Half of all firms in ‘survival mode’

ONE in every two businesses is in survival mode, with the growth plans of one in three enterprises constrained by a lack of access to finance, according to a survey to be published today.

The latest InterTradeIreland Business Monitor survey for Q3 indicates that a lack of finance for investment is constraining growth for a third of businesses in Ireland.

Director of strategy and policy with InterTradeIreland, Aidan Gough, said: “We are faced with a complex trilemma; a decline in customers, a fall in confidence and contraction in cash, with each reinforcing the other, creating a vicious circle that is difficult to break out of.