The news has been non-stop Brexit for a very long time, but still, no one really knows what it’s going to be like whether we leave with or without a deal.
If you’re a business owner, this Brexit-related uncertainty is tough. You don’t know how the economy is going to change, how it’s going to affect your customers’ buying decisions, and how your profit margins could be stretched.
The big question is – do you put your business plans on hold until we officially leave the European Union, or make bold moves while everyone else is feeling uncertain?
Business owners have mixed feelings
In April 2019, the Telegraph surveyed 25,000 tweets posted by British businesses and found
23% were “pessimistic” about Brexit, while 13% were “positive”. The positive tweets mainly involved subjects like UK growth and regional business success, while a massive 54% of the negative tweets were frustrated by the general lack of progress with the Brexit process.
What kind of changes are business owners making?
Many businesses are concerned about how a No Deal Brexit will affect their growth plans. Planning for the future is a business owner’s main priority, but it’s very hard to plan when no one knows what’s going to happen on or after 31st October.
Two thirds of SMEs reported they’re delaying investment until 2020, and 77% are less focused on increasing their sales. Many businesses that import and export to and from the EU are keeping a particularly close eye on the news.
Trade confidently with Capify business finance
According to the Bank of England, “UK banks are strong enough to survive a disorderly Brexit”. That doesn’t mean they’re going to be open to lending to more small businesses though – banks usually tighten up their lending criteria during times of uncertainty, just like they did during the 2008 recession.
Capify supported small business owners throughout the recession, and we’ll continue to support small businesses whatever uncertainty Brexit throws at us!
If you want to grow your small business, Capify can help you get the funds.
- Enter a new market confidently, whether it’s in the EU or not.
- Renovate or refurbish your shop, space or premises.
- Invest in new tech that speeds up processes and helps you serve more customers.
- Increase your marketing and advertising budget to attract a new audience.
Capify has been helping small businesses raise cash for 10 years, regardless of what’s happening in Parliament! You can raise from £3,500 to over £150,000, and repay it in small, manageable repayments.
Get a quick quote and find out how much your business could raise.Apply Online