A new survey has found that three quarters (76%) of Chief Executives surveyed by Love Irish Food believe the food and drinks industry in Ireland is inadequately prepared for the impact Brexit may have on the sector in which they operate. 
 
Love Irish Food as an organisation works with the food and drinks industry to safeguard the future of the branded food and drink manufacturing sectors in Ireland with its members employing more than 15,000 people in food and allied businesses across the Irish economy.
 
The results of the survey, which gathered the views of Love Irish Food member brand CEOs, were launched today (Thursday 1st) at the Love Irish Food Marquee at Bloom’s Food Village in the Phoenix Park.

The survey received a 70% response rate and found that 89% food and drinks business leaders had already felt an impact of Brexit, with 33% noting that impact had been "significant" to date. Similarly, 60% of the chief executives surveyed believe the expected impact of Brexit will be "significant" over the next 18 months.

In terms of input costs, CEOs noted that currency was the primary immediate concern to impact on profitability for their companies during Brexit, while 64% believe sales development will be a key activity in maintaining their company’s performance.
 
Launching the survey’s results, Economist and Love Irish Food Chairman, Jim Power said, "There can be no doubt that Brexit has had and will continue to have a significant impact on the food and drinks industry in Ireland - the views of some the sectors’ most senior business leaders surveyed by Love Irish Food clearly attest to that."

He added, "The food sector is undoubtedly the most exposed sector of the economy to negative Brexit outcomes. Given this, there should be no surprise that the vast majority of those surveyed do not believe there will be an Ire-Exit. This is a clear affirmation of the Irish food and drinks industry’s commitment to Europe."

Source: www.businessworld.ie