Geopolitical instability and cyber threats key concerns among Cork businesses 

Seven in 10 businesses have reported investing in cybersecurity over the past 12 months

Susie Horgan, President of Cork Chamber. Picture by Noel Sweeney.

Ireland's security landscape is weighing on the minds of Cork's business community, with fears of cyber threats and geopolitical instability dominating concerns. 

The latest economic trends survey by Cork Chamber found over 70% of members worried about Irish security, with government investment in critical infrastructure the top priority when it comes to protecting Ireland from security threats. 

Diversification of energy sources emerged as another key priority, with 63% stating that investment in alternative and renewable energy sources was an organisational priority.

In addition, seven in 10 businesses reported investing in cybersecurity over the past 12 months, with new software and systems, employee training and risk planning the top three areas of investment.

When it comes to barriers to improving cyber resilience, respondents reported the associated costs, as well as a lack of time, resources and expertise as the most significant challenges.

“The survey clearly illustrates the impact of ongoing geopolitical disruption on Cork businesses," said Susie Horgan, president of Cork Chamber. 

"Across cybersecurity, energy security and the security of critical infrastructure, concerns are increasing, alongside corresponding investment by organisations in resilience.

“Despite this uncertainty, business confidence remains strong, with 89% of respondents expressing confidence about the future of their business from an overall financial perspective. 

"Cork businesses have demonstrated their capacity to remain agile and dynamic time and time again in the face of external challenges. 

"However, it is vital that the government takes steps to invest in the security of our national critical infrastructure."

Concerns regarding the cost of energy and raw materials, as well as changing consumer spending, emerged as key threats to business growth reported by respondents.

However, economic confidence remains high among Cork businesses, with over 40% of respondents reporting increased turnover and net profit in the second quarter of this year.

Labour shortages 

In addition, some 42% predict an increase in employee numbers over the next 12 months, which is on a par with recent surveys, while 39% reported an increase in employee numbers this quarter. 

Of the 49% of respondents with vacancies advertised at present, 36% report difficulties with filling these roles, with specialist skills shortages emerging as the top barrier to filling vacancies.

73% of respondents expressed confidence in the Irish economy at the close of the second quarter, with the remaining 27% citing a lack of confidence in the economy, rising business costs, inflation and housing supply as the top concerns.

Stephen McCarthy, Business Banking Manager at PTSB who sponsors the survey, commented, “With 73% of responding businesses expressing confidence in the Irish economy at the close of this quarter, it is evident that notwithstanding the geopolitical backdrop, Cork businesses are in a strong position as we enter the second half of 2026.

“Looking ahead, the potential impact of rising costs on business growth is a clear concern, yet many respondents continue to report strong turnover and net profit. 

"41% of Cork businesses predict an increase in turnover in the third quarter of 2026, demonstrating the continued competitiveness and resilience of the regional economy.”