SME’s and Brexit – What to do?

It’s the word on the lips of SME’s (even after 2 years) …Brexit.

 

Aside from people of the UK being into constant confusion and worry, we’re hearing more and more about the difficulties that British businesses are going to be facing due to new Brexit regulations. Yahoo Finance reported that Brexit’s influencer has seen the number of businesses drop for the first time since 2010.

It’s been well documented that SME’s are the backbone of the UK economy, with the conversation reporting that of the 5.7m SME’s in the UK account for over 99% of private sector forms and 60% of UK private sector employment.

There has been increased pressure for the government to make sure that businesses are protected and don’t see them suffer.


What’s the good news for Welsh Businesses?

The good news is that the worries are being listened too and being acted upon.

The welsh government has been very clear in its approach to keep businesses in the know and up to date with relevant information. Last week, Business Wales launched a portal dedicated to Brexit issues for businesses in Wales – with clear sections outlining changes in business, innovation, sales, export, people and finance.

This week we have seen a huge boost from the Welsh Government after they have announced the launch of a £1million Brexit Resilience Fund, set up to help businesses adapt to situations in a post-Brexit Welsh economy.

The Brexit Resilience Fund aims to:

  • Develop capacity
  • Improve processes
  • Retain competitiveness
  • Safeguard jobs
  • Guarantee the trade flows between Wales and the rest of the world

 

Business Wales is offering eligible businesses the opportunity to apply for funding of between £10,000 and £100,000 up to 50% of project costs.

 

What can you do to help your business?

As an IT services provider, we are always championing our clients to embrace and respond to new technology. Just like software being updated, hardware needs to be improved to provide maximum security against cyber threats. The ‘improve processes’ category of the fund can be used for exactly this.

Our advice is simple, take advantage of this.

Make sure projects in progress are signed off, and those upcoming ones are pushed forward. SME’s will remain in a state of limbo until Brexit fully takes shape.

If you cannot improve your technology to keep up with the latest security offerings, then your information and data could be at risk. Improve your processes, and make sure your business remains protected after Brexit begins.

If you’re looking to learn more about how your IT systems can be protected. Get in contact with us on 02920 887 362 or send us an email at info@excellence-it.co.uk

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