Directors want greater focus on growth

Three-quarters of company directors are not satisfied with how quickly the Government is improving the State’s economic health, while a similar amount feel our graduates are not prepared for the workplace.

Similarly, 67% of directors are dissatisfied with the Government’s level of support to business growth.

However, the results of research undertaken by the Institute of Directors also show that 60% of directors feel the Coalition has performed adequately, or well, in its first two years in office, although 25% said it needed to improve its performance.

The latest survey finds that half of directors say that their business intends to create more jobs over the coming year.

According to IoD chief executive, Maura Quinn: “While it is encouraging to see that directors are generally optimistic about future job creation in their own businesses, there is a real concern among directors that Government is not doing enough to support business growth, and they want to see Government focusing its efforts on addressing unemployment and supporting jobs growth in the year ahead.”

Respondent directors said that the savings made from the Anglo Irish Bank promissory note deal should be directly invested in supporting jobs growth, adding that they view the areas of foreign direct investment, technology and agri-food as Ireland’s greatest economic opportunities. The global recession, the mortgage arrears problem and high unemployment pose the greatest risks to Ireland’s economy, the survey said.

Other findings were that nearly 40% feel that addressing unemployment should be the main priority for Government in the year ahead, with just over 30% feeling the same about public sector reform.

More than half — 52% — of directors are concerned about Government spending, however, with them feeling that spending is “poorly managed” at present.