Belfast Telegraph

Business is booming 'but few planning for Brexit'

By Staff Reporter

Cross-border body InterTrade Ireland has said it's a "real concern" that most businesses on the island have no plan in place for Brexit.

InterTrade said that it was concerned over a lack of Brexit planning among firms - though most companies have said that business is buoyant.

Around 96% of firms told the body for its quarterly monitor that business on the island is either stable or growing.

And half of cross-border traders said they were experiencing growth. However, employment levels were static and were not growing in line with trade levels.

Only 7% of firms who trade across the border said that employment levels were up in the last quarter.

Aidan Gough, strategy and policy director at InterTradeIreland, said: "A buoyant economy should not distract from the need to confront and prepare for challenges that lie ahead especially in terms of dealing with rising costs, skills shortages and potential changes to trading relationships. Our latest Business Monitor shows that more than 70% of businesses are operating on very tight margins (below 10%) and therefore carry a high exposure to rising costs."

Belfast Telegraph

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