Seafood companies hit by Brexit may qualify for a new grant to explore new markets outside of Britain.
Minister for Enterprise, Trade and Employment, Simon Coveney, has welcomed the initiative from Enterprise Ireland, designed to help Irish companies impacted by Brexit to explore international growth opportunities in new markets beyond Britain.
The “Post-Brexit Market Growth and Diversification Grant” offers eligible Enterprise Ireland and Bord Bia client companies access to a “fast-track strategic market development programme”.
The new grant has been developed under the Brexit Adjustment Reserve funding, the 1 billion euro fund negotiated by Ireland with the EU Commission to support impacted industries post-Brexit.
“In general, exports to Britain have remained resilient since 2019,” Coveney said.
“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,” he said.
“However, we are aware that there are certain companies and sectors for whom the new trading relationship with Britain has resulted in decreased 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 avenue,” he said.
“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,” he said.
To qualify, companies will have to demonstrate that they have suffered a 5% reduction in sale to Britain in 2020, 2021 or 2022 compared to 2019 levels.
The grant support will give companies an opportunity to avail of 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.
Companies must be clients of both Enterprise Ireland and Bord Bia
"Impacted companies in the seafood sector, where there is value add activity excluding primary production, may be eligible once they have demonstrated Brexit impact," an Enterprise Ireland spokeswoman said
To qualify, companies must complete a Brexit impact declaration form and submit their application by May 31st, 2023. Claims must be submitted by October 31st, 2023.
More information on the Post-Brexit Market Growth & Diversification Grant is available here.
Information on other Brexit supports under the Brexit Adjustment Initiative is available here.
This story was updated on April 6th 2023, to note companies must be clients of both Enterprise Ireland and Bord Bia.