A new survey shows that 89% of business leaders think Ireland needs to actively address improving relations with the UK in a post-Brexit scenario.
The Institute of Directors' latest Director Sentiment Monitor also show that 39% of IoD Ireland members believe Ireland's status in the EU post-Brexit will be enhanced rather than diminished.
But 25% believe it is difficult to judge how the UK's departure will impact Ireland's status in the European Union.
The survey also shows that 88% of business leaders believe that Brexit's impact on the Irish economy will be negative in the short-term.
However, this falls to 47% when they are asked about the long-term.
Just 6% believe that Brexit's impact on the Irish economy will be positive in the short-term. This rises to 29% when applied to the long-term outlook, the IoD said.
Maura Quinn, the CEO of the Institute of Directors, said she believes that both the country's politicians and business leaders will need to be "mindful" of our future relationships with the UK and the EU during the upcoming trade negotiations.
"We are entering a new era where Ireland will no longer have our closest neighbour as a potential ally on some key issues within the EU," Ms Quinn said.
"IoD members have told us that they believe Ireland's relationship with the EU will be enhanced post-Brexit," she said.
"However, they are concerned about our relationship with the UK and they believe that needs to be addressed by the next government, however that is constituted," she added.
Ms Quinn said that today is a historic moment not just for the UK-EU relationship but for Ireland's relationships with both.
