Bank launches Manchester SME hub
CYBG has launched an SME hub and retail store in the heart of Manchester.
It said the investment is part of the bank’s expansion of its retail and SME offering across the UK, and the store in Manchester further strengthens its presence in the north of England’s economic powerhouse.
The opening also comes ahead of the February launch of the RBS incentivised switching scheme.
B works offers a range of retail and SME banking services, a business banking centre, co-working space and free-to-use private meeting rooms for local freelancers, entrepreneurs and small businesses, and a presentation and business showcase space.
It will also include the B Social Studio to enable SMEs to create their own social and digital marketing content and podcasts with the support of onsite experts, as well as a regular programme of business events in partnership with a range of Manchester-based businesses, including Boohoo.com, Manchester Metropolitan University and Freeformers.
David Duffy, chief executive at CYBG, said: “Our heritage and track record for supporting SMEs and the economy in the north of England is well-known and I’m delighted we’re further strengthening our presence in Manchester by opening our B Works store.
“Small firms and local entrepreneurs are forecast to contribute £12bn to the local Manchester economy by 2020 and with the number of SMEs operating in the region increasing by 36% in the last eight years, Manchester is an exciting place to do business.”
Henri Murison, director of Northern Powerhouse Partnership, said:
“It’s good news CYBG is increasing Yorkshire Bank’s presence in the North West, strengthening its SME offering and bringing its digital expertise to Manchester.
“B Works is a huge vote of confidence for the North West’s SME community and highlights the strength of Manchester as a place for new, growing businesses.
“The bank has been a strong supporter of the Northern Powerhouse agenda and this investment further demonstrates its commitment to driving the North’s ambition, particularly as so much of our future growth to make us greater will be built by our SMEs.”
The opening of B Works is the final part of CYBG’s preparation for the RBS incentivised switching scheme. The bank has invested £12m in the business ahead of the switching scheme opening.
Duffy said: “We’ve invested heavily in ensuring switching customers can seamlessly move to Yorkshire Bank, and we believe we are well positioned to offer a genuine alternative for SMEs looking for a new home for their banking.”
