Half of SMEs now ‘stable and growing’

Just under half of smallbusinesses are now stable and growing, which is the highest level since 2008, according to InterTradeIreland’s Business Monitor for the three months to the end of September.

“Figures indicated that almost nine out of 10 businesses are either stable (43%) or growing (45%). This is the highest percentage of firms reporting to be in growth mode since the recession began and is almost double the number of firms in growth mode compared to this time last year (26%),” said the report.

The business monitor found that 12% of firms started increasing staff levels in the third quarter, which is up marginally from an 11% increase in the second quarter. There has been a 10% increase in profitability from the second quarter, with 59% of firms reporting an improved outlook at the end of September.