A survey of Enterprise Ireland client companies attending International Markets Week finds that 53% of companies say that Brexit has had an impact to their business with one in ten companies citing that Brexit has cost their business over €100K.
Nearly five percent of companies say that Brexit has cost their business over a quarter of a million euro to date.
Are Brexit R&D costs impacting Irish Business Development?
One in three (33%) of the Enterprise Ireland client companies surveyed cited currency fluctuations as their primary Brexit concern. Other concerns listed include:
- Tariffs 22%
- Supply chain disruption 16%
- Uncertainty for Brexit outcome 15%
To assist client companies to respond to Brexit, Enterprise Ireland has implemented a number of support programmes since 2016 for Irish exporting companies to build resilience and capacity to scale by focusing on enhancing their innovation, competitiveness and market diversification action plans.
As the 31st of October deadline approaches, Enterprise Ireland is actively encouraging client companies to further their business diversification plans (Which would obviously include their sales and marketing plans) and take action now.
To learn more – go to: https://www.enterprise-ireland.com/en/News/PressReleases/2019-Press-Releases/Brexit-has-cost-one-in-ten-Irish-exporters-over-euro-100k-to-date-Enterprise-Ireland.html