Julie Cheung Blog | How To Get Business Funding Post-Brexit | Talkmarkets
Financial Writer

I’m a freelance webby type person from Manchester, UK. Currently learning to trade Forex (FX) as a part time hobby with hopes that it’ll become a full time profession one day. Always looking at different ways to grow my finances including alternative investments and savings ideas, ... more

How To Get Business Funding Post-Brexit

Date: Wednesday, May 10, 2017 10:44 AM EST

Written by James Sinclair at Trade Finance Global.

Following a historic election last July, Britain voted ‘leave’ from the European Union. On the 29th March 2017, Theresa May officially triggered Article 50, which has triggered the process for Britain to leave the EU.

Brexit impacts UK businesses in many ways; the pound is much weaker so exporting goods becomes easier, however, trading overseas will have its challenges around new taxes/duties, and passport rights (several US / Asian companies establish in the UK to access the EU).

ACCESSING FINANCE FOR BUSINESSES

At some stage in most business life cycles, finance is often required to help maintain or grow a business, whether you are a startup or a large company.

Let’s not beat around the bush: getting finance for your business is hard.

A recent FSB study showed that 40% of UK businesses intend to grow into other markets and invest in growth in 2017, yet still, over 50% of CEOs put raising finance as one of the biggest challenges their business faces.

WHY DO BUSINESSES NEED FINANCE?

Businesses might want to access finance for a variety of reasons, such as:

  • Growing and expanding into new markets
  • Addressing working capital challenges- bridging the gap between getting paid and paying parties in the supply chain
  • Research and development
  • Purchasing an office or commercial property
  • Testing a new idea and bringing it to market

Here we list 3 innovative ways that business owners and CEOs are financing their businesses:

1 Crowdfunding

What is crowdfunding? Simply put, crowdfunding is a bottom-up type of finance where consumers group together to invest in businesses or products. The aggregate of this can be used to finance business.  

Some record deals and extraordinary business funding feats have come out of crowdfunding. Examples include;

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