Home > Financial > 68% of Irish companies plan to invest in the year ahead

68% of Irish companies plan to invest in the year ahead

Written by Robert McHugh, on 18th Dec 2015. Posted in Financial

article headline

The PwC 2015 SME Pulse Survey has been launched today. It is carried out amongst Ireland’s SME community defined as having less than 250 employees and is the second year of the survey.   
 
The survey highlights that fewer SMEs when compared to last year expect overall costs to increase in the year ahead. The top economic and policy threat now is political change (68%).  The next greatest concern is inadequate business infrastructure (66%).  

Other concerns have eased substantially such as the Government’s response to debt burdens, increasing tax burdens, exchange rate volatility and over-regulation, while nearly two- thirds (63%) remain concerned about cyber threats. 
 
Nine out of ten (91%) Irish SMEs are confident about the prospects for the Irish economy in the year ahead, up from 87% last year.  Furthermore, one in eight (81%) are favourable about their own business. This reflected in the significant surge in capital investment being made, with over two-thirds (68%) now planning to invest in their business when compared to 51% last year.
 
John Dunne, Partner,  PwC Private Business Services says, "The survey is good news for the Irish SME sector, many of whom are targeting the export market. While still high, many of the challenges of the past are now beginning to show signs of easing up such as access to finance, skills and the overall tax burden.  

"However, as a small open economy heavily dependent  on foreign markets, there is no time for complacency and private Irish businesses should continue to keep a close watch on all areas  of operation and look to really exploit the benefits that digital technologies have to offer."

Source: www.businessworld.ie 

More articles from Financial

image Description

Central Bank says pandemic-hit borrowers should get interim support

Read more
image Description

Irish banks ready to work with Covid-impacted customers

Read more
image Description

Irish contactless transactions rise by 15%

Read more
image Description

Irish COVID-19 jobless claims climb again ahead of new constraints

Read more
image Description

Irish Central Bank Governor says no evidence to suggest fresh ECB action needed

Read more