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SMEs prepare to ride the Brexit storm by shoring up finances | Purbeck

  • SMEs endeavouring to plan for Brexit will be looking carefully at cash-flow to gauge how much pressure they can take without additional borrowing.  The main concern is that day to day running costs will rise – this might be due to material costs going up, wage bills increasing as the migrant workforce reduces and higher warehousing costs for stockpiled goods. 

Purbeck Personal Guarantee Insurance Brexit and SME finances

More than 1 in 4 SMEs plan to raise finance to stay afloat

  • More than 1 in 4 UK SMEs are planning to raise finance just to keep their head above water a new survey[i] has revealed. The research carried out by Purbeck Insurance Services, the UK’s only insurance provider to offer Personal Guarantee insurance found 28% plan to use finance to improve cash flow and this is currently the main reason for securing a business loan or new form of finance.

SMEs raising finance to stay afloat

When financing your firm gets personal

  • If you run a business you know about risk taking.  The personal risk the owners of SMEs take to get their business started, to keep it going or to expand may go with the territory but also to a large extent goes unnoticed and unappreciated by the staff they employ.  That’s just how it is running a business. Nevertheless it can be lonely at the top and can seem even more so when financial pressures start to tighten. 

Business financing and personal risk

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