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Small Firms Outlook 2016 Reveals Optimism For Coming Year

Published on Jan 4 2016 9:43 AM in Retail tagged: Ireland / Small Firms Association

Small Firms Outlook 2016 Reveals Optimism For Coming Year

Ireland’s small business community is optimistic about the coming year with 77% of owner-managers feeling that the business environment is improving, according to research published by the Small Firms Association today (January 4th).

The Small Firms Outlook 2016 also reveals that 40% of respondents see domestic economic growth as offering them the biggest business opportunity, while other positive factors highlighted were specific sectoral opportunities (14%), exporting (12%) and bringing new products to market (10%).

Commenting on the report, SFA Director Patricia Callan said, “2015 was a significant year in terms of the broadening and deepening of the economic recovery.

“Small firms that survived the crisis are now looking to grow and develop their businesses, to attract talent and export their products,” she added.

More than 65% of survey respondents said they intend to take on new staff in 2016; news that has been welcomed by Callan.

“Small firms have a crucial role to play in job creation around the country, reducing unemployment and attracting emigrants home to work. We expect small firms to create 30,000 jobs in 2016,” she said.

However, the survey results have also highlighted the risk factors still facing small businesses, with 18% expressing concern over cashflow issues and 15% over rising business costs.

Economic instability remains a worry for 14%, as does wage inflation for 13%, with the same number troubled by legislative and regulatory burdens.

“Tax equalisation between the self-employed and employees will remain a priority in 2016, as will access to public contracts for small firms and the cost of bank finance,” remarked Callan.

 

© 2016 - Checkout Magazine by Jenny Whelan.

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