Only 56% of businesses optimistic about 2023

Irish businesses are increasingly concerned about the country’s economic outlook, according to the latest Grant ornton International Business Report (IBR) which found that only 56% of Irish businesses are optimistic about the outlook of Ireland’s economy for the next 12 months compared to 85% in the same period the previous year.

Despite this signi cant drop, Irish businesses are still more optimistic about the economic outlook than the rest of the EU at 43%.

e dip in optimism is matched by a downward trend in businesses who expect revenue to increase in the coming 12 months. Only 56% of Irish businesses expecting an increase in comparison with 60% in H1 2022 and 63% in H2 2021. e report also nds that just 58% of businesses are expecting to increase investment in talent for the coming 12 months, which has declined from 63% in H1 2022.

Commenting on the ndings Grant ornton Ireland

Managing Partner Michael McAteer said: “ e year 2022 was in many ways another challenging year for Irish businesses. As we emerged from tion engine car sales have already made the continent the largest market for the cars, and these targets have been made more ambitious with the vote today.

Speaking following the vote in the European Parliament, MEP for Ireland South Grace O’Sullivan said: “About 18% of Ireland’s total emissions come from road transport so this is a crucial sector to support in the transition to a more sustainable future. It’s also one of the only areas where we already hold all of the keys to solve the issue at hand — strong investment in public transport, pedestrian friendly towns and a ordable electric vehicles. Rural Ireland in particular should be supported as a priority.” is legislation marks a step forward in terms of climate ambition and includes a bonus for car manufacturers who improve their electric vehicle output. e measure faced strong lobbying from the car and fossil fuel industries.

“ e vote on ‘CO2 emission standards for cars and vans’ passed in the European