Dáil Éireann Debate, Monday - 11 September 2017
66. Deputy Stephen S. Donnelly asked the Tánaiste and Minister for Business, Enterprise and Innovation the measures undertaken by her Department to help businesses diversify their export markets as a consequence of Brexit; the number of firms that have availed of these specific measures; and if she will make a statement on the matter. [38659/17]
View answerThe UK is a strategically important market for Irish-owned companies and some sectors, for example Food, Timber, Construction and Engineering are particularly dependent on that market.
However, the objective is not to reduce our exports to the UK market, which will always be a key market. The aim is to grow our exports to other markets. A particular focus will be the Eurozone market.
In terms of export assistance, my Department secured additional resources in Budget 2017 to enable EI and the LEOs to support exporting companies. An extra 39 staff are being recruited by EI to support companies with market research and new market penetration. EI will organise some 145 trade promotion events in 2017.
Since the UK referendum result, my Department and its agencies - Enterprise Ireland, the Local Enterprise Offices and Inter Trade Ireland - have been actively engaged in supporting companies to assess and address their exposure to Brexit.
In addition to the market diversification drive characterised by the new Eurozone Strategy, Enterprise Ireland’s focus continues to be on supporting companies on a one to one and on a sector by sector basis to enhance their competitiveness and capability and build on their success in existing and new markets. In March 2017, Enterprise Ireland launched its ‘Brexit SME Scorecard’, a new interactive online platform which can be used by all Irish companies to self-assess their exposure to Brexit under six business pillars where they have not already done so. Based on answers supplied by the user, the Scorecard generates an immediate report which contains suggested actions and resources, and information on events for companies to attend, to prepare for Brexit.
Enterprise Ireland has also launched a Be Prepared Grant that supports the costs of SME clients in preparing a plan to mitigate risks and optimise opportunities arising from Brexit. It can be used to help cover consultancy, travel and out of pocket expenses associated with researching the direction of their Brexit action plan. These supports are available on EI’s website: www.enterprise-ireland.com.
In May 2017, Enterprise Ireland launched a new Eurozone Strategy to assist Irish exporters increase exports in Eurozone countries by 50%, from €4bn currently to €6bn, by 2020. This strategy will be accompanied by a new ‘Irish Advantage’ campaign which will target Eurozone buyers to promote Irish innovation in key Brexit impacted sectors.
Eurozone markets can provide currency stability, proximity and potential for growth and opportunities for Irish companies. Enterprise Ireland’s Eurozone Strategy will see the agency partnering with some 600 client companies, approximately half of which are ‘Eurozone Start’ (relatively new to the market and who are heavily reliant on the UK) while the remainder are ‘Eurozone Scale’ (already exporting to the Eurozone).
To communicate Enterprise Ireland’s Eurozone Strategy and the supports available as part of the implementation of the agency’s strategy, a Prepare for Brexit Breakfast Roadshows was rolled nationally to engage with companies.
Each of the 31 Local Enterprise Offices can offer advice, training and mentoring to address Brexit challenges. Each LEO can now offer financial assistance to clients to examine export options, to improve product innovation and improve the competitiveness of their business in the face of Brexit.
InterTrade Ireland has established a new Brexit Advisory Service to assist SMEs, particularly dependent on cross border trade.
On the critical issue of finance, following significant analysis and stakeholder consultation, my Department is currently working to develop appropriate, tailored and targeted responses to meet the needs of companies across the economy around working capital and business development schemes. While these measures are being considered in the context of existing State aid rules, this work, along with market developments as a result of Brexit, and ongoing engagement with the business community, will inform further discussions with the Commission and the development of any further initiatives to business.
