Survey: half of firms expect turnover to increase

MORE than half of 120 Mid-West business surveyed by Limerick Chamber of Commerce predict increased turnover levels for the next six months.

And the survey, the first of its kind and which will be carried out quarterly, found that Mid-West businesses anticipate they will outperform regional growth indices.

The findings of the survey carried for the chamber by BDO Simpson Xavier, showed a small number, 7.8%, anticipate a fall in turnover.

The surveyed businesses also anticipate they will exceed sector growth figures.

But they warn that rising overheads, lack of proper road infrastructure and broadband availability were limiting growth potential.

The availability of suitably qualified staff was also a major issue for Limerick city businesses, with 44% rating it as a very significant factor, compared to 20% in Co Limerick and 30% in Clare.

Businesses indicated their greatest level of investment will be in the areas of IT and marketing over the coming six months.

Of those involved in R&D, 40% said their investment in this area would increase over the next six months while the remaining 60% said they would sustain current levels of investment.

Commenting on the results, Limerick Chamber of Commerce president, Robert Graydon, said: “This survey will be a valuable tool which will allow us to track business performance in the region over the years to come.

“I am delighted that we can say there is a general air of confidence amongst our respondents concerning their own businesses. However, I would be concerned about the lower levels of confidence that our respondents would have about regional economic conditions.”

He said this showed Mid-West businesses want the Chamber to ensure that Government policy concerning regional support and development does not forget the Mid-West.

Mark O’Connell of BDO Simpson Xavier said: “We constantly read about national performance indices, but undertaking this quarterly survey now gives us an opportunity to measure how Mid-West businesses rate the local operating environment.”