Businesses consider 'dual location' after EU exit as concerns take hold
A large number of firms in Northern Ireland have considered setting up or expanding operations in the European Union to overcome concerns around Brexit, it has been claimed.
The overwhelming majority of firms at an Institute of Directors (IoD) event on Brexit said they had given serious consideration to having a 'dual location' to meet the challenges of the departure of the UK from the EU.
Many were concerned about a potential shortage of skills if EU nationals depart after Brexit.
Respondents rated trade and export their greatest concerns, with 80% having considered additional premises in the EU to ease trading with the bloc. It also found that 40% were not at all prepared for Brexit, while 20% had started planning for alternative scenarios. One-third were having Brexit-related discussions with customers and suppliers.
IoD NI director Linda Brown said: "There is a great desire among businesses across the economy to find some certainty around Brexit as they aim to show leadership to their staff, and in their sectors broadly.
"It is important that directors continue to engage in conversations as the Brexit debate evolves.
"As an organisation, we seek to provide a strong voice so the views of the business community are heard by those involved in the negotiation."