Feature Article
Supporting Irish Businesses Preparing for Brexit
By Carol Lynch, Partner BDO
 
By Carol Lynch, Partner BDO
By Carol Lynch, Partner BDO
With Brexit talks now at crisis point and a future possible trade agreement in doubt most businesses are looking at what new structures they need to put in place to deal with the UK outside of the EU.
 
The worry is that Brexit might happen as early as 29th March 2019 and in this context we are advising businesses to adapt a “no regrets” policy.

We are finding that critical concerns surround the ability of businesses to continue to trade with the UK and the complexities which surround buying and selling in a non-EU market. Distribution chains are going to be seriously affected with businesses who were set up to buy and sell within the Single Market now having to plan to deal with Customs for the first time, incorporate VAT into their contracts and look at the need for having an EU base (for GB/ NI businesses) or a GB/NI base for ROI businesses. HMRC have identified this as a particular issue for businesses who will be lodging Customs Declarations for perhaps the first time.
 
The difficulty for businesses however is establishing what minimum requirements should be in place should March 2019 happen.

 

Working with our clients we have identified the following as the key requirements that businesses need assistance with right now:

  1. Customs Advice on WTO Rates
  2. Assessment of Customs Compliance costs
  3. Understanding Border Controls
  4. Review of contracts and terms of trade
  5. Should you obtain a UK Vat registration? Are you legally obliged to?
  6. Should a new company be established in NI or GB?
  7. Should you be tax registered in the UK?

 

Brexit Strategy Analysis
All of the above issues lead into the requirement to complete a Brexit Analysis report, analyse the costs associated with trading post Brexit and identify and prioritise the means for reducing these costs.  

 

 

Support with Grant and Loan applications for Brexit planning.

Identifying the key risk areas, establishing a time line to ensure you have all necessary authorisations in place and implementing the required solutions to Brexit Proof against a worst case March 2019 exit can be complex and time consuming.

 

There are a number of grants and loans available from Government Bodies, Support Agencies and the Banks. We can guide you through this process to ensure you can defray some of the costs involved in planning, innovating and continuing to sell in the UK market.

 

We would advise that as most restructuring and planning requires a minimum 6 month lead- in this work needs to be carried out now to be prepared for a worst case scenario of a UK deadline of March 2019.

For further information contact:

 

Carol Lynch

 

clynch@bdo.ie

 

Direct: +353 1 470 0491

BDO

Beaux Lane House

Mercer Street Lower

Dublin 2

Tel: +353 1 470 0000

Fax: +353 1 477 0000

 

www.bdo.ie

 

About Carol Lynch
Partner


Carol is a Partner at BDO Customs and International Trade Services. Carol has more than 25 years’ experience in customs and international trade.

 

Carol is currently heavily involved in advising clients on the impact of Brexit and is working with a number of high profile companies in this regard.


She has been requested to present to the Oireachtas Finance Committee on the impact of Brexit for traders in Ireland and also presents on behalf of Chambers Ireland and InterTrade Ireland. She is part of a number of working groups including that of the British Irish Chambers of Commerce and the Revenue Commissioners. She contributes to various media (print and radio) with regard to the Customs issues which may arise post Brexit.

 

Carol has significant expertise in customs, excise, export controls, anti-dumping, audits and investigations. She also has significant experience working with clients in the aviation and aircraft leasing, food and drink, pharmaceutical companies, consumer electronics and software sectors along with general manufacturing.

 

 

 

Enterprise Europe Network Annual Conference Vienna
 

Enterprise Europe Network (EEN) Annual Conference took place in Vienna this week. The conference provides a global forum for EEN partners, representatives from European institutions as well as key stakeholders to meet and learn from each other, and to improve the quality and collaboration of EEN services. The conference brings together over 800 participants from more than 60 countries.  

To learn more about how EEN can help your business, click here.


The conference brings together 800 participants from more than 60 countries. The three-day event programme features workshops, plenary sessions, networking opportunities and social events.

The EEN Awards will be one of the highlights, putting EEN clients and their stories in the spotlight. Agenda topics will range from issues such as innovation management, access to finance, digitalisation, and internationalisation to sessions designed to ensure more and better impact from EEN as a whole.

The conference was held in the framework of the Austrian Presidency of the Council of the EU.

#EENCanHelp #EENIS10 #EEN18

 

More News
Annual Trade Mission to Hong Kong (13th- 18th January)
 

New direct flights between Ireland and Hong Kong open up many new opportunities for Irish firms. The purpose of our annual mission to Hong Kong is to identify new opportunities for companies in the lucrative Asian Market.  

 

The mission is organised by Dublin Chamber and The Ireland Hong Kong Business Forum in partnership with the Consulate General of Ireland to Hong Kong and Macau and Hong Kong Trade Development Council. 


The Ireland Hong Kong Business Forum is pleased to announce expressions of interest for the annual mission to Hong Kong (January 2019) as now open. This year marks the first time a direct flight from Dublin to Hong Kong is in operation, which makes the prospect of long distance travelling  less daunting for delegates. Increased connectivity between Hong Kong and Ireland will mean the opportunities that exist in Hong Kong, the Pearl River Basin and indeed in Asia are set to increase exponentially.  Last year, 22 representatives from Irish companies and semi state bodies travelled  to Hong Kong on this mission which included high level networking events organised by and  one-to-one meetings with companies based in Hong Kong. As part of the mission, Hong Kong Trade and Development Council (HKTDC) provided dedicated advisory services and tailored B2B matchmaking services. Delegates were also given the option of a day trip to visit either Shenzhen or Macau, depending on their sector of interest. 

