Local Enterprise Office Kildare Export Success Seminar Kilian Duignan
Export Success Seminar
Export Success Seminar
Export Success Seminar
Export Success Seminar Jan 13 th 2019 Dyson to move company HQ to Singapore CEO says plan is more about ‘future - proofing’ business than anything to do with Brexit
Export Success Seminar Tory MP Jacob Rees -Mogg defends his firm setting up fund in Ireland ahead of possible 'hard Brexit' June 2018
Export Success Seminar
Export Success Seminar Short run (after 2 years) Long run (after 10 years) Deal No Deal Disorderly Deal No Deal Disorderly GDP -0.60 -1.20 -2.40 -2.60 -4.80 -5.00 % deviation from baseline Consumption -0.10 -0.20 -1.00 -2.00 -3.50 -3.70 % deviation from baseline Disposable Income -0.30 -0.60 -1.30 -2.20 -3.90 -4.10 % deviation from baseline Exports -1.00 -2.70 -4.70 -4.60 -8.10 -8.30 % deviation from baseline Investment -0.70 -0.30 -2.00 -4.10 -7.70 -7.80 % deviation from baseline Unemploment 0.01 0.01 0.05 1.00 1.90 2.00 % deviation from baseline
Export Success Seminar
No matter what business you are in , you need to carry out a……. DUNHILL MULTI- EDUCATI ON CNTRE
Risk Assessment • Identify what the risks for your business are or might be • Measure these risks in terms of possible impacts on your business, not just on sales • Identify possible mitigation options • Employ financial scenario planning-stress test • Assess these options – pros, cons, feasibility, costs, limitations, implications • Develop a strategy or multiple strategies • Implement • Monitor and re-evaluate
Ask yourself • What is my exposure to Sterling ? • Do I understand how customs work? • Can I mitigate against tariffs on imports or exports and increased Vat payments? • What are the overhead implications on managing this? • What is my exposure to UK customers or suppliers- can I find alternatives? • What are the legal issues in relation to existing contracts, insurances and standards? • Are you exposed to potential interest rate rises? • What if the country goes into an extended recession?
What does Revenue Say ??? • Working model is an orderly departure followed by a two year transition period • Non-EU Member States are a ‘3rd Country’ for customs purposes Customs regime applies when: • Sending goods to a 3rd Country – export • Bringing goods in from a 3rd Country – import • Moving goods through a 3rd Country – transit • Even if UK stays in a Customs Union, declarations will be required
What does Revenue Say ??? Imports require a customs declaration • May be subject to intervention • May be subject to licencing requirements • Subject to payment of duties & Vat before release of goods Exports require a customs declaration • May be subject to intervention • May be subject to licence requirements • Generally requires a declaration in the 3 rd Country and subject to payment of duties and VAT A deferred payment account can be applied for
What does Revenue Say ??? Moving Goods through a 3 rd Country (Transit) • Allows goods to move from one member state to another via a 3 rd Country while protecting the customs status of the goods • Requires one declaration rather than four • Office of Departure-UK Transit department – Destination • May be subject to intervention • Requires a financial guarantee (Comprehensive Guarantee )
What does Revenue Say ??? For the customs declaration you will need • Consignor EORI • Consignee EORI • Commodity code • Valuation (incl. Delivery terms) • Country of origin cert • Truck registration / Trailer id • Supporting documents Commercial Invoice, Bill of lading/airway bill, Packing list, Veterinary/plant health certificates, Copy of Licence
What should I do right now ? • 2 years transition so don’t panic • Operational Measures: lean manufacturing and office, look up and down the supply chain • Financial Measures: Sterling account, FX management , try create a natural hedge • Innovate without regrets: R&D, new products, diversify • Look for support
Brexit Supports • Enterprise Ireland • Brexit Score Card- € 5k Brexit Voucher • Market Discovery Fund • Strategic Banking Corporation of Ireland • Brexit Loan- € 25k- € 1.5mil, € 500k unsecured, 4% interest • Intertrade Ireland • Brexit Voucher up to € 2.5k 100% funded • Local Enterprise Office • Export Grant up to € 2.5k 50/50 • Specialist Mentoring • Export Essentials workshop 9 th May
Export Essentials Workshop 9 th May • Examine your own business strengths and what you need to do to export profitably • How exporting will affect my current business- cost, investment, risk and potential rewards • Hear from a company that has been through this process and avoid some of the pitfalls • Learn how to assess what you should sell and where you should sell it • Develop an export checklist to get the process started • Understand what supports are available to new exporters • Get on the road to building your export success
Local Enterprise Office Kildare Export Success Thank you • Kilian Duignan • 053/9170013 • 087/6950382 • Kilian@gatewayconsulting.ie DUNHILL MULTI- EDUCATI ON CNTRE
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