Business optimism for Irish SMEs has declined in the first quarter this year amid concerns regarding Ukraine and high inflation rates. Rising input costs have led to Irish SMEs increasing their prices. Future optimism among Irish SMEs has also declined, with just 38% of companies saying they expect future business activity to improve, this is a decline from 48% in the final quarter of 2021. Smaller SMEs are facing the most challenges, with many facing fewer hiring opportunities and lower future outlook sentiment. The declining economic sentiment shown in the SME optimism index is consistent with other recent economic reports.
Source: Irish Examiner May 20, 2022 15:07 UTC