Business leaders worried Northern Ireland will bear brunt of Brexit hit

Almost all Northern Irish firms want to have a trade representative at Brexit talks...

ESRI, Brexit, FDI, Foreign Direct Investment, corporation tax, Ireland, EU,

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The overwhelming majority of Northern Irish firms believe that Brexit will hit the North harder than the UK as whole.

A survey of business leaders conducted by the Confederation of British Industry (CBI) at an event in Belfast yesterday found that 89% think that Britain's decision to leave the EU "have a greater economic impact" on Northern Ireland.

Some 92% believe that the decision to leave the EU will have a "negative" impact on the region over the next five years, the Irish Times reports.

The poll found that just 2% thought the decision would be prove to be a positive one economically.

One-third said Brexit would damage their own business.

Almost all (96%) wanted Northern Ireland to have its own trade representative involved in negotiations as Britain seeks to strike a deal to cut ties with the EU.

According to the CBI, currency fluctuations, trade costs and potential tax changes are the chief concerns among Northern Irish business leaders.