UK Referendum on Membership of the EU

The 24th of June 2016 will go down in history as one of the biggest decisions our country has made in a generation.

The pollsters predicted a narrow victory for the Remain campaign but by the time the results started to filter through in the early hours of Friday morning it became evident that the mood of the majority was for a change. 

The final results have divided communities and families not to mention those at the very heart of our government with almost half of Conservative MPs, including five cabinet ministers voting to leave the EU.

The value of the pound swung wildly on currency markets and the stock market took a nosedive but has since recovered to pre-Brexit levels.

The decision and timing to invoke Article 50 will now be taken by a different leader of the Conservative party and with a likely debate to be had on Scottish Independence already gathering momentum these are truly unchartered times.

Financially Strong

We would therefore like to take this opportunity to reassure all our clients that, despite the UK now entering a period of increased economic uncertainty, Skipton Business Finance - as a wholly owned subsidiary of the Skipton Building Society Group - remains financially strong with strong liquidity and sustainable growth as seen in the Group’s latest annual results announcement.

We see no reason for it not to be “business as usual” and we are ideally placed to continue to support owner-managed businesses to achieve future success and we remain very much open for business as was the case throughout the last economic downturn back in 2008.

If your business is affected by the EU referendum and you need additional support then you are encouraged to contact your Relationship Manager in the first instance to see if we can be of assistance.

We along with all businesses regardless of size will continue to watch the unfolding events but be assured we are well placed to face any challenges ahead and are committed to making the most of any opportunities as they arise.