Good News, Everyone!
According to this leading Business Index report, the small business output in Q1 of this year reached it’s highest point since 2008. They state “Small and medium-sized businesses in the UK enjoyed the strongest level of activity, year-on-year, for six years.” Essentially this means small businesses are performing better than they have in years.
Incredibly, this is all happening despite banks still being reluctant to open their doors to new business. When it comes to sourcing funding, small business owners are now turning to alternative methods of financing to help grow their businesses. There’s even been talk that if a bank rejects you, they should be obliged to refer you on to an available alternative. If this is something you’re struggling with, you could take a look at crowdsourcing options like Funding Circle, invoice financing like MarketInvoice or give us a bell to discuss further options.
Combining these smashing Q1 results with the improvingly positive attitude towards the economic climate, it looks like this year is shaping up to be a good one for small business owners. To ensure you make the most of it, here’s some advice from our London team to motivate you into action.