Buckle up: 2024 likely to be the most interesting year in decades

The domestic and global economies weathered many storms during 2023 but more challenges are in store for the year ahead

The most disruptive event in 2024 could be the re-election of Donald Trump to the US presidency.

2023 started on a note of real optimism. The covid restrictions were a thing of the past, and the economy was rebounding. Domestic business delivered in spades for Ireland and we rapidly reached full employment. Inflation was of course a concern but everyone who wanted a job had one.

For those businesses in trouble, 2023 was the year we saw the newly-enacted SCARP process start to work. The Corporate Enforcement Authority notes 46 SCARP applications since 2021, of which 10 have a rescue plan in place. SCARP was never intended to “raise the dead,” merely to ensure that vulnerable but viable businesses could continue if they had a chance to do so. It is clearly working and is a real feather in the cap for our colleagues in the Department of Enterprise.