Big Four firm to support entrepreneurs
KPMG signs up for three year advisory tie-up with E-Spark
The three-year agreement is the second between the accelerator and a blue chip partner after it signed up for similar services with Royal Bank of Scotland.
Since its formation in 2011, nearly 1,000 start-ups and 1,700 jobs have been supported by E-Spark which has expanded beyond its Scottish bases in Ayrshire, Edinburgh and Glasgow into England.
It now has seven hatcheries across the UK with facilities in, or planned for, Birmingham, Brighton Bristol and Leeds.
KPMG has committed to providing 1,000 hours of support every month over the next three years on issues such as business plans; investor readiness; understanding the importance of cash and profit and recognising the impact of business decisions on company finances.
As part of the agreement, KPMG will have a dedicated presence at Entrepreneurial Spark’s head office in Glasgow, delivering advice and guidance around investor readiness.
Further one-to-one support will be provided in the Entrepreneurial Spark’s Hatcheries at RBS headquarters in Edinburgh, Ayrshire, and also at NatWest premises across the UK.
Thousands of entrepreneurs will benefit from access to KPMG’s Small Business Accounting service, and KPMG will also bring its extensive network of business contacts and relationships to bear, enabling the entrepreneurs to access valuable business relationships and insight.
Phil Charles, head of enterprise for KPMG in Scotland, said: “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.”
Gordon Merrylees, head of entrepreneurship RBS and NatWest, said: “To have KPMG on board with us as we drive our support for enterprise is tremendous added value for the entrepreneurs in particular.”
Jim Duffy, chief executive of Entrepreneurial Spark, said: “At Entrepreneurial Spark, one of our top challenges is ensuring that those start-ups which are seeking investment are truly investor ready.”
Picture: (L-R) Jim Duffy, CEO, Entrepreneurial Spark; Gary Deans, Partner, KPMG; and Gordon Merrylees, Head of Entrepreneurship, RBS and NatWest.