PREPARE FOR BREXIT

With the likelihood of a no deal Brexit increasing by the the day, it is important that you are informed of the potential ramifications for your business.

Whether you are a sole trader, an SME or a multinational company, there is now a greater need to take steps to ensure that your business is ‘Brexit Ready’. While there is still some uncertainty as to how or when the UK will leave the EU, it’s important for you to be aware of what Brexit may mean for your business.

Brexit could affect your business in a number of different ways. You may not be importing from or exporting directly to the UK but one of your suppliers may be, and under EU law businesses have different responsibilities depending on where they are situated in the supply chain, (for example, manufacturer, importer, wholesaler distributor, etc.). In addition, your business may experience a reduction in turnover or cashflow as a result of Brexit. Therefore, you need to anticipate how Brexit will impact your business and plan for it accordingly.

There are supports available from Enterprise Ireland and the government of Ireland, which are to help businesses deal practically with their Brexit exposure, seek advice, apply for grants or funding, avail of customs training and make plans to protect their business:

Government of Ireland : Getting Ireland Brexit Ready

Enterprise Ireland : Prepare for Brexit

While there is still some uncertainty, it’s important for you to be aware of what Brexit may mean for your business and your daily life.

If you have any questions in relation to the above or if you would like to discuss this topic further, please do not hesitate to contact a member of our team.

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