Irish SMEs expect economic climate to worsen this year

Small firms report pressure due to surging costs but also the difficulties they face in recruiting staff, according to Azets

Azets Ireland CEO Neil Hughes: 'It’s clear from our latest survey that inflation is proving to be a significant challenge for SMEs...' File picture

Irish small businesses are facing hits from a surge in costs and the huge rise in interest rates and expect business conditions to worsen as the year goes on, according to a leading accounting adviser to SMEs.

Azets Ireland — which was formerly known as Baker Tilly before its takeover and renaming — said its major survey of small businesses also showed firms were facing difficulties in recruiting staff.