Survey finds cash flow is not a concern for most businesses
Generating new business is the chief concern for 60% of organisations ahead of managing a remote workforce on 30%. Picture: iStock
Just 8% of Irish businesses cited cashflow as a concern for their company in 2021 according to a new business survey.
More than 250 financial organisations throughout the country, took part in the survey from the Association of Compliance Officers of Ireland (ACOI), to gain insight into the challenges.
The results show that generating new business is the chief concern for 60% of organisations ahead of managing a remote workforce (30%), while more organisations now believe that Covid-19 is likely to have a bigger impact than Brexit on their success or otherwise in 2021.
The ACOI said financial planning and cash flow projections on the part of business owners, plus an increase in the financial supports available is the likely reason for the low level of concern over future cash flow despite the uncertainty over Ireland's future economy given the ongoing lockdown and rollout of the vaccination programme.
Michael Kavanagh, CEO of ACOI said the amount of organisations concerned about generating new business and managing their remote workforce has increased since the same survey was conducted six months ago. "Things are definitely not getting any easier in either regard," he said.
"How to tackle these issues under the continuing spectre of Covid-19 is fraught with difficulties, but it is all our hope that as the year plays out, Government supports, coupled with greater economic certainty and stability, might assist these organisations to rise to and overcome these challenges.”
Approximately 29% of remaining respondents now feel the Covid/Brexit split would have the greatest impact compared with 35% in the previous survey, and just 6% now feel that Brexit is their organisation’s biggest consideration.
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