The Irish Small & Medium Enterprises Association (ISME) has warned of the negative effect of the sterling devaluation on border county retailers and the continuing cost creep for business despite zero inflation figures.
 
The Association has today demanded a rates rebate for border retailers together with a root and branch investigation into retail costs to be carried out by the National Competitiveness Council.
 
The release of the CSO Retail Sales figures for May which were released today shows that year on year retail sales figures showed an increase of 8.1% in volume and 5.3% in value. When the motor trade is excluded, sales were 6.5% higher in volume and 3.9% in value compared with 2015. 
 
ISME CEO, Mark Fielding today commented, "The retail sector continues to struggle. Despite strong economic growth, value for money is still the key determinant for Irish consumers."

He added, "In addition, retailers face increasing cost pressures, from the knock-on effects of the minimum wage increase, bank interest and charges and insurance. In addition border based retailers have now to deal with the sterling devaluation and their shops and jobs must be protected."

Source: www.businessworld.ie