June 22nd, 2017
Uncertainty following the BREXIT decision remains and this is unlikely to change quickly as the Prime Minister considers the date to invoke Article 50.
We are in a period of limbo but as business owners we cannot operate in a vacuum and play a waiting game. So as ever, SMEs in Northern Ireland are just ‘getting on with it.’
Having listened to Michael O’Leary of Ryanair give his own post BREXIT view, in his direct, colourful and inimitable fashion at the CBI Annual Lunch this week, I can’t help but agree with him. The worse may well be yet to come and his passionate call for the respective governments to maintain an open sky policy and free borders to enable travel to and from Europe both for tourists and workers alike, is well made.
Business owners in NI have very real concerns for their futures but there are pressing issues beyond even BREXIT including:
These examples are fundamental issues that SMEs have been encountering for some time and they should not be ignored. But there are other more pressing considerations for the business owner on a daily basis and statistically the key one remains: Funding – working capital or cash flow.
One of the main concerns of SME owners is late/slow payment by debtors and funding the gap that this creates. It has become a bad habit for many business owners to allow customers to take extended credit and many forego a robust collection process to get the next sale, which then just becomes a vicious circle of costly behaviour.
As a business owner, you need to be able to concentrate on winning business and fulfilling orders – not on worrying when your customers are going to pay and what to do if they don’t.
Upstream is the only truly independent working capital provider in Northern Ireland and as a privately owned SME ourselves, we really do understand that sometimes we all need that helping hand to get us over the finishing line.
Let us help you today. Email firstname.lastname@example.org or call us on 028 9099 9450.
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