Innovative approach boosts tomorrow’s business success stories

March’s triggering of Article 50 marked the beginning of the two-year countdown to Brexit, and for many Oxford businesses, it’s already time to look at new growth opportunities well beyond traditional European markets.

Helping them to identify the right targets and future partners is Barclays’ corporate and business banking team, which is working hard to support them on the right approach to expanding global trade. 

Head of the team, Trevor French, says the weaker pound has created a raft of opportunities – the value of UK exports to China alone is anticipated to rise by 115% over the next decade – and he wants to make sure local businesses are best placed to take advantage on the world stage.

“We have dedicated local managers who have the necessary expertise, experience and contacts to work with companies, whether they already export and want to do more, or whether they are taking their first steps into the international market,” he said.

“We also partner with UK Export Finance (UKEF) and regularly hold local networking and information events where businesses can talk to us about their plans and find out how we can help.”

Based in Botley and with an average of more than 18 years’ experience each, French’s 16-strong relationship manager team includes industry specialists in areas such as manufacturing, wholesale and business services; something he believes ensures a true understanding of the issues customers are facing.

“One of the things businesses tell us is a barrier to growth is developing and recruiting employees with the skills that they need. That’s why we work with local schools, helping teenagers with interview techniques, workshops and tips to boost their CVs and set them on the right road to future employment,” he said.

Barclays also works closely with the Oxfordshire Apprenticeships Group to raise awareness of the benefits of apprenticeships and, through the Connect with Work programme, is involved with the Princes Trust, tailoring programmes to meet companies’ specific requirements to help them find and recruit the talent they need. 

French is keen to attract more support from the local business community for such schemes and makes a plea for any interested companies to get in touch.

Given Oxford’s reputation for success, identifying ambitious entrepreneurs in the high-growth sectors such as biotech and software development is high on Barclays’ list. Its close links with the Oxford University innovation team and the Oxford Trust underline its commitment, as does its high growth and entrepreneurs offering.

This takes a three-tiered approach, supporting the business stars of tomorrow with everything from funding and networking advice, to growth plans and connecting with dedicated specialists. 

Future plans include having Barclays managers based within business incubator units, ensuring advice is available whenever entrepreneurs need it.

French says the bank isn’t afraid to be innovative, quoting a £10 million support package for one young Oxford biotech company which has enabled it to move into new premises and take on around 50 staff, despite the fact it is yet to make a profit.

“Often, when traditional bank financing isn’t available, we will support these businesses because we are committed to their future success,” he said.  “We also have a network of strategic partners, such as the Business Growth Fund, and we pride ourselves on an innovative approach.”

Another success story of which he is particularly proud is the way the bank provided funding to help keep a large employer in the county when it was considering relocating further afield, a move which would have potentially cost some 180 local jobs.

Close ties with the Local Enterprise Partnership (LEP) and Oxford City Council ensure Barclays ongoing support for the city’s economic plan and, with such a wealth of experience and expertise under one roof, the team is looking forward to helping many more businesses secure a bright future.

Trevor French
07917 426547
[email protected]
barclays.com