How businesses can prepare for Brexit
A Practical approach
Following the enactment of Article 50, we look at the implications of Brexit for business in Ireland.
Does your business:
- Export to the UK?
- Import from the UK?
- Have operations in the UK?
- Operate in a sector that consumers can purchase directly from the UK?
- Operate in a highly regulated sector?
- Employ UK citizens in Ireland?
- Employ Irish or other EU citizens in the UK?
- Plan to have operations in the UK in the future or do more business with the UK?
- Plan to diversify into new markets outside the UK?
If any of the above apply to your business, then Brexit is likely to have an impact on your business and this may create both opportunities and challenges.
We have identified the following cross sector and industry areas of impact:
- Movement of people
- Restrictions to market access
- Market opportunities
- Cost of market access
Businesses should proactively engage in scenario planning to assess the possible impacts of Brexit. Action plans should be drawn up for both the short and medium term. To learn more, download our report, Preparing for Brexit - A practical approach.