Dáil Éireann Debate, Wednesday - 29 November 2017
87. Deputy Stephen S. Donnelly asked the Taoiseach and Minister for Business, Enterprise and Innovation the average margin per sector for traders exporting to the United Kingdom, in tabular form; and if he will make a statement on the matter. [50920/17]
Amharc ar fhreagraNeither my Department nor its agencies collect data relating to the average profit margins across the variety of sectors that export to the United Kingdom.
However I can state that, as set out in my Department’s recently published strategy in response to Brexit entitled “Building Stronger Business”, Enterprise Ireland has been particularly active in supporting firms impacted by Brexit. Specifically, in the immediate aftermath of the referendum result, Enterprise Ireland was in contact with each of its client companies that export to the UK. As a result, Enterprise Ireland knows, in detail, the level of their clients’ exposure to Brexit associated risks.
In March 2017 EI published its international events programme for 2017 to support Irish exporters which lists 145 events scheduled in Ireland and overseas to include 46 international trade visits with focus on market diversification into Eurozone and North America. Enterprise Ireland has also launched a ‘Global Ambition Campaign’ which is a communications campaign to promote Irish companies and their products and services to international buyers. Enterprise Ireland also launched a new strategy to increase exports to the Eurozone by 50 per cent (€2 billion) by 2020 – this is a key response to any potential barriers which may adversely impact trade with the UK.
Also in March, 2017, EI’s 'PrepareforBrexit' communications campaign featuring the ‘Brexit SME Scorecard’ (on www.prepareforbrexit.ie) was launched. The ‘Brexit SME Scorecard’ is an interactive online platform which can be used by all Irish companies to self-assess their exposure to Brexit. The Scorecard uses a short diagnostic to generate a report scoring SME performance across a range of metrics against best practice. This can then be used to direct firms towards relevant schemes, programmes or other forms of assistance.
Enterprise Ireland will continue to engage one-to-one on a regular basis with clients to support their preparations for Brexit and will promote increased awareness and preparation across the economy for the various challenges posed by Brexit through the Brexit Scorecard. As set out in the Department’s strategy, Enterprise Ireland will develop stabilisation options to ensure, where necessary, that larger, strategically important companies that are viable but vulnerable can make the necessary investment to overcome the challenges of Brexit. Enterprise Ireland will continue to support companies to maintain and grow opportunities in the UK market, while, at the same time, supporting companies to grow market opportunities in the Single Market, and in particular in the Eurozone.
Looking to the medium to longer term, Enterprise Ireland will continue to support companies in terms of innovation, competitiveness, management and financial capability to become more resilient in international markets and to be competitive with other economies.
I should also add that work is progressing on a proposed Brexit-related Working Capital Guarantee Scheme and the scoping out of the need for a longer term Business Development Loan Scheme which would assist firms in investing for a post-Brexit environment.
