The role of brands in supporting the community is a key trend in the midst of the Coronavirus crisis. It is an approach which underpins Klarna, the leading global retail bank, payments, and shopping service, has today launched a new £3m Small Business Support Package to help British SMEs recover from the pandemic. The package comes as new research reveals a quarter (24%) of SMEs aren’t confident their business will survive the next two years with 46% of owners stating their main priority is to simply survive the next six months.

The Support Package will provide 100 retail SMEs  with access to much needed support across different elements of their business, from office space and customer acquisition to advertising support. Specifically, the fund will provide SMEs with ‘All Access’ WeWork passes for 3 months, complimentary use of Klarna’s products for one year and £15,000 of Klarna media services. Together this package equates to over £30,000 of support for each business.

As research reveals almost half (46%) of SME owners have a bleak business priority over the next six months; simply to survive, While 38% are worried that their business won’t survive the pandemic. 

It is a state of play which is having a devastating impact on the mental health of business leaders; with 44% of senior managers feeling COVID related business struggles have negatively impacted their mental health.

To help support this community, the lifeblood of the UK economy, Klarna has launched a support package which will provide 100 retail SMEs with access to much needed support across their business; from office space.

Specifically, the fund will provide SMEs with WeWork All Access for 3 months, complimentary use of Klarna’s Pay later products for one year and £15,000 of Klarna media services. Together this package equates to over £30,000 of support for each business.

The recipients of the package will be decided by a hand-picked panel of judges including Matt Vickers MP for Stockton South and Co-Chair of the APPG on Future of Retail, Alex Marsh Head of UK for Klarna and Mathieu Proust, General Manager, UK, Ireland & Emerging Markets at WeWork.

Alongside the Support Package, Klarna has also launched a ten-part Accelerator Program hosting a series of free training masterclasses with industry experts from various partners including Shopify, WeWork, Global-e, dotdigital and more to provide SMEs with actionable insights to boost their business.
Alex Marsh, Head of UK at Klarna said: “SMEs are at the core of our economy and it’s vital that they’re given all the tools they need to survive. At Klarna, we are determined to help small retailers navigate their way back to pre-pandemic levels and we hope that this fund, together with our Accelerator Program, will inspire and boost confidence across the SME sector.”