Jump to MenuJump to Main ContentJump to the SidebarJump to About A&T Business AssociatesJump to How A&T Business Associates are DifferentJump to How A&T Business Associates WorkJump to Our LinksJump to our Industry NewsJump to Legal InformationJump to Viewing OptionsJump to SearchJump to Site MapJump to Contact Page

How start-ups can navigate Britain’s choppy economic waters

Successfully launching a start-up has never been easy, but current market conditions make it especially challenging. With uncertainty set to continue, non-bank finance should be part of an entrepreneur’s survival kit.

The impact of Brexit and costs relating to the likes of auto enrolment, the living wage and cybersecurity make setting up a company a daunting prospect. New figures from the UK fraud prevention service Cifas, that show an almost 70% rise in identity frauds between 2010 and 2016, underline just how real these pressures are.

Yet, entrepreneurs are not being put off – according to company formation specialists Inform Direct, whose figures are based on data from Companies House and the Office of National Statistics, the number of businesses being formed in the UK has broken the four million mark for the first time. In 2016 alone, almost 665,000 companies were formed in the UK.

Such is the number of new firms that the Federation of Small Businesses has launched a membership category: pre-startup. These members can learn from an expert business advisor and benefit from strong networking opportunities. Hopefully, amongst the specialist advice on offer is that relating to start-up funding and cash flow management, and the role of alternative finance.

While traditional lenders remain a powerful player on the SME market, the small business finance landscape has changed significant in the last decade. Non-bank finance has risen rapidly to become a vital resource for small business owners squeezed by big bank cautiousness. Invoice finance, peer-to-peer lending and crowdfunding are now well established, popular finance services, whose accessibility, affordability and flexibility has proved a lifeline for small businesses, including startups.

Looking ahead, there is little to suggest that the choppy waters of the UK businesses market will become much calmer any time soon. As such, entrepreneurs wanting to stay afloat would do well to have non-bank finance on board.

To find out more about A&T Business Associates services, contact us on 01903 602211 or info@atbusinessassociates.co.uk.

Return to the News Page