facebook  twitter  linkedin  goggle  yelp  

phoneicon call us: 083-1086692

Brexit proofing your business

in Blog

Brexit

Brexit is the withdrawal of the United Kingdom from the European Union. On 29th March 2017, British Prime Minister, Theresa May, triggered Article 50 starting the process. There is a 2-year window for negotiations on how a range of issues will be dealt with. For example inter trade, freedom of movement, EU citizens living in UK, UK citizens living in EU and of course border between Northern Ireland and The Republic of Ireland are all details that need to be worked out. This is only a sample selection of what will be discussed. There are also a range of financial issues that need resolution.


How does Brexit affect your business?

I have heard several buinesses talk about I only trade in Ireland so it doesn’t really affect me.

WRONG.

Every single business, no matter what industry, will be affected by Brexit. 80% of the UK’s economy comes from providing services, so while you may not buy from or sell to the UK, somewhere along the line your raw materials will pass through. This creates the risk of increased transport costs, Export/Import costs, and of course, exchange rate issues.

Brexit won’t happen until 2019 so I have loads of time to plan

Again, this is incorrect. Brexit proofing your business NOW gives you the opportunity to be ahead of the game, to have a strategy to ensure you have made a contingency plan for the “doomsday, worst case scenario” Let me be clear, No one knows, 100% what will come from the plan, or if article 49 will be triggered, bringing the UK back into the fold. But based on the information that is available, if you know where to look, and what you are looking for, at very least you will have a contingency plan that could actually BOOST your business, and open new avenues of trade.

What should I do?

If you have the time, and wherewithal to understand the “techspeak” get on line, and do as much research as you can to find exactly how your industry will be affected. If you don’t want to take time out from your business (and let’s face it, none of us have that time) talk to an expert who can give you industry specific information.

Devlin and Associates have run a number of workshops around the country giving both the basics (group setting) and more in-depth look based on your industry (one to one) We offer a range of packages where we can alleviate the fear that Brexit holds for many. We regularly communicate with both the UK and EU negotiating teams sharing fears, and getting answers to what might happen. We are in a unique position, as we communicate with both sides, to draw conclusions, and to prepare for the overall outcome.  

If you would like to talk to us about your business then call 0831086692 or email This email address is being protected from spambots. You need JavaScript enabled to view it. with the subject BREXIT.