Metro Bank and accounting giant KPMG have come together to help cut red tape for SMEs.
Under the partnership Metro Bank said small business customers in need of accounting services may be referred to KPMG, a preferred accountancy partner. The bank stressed this is neither an exclusive nor cross selling arrangement.
The companies say that this will allow entrepreneurs to focus solely on growing their business. It is estimated that SME bosses spend a total of a day a week doing financial admin.
Bivek Sharma, head of Small Business Accounting at KPMG, said: "Our new alliance minimises the time businesses have to spend confronting bureaucratic hurdles. Saving eight and a half hours a week; 34 hours a month; 45 days a year, we’re giving business owners time back to focus on growing their business and achieving their goals."
KPMG have recently been building partnerships attract entrepreneurs to use its services. In April they joined forces with the the Natwest powered Entrepreneurial Spark to offer 1000 hours a month of audit, tax, and advisory services to firms in the accelerator.