Source: 11% of SMEs considering relocation to UK
A survey of 1416 member companies of ISME (Irish Small and Medium-sized Enterprises Association has shown that 11% are considering relocation of up to half of their business to the UK.
As previously noted on Brexit Border Blog, there is an imbalance in mainstream media reporting on the issue of Brexit relocation. Banks and insurance companies from the City of London moving to Dublin’s docklands to keep a foot in the EU get a lot of attention while a steady drift in the other direction of small manufacturers with complete dependence on the UK market goes unremarked. We spoke to several such firms during our Frontline Project.
The ISME survey identified about 150 companies but that is no measure of its significance. As ISME CEO Neil McDonnell makes clear in a ‘health warning’, “Today’s results come with a caveat. Around two thirds of ISME members are based in services industries, compared to 54% of total enterprises (according to the CSO). We believe that the Services, Financial and Insurance sectors on aggregate will have a lower level of direct exposure to Brexit-related impacts than will the Industrial, Construction and Distribution sectors.”