Top directors report cash issues during Covid-19 crisis         

Top directors report cash issues during Covid-19 crisis         

Maura Quinn, CEO of the Institute of Directors (IoD) in Ireland.

A large number of Ireland's top business chiefs have already faced cash flow worries or are concerned about liquidity for their organisations this year. 

That is the main finding of a survey by the Institute of Directors who said they are publishing the results as the Government prepares to publish its summer stimulus package for an economy ravaged by the Covid-19 fallout. 

"Cash flow issues, incurring debt, and the impact of Covid-19 on their organisations’ bottom line for 2020 are among the chief concerns of business leaders," the IoD said.

The IoD said 38% of chief executives and chief financial officers predict cash flow "issues" in 2020; 36% of the leaders have already experienced cash flow issues in recent months; and 26% said the businesses they lead had already taken on more debt amid the Covid-19 crisis.

The survey also confirms many business chiefs expect a "significant" effect on profits from the Covid-19 fallout this year.

“The impact of Covid-19 on Irish business and society has been sudden, significant and, indeed, transformative in many ways," said Maura Quinn, chief executive of the Institute of Directors in Ireland. 

"Many business leaders are battling to keep the show on the road and are experiencing cash flow issues and taking on more debt," she said. 

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