This Wednesday, Theresa May presented a draft of the Brexit deal agreed by negotiators from both the UK and the EU that could be the next step in implementing the UK’s exit from the Union in March. The draft contains assurances for EU citizens living in the UK and British citizens living in Europe that they would be able to continue living in their respective countries. As well as this, there are to be no tariffs or restrictions on goods but a question remain over the Irish border and customs union.
However, in a week of important announcements from the Government, it can be hard to see the wood for the trees at times. At this point it does not seem like the deal will receive parliamentary backing and it may be that instead, we see a vote of no confidence in Theresa May in the next few days. With either of these options, it’s likely that there will be a large amount of uncertainty to come in the next few months.
Uncertainty in any market is not ideal and this is especially true for small businesses who tend to be more easily affected. Therefore, getting this sorted out soon is imperative for the UK private sector moving forward.
Luke Davis, CEO of IW Capital, commented on this news and what it means for the SME sector: “The SME arena needs assurance that it has not been forgotten during the negotiations and as it forms the backbone of the UK economy it is as important for the Government as it is for the businesses themselves. A key part of ensuring the economy is Brexit resilient will be to protect and encourage the growth and scaling of small businesses, something that IW Capital has been involved with for many years now.”
IW Capital is keen to help SMEs that need assistance to plan for the future and find the right kind of investment in order to help them reach the next level. If you are interested in investment in knowledge-intensive SMEs or finding more information about EIS itself, get in contact with IW Capital to see how we can help you.