Brexit impact
Most of us by now are tired of the constant what ifs, buts and maybes around the Brexit deal (or lack there of!). In reality there is no greater clarity now than 18 months ago. With March around the corner many clients are concerned about what steps to take, how much time and resources to put into what-ifs, and how to plan for the unknown?
At a minimum it is advised that you should look at the following:
1. Strategic Planning with Enterprise Ireland
Very proactive in this space with a huge amount of advice available to various industry types. At their site www.prepareforbrexit.ie there is a useful scorecard for any business to cross check their current action plans for preparing for Brexit. This tool will highlight areas of weakness in your current strategic plan and assist in highlighting any gaps.
Furthermore Enterprise Ireland are running numerous Brexit Advisory Clinics across the country with mentors available to support business owners in planning for March. These mentors are funded through the “Be Prepared Grant” – check if your company is eligible at https://www.enterprise-ireland.com/en/funding-supports/
2. Currency Exposure and The Treasury Hub
The currency exposure is a key issue for companies operating cross borders and, with high sterling swings the treasury function has never been more important, especially for those working with tight margins. McInerney Saunders work actively with Treasury Solutions to ensure our clients have the most up to date information for optimal treasury management. 1% can make all the difference – can you afford not to hedge?
3. Take time to see the opportunities
Change always creates opportunities – it always has and always will. Take time to sit back and see what positives there could be in the changing market place. What is the impact of Brexit on a UK firm like yours and can you assist them? Are there synergies/ joint venture opportunities with them?
If you need any help preparing please contact nburke@mcinerneysaunders.ie