Barclays has made £14 billion available to small and medium-sized enterprises (SMEs) to help them excel and prosper over the next three years. Moreover, the bank has said that it will host more than 100 SME Brexit clinics and seminars across the UK as extra support.
In a statement, Barclays said the 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.
A spokesman for the bank said that Barclays is committed to local businesses, such as farmers, manufacturers, housebuilders, tech firms, and the countless other businesses run by entrepreneurs that are the backbone of the UK economy, which is why it has set up the fund and the broader support package.
According to the group, the fund is intended for SMEs at various stages of growth and development and includes a range of business lending services that include loans, overdraft facilities and commercial mortgages.
There is also further assistance in the form of cash flow funding for investment in growth, management buy-outs and business acquisition, as well as help to maximise government schemes such as the Enterprise Finance Guarantee programme.
In separate news, innovative digital technology projects aimed at addressing key challenges in health care have received a £9 million funding boost through the Government’s Digital Health Technology Catalyst (DHTC).
Projects that have received funding include a system called eObs, which allows clinicians to observe patients digitally through hand-held devices and another that is trialling low-cost and portable brain imaging technology that aims to test patients for dementia.
DHTC funding is targeted at SMEs to promote a vibrant and varied industry of innovative technologies with the potential to significantly change care pathways and to improve patient outcomes and create NHS efficiencies.
Nigel Fry, Partner at Milsted Langdon said: “It is positive to see that Barclay’s are supporting SMEs not only with funding but with useful clinics and seminars as well.
“If are interested and would like advice on how to secure funding for your business then it is important that you seek specialist advice. Contact our experts today for a discussion on the options available to you.”