High costs top exporters concerns

HIGH labour and energy costs and fluctuating currencies, rather than banking facilities, are the main concerns for exporting companies, according to a new survey from the Irish Exporters Association (IEA).

“Bank approval times for credit facilities are lengthening and there is expected to be a continued premium on the ability to cash flow export growth, hence the IEA are calling for the introduction of a Government-backed export credit guarantee scheme.

“This will encourage exporters to go more aggressively into the rapidly growing BRIC economies (Brazil, Russia, India and China). And will go a long way to relieving the banking credit and back -up security issues,” said IEA chief executive, John Whelan.