UK banking group Barclays announced earlier this week the launch of its new “Back to Business” toolkit specifically for UK small businesses. The toolkit is to help businesses get back on their feet following the rise of the COVID-19 pandemic. It is also the latest measure in a package of support rolled out by the High Street bank to support SMEs during this time.
According to Barclays, the ‘Barclays Back to Business’ program was designed in partnership with the Cambridge Judge Business School and is open to all UK SMEs, in addition to the bank’s one million small business customers. The toolkit has notably been piloted with one hundred businesses from different sectors over the last few weeks ahead of a full trial launch on June 22nd, with everyone from farmers to hairdressers trialing the program.
“The kit is designed 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.”
While sharing more details about the program, Hannah Bernard, Head of Barclays Business Banking, stated:
“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.”
Barclays added it has facilitated £16.7 billion into the economy through Government lending schemes, delivering vital aid to businesses during the pandemic.