There’s brisk demand for asset finance from the construction, haulage and warehousing businesses continues, despite Brexit concerns. Contributor Daniel Bailey, Managing Director – Arkle Finance.
Investment appetite was highest among construction sector firms, which posted a 152 percent increase in demand for asset finance products. That’s according to Arkle Finances figures. Similarly in the haulage industry, there is a 115 percent growth in finance secured against transport and logistics assets compared with 2017 lending levels.
Lending to the gym, health & beauty, and manufacturing sectors has also grown steadily over the past three years, increasing 128 percent, 59 percent and 48 percent respectively across those sectors since 2016.
Lending to gyms almost doubled in 2017, posting a 96 percent increase on 2016 levels, before increasing by a further 16 percent last year. Meanwhile lending to the manufacturing industry has risen consistently in the last few years, rising by 23 percent from 2016 to 2017, and then by a further 20 percent from 2017 to 2018.
New lending to all sectors increased by 14 percent in 2018, more than double the 6 percent growth achieved in 2017. Daniel Bailey, managing director of Arkle Finance, commented:
“It’s reassuring to see how many of Britain’s SMEs continue to invest in their future by seeking finance to help them grow.
“Construction and haulage are both sectors being buffeted by Brexit uncertainty, yet our data shows that many firms in these industries are investing in new assets to keep their competitive edge.”
