UK SMEs shrug off Brexit concerns

Figures released by the alternative lender have seen that application volumes for its finance facilities were running at 28% higher than in the week leading up to the Brexit vote.

The figures come after Just Cashflow launched a mobile app in March as the lender looked to use fintech to transform how SMEs received finance.

John Davies, director at Just Cashflow, said that in the run up to the referendum differing reports about which way the vote was going to go was causing a tremendous amount of uncertainty.

“The one thing all businesses hate is uncertainty and we weren't surprised to see SMEs postponing investment decisions. 

“We expected this cautious approach to continue for some time, while all the speculation about the ramifications of Brexit continued.

“However, the significant increase in application volumes we are now experiencing and conversations we are having with business owners reveal a different story.

"They are saying a firm decision has been made and Brexit will be Brexit, it is going to take time, but we can't put our lives on hold while the politicians debate what it will look like –  we need to get on with growing our businesses."