Despite the result for England in the final, small businesses will have welcomed the boost the tournament has brought them, along with the easing of Covid restrictions. Latest figures from one of Johnson Reed’s panel of lenders, Hitachi Capital, have found that SMEs are becoming confident with 29% now predicting growth, compared to just 10% when the pandemic began.
With research suggesting that figures of over £3billion were spent on the day of the final alone, along with the boost the economy has had due to the easing of restrictions and subsequent return of customers to hospitality and leisure settings, business owners can certainly have something to smile about.
With confidence rising and restrictions easing we may start to see our businesses thriving again. Our managing director, Mark Johnson, commented, “A combination of the warm weather (albeit not permanently), easing of restrictions, people re-engaging with family and friends, and the progress of Scotland, Wales and particularly, England in the European Championship, has given our business owners a reason to be optimistic and reassurance they can be confident. As always, we are here and ready to support you at any stage of your growth.”
The trophy may not have come, but we can take lessons from the optimism, drive and passion shown by the England team, manager Gareth Southgate, his backroom staff and all those fans that supported the team in the right way. After a tough 18 months for companies, business owners and their staff, we all needed something to raise our spirits, and this EUROs campaign certainly did that. Hopefully now, just like our national team, our SMEs can look to the future, and continue to grow, improve and achieve their goals.