Enterprise Ireland urges Irish businesses to prepare for Brexit with its Currency Calculator amid a sharp dip in sterling

As part of its Brexit response, Enterprise Ireland continues to proactively engage with client companies nationwide to confront the broad implications of Brexit, across a number of areas including customs, strategic sourcing, financial management, employment law and the movement of people.

The continuous fluctuation of the value of Sterling continues to raise concerns among businesses and exporters.

Enterprise Ireland has launched its Currency Impact Calculator tool to help businesses assess whether foreign exchange risk is a critical issue for their business and if so, to guide the company’s foreign exchange risk management strategy.

Jonathan McMillan, Brexit Unit Manager, Enterprise Ireland, said: “Enterprise Ireland has been working closely with Irish companies that are exposed to Brexit. We are supporting these businesses each day to implement comprehensive action plans to overcome the obstacles presented by Brexit which include fluctuations in currency.

Our unit offers practical advice and support through the Brexit Advisory Clinics, access to independent expert consultants, online training and webinars, as well as financial aid for Brexit planning and training purposes through supports such as the ‘Be Prepared Grant.’

Our ultimate objective is to help companies take action now so that if or when instances such as a sharp fall in the value of sterling arise, the business is best placed to withstand any potential adverse impact.

The UK remains a key trading partner, and any dip in the value of sterling will remain an area of focus in terms of preparing companies to not only reduce risk and to steer through the challenges ahead but to further drive innovation and step into new global markets.”