Guidance for Irish SMEs following Brexit Referendum

Following the UK referendum on BREXIT, a number of useful guides for Irish SMEs trading with the UK have been published.

These can be accessed at:

www.enterprise-ireland.com/ukexporthelp

www.intertradeireland.com/brexit

The immediate impact of the BREXIT vote to date has been the depreciation of Sterling. SMEs are advised to take professional advice on currency and hedging to minimise the impact of Sterling’s volatility. Although the UK decision is to leave the EU, this decision will not take effect for some time. The UK is still an EU member, so in the short-term Cavan businesses can continue to trade with the UK on the same terms as before, and Irish citizens can continue to move freely on the island of Ireland, and to and from the UK.

The full and precise implications of the UK referendum result will now depend on the period of negotiation ahead, involving the UK and our EU partners. The Government has undertaken planning in recent months for the contingency of this result, and it will now take this work forward to ensure that Ireland's interests are represented fully in the negotiating process.

The Minister for Jobs, Enterprise & Innovation has acknowledged that there is a lack of clarity as to how the negotiation process will proceed and she will be working to ensure that there is certainty as early as possible on the terms of future trading relationships, including the extent of access by the UK to the EU's single market.

Ireland's continued commitment to the EU has been reinforced by Government.

 

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