Barclays launches new toolkit to support small businesses

Barclays has launched an online toolkit to help small and medium sized enterprises navigate the uncertainty created by coronavirus outbreak.

Designed in partnership with the Cambridge Judge Business School, the ‘Barclays Back to Business’ programme is open to all UK SMEs, in addition to the bank’s one million small business customers.

The toolkit will be launched in full on 22 June, and over the last few weeks has been piloted by 100 businesses from different sectors.

“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 to best serve their customers,” commented Christoph Loch, director of Cambridge Judge Business School.

“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.”

The toolkit looks to help business owners assess the overall health of their enterprise, and create a tailored resilience plan for challenging periods. It is packed with practical tools including a working capital calculator, cash flow forecasts, and guidance on managing supply chain relationships.

Hannah Bernard, head of Barclays Business Banking, said: “We’re proud to provide a platform for business owners to hone their skills and access vital resources as businesses across the country continue to be impacted by coronavirus.

“We stand behind UK businesses and are always looking for new ways to provide help and support to entrepreneurs, business owners and sole traders across the country.”

Earlier this month, the high street bank has 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.

The bank has also facilitated £16.7 billion into the economy through the government lending schemes.