Ireland well placed to profit from Brexit

IN BUSINESS success is far more likely when energies are channelled into assessing probabilities, not certainties. Despite the many imponderables concerning Brexit we still maintain power over how we respond. As pointed out by patron of the British Irish Chamber of Commerce Niall FitzGerald in these pages today, Brexit will affect everything here, and not just at the Border.

With so many unanswered questions, much of the focus has been on potential obstacles and pitfalls: there is little point in pretending they do not exist. However, hyper-anxiety must not distract us from the opportunities.

As Mr FitzGerald sees it, if we develop our proven record of innovation and creativity to navigate the future, we can be in a good place to adapt to – and profit from – fertile new horizons. All depends on cultivating an appetite for reaching beyond our grasp and expanding ambitions. This involves, as he puts it, “fostering a national strategy” – one flexible enough to exploit the new paradigm’s potential.

This pre-supposes that we have the vision to scale up and supply the necessary infrastructure and skill-sets. The rewards could be significant. British firms will need an assured EU presence for the future and Ireland is the ideal choice for many of them, as Mr FitzGerald explains. He points to our thriving food sector as one area of strength. As if to make his case, Larry Goodman’s ABP has just signed a €50m beef contract to supply a Chinese restaurant chain in what will be a first for the sector here.

New doors are there to be opened and old ones should not be closed. Mr FitzGerald recommends that Ireland maintains its strong commitment to the EU, but we can also benefit from a prosperous and thriving UK.

The balance of risk and reward can be handled with the right perspective.