By Rhys Davies, senior manager, Armstrong Watson Skipton
LAST week, David Richmond wrote an interesting article reporting on a survey undertaken by Armstrong Watson and fellow members of the Association of Practising Accountants (APA) into the current issues and concerns facing local businesses.
As might be expected, one of the most significant standout findings was that the biggest challenge for businesses is the current concern surrounding Brexit and the economic uncertainty this brings. Inevitably, this could negatively impact upon growth, with over 50% of businesses admitting they were unlikely to make any capital investment within the next 12 months.
Whilst it is might be a worrying time for business, standing still is by no means the answer and looking at opportunities for investment and maintaining plans for growth is important.
But where do you start?
READ MORE: Nearly 60% of businesses ‘think UK will be worse off as a result of Brexit’
Finding the right kind of funding to support your business is crucial and often this means looking above and beyond traditional bank loans. The most appropriate commercial funding is very much dependent on each business’s own circumstances and it is important to seek professional advice to look at the extensive range of options available.
Very recently, we have successfully supported a number of businesses, in varying sectors, to secure vital finance through our large portfolio of funding partnerships.
Amongst those supported by Armstrong Watson included a fast-growing mechanical engineering subcontracting business operating in the construction sector. Via strong partnerships and our ease of access to commercial funding solutions, we were able to help the company obtain competitive finance quickly and easily, providing valuable support to the business as they continue their growth journey.
When it comes to commercial funding there is more choice available than ever before, but finding alternative options and knowing which one is right for your business is no mean feat.
To explore the range of business funding options available, download a copy of our free guide at armstrongwatson.co.uk/commercial-funding or get in touch with Andy Preece, commercial funding director, at email@example.com or Rhys Davies – firstname.lastname@example.org, 01756 620000.