Barclays has today launched a Back to Business toolkit to help small and medium sized enterprises (SMEs) get back on their feet as they navigate the uncertainty created by coronavirus.
The ‘Barclays Back to Business’ programme has been designed in partnership with Cambridge University’s Cambridge Judge Business School. It is open to all Northern Ireland SMEs, in addition to the bank’s one million small business customers across the UK.
With nearly two thirds of businesses* (65 per cent) reporting that they will change their business practises in response to coronavirus, the bank hopes that the programme will provide SMEs with the support they need to adapt.
The toolkit has been piloted with one hundred businesses from different sectors over the last few weeks ahead of a full trial launch on 22 June, with everyone from farmers to hairdressers trialling the programme.
The kit is designed to help business owners assess the overall health of their enterprise and to create a tailored resilience plan. It is packed with practical tools including a working capital calculator, cash flow forecasts, and guidance on managing supply chain relationships.
Christoph Loch, Director of Cambridge Judge Business School, said: “Many entrepreneurs and businesses will be looking for new opportunities during this time, and we know they’ll be asking themselves what their strategy should be as they look to adapt. During the online programme, we’ll lead businesses through that thinking, stepping away from the day to day operations to look at the opportunities and a longer-term strategy, with the help of our business toolkit.”
John Mathers, Relationship Director at Barclays in Northern Ireland said, “This is an excellent, high quality and easy to follow resource for the current times. It is delivered online in users’ own time and walks through a practical set of tools and guides. Business owners can take things back to basics and focus their attention on the key business fundamentals that will be needed for this next challenging period.
“Barclays stands behind Northern Ireland businesses and our SMEs, entrepreneurs and sole traders, who make up such a significant part of our local economy. The Back to Business programme is a really practical toolkit to help support these vital businesses as they adapt to current challenges and plan for the opportunities ahead.”
The toolkit is the latest measure in a package of support rolled out by Barclays. The bank has facilitated £16.7 billion into the economy through Government lending schemes**, delivering vital aid to businesses during the pandemic.
Earlier this month, the bank also launched a ‘Get Local’ partnership with Nextdoor, the neighbourhood hub, to help SMEs promote their skills and services to their local community in a safe way, and let them know that they are open for business.
Businesses can find out more about the Back to Business toolkit and sign up at: https://www.barclays.co.uk/business-banking/sectors/entrepreneurs/back-to-business-programme/
