Businesses Shrug Off Post-Brexit Blues. How Can Your Business Benefit?
We’ve recently seen some good news, and UK business growth is on the up, alongside customer confidence. In this post, we rundown how business and economic growth looks post-Brexit and how your business can benefit.
How Do We Know Businesses and Customers are Happy?
A recent report from The Guardian has claimed that Britain’s businesses have appeared “to shrug off Brexit blues”. The report is not without prompt and empirical evidence, too. In the wake of the UK’s shock decision to quit the EU last year, many businesses and financial institutions were pessimistic about the state of the UK’s economy.
However, a new release from the Bank of England last month revealed that the Bank is now broadly optimistic about the UK economy post-brexit and is predicting faster growth, lower unemployment and growth of around 2 per cent in 2017 (matching the 2016 performance).
The Bank believe that most of this growth will become about because of improved prospects for global growth; especially in America where we have seen tax cuts and infrastructure since his Inauguration. In the UK, this will also be helped by the interest rate cuts we first saw in August which, according to the Bank of England have gained “more traction” than expected.
Finally, from the report, it is also thought that customer spending in the UK has been far stronger and more resilient than first thought. Rather than cutting back post-Brexit, customers have instead carried on spending thanks to a rapid rise in the availability of customer credit.
With all this considered, it’s perhaps no wonder that business optimism in the UK in the first quarter of 2017 increased to +15 from -8 in the previous period, according to CBI Business Optimism data. So, with this in mind, how can your business benefit from this growth in consumer and business confidence?
How Can My Business Benefit?
Your business can benefit from this by investing wisely in your own growth. This could be through expanding your own business by employing more staff or offering new products, or by investing in other companies or scaling your business.
With the internal growth, as an SME owner, you’ll know your strengths and weaknesses and the best avenues for growth. However, if you’re looking to grow through acquisition of another company or grow through offering an IPO, then corporate broking could be a better option. Here, you can enlist the help of an expert to provide you with strategic, technical and regulatory advice.
Whether you’re employing more staff to deal with larger orders or acquiring a competitor or start-up to help you achieve your next goal, there are a number of ways that your business can grow. Now looks the ideal time.
To conclude, both business confidence and consumer confidence is high, so now looks the time to invest. You can do this independently or with the help of others.
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