SME Forum: Open Banking and Small Business Recovery

17 June 2020 Zoom

On 17th June the OBIE invited a panel of small business, fintech and enterprise experts to discuss economic effect of Covid-19 on the UK’s SME industry – and the potential of open banking to address that impact.

Three particular aspects were explored:

Managing Debt: many small businesses will have taken on more debt to survive the crisis. Some may have borrowed for the first time. This will present particular challenges to small businesses in the future.

Managing Cashflow: cashflow challenges will be significant. Free cashflow will have been burned through and guarding cash will be a key skill. Some businesses may boost their cashflow by delaying payments, causing further suffering to their suppliers.

Managing Productivity: many small businesses will emerge from the crisis with reduced staff, more pressure and greater levels of stress and mental health issues. Tools to help business owners focus more of their energies around their business.

Speakers were:

Philip King, Interim Small Business Commissioner
Andrea Reynolds, Founder and CEO of Swoop
Wendy Tapia, Product Manager at Sage
Mark Chidley, OBIE SME Representative

If you missed the session, you can watch it below:

Event over

This event has finished