Why SMEs should feel upbeat about 2017

Despite all the speculation around the effects of a 'hard Brexit' on the UK economy and British business, as well as the doom and gloom following a volatile 2016, there are still plenty of reasons to feel positive about the coming year. Here we summarise a few:

London's tech sector is booming
Many investors are looking away from the markets and turning their attention to startups. And where better to look than London, where the startup community is buzzing, especially in the digital/tech arena, where London still leads the way as the best city in Europe for digital entrepreneurs. In fact, UK tech companies have attracted more investment and more merger and acquisition activity than any other European company since the Brexit vote!(1)

Tourism numbers are up  
Whist British holidaymakers are having to suffer more expensive holidays, the hospitality, leisure/tourism and retail sectors in the UK are benefitting significantly from the pound’s post-referendum slump. That’s good news for many UK SMEs!(2)

The housing market has gained momentum
With a 0.4 per cent rise in the price of property coming to market in January as compared to December, the housing market has seen a good start to 2017. Adding to this, a window of opportunity for first-time buyers has also opened this new year, with more stock of smaller properties coming available for sale.(3)

More of us want to start our own business
Entrepreneurial activity across the UK has hit an all-time high* and this must be celebrated and encouraged. With one in 10 Britons wanting to startup on their own in 2017(4), there has never been fewer barriers to starting up a new business. Just make sure you partner with an expert business adviser who will provide strategic advice and guidance to help you achieve success and maximise wealth. *[Barclays Survey, Dec 2016]

At Beavis Morgan, we specialise in working with SMEs and entrepreneurial people across a wide range of sectors, helping them set up and run their own businesses and guiding them through each stage of the process, whilst navigating the challenges and advising them in making the right decisions both now and for the future.

To find out more about how we can assist you with your entrepreneurial ideas and business aspirations in 2017, contact Steve Govey or your usual Beavis Morgan Partner.

(1) London still leads the way for digital startups
(2) Retail and tourism boosted by slump in the pound
(3) Positive start to 2017 for UK housing market
(4) More Britons looking to go it alone in 2017