Industry & Business

SFA warns of threat to Irish jobs from Brexit

SFA warns of threat to Irish jobs from Brexit

SFA warns of threat to Irish jobs from Brexit
March 21
09:11 2016

The Small Firms Association has warned that if Britain decides to leave the EU it will pose a huge risk for small businesses in Ireland.

The SFA has said that thousands of jobs could be put at risk if the UK votes to leave the EU in a referendum on the the 23rd of June.

Linda Barry, SFA assistant director said: “Small firms do not have the same degree of mobility, flexibility and diversification that may help larger businesses to navigate the risks posed by a UK exit from the EU.

“Small businesses may be dependent on a UK supplier, investor or market, which means that their very survival hangs in the balance.”

Trade between the UK and Ireland directly supports 400,000 jobs – half of which are in Ireland, the SFA said.

“The looming referendum is already having a significant impact on exchange rates. Uncertainty has pushed the value of sterling lower, increasing the competitive pressures on Irish exporters. If the UK votes to leave, this effect could intensify.”

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