…Has Had An Impact On Investment
The fuss over the UK’s exit from the EU may have died down in the popular consciousness as people have largely resigned themselves to the inevitable, but the fallout in the business world is still playing itself out. This has led to many asset finance brokers blaming Brexit for decisions among business owners to delay investments.
This was at least the findings of a survey by United Trust Bank. Despite a long term boom in asset finance lending as businesses become more aware of its benefits compared to traditional forms of lending, 67% of asset finance brokers have said Brexit has had an impact on investment decisions.
The problem is said to be particularly evident in the vehicle, plant and machinery sectors indicating a fall in confidence in businesses that are likely to be seeking investment in these areas of their businesses.
Just over one third of asset finance brokers 33% felt that the UK’s exit from the EU wasn’t having any negative impact.
Much of what plays out in the coming months will depend on what deal the country makes with the EU and for businesses, whether or not their operations will be affected by Brexit if their market is largely or wholly domestic.