#Open journalism No news is bad news

Your contributions will help us continue to deliver the stories that are important to you

Support The Journal
Dublin: 8°C Monday 19 April 2021

Three months on and small firms feel more confident about business

Results also show that 30 per cent of respondents rate the current overall business environment as ‘poor’ or ‘very poor’.

Image: Open sign via Shutterstock

FOUR OUT OF 10 small firms rate their business as ‘good’ or ‘very good’ over the next three months.

In the Small Firms Association’s Spring Business Sentiment Survey it was also revealed that small businesses feel more confident with over a quarter of them saying they were more positive about their own business than they were three months ago.

“Improvement in small business sentiment and business activity levels is encouraging and indicates that a gradual recovery is taking hold,” said Avine McNally, director of the Small Firms Association.

Poor business environment

However, the results also show that 30 per cent of respondents rate the current overall business environment as ‘poor’ or ‘very poor’, a drop of 20 per cent when compared to 12 months ago. While one-fifth rate it currently as ‘poor’ or ‘very poor’, a decrease of 13 per cent on this time last year.

The business activity indicators show that expected changes over the next three months are more positive than previously experienced.

Domestic market sales are expected to increase for 35 per cent of small firms while nearly half of those companies who export expect to see increase in sales.

McNally added that it is vital that confidence within the small business sector is built upon and called on the Government to “put in place policies that will assist this vital sector drive growth in the wider economy”. The SFA put forward the following three point plan:

  • Making SMEs and job creation the leitmotif of Government policy
  • Increase credit availability to SMEs and financing facilities to support expansion and improve cashflow
  • No additional costs on employment in 2013

Read: SFA warn of €6 billion cost of black economy, urge government action>

About the author:

Amy Croffey

Read next: