While previously the Irish business environment had been described as “poor” or “worse” and confidence had been waning, business confidence among Irish firms is now on the rise.
Growth in confidence
The Irish Business and Employers Confederation (IBEC) recently published its second quarter Business Sentiment Survey which provided evidence for this growth in confidence and confirmed Irish businesses’ confidence in current and future trading conditions.
Further, the survey showed that firms have a much more confident outlook for their own businesses than the global economy that can be very unpredictable.
Business managers’ level of confidence about their own business performance was also highlighted in the survey and confidence remained stable despite the slight dip in export sales.
Statistics in the survey also revealed that Irish firms are planning to add staff in the next three months.
Specifically, one fifth of the 400 IBEC member companies that were surveyed said they intended to increase the number of employees, which is almost double the amount they stated in the same period in 2010.
With Ireland still fighting to work its way out of the economic recession, this new found confidence among Irish firms will be key if they are to beat the recession.
To view the IBEC second quarter Business Sentiment Survey, click here