New Initiative to Help Brexit-Impacted Companies Develop New Markets

Minister for Enterprise, Trade and Employment, Simon Coveney, TD, today welcomed a new initiative from Enterprise Ireland that will help Irish companies impacted by Brexit to explore international growth opportunities in new markets outside the UK.

Under the new offer – called the ‘Post-Brexit Market Growth and Diversification Grant’ – eligible Enterprise Ireland and Bord Bia client companies can access a fast-track strategic market development programme that will assist them to develop a strategy to enter and grow new markets outside of the UK.

The new grant has been developed under the Brexit Adjustment Reserve funding, negotiated by Ireland with the EU Commission to support impacted industries post-Brexit.

Welcoming the new initiative, Minister Coveney said, “In general, exports to the UK have remained resilient since 2019. This is in no small part due to the remarkable effort to prepare for Brexit by Irish businesses supported by agencies including Enterprise Ireland and Bord Bia. However, we are aware that there are certain companies and sectors for who the new trading relationship with the UK has resulted in a decrease in sales to that market. We want to help these companies to bring their products and services to new markets and to seek out new supply chain avenues. To do that effectively they need a strategic plan and this new initiative will provide them with the right tools and approach to thrive in new markets.”

Conor O’Donovan, Manager, Global Communications and Strategic Marketing with Enterprise Ireland said, “Enterprise Ireland has assisted companies prepare for Brexit and adjust to the new trading relationship with the UK. Our ambition is to help build export-focused Irish business, delivering growth and jobs across all regions.

The new Post-Brexit Market Growth & Diversification Grant, which provides companies with the expert insight and support they need to enter a new market, is critical to achieving that goal. This new initiative complements the other Brexit supports available through Enterprise Ireland’s Brexit Adjustment Initiative which provides practical, expert support on issues including strategic planning, marketing, innovation and competitiveness.”

Bord Bia is working with Enterprise Ireland to encourage Irish food exporters impacted by Brexit to avail of this new grant.

Speaking today, Bord Bia CEO Jim O’Toole said “Irish food and drink exports were valued at €16.6 billion last year. Given its scale and importance, the UK remains our top priority market, albeit operating alongside a clear market diversification strategy for product categories with over-dependence. This new grant will assist companies to develop a robust market diversification strategy and understand where to play and how to win. We look forward to working with our colleagues at Enterprise Ireland to deliver on this exciting new offering for our client companies.”

More information on the Post-Brexit Market Growth & Diversification Grant is available here.