KPMG, one of the largest international professional services #firms, has signed a deal with InvestDen, a debt-based #crowdfunding platform, with the aim of expanding its alternative #financing services to small businesses. Following this deal, KPMG will provide a variety of services and advice to small businesses that will raise capital through InvestDen.
KPMG has been very proactive in the small and medium enterprise (SME) market over the past year. The company has made big steps in an attempt to disrupt the SME market; in October last year, it invested £40 million in its enterprise financing deal. In August this year, it signed an agreement with MarketInvoice, a peer-to-peer business lender, committing itself to alternative financing to small businesses.
Crowdfunding is one of the alternative sources of funding that suits many businesses.
Funding for small businesses has been very complex and difficult for many years, considering the challenges that these businesses face in their early stages. Most of the entrepreneurs find it unendurable thus giving up their businesses even before being in operation for five years. This is what has prompted the rapid growth of the alternative financing industry, by and large making it easier and simpler for small businesses to access capital.
Crowdfunding is one of the alternative sources of funding that suits many businesses. While signing the agreement with InvestDen, KPMG expressed their optimism that the deal will enable them to implement their strategy, which is to help businesses at all stages of development across the UK.