Whilst the UK will have to work hard to over come the immediate reverberations of Brexit and the ongoing challenges we face upon exiting the EU, whilst there are still unknowns it’s not all doom and gloom. The BREXIT pebble whilst making potentially strong ripples on the UK economy, has a much weaker ripple effect internationally and this is worth bearing in mind when we consider the economic and business future for business owners in the UK on the whole. Sterling remains weak against the Euro and the Dollar, which is buoying exports. However, consumers are still somewhat squeezed as this makes imports more expensive and has resulted in higher ongoing inflation rates making our money go less far. Inflation is set to rise slightly from 2.2% to 2.4% in the US also so we are not alone in our consumer struggles.
Balancing this out, UK economic growth whilst not dramatic has been steady and we all know that slow and steady wins the race. Following a bruising recession and a slow climb out of it, we can all rest assured that our banks are well capitalised and futureproofed in terms of their reserves. A cautious approach by the current government with regard to cash reserves to deal with the Brexit costs is also something to be relieved about.
Industrial production in the UK has been impacted negatively by gas and oil extraction disruption, however this stabilised somewhat in February. A less volatile test is manufacturing output which is due to have its 10th consecutive year of growth. Whilst UK interest rates remain low, it remains the only tool that the BoE can use to reel in inflation and it would seem that in the coming months Mark Carney will indeed have no option but to raise interest rates.
So what impact will this have for businesses?
One thing is for sure, we are all set for a bumpy and unpredictable ride over the next 18 months and this compounds the need for all businesses to really assess their current health and make decisions about whether they baton down the hatches and raise cash reserves or whether they decide to step up and take a leap of faith.
Challenges are present, but challenges can also be overcome. Leaving the single market and customs union have the potential to upset the economy and disrupt it in the short term and there will undoubtedly be a period of adjustment, but nothing is insurmountable and the UK will reach a new equilibrium with the EU and find a new symbiotic relationship with its European partners which will lead to a stronger economy in the coming years.
It’s a great time to expand or start your business
Given this backdrop its certainly true that there has never been a better time to start a business or expand a current business. This is particularly true in the private health economy because whilst it is a growing market, it is also ironically a healthier market than ever because consumers are voting with their feet and choosing the best healthcare that they can afford. The healthcare profession is not at the mercy of imports and exports to the same degree that other manufacturing businesses are for example. With the advancement in digital dental and implant technology provides cost effective market solutions for practices and patients.
Dealing With Your Capital Commitments by Using A Finance Broker
However, it’s clear that setting up a new such as a veterinary or dental practice requires a huge commitment in terms of expensive specialist equipment, which is somewhat off-putting to some practitioners who delay their decision to break free from a practice and start their own due to these prohibitive costs. However, Help is at hand in the form of finance brokers. Finance brokers smooth the wheels of commerce by acting as a funnel to attract the best rates and filter these down to their clients.
The European economy will be shaped by a final Trade Bill with the UK should the Backstop Position not be adopted which would keep the UK in the customs union and common market. Across the world the EU and UK will establish an integral relationship. Practice owners are used to adapting to change and futureproofing their business. One strategic measure that can be adopted is to use finance experts like Snowbird Finance who have many years’ experience of dealing with established and new businesses and helping them to optimise their potential.
Wide Ranging Financial Solutions
Snowbird Finance are experts in a wide range of innovative financing options ensuring that you find the optimum financing deal for your purposes. We can advise you on the best options that will suit your business and practice for the short and medium term. It’s important for businesses to build a cash reserve to even out cashflow and uncertainties within business. Therefore, taking out financing is the most cost effective way to start or expand your business as you are not affecting your cash reserves. Snowbird Finance are the choice of many successful businesses within the medical profession including dentists, vets, opticians, cosmetic and aesthetic practitioners, simply because we have specialist knowledge of how the industry operates and the challenges it faces. This means that we can hit the ground running and advise you of the optimum ways to finance new equipment or expanding existing premises.
Bespoke Finance Solutions
Our financial experts can create a bespoke finance plan for your specific needs harnessing the best rates across the finance market and ensuring that we research every option for your business. This may include peer to peer lending options which can provide extremely competitive rates or asset financing or financing invoices. All these options and more are available to businesses who wish to harness and unlock new finance streams to develop their practice.
Using a broker removes the complexity of dealing with banks and other lenders and ensures that there is a smooth transition for your finance with minimal disruption to your business.
As independent whole of market brokers, we can access a full range of finance for our borrowers and provide a fair market analysis of the best options for you in terms of affordability, risk and value. We have built up a network of lenders and financing solutions which work and which we can tailor to your specific needs.
Flexibility
You want to know that as your practice grows, so too will your financing options. Here at Snowbird Finance we want to build a finance solution which is flexible and fits your needs over the short to medium term. We’ll even help you to complete the paperwork and guide you through the entire process to ensure it is as smooth as possible. Moreover, if you get turned down for a loan by one lender we can find alternatives with equally competitive rates
Time saving
We know finance, it’s what we do, but in particular Snowbird finance are experts in medical finance, this means that we understand the market from every perspective. We research the market for you bringing you back the best scenarios for your financial requirements at the lowest rates with the best terms. We save you time so you can concentrate on ensuring you are able to get on with future proofing your business and dealing with your customers.
To find out how Snowbird can help your practice to achieve its growth aspirations, email us on info@snowbirdfinance.co.uk or call 01932 874674
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