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Firms’ lack of Brexit readiness ‘worrying’
Pic: RollingNews.ie

27 Nov 2020 / brexit Print

Firms’ lack of Brexit readiness ‘worrying’

Enterprise Ireland has described the results of a survey of businesses’ Brexit customs preparations as “worrying”.

The survey of 600 companies, carried out by IHS Markit, found that while 52% saw customs and logistics as a priority, only 42% felt they were significantly or fully ready for Brexit.

22% were still figuring out what they needed to do ahead of the 1 January deadline.

Managing customs procedures

Enterprise Ireland has also carried out an analysis of companies which have completed its Brexit Readiness Checker.

This shows that 50% have yet to decide who will manage all documentation and procedures when their goods arrive in Great Britain.

More than 30% have yet to decide if customs procedures will be managed in-house or through an intermediary, and 44% have not decided how they will pay customs charges.

More than half of firms have yet to determine the potential tariff of their goods.

'Real risk' of delays

Enterprise Ireland, in conjunction with the Local Enterprise Network, is holding a series of five regional webinars for all business. These start on 7 December.

Tánaiste and Minister for Enterprise, Trade and Employment Leo Varadkar said it would be understandable if Brexit was the last thing on business owners’ minds this year.

He warned, however, that there was a real risk of delays and loss of income if businesses were not prepared for the UK’s exit from the EU’s single market and customs union.

Gazette Desk
Gazette.ie is the daily legal news site of the Law Society of Ireland