Sample 1 - Blog #post-BrexitSample 1 - Blog #post-Brexithttps://lololol.zohosites.com/thoughts/tag/post-BrexitFri, 02 Aug 2024 23:06:14 -0700http://zoho.com/sites/<![CDATA[Preparing for the Impact of Brexit on your Workforce]]>https://lololol.zohosites.com/thoughts/post/Preparing-for-the-Impact-of-Brexit-on-your-Workforce
While the general discussion of Brexit has died down, to some degree, employers of EEA Nationals must continue stay tuned and engage with the challenges ahead. Following Brexit, there will be a transition period until 31 December 2020, during which EEA nationals will still be able to come and work in the UK.
It is advisable for employers to make sure that all their EEA workers obtain settled or pre-settled status, to enable them to stay at the end of the transition period. The current position is that EEA nationals who are resident in the UK by 31 December 2020 have until 30 June 2021 to make an application. Further to that it is essential that employers fully understand their obligations in relation to employees on international assignments and international commuters in relation to qualification for settled status.


Employers must also prepare for the new immigration system that will be in place after the transition period. The Migration Advisory Commission is expected to report further, having considered options for a new points-based system.


If they have not already done so, employers should carry out an audit of their workforce and consider where there may be staffing issues, should they currently rely on EEA nationals for certain roles. It is essential that employers ensure that the seek corporate immigration advice and assistance in relation to how to carry out this audit to ensure they are protecting themselves from breaching immigration rules as well as protecting themselves from the risk of employment related disputes.  They should look for potential skills gaps and consider the impact of the new immigration system.

Moving forward, some employers may need to obtain a sponsor licence to recruit the staff they need from abroad. To avoid causing any disruption, especially for key/senior roles, the sooner an employer can get ahead of the process, the better.


Credits: Paida Dube, Employment Solicitor  - DavidsonMorris

We aim to deliver much needed capital for SME’s and Property Developers.

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]]>Wed, 12 Feb 2020 07:32:10 -0800<![CDATA[Why do so many SMEs want to reverse the Brexit process?]]>https://lololol.zohosites.com/thoughts/post/Why-do-so-many-SMEs-want-to-reverse-the-Brexit-process

As Brexit continues to loom large on the horizon and many businesses are faced with doubts about the implications of it, 61% of UK SMEs are keen to reverse the process. 

A survey conducted by Citibase, a company specializing in flexible office solutions for entrepreneurial professionals, has revealed that of 1,059 SMEs asked, 49% are delaying investment decisions until a decision has been reached regarding the UK’s exit from the EU. 


These figures come as a surprise, especially given the fact that 78% of SMEs have seen their revenues either increase or stay the same since the vote to leave the UK was finalized. 


Common concerns for SMEs across the UK include the weakening pound, as well as the implication of Britain leaving the Single Market, resulting in difficulties surrounding free trade and exporting. 


Brexit continues to concern many small businesses across the UK and another issue for SMEs is how they can go about retaining EU workers within their companies. 


The skills shortage is something affecting many SMEs in the UK and the problem is only being made worse by the fact that many EU residents are leaving the UK amid fears about their rights post-Brexit. 


According to the Federation of Small Businesses, around 21% of SMEs employ EU citizens, suggesting a fairly significant amount of companies are set to be affected by the amount that are choosing to leave the UK. 


37% of SMEs are also having difficulties when it comes to both raising finance and attracting investment, things that capital funding company GIC Capital can certainly help with. 


With a personal approach to financing, GIC Capital has connections with a plethora of substantial privately owned investment companies and can offer its customers a variety of services including business loans, overdrafts and expansion capital. 


For more information about GIC Capital visit their website at: https://www.giccapital.co.uk/ 

We aim to deliver much needed capital to start-ups and SMEs

Call Now +44 (0) 203 2909019

]]>Wed, 22 Aug 2018 22:45:00 -0800<![CDATA[Why and how to prepare your finances for the implications of Brexit]]>https://lololol.zohosites.com/thoughts/post/Why-and-how-to-prepare-your-finances-for-the-implications-of-Brexit


While there is still uncertainty surrounding whether we will have a hard or soft Brexit, it is important that SMEs prepare whatever the outcome is in 2019.

