As part of 2017 Budget negotiations, I successfully secured a €100 million increase in the Department’s expenditure ceilings by year end 2016 and for 2017. This includes €3 million which is specifically for “Brexit” related posts across the Department and its Agencies. Part of this funding will support 39 targeted posts in Enterprise Ireland, located both at home and abroad, to support its clients across all markets.
While Enterprise Ireland supports companies in the Food and Drink sector in Ireland, Bord Bia under the Department of Agriculture and Food works with these companies to access overseas markets. Both Agencies work closely together.
While the UK remains a key market, Enterprise Ireland is also working closely with Irish Food and Drink companies to build on their international reputation for product excellence and to drive growth in other key markets such as the Eurozone, Canada, the US and Asia.
In summary, the key focus is on supporting companies through:
1. Greater competitiveness
2. Markets diversification
3. More innovation
4. Better risk management and strategic financial skills.
My Department, working closely with the Department of Finance, the Strategic Banking Corporation of Ireland (SBCI), EI and various stakeholders, has conducted a structured engagement with a large and diverse range of companies, to ascertain what, if any, impact Brexit is having on their business. This detailed work will provide a strong evidence base for the development of appropriate, tailored and targeted responses to support real business needs. Work on the data is well advanced and I will shortly be considering what options, in addition to those already being provided by the Agencies, should be introduced.
