InterTradeIreland Business Monitor Indicates Signs Of Recovery Among Business Owners
Published on Aug 18 2014 2:43 PM in Retail
A survey by InterTradeIreland has found that signs of recovery across the island continued to emerge in the second quarter of this year, with 37% of businesses reporting an uptake in sales, and 11% reporting an increase in staff.
However, the Q2 2014 InterTradeIreland Business Monitor found there was a 7% drop in the number of firms that said that they were now 'in growth mode' (30%). The fall is more marked among businesses in Ireland than in Northern Ireland, but firms on both sides of the border are reserved about the sales outlook over the next 12 months.
The survey also claimed that almost one in five businesses (19%) have a product or service 'suitable for export' but don’t sell across the border or further afield, due to a number of factors, including a lack of time or management resources (26%), the perceived cost associated with entry to new markets (24%) as well as lack of internal financial resources (21%) and a lack of awareness of available support (17%).
InterTradeIreland’s Dr Eoin Magennis said: “Given that we consistently see exporters significantly outperforming domestically-focused businesses and that they are very positive about increasing their sales in the next year, it is vital that we ensure that any potential exporter is encouraged and supported.”