Navigating Brexit

Navigating Brexit front page logo

In an ever changing and increasingly challenging marketplace, competitive strategy and innovation are integral to business growth and success.

Analyse your exposure to Brexit and mitigate business-specific risk with our range of tailored supports and Brexit-experienced mentors.

Areas of potential impact for your business:

  • UK Market Dynamics - possible market contraction; buy British campaigns
  • Currency - impact on profits; delayed decision making due to uncertainty
  • Customers - impact on customers leading to challenges and opportunities
  • Competition - expect new and increased competition
  • Sourcing - impact on cost, certainty and quality; dependence on UK distributors
  • Transport & Logistics - established transport routes may no longer be optimal
  • Regulations & Standards - may change for exporting to and importing from UK
  • Customs, Tariffs & Taxation - may see an increase in administration, cost and time
  • Movement of People - possible restrictions

Scorecard

STEP 1: Self-diagnose whether your business is ready for Brexit

Answer a series of questions about your business. Completion of the Scorecard provides a comprehensive report and benchmark in terms of the level of preparedness against best practice and signposts a range of supports, resources and information available.

The brexit SME Scorecard provides a starting point to help businesses begin preparing a strategy and ready their teams in terms of panning and shining a spotlight on some of the key operational areas that may be exposed. 

Download Scorecard information here and then complete the scorecard at: www.prepareforbrexit.ie 

Brexit Advisory Sessions

STEP 2: Brexit mentoring specific to your business to help plan and prepare for Brexit

As part of the Brexit Mentoring Programme we are offering one-to-one Brexit Advisory sessions with expert business consultants. The sessions will provide practical and strategic advice and guidance on planning for the impact Brexit might have on your business. 

All applications for the Brexit specific mentoring must be preceded by the business completing the Brexit SME Scorecard to assess the key needs of the business to determine the most essential mentoring objectives.

Download further information here and submit your completed Scorecard allong with your completed mentoring application to eilin.connolly@leo.monaghancoco.ie

Lean for Micro

STEP 3: Adopt LEAN business principles to increase performance and competitiveness

Applying LEAN principles to you business will help to build resilience so that you are better positioned to cope with the challenges and opportunities of Brexit.

Under the programme companies can avail of 5 days consultancy from an Enterprise Ireland approved LEAN consultant who will work with the company to introduce LEAN principles, undertake a specific cost reduction project and assist the business in benchmarking performance.

Download further information here or you can visit the LEAN section of our website here

Co-Innovate

STEP 4: Co-Innovate Programme, Nurturing Ideas - Growing Success

Co-Innovate targets SMEs in the manufacturing and tradable services sectors, to lead innovation and opportunities for growth in your business.

The Co-Innovate programme is a cross border research and innovation (R&I) initiative funded under European INTERREG VA Programme. The programme brings together key development agencies to deliver a programme aligned with each government's strategic priorities. 

More information of the programme can be downloaded here.

Networks

STEP 5: Engage with other businesses to share ideas and information

Business networks such as Enterprise Europe Network give businesses the opportunity to meet, discuss ideas and share information. 

The Enterprise Europe Network is the worlds largest network for small and medium sized enterprises with international ambitions. The EEN assists companies to make the most of business and technology opportunities in the EU and other major global markets. 

Download further information on EEN here or if you would like more information on business networks click here. 

Brexit - TAME

STEP 6: Grant supporting businesses to explore an develop new export market opportunities

This scheme is a matched funding opportunity with up to €2,500 available to eligible businesses. Under the scheme costs incurred when investigating, researching and accessing export markets can be part funded.

Further information of the scheme is available here and for a step-by-step guide to exporting click here.

Trading Online Voucher

STEP 7: Enhance your online presence and digital strategy

Supporting small businesses to trade online and boost their sales, the trading online voucher offers a grant of 50% of the cost of updating your website up to €2500.

Download further information here and find out how to apply here.

Microfinance

STEP 8: Microfinance Ireland offers loan funding up to €25,000

Local Enterprise Office Monaghan will work with you to apply for loans which can be used to fund start-up costs, working capital, purchase of stock, machinery, vehicles, business expansion etc.

Microfinance Ireland are there to support small businesses who may be having difficulty in accessing finance for either working capital or business expansion from banks and other commercial lending providers.

Download more information here or visit www.microfinanceireland.ie.

Training

STEP 9: Early planning and preparation is a critical factor in a company's ability to respond to the business challenges that Brexit presents

Upcoming Brexit-specific training includes:

  • Brexit Information Events
  • One-to-one business consultations
  • Customs Workshops

Further information on these events and booking links are available here.

Alternatively, the full Navigating Brexit Guide is available here.

 

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