Economic Trends - Economic Trends Q1

Economic Trends - Economic Trends Q1 - 2023 https://corkchamberofcommerce.newsweaver.ie/92gv4l1ukx/ en-us 06 Apr 2023 02:48:03 IST 06 Apr 2023 02:48:03 IST https://corkchamberofcommerce.newsweaver.ie/92gv4l1ukx/rss.xml Newsweaver conor@corkchamber.ie (Cork Chamber of Commerce) support@newsweaver.ie (Newsweaver) 60 true Survey Results https://corkchamberofcommerce.newsweaver.ie/92gv4l1ukx/btchiw2qiz5?lang=en?rss=true In the first Economic Trends survey of 2023, Cork Chamber asked members about their experience of the most recent business quarter, Q1 2023 (January, February, March) along with the ongoing business impact of high energy costs and skills gaps. This Economic Trends Q1 2023 captures a snapshot of business experiences and of the overall operating landscape at the start of 2023 in a period which saw ongoing challenges as energy costs and uncertainty in the global economy remained high. 14 Apr 2022 12:00:00 IST 844ee21e900f721884610ed82f805e08 FEATURE_ARTICLE-clone-32694127-20220414-090757 In the first Economic Trends survey of 2023, Cork Chamber asked members about their experience of the most recent business quarter, Q1 2023 (January, February, March) along with the ongoing business impact of high energy costs and skills gaps. This Economic Trends Q1 2023 captures a snapshot of business experiences and of the overall operating landscape at the start of 2023 in a period which saw ongoing challenges as energy costs and uncertainty in the global economy remained high. Q1 2023 Trends https://corkchamberofcommerce.newsweaver.ie/92gv4l1ukx/sgd7pyr7fjr?lang=en?rss=true [ https://www.youtube.com/embed/xXBldVwF914 ] 06 Apr 2023 12:00:00 IST 7e3aa5701daf50cd4984a03ded121a45 FEATURE_ARTICLE-clone-32694127-20220414-090757 [ https://www.youtube.com/embed/xXBldVwF914 ] Business Priorities for Budget 2023 https://corkchamberofcommerce.newsweaver.ie/92gv4l1ukx/1bzwpt019i3?lang=en?rss=true Persistently high energy costs have triggered a reduction in profitability for 73% of businesses surveyed, compared to 29% in Q1 2022. Fortunately, businesses continue to take proactive steps to cushion the blow of these impacts and reduce their greenhouse gas emissions with 21% of companies increasing investment in energy efficiency measures and 8% investing in renewable energy. 19 Apr 2022 12:00:00 IST cf421fc36b03ec3f5eafbba16668c771 ARTICLE_1_COLUMN-clone-32694133-20220405-141712   Persistently high energy costs have triggered a reduction in profitability for 73% of businesses surveyed, compared to 29% in Q1 2022. Fortunately, businesses continue to take proactive steps to cushion the blow of these impacts and reduce their greenhouse gas emissions with 21% of companies increasing investment in energy efficiency measures and 8% investing in renewable energy. http://corkchamberofcommerce.newsweaver.ie/v3files/shard1/8881/3f/8e6d14212d5537361eb415.jpg Skills Gaps https://corkchamberofcommerce.newsweaver.ie/92gv4l1ukx/15lp9q4a5iw?lang=en?rss=true Skills gaps exist across the board for all businesses, but with sustainability (26%) and management development (26%) needs most required to bridge the gap as businesses continue to embed sustainability into all activities. Almost 40% of companies are using flexible working arrangements to combat skills gaps, signalling that flexible working is more attractive to the workforce. 13 Jan 2023 12:00:00 GMT 7d9e94157841deec254870e8ac7d3b12 ARTICLE_1_COLUMN-clone-32694133-20220405-141712 Skills gaps exist across the board for all businesses, but with sustainability (26%) and management development (26%) needs most required to bridge the gap as businesses continue to embed sustainability into all activities.   