Small Business Owners Increasingly Confident. More So Than The Public!
Small business owners are more optimistic about the future than the general public with one in 10 planning to open new premises this year, a new survey shows. The Amárach/Magnet study of 600 small and medium-sized enterprises (SMEs) found three quarters of small firms believe the economy is improving compared to just 55 per cent of the general public. The survey found that companies in the mid-west and Dublin are most positive while those in border areas and the southwest are less confident. Firms with fewer than five staff are the least optimistic with just 55 per cent confident about the year ahead compared to 70 per cent of larger SMEs.
The manufacturing sector is the most positive about the outlook for the year ahead with firms operating in the hotel, restaurant and bar sector the most negative. “The first year of Magnet’s barometer shows SMEs across Ireland are far more positive about the future than consumers,” Magnet chief executive Mark Kellett said. “Businesses are proving very resilient in the face of the high operating costs and financing issues they are facing.” But he warned that smaller firms were in need of more support with just over one in 10 feeling the government was doing enough to help them. However, just 11 per cent of SMEs are aware of government technology and business grants.
In other findings, the survey showed that 30 per cent of SMEs plan on investing in IT infrastructure over the next 12 months with more than half of firms with 21 to 50 employees planning such investment. Avid Partners have conducted first hand research in line with the Amarach findings with a trend towards growth and expansion. Call Avid Partners on 0181 303087 or email us at advice@avidpartners.ie.
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