Survey shows that business nerves are on edge


Dealing with the real impact of the current volatile economic environment on the Irish economy is no easy task.

A new Economic Pulse poll from a part of the country home to a large number of both multinational and domestic companies suggests that companies are keenly concerned about Ukraine’s ongoing war, rising inflation, staff shortages, tying-up of employees, etc. real estate crisis.

The County Kildare Chamber’s biannual membership pulse survey, which surveyed 207 companies employing 28,000 people, found that 88 per cent were either concerned or extremely concerned about the impact of the ongoing crisis in Ukraine on their operations and profitability.

It also expressed concern about the challenges posed by teleworking and flexible working, as well as a high level of uncertainty about Ireland’s fiscal outlook for the year ahead. 51 percent of companies said employee retention and hiring is their biggest challenge.

Kildare Chamber CEO Allan Shine said the region is “an important engine room of the Irish economy” with 1,600 jobs announced at Intel and a number of other vacancies in the past two months. However, he said caution was needed and that the war had led to “runaway inflation that will hurt competitiveness”.

“We need the government to act wisely and look at various tax incentives and funding for businesses – particularly with regards to offsetting energy costs for businesses and expanding work permits immediately.”

Curragh’s sales have been stunted by Covid

Things have been tough for most horse racing courses during the Covid lockdown.

According to figures from Curragh Racecourse, sales in 2020 fell from over €8.27million to nearly €5.5million, largely due to Covid jumping out of the traps.

Curragh CEO Brian Kavanagh said that like all companies, they have been hit hard by the pandemic, effectively operating behind closed doors. He said the racecourse needed to adjust its business. The training center was able to continue working largely unaffected.

“Fortunately, the Curragh has returned to normal in 2022,” he added. Their next meeting will be on the May bank holiday weekend.

Etsy wants to set up a payments subsidiary here

Etsy, the New York-headquartered e-commerce company that enables people to buy and sell handmade and vintage items, is seeking approval from the Central Bank of Ireland, an EU-wide subsidiary for payments in Ireland to found.

The company, which is listed on Nasdaq at a valuation of over $14 billion, unveiled the plan via a job listing it posted on its website. According to the RFP, Etsy is looking for a Director of Payments Regulatory Operations based in Dublin. Survey shows that business nerves are on edge

Fry Electronics Team

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