In the latest Cork Chamber Economic Trends Survey, Cork Chamber asked the business outlook on the second quarter of 2021 and the year ahead, and member thoughts on the most recent business quarter, Q1 2021. This encapsulates a period within which Ireland moved into the third level 5 lockdown. We report on business experiences and the overall operating landscape. We also asked a number of questions on business priorities for the Cork region, and business action areas under the UN Sustainable Development Goals. Also known as the Global Goals, the UN SDGs which were adopted by all United Nations Member States in 2015, set out an international blueprint to achieve a better and more sustainable, resilient future long term and for all.
PRIORITIES AND ADVOCACY
The Q1 2021 survey asked business members whether the SDGs currently formed part of the business strategic planning and decision making.
"We saw a very positive steadying of business confidence in this first quarter with 84% of respondents reporting business confidence, consistent with the previous quarter Q4 2020 which noted 83% of respondents indicating confidence, an upward trajectory from the 68% in Q3 of 2020." Paula Cogan, President of Cork Chamber.
43% of respondents are expecting an increase to employee numbers over the 12 months ahead
"With businesses clearly planning for the reopening, Government must support this planning with timely engagement that supports and facilitates these efforts, offering as much certainty and communicating on developments as early as possible to the business community." Paula Cogan, President of Cork Chamber
As with previous quarters, Covid-19 ranks as the top threat to business growth with the only change being the increased ranking of cost competitiveness, replacing changing consumer spending and reduced orders in the top 3.
Our thanks to everyone taking the time to complete this survey. Your feedback helps us build a more resilient economy for Cork. The winner of our Q1 participants prize is Anthony Morrissey, Business Development Manager, Munster Rugby who will receive a €100 Cork Chamber giftcard.