Barclays launches Brexit 'clinics' for startups and small businesses

Keiligh Baker's picture
by Keiligh Baker

Barclays is to hold more than 100 clinics for small business customers in March to help them to prepare for Brexit.

The bank said 1,500 staff will hold talks in dozens of its branches to businesses attending the events about managing their cashflow, exporting goods, supply chain management and other issues as the March 29 Brexit deadline approaches.

Barclays said it will invite about 5,000 business customers to attend the events in the next few weeks.

Reuters reports that while banks have so far reported few signs of businesses being unable to repay loans or otherwise struggling as Brexit looms, in recent weeks some have said uncertainty over access to European markets is stifling decision making.

Royal Bank of Scotland on Friday said it faces a possible spike in bad loans from business failures and pressures on its own cost-cutting initiatives.

The failure so far of Prime Minister Theresa May to secure backing for a Brexit deal with the EU is harming small businesses, “making it impossible for them to plan, hire and invest,” chairman of the Federation of Small Businesses Mike Cherry said last week.