Local firms present at export report launch

 

A new research report from InterTradeIreland has taken an in-depth look at small firms participating in cross-border exporting, with the findings seen as useful in how Brexit will impact SMEs.

Local Cavan companies represented at the event included; Abcon Engineering, manufacturer of Abrasive Belts and Quick Change Discs in Cootehill, and Clonarn Clover, free range egg farming company in Mullagh.

Launching the report at a meeting with local companies from Cavan, Monaghan, Louth and Newry in InterTradeIreland’s offices in Newry was Pat Breen TD, Minister for Trade, Employment and Business. He welcomed the report, saying: “This report highlights the vital importance of cross-border trade to small firms that are the backbone of the Irish economy. I would like to once again commend InterTradeIreland for the very important and valuable work they do in supporting businesses in their cross-border export endeavours.”

The key findings include that exporting firms including cross-border traders have better outcomes across a range of key indicators including turnover, employment and productivity. Expanding participation in exporting can therefore make an important contribution to the performance of the economy.

Micro and small firms meanwhile continue to play a significant role in cross-border trade. Support for their expanded export participation could help underpin economic growth.

Cross-border trade also has features closer to local trade than to international export activity, suggesting many firms treat the island as their local market and functional economy.

IntertradeIreland’s Designated Officer and Director of Strategy and Policy, Aidan Gough stated: “Overall the work suggests that the impacts of any changes in the cost of trading post-Brexit are liable to be felt most particularly by very small firms trading across the border. Firms large enough to already have expanded broadly into the EU market are more likely to have the resources and scale to continue exporting either in their current markets or by diversifying into alternative locations.”