British SMEs to Prosper Post-Brexit

British SMEs to Prosper Post-Brexit

Lee Murphy

Owner at Pandle

Views 333

British SMEs to Prosper Post-Brexit

24.11.2016 10:15 am
Following Philip Hammond’s ‘final’ Autumn Statement, the UK government has set the best stage possible for UK SMEs to prosper once Article 50 is initiated next year. By unlocking one billion pounds of new finance to growing firms, more startups will be able to scale up, and in turn, provide more competition in the markets. This will allow for overall greater growth and innovation, and assist in augmenting the speed of innovation in respective sectors, something essential in enabling businesses to thrive in our economy. Furthermore, consumers will experience better prices, services and options as a result.

One of the major concerns to come out of Brexit has been on exports, with companies now having to consider separate licences for all the countries with which they wish to export their goods or services to. By doubling the UK Export Finance capacity, British SMEs will have a much easier time exporting to foreign markets, and also a great incentive to help tackle the trade deficit.

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