Local business must engage withBrexitnow ALDI ANNOUNCES 33 JOBS ACROSS WICKLOW
A WICKLOW financial advisor has warned that now is the time for businesses who have not fully engaged with Brexit to do so.
According to Tom Doyle, partner at Ifac’s Wicklow office, time is ticking by, and food businesses in particular must put plans in place to offset the worst impacts of Brexit.
‘In Ifac, the farming, food and agribusiness professional services firm we’re very conscious that it’s a challenge for many SMEs to allocate time to an issue which, up to now, many believed might go away. Nobody can rely on this ‘hope’ anymore and it’s time for action. The first step is appointing a Brexit team leader – that could be the CEO in a small organisation or the financial controller in a bigger organisation. It’s not this person’s job to do the work, but they are responsible for bringing together the cross-functional team to work out the Brexit to-do list,’ says Mr Doyle.
Ifac has compiled a list of actions which businesses should consider taking as soon as possible.
Top of the list is conducting a supply-chain audit and working out where you are vulnerable to transport delays, tariffs, or VAT at point of entry, bridging skillset challenges in your organisation, around tariffs for example,eEngaging a good customs agent who is well connected internationally and applying for the Be Prepared grant if you are an Enterprise Ireland client to cover the cost of bringing in a consultant who can help deal with the implications of Brexit for your business
‘It’s late in the day to start diversifying but, nonetheless, it is better to start this process now. As we all know, market diversification takes time and significant effort,’ says Mr Doyle.
He advises that businesses should review their currency exposure.
‘If you deal in significant amounts of sterling, now is the time to review your hedging policy and hedging know-how. Review upcoming contracts in the UK and ask whether you should enter them and take on extra headcount, for example, given the risks that Brexit brings.’
Consult with your financial controller or professional services partner modelling a range of financial scenarios – particularly the increased costs the business will incur from Brexit eg. weakened sterling, transport costs, product development costs to lengthen shelf-life. ALDI is seeking to recruit 33 new employees across its stores in Wicklow, it announced last week.
There will be store manager, assistant store manager and store assistant positions in the four supermarkets. Aldi also announced a new minimum rate of pay of €11.90 per hour, effective from February 1. This is in line with the living wage rate recommended by the Living Wage technical group. The supermarket retailer plans to recruit over 500 new staff across the country this year.
Aldi has a 10.8 per cent share of Ireland’s grocery market and experience its busiest Christmas week ever in 2018, with sales value up over 10 per cent on the previous year.
It is currently engaged in a new store opening programme, while also investing €60m in revamping and refurbishing its existing stores nationwide. To apply for the roles go to aldirecruitment.ie.