KPMG has partnered with Entrepreneurial Spark, powered by NatWest, to advise and support thousands of entrepreneurs across the UK.
The company will be working together with Entrepreneurial Spark, the world’s largest free business accelerator programme, over three years as part of the programme.
Since its creation in 2011, the business accelerator has used a ‘secret sauce’, which has resulted in the creation of over 1,700 jobs and the support of nearly 1000 start-ups.
KPMG offers audit, tax, and advisory services and committed itself to 1,000 hours of help every month for the course of theventure, as Entrepreneurial Spark continues to expand throughout the UK.
The project was launched at Natwest‘s premises in Bristol, Leeds and Brighton. At the event, the bank stated that it is looking forward to create a ‘golden age’ for entrepreneurs.
KPMG will work with new businesses to help them develop better quality business plans, understand investor readiness, acknowledge the importance of cash and profit and recognise the impact of business decisions on company finances.
Entrepreneurial Spark has also allocated part of its office space in Scotland to KPMG so the company will be in constant reach, while further one-to-one support will be provided on the ground at the Entrepreneurial Spark powered by NatWest Hatcheries across the UK.
The best entrepreneurs will receive at the end of the annual program a six figure cash prize sponsored by both enterprises.
Participants in the scheme will also gain access to KPMG’s Small Business Accounting service and to the company’s network of business contacts and relationships, enabling entrepreneurs to gain valuable business relationships and insight.
Entrepreneurial Spark has seven locations across the UK, with Hatcheries in Birmingham, Bristol, Leeds and Brighton being announced in the last two months to add to the existing three Hatcheries in Glasgow, Ayrshire and Edinburgh.
The multi-million pound partnership has allowed Entrepreneurial Spark, RBS and NatWest to offer free regional support to thousands of budding entrepreneurs.
Iain Moffatt, head of Enterprise for KPMG in the UK, said: "At the heart of KPMG Enterprise is a deep-rooted commitment to providing coaching, support and advice to aspiring entrepreneurs, so we’re delighted that this new partnership with Entrepreneurial Spark and NatWest will enable us to provide a vital helping hand to early stage and growing ventures up and down the UK.
"Entrepreneurial Spark is working with the big businesses of tomorrow, so the more we can do to help entrepreneurs understand and get to grips with their numbers, and ultimately help them to secure investment, the better.
"We look forward to supporting our first intake of ambitious company owners over the coming months, and watching their businesses flourish."
Gordon Merrylees, Head of Entrepreneurship RBS and NatWest, commented: "To have KPMG on board with us as we drive our support for enterprise is tremendous added value for the entrepreneurs in particular. Through working with KPMG and Entrepreneurial Spark, RBS and NatWest truly aims to become the bank for entrepreneurs and small businesses.
"Whilst finance is of obvious importance to these businesses, it’s the networks, contacts, expertise and mentoring – in other words, the connectivity and know-how that we can bring to the table with KPMG – which will help make all the difference to these inspirational entrepreneurs. I look forward to embarking on this journey with them."
Jim Duffy, Entrepreneurial Spark CEO, said: "At Entrepreneurial Spark, one of our top challenges is ensuring that those start-ups which are seeking investment are truly investor ready. We searched the country for a leading accountancy firm willing to give back and support entrepreneurship, and were blown away by the commitment of the KPMG team.
"We look forward to working with them across the country over the next three years, enabling entrepreneurs across the country to grow their businesses, create jobs and support the economy."