Bench Accounting, once a leader in online bookkeeping services, shocked the small business community with its sudden closure on December 27, 2024. The Vancouver-based company had been a trusted partner for thousands of entrepreneurs, offering a blend of proprietary software and human expertise to manage bookkeeping and tax preparation. Despite raising over $100 million in funding, Bench’s abrupt shutdown has left many scrambling to find alternative solutions during a critical time in the financial calendar. Clients are advised to retrieve their financial data promptly and explore other platforms, such as Kick, which Bench has recommended as a transition option.

For small business owners, this serves as a reminder to diversify reliance on service providers and regularly back up crucial data. The closure also underscores the volatile nature of the fintech industry, where rapid growth is often accompanied by significant operational challenges. To gain deeper insights into Bench’s sudden shutdown and its implications for your business, check out this insightful YouTube video. This video explores the reasons behind the closure and offers guidance on navigating this unexpected disruption.