The final economic trends survey of 2019 reports on member experiences during October, November and December. The survey asked the thoughts of the Cork business community on Q4 2019, and the outlook for Q1 2020 on business confidence, the operating landscape, skills and for their overall economic perspective. Quality of life for citizens is a key pillar in developing a successful location for investment and skills. To this, arts, culture and placemaking are fundamental, and we explored the role of public art and placemaking as part of our recent survey.
CULTURE & PLACEMAKING
Placemaking and Quality of Life Key to Cork’s Success
“Quality of life for citizens is a key pillar in developing a successful location for investment and skills. Within this, arts, culture and placemaking are fundamental and in our recent survey we explored this topic further.
Across the business community, we received a resounding endorsement of the efforts to enhance the public realm with 92% of respondents confirming that art in public spaces enhances the experience for residents and visitors alike."
There is a marked increase in business confidence at 93%, up from 88% in Q3.
Through the survey results, we have seen a healthy increase in business confidence with 93% of respondents indicating confidence, up from 88% in Q3. In relation to turnover, 63% of businesses indicated an increase, with 53% expecting turnover to increase in Q1 2020. This is a very positive way for Cork business to enter what is sure to be another successful decade and Ulster Bank is proud to work with SMEs in Cork and right across the country every day.”
55% of respondents expect employee numbers to increase over the next 12 months.
While there is a decline in respondents reporting an increase in employee numbers in Q4 at 36%, from 49% in Q3, we do see an increase in responding businesses indicating that employee numbers have stayed the same in Q4, at 57%.
With this we see 55% of business also reporting that they expect employee numbers to increase over the next 12 months, at 45% in Q3.
“Brexit remains the top ranking threat to business growth across the region.Skills availability has moved up to the second greatest threat to business growth.
