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Do you have a Brexit headache?

Brexit headache

If you run a business there’s a good chance that you’ll be exasperated by the way the Brexit process has unfolded. Whether you voted to leave or remain, the one thing we are sure most entrepreneurs agree on is that stability and certainty is better than prevarication and procrastination.

It’s for that reason that we are recommending that clients stick to the things that they can control in their own business. Being brave, creative and agile are the hallmarks of good entrepreneurs but being focused is also a key attribute.

At this stage, Brexit has already been delayed and we still have no idea what our relationship with the European Union will look like – but getting the basics right will stand you in good stead, whatever happens.

Focus

Focus on what you do best as a business. Don’t worry about what everyone else is doing – just stick to what you know you are good at and keep your management team and colleagues around you positive and motivated to keep delivering a good quality service and product.

Cashflow

Cash is king. Businesses that have a clear view of their cash position will be able to respond better to issues out of their control. If a fresh injection of working capital is required, you can predict it well in advance and find sources in good time.

Learn 

If you want to know more about preparing your business for Brexit, you can find this guide published by the UK Government, which offers some guidance. The ICAEW has also produced some excellent guidance here.

Both of these sources will give you ‘food for thought’ and enable you to be equipped with a decent level of knowledge about many of the Brexit factors at play for business owners and employers.

If you want to discuss the impact of Brexit on your business, you can speak to our team on 0161 980 8788.

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General election: a calm and considered reaction

Well it wasn’t supposed to be like this. We were supposed to see a “Conservative landslide” and a clear mandate for a so-called ‘hard Brexit’.

Now the shock of the result is over, it’s worth taking stock and having a look at what the result means for you and your business.

We’ve spoken with many business owners within our own client base since the general election and it’s worth highlighting that they are all, without exception, taking a very stoic and pragmatic approach to it all.

Most say it wasn’t the result they were looking for (or expected) because they wanted to get clarity and stability during the Brexit negotiations.

Some people may be tempted to adopt a more cautious approach to completing deals (buying, selling or merging with other companies) over the next few weeks and months. It is important that entrepreneurs don’t miss out on deals if they are too good to miss.

There’s naturally a concern that the market stagnates in the short-term because confidence is such an important factor for people buying or selling a business. Things will settle down if the Government can secure some quick wins in the Brexit negotiation process.

Business owners wanted stability, certainty and confidence going into the Brexit negotiations and that has clearly not happened here.

The more cautious business owners will be delaying decisions, deals and expansion plans until the path of the Government becomes clear.

It’s important that the voice of business is heard during the Brexit process and the results of this election means that entrepreneurs will have to keep a closer eye on proceedings during the next two years than they had originally planned.

For our clients, we’re paying close attention to developments and we’ll be sharing our insights so you can make informed decisions for you and your business.

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