Following Britain’s decision to leave the EU, small businesses were already beginning to count the cost of the possible implications affecting their businesses. Rumours even had it that major European Cities saw the UK’s out vote as a major opportunity to claim London’s crown as the leading start-ups hub on this side of the Atlantic.

With initial worries about potential skill shortages, a reduction in investment capital for start-ups and the inevitability of greater caution being issued by Banks towards lending policies, the forecast appeared to be rather bleak.

Such repercussions meant that it came as no surprise that many UK Entrepreneurs were fearing the worst for their businesses. Colin Pyle, Co-founder of the e-commerce coffee pod start-up, CRU Kafe, reiterated these initial fears by stressing that “The simple truth is that funding UK start-ups is now less attractive. We’re competing in a global market and exiting the EU represents substantial risk in the eye of investors”.

In fact, one of the main dilemmas lingering over the Brexit issue for businesses is to do with importers, with foreign goods becoming dearer. There is also the risk associated with European Union tariffs, especially if the UK loses access to the free market.

Hope is not lost…. Why post-Brexit could become more attractive to entrepreneurs

Despite these concerns, believe it or not, post-Brexit could be more attractive to entrepreneurs and offer more for start-ups. Firstly, there will be lighter regulations, meaning it will be easier to set up a company than anywhere else in Europe. We will soon have the lowest corporate tax rate of any major economy, with our rates scheduled to come down from 17pc to 15pc, compared with 29pc in Germany and 33pc in France. In addition, the rate of capital gains tax for entrepreneurs is just over 10pc, meaning that anyone who starts a company here can keep almost all of what they make. There is also a pool of talent and venture capital money available that makes the UK one of the easiest in the world to grow a business. The huge devaluation of sterling has just made the UK a lot cheaper as well.

How to thrive and make the most of post-Brexit Britain

Despite the uncertainty surrounding post-Brexit Britain, if you or one of your clients are the owner of a new company, or are thinking of starting up your own business, then now might be just the perfect time to thrive. By seeking the right advice promptly, you should avoid making any mistakes relating to market issues, governance and management failures, including poor funding, thus, enabling your business to blossom.

At PCR, we can assist by:

  • Managing cash-flow in order to ease pressure
  • Assisting with financial forecasting and restructuring
  • Analysing the company structure and its viability

OFFER

At PCR we offer a free initial consultation and company health check. The health check will provide answers to SMEs and their owners as to the ability to continue to trade, their viability and available options.

Accessing our offer

Simply telephone your nearest PCR office. Our telephone numbers and advisory team members can be found by visiting our website. You can also access and complete a contact form. Please quote STARTUPS17 in your correspondence.

Once we are contacted, we will discuss your business with you in more detail and if appropriate arrange for one of our experienced qualified advisors to visit on a day that is convenient to you.

Our promise

Please note this service is free and confidential with no hidden costs or obligations.


Contact Information

Middlesex Office: St. Martin’s House, The Runway, South Ruislip, Middlesex, HA4 6SE
0208 841 5252

Bristol Office: 77A Alma Road, Clifton, Bristol, BS8 2DP
0117 239 0343

London Office: 1-7 Harley Street, London, W1G 9QD
0207 291 4465

Milton Keynes Office: 2-14 Margaret Powell House, Midsummer Boulevard, Milton Keynes, MK9 3BN
01908 309 950

Newcastle Office: Suite 108, Collingwood Buildings, 38 Collingwood Street, Newcastle upon Tyne, NE1 1JF
0191 229 9656

Sussex Office: 50 Ham Way, Worthing, West Sussex, BN11 2QH
01903 366 020

Ask for your free health check using our priority contact form ››

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