Klarna has announced its plans to offer help to 100 UK small and medium enterprises (SME) in an effort to support the industry post-pandemic.

Klarna is a global retail bank, payments, and shopping service. Its £3m Small Business Support Package comes as new research reveals a quarter (24%) of SMEs aren’t confident their business will survive the next two years.

46% of owners stating their main priority is to simply survive the next six months.

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The Support Package will provide 100 retail SMEs with access to much needed support across different elements of their business, from office space and customer acquisition to advertising support.

Specifically, the fund will provide SMEs with WeWork All Access for three months, complimentary use of Klarna’s Pay later products for one year and £15,000 of Klarna media services.

Together this package equates to over £30,000 of support for each business.

Recipients of the package will be selected by a panel of judges including Klarna head of UK, Alex Marsh.

Marsh commented: said: “SMEs are at the core of our economy and it’s vital that they’re given all the tools they need to survive.

“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.”

The programme will support SMEs across four categories: innovators in retail, omnichannel trailblazers, sustainability champions and those who have been heavily impacted by the pandemic.