Barclays has announced a £14bn* lending fund as part of a series of initiatives to help small and medium-sized businesses (SMEs) to succeed and flourish through Brexit and beyond. Focused on building SME resilience during uncertain times, the package of support includes:
- A £14bn* dedicated lending fund for the businesses that are the lifeblood of the UK economy (turnover of £0-£25 million)
- More than 100 SME Brexit clinics and seminars being run in local communities across the country
- An established network of on-the-ground relationship management experts and industry specialists, based across the UK
These initiatives are designed to help SMEs think about managing cash-flow and working capital, exporting goods abroad, labour, supply chain management, and broader issues of preparedness.
Launching the fund, Group CEO Jes Staley, said:
“Barclays stands ready to help local businesses in towns, cities and rural communities, up and down the country, during this period of uncertainty. The £14bn* fund, along with our broader package of support, shows our commitment to the local businesses that are the backbone of the UK economy – we are here to help them plan for the future and invest for growth.”
“It is the entrepreneurs, the farmers, the manufacturers, the house-builders, the new tech firms, and countless other businesses, that will help the country deal with – and capitalise on – this period of change. Barclays is here to help SMEs to do exactly that.”
