Kingston Smith is advising all clients to look at their working capital in the light of Brexit. While many businesses have been able to ‘wing it’ in the past when it comes to cash flow, Brexit uncertainty makes this a high risk strategy. Tighter border restrictions, changing tariffs, potential delays to supplies and currency volatility could all impact costs and lead to exposure.
Some banks have said that extra capital is being set aside for businesses in light of Brexit. But this doesn’t mean we can assume everything is taken care of. This money won’t last forever, so it is wise to liaise closely with your preferred lender.
You can minimise your exposure with a simple review of your working capital. Your Kingston Smith adviser can help with this, ensuring your business remains agile and secure during the Brexit transition.