SME: Buying the best of British22nd March 2017
A great time to be a British SME
Following a surge in patriotism, British consumers are increasingly seeking to purchase locally. In fact, according to a report by GS1, titled Buying British in 2017, buying British has never been more popular and shows no signs of halting. Undoubtedly, this comes as fantastic news for UK SMEs regardless of whether you’re a startup or well-established. Consequently, the time to cash in on this trend is now!
Once more unto the breach
British consumers are increasingly taking note of where products, produce and services are sourced. This is helping to keep our cash circulating inside the UK and local communities, to the benefit of all. According to the report regarding the food sector, 79% of consumers are now taking into account where produce was sourced. 60% of those asked also confirmed that being British is just as important as the price and quality of the produce, with 55% purchasing specifically on account of their British origins.
However, the food industry isn’t the only sector benefiting from the surge in British patriotism. The UK apparel industry has also benefited vastly and shows an average growth rate of 21% amongst startups. Plus, on account of the quality and reliability of British goods, the sector is also garnering interest from overseas. According to the report, over a six-year period, there has been a 25% rise in UK exports.
Plus, if you’re a British drinks producer there’s great news for you too! Since 1970, where the number of breweries stood at a meagre 140, this figure has since blossomed astronomically to around 1,700. This marks a sharp escalation in the popularity and demand for British alcohol. For gin distillers specifically, their numbers have doubled over the past 6 years and are reporting combined sales surpassing the £1bn mark for the first.
Brits leading the way
Being British and in business is great, but to continue this upward surge towards further greatness, access to finance is going to be more necessary than ever before. As high street banks continue to be naysayers and pull up the drawbridge on SMEs, we in the alternative finance sector are lowering ours and firmly nailing it down.
At Rangewell we recognise the important and substantial role that SMEs play in the British economy. SMEs account for over half of UK jobs and contribute just as much to our overall GDP, and the alternative finance industry stands ready to offer UK businesses access to funds they need to succeed and aspire to greatness.
But with thousands upon thousands of finance products to choose from, finding the most appropriate finance solution for your business is no simple endeavour. However, it can be with the right help and support. The finance extraordinaires at Rangewell are extending a helping hand and sourcing the right finance solution for your business. With our help, your business could benefit from products such as business loans, Hire Purchase solutions, Invoice Finance and so much more!
Our values are simple – We’re on your side.
At Rangewell, our values are simple – We’re on your side. Our services are clear and transparent. We support a wide range of SME businesses of every shape and size, for finding every type of finance. Follow us on Twitter and LinkedIn for business tips and tricks, and feel free to call us on 0203 637 2340 if you’d like to chat about what we can do for you.
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