Industry Spotlights & Insights #1

Sevenoaks Mens Hockey Team

More certainty now after turbulent times

By Jamie Nelson, Co-Founder & Director, Compass Business Finance

Although I am not one for putting my feet up, I’ve been forced to by a freak knee injury sustained playing hockey a couple of weeks ago. And that’s given me an opportunity to reflect on the challenges and opportunities in the market.

International conflicts, historically high inflation and energy prices, a pandemic over the past few years, and now a general election looming. Not such good news.

All these issues have contributed to economic turbulence in the UK. But while the economy is not in the best place, there’s probably more certainty now than we’ve had for a while.

Whereas during the Covid pandemic some people held back on investment, they now need to move their business forward in one way or another. Whether it’s upgrading equipment or looking at new technologies, investment will also invariably lead to efficiency savings.

Jamie Nelson, Director

Together with many in the wider financial community, I found it uplifting listening to Rachel Reeves talking about Securonomics (the word introduced by the Labour Party relating to a modern form of supply-side economics).

Another positive is that it looks as if full expensing will continue, whichever party is elected, so companies will still be able to deduct the full cost of new and unused plant and machinery from their taxable profits in the year of purchasing. This will promote investment by companies.

I also believe that more opportunities will continue presenting themselves through us working closely with the British Business Bank, a relationship that has developed brilliantly over more than a decade.

A lot more activity will be on the cards for mergers and acquisitions, which is a market in which we’re well positioned and have a lot of expertise.

The underlying feeling from customers is a lot more positivity this year.

Long may that continue!

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Compass is an independent finance company with an innovative and relational approach to the market.

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