The food and drink industry is seeking to raise equity as the UK pieces together the key elements of its Brexit strategy.
There is uncertainty regarding how Brexit will affect the food industry, including whether it will continue to adhere to EU rules and how that will impact the cost of importing food.
Wholesale food prices are rising, resulting in many small businesses within the industry highlighting concerns about costs and margins.
Amid these concerns, 41% of food and drink-based SME’s interviewed by Think Business Loans said there were unsure of their ability to invest in their business over the next 12 months.
While 65% of SME’s think cashflow is important to their business, 30% still find it difficult to access the finance they need.
The majority of business clients turn to Think Business Loans because they have either been turned down for a loan elsewhere or were unable to arrange an application.
Jamie Stewart, chief executive officer of Think Business Loans, warned that ongoing Brexit uncertainty, or an economic downturn, could disrupt supplies and lead to increased prices.
Its finance matching technology, iFunds. works with businesses to search and compare finance lenders based on customer criteria and speed up access to funds.
Think Business Loans compares finance from a range of high street lenders, including Barclays, Lloyds, RBS and Santander as well as challenger banks including Atom Bank and Metro Bank.