It’s impossible to know what the best course of action to take is because the overall decision is still unknown, but making small changes can help SMEs to stay prepared. Read on to find out more.


Consider a hedge fund

The sterling has already dropped in value, something that many businesses are feeling the effects of. While it has been beneficial for exporters, it has meant an increase in costs for importers. As Brexit negotiations continue, exchange rates could fluctuate even more and businesses will need to come up with ways that they can manage this risk. Hedging products that are considered complicated by traders is one resolution, as is creating a foreign currency bank account, which should help to manage the risk of changeable exchange rates.


Negotiate with suppliers for flexible contracts

If your SME works with suppliers on the continent, it may be beneficial to you to think about negotiating more flexible contracts with them before you make any decisions. If you don’t do this, you may find your business in a less than desirable financial situation if currency movements shift in the wrong way. Tariffs and custom duties might also be applied, which could mean you’d have to fork out even more money. 


Reconsider grant funding strategies

There is still a lot of uncertainty with regards to the continuation of EU grant funding, however, advice from Government is that businesses should continue to apply for these until more is known about how these types of grants will operate in the future. In the meantime, organisations can assess whether UK grants are available and can monitor how these develop. For SMEs it is also worth looking for new domestic opportunities that might arise post- Brexit. 

Unfortunately, it is still impossible to know what the future holds for SMEs regarding Brexit. Some are concerned about the implications while others are not. Either way, preparing for the worst-case scenario will help businesses to identify strengths and weaknesses of their current business operations.

If your SME is looking for expansion funding, or overdrafts, find out about the finance options that we have available here. 

We aim to deliver much needed capital to start-ups and SMEs

Call Now +44 (0) 203 2909019

]]>Mon, 12 Mar 2018 23:13:00 -0800<![CDATA[How could Brexit affect funding for SMEs?]]>https://lololol.zohosites.com/thoughts/post/How-could-Brexit-affect-funding-for-SMEs



The current climate of financial uncertainty makes this a tricky time for small businesses seeking funding. Brexit has left many in the business and finance worlds scratching their heads as to how SMEs will continue to find sources of funding in a post-Brexit world, particularly in the event of the so-called ‘hard Brexit’, in which the UK could receive a raw deal during EU
negotiations. Let’s look at some of the key ways Brexit could impact SME funding.


Limited Access to European Funding

One of the key principles of the European Union is its belief in free movement; not only the much-discussed free movement of people, but of financial capital. Whilst many SMEs rely on local sources of funding via banks, building societies or other national outlets, others have been able to rely on the rest of Europe as a means of securing the finance they need to function. The European Investment Bank (EIB) accounts for billions of pounds in EU investment, and on leaving the union, the UK’s access to this fund will be difficult or downright impossible. In addition, the UK will be leaving the EU before the introduction of the Capital Markets Union (CMU), proposed to make it easier for companies to access funding across national and international borders.


Greater Costs for EU Exports

Most SMEs export to the EU, even if some of this export activity is limited in scope by the constraints of smaller companies. However research suggests that Brexit will lead to greater costs for UK SMEs when trading across national lines within EU borders. On exit from the European Union, the United Kingdom could cease to benefit from EU directives such as the late payment directive, making the financial burden of running a company in a post-Brexit world much heftier for more modest enterprises.


The Financial Risk of Uncertainty

The most troubling of all the factors currently facing SME businesses post-Brexit is the sheer uncertainty. When financial institutions – both foreign and domestic – are unable to plan, they become far more reticent to lend money and provide financial solutions to growing companies. It will take some time for us to see the full effect of Brexit upon companies of all sizes, but most available data suggests small businesses are going to be the hardest hit, emphasising the need for small business owners to make smart choices in the years ahead.

We aim to deliver much needed capital to start-ups and SMEs

Call Now +44 (0) 203 2909019

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