Farm Ireland
Independent.ie

Wednesday 26 July 2017

Brexit barometer launched to measure possible impact on businesses

Pictured were Denis O'Riordan, Kerry Group, Tom Moran, Bord Bia and Tara McCarthy, CEO, Bord Bia at the launch of the Brexit Barometer. Photo: Johnny Bambury-Fennells
Pictured were Denis O'Riordan, Kerry Group, Tom Moran, Bord Bia and Tara McCarthy, CEO, Bord Bia at the launch of the Brexit Barometer. Photo: Johnny Bambury-Fennells
Margaret Donnelly

Margaret Donnelly

Bord Bia has launched a Brexit Barometer, designed to measure the impact of Brexit on businesses.

Designed in conjunction with PwC, the Brexit Barometer will be rolled out to over 150 Irish food and drink exporters in the coming weeks.

The new interactive analytical tool which will be used at each consultation to help companies identify and assess their unique Brexit requirements, risks and opportunities.

According to Bord Bia, the Brexit Barometer includes 100 questions across six specific risk areas – Routes to Market, Customs and Tax, Supply Chain, Trade, Currency and Human Resources.

The Brexit Barometer gives feedback on whether there are areas of highest risks, vulnerability and areas that need to be addressed.

Bord Bia is initially targeting companies with the highest dependency on the UK market. In 2016, Ireland exported €4.1 billion worth of food, drink and horticulture products to the UK market, representing 37pc of our total exports. In particular, 54pc of Irish meat and livestock exports and 90 pc of horticultural and cereal exports are destined for the UK.

Speaking in the launch, the Minister for Agriculture, Food and the Marine Michael Creed said since the Brexit referendum his Department has provided Bord Bia with €3.6m in additional funding to develop new innovative proposals such as the ‘Brexit Barometer’.

"Undoubtedly there are challenging times ahead in the UK but there is resilience in the relationships that our food producers have with retailers and buyers.”


Tara McCarthy, Chief Executive Bord Bia said that Bord Bia’s bespoke approach was necessary as “we know Brexit will affect every sector and every company in a different way.

"Detailed feedback from our pilot ‘Brexit Baromoter’ programme, combined with extensive ongoing dialogue with our client companies, has provided Bord Bia with a unique insight into the industry's concerns. It is with this insight in mind that we developed the this tool to urge exporters conduct a comprehensive cross-functional analysis of all potential scenarios."

She said it is critical for companies to discuss exactly how each risk or challenge will impact the various divisions from finance and distribution to human resources and innovation.

"We want companies to engage at the highest level for their own benefit but also because the data we collect will be central to Bord Bia’s Brexit strategy hereon, including a review and realignment of all our programmes, initiatives and resources. We want to deliver data-driven supports to the industry.”

Online Editors