Brexit may a have a number of implications for your construction business. And though uncertainty remains around the final shape of Brexit, there are a number of steps businesses can be taking to ensure they minimise any disruption to their operations.
UK bodies perform certification services for a large range of construction products placed on the EU market. If the UK leaves the EU without a deal, these UK bodies will no longer have the authority to issue certificates proving a product’s compliance with EU standards.
To avoid disruption and delays, you will need to take steps to ensure that your processes for certifying compliance with EU quality requirements and standards can continue post-Brexit.
The National Standards Authority of Ireland has prepared a useful construction factsheet that you can consult for further information.
The European Commission has also published a number of documents, which provide guidance in this area; including a Q & A on industrial products in the event of a no deal Brexit published in February and a Stakeholder Notice in the Field of Industrial Products published in January 2018.
Sterling and euro volatility is key concern and challenge for all Irish businesses across all sectors and markets, including the construction sector. Brexit may also have an impact on your business’ working capital needs.
Businesses are advised to assess their currency exposure and take steps to mitigate against any risks. You can check out the Government guide to Currency Risk Management for Irish SMEs to help your business assess and manage your currency exposure. Further guidance on managing working capital is also available on the Department of Business, Enterprise & Innovation's Getting Brexit Ready website.
There is also more information available on the range of Government Brexit Programmes, Funds & Supports. This includes a possible grant to secure some professional advice on currency management. You are also advised to contact your financial advisor, your accountant, or any professional bodies you are a member of to see if they have additional advice for you.
For more general information on other issues, such as banking or staffing, that may affect your business post-Brexit, please see Brexit and Business.
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