The financial district in London. Image: lenovo2013/Shutterstock
Irish companies have many concerns about the potential impact of Brexit, and Enterprise Ireland wants to help.
According to Enterprise Ireland, customs and logistics is the single largest Brexit worry for Irish businesses.
A survey taken at its June Brexit Advisory Clinic found that 49pc of respondents ranked customs and logistics as their biggest concern. Financial and currency management came in second at 19pc and market diversification rounded out the top three at 13pc.
Developing a Brexit strategy
As part of its response, Enterprise Ireland is engaging with client companies to help address their worries. The Be Prepared Grant offers clients up to €5,000 to assist in the cost of developing a response strategy.
Managing director of ADT Software, Andrew Tobin, praised the grant: “We found the Be Prepared Grant invaluable as it allowed us to explore the ideal business strategy to combat the effects of cheaper competition from the UK.”
Managing business anxiety
Brexit unit manager at Enterprise Ireland, Jonathan McMillan, said the organisation is helping Irish companies manage their mitigation plans and prepare for the challenges ahead.
He said: “The uncertainty around outcomes of the Brexit negotiations continues, so it is imperative that companies take the necessary steps to reduce risk and ensure they are more innovative and competitive, and to diversify into new markets, to steer through the challenges ahead.
“We offer practical advice and support at our Brexit Advisory Clinics, access to independent expert consultants, online training and webinars, as well as financial aid for Brexit planning and training purposes through supports such as the Be Prepared Grant.”
More Brexit Advisory Clinics from Enterprise Ireland are taking place across the country. Galway will play host on 2 October, while businesses in Dundalk can take part on 22 October. The following month, firms in Waterford will benefit on 8 November with the clinic rolling into Limerick on 21 November.
CEO of Kerry Flyer, Nicola Lawless, said: “The knowledge we gained at the clinic enabled us to take some immediate action to prepare for Brexit. This included working more closely with our critical suppliers, as well as sourcing European components directly from Europe.
“These actions will make us more efficient by streamlining our sourcing arrangements and reducing costs.”
The financial district in London. Image: lenovo2013/Shutterstock
