Members’ Newsletter
August 2026
Message from the CEO
Dear member,
After much ballyhoo from certain quarters about how well things are going for Irish SMEs, Deloitte issues their insolvency statistics for the first half of the year. Deloitte reports on insolvency quarterly, so they’re a pretty reliable indicator of what is happening businesses in trouble. The key findings are:
• Court liquidations are up 69%
• Hospitality sector insolvencies are down- but the VAT drop is unlikely to help them, as labour and energy costs are the more significant burden.
• Voluntary and court liquidations combined are at their highest level since before the pandemic.
• There was a 4% increase in SCARP applications, but their overall numbers continue to be low.
• 80% of insolvencies are now liquidations, compared to 75% a year ago. This means that fewer of them are fit for restructure.
We’re now in the run-up to Budget 2027. There is much kite-flying about a package for PAYE workers, who got no benefit in Budget 2026. However, for us, we want to see a package that encourages SMEs to scale, and we set this out clearly in our Pre-Budget Submission. We will be send all members a local lobbying template, and we ask you to get involved with your local TDs, ministers and senators towards the end of Augus, ahead of final budget negotiations
The conflict in the Gulf shows signs of escalating, not abating. If this continues, we can expect significant increases in the prices of diesel, kerosene, natural gas and electricity this winter. This would put very great pressure on the government at a time when opposition parties, regrettably, are still calling for an expansionary budget.
Even without the impact of war, electricity prices are set to rise because of increased network charges. This is an issue we will track- Eirgrid returned a massive dividend to government this year, and our expectation is that increased costs can be absorbed.
The Low Pay Commission issued its annual report to Minister Peter Burke in the third week of July. As a member of the Commission, I cannot comment on it, other than to say that the leaked report of a recommended €0.79 increase was very regrettable and does not reflect fully on the final report. Our Chair Finbarr Filan will take the lead for ISME on formal commentary on the national minimum wage
ISME news
Latest Updates on Sectoral Employment Order (Construction Sector)
The Sectoral Employment Order (Construction Sector) 2023 came into operation on 18 September 2023 and was updated on 5 August 2024. The order fixes the statutory minimum rates of pay for craftspeople, construction operatives and apprentices employed in the construction sector. It also sets other conditions, for example, sick pay and pension entitlements.
Under the Sectoral Employment Order (Construction Sector) 2024 the minimum rates of pay increased by 3.4% on 1 August 2025. Pension contributions and sick pay entitlements are also amended by the order.
Minimum rates of pay under this Sectoral Employment Order (Construction Sector) 2024 (SEO) are increasing again from the 1st of August 2026.
The SEO sets minimum pay rates, pension contributions, and sick pay entitlements for approximately 50,000 qualifying construction workers.
There are 2 criteria which decide who is covered:
• The Employer must operate in the construction sector, and
• It applies to employees who work in the sector and defines their roles into specific classes; apprentices, new entrant operatives, construction operative or craft person.
The SEO defines what activities place an Employer within the construction sector and what experience and qualifications place a worker in a particular Employee class.
Log in to our HR Hub for more information.
Spend local this summer
We want to continue our Shop Local message with our Summer Spending campaign encouraging people to Think Local for holidays, activities, entertainment and shopping.
ISME Members can advertise for free so please add your details here if you would like your business featured or to update your existing ad in our Shop Local portals. To find out more please contact marketing@isme.ie
ISME news
Streamlined Funding Access for Irish SMEs with ISME Finance Finder
The ISME Finance Finder, developed in partnership with Swoop Funding, is an online platform designed to streamline access to finance for Irish SMEs. It offers a centralized solution for businesses seeking funding options to start, expand, improve cash flow, refinance debt, acquire assets, or invest in new markets.
Additionally, businesses can avail of a complimentary 30-minute one-on-one consultation with Swoop's funding experts, offering confidential and obligation-free advice.
For more information or to begin your funding journey, visit the ISME Finance Finder.
SEAI free online workshops: Sign up now!
The Sustainable Energy Authority of Ireland is running a free online workshop on on Thursday 13th August 2-4pm, and again on Tuesday 8th September 11-1pm, teaching the basics of implementing energy management within your SME.
This workshop will be delivered by one of Ireland's leading energy experts and will take
you through the six steps to creating an energy action plan, which will help you implement energy management practices in your business, save money, become more energy efficient and resilient to rising energy costs.
To learn more and register your interest please click here: Introduction to Energy Management Training
Please note this training is open to Irish businesses and is not open to energy industry or energy professionals/consultants at this time.
ISME news
To support Members to deal with the ever-changing world of HR and employment law, we have created a portal to give you access to guides, templates, contracts, policies and more to support you in managing HR in your business. We have curated the information based on the HR Life Cycle: Attraction, Recruitment, Onboarding, Policies & Training, Performance Management and Exit.
You can also find information from government agencies and other third parties in our General Information & Resources page, links to the top downloads and view our selection of blogs including Statutory Sick Pay FAQs and EU Directive on Transparent and Predictable Working Conditions.
To find out how it works and looks, click on the video about the portal here. To use the ISME HR Hub log into the Members Area, click on the top left button.
ISME Business Trends Survey: Q2 2026
With business costs continuing to rise we are yet again living in challenging times. We want to hear from you on how your business has been impacted and your thoughts on current issues. Please take 5-10 minutes to complete our Q2 Trends Survey 2026.
