Post-Brexit Market Growth & Diversification Grant will help accelerate the growth of Irish in international markets.
A new initiative from Enterprise Ireland will help Irish companies impacted by Brexit to explore international growth opportunities in markets outside the UK.
Under the new offer – called the ‘Post-Brexit Market Growth and Diversification Grant’ – eligible Enterprise Ireland and Bord Bia client companies can access a fast-track strategic market development programme that will assist them to develop a strategy to enter and grow new markets outside of the UK.
“There are certain companies and sectors for who the new trading relationship with the UK has resulted in a decrease in sales to that market”
The new grant has been developed under the Brexit Adjustment Reserve funding, negotiated by Ireland with the EU Commission to support impacted industries post-Brexit.
“In general, exports to the UK have remained resilient since 2019,” said Minister for Enterprise, Trade and Employment Simon Coveney, TD, welcoming the new grant.
“This is in no small part due to the remarkable effort to prepare for Brexit by Irish businesses supported by agencies including Enterprise Ireland and Bord Bia. However, we are aware that there are certain companies and sectors for who the new trading relationship with the UK has resulted in a decrease in sales to that market.
“We want to help these companies to bring their products and services to new markets and to seek out new supply chain avenues. To do that effectively they need a strategic plan and this new initiative will provide them with the right tools and approach to thrive in new markets.”
How to qualify
To qualify companies will have to demonstrate that they have suffered a 5% reduction in UK sales in 2020, 2021 or 2022 compared to 2019 levels.
The grant support will see companies receive up to 50 days of consultancy in developing a ‘go to market’ plan. The grant will be provided at a rate of 80% subject to a maximum grant of €36,000.
To qualify, companies must complete a Brexit impact declaration form and submit their application by 31st May 2023. Claims must be submitted by 31st October 2023
More information on the Post-Brexit Market Growth & Diversification Grant is available here.
Robust market diversification strategies needed
Bord Bia is working with Enterprise Ireland to encourage Irish food exporters impacted by Brexit to avail of this new grant.
“Irish food and drink exports were valued at €16.6bn last year,” said Bord Bia CEO Jim O’Toole. “Given its scale and importance, the UK remains our top priority market, albeit operating alongside a clear market diversification strategy for product categories with over dependence.
“This new grant will assist companies to develop a robust market diversification strategy and understand where to play and how to win. We look forward to working with our colleagues at Enterprise Ireland to deliver on this exciting new offering for our client companies.”
Conor O’Donovan, Manager Global Communications and Strategic Marketing with Enterprise Ireland added: “Enterprise Ireland has assisted companies prepare for Brexit and adjust to the new trading relationship with the UK. Our ambition is to help build export-focused Irish business, delivering growth and jobs across all regions. The new Post-Brexit Market Growth & Diversification Grant, which provides companies with the expert insight and support they need to enter a new market, is critical to achieving that goal.
“This new initiative complements the other Brexit supports available through Enterprise Ireland’s Brexit Adjustment Initiative which provides practical, expert support on issues including strategic planning, marketing, innovation and competitiveness.”