It has now been several months since the Britain voted to leave the European Union and left businesses with unanswered questions leading to a dramatic increase in uncertainty. Due to post-Brexit political downturn and further delay in ‘Article 50’ until 2019, majority of SMEsare still not clear about the ramifications on their organisations, they believe it will either open door for success through new trade deals or may decline. They have also reported that their long term business prospects are altered due to EU referendum, mostly in terms of stability.
For most, the memories of global crash in the year 2008 led them to be more conservative and watchful of their management expenses even more closely till the storm settles.The Federation of Small Businesses (FSB) stresses to decision makers of SMEs that it is of utmost importance to improve the ease of doing business following the referendum.Brexit condition and fluctuating market is causing SMEs to rethink and re-assess their management strategy and proactively plan for the future which will help them overcome this sterile business environment.
Seeking expert advice from business advisors and consultants has never been so important. They suggest, with the proper guidance and access to right business system, SMEs can embrace opportunities of a post-Brexit landscape and keep trading, continue serving EU customers, and maintain relationships going and can also expand business to the US and Asia.
Since the large part of the UK economy is reliant on SMEs development, businesses will need to improve their agility with internal processes and procedures being optimised, with time and cost efficiencies sought out wherever possible. An agile ERP System like SAP Business One which is tested against EU safety standards can help you trade through any resulting economic deceleration with added assurance. Access to real-time business critical information and improved cash flow can help back your business over financial implications that Brexit could possibly bring.
And it’s not only going to be UK based SMEs that will have to react to this changing tide but also the European firms in the wake of Brexit.
What Silver Touch Technologies Recommend?
Ask for advice – Business consultants at Silver Touch can help you assess your business’s current business requirements,help you uncover some potential risks that previously you might have been unaware of and plan a contingency strategy to limit your exposure to this ever-changing market.
Plan your next step – Establish all the critical levels of support within your business and in consultation with Silver Touch plan how the implementation should take place. Ensure quick and efficient compliance to new legislation.
Act – Install SAP Business One and smoothly navigate the Brexit turbulence.
Did you know that Silver Touch is featured in top 10 most promising sap consultants?