Cork businesses showing optimism

Cork businesses appear to be more optimistic about their future, compared to this time last year.

A survey by the Cork Chamber of Commerce found 85% of respondents have no plans to reduce employment over the next 12 months.

However, it also confirms that small firms are shying away from asking their bank for credit.

This survey was completed by 150 businesses in Cork during the second quarter - 75% of whom said they were "confident" about their firm's financial future. That marks a 16% increase on the same period in 2009.

More than a third of respondents say they actually have plans to increase employee numbers over the next year, while 85% say they have no plans to reduce their workforce any further.

However, when it comes to finance, banks, it seems, are now being avoided.

Some 80% of firms say they are not currently seeking bank finance.

Prompting the question from the Cork Chamber of Commerce whether small and medium sized enterprises have no requirement for additional funding at present - or whether they have they simply given up dealing with the banks.

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