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Little Over 5% Of Cross-Border Traders Prepared For No-Deal Brexit

Published on Aug 26 2019 10:50 AM in Supply Chain tagged: Trending Posts / UK / EU / Brexit / InterTrade / Cross-Border Traders

Little Over 5% Of Cross-Border Traders Prepared For No-Deal Brexit

Just 6% of cross-border traders are prepared for cash flow and liquidity issues in the event of a no-deal Brexit.

This is according to the latest figures from InterTradeIreland’s survey reveal, only 6% of cross-border traders have examined the possible legal implications on business contracts if the United Kingdom leaves the EU.

The survey results have come in as InterTradeIreland launches a new campaign to encourage cross-border traders to plan for Brexit.

“Ignoring Brexit is a bigger issue than not preparing for it,” Aidan Gough, InterTradeIreland’s Designated Officer and Director of Strategy and Policy, said.

“Failing to take into account how it may impact your business could be very detrimental down the line. We want to reach as many SMEs as possible to help them prepare.”

Elephant In The Room

According to InterTrade, there are not enough people talking about the “elephant in the room”, adding that Brexit has become too big to brush under the carpet.

“InterTradeIreland is also expanding its offering to include “Bitesize Brexit”, a new online space that is a one-stop-shop for cross-border traders,” Gough explained.

“As the name “Bitesize Brexit” would suggest, all of the information is in a very digestible format and includes specific actions that businesses can take now, to prepare for Brexit.”

There are approximately 20,000 cross-border traders on the island of Ireland, a substantial proportion of these are micro-businesses which would be particularly vulnerable to changes in current trading arrangements.

© 2019 Checkout – your source for the latest Irish retail news. Article by Aidan O’Sullivan. Click sign-up to subscribe to Checkout.

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