Displaying items by tag: SupplyChains
Businesses Report Delays in Supply Chains Ahead of Expected Rise in Brexit Red Tape
According to a survey, almost four in 10 Irish businesses are reporting delays to their supply chain as a consequence of Brexit.
As The Irish Times writes, a substantial proportion of businesses have changed their export strategies ahead of an expected swelling of Brexit red tape over the next year.
The UK’s departure from the EU is already having a substantial impact on Irish businesses, according to professional services firm Grant Thornton, triggering concern that lead times will deteriorate further as a string of new border requirements are introduced from October onwards.
Some 37 per cent of the companies surveyed for Grant Thornton Ireland’s International Business Report indicated they were experiencing longer lead times in their supply chains, with 22 per cent needing to recruit alternative global suppliers and 21 per cent saying they had recruited alternative suppliers within Ireland.
Almost a fifth – 17 per cent – said they had outsourced or recruited people to deal with the additional bureaucracy, and 51 per cent identified Brexit red tape and regulations as a constraint to the growth of their company.
“It is likely going to get worse in the next 12 months, as the UK has been employing a light touch up to now,” said Jarlath O’Keefe, Grant Thornton Ireland’s head of indirect taxes.
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