The Institute of Directors (IoD) in Ireland has this afternoon reacted to the presentation to Cabinet of the ‘Contingency Action Plan Update’ for Brexit by An Tánaiste, Mr Simon Coveney.
The IoD, which represents 3,000 directors and senior business leaders, has been tracking business sentiment with regard to Brexit on a quarterly basis in its Director Sentiment Monitor membership surveys.
Maura Quinn, CEO of the Institute of Directors in Ireland, said:
Senior business leaders and directors believe Brexit is the single biggest risk factor facing their organisations. That has been a consistent finding in quarterly surveys of our membership. Crucially, 60% of respondents in our most recent survey have also noted that Brexit uncertainty has impacted their organisations’ strategic planning, so any initiative that enhances contingency planning for different Brexit scenarios is to be welcomed.
Maura Quinn added:
Despite Brexit uncertainty, the work of business leaders in Ireland to prepare for Brexit is reassuring, with over 71% citing that they are sufficiently prepared for Brexit. In light of Minister Coveney’s ‘Contingency Action Plan Update’, we urge the government to continue supporting businesses through this Brexit uncertainty to ensure business leaders in Ireland can continue to run their businesses in a way that delivers for both their customers and the Irish economy.