Friday 18 October 2019

Not too late for firms to prepare for Brexit fallout - Humphreys

Message: Heather Humphreys, Minister for Business. Photo: Colin O'Riordan
Message: Heather Humphreys, Minister for Business. Photo: Colin O'Riordan

David Chance

With just 24 days to go until Britain is due to leave the European Union, InterTradeIreland has urged businesses to step up planning and extended its financial support.

Cross-border trade is dominated by small companies. In the North, for example, an estimated 93pc of the companies exporting to the State have fewer than 50 employees.

"We all know that Brexit has created real commercial and political uncertainty," said Heather Humphreys, Minister for Business. "As we move closer to the March 29th deadline, the message is that it's still not too late to make preparations."

InterTradeIreland is offering financial support of up to €2,250 to help businesses understand what exposure they have to Brexit, such as customs requirements and supply chain exposure, Vat and financial implications, as well as understanding complex tariff codes.

A second grant of up to €5,625, of which half is funded by InterTradeIreland, will help companies put in place critical changes to their businesses as a result of Brexit.

The Newry-based body will make the funding available to companies with 250 employees or fewer and turnover of less than €50m.

Demand for InterTradeIreland's support packages has intensified as Brexit nears.

From just 166 applications in 2017, the numbers surged to 653 in 2018 and 320 this year so far.

Irish Independent

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