Thursday, 17 December 2020
Department of Enterprise, Trade and Employment
216. To ask the Minister for Enterprise, Trade and Employment the funding made available to businesses for Brexit preparations through his Department or agencies under its remit in 2020 by county; the number of businesses which have benefitted by county in tabular form; and if he will make a statement on the matter. [44464/20]
I am conscious that the delays to the Brexit process may have caused businesses to defer their Brexit preparations. The added disruption of the pandemic has meant that many businesses have had to focus their efforts through much of 2020 on successfully navigating an unforeseeable crisis.
However, Brexit will mean change for Irish businesses. I am encouraging businesses to carefully consider their exposure to Brexit-related impacts, to take the necessary steps to insulate themselves from those impacts, and to ensure they continue to trade after 1 January.
The Brexit Loan Scheme makes lending available to eligible businesses that are exposed to current or future impacts arising from the UK’s withdrawal from the EU. On 7 December, there had been 281 loans sanctioned under this scheme, to a total value of €57,072,250. Government has now approved an extension for this scheme so that it will remain available throughout 2021 to help SMEs and small midcaps with their liquidity needs arising from Brexit.
The Future Growth Loan Scheme makes loans available to eligible Irish businesses to assist long term, strategic investment, including in response to Brexit and COVID-19. This scheme is also open to businesses engaged in the farming and seafood sectors. The Future Growth Loan Scheme has seen strong uptake to date and in July the initial €300m made available under the scheme was expanded by €500m, bringing the total funding available under the scheme to €800m. By 11 December, there were 2,601 loans sanctioned under this scheme, to a total value of €523,623,534. Table A, attached, shows the County breakdown of Brexit Loan Scheme and Future Growth Loan Scheme.
Enterprise Ireland, the Local Enterprise Offices and InterTradeIreland provide a number of specific supports available to businesses making Brexit preparations. Further details of these supports can be found in Tables B-F, attached.
Enterprise Ireland also administers some Brexit related supports on behalf of IDA Ireland. The data available shows that in 2019, a total of €100,347,964 in grant support was paid to IDA Ireland clients nationally across IDA Ireland’s entire suite of supports. Please see Table G, attached, for a breakdown on a county by county basis of grants paid to IDA Ireland clients in 2019.