Industry & Business

Investment in small firms increasing despite Brexit concerns

 Breaking News
  • Cyber attack hits IT systems in Ireland and UK Several organisations including big business and government offices in eastern Europe have been hit by a worldwide cyber attack. It has been reported that companies in Ireland may also have been affected, with computer systems at shipping group Maersk failing across regions including Ireland. Danish, British and Spanish multinationals have also been hit by the [...]...
  • Irish and UK retailers highlight Brexit challenges Retail Ireland, the Ibec group that represents the sector, has joined forces with the British Retail Consortium and the Northern Ireland Retail Consortium to explore the implications for the sector arising from Brexit. They will meet in Dublin with a number of Government Departments, consumer advocates and individual retailers to seek solutions to mitigate the [...]...
  • Best ever month of May for Irish tourism Commenting on figures published today by the CSO for overseas visitors to Ireland for January to May, Niall Gibbons, CEO of Tourism Ireland, said: “I am pleased to see growth of more than +3% for the five-month period January-May, coming on the back of a record performance in 2016 and years of solid growth in [...]...
  • New CEO at Barclays Bank Ireland Barclays Bank Ireland has announced the appointment of Kevin Wall as its new chief executive. He succeeds Sarah Wiggins who will take up a new role within Barclays as head of east and south east in UK corporate banking next month. Mr Wall joined Barclays in 1981 and has held a variety of roles across the business, [...]...
  • €330,000 funding announced for ‘Women’s Rural Entrepreneurial Network’ New funding has been announced for female entrepreneurs living in Cork and Limerick. The Women’s Rural Entrepreneurial Network (WREN) project will see more than €330,000 in funding, provided by the Department of Justice and Equality and the European Social Fund, allocated to promote entrepreneurial skills amongst women in these regions, through a tailored and focused [...]...

Investment in small firms increasing despite Brexit concerns

Investment in small firms increasing despite Brexit concerns
June 19
09:00 2017

The Small Firms Association (SFA) today released new data on the finance and investment priorities of small firms. Launching the new data, SFA Chair, Sue O’Neill, stated: “It is very positive to see that 51% of SFA members are growing and 72% intend to invest in their business over the coming year. This is up from 65% six months ago, demonstrating a clear sign of growing confidence in the small business sector and that firms are now realising the importance of Brexit-proofing their business. Priorities for investment include brand development (21%), staff (19%)  IT (18%),and market diversification (11%).

“It is striking to note that the intention to invest is not accompanied by widespread plans by small firms to access available credit, with only 7.9% of those surveyed saying that their current financing priority was new borrowing. Our survey results indicate that businesses are restricting their growth ambitions to what they can finance from retained earnings or personal savings which is a cause for some concern.

“The sources of finance available to businesses have never been so diverse. There is a product out there to suit almost every business– the challenge now for small firms is to understand the different finance options available to them and identify the right mix of bank and non-bank finance for their individual business.”

After investment, paying down debts emerged as the top financial priority for SFA members at 25%, rising to 30% in the wholesale, retail and distribution sector. 21% said that they are currently focused on saving.

About Author

editor

editor

Related Articles






Advertisements

































National Manufacturing Conference & Exhibition 2016

NIBRT Springboard Success Stories



Upcoming Events

  • No upcoming events
AEC v1.0.4

Join our Newsletter!



By subscribing you agree to receive updates from us by email. You can opt out of receiving emails at any time.