SMEs plan £1.7bn Brexit boost

Small- and medium-sized companies are planning a £1.7bn Brexit investment boost over the next two years, according to new research.

The latest study by Together has revealed that those SMEs planning to invest claimed that they expected to spend an average of nearly £370,000 each.

Investment plans are even higher in Yorkshire and the Humber, and the South East, with an expected investment of nearly £450,000 on average.

The study showed that 27% of SMEs planned to move premises, while 23% intended to expand their workforce in the next two years.

In addition, 42% of SMEs were optimistic about the future following the December general election. 

Andrew Charnley, head of corporate relationships at Together, said: “The investment taps can now be turned back on…

“However, they will need support from lenders who do not take a ‘one-size-fits-all’ approach and are willing to look at proposals in the round, including focusing on business prospects and regional differences.”

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