Taking Care of Business
Ignore the political drama – Irish SME’s face a major threat from Brexit
Ireland has been proactive in its response to Brexit with initiatives such as the Brexit Loan Scheme provided by the Strategic Banking Corporation of Ireland (SBCI).
Many Irish businesses have some form of a Brexit strategy in place and are eagerly awaiting developments from London.
The same cannot be said of UK based SME’s as the UK government has been somewhat complacent in acknowledging the scale of the threat of a hard Brexit.
Irish companies reliant on selling to or purchasing from UK based SME’s should thread carefully according to John Finn of Treasury Solutions Ltd.
Issues with cash-flow and in particular problems linked to reclaiming VAT after Brexit might also jeopordise the future of Irish SME’s.
John provides some key tips for Irish businesses as the Brexit process continues to weave and turn. The 29th of March 2019 is closer than ever.