Barclaycard has announced its partnership with Travis Perkins Group to launch a new range of co-branded business cards
With no fees attached, the cards will provide customers with an extended interest-free credit period of up to 116 days for all purchases made at the initial participating companies.
There will also be an interest-free credit period of up to 56 days on all purchases made in other retailers where the cards are accepted.
Barclaycard research revealed that a fifth (20%) of small businesses cite cash flow as one of the day-to-day challenges that can negatively impact business growth, second only to the current economic and political uncertainty.
In fact, working capital ranked as a greater concern than other common obstacles, which included high overhead costs (19%) and worries around customer contracts (18%). Barclaycard stated that it is committed to supporting businesses tackles these problems.
Ian Reid, director of small business at Barclaycard, said: “We’re excited to launch this partnership with Travis Perkins and Toolstation, two of the biggest names in the industry. While cash flow remains one of the main challenges for any growing business, we know that the construction industry, in particular, is comprised of many sole traders and small teams that frequently make up-front investments before they themselves get paid. We hope our extended interest-free offer will be another way to help them take control of their cash flow.”
John Meaden, marketing director at Toolstation, added: “Our successful growth as a business has been built on listening to our customers and providing them with the products, prices and services they need, in the right place at the right time. Our trade customers told us they wanted interest-free credit facilities, and our partnership with Barclaycard, one of the world’s leading and most trusted financial service providers, is our response. We are confident the cards will prove very popular, offering another great reason to shop at Toolstation.”