Page 19 - Linkline Yearbook 2019

Close Brothers Commercial Finance
The logistics and transport industry is a vital part of the Irish economy, contributing not only in its own right, but also as a link which so many other sectors rely on. However, while demand for reliable travel, connections and haulage continues, political ambiguity is putting increased pressure on companies in this field.
The consequences of Brexit are undoubtedly the principal concern of this time. For the businesses who currently freely transport goods, services and people across the 310-mile border separating Northern and the Republic of Ireland, the UK’s exit from the single market could have a significant impact.
Unfortunately, there are still more questions than answers about how trading will be managed in the future: will a deal be agreed? How will exports be affected when Northern Ireland leaves the customs union? What will happen to the Irish border when it also becomes a border between the UK and the EU?
Ireland is certainly still open for business, but as Brexit commences, Irish firms across the country must prepare for (and embrace) impending changes.
Resilient Irish SMEs
While businesses concentrating on transporting goods and services will unquestionably face some disruption, it is important to remember that with change comes opportunity.
The government have made it clear that the UK will remain a close ally, but that Ireland will take this opportunity to invest in infrastructure and create a more attractive base and trading partner for misplaced businesses. This bodes well for the Irish economy in the future.
Indeed, although uncertainty continues to dominate the narrative around the transition, Irish SMEs remain quietly confident about their prospects. According to the most recent Close Brothers Business Barometer, a quarterly survey of over 900 business owners in the UK and Ireland, over a third of SMEs in Northern and the Republic of Ireland believe that their business will grow in the next twelve months. A further 59 per cent believe that they will continue to perform the same.
Taking advantage of transitional circumstances could bolster these optimistic businesses, with newly arising opportunities helping to future proof and strengthen enterprises already trading in Ireland. To profit from these plans, SMEs should prioritise comprehensive planning and implement a forward- looking financial strategy.
Alternative finance options could therefore be a decisive factor in supporting SME growth, providing a way of increasing working capital in highly pressurised times
Specialist finance for logistics and transport
At Close Brothers, we are ideally positioned to support businesses in Ireland with a range of finance options, even in challenging times. Eleven years ago, Close Brothers Commercial Finance opened its doors in Ireland as the financial crisis began. As securing commercial funding with traditional lenders became more and more difficult, Close Brothers was able to offer practical asset finance, invoice finance and asset based lending solutions.
Today, we appreciate the challenges facing the transport and logistics industry and know that it can be challenging to take advantage of opportunities when most of your working capital is tied up in day-to-day running costs. Our finance options are therefore designed to give you access to working capital without disturbing workflow.
Asset finance, for example, could give you fast access to cash tied up in essential vehicles, such as trucks, coach and buses. We lend you money against the value of your asset and lease it back to you over an agreed period. This gives you immediate access to money that might otherwise be inaccessible, and by end of the agreed refinancing term, you own your assets outright again.
Whether you want to ease cash flow pressures, need capital to purchase new equipment, or are considering growth plans, our funding solutions are designed to allow you to meet your objectives. By fully explaining available options, we can help you to identify the most appropriate funding for your business.
Helping businesses to thrive
In this evolving market environment, Close Brothers Commercial Finance remains committed to the prudent approach to lending which has allowed us to support our customers and help businesses realise growth plans for many years.
As access to funding could become a critical barrier for many ambitious businesses, we are delighted to be working alongside ambitious SMEs across Ireland. Regardless of the wider political outlook, we aim to provide secure cash flow that allows businesses to make practical funding decisions for success.
Our specialist team have extensive experience arranging finance for the transport and logistics industry. We know how important it is to offer local, quick decision making, and can offer a range of products such as hire purchase, refinance and leasing to help your business thrive.
Speak to us today to find out more about our tailored funding packages by calling +353 (0)1699 4127 or visiting www.closecommercialfinance.ie
Adrian Madden - Head of Sales Ireland ( +353 87 1701101)
The Chartered Institute of Logistics & Transport 19
COMMERCIAL FINANCE