The Government’s proposed Industrial Strategy, Invest 2035, highlights eight “growth-driving sectors” set to deliver the highest opportunities for the UK economy over the next decade. Three of these are service sectors:
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Professional and business services
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Creative industries
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Digital and technology
What this means for your business
Support is expected to be channelled to these sectors to help businesses invest and grow. Initiatives are likely to focus on net zero, regional development, and economic resilience.
We anticipate more grant schemes for businesses with clear growth potential, as well as programmes to help you explore new markets, such as exporting overseas, and initiatives to train and upskill your workforce.
Planning for the months ahead
We know service sector businesses have faced significant cost pressures, from wages and freelancers to office overheads, equipment, subscriptions, and software. These costs have often risen, putting extra strain on cash flow.
At certain times of the year, particularly January or February, cash can be tied up in work-in-progress or debtors while bills still need to be paid. Without a surplus, even seemingly successful businesses can struggle during these pinch points.
How to prepare
If you expect a cashflow shortfall in the New Year, it’s worth getting in touch now so we can help you plan ahead and avoid a crisis.
Looking further ahead, if you want to take advantage of the Government’s growth initiatives, we can work with you on your strategy to make your business attractive and eligible for any relevant schemes when they launch.
Supporting your funding needs
In a fast-moving business environment, confidence comes from knowing you have access to the cash you need.
We have access to a platform of over 100 UK business lenders offering a wide range of short- and long-term funding options. This means we can help you find the right solution, whether you need support for immediate cashflow, investment, or growth initiatives.
For more information about any of these areas, please contact Cian Iddison.
