Barclays announced a £14bn fund to help SMEs handle Brexit

Barclays announces £14bn fund to help UK SMEs through uncertain times

Barclays announced a £14bn fund to help SMEs handle Brexit. Source: shutterstock.com

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.

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, labor, supply chain management, and broader issues of preparedness.

Barclays stands ready to help local businesses in towns, cities and rural communities, up and down the country, during this period of uncertainty. Today’s £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 
Jes Staley, Barclays CEO

SEE ALSO: In the UK, money is bigger taboo than sex – survey

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