Small and medium-seized businesses are being urged to “act now” to prepare themselves for a no-deal Brexit.
It’s after a warning today from the Central Bank of major job losses over the next two years, if the UK leaves the EU without a deal on October 31st.
The Bank predicts a disorderly Brexit would result in economic growth slowing down from 4.3 per cent to just zero point eight per cent next year, along with 73,000 fewer jobs by the end of 2021.
It says the broader SME sector, along with agriculture and food, will suffer the worst effects of a no-deal Brexit.
Neil McDonnell, CEO of the Irish Small and Medium Enterprises Association, says time is running out for businesses to prepare: