Businesses are facing a very difficult time with the implications of Brexit looming on the horizon. Whether for small businesses or larger ones, the changes will inevitably cause huge disruptions in so many different sectors. When it comes to importing goods, businesses will suddenly be faced with border controls, tariffs and therefore with a slowing down of their production, in addition to further higher costs involved. Of-course this is only one aspect that will prevent businesses from growing and our collective economy prospering as a result.
“Uncertainty” is a term we hear all the time now. The government is not able to provide any insight into what we will have to deal with in the next few years and it is leaving everyone guessing. Experts provide their predictions, usually based on their personal preferences of leaving or remaining in the EU.
Whatever the outcome of the Brexit negotiations will be, businesses will need time to adjust. Even if the arrangements are clear within the next months, businesses must be given a chance to function within the new regulations and see what sort of adjustments they will have to make.
Surely it is in everyone’s interest to cause minimal damage and support our businesses with smooth transitions, as much as possible. We also believe that some sense of support and positive actions towards small and medium sized businesses would do so much to encourage the morale of the brilliant entrepreneurship in this country.
We at Akoni are not only in the business of supporting SMEs in maximising their cash returns but, we are a business in our own right that may be effected by cross border financial and business regulations in the future.