The Irish Independent: Are Irish SMEs prepared for Brexit?

25 January 2018

The Irish Independent writes that according to a recent survey, over half of Irish small and medium sized enterprises (SMEs) have already been affected by Brexit.

Those hardest hit so far work in exports and imports, particularly in the food industry. In addition the survey found that only 16% of Irish SMEs have some kind of formal written contingency plan in place for when the UK leaves the EU. The survey, carried out by Behaviour & Attitudes, asked how SMEs are responding to Brexit and what financial support they might need. The Irish Government seems well aware of the challenges facing the sector and has announced a €300m Brexit loan scheme which allows businesses with fewer than 500 employees to take out loans with 4% interest rates. 69% of the Irish workforce are employed by SMEs and they make up around half of the country’s turnover. 

The article in English: Over half of small firms already hit by Brexit fallout

Sourcing and translation by European Movement International

© The Irish Independent