Latest news with #All-islandBusinessMonitor
RTÉ News
3 days ago
- Business
- RTÉ News
1/3 of business owners say global and trade uncertainties among top 3 concerns
A third of business owners across the island of Ireland have identified global politics and trade uncertainties among the top three concerns for businesses. Business sentiment across the island of Ireland remains resilient this year, however tariff confusion is impacting confidence. The latest All-island Business Monitor by InterTradeIreland is the first comprehensive, all-island sentiment survey of business owners since the announcement of US trade tariffs. The survey, which is the biggest of its type across the island, collects the views of 750 business owners and managers. The survey results reveal a clear sense of unease, with growing anxiety appearing to be directly impacting sentiment. Both business and consumer confidence are cooling. The number of businesses citing this as a concern has risen to 21% which is an increase of 16 percentage points compared to this time last year. Speaking on RTÉ's Morning Ireland, InterTradeIreland's Director of Strategy Martin Robinson acknowledged that tariffs are in part influencing sentiment. "One third of businesses cited global politics and trade uncertainty as an issue for them and that's something that we haven't seen up until now. Having said that, underlying issues, over half of businesses are stable, a third of them are in growth, and six out of ten are still profitable"," he said. "But confidence is certainly taking a knock at the moment and I think that's being caused in part by the tariff issue," he added. 14% of businesses said they felt directly exposed to the US tariffs, and half of those said it was because they were either exporting to the states or sourcing from the US. They said this in turn could lead to increase in costs or raw materials, supply chain disruptions, wider issues in the economy and the threat of recession. The survey also asked SMEs about their approach to sustainability and achieving net zero emissions. While over half of respondents recognised its importance to their business, only 17% currently have a plan in place, with a further 12% developing one. "We're getting a mixed message there. While 55% of businesses are telling us that they believe sustainability is important, when it comes to actually following through and acting upon it seven out of ten still don't have a plan," said Mr Robinson. "Of those, 86% are saying they don't intend to have a plan anytime soon and that's gives us some cause for concern. So high sentiment, big awareness, but slow in action and follow through," he stated.
Irish Examiner
3 days ago
- Business
- Irish Examiner
Trade uncertainty denting confidence in Irish businesses, warns report
One in every three Irish businesses now see global political and trade uncertainties as a key concern, with geopolitical tensions beginning to erode business confidence, the latest All-Island Business Monitor has warned. InterTradeIreland's latest All-island Business Monitor shows that business sentiment across the island remains resilient in 2025, with most firms holding steady and staying profitable. Yet, beneath this stability, trade uncertainties rank among the top three concerns for businesses, with 32% of SMEs viewing it as a key issue. InterTradeIreland director of strategy Martin Robinson said the fast-evolving nature of the tariff situation is fuelling the uncertainty. 'The lack of clarity is making it increasingly difficult for business leaders to plan with confidence,' Mr Robinson said. The survey noted the number of businesses citing business and consumer confidence itself as a concern has risen to 21%, an increase of 16 percentage points compared to 2024. The All-island Business Monitor collects the views of 750 business owners and managers. It was conducted between April 7 and May 9, immediately after the announcement of new US trade tariffs. The number one concern for businesses remains rising costs of other overheads (56%), which includes staffing costs and insurance while energy bills remain a concern for half (51%) of businesses. Skills shortages remain persistent and competitive pressures are also rising with more firms flagging issues such as weakening demand and late payments. According to the All-island Business Monitor, 14% of businesses surveyed are directly exposed to the impacts of US trade tariffs and potential retaliatory measures. Those who reported they were most concerned about the impact of tariffs were in the manufacturing sector, with worries about increased raw material costs and supply chain disruption. This comes as the 2025 All-Island Industry 4.0 Future Skills report launched on Thursday in Dundalk reveals that the advanced manufacturing sector is facing a growing skills challenge that threatens to impact innovation, competitiveness and economic growth unless coordinated action is taken. On Thursday, Taoiseach Micheál Martin is joining business leaders and stakeholders from across the island in Dundalk for the annual Ibec and Confederation of British Industry (CBI) All-Island Economy Conference. 'The rise in global uncertainty stemming from US trade and tariff policies and growing geopolitical disruption means the all-island economy must focus on building resilience and deepening collaboration,' said Ibec chief executive Danny McCoy.
