Dáil Éireann Debate, Thursday - 2 March 2017
376. Deputy Brendan Smith asked the Minister for Jobs, Enterprise and Innovation the measures that have been introduced to assist sectors that are heavily or totally dependent on the sterling area for their export markets and that have been impacted negatively since the British referendum on EU membership and the fall in the value of sterling; and if she will make a statement on the matter. [11110/17]
Amharc ar fhreagraGiven that Brexit is likely to represent a structural shift in the UK trading relations with partners, short, medium and long term responses are needed. These include market diversification, cost reduction, innovation and price repositioning. My Department, Enterprise Ireland (EI) and the Local Enterprise Offices (LEOs) have measures in place to address these issues for client companies. These measures include:
- The LEO Capital allocation being increased by €4m for 2017 which will be used to enhance the competitiveness of longer term start-ups, micro and small firms and will help the LEOs develop business capabilities in innovation, market diversification, cost competitiveness and business management.
- Securing monies for Enterprise Ireland to have an additional 39 targeted posts to enable it to support clients across markets. This will include management capability, leadership, marketing/sales skills, innovation and R&D to help companies build market share and create new market opportunities. EI will also support clients to reduce supply chain costs and drive efficiencies and cost reductions.
My Department, along with stakeholder groups and the Department of Finance and the Strategic Banking Corporation of Ireland has conducted a structured engagement with a diverse range of companies across all sectors and regions. The aim of this engagement is to construct an evidence base on which appropriate, tailored and targeted responses can be delivered to meet real identified business needs.
Results of this quantitative and qualitative research are currently being analysed.
The outcome of the structured engagement, along with market developments as a result of Brexit, will inform further discussions and the development of any initiatives for business.
