As our enterprises face the dual challenges of COVID-19 and the new trading relationship with the UK, my Department’s strategic priorities for 2021 are focused on building a resilient enterprise base. The UK remains a strategic market of importance for our companies and Enterprise Ireland is working to assist them sustain and grow their business in the UK through a comprehensive programme of funding, advice and in-market supports.
A recent survey of Enterprise Ireland clients on the UK market reported that 89% of companies see future opportunities in the UK and 83% report that their strategy is to grow exports to the UK.
My Department assisted Enterprise Ireland in launching the Evolve UK programme in 2021 focused on delivering critical insights to Irish companies on the evolving UK market.
The Ready for Customs grant was developed to provide companies with financial assistance to cover the costs of taking on much needed additional customs clearance staff.
To support Irish companies to diversify markets beyond the UK, my Department also assists in the development of EI’s Eurozone Strategy. The Eurozone is the second largest market by value for Enterprise Ireland clients and the strategic ambition is to increase exports by 50% to the Eurozone in priority sectors. This strategy is supported through programmes such as the Market Discovery Fund and Enter the Eurozone Programme.
Enterprise Ireland’s diversification strategy has helped its clients to reduce their UK’s market share of total exports from 42% in 2009 to 31% in 2019. Exports to the Eurozone grew by 15% in 2019 and since 2009 have grown by €3 billion in value.
In addition, as a key Brexit response measure to deepen trade opportunities for Irish companies in the Eurozone, there are now six EI offices in the Eurozone supported by my Department including two new offices in Munich and Lyon established in 2019.