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Barclays has launched a support package for start-ups in Portugal.

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The initiative aims to reduce the cost of starting a new business by offering more than traditional banking products.

After opening their accounts, business customers will benefit from free products such as current accounts, credit cards and online banking facilities for two years.

They will also be able to draw on the expertise of Barclays key commercial partners in the technology, telecommunications, accounting, IT and marketing sectors, including companies such as Google and Microsoft.

The partnerships guarantee discounts worth up to €1,900 a year for Barclays customers.

Barclays is the only bank in Portugal to provide a dedicated financial support service to entrepreneurs looking to establish their first business.

This is a clear demonstration of the organisation’s commitment to Citizenship, a fundamental part of which is contributing to growth in economies around the world.

Also this month, Barclays announced additional funding of up to £60m over the next three years for start-ups in England. This is expected to help create 4,200 new businesses by providing loans to entrepreneurs who complete a training programme and have a viable business plan.

This activity will contribute to our 2015 Citizenship Plan commitments to provide at least £50bn of new or renewed funding for small and medium-sized enterprises (SMEs) and support 120,000 SMEs through business seminars, tools and training.

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