More gloom ahead, predict business chiefs

BUSINESS leaders predict another gloomy year for companies.

Massive insurance hikes, increased wage bills and spiralling inflation combined to make 2002 a bad year. However, business leaders say the situation will get even worse if the US goes to war with Iraq and benchmarking payments are approved by the Government.

The Irish Small and Medium Enterprises organisation says firms suffered particularly badly from internal and external pressures in the last 12 months, according to an end of year survey.