Competitiveness, cost of living and housing among key priorities for Cork businesses in Budget 2027

Geopolitical disruption and global trade uncertainty were cited as the top three emerging challenges for Cork businesses over the next three to five years

Rob Horgan, President Cork Chamber. Picture Larry Cummins

Business competitiveness measures, the cost of living and housing are the top three budget priorities for Cork businesses, a survey by Cork Chamber has found. 

Ahead of the pre-Budget 2027 period, Cork Chamber found that investment in infrastructure and connectivity was cited as the most important priority for investment in Ireland’s overall economic competitiveness.

Some 95% of Cork businesses believe that additional government support is needed to ensure the delivery of key strategic projects underway in the Cork region. 

In addition, rising operating costs were cited as among the top three emerging challenges for businesses over the next three to five years. Cork Chamber also pointed to geopolitical disruption and global trade uncertainty as key challenges emerging for Cork businesses in the wake of the war in Iran.

Commenting on the results, Cork Chamber President Rob Horgan said: “The results of the survey for this quarter illustrate the importance of enhancing Ireland’s economic competitiveness to mitigate the impact of geopolitical disruption and global trade uncertainty.

“From a domestic point of view, respondents emphasised the importance of investments in transport and connectivity to support economic competitiveness into the future. 

"Supports for SMEs and start-ups, as well as utilities cost supports, were also highlighted by Cork’s business community as key priority areas for Budget 2027.” 

Despite growing uncertainty and fears of rising geopolitical tensions, overall business confidence among respondents remained high at 92% in the last three months.

Noting this, Mr Horgan said: "The resilience of Cork business is evident from the survey results. To sustain economic and population growth into the future, continued investment in key projects of strategic importance for the Cork region in Budget 2027 will be vital.”

Stephen McCarthy, Business Banking Manager at PTSB, which sponsors the survey, said: “It is encouraging to see levels of business confidence among respondents remaining high. Confidence in the Irish economy as a whole was also high at 78%.

“Although Cork’s business community reported an increase in concerns regarding the impact of geopolitical disruption and trade uncertainties, it is clear that they are in a strong position.”