Wednesday May 27, 2020

Brexit vote caught Irish firms on the hop

Trade body survey finds most have no plan in place to deal with fall-out

30th August, 2016
Cross-border body urges firms to hedge to cope with post-Brexit currency movements

The body's Business Monitor report for the second quarter of this year found that, despite a generally positive business performance, the outcome of the Brexit referendum had caught most businesses offside. A massive 97 per cent of businesses in Ireland have no plan to deal with the consequences of Brexit, with 92 per cent of export businesses having no plan.

23 per cent of Irish firms reported that they planned to decrease their level or speed of investment.

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