Dáil Éireann Debate, Tuesday - 4 December 2018
278. Deputy Aindrias Moynihan asked the Minister for Business, Enterprise and Innovation the steps she is taking to increase uptake in the various schemes her Department offers to allow businesses to prepare for Brexit; and if she will make a statement on the matter. [50516/18]
View answerMy Department and its agencies are providing extensive supports, schemes and advice to ensure that businesses are prepared for Brexit. These measures aim to assist businesses in identifying key risk areas and the practical preparatory actions to be taken over the coming months. While I have seen a very positive uptake of the supports available, not everyone is engaging. With Brexit around the corner, I want business to know my Department and agencies are here to help.
My Department and its agencies, have been very active in the 'Getting Ireland Brexit Ready' public information campaign, including workshop events throughout the country aimed primarily at business and people most impacted by Brexit.
Enterprise Ireland (EI) has established a Prepare for Brexit online portal and devised a communications campaign, as well as an online "Brexit SME Scorecard" to help Irish businesses self-assess their exposure to Brexit and a "Be Prepared Grant" to support SME clients in planning to mitigate risks arising from Brexit. It has also launched a new Eurozone Strategy to help SMEs broaden their export footprint beyond the UK. As part of awareness-raising activities, EI has rolled out regional Brexit Advisory clinics throughout the year.
InterTrade Ireland's Brexit advisory service was established in May 2017 to provide a focal point for SMEs working to navigate the changes in cross-Border trading relationships brought about by Brexit negotiations.
Local Enterprise Office funding has been increased and this increase is being used to assist micro-enterprises in becoming more competitive and better able to cope with the changing environment in which they are operating. The suite of LEO Brexit supports includes tailored mentoring to address Brexit-related business challenges and targeted training on specific Brexit challenges.
The Brexit Loan Scheme was launched in April 2018 and provides affordable working capital financing to eligible businesses that are either currently impacted by Brexit or will be in the future, to help them innovate, change or adapt to mitigate their Brexit challenge.
In May 2018, the Rescue and Restructuring scheme was extended to include temporary restructuring aid for enterprises experiencing acute liquidity needs. The aid is granted in the form of loans repayable over a period of 18 months. Together with the Brexit Loan Scheme, this temporary restructuring aid will provide valuable stabilisation to businesses as they respond to the immediate and long-term impacts of the UK’s decision to leave the EU.
The Future Growth Loan Scheme was announced in Budget 2019. The scheme will be available to eligible Irish businesses, including those in the primary agriculture and seafood sectors, to support strategic, long-term investment in a post-Brexit environment. It will provide low cost loans for terms of between 8-10 years, which is not readily available on the market. It is expected that this scheme will be operational in Q1 2019.
I will continue to ensure we provide the supports and services best suited to the needs of enterprise over the coming months.
