According to an AIB survey, a net 56% of Irish firms are anticipating higher average staff costs this year, which is well above the global average.

Irish business sentiment reached a new nine-year high in the final quarter of 2015, according to a report released today.

Close to 4,000 startups were established last month as improving economic conditions encouraged more entrepreneurs into the world of business.

Business activity and personnel hiring are both expected to continue growing strongly this year on the back of a marked increase in economic confidence.