Frances Fitzgerald (Dublin Mid West, Fine Gael) | Oireachtas source

The Government is investing heavily in promoting and supporting the need for businesses to become Brexit-ready. I agree with the Deputy that we need companies to think very clearly about the challenges posed by Brexit. Ever since the result of the UK referendum, the agencies under my remit have been highly engaged in encouraging and supporting companies to prepare for Brexit. Enterprise Ireland created a UK export website featuring documents, videos, etc., addressing the key Brexit challenges, including the immediate currency aspects.

EI's current Prepare for Brexit campaign includes a Brexit scorecard and this is being taken up by more and more companies to self-assess their preparedness. It encourages them to think about the different elements of Brexit and how they may be impacted. There is also a Be Prepared grant of up to €5,000, which is available through the local enterprise offices. Some 12,000 businesses have accessed it and this shows that companies are thinking about it and analysing their situation. The LEOs and EI are also working directly with clients and Bord Bia has launched a similar tool.

InterTradeIreland interviewed 750 SMEs on both sides of the Border in the period January to March 2017, which is a relatively small sample. I am concerned about the lack of preparation in companies. My Department recently published the findings of a survey of over 1,000 SMEs on the challenges posed by Brexit, which indicated that, while only 37% felt that there was some immediate impact, 61% expected to be impacted over the following 18 months. Currency costs and financial issues were the key concerns.

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