BREXIT – SMEs have you availed of all the Brexit supports?
Brexit has not gone away
Although Covid 19 dominates our news headlines many companies continue to be affected by Brexit. For some companies it offers opportunities and for others there continues to be challenges.
SMEs with Opportunities
SMEs are being presented with excellent opportunities as UK SMEs withdraw from Europe, now is the time for businesses to explore new markets and to diversify. Enterprise Ireland and InterTradeIreland offer excellent supports to help companies research new markets, innovate, and bring new products to new customers. Last week we discussed in detail the supports available to SMEs.
SMEs with Challenges
For those companies continuing to face challenges there are a suite of supports available.
Financial Supports
There are financial supports available from Enterprise Ireland and InterTradeIreland for SME’s
Ready for customs grants – a grant of up to €9,000 is available per employee who is required to work in customs clearance.
Post-Brexit Advisory Support – at no cost to the company. A consultant will help you with strategic sourcing, customs, and logistics.
Evolve Strategic Planning Grant – this can be used by companies to assess how the new trading regulations impact them in the UK and what opportunities they can create from the situation. Details can be found in our blog on grants available to SMEs
Brexit Planning voucher – worth €2,250 covering the cost of obtaining professional advice regarding Brexit.
Brexit Implementation voucher – worth €5,625 covering 50% of the cost of implementing changes to your business because of Brexit.
For clients of BIM there is significant funding available – see BIM - Brexit Business Planning Support Scheme
Funding
The SBCI Brexit Loan Scheme – offers loans of between €25k and €1.5m with a rate of 4% p.a. The first €500k can be unsecured. The loan must be used to finance future working capital requirements or innovation, change or adaptation of your business to mitigate Brexit.
The Future Growth Loan Scheme – offers loans of between €25k and €3m at a rate of between 3.5% and 4.5%. Loans up to €500k are unsecured. There are only two lenders still offering these loans and they are KBC and Close Brothers
The Microfinance Ireland Brexit Business Loan provides up to €25,000 to business who have been negatively impacted by Brexit.
Training & Upskilling
There are a range of training resources and courses which continues to be offered by Skillnet, IntertradeIreland and Enterprise Ireland. For food and drink companies Bord Bia have a wide range of webinars and resources available on their website.
Contact Us
For further guidance on how to avail of all the supports your business is eligible for, contact us at info@walshemanagementconsultants.ie