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Bord Bia And PwC Develop 'Brexit Barometer' For Roadshow

Published on Mar 24 2017 12:30 PM in Food tagged: Bord Bia / PWC / Brexit / Brexit Barometer

Bord Bia And PwC Develop 'Brexit Barometer' For Roadshow

Bord Bia in conjunction with PwC Ireland have developed the 'Brexit Barometer' which is a tool to measure the impact on food exports, which they are planning to take on a roadshow, according to a statement it issued today (22 March.)

It was officially launched by Michael Creed, Minister for Agriculture, Food and the Marine.

According to the statement following Theresa May’s announcement to trigger Article 50 on March 29th, the initiative will see 14 Bord Bia sector managers travel across the country to conduct face to face in-depth analyses of the likely impact of Brexit on individual businesses.

At the launch Creed TD said “With the triggering of Article 50 in sight it is timely that I launch this new Brexit support initiative, which I encourage all food exporters to engage with as much as possible. Since the Brexit referendum my Department has provided Bord Bia with €3.6 million in additional funding to develop new innovative proposals such as the ‘Brexit Barometer’.

"We remain focused on delivering continued support to the industry, helping it to defend its position in the UK and Europe, our most traditional markets that still account for 65-70% of all exports while diversifying into new international markets that offer huge growth potential. Undoubtedly there are challenging times ahead in the UK but there is resilience in the relationships that our food producers have with retailers and buyers.” Creed added.

Reportedly, the Brexit Barometer includes 100 questions across six specific risk areas – Routes to Market, Customs and Tax, Supply Chain, Trade, Currency and Human Resources.

Tara McCarthy, Chief Executive Bord Bia said she felt a bespoke approach was necessary. she explained, “We know Brexit will affect every sector and every company in a different way. Detailed feedback from our pilot ‘Brexit Baromoter’ programme, combined with extensive ongoing dialogue with our client companies, has provided Bord Bia with a unique insight into the industry's concerns. It is with this insight in mind that we developed the this tool to urge exporters conduct a comprehensive cross-functional analysis of all potential scenarios.

"The impacts of Brexit will reach into almost every aspect of our food, drink and horticulture businesses and we are aware there is no one solution that fits all and it is one the responsibility of any one person or department." She added.

In 2016, Ireland exported €4.1 billion worth of food, drink and horticulture products to the UK market, representing 37% of our total exports.

© 2017 - Checkout Magazine by Donna Ahern

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