Klarna launches £3mn Small Business Support Package to help British SMEs

By Megha Bhattacharya

Klarna, the global retail bank, payments, and shopping service, has today launched a new £3 million 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 support across different elements of their business, from office space and customer acquisition to advertising support. 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.

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.”

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.

Matt Vickers, MP for Stockton South and Support Package judge said: “It has been a monumentally difficult year for our SMEs, and as we recover from the pandemic, it’s vital that we can provide all the support we can. Klarna’s £3m Support Package and Accelerator Program will be instrumental in rebuilding business health and confidence and I encourage every SME to get involved.”

Mathieu Proust, General Manager, UK, Ireland & Emerging Markets at WeWork, said: “WeWork is fortunate to be home to some of the UK’s most exciting start-ups and SMEs and we know the power of the right resources, space and network on driving success. After such a challenging year for SMEs, we’re looking forward to welcoming the Support Package beneficiaries into our community and to providing space designed for collaboration and innovation to help them grow and thrive”