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Barclays Pledges “Brexit Support” for SMEs, Pops in for a Cuppa

Last Wednesday, Barclays mobilised 1,500 Business Banking relationship managers to visit 25,000 small and medium sized businesses in a single day, to give support on preparing for Brexit.

Taking place on Wednesday 10th July, Barclays On the Front Foot was a UK wide initiative that saw Barclays making personal visits to 25,000 SMEs to help them become Brexit resilient.  

On high streets and industrial estates up and down the country the team will listen to the concerns of small businesses, and offer support and practical solutions for the challenges they face such as managing cash-flow, finding labour, and exporting goods abroad.  

“From planning to resilience, our team is helping SMEs – the lifeblood of our economy, to navigate any changes.” – ian rand

Ian Rand, Chief Executive of Barclays Business Banking, said: “Barclays is proud to have one of the biggest networks of relationship managers of any high street bank. We know that SMEs want to hear from local experts on the ground in their communities, which is why our colleagues are out and about today to help businesses in towns and cities across the country, opening up the conversation. From planning to resilience, our team is helping SMEs – the lifeblood of our economy, to navigate any changes.” 

Whether such words concur with the reality of the bank’s actions is another matter all together.

Whether such words concur with the reality of the bank’s actions is another matter all together. So far Barclays Brexit preparations have included moving its European headquarters to the Republic of Ireland and borrowing billions from the Bank of England’s Term Funding Scheme. Furthermore, Barclays shifted almost 200 million euros worth of assets to Dublin along with 40-50 investment banking positions to Frankfurt from London earlier this year.

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