Survey Explores Irish Business Owners’ Economic Outlook

A survey has indicated that 40 per cent of Irish business owners and managers are still waiting to feel the positive impact of Ireland’s upturn in economic fortunes. In the survey of more than 250 business owners and managers, which was carried out by supplier of online accounting software Big Red Cloud, respondents were also asked their views pertaining to business performance following the recession and Ireland’s attitude towards the self-employed.

Marc O Dwyer, CEO of Big Red Cloud, set out the findings: “What’s interesting is that 8 per cent of SMEs have reported a change in their economic fortune for the better over the last two years. Worryingly, 40 per cent revealed that they are still struggling – though encouragingly perhaps, 20 per cent of these businesses believe they will be in a better position by the end of 2018.

“From a macro perspective, all figures for Ireland point to strong economic growth. While this is to be welcomed, this broad brush cannot be swept across the nation, as it is not reflective of the fortunes of all of Ireland’s SMEs. Our business landscape is made up of a myriad of different entities – businesses operating in import and export led industries, and within that we have big business, medium sized business, small business and start-ups. We wanted to drill down to get a better understanding of how Ireland’s SMEs are feeling – and how this compares with the sentiment they expressed this time 2 years ago when we put the same question to them.”

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