Brexit is looming and business owners across the UK have been concerned about how they’ll fair in these uncertain times.
The truth is, Brexit could be a positive thing for many SME’s and here’s why…
Banks have recently made greater efforts to create financing opportunities.
In reality, no one knows what will happen if/when Brexit goes ahead, although preparation and utilising the resources available are key.
Close to a third of SMEs believe that Brexit will have a positive impact on their business. - OCO Consulting’s Global SME Brexit study
What do the Entrepreneurs think?
We’re cautiously optimistic around the opportunities Brexit might bring, although there will doubtless be challenges too! Everything points to long-term consumer growth coming from Africa, India and Asia, rather than the European economies, and – handled well – Brexit will allow exporting companies to set their sights further than they have previously. - Sean Ramsden, Founder and CEO, Ramsden International (www.forbes.com)
‘Uncertainty’ and ‘opportunity’ are the two words I most closely associate with Brexit. On the back of uncertainty rides opportunity, which is where genuine entrepreneurs thrive and will always do so. Like many owner-managed companies, we have continuously sought ways to increase market share, create new solutions for clients and add value. The British Isles have throughout history been known for their trading capabilities and now more than ever we need to remember this and step up to the mark. Thanks to clients who trust us and the people who work alongside us, UK entrepreneur-led businesses can make a difference – no matter their size – one solution at a time. Kate Jolly, Co-Founder, The Briars Group (www.forbes.com)
As a result of the weaker pound, private equity firms will be able to invest far more in UK industries, thus being able to safeguard local businesses and keep thousands of jobs where they should be – here in Britain.
Although, there is no certainty surrounding what will happen in the next 6 months we recognise that Brexit will undoubtedly have a big effect on businesses. It is possible that more trading will be done inside the UK, which is likely to have a positive impact on businesses.
Upon leaving Europe there are many opportunities for new trade deals with China, Asia, India & Canada which is an exciting prospect for businesses in the UK.
The changes wrought by the Brexit vote have forced business owners to question how the UK will invest into new skills and technologies. Since SMEs make up 99% of UK companies and 60% of all private sector employment, there are many reasons to be optimistic.
The UK government has expressed its intention to build an industrial strategy, to ensure that the UK’s local economies and infrastructure are fit for competing in a 21st-century world. Part of this industrial strategy means investing in new science and technology; this can only benefit SMEs in the long term.