Irish enterprises complained about the increased production costs. According to Bloomberg, the jump in the cost of production to hurt buyers, as it turns the increase in prices.
Almost three-quarters of small and medium-sized food industry and agribusiness enterprises said that their spending increased by almost 70 percent in comparison with last year. The cost of packaging was influenced by the cost of packages, problems with transport and raw materials, the rise in electricity prices. More than half of the entrepreneurs noted that the key factor in the cost of increasing the costs of supplies in supply as a result of Brexit, and 72 percent said that the yield of Britain from the EU had a negative impact on their business.
Interstiversary study of the confidence of small and medium-sized enterprises conducted for the financial organization Linked Finance showed that almost a quarter of respondents and fifty-seven representatives of the wholesale and retail sector expect price increases in the future. “Inflation is another sign of economic growth, but now enterprises need to be careful to maintain competitiveness, especially if they depend on trade with other countries,” said Linked Finance Director of Linked Finance Nayl O’Greedi.
The Great Britain’s economy was also injured due to Brexit. Many migrants had to leave Britain, which caused the shortage of labor. Due to the lack of drivers, the Scots were forced to throw the crop of broccoli and cauliflower, as there was no one to deliver the goods. In 2021, the export of food and beverages from the United Kingdom to the European Union (EU) fell by 2 billion pounds of sterling (2.8 billion dollars). Entrepreneurs from the food industry sector in the near future do not expect improving trade with the EU, since rigid border control was introduced in Britain.