Preparing Your Business For Brexit

What Brexit may mean for your organisation will differ greatly depending on your business and its model, your sector, your workforce and the business supply chain.

It may well be hard to escape some of the impact that Brexit will bring, but that does not mean that it is over for your business.

By assessing the implications and making the most of the uncertainty, brings with it new opportunities.

The challenge for any business will be to where to look for it.

One suggestion perhaps is that you should consider exploring how to protect and grow the business in these ever-changing economic conditions:

Planning to grow your business will be crucial, given the alternative.

But delivering growth in what will be a nervous climate may involve a re think, and a different overall business strategy.

We at Cahoots believe that there is an urgent need to reassess your business, and you should consider a full audit by way of a detailed Financial Business Risk Assessment.

Cahoots can carry out this audit with you at your business premises. This will show what needs to done to protect the business and build in walls of resilience while capturing new opportunities.

If your Clients/Customers behaviour is likely to alter after Brexit you may not be the only business leader to have noticed.

These opportunities may become increasing competitive so winning could be a matter of getting there first, as well as offering new options and new innovative ideas.

As a small/medium business, the chances are that you will have some involvement with big business during the first year, whether through trade or supply.

With certain large businesses currently debating whether to move operations to the continent, it is worth thinking how this may affect your business.

Supply chains are another vital element to review, as depending on each company’s individual needs and supply chains, these may spread across the EU.

Small/Medium businesses will gain from thinking about how the performance and validity of contracts may be affected by leaving the single market, and whether the possible imposition of taxes and tariffs may make certain deals costly.

This is particularly relevant if the business relies heavily on trade with the EU.

Small/Medium business owners are nothing if hardy and resilient, and while it may seem daunting now, putting in the extra work early will ensure that the business will be in a strong position to capitalise on opportunities when Brexit happens.

We at Cahoots are here to help.