Investment trade body the UK Business Angels Association, which represents over 18,000 angel investors, has underlined the fact that as Brexit approaches, SMEs must be more financially prepared than ever for a potentially difficult Brexit.
The backdrop is that the UK was recently named as the unicorn capital of Europe, with six different billion-dollar companies added to the UK’s portfolio in the last 12 months alone. These include Revolut, the digital banking startup and Blue Prism, the robotic software corporation.
The UKBAA believes these success stories represent the best of British entrepreneurship, but as the country’s business community heads towards Britain’s departure from the EU, it will be more important than ever that SMEs are financially prepared.
What’s more, with a majority of UK businesses now beginning preparations ahead of a potentially costly transition period, both the finance and mentoring offered by business angels are more pertinent than ever. The role of angels in navigating a Brexit-proof private sector will be critical as the full scale of the transition becomes clear to business leaders seeking new finance.