SME Confidence Tracker 2018 | Bibby Financial Services Ireland

What is the SME Confidence Tracker?

The SME Confidence Tracker surveys 200 of Ireland’s small and medium sized businesses on a quarterly basis. The Tracker charts the confidence of owners and senior decision-makers of businesses in manufacturing, construction, wholesale, transport, and services sectors. Fieldwork for Q3 took place throughout September 2018 and respondent businesses had an average annual turnover of €2.9m.

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Key Findings

The majority of SMEs (80%) plan to invest in their business over the next three months
Almost two-thirds (65%) of SMEs expect sales to increase in Q4 2018
More than half (56%) of SMEs are taking steps to prepare for Brexit, with 38 per cent exploring new markets and 26 per cent diversifying their business
20% say the UK’s departure from the EU is the biggest challenge they are currently facing
88% of Irish SMEs believe government needs to offer greater support
More than a third of SMEs suffered from a bad debt in the past 12 months

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