Very few accountancy practices believe that KMPG will succeed with its move to disrupt and dominate the SME market by telling small businesses “you can pay us the same as your current accountant, but we’ll give you more”.
In a poll amongst the readers of Accoutancy Age, 77% of the 88 readers polled indicated that they do not think that KMPG will be able to compete with smaller firms. Just over a fifth (23%) felt the move into the SME sector would succeed. KPMG invested £40m in its enterprise programme, which includes subscription-based cloud accountancy support for small businesses.
Where KPMG clearly sees an opportunity, the owners of smaller firms have, predictably, come out against the proposal, outlining a myriad of reasons while the Big Four firm will fail.