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Backing the businesses driving growth in new technology


While declining consumer confidence has had an impact on many sectors of the economy, the country’s appetite for new – or newer – technology seems undiminished. Computers, mobile phones, tablets, online gaming, social networking, downloads, ’apps’ and other gadgetry are so much a part of our modern world that it is perhaps time we dropped the ’new technology’ label and accepted such things as simply the way we live today


Behind this continuing growth in technology, and our dependence on it, are far-sighted and committed businesses that are often moving into new fields, investing in long-term projects and backing ideas that may one day change all our lives.


Those businesses depend on the kind of informed and in-depth support provided by a bank with the track record and specialist skills offered by Barclays Corporate, the corporate banking division of Barclays Bank plc.


The bank’s commitment to specialist relationship directors is reflected in the make-up of the new southern-based technology, media and telecoms team set up to support companies operating in the technology field.


Led by Anthony Donohue (pictured), head of technology for Barclays Corporate Southern, the experienced team specialises in backing businesses across the south of the country, with an emphasis on high-tech hotspots such as Oxford, Guildford and Reading.


Barclays Corporate supports companies involved in software development, hardware manufacture and business support and outsourcing, an area where new developments include cloud computing, an increasingly popular way of storing data safely while reducing infrastructure costs.


“By employing locally-based relationship directors across the region, Barclays Corporate offers the best of both worlds,“ Donohue added. “We have specialist knowledge of the technology sector but we also understand local issues.“


Barclays Corporate can also call on indepth support from Barclays Capital, the investment banking division of Barclays Bank plc, and benefits from the global reach of the bank’s wider operations, including the new division being set up in the US.


Back at home, the team’s detailed knowledge of the sector allows it to support clients that need funding that reflects the longer-term focus of the sector.


“When we structure debt proposals we look at revenue recognition and the way the client’s research and development policies affect cashflow,“ said Donohue.


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“As an example, a generalist looking at an apps business might see a reasonable level of revenue but be concerned about the sums being re-invested in research and development. With our more detailed understanding of the IT world we can interpret the research and development spend over the longer-term and evaluate the business’s true potential.“


The bank’s commitment to specialist relationship directors is reflected in the make-up of the new southern-based technology, media and telecoms team


Barclays Corporate also understands the way in which technology acts as an enabler that allows other companies to enhance their customer service, and has close links with a wide range of industry experts such as Anthony Miller from TechMarketView.


“We believe we can help technology companies not just with finance but with business intelligence that can add value to their operation and support their growth,“ said Donohue.


Barclays Corporate has provided committed funding totalling nearly £2 billion to support the growth of more than 800 companies in the technology sector. The bank also provides support such as global cash management,


THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – FEBRUARY 2012


advice on international trade and asset finance.


While business confidence generally remains low, the technology sector continues to grow with many making the most of the opportunities provided by the growth in mobile technology.


“Businesses are reducing their spend on office infrastructure but are spending more on cloud computing and mobile technology,“ said Donohue. “Companies that are creating software that improves efficiency are in a strong position to grow as businesses look to reduce their costs.“


Donohue warned that the biggest risk posed to businesses by ever-changing technology was being left behind. “Being stuck with obsolete hardware or out-of-date IT systems can be a disaster,“ he said. “If your business depends on technology – and there aren’t many that don’t these days – then talk to us rather than putting off an upgrade.“


’Businesses are reducing their spend on office infrastructure but are spending more on cloud computing and mobile technology’


Social media, meanwhile, is a major growth area that Barclays Corporate is also using in order to stay abreast of the trends and opportunities affecting its customers.


The bank subscribes to Artisan, a specialist software package that scours social media networks and picks up client or sector references that Donohue and his team need to be aware of. “It helps us to understand the kind of things that are impacting on our clients and puts us in a strong position to offer proactive help,“ he explained.


Details: Anthony Donohue Head of southern TMT 07775-546014


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