Mastercard launches UK initiative for micro businesses

Mastercard has announced the launch of Strive UK, an initiative which aims to help 650,000 micro and small companies “thrive” in the digital economy by giving access to free guidance, tools, and one-to-one mentoring over the next three-years.

The scheme will include a data science one-stop-shop for entrepreneurs with curated recommendations on support, resources and tools available to help them grow their business.

According to research from the Federation of Small Business (FSB), small businesses account for around 36 per cent of turnover in the UK private sector and make up 48 per cent of the labour force. But nearly two thirds of small companies have seen a revenue decrease linked to the pandemic, according to figures from Goldman Sachs.

“Small businesses are the beating heart of the British economy,” said Kelly Devine, president, UK and Ireland, Mastercard. “The past 18 months have proved almost unendurably tough for many, and data shows that small businesses are in urgent need of support if they are to survive and grow post-pandemic.”

Devine added: “Strive UK has been set up to act as a free resource for small business owners across the country, helping them to navigate the digital economy, build relationships and communities, and ultimately realise their growth ambitions.”

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