· BT’s Small Business Support Scheme to help firms boost connectivity, cash flow and confidence following coronavirus pandemic
· BT unveils new action plan to help build recovery for small businesses and get them fit for the future
· Specialist help for small businesses available from BT’s retail stores –
BT today announced an unprecedented package of support to help over 124,000 small businesses in Northern Ireland get better positioned for recovery and growth following the coronavirus outbreak and as they prepare for a post-Brexit
Today’s launch of BT’s Small Business Support Scheme sees the company introduce a range of new measures to help small business boost their connectivity, cash flow and confidence.
BT’s action plan includes a commitment to pay its 4,500 small business suppliers promptly and within 30 days of being invoiced, to helping firms fund the cost of ultrafast business connections, as well as access to free resources such as business mentoring, digital skills, marketing tools and mental health support.
Paul Murnaghan, director of BT’s Enterprise business in Northern Ireland, said: “Small businesses are the beating heart of our economy, high streets and communities. The past few months have been amongst the most challenging in living memory for SMEs. As they employ the majority of private sector workers here, their success is key to securing Northern Ireland’s economic recovery from the pandemic. Small businesses deserve the support of each and every one of us to help them thrive into the future.
“At BT, we can use our technology, scale and expertise to help small businesses kick-start recovery and growth by boosting their connectivity, cash flow and confidence. So we’ve listened to the needs of small businesses and are stepping up to deliver a support scheme which should have something for everyone – whether you’re a sole trader, tech-start up, micro business or a larger firm.”
Ann McGregor MBE, Chief Executive of the Northern Ireland Chamber of Commerce and Industry, added: “The past few months have been amongst the most challenging in living memory for businesses and BT’s commitment to supporting local SMEs through these tough times will be particularly welcome by the sector.
“The Small Business Support Scheme is directly targeted at a number of the pressure points facing businesses now. Its assistance with relieving cash flow pressures for suppliers and improving digital skills across a wider business base is extremely important. As thousands of businesses here look to digitally transform operations and how they service customers, BT’s continued focus on connectivity is also going to be central.
“I encourage small businesses from every sector across Northern Ireland to take advantage of the expertise and support on offer.”
BT’s Small Business Support Scheme comprises the following measures:
· Funding ultrafast business connections: BT is helping
· Launching bursaries for UK tech start-ups: BT is introducing a new bursary scheme to give 1,000 UK tech start-ups and entrepreneurs a financial head start. From October, eligible companies can apply for a bursary to benefit from free fibre broadband and mobile bundles. Further details will be announced in due course.
· Introducing BT Halo for Business: Building on the remarkable success of BT Halo for consumers, BT has launched the UK’s best converged fibre broadband, mobile and digital phone line bundle for micro-businesses, which represent 91 per cent of all businesses in the UK. By combining three powerful connections in one package, Halo helps businesses stay better connected inside and outside of the workplace, so that they never miss an important call or a sale.
· Helping small businesses to go cashless: BT is preparing to launch a new digital payments solution, to help small businesses move to cashless transactions. This is a trend which is accelerating as a result of the pandemic, with 25 per cent of small businesses increasing their use of contactless payments over the past few months. Further details will be announced in due course.
SUPPORTING CUSTOMER CASH FLOW:
· Accelerating payment for BT’s small business suppliers: With 58 per cent1 of small businesses citing cash flow as their number one concern, BT is committing to pay its 4,500 small business suppliers within 30 days of being invoiced. This sees BT halving the 60-day terms stipulated by the Government’s Prompt Payment Code.
· Financial flexibility for the hardest hit: BT has been assisting small businesses in financial distress during the peak of the pandemic by helping them find a flexible option for paying their bill. This will continue over the coming months, with BT creating a dedicated team to support customers who are struggling with aspects of their bill as a result of the pandemic.
· Helping small businesses access the full power of digital and social media advertising: With 63 per cent of small businesses wanting more support around marketing and sales, BT is looking to help small firms across the UK to better promote their goods and services online. More details will be revealed in due course.
· Supporting small businesses through mentoring: BT is introducing a new mentoring scheme for small businesses, to provide them with free access to its expertise across strategy, marketing, sales, and more. BT will support businesses via Digital Boost, a free non-profit platform uniting digital experts with leaders of small businesses and charities. Further details will be announced over the coming weeks.
· Helping small businesses acquire new digital skills: BT’s ambition is to reach 1m small business owners and their employees with digital skills by 2025, with 46 per cent expecting to increase their use of digital tools following the pandemic. BT has already helped tens of thousands of small businesses with digital skills training through its Skills for Tomorrow programme and has released new learning content on crucial topics, including how to prevent cyber-attacks and using social media to reach new customers.
· Wellbeing support: BT is acutely aware that it’s an extremely worrying and uncertain time for small businesses, so we will be providing customers with access to expertise around maintaining their wellbeing by boosting their mental and physical health. This will be delivered through a free online toolkit and webinar series specifically designed for small businesses.
BT’s team of 40 store based, local business consultants are on hand to help small business customers access the wide range of support available. These specialist experts can provide personal advice around the best technology options for an individual business, together with digital skills support for employees.
They are joined by a network of 40 BT Local Businesses around the UK – independently owned businesses who work in partnership with BT to deliver a personal, local service to small business customers across the length and breadth of the country.
This sees BT supporting and rejuvenating the UK’s high streets, as well as levelling up the regions and devolved nations by making specialist local tech and digital skills support as accessible as possible – no matter where firms might be based.
BT is exploring ways of adding further initiatives to its Small Business Support Scheme to bolster its support for the sector and will announce more details in due course.