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Thursday 13 December 2018

Businesses urged to be Brexit ready

Minister Paul Kehoe
Minister Paul Kehoe

Brendan Keane

Businesses in Wexford are being urged to avail of Government supports in their preparations for Brexit.

According to a survey carried out by Enterprise Ireland around 85 per cent of companies across the country are taking action to respond to threats posed by Brexit.

The figure represents an increase in the number of businesses taking action compared to the same period last year. Some of the measures include diversifying export markets, improving operational competitiveness, strengthening UK business, developing strategic partnerships and investing in R&D.

The measures have been welcomed by Minister Paul Kehoe who is encouraging Wexford businesses to utilise supports available to them ahead of Brexit taking place: 'The Government offers a wide range of Brexit supports to businesses so I am delighted to see that so many are engaging with this offering.'

In the first half of this year 43 per cent of businesses backed by Enterprise Ireland which are under potential threat from Brexit received grant aid.

Some of the measures available include the Brexit SME scorecard, the Market Discovery Fund - to support market diversification - and the recently €300m Brexit Loan Scheme.

The Local Enterprise Office also offers support and advice through the Brexit Mentor Programme and Minister Kehoe said the Government is also developing proposals for a new Business Investment Loan Scheme in addition to a new Business Finance Advisory Hub with Enterprise Ireland is also offering restructuring support to SMEs that are experiencing financial difficulties.

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