The Minister for Business, Enterprise and Innovation, Heather Humphreys today published the findings of a new Brexit survey, which was commissioned by her Department. The Behaviour & Attitudes survey of 1,016 SMEs was conducted between September and October 2019.
The survey found that 13% are experiencing significant Brexit impact; 39% report some impact; 48% report no impact; and 72% expect an impact even with an orderly Brexit. Thirty two percent (up from 21% in March) have postponed a business decision or investment, while only 17% (up from 11%) have accelerated a business decision or investment. Stalling is higher among export businesses.
Furthermore, 77% reported that Brexit is on the agenda of their top management – up from 33% after the referendum in mid-2016. This rises to 86% among UK exporters. An extra 14% have been discussing Brexit within the past 6 months. Key areas of concern are supply chain, tariffs and customs protocols. Sixty percent have sought information through attending a workshop, applying for supports or reading information they received. This compares with 40% in March.
Thirty three percent have taken some action, while 42% of those exporting to the UK have done so. It may be difficult for SMEs to act when the exact challenges remain unclear. Twenty two percent of SME UK importers/exporters plan to engage a customs agent (12% have already actioned this). Twenty one percent will train someone internally (8% have done so already).
Commenting on the report, Minister of State for Trade, Employment, Business, EU Digital Single Market and Data Protection, Pat Breen said, "A quarter of firms report that they use the UK landbridge to transit goods to and from EU markets. I want to remind these businesses that there is a simplified transit customs process for goods using the landbridge, but to avail of it you must put in place a Revenue approved comprehensive financial guarantee."
He added, "This can take time, so I urge businesses to start this process with their financial provider and Revenue straight away. You can do it yourself or get your customs agent or logistics company to do it for you but start the process now to be ready in time."
Source: www.businessworld.ie
