UK rising interest rates coins money
Business Resilience Europe Trending

BT Joins Forces With Tide to Help UK SMEs Better Manage Their Finances Amidst Rising Costs

Business financial platform Tide has joined forces with BT, in an effort to support SMEs amidst rising costs – to help them save time and money when managing their business.

As a result of the new partnership between BT and Tide, BT’s 1 million small business customers can now access Tide’s connected finance and admin solutions. This includes the platform’s flagship features such as invoice generation, Tide Accounting, payment and payroll services and expense cards.

The partnership comes as small businesses face rising costs of doing business yet increasingly need fast and efficient broadband and mobile connectivity to run their ventures.

Over 550,000 Tide customers (members) will also be able to access discounts on selected EE phones, laptops, tablets and SIM-only deals from BT.

A recent survey conducted by BT found that 41 per cent of UK entrepreneurs now manage their business solely online. Around 73 per cent of those already running a business or side hustle feel this would be impossible without reliable broadband and mobile connectivity.

The new announcement underpins Tide’s and BT’s joint mission to transform the small business community. For Tide, the move enables more SMEs across the UK will be able to save time and money using its integrated platform.

BT’s partnership network includes several like-minded organisations across a range of sectors, including retail, hospitality, banking, finance and membership bodies, to bring benefits to its smallest customers. It sits alongside BT’s Skills for Tomorrow programme which has helped more than one million small businesses access free digital skills training.

Maximising the potential of UK SMEs
Chris Sims, managing director of small and medium business at BT
Chris Sims, managing director of small and medium business at BT

Chris Sims, managing director of small and medium business at BT, said: “Small businesses are facing a lot of challenges at the moment, which are making it difficult for them to plan financially.

“Both BT and Tide are committed to helping small businesses navigate these challenges and maximise their potential, and unlocking discounts on BT’s best-in-class business broadband and Tide’s leading financial solutions is an important part of this.”

George Schmidt, SVP member accession marketing at Tide, said: “The addition of BT to Tide’s highly successful partnership programme is a perfect opportunity for our new and existing members to get precious time back via Tide’s business financial platform.

“Our integrated services mean small businesses can manage their banking, accounting, payroll and credit all from one place – their Tide account. This partnership strengthens this offering, helping small businesses at a time when they face ongoing cost pressures.”


Related posts

Episode Six: Ushering in a New Era of Open and Programmable Payment Services

The Fintech Times

Innovate Finance Global Summit (IFGS) 2023: Day Two Highlights

Tom Bleach

Colombia Reaffirms Commitment to Open Banking and Open Finance Development

Francis Bignell