53% of Irish businesses say exports have improved as a direct result of Brexit, new research shows.
The survey carried out by Expleo was published today on the fifth anniversary of the UK’s official departure from the European Union.
While over half of the companies surveyed have seen benefits over that period, 30% said Brexit has been harmful to their business.
Nearly half business and IT leaders said Brexit has made them more competitive as a business, however almost the same proportion feel it has made them less competitive.
Similarly, half believe it has positively impacted their supply chain, yet 41% feel it has had the opposite effect.
The research suggests that Brexit may be having a positive impact on talent shortages among Irish businesses, with 55% of Irish business leaders stating that they now have more access to talent.
In contrast, 38% said they have less access to talent.
While the research outlines some positive effects of Brexit, 60% of Irish companies surveyed said it has resulted in increased costs
Just 36% said it has resulted in decreased costs for their business.
“The reality of Ireland’s close economic ties with the UK has meant that regardless of mitigation plans, not all businesses have seen an upside,” said Phil Codd, managing director of Expleo Ireland.
“Whether they wanted Brexit or not, organisations across Ireland, as well as those in the UK, have had to adopt new ways of doing business.
“It is heartening to see that many businesses have been bold, embracing this challenge as an opportunity to flip the script and leverage it to pursue growth,” he added.
