More than two thirds (72%) of Irish business owners are optimistic that next week’s budget will have a positive impact on businesses in Ireland.
This is according to the of the France Ireland Chamber of Commerce (FICC) ‘Pre-Budget Business Sentiment Survey’ released today, which was conducted among 150 member business owners.
According to the research, over half (59%) of business owners believe budget 2016 will affect Irish businesses more favourably than budget 2015.
Concerns do exist however, regarding the impact of a giveaway budget on economic growth, with 59% of business owners concerned that an overly generous budget could take its toll on long-term economic growth in Ireland.
Furthermore, the research shows that Irish business owners are optimistic about their business performance for the remainder of 2015.
More than two thirds (77%) expect their revenue to increase in the next three months. One in five feels their revenue will remain unchanged, and just 3% expect profit levels to fall before the end of 2015.
In relation to employment rates, almost two thirds (63%) of business owners intend to recruit more staff in the next three months, while 37% plan to maintain employee levels as they are at present.
President of the France Ireland Chamber of Commerce and Managing Director of Schneider Electric Ireland Jim Rice said, "The results of the pre-budget survey indicate a strong feeling of optimism among the majority of our members towards next week’s budget announcement and the impact it will have on their businesses.
"As this is the last budget before the next general election, it is not surprising that 59% of business owners are apprehensive about excessive or careless expenditure. Having experienced a string of austerity budgets in the past few years, hopefully the current government allocates funds in an economically wise and socially just manner.
"It is extremely encouraging for both Irish businesses and Irish employees to hear that business revenues and recruitment levels are expected to increase between now and the end of the year. The Chamber is hopeful that these expectations will be met and continue to rise as we enter 2016."
The FICC is Ireland’s third largest bi-lateral trade organization, whose members include Air France KLM, Alstom Ireland, BNP Paribas, CACI, Caceis, CRH plc, JCDecaux, LK Shields Solicitors, Mazars, Sanofi, Schneider Electric Ireland, Servier, Smartbox, Smurfit Kappa, Transdev, Valeo and Veolia.
Source: www.businessworld.ie