Almost 40% of companies are using flexible working arrangements to combat skills gaps, signalling that flexible working is more attractive to the workforce.   http://corkchamberofcommerce.newsweaver.ie/v3files/shard1/8881/6b/61d3ecf5a098386ab9be10.jpg Changes to Employee Numbers over Q1 2023 https://corkchamberofcommerce.newsweaver.ie/92gv4l1ukx/1r7a1811kes?lang=en?rss=true Hiring continued to be strong through this quarter with 42% of businesses increasing their headcount and only 10% cut their numbers, and 48% of businesses said their staffing stayed the same. 19 Apr 2022 12:00:00 IST b9d9859e0446b3d1ba4b3909a76f71fc Two Column Articles - Hero Image Hiring continued to be strong through this quarter with 42% of businesses increasing their headcount and only 10% cut their numbers, and 48% of businesses said their staffing stayed the same. http://corkchamberofcommerce.newsweaver.ie/v3files/shard1/8881/19/e712e4268c889972a1c5f6.jpg Top barriers to filling vacancies https://corkchamberofcommerce.newsweaver.ie/92gv4l1ukx/1915vsvmikl?lang=en?rss=true Businesses continue to plan to increase employee numbers, with 58% expecting to increase their headcount (53% in Q4 2022). However, specialist skills shortages are reported as the ongoing top barrier to filling vacancies (51%), a trend that was consistent across 2022, 19 Apr 2022 12:00:00 IST 468fdae7f3df83964824203cb329bbbe Two Column Articles - Hero Image Businesses continue to plan to increase employee numbers, with 58% expecting to increase their headcount (53% in Q4 2022). However, specialist skills shortages are reported as the ongoing top barrier to filling vacancies (51%), a trend that was consistent across 2022, http://corkchamberofcommerce.newsweaver.ie/v3files/shard1/8881/c5/0ee3467a9d84392b786565.jpg Confidence in the Irish Economy https://corkchamberofcommerce.newsweaver.ie/92gv4l1ukx/c8cs33zs5gl?lang=en?rss=true Confidence in the Irish economy has risen again to 85% up from 70% last quarter, continuing the trend reversal of falling confidence in the first three quarters of 2022. 19 Apr 2022 12:00:00 IST 0957a3e9d5ef4c9c94e53d32c4dd3b07 Feature Article - Hero Image   <img align="center" src="http://corkchamberofcommerce.newsweaver.ie/v3files/shard1/8881/c3/400c4e8bb4b46289a9f54d.jpg" width="448" height="240" hspace="0" vspace="0" alt="" />   Confidence in the Irish economy has risen again to 85% up from 70% last quarter, continuing the trend reversal of falling confidence in the first three quarters of 2022. Browse Full Results Online https://corkchamberofcommerce.newsweaver.ie/92gv4l1ukx/12352fkg071?lang=en?rss=true View more stats and results from our latest Economic Trends, which capture a snapshot of business experiences and of the overall operating landscape at the close of Q1 2023. 19 Apr 2022 12:00:00 IST aa89810d886d2919eb808c1d9e520132 FEATURE_ARTICLE-clone-32694126-20220711-152607 View more stats and results from our latest Economic Trends, which capture a snapshot of business experiences and of the overall operating landscape at the close of Q1 2023. http://corkchamberofcommerce.newsweaver.ie/v3files/shard1/8881/36/2c22c8dcee413de479e2aa.jpg Browse results here https://www.corkchamber.ie/quarterly-economic-trends/ Charity winner https://corkchamberofcommerce.newsweaver.ie/92gv4l1ukx/51fp3lzq74g?lang=en?rss=true Cork Simon Community is this quarter's nominated charity to receive a €200 gift card. 17 Jan 2023 12:00:00 GMT 78d31da6ebc2a7874d284de86aeb8b3b FEATURE_ARTICLE-clone-32694126-20220711-152607 Cork Simon Community is this quarter's nominated charity to receive a €200 gift card.