Drink Up & Cheer Up
For a lifetime we have seen the banking sector supporting corporate organisations to the detriment of local small entrepreneurs. We saw the rise of the national chains in white goods retailing, sports clothing and the restaurant, coffee shop and license industries.
The local shop and restaurant owners and licensees have been pushed out and discouraged by high street rents and lack of banking support.
Now we see more and more corporates, who the banks have hung their hats on, falling over, but in spite of pressure from the government and the Bank of England the banks are still not or not able to assist the SME sector.
Encouragingly, as we know, the good will always survive and prosper! The brewery industry is changing rapidly thanks to the proliferation of independent local brewers whose products are readily available in pubs and bars across the country as well as all the supermarket shelves.
The local brewer now understands that the days of struggling to find sufficient support from high street banks are over. Now, like his industry, there is a major growth of asset funders ready to support the license trade and its suppliers as well as all the sectors of the SME market.
For 40 years the hospitality industry has used asset finance as their main source of funding. Now retail, gyms, the beauty and medical sector, manufacturing et al have come to realise that funding support, professionalism and speed comes from asset funders, not banks.