Now that we are a few weeks into 2021, ABL joint managing director, Andy Redman, reflects on the lessons learned and achievements made in 2020 — as well as predicting trends in the industry in the coming year.
The opportunity for learning in the past 12 months has been like never before, and in true ABL style we have embraced this with open arms.
We supported businesses across the Yorkshire region with a coronavirus business finance support helpline — speaking to over 500 businesses. It was great to be able to signpost firms to the financial support available.
We also pulled together as a team, learning about the situation as it unfolded and trying to keep abreast of new information to keep our advice relevant.
With over £65bn* of government backed business loans accessed, we then had to look forwards to assess the level of impact this would have on ABL — and the wider finance market — and decide how we were going to trade out successfully.
We launched our new brand position in September, focusing on our team approach and our expert knowledge that to help navigate businesses and their advisors through the tricky post-Covid commercial finance waters.
We predict that specific advice for businesses will become more important — many businesses will have to make difficult decisions. There will be a fundamental change in the way businesses do this, and the fairness economy will play a big part.
*correct at point of writing