As the City confronts the looming Autumn Budget, Cavendish signals potential short-term fiscal instability.
The investment bank urges the Chancellor to bolster support for SMEs amidst anticipated tax hikes.
Cavendish, a prominent investment bank in the City, has raised alarms over potential ‘short-term uncertainty’ with the upcoming Autumn Budget. The firm is pressing Chancellor Rachel Reeves to enhance support for small and medium-sized enterprises (SMEs) rather than diminish it. This call comes as investors brace for potential tax increases aimed at addressing a public finance shortfall.
Cavendish remains committed to its core goal of becoming the leading full-service investment bank for growth companies. The firm continues to navigate the evolving financial landscape with strategic foresight.
Previously, the company reported an operating loss of £3.9 million for the fiscal year ending 30 March 2024, compared to a £1.9 million loss earlier, indicating financial challenges.
The firm also increased its cash reserves by 40%, reaching £17.2 million by 30 September, solidifying its financial position.
Following these updates, Cavendish’s shares saw a rise of up to 7.2% in early trading, reflecting investor confidence.
Cavendish remains optimistic, drawing on its recent successes to continue building a robust service offering.
The firm’s proactive planning and strategic foresight aim to mitigate potential disruptions caused by policy changes. Cavendish continues to adapt to the dynamic economic environment, preparing for possible fiscal shifts.
Cavendish recognises the imminent economic challenges but remains steadfast in expanding its services and strengthening its market position. The firm’s strategic approach and increased financial resilience inspire confidence in its future amid fiscal uncertainties.
