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Planning for Brexit
A practical approach
Brexit commenced in earnest when the result of the UK referendum, which was held on 23 June 2016, was announced. Prior to the referendum, most Irish businesses hoped that the vote would be in favour of the UK remaining within the EU. The result of the referendum was a massive shock to the Irish business community.
The shock has evaporated only to be replaced by a high level of uncertainty. The reaction by the business community is reflected in the political arena as evidenced by the Irish Government’s view that Brexit poses unprecedented political, economic and diplomatic challenges for Ireland.
This document will explain the status of Brexit, highlight some of the challenges that are being encountered from the perspective of indigenous Irish companies that have trading relationships with the UK and then will make a number of suggestions as to how companies can respond to the difficulties posed by Brexit.