DUBLIN, Aug. 5 (Xinhua) -- A survey shows most of the companies on the island of Ireland are not prepared for a no-deal Brexit, local media reported on Monday.
The report quoted the survey, released by InterTradeIreland in its Q2 2019 Business Monitor, as saying that only 11 percent of the respondents interviewed say that they have made preparations in the event of a no-deal Brexit.
Of all the cross-border traders surveyed, 82 percent of them say they have not prepared for the no-deal outcome though such companies are most exposed in the event of a no-deal Brexit, according to the survey.
Bigger firms tend to be more prepared for no-deal Brexit than smaller ones, says the survey, adding that 35 percent of bigger companies with more capacity say that they have made preparations while only one in ten micro businesses say they have made any preparations.
The survey also finds that 45 percent of all the businesses interviewed and almost 60 percent of the companies from the manufacturing sector say that they view Brexit as a key challenge they face.
Nevertheless, the survey reveals that most of them have made no preparations for the no-deal scenario of Brexit, said Aidan Gough, Director of Strategy and Policy at InterTradeIreland.
"This disparity between businesses recognizing Brexit as the key issue facing them and the number actually preparing for it remains a worry," said Gough.
InterTradeIreland is an organization jointly funded by the governments of Ireland and Northern Ireland to help small businesses on both sides to explore cross-border markets.
