Firms face existential challenge in NI over no-deal Brexit

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Secretary of State Julian Smith was among those present as Trade NI launched its 10-year plan Vision 2030 at Westminster on Wednesday.

The head of one of Northern Ireland’s largest business banks has warned a no-deal Brexit would cause an “existential” challenge for companies.

The region is already dealing with limited economic growth, and the largest trade delegation from Belfast ever to visit Westminster has published a 10-year plan it says will create 65,000 jobs.

The alliance of retailers, the hospitality industry and manufacturers expressed concern at uncertainty surrounding Brexit and the prospect of no-deal.

Kevin Kingston, chief executive officer of Danske Bank UK, said: “When you move down to the smaller businesses it becomes much more difficult, some of them are facing an existential challenge and it is very hard to plan for outcomes when it is that fundamental to your business model.

“For the smaller businesses, I don’t think they are ready (for no deal) but I am not saying that as a criticism, I am saying that is a cold, hard reality of the challenges they face.

Read More at https://www.belfasttelegraph.co.uk/business/northern-ireland/firms-face-existential-challenge-in-ni-over-nodeal-brexit-38487533.html

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