Recruitment concerns among small firms remain key issue for growth

BPFI's SME Monitor warns that small and medium-sized construction firms are particularly vulnerable to recruitment issues

Small and medium-sized businesses employ the majority of people in Ireland but with unemployment reaching record low levels this year there is not much room to grow.

Small firm operators remain concerned that the chronic tight labour market will hit their growth plans, a new survey by the Banking and Payments Federation of Ireland (BPFI) shows.

Recruitment issues and rising business costs amid an inflationary and high interest rate environment continue to put pressure on small firms despite Ireland’s “buoyant” economy, said the banking sector representative group.