Businesses big and small are being urged by Revenue to urgently start preparing for Brexit. 

There is just 18 days to go before the UK is due to leave the EU and Revenue say businesses risk failing unless they make adequate preparations, such as arranging a customs registration number. 

To this end, Revenue are hosting Trader Engagement seminars to encourage companies to implement their Brexit plans.

600 people from 475 businesses – from across a wide range of sectors – are expected to attend a seminar today at the Printworks Centre in Dublin Castle.  

The seminar aims to give them an insight into the impacts of Brexit on their business and advise as to how best they can prepare. 

There will also be full and frank assessments of what will happen to those businesses that do not prepare. 

The Revenue Commissioners noted recently that the number of applications for Economic Operators Registration and Identification (EORI) numbers more than trebled in the first 19 days of February compared with the whole of January. 

An EORI is a requirement for traders dealing with non-EU "third countries".

There were 1,644 applications for the customs registration numbers, which businesses will need to have if they are to continue trading with the UK after Brexit, so far this month –  a 330% increase on the 384 applications by the Revenue received last month.