Crowd2Fund has predicted a post-lockdown boom in business due to alternative revenue streams, pent-up demand and an end to Brexit uncertainty.
The peer-to-peer business lending platform said that experts predict an exceptional summer of spending and growth, contingent on the successful easing of the lockdown and a continued, efficient rollout of the vaccine programme.
Crowd2Fund is expecting increased demand in products and services that have been unavailable to consumers and businesses during the past 12 months.
The platform also noted the end of Brexit uncertainty, saying that there will be more trade opportunities for businesses.
It predicted a post-war sentiment when lockdown ends so more people will spend money.
And with a lack of international travel, more people will be spending in the UK, Crowd2Fund added.
“There has been more capital injected into the economy and people’s pockets directly than ever before – and many have not had the opportunity and freedom to spend it,” Crowd2Fund said in a blog on its website.
“The successful (Brexit) trade deal has also given many a more optimistic outlook on the UK economy.
“This optimism will be reflected not only in people’s attitudes but also within the plans and strategies of many businesses that have held off on projects for the past five years due to Brexit unpredictability. Brexit limbo is finally over.
“Since Brexit there have been 93 trade deals signed worth £897bn. After the lockdown, the opportunities created because of these trade agreements can begin to be fully realised.
“As a natural reaction to the relief that the lockdown is mostly over, people will be jubilant, happier, and generally more willing to spend money on themselves, friends and family in celebration of a brighter daily reality.”
Crowd2Fund said that many businesses adapted to Covid by diversifying to have new revenue streams and product offerings that can still generate money even when they return to re-offering their pre-Covid products or services.
Crowd2Fund said there will also be delayed product launches and an opportunity for businesses to fill in the gap where others have collapsed.
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“There has been an unfortunate loss of businesses during the pandemic,” Crowd2Fund said in the blog.
“And though extremely sad, the reality is that this will create more space for new businesses that offer more innovative and competitive products and services.
“Many businesses which have seen reduced trading will have spent their time developing new products and services that they’ve not yet had the opportunity to launch. We’ll see many of these on the market as the UK starts to open up.”