Posted on by in Member News

 

Brexit – nine areas of potential impact for your business.

  • UK market dynamics – possible market contraction; buy British campaigns
  • Currency – impact on profits; delayed decision making due to uncertainty
  • Customers – impact on customers leading to challenges and opportunities
  • Competition – expect new and increased competition
  • Sourcing – impact on cost, certainty and quality; dependence on UK distributors
  • Transport and logistics – established transport routes may no longer be optimal
  • Regulations and standards – may change for exporting to and importing from UK
  • Customs, tariffs and taxation – may see an increase in administration, cost and time
  • Movement of people – possible restrictions

 

The Brexit SME Scorecard online tool has been designed to stimulate companies into thinking about the key areas that may be impacted in their business because of Brexit and to self-assess their level of preparedness. Using the ‘Brexit Scorecard’ online tool micro and smaller businesses can self-diagnose whether they are ready for Brexit. By answering a series of questions online under six key business pillars a comprehensive report is automatically generated which serves as a prompt and discussion document for business owner / managers to consider as part of their planning for Brexit. The report provides companies with a benchmark in terms of their level of preparedness against best practice and signposts them to a range of supports, resources and information available via Local Enterprise Offices.

 

The Brexit SME Scorecard is a starting point to help businesses to begin preparing a strategy and ready their teams in terms of planning and shining a spotlight on some of the key operational areas that may be exposed. 

You can access the Scorecard at www.prepareforbrexit.ie 

Your Local Enterprise Office has a range of supports to help you to address issues and maximise potential opportunities;

 

For further information please contact  045 980 838.

Please see Intertrade Ireland’s website for information – http://www.intertradeireland.com/brexit