The forecast is bright for the British hospitality industry in 2017. The longer-term impact of Brexit seems to imply that more and more Brits will choose a ‘staycation’ – that is, will refrain from holidaying abroad in favor of spending their hard-earned cash in UK establishments. This is, of course, great news for small business owners within the industry, and yet with this news comes the responsibility of being prepared for the new rush of business, whilst equally being realistic in the knowledge that your current cash-flow need to be implemented in order to see your company through the initial hostile waters of uncertainty. Will cash advances grow in use, are bank loans a thing of the past?
The Day to Day
Though the future may look promising, we are all painfully aware of the day-to-day struggle of cash-flow solutions for our small business. Brexit may look to be improving our books as it rolls into motion, but the waves of its initial impact are certainly still breaking and there is an undeniable climate of uncertainty in the air. In terms of spending, in the near future and the run-up to Christmas, people may be staying in more, airing their wallets less, and be unwilling to partake in the luxuries our industry provides – that is until they can be surer of which way the Brexit fall-out ball will roll.
Hospitality in 2017
However, as we move in 2017 this should settle, and now is the time to be making preparations for your business. This is the calm before the storm and though it may seem counter-intuitive to invest more money when business appears to be falling off – nothing could be further from the truth. New finance providers for small businesses are providing solutions by which you don’t have to wait to wait for the cash flow to invest in your company’s future. 2017 looks to be a strong year for small businesses in the hospitality industry. It’s time to invest in yourselves and build a strong foundation off which to ride out the Brexit roller-coaster. These new-wave of cash-flow solutions, such as 365 Business Finance, are making it easy to do so. Never has there been a fairer and more risk-adverse way to get the money your business needs to be it's very best. Merchant cash advances mean that even in the slow build-up to next year’s positive outlook you can be built to optimize your business in times when it would otherwise be impossible. 365 Business Finance is offering solutions whereby you can take out an advance cash loan to cover the costs of improvements, but only have to pay it back as and when your business rolls in. Therefore, in quieter patches, you pay back only an agreed percentage of your credit income, but when the cash starts flooding in – as we suspect it will do in the coming year – your loan will be re-payed with ease.