A new State-backed grant has been introduced to help Brexit impacted Enterprise Ireland and Bord Bia client companies enter into new markets.
The Post-Brexit Market Growth and Diversification grant was formed to reduce reliance on Ireland’s closest exporting market and to also expose Irish firms to other areas where they can develop.
“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,” said Minister for Enterprise, Trade and Employment Simon Coveney.
“We want to help these companies to bring their products and services to new markets and to seek out new supply chain avenues,” he added.
In general though, exports to the UK have remained resilient since 2019.
“Irish food and drink exports were valued at €16.6bn 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,” said Bord Bia CEO Jim O’Toole.
The new grant has been developed under the Brexit Adjustment Reserve funding and negotiated by Ireland trade representatives and the EU Commission to support impacted industries post-Brexit.
Eligible companies for the grant have to demonstrate that they have suffered a 5% reduction in UK sales in 2020, 2021 or 2022 compared to 2019 levels.
The grant will allow successful applicants to receive up to 50 days of consultancy in developing a new market plan. The grant will be provided at a rate of 80% subject to a maximum grant of €36,000.
Firms that want to apply must complete a Brexit impact declaration form and submit their application by May 31. Claims must be submitted by 31st October 2023.
“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,” said Conor O’Donovan, manager, global communications and strategic marketing with Enterprise Ireland.
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