Print industry ‘yet to feel effects of Brexit’
Research from Close Brothers has revealed the supply chain concerns UK SMEs from multiple sectors have regarding Brexit, including the Print sector.
The asset finance specialist polled 900 businesses – while 56% say they have felt no impact on levels of business from the UK’s decision to leave the EU, a further 20% said it was too early to tell; only 24% had felt any kind of effect.
In the Print sector, Close Brothers says the results closely reflected those of the UK as a whole, which means it’s clear that the majority of Print businesses are yet to feel any real and tangible effect from Brexit.
In terms of spending decisions, more than three quarters (76%) of businesses have not delayed spending or investment decisions because of the EU Referendum.
Roger Aust, Managing Director of Close Brothers Asset Finance Print division, said: “Once again, Print businesses reflected exactly the national picture, but what is interesting to note is that 88% of smaller firms – those with a turnover of between £250k to £500k – were the least liable to allow the EU referendum stop them from pushing their business forward and investing.
“Close Brothers has a history of lending through all economic cycles, and experience tells us that these organisations aren’t sitting on large reserves of cash, meaning that in order to maintain business levels they typically don’t have a choice but to spend and invest to ensure a sustainable flow of cash.
“Firms don’t become unviable overnight; we see it as our responsibility to do what we can to ensure our customers, who are in the main SMEs, remain in business and can build towards a profitable future.
“One alternative to consider is restructuring your business finances to make any rise in costs easier to deal with. A great way to do this is through asset finance, which is where our team of experts at Close Brothers Asset Finance can help.
“Print is a significant player in the UK economy but there are ways to mitigate the risks and still have a productive and successful business.”