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InterTradeIreland’s range of Brexit supports and funding will help businesses manage the challenges ahead

The trading relationship between the UK and the EU changed on 1 January 2021 when the Brexit transition period ended. InterTradeIreland’s recent all-island Business Monitor survey (Q3 2020) shows that 44% of small business owners across the island predict that Brexit will have a negative impact on their business over the next year, yet only 18% of firms have plans in place.

InterTradeIreland recognises the challenges many businesses have had to face in 2020 as a result of the Covid-19 pandemic. However, not being ready for Brexit is not an option. Businesses need to take action now to prepare for the new trading environment.

Whatever stage you are at with your Brexit preparations, InterTradeIreland has a range of Brexit supports available to help you and your business tackle the potential challenges ahead.

Preparing Your Business for Brexit

Follow these five essential steps to help you and your business adjust to Brexit.

In Association with

1. Supply Chain

• Firstly, understand your trade flows and map your supply chain. Speak to your suppliers about their post-transition period arrangements and familiarise yourself with Incoterms (International Commercial Terms).

• Consider the impact of change in the exchange rate and supplier payment schedules, and make sure you review your contracts to protect your supply chain.

2. Customs

• You will need to register for an EORI Number. You can do that through revenue.ie.

• You will need to identify your Commodity Code, which you can do using our guide. Visit brexit2020.intertradeireland.com.

• You will need to understand your trade flows and identify your customs requirements. Find out what’s needed to complete customs formalities and decide who will complete them.

• Finally, study the Brexit Readiness Checklist on enterprise.gov.ie/en/. This checklist highlights some of the key actions that businesses can take to prepare for the changes Brexit will bring about in relation to customs, product compliance ad supply chain amongst others. It also includes links to the relevant agencies providing additional guidance and support.

3. People

• Make sure you are clear about how the EU Settlement Scheme affects you, your business and your employees. Our Guide to People (brexit2020.intertradeireland.com) tells you all you need to know. You will also find details on the post-Brexit immigration scheme, salary caps, what’s changing in 2021 and more.

4. Data

• If your business involves the transfer of personal data across the border, you’ll need to ensure sufficient safeguards are in place so you can continue to transfer data after the transition period. This may include introducing Standard Contractual Clauses (SCCs) to your data arrangements.

5. Updates

• You will need to stay up to speed as changes emerge during the transition period. You can register for our updates on brexit2020.intertradeireland.com.

Brexit Funding

Voucher support is also available to help you understand the Brexit’s impact on your cross-border business. InterTradeIreland’s Planning Voucher provides 100% financial support up to €2,250/£2,000 (inclusive of VAT) towards professional advice tailored to your business to help you to identify Brexit exposure and to plan. See intertradeireland.com/brexit/funding

Wherever you are with your Brexit plans, InterTradeIreland will keep you informed as changes emerge and continue to offer support and advice to cross-border traders via our dedicated Brexit Advisory Service team. Find out more at intertradeireland.com/Brexit or get in touch by emailing brexit@intertradeireland.com.