Following the momentous decision of the British public to leave the EU, there has been much talk of how this will affect the UK economy, and in particular the finance and construction sectors.
Office fit-out and refurbishment projects require significant up-front capital investment but the rewards are only realised over time. With financing, your payments are spread over a longer period, so that you pay for your new workplace environment as you realise the benefits. This financial flexibility means you can move ahead with projects straight away without having to wait for capital to become available.
Shares in the high street banks have dropped sharply, which may start to impact on their ability and willingness to lend to UK businesses, in particular SMEs.
This is actually nothing new. Since the banking crisis of 2008, the banks have withdrawn or reduced significant amounts of their lending to UK businesses, so Brexit will simply further exacerbate the situation.
However, the good news is that since 2008 Office Principles have been working with office fit-out leasing companies to actively move away from the high street banks as a funding source and have built up a whole new group of funders, collectively known as the alternative finance sector.
Our finance industry has been completely revolutionised by a number of new entrants to the finance sector, meaning we are no longer reliant on the high street lenders but have plenty of other options. In fact, there are now more funding partners than ever before, all competing with each other to offer cheaper and more innovative finance solutions.
If you feel that your fit-out project is stalling because of the uncertain months ahead then why not consider the availability of funding or leasing? As experienced specialists in office fit-outs, refurbishments and relocation’s across the UK we can provide advice regarding the most suitable and effective leasing or finance option for your business. Our solutions will ensure that you can enjoy a new workplace without placing any limitations on your cash flow or other lines of credit.