SMEs should also prepare for the opportunities presented by Brexit

It is as important for businesses to prepare for the upside of Brexit as it is for them to prepare for the challenges.

An article published in the Daily Express [Monday, 25 June 2018] says that whilst many are focussed on the risks and uncertainty presented by the UK exiting the European Union, businesses must also be pragmatic and look to the upside and the opportunities the changes may present.

Liquid and efficient capital markets, common law, a competitive tax regime and a top-five market for innovation, disruption and technology are just some of the strengths already in place.

“Brexit offers the chance to reshape how and where we generate our national wealth,” the article reads. SMEs should see Brexit as a chance to “unleash their entrepreneurial spirit, to open up new export opportunities or realise a competitive advantage on their global competitors,” adding that opportunities to forge deeper partnerships in Asia and the Pacific and “the ability to set our own regulations […] can act as a springboard for the UK’s innovators.”

What is essential, however, is that businesses prepare now for both the impending short term risks, as well as for the opportunities, thereby giving themselves every chance of success in the post Brexit environment.

For information about how we can assist by putting processes in place to prepare your business for Brexit, contact Steve Govey or your usual Beavis Morgan Partner. Our SME experts at Beavis Morgan are available to structure your business with cashflow and profit forecasting to measure performance and maximise opportunities. We work to a pre-determined plan, to help you avoid any nasty surprises.