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Wednesday 19 June 2019

Options available in wake of hard Brexit, seminar is told

Judith Condell
Judith Condell

Wexford business owners are being advised to explore their financial options as the possibility of a hard Brexit moves ever closer.

Speaking at the 'Alternative Funding Options for SMEs' seminar at Wexford Chamber offices, Judith Condell said, 'Brexit might not affect you, but if it is going to affect you it probably already has.'

And Judith, who is a business development manager at Bibby Financial Services Ireland (BFSI), believes there are options for those solely reliant on UK suppliers. 'Sourcing stuff from another EU country is definitely an option. But if you have invoice finance you can use the extra cash to go to your UK provider and ask to buy in bulk because of the fluctuating Sterling. There are things you can do rather than say, "i'm not dealing with the UK anymore", you can change how you work and how you do it.

'Cash flow is essential to any working business and that's what people need to focus on rather than panicking about Brexit,' Judith concluded.

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