We’re in a vicious circle with our economy at the moment.

We need businesses (like yours) to grow and create jobs so that people have more money to spend with businesses (like yours!).

Unfortunately, banks have been reluctant to lend money to businesses and that’s caused a problem because without that funding SMEs can’t invest and grow.

However, we might be turning a corner today because one of the banks is breaking the cycle with a new campaign to boost confidence among small and medium-sized businesses.

Barclays will stage a series of 85 clinics across the UK aimed at increasing lending to SMEs. The campaign aims to involve 1,600 firms.

It comes on the back of figures from the British Bankers’ Association revealed new lending to SMEs fell 10 per cent in the first six months of this year.

Barclays’ retail and business chief executive Anthony Jenkins said: “We are committed to helping revitalise the UK economy which is dependent on small businesses having the confidence to invest and grow. From the top to the bottom of the UK, our lending clinics will take the mystery out of borrowing.”

The clinics aim to give business owners the chance to tackle senior bank representatives about the barriers they feel are in place when it comes to applying for finance. Company bosses will be offered advice on how to prepare for making a loan application, as well as being talked-through the process and discuss alternatives.

So, what do you think? Will this initiative make any difference or is it just a PR stunt for Barclays?

Here at 08Direct, our glass is always half full and we firmly believe in being positive rather than negative, optimistic rather than pessimistic. So we are very supportive of anything that will help our customers prosper and although we know that Barclays can’t be solely responsible for resolving the UK’s economic woes, we’re keeping our fingers crossed that other banks will follow Barclays’ lead and together it will kick-start the UK economy again.