How we are helping
clients prepare for
No Deal Brexit
W
e all have our own views
on Brexit, an ongoing
debacle which continues to
dominate the media and
conversations with family,
friends and colleagues.
However, the fact is that whether
you voted to remain or leave on
23rd June 2016, there is a very
serious possibility that Prime
Minister Boris Johnson will lead
the UK into a leave with no deal
position on 31st October.
What business owners, senior
leaders, decision makers and the
general public need is a level
playing field so that they can make
informed and long-term strategic
decisions.
All they currently have is uncertainty
and the prospect of no deal merely
adds to the tension.
Haines Watts Worcester has seen
examples where clients have
halted investments and delayed
decisions related to big capital
spend because ‘they just don’t
know what tomorrow looks like’.
Whilst we maintain that the world
will continue to turn whether
Brexit goes ahead or not, we do
need to prepare for the likelihood
of a no deal situation.
We have been talking to a number
of clients to help them prepare for
this event and although the answer
to many of their queries is not yet
known, there are some simple
housekeeping steps that all UK
businesses can take to help reduce
the impact of leaving the EU
without a deal.
• Monitor cashflow and funding
arrangements, particularly if
they are EU based or dependent
or pegged to currency markets;
• Investigate the prospect of
reducing cash tied up in debtors
by reviewing credit control
procedures and ensuring strict
adherence to credit control
policies. This is particularly
important as many businesses
have invested in additional
stock over the last few months
to counter any no deal supply
issues;
• Review, cement and protect
your supply chain. If you can
review agreements now,
evaluate alternatives and keep
a dialogue open with your
suppliers. Remember, even if
they are based in the EU they
will still want to sell to you as
you help to create their profits;
• Be proactive. Plan and review
your plans and look for oppor-
tunities to reduce exposure
and risk.
If you would like straightforward
advice on planning for a no deal
Brexit, contact our experienced
team on the details below.
Worcester
tel: 01905 612347
email: worcester@hwca.com
Evesham
tel: 01386 579999
email evesham@hwca.com
Tewkesbury
tel: 01684 290123
email tewkesbury@hwca.com
www.hwca.com/accountants-worcester
We help business owners to
BUILD A MORE VALUABLE BUSINESS
Short to medium-term growth and profitability is essential, but do they ensure you
maximise the long-term value of your business?
Haines Watts can help you look at your business in a different way and support you in building value.
To find out more contact Haines Watts, your local award winning accountants
Suite 1A, Shire Business Park, Wainwright Rd, Worcester, WR4 9FA - 01905 612347 worcester@hwca.com
Vale Business Centre, 9 Abbey Lane Court, Evesham, WR11 4BY - 01386 579999 evesham@hwca.com
www.hwca.com
The Grapevine
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