Almost half of small firms still contracting

JUST under 50% of Irish firms remain in a state of contraction, according to a new report, suggesting that the jobs challenge facing the economy is likely to persist rather than relent in the near future.

Some 48% of Irish companies with less than 10 employees currently describe themselves as either contracting, trying to survive, or winding up; according to the latest Business Monitor from the all-island trade body, InterTrade Ireland.

The monitor, which surveys 1,000 companies across Ireland on a quarterly basis, shows that “only” 14% of firms with over 50 employees are in the same boat.