Mastercard launches Strive UK to support the nation’s micro and small businesses to adapt and thrive in the digital economy
Mastercard launches Strive UK to empower British micro and small enterprises to thrive in the digital economy over the next three years.
Strive UK will support small businesses to build financial resilience and improve growth prospects.
Programme comes as new research finds £827 billion growth opportunity for UK’s small businesses.
Today, Mastercard launches Strive UK, an initiative that will empower 650,000 British micro and small enterprises (MSEs) to thrive in the digital economy over the next three years and beyond.
Strive UK is an initiative of the Mastercard Center for Inclusive Growth, which advances equitable and sustainable economic growth and financial inclusion around the world. The programme aims to empower micro and small businesses around the country to succeed in the digital economy through free guidance, helpful tools, and personalised, one-to-one mentoring. For example, this will include a data science powered ‘One Stop Shop’ for entrepreneurs with curated recommendations on support, resources and tools available to help them grow their business, as well as 1:1 support for businesses to identify and adopt the right digital tools for them.
Small businesses play a critical role in the UK economy, accounting for around 36% of turnover in the UK private sector and making up 48% of the labour force. Despite this, they have been hit hard by the pandemic, with nearly two thirds of small businesses seeing revenue decrease.