The Irish SME Association (ISME) has released its latest Quarterly Business Trends Survey for the fourth quarter of last year. 
 
The survey shows that Business Confidence continued to decline in 2018, dropping by a further 20% in this quarter. Confidence for SMEs has not been this low since 2011 in the ISME surveys, as Brexit remains the biggest concern and economic uncertainty rises.
 
Sixty five percent of businesses expect to increase wage rates of employees. Seventy seven percent of businesses report an increase to their motor insurance and 81% reported an increase to their business insurance.
 
Commenting on the results, ISME CEO, Neil McDonnell said, "Today’s results show worrying but not unexpected trends for SMEs. Business Confidence and Profitability Expectations are down a further 5% and 4% respectively on last quarter; while Exports show a decrease of 3% in the overall indicators. The report highlights the need for government to invest more in our indigenous economy. The report reflects the concern around the increasing likelihood of a hard Brexit."

Source: www.businessworld.ie