Small business owners ‘out of their depth' on tech skills critical for survival
companies
.
Lean BPI, an Irish digital growth consultancy for SMEs (small and medium-sized enterprises) and microenterprises, has published a survey that shows concerns among small enterprise owners about external threats to their businesses, along with issues regarding the adoption of digital technologies.
Almost three-quarters (71 per cent) of small business owners reported that they struggle to
retain talent
due to competition from larger companies. As a result, the same proportion report a clear digital skills gap in their sector.
Will rent reform make building apartments viable?
Listen |
40:12
When assessing their own knowledge of digital technologies, 46 per cent of small business owners said they feel out of their depth.
READ MORE
With this in mind, 48 per cent reported that managing digital transformation is stressful and 43 per cent admitted they lack the confidence to drive digital change within their organisation.
One in four small firm owners said they face pushback from their teams on embracing new technologies, while almost one in five said they are not providing sufficient training for their team on the use of digital technologies.
In addition, 59 per cent of small businesses said they are
worried about the impact of tariffs
on their organisations.
The research of 100 business owners in Ireland, running companies with 20 employees or fewer, was carried out by Censuswide on behalf of Lean BPI.
[
EU must keep 'nerves of steel' in talks with US on tariffs, Costa says
Opens in new window
]
Lean BPI managing director John O'Shanahan urged small business owners to access digital grants from their Local Enterprise Office.
'Given their size, small businesses are naturally more vulnerable when there are economic shocks, which the proposed US tariffs would undoubtedly cause,' he said.
'While there will always be external challenges, it is how small businesses adapt to them that will determine their survival and success.
'For now, business owners are rightly concerned about tariffs, but inevitably, more challenges await – along with plenty of opportunities. The difference will be in agility and how businesses use technology to respond smartly and with speed.'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Irish Times
37 minutes ago
- Irish Times
Jump in unemployment dismissed as ‘statistical noise' by Davy
The rise in Ireland's unemployment rate has been dismissed by Davy stockbrokers as 'statistical noise'. The stockbroker also insisted the economy remained close to full employment . The State's jobless rate climbed to 4.9 per cent in July, up from 4.6 per cent and the highest rate in more than three years, according to figures published last week by the Central Statistics Office (CSO). The increase comes amid warnings about a potential slowdown triggered by US tariffs . READ MORE The upward revisions, flagged by the CSO, represent 'a mainly statistical aspect of the estimation process rather than providing any real-economy signal that Ireland's labour market conditions have worsened in 2025,' Davy chief economist Kevin Timoney said. He noted that the figures incorporated the latest Labour Force Survey, which has not yet been published, and included a new category of unemployment assistance (jobseekers' pay-related benefit) for the first time. 'Combined, these factors help to explain the higher unemployment rate estimate, and we expect this will unwind further into [the second half of the year],' Mr Timoney said. 'An alternative explanation is that high economic policy uncertainty in Ireland and abroad as a result of tariffs has resulted in an increase in the unemployment rate,' he said. 'However, we think the statistical factors noted above are more likely to explain the increase,' he added, noting that labour demand in the Irish economy remained strong. [ Unemployment climbs to highest rate in more than three years Opens in new window ] The State's jobless rate is now the highest rate in more than three years, according to Central Statistics Office figures. Photograph: Getty Images In its report, Davy also blamed softer-than-expected income tax receipts in the latest exchequer returns on 'slowing wage growth in high-earning sectors (which contribute the bulk of income tax receipts)'. The CSO will publish monthly payroll data on Friday. These are based on real-time Revenue data and are considered one of the more accurate barometers of the Irish labour market. Separately, European Central Bank officials are now expected to wait until December to deliver their next interest-rate cut in what is likely to be the final move in the cycle, according to a Bloomberg survey. Economists have pushed back expectations for another reduction in borrowing costs by three months, compared to a survey conducted in July. With the deposit rate then landing at 1.75 per cent, they see it remaining there for nine to 10 months before a pickup in demand will likely force them to reverse course. Waiting until the final meeting of 2025 would give ECB policymakers the luxury of more time to assess the impact of trade disruption caused by US President Donald Trump. By December, policymakers will have seen how the economy performed in the third quarter, offering a clearer picture of underlying momentum after distortions caused by attempts to front-run US tariffs earlier in the year. – additional reporting by Bloomberg
Irish Times
37 minutes ago
- Irish Times
Founder of breast cancer clothing firm wins €85k after salary stopped
The founder of a clothing line for breast cancer patients has won nearly €85,000 after a tribunal ruled she was constructively dismissed by having her salary stopped last year. Ciara Donlan secured the sum after pursuing a series of employment rights complaints against Theya Healthcare Ltd, a brand she established a decade ago, following what she termed an 'aggressive takeover' in 2023. The company was not represented when the Workplace Relations Commission (WRC) heard her complaints under the Unfair Dismissals Act 1977, the Payment of Wages Act 1991 and the Terms of Employment (Information) Act 1994 in June this year. Ms Donlan, representing herself before the employment tribunal, said the company had been profitable when a liquidation was triggered by 'an aggressive takeover attempt by two angel investors' in January 2023. READ MORE She said that key assets of the brand were bought by members of a family involved in manufacturing medical garments in China, the Gallaghers, who offered her a job as CEO with a 40 per cent shareholding in a new entity, Theya Healthcare Ltd. The €110,000-a-year pay deal she had was altered to €90,000 in salary plus €20,000 in expenses paid 'off the books', she said. The remaining 60 per cent of the business was to be held by Anne Sweeney, the wife of businessman Joseph Gallagher, she said. Ms Donlan said that when she looked for a contract for the CEO role, Mr Gallagher 'dismissed the need for one'. She said that despite assurances from the Gallagher family that production of Theya's product line at their factories in China would be a priority, there were 'persistent delays' which hit customer relations and 'disrupted the sales pipeline'. She said her efforts to co-ordinate manufacturing through the family 'proved unreliable', with her queries 'often met with vague or evasive responses'. 