Klarna has launched a £3 million support package to help UK small and medium sized businesses (SMEs) recover from the pandemic.
The Swedish payments giant launched the Small Business Support Package today, providing 100 British SMEs with access to support in various areas of their operations.
Its support package will provide retailers with WeWork All Access for three months to help provide office space, free use of Klarna’s Pay later products for one year and £15,000 in media services, equating to around £30,000 in total.
The 100 recipients of the package will be decided by a hand-picked panel of judges including Klarna’s UK head Mathieu Proust and WeWork’s UK general manager Alex Marsh.
“SMEs are at the core of our economy and it’s vital that they’re given all the tools they need to survive,” Marsh said.
“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.”
According to research conducted by Klarna, 38 per cent of SMEs didn’t think they’d survive the pandemic, while a further 46 per cent said their main priority was to simply survive the next six months.