The Brexit Impact
After much speculation and pondering, the UK has voted to leave the EU.
The ‘remain’ campaign rallied voters by advocating on the primary issues of “more jobs, lower prices and worker’s rights” (www.strongerin.co.uk). While the ‘leave’ campaign rallied voters by advocating on the principal issues of “decide our own laws, control our borders, the money we’d save and our own global trade deals” (www.leave.eu).
Whether or not the ‘leave’ movement will realise the promises they made on these issues is yet to be seen. There will be serious negotiation and legislative changes required before the tangible results of the ‘leave’ decision are properly felt.
One immediate and tangible result of Brexit was the drop in the value of Sterling against the Euro. This is, in addition, with the distinct possibility of the UK entering into recession.
But what, if any, is the possible impact of Brexit on debt recovery in Ireland?
The UK is one of Ireland’s main trade partners both in terms of import and export. Any reduction in trade between the UK and Ireland would have a negative impact on Irish business in terms of decreased revenue. Deceased revenue may result in difficulties recovering debts on time or recovering debts at all.
If your business is having difficulty recovering their debts then take action and contact Sarah Walsh on 01-6499900 to see how your business can benefit from our experience.