'These difficulties made effective management of the business nearly impossible,' Ms Donlon said. The adjudicator, Breiffni O'Neill, noted Ms Donlan's evidence that 'tensions' worsened in early September 2024 when Ms Donlon's monthly expenses were not paid. Ms Donlon's case was that the company's financial director informed her this was because she had been 'instructed not to release the payment' by the respondent. The complainant said she considered quitting at that stage, but stayed on 'out of loyalty to the customer base' and other commitments. Ms Donlan's evidence was that having been left short by €2,500 in August, she was told around September 20th 2024 that she would not be receiving her scheduled salary payment on September 26th. Mr O'Neill noted in his decision that the evidence before him was that there had been an instruction given not to pay Ms Donlan her salary due in September 2024 while the company 'continued to pay other staff'. There was 'no lawful justification or mutual agreement' to hold back or suspend her pay, he wrote, calling this 'a fundamental repudiation of the contract by the respondent'. He concluded on this basis that Ms Donlan was constructively dismissed and awarded her nine months' pay for her losses, a sum of €67,500. He directed the payment of a further €10,000 to Ms Donlon for her unpaid salary under the Payment of Wages Act 1991. Mr O'Neill also awarded the complainant €6,923, a sum of one month's wages, as compensation for the failure to provide Ms Donlan with a contract of employment in breach of the Terms of Employment (Information) Act 1991. He noted that he was giving the 'maximum allowable award' for this breach, as he considered the 'complete failure to issue a statement of terms and conditions of employment' to be 'more serious' than providing an incomplete or incorrect one. The total awarded to Ms Donlan in the case was €84,423.
Irish Times
2 hours ago
- Irish Times
Investors pause for breath at start of busy week for tariffs and talks on Ukraine
European shares ticked lower on Monday, as investors refrained from making big bets at the start of an eventful week packed with tariff negotiations and ending with promised talks between the US and Russia on the war in Ukraine. Dublin The Irish index of shares tracked wider European trends, edging 0.6 per cent lower by the close of the session. Financial stocks were mixed, with AIB shedding 0.3 per cent to close at €6.96, and insurer FBD off 1.4 per cent, while Bank of Ireland was 1.2 per cent higher at €12.88. READ MORE Construction stocks suffered, with insulation specialist Kingspan down 3.8 per cent, home builders Glenveagh and Cairn both were more than 1 per cent weaker on the day. Ryanair was also slightly lower, losing 0.46 per cent, while food group Glanbia ended the day at €12.20, a 1 per cent decline. Kerry Group was flat. London Britain's blue-chip index climbed on Monday, led by financials and consumer-related shares, while investors focused on upcoming economic releases and revived Russia-Ukraine peace efforts. The FTSE 100 gained 0.4 per cent, while the FTSE midcap index was down 0.4 per cent. In consumer-related shares, British American Tobacco and spirits maker Diageo rose – by 2 per cent and 1.8 per cent, respectively. Retailer Marks & Spencer resumed click-and-collect orders for clothing after a nearly four-month hiatus following a cyber hack and data theft, sending its shares 3 per cent higher. Among other movers, Oxford Nanopore Technologies dropped 3 per cent after the biotechnology firm announced CEO Gordon Sanghera's planned departure by 2026, though the broader healthcare sector added 0.7 per cent. Online trader Plus500 fell 5.7 per cent after it announced disappointing profit margins and unchanged annual forecasts, making it one of the FTSE 250's biggest decliners. Europe The pan-European STOXX 600 index closed 0.1 per cent lower, retreating from gains earlier in the day, but still hovering near its highest level since July 31st. Investors will be bracing for the summit on Friday in Alaska, where Kyiv fears Russian President Vladimir Putin and US President Donald Trump may try to dictate terms for ending the war. A German Government spokesperson said European leaders will hold a virtual meeting Mr Trump in advance of the summit, after they pressed for Ukrainian President Volodymyr Zelenskiy to take part in the talks. Hopes of a peace deal weighed on German defence companies, with Rheinmetall dropping 4.6 per cent, while Renk fell 1.6 per cent. Germany's benchmark index slipped 0.4 per cent, while the broader aerospace and defence index was off 1.1 per cent, after hitting an over one-month low in the session. A 29.6 per cent plunge in Danish wind farm developer Orsted after it unveiled a 60-billion-kroner (€8 billion) rights issue also weighed on stocks. The stock hit a record low and was the biggest faller on the STOXX 600. New York Wall Street's main indices were choppy on Monday as investors prepared for a busy week. Nvidia and Advanced Micro Devices reversed premarket losses and were up 0.2 per cent and 2.6 per cent, respectively, by lunchtime in volatile trading. A US official told Reuters the semiconductor majors had agreed to give the United States Government 15 per cent of revenue from sales of their advanced chips to China. Analysts said the levy could hit the chipmakers' margins and set a precedent for Washington to tax critical US exports, potentially extending beyond semiconductors. Enabling semiconductor sales to China was an integral issue in the agreement Washington and Beijing signed earlier this year, which expires on Tuesday. US President Donald Trump lauded China's co-operation in talks at a White House news conference earlier on Monday. The market was also anticipating key inflation data. At 11.59am ET, the Dow Jones Industrial Average was 91.43 points, or 0.21 per cent, lower on 44,084.19, the S&P 500 was 6.87 points, or 0.11 per cent, ahead on 6,396.39, and the Nasdaq Composite was 60.17 points, or 0.28 per cent, stronger on 21,510.19. – Additional reporting: Reuters
