Preparing for Brexit
Posted by Michelle Cowley-Cunningham on 4th March 2019
These are uncertain times for Irish SMEs. After more than two years of endless debate and constant media coverage, it seems we’re still no closer to knowing how Brexit will eventually pan out. Whatever the outcome, though, the impacts will be wide-ranging and now is the time for Irish businesses to prepare…
With March 29th looming large, a hard Brexit could be on the cards. Even if the UK avoids the cliff-edge this month and Article 50 is extended, it’s time to take steps to protect your business from any potential shocks that lie ahead.
Our advice is simple, don’t wait until your cash flow is depleted before applying for credit. It’s easier to secure business finance when bank statements are healthy and commercial performance is strong.
An increase in working capital now could go a long way to insulating your business from any adverse trading conditions that decisions in Westminster might bring.
Help is at hand
Thankfully, we are now seeing a range government and EU supports coming on stream to help the Irish businesses who are most likely to be adversely impacted by Brexit.
These are welcome and will be of significant help to some Irish businesses.
Unfortunately, they come with a long list of qualifying criteria and require significant documentation. In many cases, you will need to provide an up-to-date business plan, or prove that a set proportion of your business turnover is a result of export to, or import from, the UK.
Many Irish SMEs won’t tick all of the boxes and will need another option.
Open to all
Thankfully, Linked Finance is here and open to all. We can provide business loans of up to €300,000 in just 24 hours.
Whether you stand to be directly impacted by Brexit or not, we can help. Here are some of the reasons that thousands of ambitious Irish business owners are choosing Linked Finance when they need to access credit:
- Easy online applications.
- Quick credit decisions.
- Dedicated account managers.
- No early repayment penalties or hidden fees.
- Fast access to funds.
Linked Finance is Ireland’s leading P2P lending platform and we are on a mission to revolutionise the way business loans work for all Irish SMEs, not just those who might be impacted by Brexit.
“We emailed Linked Finance the last of our bank statements and other docs at 4:27pm on a Wednesday. By 7:36pm on the same day, the funding was ready for draw down. We had high hopes for Linked Finance but this surpassed all our expectations.”
Talk to our business lending team today about how you can access the finance needed to overcome any obstacle or seize any opportunity.
Rising to the Challenge
Despite the uncertainty about Brexit, one thing is for sure. Irish business owners will rise to the challenge. They will continue growing their companies, creating jobs and driving our economy forward. And Linked Finance will be here to help…
If you’re planning to increase working capital in preparation for Brexit or if you’ve got plans to take your business to the next level, give us a call today on 01 906 0300 or apply now online.