KPMG has committed to providing 1000 hours of support every month over the next three years as Entrepreneurial Spark powered by NatWest continues its expansion throughout the UK. Hot on the heels of Hatcheries being launched in NatWest premises in Bristol, Leeds and Brighton, the announcement of a tie-up with KPMG is yet another step on the road to the accelerator’s stated goal of creating a ‘golden age’ for entrepreneurs.
The three year deal will see KPMG providing entrepreneurs, or ‘Chiclets’, in the Hatcheries with advice and guidance around issues such as developing better quality 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 also have a dedicated presence at Entrepreneurial Spark’s head office in Scotland delivering advice and guidance around investor readiness, while further one-to-one support will be provided on the ground at the Entrepreneurial Spark powered by NatWest Hatcheries across the UK. KPMG has committed to a mix of secondments and providing a pool of talent in each location to ensure entrepreneurs receive the best possible advice as they build their businesses.
KPMG will also boost Entrepreneurial Spark powered by NatWest’s start-up prize funds of six figure cash pots each year, awarded to the best entrepreneurs.
Finally, thousands of entrepreneurs supported by Entrepreneurial Spark and the bank 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.
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.”
Entrepreneurial Spark powered by NatWest now 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 allows Entrepreneurial Spark and RBS and NatWest to offer free regional support to thousands of budding entrepreneurs.