The past few months have been full of forecasts about how Brexit could be the death of SMEs. Max Chmyshuk has a different opinion, and this piece is convincing - and not just because it's what we want to hear.
The All Party Parliamentary Group recently published a report called "Stepping Forward for Fintech," highlighting the achievements of prominent fintech companies as proof that the post-Brexit economic climate is just as good, if not better, for our fast-growing fintech companies.
And a good outlook for fintech is a good outlook for SMEs, especially when one of their biggest problems seems to be access to finance. From alternative lenders to comparison platforms, finding finance has gotten a lot easier for businesses in this country, enabling growth even after the loss of the AAA credit rating and threats of relocation from several British businesses.
The committee also stressed that more needs to be done to inform SMEs on the numerous and varied funding options that are now accessible to them. Business owners who are, for instance, concerned about taking on large amounts of debt to fund their expansion, need to be educated on the number of flexible finance options available outside of the banks.