Survey: 50% of small firms optimistic
An Ulster Bank survey has revealed more than 50% of firms in the Republic of Ireland with up to 100 employees expect business prospects to improve in the year ahead.
A further 30% believe their business performance will remain the same, according to the ‘Ulster Bank Business Confidence Survey’.
The survey, carried out by independent researchers Amarach Consulting in April 2007, showed over 20% of businesses expect their growth to be fuelled by more orders and enquiries, with a further 20% planning on expansion to deliver the expected stronger performance.
Only 15% of businesses believe their operation will not perform as well in the year ahead and 45% of these said their main concern was competition.
Among this group 2 in 10 cited the economy and interest rates as their main concern.
Of businesses surveyed in the North, 63% of companies believe their business prospects will improve in the next year.
A further 25% expect prospects to stay the same, and a total of 8% expect prospects to worsen.
At a regional level, business confidence varied, reflecting the different challenges faced by businesses, for example in accessing infrastructure and in attracting employees.
Businesses in the border counties of Donegal, Leitrim, Louth, Cavan and Monaghan and in the Mid-East counties of Kildare, Meath and Wicklow, are the most optimistic in believing their prospects for the year ahead will improve.
In contrast, the South-East counties of Carlow, Kilkenny, Tipperary South, Waterford and Wexford have the least positive business outlook, however still mainly optimistic.
