Ibec publish findings of latest CEO Survey
Ibec, the group that represents Irish business, has said that overall business sentiment remains high in the country, despite ongoing geopolitical and economic uncertainty. However, the growing cost of doing business, alongside housing challenges, and talent availability concerns are beginning to impact on the wider business environment outlook.
The findings come as part of Ibec’s annual CEO Survey, capturing the perspectives and predictions of CEOs on the major business issues. Responding to a series of questions on the year ahead and beyond, the findings provide key insights from business leaders on what they believe the business landscape will look like in 2023 and what this means for business planning.
Speaking on the publication of the findings, Ibec CEO Danny McCoy outlined: “Despite the early economic challenges of 2023, the Irish economy continues to remain remarkably resilient, with business leaders considering the business environment to be more positive now than this time last year.
“However, the majority of firms expect that the next six months will see weaker margins, driven largely by concerns on input cost inflation, rising labour costs, volatile energy markets and housing availability to name but a few factors.
“We need to see an ambitious suite of measures delivered by Government to address the challenges emerging or risk undermining future economic development. It is imperative that we now see energy support schemes be made more effective, while Government must urgently reinvigorate the policy drive around the availability and affordability of housing. Ireland must offer people good living and working conditions to sustain economic success and remain attractive to local and global mobile talent pools.”
Amongst the key findings detailed in the survey include:
- Talent still a concern for 51% of organisations, despite slower growth expectations
- Housing availability a challenge for 70% of respondents
- Planning system concerns identified by 1 in 2 CEOs
- Supply chain disruption remains a challenge for 2 out of 3 manufacturing firms.
- Energy security concerns remain a significant factor for 2023 outlook
- Businesses adapting well to new ways of working (remote working only a concern for 8%)