FISERV, a leading global provider of payments and financial services technology that has a significant presence in the UK, recently announced the local launch of the company’s Back2Business programme.

Designed to strengthen small, ethnically diverse businesses and enable them to thrive in a post-pandemic world, Back2Business offers businesses the opportunity to apply for £10,000 grants, and can provide participants with expertise and leading technology solutions such as the Clover^® point-of-sale platform from Fiserv, and connections to community partners.

From Thursday, 24^th June 2021 qualifying businesses can apply for grants for any purpose they choose, including technology investment, operational costs such as rent and payroll, premise re-design or marketing.

The Voice recently sat down with Neil H. Wilcox, Head of Corporate Social Responsibility at Fiserv, Inc., to get his thoughts on how companies can be a platform for good and why Fiserv has taken the initiative to help small businesses in the UK get back to business.

The Voice: How have businesses been impacted during the Covid-19 pandemic, and why have Black- and minority-owned businesses been disproportionately affected?

Neil H. Wilcox: The pandemic is a once in a century, or maybe once in two centuries type of event, and you saw a couple of things: a lot of businesses had to shut down and those that didn’t had to find new ways to operate. You saw that, for example, with restaurants there was a lot more take away orders so having an e-commerce platform was particularly important; and you saw that businesses – big and small – that were best-positioned were the ones that were able to pivot and adapt.

The pandemic really created a different operating environment, with reduced foot traffic and changes in terms of the way people and businesses transact. For me, these have been the biggest things. Businesses have had to adapt accordingly. You’re also seeing far less people using cash, instead opting for using cards, personal devices, and other touchless ways to pay for goods. If you were primarily a cash business, you were probably impacted to a greater degree than a business that was able to adapt or that had these capabilities before the pandemic.

Another part to consider is that, while there have been government programmes that were designed to help, and those are certainly appreciated, we have also seen that roughly two thirds of minority businesses had difficulties accessing those funds. So, the combination of reduced commerce and reduced transactions, not being able to adapt to new and different ways to conduct business, and the inability to access assistance hampered a large number of small businesses, particularly diverse businesses.

Why is it so important to support local businesses as we come out of lockdowns and how is this key in the economic recovery?

One of the things we found when we launched in the U.S. was that there is clearly a need to support small businesses and the communities where they live and operate, and if you are successful and able to support these businesses, then that entire community will do better. We found that community-based organisations are key partners because they are closer to the action, and they know the community well. They’ve been terrific partners to us because they’re looking to work with companies like Fiserv, that have aligned interests and can bring solutions and help. We discovered that community organisations are uniquely positioned and valuable in spreading the word to businesses that we maybe would not have known before, and then serving as a liaison once we either provide a grant or enter into the community, helping us to continue and maintain our engagement with that community.

Can you tell us about the Forward Together Action Plan and how Fiserv hopes to tackle important global concerns such as human rights issues, racial equality, and social justice?

I think we are at a pivotal point in time.  Given the events from the last 12-18 months, there is now a much greater awareness of many global movements and events that perhaps did not exist before. If you look at things in the corporate ecosystem – for example you have heightened expectations of ESG (Environmental, Social and Governance) reporting and the social component of that is very important.  I think what we have witnessed over the last year – with the pandemic and calls for racial justice – and the types of actions that people expect from companies, fits into that construct. Given where we are as a society and what we have endured, it’s crucial that we look to the future with an eye to making things better.

One of the reasons that I am incredibly thankful to be part of Fiserv is that we look for opportunities to do good – while also seeking ways to take action. A key component of our Forward Together Action Plan and the Back2Business programme is leveraging our talents and the things that we do well every day, and put them to action for good in communities that may be underserved, or that were impacted disproportionately by the pandemic. Personally, I would encourage people to look where they can lend their time, treasure and talent to help. I think what we are doing at Fiserv is an example of just that: picking areas where we have some expertise and experience, and trying to do good.

What is the role of Fiserv Employee Resource Groups – particularly the Black Leadership Council – in programmes like Back2Business?       

We have eight ERGs and they really serve as a platform for employees to share their perspectives, to exchange ideas, and to support and elevate one another professionally throughout their careers. Having that kind of a safe space is really important. The ERGs also serve as a means for employees to give something back or pay it forward, and again, it’s a platform for doing good. The Black Leadership Council in particular has been a very active participant in terms of not only supporting the Back 2 Business programme but also getting out and being part of our efforts in the communities where we have awarded grants, meeting with the merchants and providing support even after we awarded the grant. So, it really is a holistic way of engaging businesses and by extension, communities.

The fund for the Back2Business programme was increased from $10M to a huge $50M.  How has Fiserv been able to make a real difference in the heart of communities?

Our President and CEO, Frank Bisignano, announced the increase back in January – less than six months after we formally launched the programme. I think what became apparent relatively soon to us was that there is just a tremendous need to provide help, despite the existence of government funds and other resources. Part of our business is supporting small- and medium- sized businesses and we do that every day. However, this segment of the market suffered through the pandemic, and it was a great way for us to lend our support to help these businesses and help these communities. By expanding the size of the programme we’ve been able to reach even more small businesses, and help more communities. Every day we continue to look for ways to expand and innovate the programme beyond the financial component. We believe we can still help improve communities and support businesses even when the $50million is all allocated.

How can Fiserv make a difference to companies in the UK, specifically ethnically diverse businesses?

We hope it has a very similar impact to what happened in the U.S., which was targeted to the specific businesses, but also by extension the communities where they operate. Remember, it’s not only the grants – we are also providing access to business expertise and education.  Another thing we’ve done in the States is to create an online community among the grantees so they can share their positive experiences and hopefully share best-practises as well. We’ve also learned that we must adapt quickly, so we try and learn from our experiences if we find something that can be improved. Ultimately our goal is to help as many businesses and communities as possible.

Which key partners in the UK can help drive the Fiserv message forward?

The idea of having key partners such as Chelsea FC, the London Chamber of Commerce, and the Black Business Association is to help us reach a multitude of communities in different ways. In the U.S. we work with different sports clubs for example, so there’s an effective connection to a community given the name recognition and popularity among athletes and teams. Having people with established connections and roots in communities partner with us, and then by extension learning about what we do and what we have to offer, only helps the programme and helps spread the word to those most in need.

Can readers of The Voice access the business grant and what can it be used for?

Yes, there are certain criteria that should be met, for example, the business must be owned by a person from a diverse ethnic background, it must have been registered before January 2020, located in the UK with an annual revenue of less than £1m, and have a maximum of 15 employees. The grant can be spent on whatever the business needs to reopen or grow such as marketing, covering operational overhead, upgrading layout and design, or purchasing technology solutions.

Do you think Fiserv is leading the way in the industry in terms of this programme?

I think we are, but I would also encourage others to look for opportunities where they can lead as well. We want to do good, but personally, I don’t look at it from the perspective of keeping score. If all companies did what they could to help, our businesses and communities would be in a much better place.

HOW TO APPLY

Applications for the Back2Business programme open at 2pm BST on Thursday, 24th June. Businesses interested in applying for a grant can find details at aeoworks.org/fiservuk.

To be eligible, applicants must:

• Be a business that is majority owned by a person from a diverse ethnic background
• Be located in the United Kingdom
• Have a revenue under £1,000,000 per annum
• Have a business prior to January 2020
• Have 15 or fewer employees