Tomorrow’s nation of shopkeepers
With the value of shopping centre deals in the 1st quarter of 2013 being more than 50% higher than the whole of 2012, according to Savills, the current and future entrepreneurs in the retail sector are receiving a big boost of confidence.
We continue to see a pattern emerging of opportunities for SME retailers in the high streets of the UK and in our major shopping centres.
For the last few decades landlords have been focused on maximising rental incomes and in the strength of the covenants of their tenants. Now people understand the importance of filling empty premises, both in terms of revenue and in not having unsightly property that can quickly appear derelict.
It is only now that many retailers in the SME sector are coming to terms with the fact that banks will not / cannot support this sector.
Asset finance lenders are becoming seen as mainstream funders for all sections of commerce and industry.
With an attitude that speaks of willingness to support and a speed of service not seen for years, your high street entrepreneur now turns to asset finance first, frequently organising funding for the complete fit-out of his premises whilst retaining the bulk of his capital for stock and working funds. No longer do tomorrow’s shopkeepers have to wait weeks or months to be told by a bank that they are a bad risk or in a high-risk sector.
Today’s funders are helping to change the face of our town centres and bring much needed support, encouragement and a positive spirit so desperately needed by our economy.