The Small Firms Association (SFA) has called on the UK to ‘vote remain’ in tomorrow’s Brexit referendum, which will decide whether or not the UK will remain as part of the EU.
Expressing the concerns of Ireland’s small business community, Assistant Director of the SFA, Linda Barry said, "The connections between the Irish and British economies are as deep as they are wide. Trade between the two countries directly supports over 400,000 jobs – half of them in Ireland.
"For small Irish businesses looking to expand, the UK is often their first export market and 43% of exports from indigenous Irish companies are destined for the UK.
"The UK is a strong voice for free trade, reduction in red tape and other pro-enterprise policies at EU level. For all of these reasons, it is in the interests of the Irish small business community that the UK remains in a reformed EU."
She added that the Brexit issue brings uncertainty to many Irish companies, with the prospect of the UK leaving the EU raising concerns over cross-border trade arrangements, which risk not being settled for years.
"Small firms do not have the same degree of mobility, flexibility and diversification that may help larger businesses to navigate the risks posed by a UK exit from the EU," Barry continued.
"Small businesses may be dependent on a UK supplier, investor or market, which means that their very survival hangs in the balance."
She concluded by saying that the referendum has already had a significant impact on exchange rates, and that uncertainty has only pushed the value of the sterling lower, which has increased the competitive pressures on Irish exporters.
"If the UK votes to leave, this effect will intensify. For the good of Irish small firms and the economic relationship between Ireland and the UK, the SFA urges voters in the UK, both Irish and British, to vote ‘remain’ on Thursday."
© 2016 - Checkout Magazine by Jenny Whelan
