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Majority of Irish companies do not feel ready for brexit

Written by Robert McHugh, on 27th Nov 2020. Posted in Ireland

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A survey by IHS Markit of 600 companies on the PMI panel in Ireland, along with analysis of companies which have completed Enterprise Ireland’s Brexit Readiness Checker, reveals a worrying lack of customs preparedness of Irish companies.

While more than half (52%) of companies view customs and logistics as a priority, only 42% feel they are significantly or fully ready.  Of the 600 companies surveyed, 22% were still figuring out what they need to do in relation to top priority issues.

More than 40% yet to decide how to pay customs charges while more than 30% yet to decide who will manage customs procedures. As the 1st January deadline fast approaches Enterprise Ireland, in conjunction with the Local Enterprise Network, is holding a series of five regional webinars for all business commencing 7th December next.

Responding to the analysis, Tánaiste and Minister for Enterprise, Trade and Employment, Leo Varadkar said, "This year has been devastating for many business owners. It would be understandable if Brexit was the last thing on their minds. However, Britain leaving the customs union and single market at the end of this year will bring major changes. There is a real risk of delays and loss of income, which would be really damaging for any business. We are appealing to businesses to get ready now. There is a lot of help available."

He added, "A good first step is to use our Brexit Readiness Checker, which will show you exactly what you need to do for your own business. I know there has been a huge amount to contend with this year already, but I really urge businesses to prioritise getting ready now and use the help that is there. There are 35 days left until the end of the year and time is of the essence."

Source: www.businessworld.ie

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