Many of us were surprised by the UK’s decision to leave the EU following the referendum last month, and it inevitably sent shock waves throughout the UK business community and international markets, as everyone tried to predict what kind of impact the decision would have.
A month on from the referendum, and although there is still some uncertainly as to what the future will hold, in typical British fashion there are strong signs that it is ‘business as usual’ for many UK companies. Although reports show that hiring and spending is generally down since the Brexit vote, the pound appears to be stabilising with the appointment of Theresa May as Prime Minister, signalling that investors are anticipating greater stability.
Certainly here at Ignition, we are as busy as ever, with no discernible impact on the number of SME clients applying for finance to grow their businesses. In fact, with current low interest rates, many businesses are taking advantage of the low cost of borrowing.
Whether in favour of ‘remain’ or ‘leave’ it seems SMEs are staying positive and making the best of the situation, which can only bode well for the future of UK business.