Aidan Gough, Director at InterTradeIreland, said: “This report shows the disproportionate importance of cross-border trade for businesses across the island. The high degree of connectivity in supply chains, which the report underlines, shows the importance of firms planning for a number of post-Brexit scenarios. Now is not the time for complacency or apathy in relation to Brexit.
“All companies in Northern Ireland should ask themselves key questions about where they buy their supplies from, as well as where and how they sell their products. An easy way to get started is to access help and support from InterTradeIreland’s Brexit Advisory Service.”
Companies that trade across the border were also revealed to be more likely to introduce new goods and services, with 35 per cent introducing products for just one year.
“The integrated nature of the supply chain and strength of cross-border trading relationships means that for many firms, the all-island economy becomes a ripe test-bed for new product innovation. There are fewer barriers to innovation because of previous supply chain knowledge and experience of bringing a product to market,” Aidan added.
For further information on funding and advice available visit http://www.intertradeireland.com/researchandpublications/
Ken Nelson, InterTradeIreland Chairman; Kerry Curran, InterTradeIreland Policy and Research Manager and Aidan Gough, Director InterTradeIreland.