Small Business 100

focus on modernisation, Tide enables its customers a quick and simple process to open up a business account, with no need for booking appointments and approval processes as everything is managed online or via the Tide App. One of its most popular features is the ability for customers to register their new business on Companies House, apply for a bank account and set up a virtual office address in one easy application, something that in not offered anywhere else. In September, Tide joined forces with ClearBank and were awarded £25 million pounds to help UK SME’s turn their recovery from coronavirus into an opportunity for growth. The partnership allows them to provide financial support and products to SME’s against the challenges of the recent coronavirus pandemic and also post Brexit. In addition to this, Tide has also set-up a Covid-19 Help Hub to support its customers and indeed any other SME’s looking for support through this difficult period. Looking ahead to what the future holds, as SME’s in the UK continue to battle ahead through the effects of the Covid-19 pandemic, Tide will continue to pursue its mission of becoming the UK’s leading challenger in business banking, and remains dedicated to supporting all small and medium sized businesses with their banking needs. Ready For Business Launched in 2017, Tide is a leading business banking platform solely focussed on supporting small and medium sized business in the UK with their digital business banking services. As winners in the 2020 Corporate Excellence Awards, we took a look behind the scenes to find out more about this remarkable platform and how it has established a reputation for being one of the best SME business account services providers in the UK today. With just short of six million small and medium sized businesses in the UK, SMES are undoubtedly the backbone of the UK economy. Each year SME’s generate billions of pounds in revenue, however these businesses face many challenges when it comes finding solutions for their banking needs. With a lack of support from banks and the frequency of products and services on offer not meeting their needs or expectations, SMEs are left struggling. Transforming the SME banking sector is Tide, one of the only large-scale digital business banking platforms in the UK today. Tide serves SME’s of all shapes and sizes, and by studying them intently is able to offer a service that’s helpful, saves time and reduces costs. The platform understands that SMEs are incredibly diverse and have very different business models, but when it comes to the challenges these businesses face, the majority of business owners encounter the same problems when it comes to their banking and admin needs. As such, Tides main focus is to ensure that each customer is provided with products and services that truly help them to succeed, and allows them to focus on the growth of their business. Currently, Tide provides business current accounts and smart financial admin services to more than 250,000 SME’s across the UK. With a strong Issue 12 2020 25 Company: Tide Contact: Sarah Penney Website: www.tide.co Oct20248 Oct20248 Small Business 100 119