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What’s best for SMEs more: staying in or leaving the EU?

It’s an important question whose answer is far from clear. Whatever the result of the EU referendum, there is a financial impact for SMEs and alternative finance has a role to play in helping them manage these uncertain times.

Regardless of the politics, what is critical for small businesses at the moment is financial stability. The level and tone of campaigning from both Vote Leave and Vote Remain camps has already reached a dizzying level, making it almost impossible to predict the result of the referendum with any certainty. Given the possible implications of the vote for SMEs, keeping a clear head and maintaining a steady strategy over the next few months will be no mean feat.

That’s why it’s vital to have a secure financial plan in place and why alternative finance and services such as invoice finance, peer-to-peer lending and crowdfunding have an essential part to play in SME finances going forward. In such uncertain times, flexibility, transparency and affordability when it comes to accessing finance are vital and with traditional lenders remaining cautious, small business owners need another option.

Alternative finance has already earned itself a place at the heart of SME finance and the sector is set to further cement its mainstream position in the second half of 2016, in particular as small businesses face other headwinds in the shape of pension auto enrolment, the National Living Wage, the Apprenticeship Levy and cyber security demands. Whether used independently or in conjunction with traditional services, alternative finance can help small businesses manage the choppy waters ahead.

There are a few more months until the vote, during which time the campaigning will no doubt get even more dramatic. Regardless of the outcome, the SME financial objective remains the same: to maintain stability and be in a strong position whatever environment they find themselves in. Alternative finance should be part of the planning.

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

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