Less than 20pc of Irish SMEs are ready for quarter and month

  • Less than 20pc of Irish SMEs are ready for quarter and month
    Independent.t. E.
    Less than a fifth of Irish SMEs have encountered a time bomb, quarter, and month, with the laying on of intrigue for British exit from the European Union in March next year.
    https://www.independent.ie/business/brexit/less-than-20pc-of-irish-smes-are-ready-for-brexit-37187048.html
    https://www.independent.ie/business/article37187047.ece/c73eb/AUTOCROP/h342/2018-08-06_bus_43013089_I1.JPG

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Less than a fifth of Irish SMEs have encountered a time bomb, quarter, and month, with the laying on of intrigue for British exit from the European Union in March next year.

But with the risk of hard British exit more likely, more small and medium businesses throughout the island of Ireland are prepared to face the consequences.

This is according to new research from InterTradeIreland, the cross-border body, which is funded by the Ministry of business, entrepreneurship and innovation and the Department of the Northern Ireland economy.

The latest quarterly business monitor from InterTradeIreland was established that SMEs are increasingly delaying investments until there is clarity about British exit from the EU, with almost a quarter of them on the island say that it affects their process of investment decision-making.

Of the surveyed businesses said 30, they are concerned about the potential impact on sales for the quarter and month.

With just seven months before the British exit from the EU, the survey also showed that only about 20pc of firms have taken steps to plan the withdrawal of the UK from the world’s largest trading bloc.

“The number of companies that are preparing for the quarter and month is increasing all the time,” said an authorized employee and InterTradeIreland Director of strategy, Aidan Gough.

“We see the demand for our services and support. In particular, our quarter and month for consulting services.”

He warned that businesses cannot afford to relax in the drawing up of plans for the quarter and month.

The government recently revealed that 151 applications were made for funding under the program of lending to the UK out of the EU, the Euro 300m pot credit financing, which served the strategic Banking Corporation of Ireland. It was launched in late March.

But only 10 applications were approved under the scheme, with loans totalling EUR 2.5 million.

Under the terms of the Fund, at least 80pc of the loan must be spent on research and innovation, with the balance of the loan used to establish these activities.

The latest InterTradeIreland business monitor, where firms were surveyed in the period April to June showed that the number of firms across the island growth remains high, at 46pc. This is the highest figure since 2011.

But he said InterTradeIreland point is “more complex” economic picture”, with serious problems on the horizon and the mixed sentiment in all sectors”. The survey also showed that the energy cost and overhead – most likely, salaries are the biggest challenges for companies in Ireland.

“At the sectoral level, the number of retail businesses reporting the difficulty increases,” he said.

“This applies to construction firms. Interested in the construction sector, 53pc report that new competitors are entering the market while more than half say profits remain tight.”

He added that 27pc paintball productions, said spare capacity. InterTradeIreland said this is a significant increase compared to the previous quarter.

“We also see a growing number of firms are trying to recruit for the development of certain skills. It is just over a quarter of businesses across the island,” she added.

But more than a quarter of professional service firms plan to increase investment in staff training and upgrading its it systems.

“In this sense, mixed signals from the economy that was exacerbated by the lack of clarity on the UK’s exit from the EU, as the outcome of the negotiations of Britain with the EU remain unclear,” – said the Agency interlocutor.

Prime Minister Theresa may met with the President of France Emmanuel macron last Friday at his Villa in the South of France.

She was hoping to convince him to soften the position of leaving the UK and France.

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