Spotcap find 77% of SME brokers are upbeat about Brexit

By Oliver Smith on Tuesday 10 September 2019

Alternative Lending

Borrowing among property, professional services, construction and manufacturing industries is booming.

Spotcap find 77% of SME brokers are upbeat about Brexit
Image source: Niels Turfboer, managing director of Spotcap.

Over three-quarters of commercial finance intermediaries in the UK expect the number of loans they broker to increase after Brexit, with more than half saying the number will rise “by a lot”.

In July Berlin-based online lender Spotcap asked 132 UK brokers, accountants and advisers about the future of SME finance in the UK, the results of which it published today as part of a report entitled The State of Commercial Finance in the UK.

The report and survey were compiled with the support of the National Association of Commercial Finance Brokers (NACFB) and the Financial Intermediary & Broker Association (FIBA).

“The research chimes with our own view of the commercial finance broker’s role in supporting and advising business borrowers,” said Graham Toy, CEO of the NACFB.

“Brokers have a positive outlook partly because they remain instinctively agile, with many of them having weathered the unpredictability of a post-2008 world.”

Crucially those brokers and advisers involved in property, professional services, construction and manufacturing were among those most upbeat about business growth.

The responses weren’t overwhelmingly positive, especially around Brexit with one in four respondents naming the political situation a key challenge, while just one fifth said it would bring new business opportunities.

“Commercial finance intermediaries are an important part of the SME funding jigsaw. The survey insights show that there is a lot of potential for them to help fill the  £22 billion funding gap,” said Niels Turfboer, managing director of Spotcap.

“The more adaptable and open-minded to change intermediaries—and lenders—are, the better and faster they can compete and grow their business.”

Sign up for our newsletters

Your daily 7am download of all things alternative finance and fintech.

Fintech and alternative finance headlines with an exclusive Editor's Note each week. Delivered Monday at midday.

AltFi's new weekly US newsletter breaking down the ins and outs of America's burgeoning fintech sector. Delivered Monday 9am EST/ 6am PST.

Companies in this Article:


More like this:

Exclusive: Tide scoops up Funding Options in its first acquisition

Editor's Pick

29 November 2022
Oliver Smith

Zilch poised to axe 10 per cent of workforce

28 November 2022
John Reynolds

UK Strikes Singapore fintech deal

28 November 2022
Daniel Lanyon