Brexit funding

Small Businesses Seeking Over £2m Funding Per Day Despite Initial Brexit Fear

Small Businesses Seeking Over £2m Funding Per Day Despite Initial Brexit Fear

Small businesses are attempting to raise more funding now than they were pre-Brexit, according to figures from the National Association of Commercial Finance Brokers (NACFB). The NACFB’s internal figures revealed that businesses have enquired about more than £20m worth of finance since the beginning of the month – exceeding more than £2m every day and twice the amount reported in August 2015. The average loan size requested so far during August is £128,000, compared to £73,000 in July and £94,000 in June – suggesting businesses are more confident about life without the EU than previously predicted. Adam Tyler, chief executive of the NACFB, said: “Project Fear doesn’t appear to have rattled the small business community. August is typically a quieter month for funding applications, but... »