Having secured a 2 week extension, the UK is now set to leave the EU by the 12th April, prolonging the economic uncertainty faced by UK businesses.
Uncertainty dampens business investment, stifles growth and lowers output. Whilst we’ve seen growing businesses continuing to invest in new or replacement equipment, we’ve also heard from and supported businesses looking to release cash from equipment they own to pay to build up a cash ‘buffer’.
At the same time, recent figures show that bank loans to UK SMEs have fallen in 74 out of 132 postcode areas as high-street banks continue to reduce their lending to SMEs whilst having to increase their own (costly) preparations for Brexit.
At Genesis, whatever the outcome we will continue to support UK’s small businesses with funding. As an independent, family-run lender we know what it’s like to own and run a small business and understand the challenges SMEs face. We take time to meet with every client, get to know them and build strong relationships that enable us to provide funding where others often say “No”.
If you want to find out how we #gotheextramile to support businesses, why not give us a call today?