Lloyds Banking Group makes pledge to bolster support for exporters and growth businesses

The new commitments form part of the Group’s 2017 Business Charter, launched today, which sets out what the Group intends to do for all businesses – from start-ups to large corporates.

The group, which includes Bank of Scotland, said that for the second year in a row, the Charter includes a promise to help 5,000 new exporters.

This is part of its wider commitment to help 25,000 businesses trade overseas for the first time by 2020, and it will help contribute towards the UK Government’s goal of helping 100,000 businesses start trading overseas, as part of its Exporting is GREAT campaign, by the end of the decade.

The Group’s drive to support exporters is underpinned by its new International Trade Portal, launched late last year, which helps businesses identify and secure overseas trade opportunities and provides access to 20,000 trade shows, 25,000 market reports, 30,000 suppliers, 110,000 importers, and live tenders.

The 2017 Charter also includes pledges to help 100,000 start ups to get off the ground; boost the digital skills of 50,000 small businesses and charities through a nationwide programme of events and online support; and help a further 1,000 businesses scale up, to reach £1 million turnover within the next three years.

Tim Hinton, managing director, mid markets & SME banking, said: “In the current climate, it is more important than ever that businesses are equipped to grow and compete on the global stage.

“These new commitments build on our recently launched Helping Britain Prosper Plan and set out the support that we will provide to help businesses start up, expand and trade overseas.”

Jo Harris, managing director, retail business banking, added: “We are committed to helping businesses thrive, whether they are start-ups, established companies or companies looking to expand and grow.

“These pledges are part of our ongoing commitment to support entrepreneurship in the UK. Small businesses are the lifeblood of the economy and, by helping them prosper, we’re Helping Britain Prosper.”

The full range of pledges in the Lloyds Banking Group 2017 Business Charter are as follows:

Getting start-ups off the ground

To continue to support fledgling businesses and commit to helping 100,000 start-ups get off the ground in 2017.

Boosting growth

Commitment to helping 1,000 start-ups become £1m turnover businesses over the next three years.

Growing lending

Increase the amount of net lending to SMEs and Mid Market companies by £2 billion during 2017.

Local lending

Offer a wide range of SME Managers across the business with the authority to approve lending up to £1 million. Mid Market clients will also be offered a regional credit model and the opportunity to meet with dedicated Credit Analysts as part of a transparent and open process.

Increasing digital skills

Commitment to helping 50,000 small businesses and charities to increase their digital skills in 2017.

Investing in digital

Support for a further 10,000 clients to move onto Commercial Banking Online. Over 2,000 clients are currently on the bank’s new Commercial Banking Online platform which gives simple and customisable 24/7 access to accounts, payments and bespoke reporting, across a range of currencies.

Maximising working capital

Launchin of a new Lloyds Bank Working Capital Index which will provide a unique barometer of the working capital pressures on British businesses and will allow companies to benchmark themselves. Mid Market and SME businesses will also have the opportunity to gain a deeper understanding of their working capital cycles - so they can release tied-up cash, fund growth and reach their full potential – by using our Working Capital Management digital tools to help review and optimise their own companies.

Supporting exporters

Lloyds will help 5,000 businesses to start exporting their products and services for the first time in 2017, working in partnership with DIT, UK Export Finance and The British Business Bank. This will help contribute towards the Government’s target to help 100,000 first-time exporters by 2020.

Through its International Trade Portal, Loyds will give businesses access to 20,000 trade shows, 25,000 market reports, 30,000 suppliers, 110,000 importers, and live tenders. It will also help customers understand the opportunities and risks as they explore international trade.

Ensuring fair lending decisions

Commitment to treating all lending applications fairly and communicating decisions transparently. Under the Appeals Process we commit to making a decision within 30 calendar days and, under an Appeals Charter, within 15 working days in at least 90% of cases. Where it is unable to lend to a customer, under the Declined Lending Referral Scheme, Lloyds will help direct them to other potential lenders if they want us to do so.

Mentoring

Support will be offered to new and established SMEs, including community and social enterprises, through a network of over 450 enterprise mentors across Britain, trained through the Business Finance Taskforce accredited scheme. Since 2011, 741 Lloyds Bank mentors have mentored 1,380 businesses.

Business turnaround

Lloyds will continue to work with customers whose businesses are in difficulty to bring them back to financial health. Last year the bank helped nearly 650 businesses back onto a sounder financial footing, and protected over 34,000 jobs.

Raising productivity

In 2017, Lloyds will invest £1bn in the UK manufacturing sector through financial support.

It will support training of over 1,000 apprentices, graduates and engineers by 2020 as a result of a £5m investment at the Lloyds Bank Advanced Manufacturing Training Centre at the MTC in Coventry.

Lloyds will also introduce our manufacturing clients to the Manufacturing Technology Centre and will work with them to identify opportunities for cost savings and improved productivity.

Supporting UK infrastructure

In 2017 Lloyds will support projects in the Government’s National Infrastructure Plan to the value of £10bn.

Protecting against fraud

Lloyds will help our 1,000,000 small business customers to protect themselves from the risks of financial fraud. It will raise awareness through our work with Financial Fraud Action UK to promote their ‘Take Five’ campaign and equip clients with the most up-to-date fraud prevention guidance and the tools they need to spot emerging threats.

Supporting a low carbon economy

Lloyds will support the transition to a low carbon economy. In 2017 it will fund 2 million square feet of commercial real estate space to become more energy efficient, and 10 million square feet by 2020.

Corporate pensions

Scottish Widows will support 2,000 of existing corporate pension customers through their first-time auto enrolment staging during 2017. In addition, it will roll out our new digital service for Corporate pension employers, significantly reducing processing times for monthly scheme management and significantly improving customer engagement - this will reach over 12,000 employers and 1.5m employees.

Accessing our Group

Lloyds will provide you with easy access to all of our Group’s offerings in support of your business and personal needs including Retail Banking, Scottish Widows, Lex Autolease, Black Horse Finance and LDC.