LIMERICK businesses are being advised to prepare for the worst ahead of Brexit.
The UK had been due to leave the European Union on October 31st, however, the deadline has now been extended until January.
Fine Gael Senator Maria Byrne is issuing advice for a no-deal Brexit scenario as many imports come via the UK.
“In a no-deal Brexit, local customers could face significant price increases to cover potentially non-reclaimable UK VAT at 20%, import duties, customs, additional certification requirements and logistical delays,” she warns.
Senator Byrne’s advising business owners to avail of supports that exist to help smooth any transitions over the coming months.
“Businesses in the Limerick area can prepare for Brexit by working closely with Guaranteed Irish in a bid to safeguard jobs in their local communities and prepare necessary plans to meet the challenge of Brexit.”
Meanwhile, CEO of Guaranteed Irish, Brid O’Connell says it’s important that businesses become a member of a network during times like these.
“By being a part of the network, events such as breakfast briefings offer a platform for all businesses – homegrown and international – based in Ireland to network and gain a competitive advantage,” Brid explains.
“We need to support those businesses who aspire to that.
“We hope that the expertise provided by [us helps] to shed light on the concerns and challenges facing businesses across a variety of industries in Limerick and the Mid-West.”