Government appeals to Irish businesses to get Brexit-ready as 10-week countdown begins

Government appeals to Irish businesses to get Brexit-ready as 10-week countdown begins

With 10 weeks to go to the Brexit deadline on October 31st, the Irish Government is urging businesses to ensure they are ready. The Government has highlighted steps that all businesses should take now to prepare for the UKs departure from the EU.

As the likelihood of a no deal Brexit increases, Government Ministers joined forces to issue the reminder.

Sectors of particular concern were highlighted including construction, manufacturing, agrifood, retail and haulage. Smaller businesses who ‘may not realise they are trading with the UK’ were also included.

Amongst the steps businesses are being advised to take are to ensure they understand the new rules for UK importing and exporting and review supply chain and UK market strategy.

They are also being asked to manage cash flow currency and make sure their banking is in order. Protecting and informing their staff has also been identified as a vital step.

Minister for Foreign Affairs, Simon Coveney TD, said, ‘Work on Brexit preparations has the highest priority across Government, particularly as the likelihood of a no deal Brexit increases. A no deal Brexit would have profound implications for Ireland on all levels. These include macroeconomic, trade and sectoral challenges, both immediately and in the longer term.

The Government’s Brexit Contingency Action Plan Update, reflects the extensive work which has taken place at EU level and on a whole-of-Government basis, including the Brexit Omnibus Act, to prepare for a no deal Brexit. Now, with 10 weeks to go, we are urging businesses and consumers to prepare.’

The Irish Government published its latest Brexit Contingency Action Plan Update last month and measures are ongoing to ensure no-deal preparedness. A further round of direct communication from Irish Revenue to businesses is taking place. The purpose is to identify potential financial exposure to the UK and the steps that need to be taken.

The Clear Customs initiative is helping Irish businesses trading with or through the UK in preparing for potential new customs formalities. Training programmes and grant aid have been made available to assist build capacity in the customs sector.

Adding to the appeal, the Irish Minister for Finance, Public Expenditure and Reform, Paschal Donohoe asked business owners to take practical steps to protect themselves.

‘Businesses are putting the future viability of their business in jeopardy if they do not prepare for Brexit,’ Minister Donohoe said.

Image of Dublin skyline; Photo credit: Mark Dalton via pexels.com

 

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