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UK adopts charter to support small, medium-sized businesses as Brexit looms

The U.K.'s top banks and other lenders pledged to help small and medium-sized enterprises prepare for Brexit and beyond as the Oct. 31 deadline for the country's departure from the EU approaches.

The Business Finance Council, co-chaired by Business Secretary Andrea Leadsom and Economic Secretary to the Treasury John Glen, adopted the SME Finance Charter in the presence of representatives from the banking sector, the British Chambers of Commerce, the Federation of Small Businesses and alternative lenders.

The charter aims to ensure lending options are available for SMEs post-Brexit, among other things. The parties agreed to collaborate with the government-owned British Business Bank to assist in securing financing for SMEs for investment and expansion.

"Finance is available, and I would urge SMEs to talk to their providers and get the advice they need to scale up on a truly global stage ahead of us leaving the EU and into the future," Leadsom said.