Ibec warns that struggling SMEs may need extra financial help

70% of survey respondents are as confident now as they were six months ago — but 25% said they expected turnover to fall

Ibec's survey found that costs associated with energy, inflation, and labour were leading concerns in the experience economy which includes hospitality, retail, travel, food, drink, tourism, and entertainment.

A leading business representative group has warned that SMEs may need further financial support in the coming weeks as some firms fear costs will intensify.

Lobby group Ibec said the recently announced €250m package for SMEs will not be adequate to help firms cope with lingering cost challenges.