CBI: UK growth to reach 1.8% by 2021
A report released this week by the CBI forecasted that economic growth over the next two years will remain “modest” at 1.3 per cent in 2019 and 1.2 per cent in 2020, picking up to 1.8 per cent in 2021. This is based on the assumption that the UK leaves the EU by the end of January 2020 and has “clear line of sight” to an ambitious trade deal, involving alignment with EU rules, said the report.
Chief economist Rain Newton-Smith said: “Business continues to show remarkable resilience after more than three years of crippling uncertainty. In that time, firms have continued to go about their day jobs, playing a vital part in driving economic growth, but they’ve been beset by headwinds. Alongside perennial Brexit uncertainty, they are also contending with softer global demand.”
Regardless of how clear the outcome of Brexit negotiations will be. Whatever happens, the UK’s small to medium businesses have the opportunity to grow and expand economically as more investors are more willing to contribute towards national businesses.
The small business arena makes a hugely significant contribution to the UK economy, forming 98% of private sector businesses. This is due in no small part to the entrepreneurialism of the UK’s business leaders and start-up founders who provide a fantastic range of innovative ideas and SMEs that drive the private sector forward.
The UK’s small to medium businesses have proven to be the ‘underdog’ of the financial sector as they continue to contribute £1.9 trillion towards the UK’s economy. Despite fears of a no-deal Brexit, IW continues to assure that this business and many other private investment houses such as Inflexion, Graphit Capital and BC Partners are shifting their focus to SMEs through funding and new strategic business plans to kick start a positive post-Brexit UK.
To find out more about IW Capital, or for more information on investment and non-executive opportunities, please speak to a member of the IW Capital team today on 020 7015 2250, or email info@iwcapital.co.uk