SMEs are continuing to thrive

Despite economic uncertainly around Brexit, SMEs are continuing to thrive in the South West. According to the FSB more than half of small firms in the region have steady or increasing profits, with three quarters reporting steady or increasing headcounts.

In particular, micro-businesses employing up to nine people make up the fastest growing business sector by size, and start-ups are continuing to increase.

Nevertheless, running a small business can be challenging. Often the toughest barrier to overcome is arranging suitable finance to start a business in the first place. Finding funds to purchase essential equipment can seem overwhelming, with many high-street banks reluctant to provide loans. Even once a small business has been established for some time, problems accessing funds to take on more staff, equipment or premises can prohibit growth and expansion.

Fortunately, there are alternative finance options available to small businesses, which don’t demand huge repayments or the provision of other assets as security.

At Ignition, we have helped hundreds of small business kick-start their new venture, or grow their existing business, by providing finance for virtually all business-critical assets, with options including commercial loans, leasing and hire purchase.

For example, in recent months we have helped finance kitchen equipment and refurbishment works for the new owners of the Harbour Moon Inn in Looe, a new Crusher Bucket for Airfield Plant Hire in Winkleigh, and a fleet of 12 Citroen vans for commercial decorators, the Rogers Group, in Plymouth.

It is not just the traditional, tangible business assets that Ignition is able to help fund. Finance is available for other essential business tools such as IT systems, databases and marketing campaigns.

At Ignition, we value building long-term relationships with our clients and help provide finance without the usual hassle.

Most credit decisions are made within just four hours. To find out how we can help your business, contact us on 01872 272900 or visit www. ignitioncredit.co.uk

Paul Caunter is managing director at Ignition, a leading UK provider of vehicle and asset finance for SMEs, based in Truro. He explains how asset finance can help small businesses start up, succeed and grow