"It is basically a networking event but on a much more intimate scale. It’s a great mixture of people from a range of different companies." - Rachel Nash, Marketing Manager
The Breakthrough Roundtable programme invites small groups of entrepreneurs to learn about Santander’s commitment to small and medium-sized businesses, and encourages them to discuss – and potentially solve – issues impacting on growth. The scheme is part of a broader commitment by the bank to enter into partnerships with small businesses and deliver the sort of close customer engagement that many high street banks have recently been accused of neglecting.
UK-wide initiative
There were five Roundtable events across the second half of 2013 in different locations across the UK – at the universities of Exeter, Loughborough, Lancaster, Queen’s Belfast, and King’s College London.
Each event was attended by between ten and 15 SME entrepreneurs, as well as a number of Santander executives – including regional relationship directors and experts – who were on hand to directly answer specific questions. Delegates had the opportunity to pose questions in advance to encourage discussion around the table.
Santander’s UK chief executive Anna Botin also attended all five Roundtables, and spoke of the history of Santander and its ambition to be the bank of choice for small and medium-sized businesses, in order to help them achieve their aspirations. In the past, Ms Botin ran her own IT business and understands the needs and challenges associated with growing a business. Connecting local small businesses with the country chief executive of a global bank is one way that Santander is making clear how seriously its employees take the UK’s entrepreneurial economy.
Looking beyond finance
Roundtable conversation is not constrained to financial matters but also covers partnerships and how banks relate to, and support, small businesses. A strong theme across all of the Roundtables this year was that businesses want a relationship with a bank, and not a thin ‘arm’s length’ contract.
“They wanted someone to turn to and address questions to. For example, if they are looking to hire a financial director or improving cash flow, they want someone to be on hand to give them expert advice,” says Rachel Nash, [Marketing Manager], Santander.
“To take another example, one of the pillars of the Breakthrough scheme is an internship programme, so we can advise on best practice here and how both the business and the interns can get the most out of the arrangement,” Rachel adds.
There were also discussions around asset finance, capital, manufacturing and supply chain. A number of delegates voiced their concerns over a sense that their incumbent banks were “backing away from them”.
Networking opportunity
In each case, the presentation and feedback session was followed by a period of time dedicated to networking. This also proved useful, not just in swapping ideas and leads, but in certain cases also to arrange future discussions about collaborating on projects.
“The delegates don’t necessarily know everyone else at the Roundtable, also whether there will be any obvious synergies between the companies,” explains Rachel. “That can really come out during the discussions.
“If somebody says something that strikes a note with someone else, then it is fantastic to see them connecting afterwards over a cup of tea and talking through further points. The Roundtables are a great platform for partnerships. It is effectively a networking event, but on a much more intimate scale. It’s a great mixture of people from a range of different companies, including existing Santander customers and prospective customers.”
Getting to the heart of businesses
Some of the delegates were surprised to learn how Santander dedicates thousands of hours to senior staff visits in local businesses. The bank focuses on getting to know customers’ businesses intimately and providing tailored solutions.
“For Ana Botin, having access to these small and medium-sized businesses is fantastic. She has the opportunity to learn more about the challenges facing business owners, which in turn will help to shape the future of the corporate and commercial arm of the bank,” says Rachel. “This is part of our holistic approach to business. At the end of the day we want our customers to succeed, so we think it makes sense to throw our weight behind entrepreneurs.”
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