Business man on phone

SMEs: Focusing on growth for 2022

Quarter 4, 2021
Business woman

SMEs: Focusing on Growth for 2022

Our research among SMEs across Ireland reveals an optimistic, yet cautious business population.

While it is evident the impact of the pandemic on businesses has been significant, many are eager to plan ahead and to take advantage of returning consumer demand over the coming months and into 2022 as we businesses recover from the pandemic.

Download the report

Key findings:

  • 45% say it is taking longer for business customers to pay since the start of the pandemic
  • €28,164 is the average amount lost by each business through bad debt since the pandemic
  • On average, payment has been delayed by almost five weeks for those experiencing extended payment times
  • 87% expect to invest in their businesses over the next 12 months
  • Almost two-fifths (38%) of businesses say they need additional funding to grow in 2022
“Our new report shows there is genuine light at the end of the tunnel both for businesses and the economy. The time has come to begin to move forward with confidence. ”

MARK O’ROUKE, MANGAING DIRECTOR, BIBBY FINANCIAL SERVICES


 

Business man on laptop

Further statistics

  • 45% believe a return of demand to pre-pandemic levels will happen within the next six months
  • 84% say they are confident about their business prospects, despite challenges
  • 54% of SMEs say that attracting new customers is their greatest opportunity in 2022
  • €114,338 is the average amount SMEs expect to invest this year, with staff recruitment and training the key areas of investment

What could you do if your outstanding invoices were paid today? Contact us to find out how to unlock the cashflow tied up in your business today.

Download the report
Email

Interested in more business news and insights?

We care about the protection of your data. read our Privacy policy

Related Content

woman in office
Report

Irish SMEs and Covid-19

The Bibby Financial Services Covid-19 Pulse Survey of 200 Irish SMEs and business owners
Business man on phone
Report

SMEs: Focusing on growth for 2022

Our latest study of businesses across Ireland
Garry Holligan
News

BFS Ireland appoints Garry Holligan as BDM for Greater Dublin area and Eastern Ireland

Bibby Financial Services Ireland, has appointed Garry Holligan as Business Development Manager for the Greater Dublin area and Eastern Ireland.
Handshake
News

Permanent TSB and Bibby Financial Services Ireland unveil exclusive partnership

Permanent TSB and Bibby Financial Services Ireland unveil exclusive partnership offering Irish SMEs funding solutions designed to improve cash flow or finance growth plans