Contact valentina@dublinchamber.ie to reserve your place. 

Mission highlights:

  • Market briefing roundtable on Hong Kong Market
  • Sector specifics seminars ( Smart tech, ICT, Finance, Fintech; Tourism, Food & Bev)
  • Site visits to local companies including Crown Worldwide Group and Cyberport
  • Assistance setting up targeted meetings with potential partners
  • Networking reception at Consulate of Ireland with Irish Minister & Consul General of Ireland to Hong Kong
  • Day trip and market briefing in Macau for those operating in Food & Bev and Tourism sectors to hear about opportunities there, followed by networking lunch with key local contacts
  • Day trip to Shenzhen for those operating in ICT & Fintech sectors, including planned visits to Huawei, Tencent
  • Admission to the Asian Financial Forum (usual ticket cost $1300 (first come, first served basis)  

Mission cost: €700 including all above elements, one dinner and two  lunches

Join us today!

Dublin Chamber at International Markets Week 2018
 

Last week Dublin Chamber's International Department were in attendance at International Markets Week 2018 in the RDS with more then 650 Irish exporters. The team were out speaking to Irish SMEs about the Enterprise Europe Network and its benefits, how to get the right support and to create successful trade. 


The Enterprise Europe Network at Dublin Chamber offers support and advice to SMEs in Leinster, helping you to make the most of business opportunities beyond Irish and European Union borders.


Our services include a free international partner sourcing service, advice on new markets, advice on access to finance & funding, advice on EU legislation, and networking opportunities with international trade missions.

 

More than 150 international Market Advisors from Enterprise Ireland’s 33 overseas offices will be in Ireland to participate in over 2,100 meetings, advising Irish companies on global export opportunities and how to diversify into new markets in response to Brexit.

 

Helping Irish businesses diversify into new markets is a key Brexit response and one of the ways Enterprise Ireland is helping exporters increase their global footprint. According to the results of the Enterprise Ireland survey of companies attending International Markets Week, more than four out of five (84%) plan to diversify into new international markets, while almost one in three (32%) will continue to expand into the UK.

 

For more information click here.

Catalonia Trade Clinics (15 November) Consultations
 

Catalonia and Ireland are two solid economies with dynamic ICT Sectors. Whilst Dublin hosts world-renowned ICT corporations, Barcelona has become a leading tech hub in Europe, home to a bourgeoning ICT ecosystem of around 12,800 companies and 1,100 start-ups, employing more than 84,600 highly skilled workers.


Xavier Bardají from Catalonia Trade & Investment will be in Dublin to meet Irish companies with an interest in expanding their European presence through a base in Catalonia. CT&I provides support on market information, location services, business and technological partners, incentives and recruitment etc, on a free of charge and confidential basis.

 

Date: 15th November

Time: 9am- 12pm

Venue: Dublin Chamber, 7 Clare St, Dublin 2

 

Book Now

For any queries, please contact valentina@dublinchamber.ie

 

Catalonia and Ireland are two solid economies with dynamic ICT Sectors. Whilst Dublin hosts world-renowned ICT corporations, Barcelona has become a leading tech hub in Southern Europe, home to a bourgeoning ICT ecosystem of around 12,800 companies and 1,100 start-ups, employing more than 84,600 highly skilled workers.

 

Between 2010 and 2016 a total of 118 ICT FDI projects landed in Catalonia. Catalonia is the second region in terms of number of ICT projects and job creation, and the third in terms of capital investment, in the whole of Southern Europe.

The Trade Clinic welcomes companies from sectors with a particular interest in Catalonia, including: Technology, Food, Life Sciences, Logistics, Chemical, and Automotive.

Looking to Export?
 

The Export & Consular department based in Dublin Chamber are experts when it comes to helping companies to get goods shipped abroad, to register products in export markets and to visit export customers.


Dublin Chamber’s experienced staff organise the legalisation of documents for international trade, legal or commercial requirements and inter-country adoptions. Our couriers go on a daily basis to the Department of Foreign Affairs, the Supreme Court, the Joint Arab Irish Chamber of Commerce and any necessary Embassy in Dublin as well as to London based Embassies and the British Foreign and Commonwealth Office to ensure that your documents have all the necessary stamps and seals for full compliance to international regulations. We also offer advice on the requirements for each country. Our fast and efficient service ensures prompt processing of your vital documents.

 

 

The Export & Consular offers a wide range of services including:

•             Certificates of origin issued and stamped

•             Certification of export documentation

•             ATA Carnets, for the temporary export of goods, issued,

•             Legalisation of export and regulatory documentation,

•             Visas for your business travel needs.

 

 

Export Services – We make getting goods shipped broad easy.

 

For further information on any of the above services please contact:

Richard Brown (01 644 7204 / richard@dublinchamber.ie)

Aleksandra Balcerzak (01 644 7205 / aleksandra@dublinchamber.ie)

New EU rules for a better protection of workers from exposure to dangerous substances.
 

Employment Committee MEPs and the European Council introduced a new development to further lower the risks for workers exposed to carcinogenic and mutagenic substances.


The negotiators agreed on the European Commission proposal to add diesel fumes to the list of harmful substances and to set the exposure limit values for eight additional cancer-causing substances. 

 

For further information, see the press release  of the European Parliament

Get more advice about work-related cancer prevention