O'Dowd urges Louth businesses to prepare as Brexit deadline approaches

With just over two months to go to the Brexit deadline on October 31, Louth Fine Gael TD Fergus O'Dowd has urged businesses in the County to prepare. 

In a statement issued today, Deputy O'Dowd highlights nine steps in particular that all businesses can take now to help prepare for the UK’s departure from the EU. 

O’Dowd said: “Brexit is less than 10 weeks away. In the midst of this uncertainty it is imperative that County Louth companies can and take immediate action to mitigate the potential risks and position themselves to take advantage of the opportunities. 

“I strongly urge business locally to ensure they check the wealth of information available on www.gov.ie/Brexit and avail of the range of supports which are available to help Louth businesses get through what may be a very difficult period ahead. 

“My colleagues in Government have been working very hard to ensure we are as prepared as possible for the different possible Brexit scenarios. 

“A practical step all businesses can take immediately is to ensure they have an EORI number. An EORI number is a European Union registration and identification number for businesses which undertake the import or export of goods into or out of the EU. 

“The Government is again appealing to a number of sectors of concern to engage. I strongly urge all businesses operating locally to take immediate steps to make sure their needs are catered for,” O'Dowd continued. 

There are 9 steps that businesses, large and small, can do now, according to the Deputy O'Dowd:

1. Understand the new rules for UK importing and exporting

2. Review your supply chain and UK market strategy

3. Be aware of possible changes to transport and logistics

4. Review all your certification, regulation and licencing

5. Review your contracts and data management

6. Ensure you are maximising Government Brexit programmes and supports

7. Manage your cash flow, currency and make sure your banking is in order

8. Protect and inform your staff

9. Know more about the impact to your sector

According to Deputy O'Dowd, the ongoing Government contingency planning has indicated that the following sectors have low levels of Brexit preparedness:

•  Smaller businesses who may not realize they are trading with the UK

•  Construction businesses

•  Manufacturing companies

•  Agrifood businesses, particularly those in food production

•  Retail particularly independent shops, and hardware stores who source products from or through the UK.

•  Hauliers

O'Dowd includes in his statement, advice from Minister for Finance and Public Expenditure and Reform Paschal Donohoe, where the Minister said:

“It is vitally important that businesses do all they can now, to prepare for the impact of Brexit. One of the most practical steps businesses who trade with the UK can take is ensuring they have a customs registration, known as an EORI number. Having an EORI number is a necessary first step in being able to trade with the UK post Brexit.

“In July, Revenue intensified its Brexit engagement programme with businesses who trade with the UK with letters issuing to all businesses who traded with the UK in 2018, on a phased basis, outlining the most critical Brexit preparation steps they need to take in addition to having a customs registration (EORI number).

"Over 37,000 letters have issued so far during July and August. The fact that almost 11,000 businesses have registered for an EORI number in 2019 to date is a clear indication that businesses are actively preparing for Brexit and have taken the first critical step by getting their EORI number.

“If your businesses hasn’t got an EORI, make sure you don’t leave your business at a disadvantage, take that first step and apply for your EORI now. Businesses are putting the future viability of their business in jeopardy if they do not prepare for Brexit.”