Written answers

Tuesday, 15 January 2019

Department of Jobs, Enterprise and Innovation

Brexit Supports

Photo of Lisa ChambersLisa Chambers (Mayo, Fianna Fail)
Link to this: Individually | In context | Oireachtas source

521. To ask the Minister for Jobs, Enterprise and Innovation the status of the uptake of all Brexit related supports and services under the remit of her Department; and if she will make a statement on the matter. [1644/19]

Photo of Heather HumphreysHeather Humphreys (Cavan-Monaghan, Fine Gael)
Link to this: Individually | In context | Oireachtas source

My Department and its agencies are working to provide extensive supports, schemes and advice to ensure that businesses are prepared for Brexit. These measures aim to assist businesses in identifying key risk areas and the practical preparatory actions to be taken over the coming weeks.

I made Brexit one of my top priorities in the allocations of funding for 2019 in my Department and I have allocated further funding to Brexit-related support from agencies and offices of my Department as part of Budget 2019. I have allocated an additional €5 million capital funding to the Local Enterprise Offices, an increase of 22% for 2019, and a further €1 million allocated to InterTrade Ireland to help SMEs prepare for the particular North-South challenges associated with Brexit. I have allocated an additional €3m to Enterprise Ireland and €2m to IDA Ireland to expand their global footprints and drive the diversification of trade and investment. Additional resources have also been distributed across Science Foundation Ireland and the Health and Safety Authority and the NSAI for 2019 to support enterprises adjust to the new relationships with the UK and pursue new opportunities.

Informed by detailed research, my Department has put in place a package of measures in response to the needs of businesses affected by Brexit-related uncertainty. The Brexit Loan Scheme, launched in March of 2018, provides relatively short-term working capital, 1 to 3 years, to eligible businesses with up to 499 employees to help them to innovate, change or adapt to mitigate their Brexit challenges. Businesses can confirm their eligibility with the Strategic Banking Corporation of Ireland (SBCI) and, if deemed eligible, can apply to one of the participating finance providers for a loan under the scheme.

As at 11 January, there have been 369 applications for eligibility under the scheme, of which 325 have been approved to date, with a further 36 being processed by SBCI. 63 of those applications have progressed to sanction at bank value, to a total value of €14.83m.

Work continues on the development of the Future Growth Loan Scheme, which will provide a longer-term facility, 8 to 10 years, of up to €300m to support strategic capital investment for a post-Brexit environment by business at competitive rates.

InterTrade Ireland also plays a major role as part of Ireland’s Brexit response and offers Brexit-related advisory services to eligible businesses. To date, more than 4,000 SMEs have directly engaged with the Brexit Advisory Service.

ITI offers a Brexit Start to Plan voucher scheme, which enables businesses to get professional advice on how best to plan and prepare for the UK's withdrawal from the European Union. This support helps businesses obtain advice on specific areas such as tariffs, currency management, regulatory and customs issues and movement of labour, goods and services. ITI vouchers are worth up to €2,250 (inclusive of VAT) each. As of its most recent report and the end of November 2018, 811 businesses have applied for a Brexit Start to Plan voucher, of which 657 have been approved.

Enterprise Ireland has established a Prepare for Brexit online portal and communications campaign, as well as an online “Brexit SME Scorecard” to help Irish businesses self-asses their exposure to Brexit and a “Be Prepared Grant” to support SME clients in planning to mitigate risks arising from Brexit. It has also launched a new Eurozone Strategy to help SMEs broaden their export footprint beyond the UK.

Over 3,700 business have used Enterprise Ireland’s Brexit Scorecard to date and 85% of EI client firms are now taking actions, while 151 applications for the Be Prepared grant have been approved. 165 EI clients have received funding under its “Act On” programme, which supports the engagement of a consultant to help clients identify weaknesses and improve resilience. EI has also hosted 11 Brexit Advisory Clinics.

EI also recently launched a Customs Insights Online course which is a new online training support to help all businesses understand how customs work including the documentation and process required to operate and succeed post Brexit. The Customs Insights course explains in clear and simple terms the main customs rules and included the key actions companies can take to prepare for customs after Brexit and the options from Revenue that are available to make the customs process more efficient. This will be available for any company to use whether they are importers or exporters and also whether they are agency clients or not.

The Local Enterprise Offices [LEOs] are the first-stop-shop for anyone seeking guidance and support on starting or growing their business. The LEOs have organised various events to enable companies to learn about the potential impacts and opportunities of Brexit. In addition, over 400 LEO clients have received one-to-one mentoring solely focused on Brexit. Technical Assistance Grants for Micro Export are offered as an incentive for LEO clients to explore and develop new market opportunities. 391 LEO clients have been approved for the Technical Assistance Grant.

My Department has also been active in the 'Getting Ireland Brexit Ready' public information campaign. This campaign includes workshop events throughout the country aimed primarily at business and people most impacted by Brexit. These events have so far taken place in Cork, Galway, Monaghan, Dublin, Limerick and Donegal.

Comments

No comments

Log in or join to post a public comment.