Brexit loan scheme

A new Brexit loan scheme has been introduced by the Minister to assist SMEs with the impact of Brexit over the coming years. A loan scheme of up to €300 million will be made available to SMEs at competitive rates, with particular focus on the food business industry given the sector’s close links to the UK market. This new loan scheme intends to provide SMEs with time to develop and change as necessary so that they can continue to grow their businesses in the post-Brexit market.

Increased funding

The hiring of an additional 40 staff members across the Department of Business, Enterprise and Innovation and agencies in 2018 has been announced. Their main focus will be on realising and responding to opportunities and challenges arising from Brexit.

Funding for the Department of Agriculture, Food and the Marine will be increased to €64 million. Of this, €25 million will be provided to develop further Brexit loan schemes for the agrifood sector, separate to the Brexit loan scheme mentioned above. These measures aim to strengthen the sector’s ability to meet the challenges of Brexit.