Latest news with #SmallFirmsAssociation
RTÉ News
07-08-2025
- Business
- RTÉ News
9 out of 10 small businesses use AI tools
New research from the Small Firms Association (SFA), shows that 9 out of 10 small firms are using artificial intelligence (AI) for one or more business processes. The most popular uses for AI were reported to be automation of simple tasks and data analytics reporting. The study found that the main barrier to deeper adoption of AI, is the lack of technical expertise followed by time pressures and a lack of a clear business strategy. According to the research, sentiment around adopting AI tools is broadly positive, particularly amongst providers of financial and professional services. Over two thirds of businesses said that they are either enthusiastic or curious about using AI tools. Three quarters of respondents said they have either started or are planning to investigate business use cases for AI. The retail sector respondents had the highest proportion of those that have not started or have no plans to use AI. "While the survey shows that small businesses are interested and curious about it, AI adoption remains shallow among small firms as it is mostly confined to content generation and simple data analysis, rather than innovation, product development, or decision-making," said David Broderick, Director of the Small Firms Association. "Therefore, many businesses have not yet explored its full potential." "Government should work with business to leverage an unlocked National Training Fund (NTF) to fund investment up/re-skilling programmes in digital and AI," Mr Broderick said. "The government also must ensure that Digital for Business and the Grow Digital Voucher supports further digital and AI adoption and increase private sector access to innovation supports, particularly the R&D tax credit," he added.
Irish Examiner
04-08-2025
- Business
- Irish Examiner
Small Irish firms 'have not yet explored full potential of AI', survey finds
Just 40% of small Irish firms have implemented AI in some form across their business, but its use remains 'shallow' and is mostly confined to content generation and simple data analysis, a new survey has found. According to research conducted by Amárach on behalf of the Small Firms Association, 8% of firms have already incorporated AI into most of their business areas, while 13% said they had started incorporating it into some of their business. A further 19% said they had started to experiment with AI in some business areas. Another 22% said while they had started looking into how AI might be used in their business, they had yet to start using it. Small Firms Association director David Broderick said while the survey showed that although small businesses were interested and curious about AI, "adoption remains shallow among small firms as it is mostly confined to content generation and simple data analysis, rather than innovation, product development, or decision-making'. 'Therefore, many businesses have not yet explored its full potential,' he said. Mr Broderick added small businesses needed to 'adopt AI strategically to keep up with large businesses to survive'. In total, 357 companies were surveyed as part of this research. Of the firms who use AI, 66% said it was utilised in their sales and marketing, including content creation, while 44% said it was being used in their data analytics. It also found 35% of firms had implemented the technology in chatbots and customer support. Read More John Whelan: Every penny of available Apple cash needed to back Irish AI development
Irish Independent
26-06-2025
- Business
- Irish Independent
Two of every three Irish adults are working, as labour force growth bucks the global trend of ‘great retirement'
Irish workforce participation rate of 65.8pc is above the EU average of 59pc There has been no 'great retirement' in Ireland, with the labour force participation rate now standing at almost 66pc, way ahead of the EU average. While the Covid pandemic led to a dramatic increase in retirements in other countries, the opposite has happened in Ireland, with more men and women joining the workforce. 'There is evidence of a clear level-shift between the period before the Covid-19 pandemic and the period since,' the ESRI's latest quarterly economic commentary says. It points out that the Irish participation rate of 65.8pc is above both the EU average (59pc), and the average of Western European countries (62pc). 'Such a high participation rate suggests there may be limited scope in the domestic labour market for future increases to the labour force,' said the ESRI. The 'remarkable' rise in employment means there are now almost 2.8 million people at work, a historic high. The ESRI predicts there will be another 66,000 people added to employment figures this year, and 45,000 next year. With unemployment remaining low, at just 4pc, the tightness of the labour market is putting upward pressure on wages. Because they now outstrip price inflation, real wages are on the rise. The ESRI is forecasting real wage growth of 3.5pc this year, and 2.3pc in 2026. 'Year-on-year growth in nominal wages was 5.5pc in the first quarter. This followed similarly high growth rates in 2024,' according to the ESRI commentary, which notes that sustained growth in nominal earnings of about 5pc is high by historical standards. Higher labour costs are having an impact on employers, with 49pc of small businesses reporting an increase in costs over the last year, according to a new survey from the Small Firms Association. Labour-related costs remain the biggest challenge, businesses say, with 31pc saying they have increased. The tightness of the labour market makes it harder for Government to hit house-building targets. ADVERTISEMENT The ESRI says that to get to the 50,000 units a year that are needed, another 40,000 construction workers would have to be employed. To complete all the projects in the National Development Plan as well would require a total of 80,000 to be employed. As with other institutions, including the Central Bank, the ESRI has downgraded its forecast for how many houses it expects to be completed this year. 'The number of housing completions in 2024 – at just over 30,000 – was disappointing and we remain somewhat pessimistic about the scope for substantial growth in 2025 and 2026,' the commentary says. 'We have reduced our forecast from our previous commentary for the present year, and now expect 33,000 completions in 2025 and just under 37,000 completions in 2026, but there are considerable downside risks.' It has also reduced the forecast for modified domestic demand, regarded as the most accurate measure of Irish economic performance. The ESRI had forecast growth of 3pc last spring, but has reduced that to 2.3pc. The word 'uncertainty' appears 19 times in the commentary, with the ESRI saying it now 'far outweighs' previous highs such as Covid and the global financial crisis.
RTÉ News
20-05-2025
- Business
- RTÉ News
MentorsWork invests €6.5m to support SMEs since 2020
MentorsWork, an initiative of Skillnet Ireland in partnership with the Small Firms Association (SFA), celebrates its five-year anniversary this week. Since its launch in 2020, MentorsWork has provided targeted business supports to nearly 4,000 small and medium-sized enterprises (SMEs) across the country and invested €6.5m to drive SME growth, resilience, and innovation. MentorsWork provides targeted support across critical areas, including digitisation, HR management, sales, finance, marketing, sustainability, and overall business growth. The initiative is open to business owners and managers from all industries with one to 250 employees. The 12-week programme introduces participants to a dedicated and experienced mentor who works with them to address their specific areas of concern, alongside masterclasses and peer-to-peer workshops. Mark Jordan, chief executive of Skillnet Ireland, said the programme is a fantastic resource for SMEs, delivering practical supports and strategic guidance to businesses across Ireland. "Expert mentors provide education and information to SME owners on how to innovate, adopt new technologies and adjust to ever-changing market dynamics - particularly in the current economic and technological climate," he said. "It is a testament to the success of the programme that it has reached this half decade milestone, and we look forward to its continued success and growth into the future," he added. David Broderick, Director of the Small Firms Association, said the five year milestone reflects the strength and value of the MentorsWork programme in helping SMEs overcome real-world challenges. "The initiative has been a game-changer for so many businesses. By addressing specific needs and equipping SMEs with tailored support and mentoring, we are helping them not only survive but thrive in an increasingly competitive environment," he added.
