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

There is much work to be done by all stakeholders, including the Government and organisations representing businesses. Judging from my experience yesterday with many of these groups and from a meeting I attended in Enterprise Ireland last week with a range of businesses, there is a wide variation in companies' preparedness for Brexit and awareness of it. Companies totally dependent on the UK market are exquisitely sensitive to the impact and are thinking through market diversification and the research and innovation they need to do. There is much thought and concern on the issue. Initiatives are being taken by many companies. Enterprise Ireland is working hard to ensure companies are putting plans in place. The Department is supporting InterTradeIreland and providing it with additional funding this year to undertake a range of initiatives to help SMEs adapt to changing circumstances. The impact on small and medium enterprises, in particular those with a dependency on the UK market, will be very challenging. They will need to diversify, which can be challenging at a time when companies are watching their margins and it can be difficult to put the money in. No effort will be spared to work with businesses and their representatives to ensure they have plans in place to deal with Brexit.

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