All our surveys inform our lobbying on your behalf to government, so it is vital we capture as many experiences as possible. The Trends Survey provides us with the latest up to date information on pay, insurance costs and confidence indicators in the SME sector.
The findings of these surveys will be circulated to media and will feed into relevant groups and committees ISME sit on. Reports will also be uploaded to the ISME website
Complete the survey here
Please share this survey with your network. ISME
ISME news
Health & Safety Authority Update
❑ Workplace Occupational Safety and Health Training (HSA Resources): Employees require Occupational Safety and Health (OSH) training at different points in time. Providing comprehensive occupational health and safety training for staff is essential to fostering a safe and healthy workplace environment. The provision of training helps reduce the risk of work-related injuries and ill health. This page provides links to information including the employee OSH learner journey, workplace OSH training requirements and approach, tips for procuring training, training providers, hsalearning.ie and more.
❑ Code of Practice: Safe Use of Industrial Trucks: This Code of Practice provides practical guidance on compliance with legislation related to the use of rider operated industrial trucks in all workplaces.
❑ Driving for Work: Risk Management Guidance for Employers: This guidance document has been jointly developed by An Garda Síochána, the Health and Safety Authority and the Road Safety Authority to help employers understand and manage the main risks that working drivers face and create when driving for work.
❑ Annual Review of Workplace Injuries, Illnesses and Fatalities 2022–2023 report presents the Annual Review of Workplace Injuries, Illnesses, and Fatalities for 2022- 2023. In preparing this report, we recognise the importance of providing reliable and up-to-date statistical information as an evidence base for decision-making.
❑ A Short Guide to Health Surveillance in the Workplace aims to assist employers and health professionals working on their behalf in understanding their legal requirements regarding health surveillance in the workplace. It also highlights the key elements to consider when implementing a health surveillance programme.
❑ Employing Apprentices: Safety On the Job information sheet is written for people who employ apprentices. It provides a summary overview of how employers should fulfil their duties as an employer and protect apprentices, who may be more at risk of injury and ill health.
❑ Safety On the Job for Apprentices- This information sheet is written for Apprentices. It provides some essential tips to help Apprentices stay safe and healthy as they start their career.
Market Updates
What’s happening in foreign exchange markets?
Key events that influenced foreign exchange markets in July
• The key US Nonfarm payrolls increased by 57,000, slower than the downwardly revised 129,000 added in the previous month and worse than the 115,000 Dow Jones consensus forecast.
• The European Central Bank kept interest rates unchanged as expected but held the door open to another increase in September as renewed conflict in the Middle East has largely erased any hope of a quick moderation in energy costs.
• The US Federal Reserve opted to keep rates steady in a range of 3.5% to 3.75%. New Fed Chairman Kevin Warsh said that while the Fed won’t provide hints on where rate policy is heading, it will take necessary steps to meet its 2% inflation goal.
• The Bank of England kept interest rates unchanged for the fifth meeting in a row but indicated that it could raise them if the Iran war escalates.
• Throughout the month, higher energy prices, on the back of the renewed tensions in the middle east, remained one of the dominant economic themes.
What data and factors could impact the major currencies in August?
• Thursday August 6th – Euro Area retail sales
• Friday August 7th - US Nonfarm Payrolls employment data
• Friday August 14th – Eurozone GDP Growth rate year on year
• Tuesday August 18th - German ZEW Economic Sentiment
• Wednesday August 19th – Release of US Fed July meeting minutes (will be scrutinised for future interest rate expectations)
As an ISME member, you have exclusive access to Fexco’s dedicated account manager John Barry, who will help you with all your foreign exchange requirements.
• Reduce your cross-border payments costs
• Protect your business from currency volatility
Discover the benefits to your business without an obligation to trade!
Learning & Development S.T.A.G.E.S Mentoring Programme
We are delighted to announce the launch of the S.T.A.G.E.S mentoring programme, whereby Irish SMEs can avail of fully-funded business consultancy services to help with Innovation and Entrepreneurial Practices. This mentoring programme is delivered by ISME Skillnet and will provide fully subsidised one-to-one mentoring. This programme is designed to help your business address real-world challenges and opportunities at each stage of your development, with expert-led sessions tailored to your specific goals.
An SME engaged in this important programme can avail of two 6-hour mentoring engagements with an accredited expert mentor / business coach.
The programme will commence in August 2026 and run until the end of the year, so get in touch with us as soon as possible to secure your place.
To secure your spot, we kindly ask that you take your time to complete the form below. The more information you provide on your strategic initiatives, the easier it is for us to align you with a suitable expert.
Once you’ve submitted the form, we’ll review your responses and begin the process of pairing you with a mentor who aligns with your goals and industry needs.
If you have any questions in the meantime, please feel free to reach out to us at stages@isme.ie or learn more here
Complete the form here
Learning & Development
The ISME Skillnet service is here to help both the business owner and their employees.
ISME Members can receive up to 40% discount on ISME Skillnet training, view courses below.
COURSE
MS Excel Intermediate
Wednesday 5th August View Course
MS Excel Advanced Wednesday 12th August View Course
MS Excel: Dashboards And Data Visualisation
Microsoft Excel Creating & Working with Pivots
HR Bite Sized Essential’s
Thursday 20th August View Course
Wednesday 26th August View Course
Tuesday 8th September –Tuesday 17th November View Course
Present Like a Human, Not a Script Thursday 10th September View Course
SCAN THE QR CODE TO FIND THE FULL LISTING
