Brexit Information

Brexit Information

Nine areas of potential impact for your business:

  • UK market dynamics – possible market contraction; buy British campaigns
  • Currency – impact on profits; delayed decision making due to uncertainty
  • Customers – impact on customers leading to challenges and opportunities
  • Competition – expect new and increased competition
  • Sourcing – impact on cost, certainty and quality; dependence on UK distributors
  • Transport and logistics – established transport routes may no longer be optimal
  • Regulations and standards – may change for exporting to and importing from UK
  • Customs, tariffs and taxation – may see an increase in administration, cost and time
  • Movement of people – possible restrictions  

Brexit SME Scorecard

The Brexit SME Scorecard online tool has been designed to stimulate companies into thinking about the key areas that may be impacted in their business because of Brexit and to self-assess their level of preparedness. Using the ‘Brexit Scorecard’ online tool micro and smaller businesses can self-diagnose whether they are ready for Brexit. By answering a series of questions online under six key business pillars a comprehensive report is automatically generated which serves as a prompt and discussion document for business owner / managers to consider as part of their planning for Brexit. The report provides companies with a benchmark in terms of their level of preparedness against best practice and signposts them to a range of supports, resources and information available via Local Enterprise Offices.

The Brexit SME Scorecard is a starting point to help businesses to begin preparing a strategy and ready their teams in terms of planning and shining a spotlight on some of the key operational areas that may be exposed.

You can access the Scorecard at www.prepareforbrexit.ie

Brexit Loan Scheme

The Brexit Loan Scheme, which was announced in the 2018 budget, will provide affordable financing to businesses that are either currently impacted by Brexit or will be in the future. The Scheme, which will be delivered by the Strategic Banking Corporation of Ireland (SBCI) through commercial lenders will make €300 million available to eligible businesses with up to 499 employees at an interest rate of 4% or less.

Loan features:

  • Loan amount from €25,000 up to a maximum of €1,500,000
  • Loan term of up to 3 years
  • Loans less than €500,000 will be unsecured
  • Interest rate of 4% or less.

Loans can be used for:

  • Future working capital requirements to fund innovation, change or adaption the business to mitigate the impact of Brexit.

This Scheme is supported by an agreement with the EIF, and SBCI have signed to support lending toward innovative small and medium-sized enterprises (SMEs) as well as small Mid-caps under InnovFin – EU finance for innovators, an initiative supported by the European Commission. This agreement allows SBCI to provide guarantees to lenders financing innovative companies in Ireland for a total of €300 million over the next two years with the support of a counter-guarantee provided by the EIF and backed under Horizon 2020, the EU Framework Programme for Research and Innovation. This is the first InnovFin SME counter-guarantee agreement in Ireland, enabling SBCI to enhance innovative companies’ access to funding at favourable conditions.

 
Click here to download an information pack for the Brexit Loan Scheme.

LEO Supports

Your Local Enterprise Office (LEO) has a range of supports to help you to address issues and maximise potential opportunities.

Click on any of the supports below to rad an Brexit information page about them:

Brexit Mentor Programme

Lean for Micro

Co-innovate Summary

The Enterprise Europe Network

Technical Assistance for Micro-Exporters

Trading Online Voucher Scheme

MFI (Microfinance Ireland)

Training and Management Development

LEO Support Services

LEO Funding Information  

For further information please contact your Local Enterprise Office.

More Information


Please see Enterprise Ireland's website for information for Irish Exporters to the UK.

Please see Intertrade Ireland's website for some further helpful information and advice.

 

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