SMEs in the transportation and distribution sector are feeling optimistic about the industry as it prepares for Brexit.
According to the Hampshire Trust Bank’s (HTB) SME Growth Watch, over half of the sector (53%) are hopeful about the long-term economic prospects, despite 33% identifying that economic uncertainty was a hindrance to business growth.
Recent figures from the Association of European Carmakers (ACEA) also show that car manufacturing is continuing to improve, as it nears its pre-crisis levels.
Despite increased productivity, there are still a number of challenges that SMEs face in the manufacturing and transportation sector and support availability is critical to efficiency.
With the government’s recent ‘Clean Air Fund’ announcement, which includes ending the sale of diesel and petrol cars by 2040 and major road layout changes; ensuring that continued investment in transport links across the country is carried out is vital.
Importing and exporting is the crux of most SMEs and none more so than distribution and transportation firms, which is why it is important to ensure that they’re not ‘forgotten about’ when in competition against larger companies as we near an exit from the Union.
At Midlands Asset Finance, we know that SMEs are the backbone of the economy and that is why we put them at the heart of what we do.
Contact one of one of our relationship managers to find out how we can help you arrange finance in a time where SMEs are looking for as much support in growth as possible.