The Irish Small and Medium Enterprises Association (ISME) yesterday called on the Government to create a dedicated unit within the Department of Jobs Enterprise and Innovation to coordinate the various strands of activity to counter the negative effect of the Brexit vote.
In particular, the Association called for an immediate implementation of their Plan B in relation to the short-term effect of currency fluctuation for SME exporters.
The ISME claim the immediate and short-term effect of a weaker sterling will have major implications for SME exporters and the Tourism trade, 41% of which is British holiday-makers.
In addition, the association claims that border counties will be the first to feel the pinch of a prolonged devaluation of sterling.
CEO of the ISME, Mark Fielding commented, "We must do all we can to reduce our costs. Restoring Irelands cost competitiveness is a prerequisite for enhancing our attractiveness as a place to do business, not just for foreign direct investment but for our own indigenous enterprises."
Source: www.businessworld.ie