Companies need to start putting Brexit plans in place – Quinlivan
Sinn Féin spokesperson on Enterprise and Innovation Maurice Quinlivan TD has today encouraged businesses and exporters to start putting Brexit plans in place to prepare for the range of outcomes Brexit may have on their enterprises.
Deputy Quinlivan’s comments come against the backdrop of InterTradeIreland’s most recent Quarterly Business Monitor which shows only 2% of businesses and 3% of exporters across Ireland have Brexit plans in place.
Teachta Quinlivan said;
“98% of businesses surveyed by InterTradeIreland up to June of this year have no Brexit plan in place, despite it being one year since Britain voted to leave the EU. This level of unpreparedness has remained unchanged since the Brexit referendum in June 2016.
“Due to the chaotic nature of the Brexit negotiations, business owners, exporters, and even politicians remain none the wiser as to what relationship Britain will have with the EU after March 2019.
“I would encourage businesses to make use of the tools currently offered by InterTradeIreland and Enterprise Ireland to help them create their Brexit plans.
“For example, InterTradeIreland recently launched their Brexit Advisory Service. This is aimed at potential and current cross-border businesses, allowing them to receive one-to-one Brexit advice and apply for financial support of up to £2,000 towards expert advice in relation to specific issues such as movement of labour, goods, services and currency management.
“Also Enterprise Ireland has an SME Brexit Scorecard which can be used by all Irish businesses to provide an overview of potential risk areas and generate suggested actions, information and resources.
“Enterprise Ireland clients can apply for a ‘Be Prepared Grant’ of up to €5,000 to fund further research and the use of external expertise in developing their Brexit plan. This might involve investigating the feasibility of diversifying into new markets and market segments, investment in innovation, improvement in operational competitiveness, and/or enhancement of strategic financial capability.
“I am encouraging not just businesses and exporters directly exposed to Brexit, but also enterprises down the supply chain, to investigate their potential exposure to current range of potential Brexit outcomes and put plans in place now to safeguard jobs and trade.”