Worried about Brexit? We’ve got you covered

<p>Resources to help your business through the Brexit worry…</p><p>by <a href="https://www.linkedin.com/in/grahamcarrick/">Graham Carrick</a> (COO of <a href="https://www.linkedin.com/company/assurehedge/">Assure Hedge</a> &amp; writer)</p><figure><img alt="" src="https://cdn-images-1.medium.com/max/1024/1*DCy2uHQ-2zM6o6iAElgVhA.png" /><figcaption>Are companies being left in the lurch by the Brexit cliff?</figcaption></figure><p>Even the word “Brexit” can send shivers down your spine or make your face melt with total and utter boredom as well as instil mindless confusion on even the smartest of businessman or woman.</p><p>Believe it or not, there are tonnes and tonnes of resources out there to help you and your business navigate through the Brexit Mayhem. Rather than you having to sift through the countless articles from the likes of the FSB and other government-related bodies, we’ve put together all the top resources here in one place, which you can check out below.</p><p>I’ve also dug out some stats outlining why Brexit is such a big deal for UK and Irish companies in particular.</p><p>First things first — Are you and your business prepared for Brexit? Do you need support and guidance? If so, help is at hand.</p><p>As the UK prepares to depart from the EU, Irish SMEs, in particular, are unfortunately the most highly exposed out of any EU country by far to the effects of Brexit, and with the help of multiple resources now must really begin to prepare for the consequences and the effects it will have on businesses.</p><p>The difficulty is that Irish businesses need to understand and manage the risks of Brexit to their businesses, while also making sure they have access to finance (a tough ask in a credit-strapped market).</p><p>Quite a notable statement:</p><blockquote>The Irish economy would decline by about 3% over that period of time as well, unemployment being about 2% higher. Also, we could see 40,000 job losses in Ireland — (Dr. Declan Jordan, a leading economist in Ireland)</blockquote><p><strong>What is the big deal exactly?</strong></p><p>Ireland’s exposure to the UK market is simply put, enormous. In the year of the Brexit vote, a whopping 8,600+ businesses exported goods from the Republic, with nearly 80 per cent exporting to the UK.</p><p>A very hard trust is that the UK accounts for 14% of Irish goods exports and 20% of Irish services exports, the highest share of any European country and double the exposure of the EU average. Here lies the problem for the Irish!</p><p>Additionally, nearly 3,400 Irish exporting businesses traded exclusively with the UK in 2016, according to the <a href="https://www.irishtimes.com/topics/topics-7.1213540?article=true&amp;tag_organisation=Central+Statistics+Office">Central Statistics Office</a> (CSO). Does this point to an over-reliance? It certainly points to the reason why the Irish government is taking such a hard stand with the negotiations!</p><h3>So what tools can help?</h3><p>The tools below will help you prepare for, and manage, risks.</p><p><strong><em>Cash flow planner</em></strong></p><p>Make sure your business has enough cash flow in the next few years. Use this free <a href="https://www.thinkbusiness.ie/articles/cashflow-template/">cash flow template</a> to prepare for any market changes.</p><p><strong><em>Sensitivity analysis template</em></strong></p><p>This brilliant tool allows you to show the possible impacts that market changes will have on your business plan and your cash flow. It’s<a href="https://www.thinkbusiness.ie/articles/how-irish-businesses-can-prepare-for-brexit/"> free to download</a> and is an essential tool to help you deal with Brexit.</p><p><strong><em>A sales forecast template</em></strong></p><p>Another <a href="https://www.thinkbusiness.ie/articles/a-sales-forecast-template-impact-of-price-changes/">great tool</a> that will help you prepare for Brexit is this sales forecast template. Remember, it’s best to prepare for change. Please don’t wait to react to it.</p><p><strong><em>A brilliant business plan template</em></strong></p><p>It is always a good idea to revisit your business plan and prepare a new one in light of Brexit. This <a href="https://www.thinkbusiness.ie/articles/business-plan-template/">excellent template</a> is free to download and use.</p><p><strong><em>The Brexit Loan Scheme</em></strong></p><p>This is a €300 million loan fund made available to eligible firms in Ireland as they face into Brexit. The money will be lent at a fixed rate of 4%, the most affordable rate on the market. <a href="https://businessbanking.bankofireland.com/credit/business-loans/sbci-brexit-loan-scheme/how-to-apply/">Apply now.</a></p><p><em>A Related Resource</em></p><p><a href="https://corporate.bankofireland.com/brexit/"><strong><em>Prepare for Brexit</em></strong></a></p><p>This is Bank of Ireland’s <a href="https://corporate.bankofireland.com/brexit/">Brexit centre</a> where you will find excellent advice and business tools from market specialists.</p><p>As a business, Assure Hedge’s aim is to help SME’s in both Britain and Ireland navigate safely through all of the Brexit noise and chaos by helping your business remove any risk associated with the Pound swinging in value versus the Euro and the USD, causing massive uncertainty, and wiping out your profit margins.</p><p>We have recently launched a new Brexit specific initiative that you can check out at <a href="https://brexitprotection.com/">https://brexitprotection.com/</a></p><img src="https://medium.com/_/stat?event=post.clientViewed&amp;referrerSource=full_rss&amp;postId=6694c28e1244" width="1" height="1" alt="" /><hr><p><a href="https://blog.assurehedge.com/worried-about-brexit-weve-got-you-covered-6694c28e1244">Worried about Brexit? We’ve got you covered</a> was originally published in <a href="https://blog.assurehedge.com">Assure Hedge</a> on Medium, where people are continuing the conversation by highlighting and responding to this story.</p>