Economic Trends - Economic Trends Q2

Economic Trends - Economic Trends Q2 - 2023 https://corkchamberofcommerce.newsweaver.ie/92gv4l1ukx/ en-us 11 Jul 2023 09:26:02 IST 11 Jul 2023 09:26:02 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/1j7lvlriw3j?lang=en?rss=true In the second Economic Trends survey of 2023, Cork Chamber asked members about their experience of the most recent business quarter, Q2 2023 (April, May, June) and on the business outlook for the third quarter of 2023. This Economic Trends Survey captures a snapshot of business experiences and of the overall operating landscape. 14 Apr 2022 12:00:00 IST 17442f991ecac3a32938b07079d63484 FEATURE_ARTICLE-clone-32694127-20220414-090757 In the second Economic Trends survey of 2023, Cork Chamber asked members about their experience of the most recent business quarter, Q2 2023 (April, May, June) and on the business outlook for the third quarter of 2023. This Economic Trends Survey captures a snapshot of business experiences and of the overall operating landscape.  Business Priorities for Budget 2023 https://corkchamberofcommerce.newsweaver.ie/92gv4l1ukx/1s514nw1tdy?lang=en?rss=true This survey also gathered business priorities for the upcoming Budget 2024 including, how to utilise the budget surplus, and housing and climate action measures. 55% of respondents reported they want to see cost of living measures as the number one priority in Budget 2024. 49% reported that supply side housing stimulus should be a focal point in the upcoming budget and 34% called for the budget surplus to be used to finance it. 19 Apr 2022 12:00:00 IST 8ede56d1fbfbefc160e0100550cad6d6 ARTICLE_1_COLUMN-clone-32694133-20220405-141712   This survey also gathered business priorities for the upcoming Budget 2024 including, how to utilise the budget surplus, and housing and climate action measures.   55% of respondents reported they want to see cost of living measures as the number one priority in Budget 2024. 49% reported that supply side housing stimulus should be a focal point in the upcoming budget and 34% called for the budget surplus to be used to finance it.  http://corkchamberofcommerce.newsweaver.ie/v3files/shard1/8881/92/81e2045980c5725e7615e2.png Ranking of housing supply measures https://corkchamberofcommerce.newsweaver.ie/92gv4l1ukx/11mdpwh6wd1?lang=en?rss=true Targeted and timebound VAT reduction for construction activity came out as the top priority action that government should undertake to address the supply of housing in the upcoming budget, followed by accelerated capital allowances for apartment development and increasing the income threshold for cost rental. 05 Jul 2023 12:00:00 IST e46630f00baa0690c61da7e999a343bb ARTICLE_1_COLUMN-clone-32694133-20220405-141712 <img align="center" src="http://corkchamberofcommerce.newsweaver.ie/v3files/shard1/8881/8b/1cb6962e5d19ffc25d512a.png" width="525" height="103" hspace="0" vspace="0" alt="">   Targeted and timebound VAT reduction for construction activity came out as the top priority action that government should undertake to address the supply of housing in the upcoming budget, followed by accelerated capital allowances for apartment development and increasing the income threshold for cost rental. Business Confidence https://corkchamberofcommerce.newsweaver.ie/92gv4l1ukx/1go3zvkzdpk?lang=en?rss=true “It is positive to see that business confidence remains high at 97%. This confidence has been evident through the quarter with a wealth of investment and growth plans announced by businesses across the region. Budget 2024 will be an important moment for government to match that optimism and willingness to invest with constructive and strategic financing for the key economic enablers,” said Ronan Murray, President of Cork Chamber. 05 Jul 2023 12:00:00 IST 1956e3ad8e23f7872946716c48da6a0c ARTICLE_1_COLUMN-clone-32694128-20220414-090440 “It is positive to see that business confidence remains high at 97%. This confidence has been evident through the quarter with a wealth of investment and growth plans announced by businesses across the region. Budget 2024 will be an important moment for government to match that optimism and willingness to invest with constructive and strategic financing for the key economic enablers,” said Ronan Murray, President of Cork Chamber. http://corkchamberofcommerce.newsweaver.ie/v3files/shard1/8881/a7/aebe6df6b8f840e2c0dcb9.png Employee outlook for Q3 2023 https://corkchamberofcommerce.newsweaver.ie/92gv4l1ukx/14bue440hvx?lang=en?rss=true “Despite inflation and changing consumer spending, businesses are continuing to expand and have sustained strong hiring numbers this quarter with 41% reporting an increase to employee numbers and only 7% having decreased their staff numbers. As businesses continue to adapt to a changing environment, Permanent TSB remains committed to supporting the business community,” commented Auriol Kelly, Business Banking Manager at Permanent TSB. 19 Apr 2022 12:00:00 IST 4a3f01318988ed2eae40db64ad439645 Two Column Articles - Hero Image “Despite inflation and changing consumer spending, businesses are continuing to expand and have sustained strong hiring numbers this quarter with 41% reporting an increase to employee numbers and only 7% having decreased their staff numbers. As businesses continue to adapt to a changing environment, Permanent TSB remains committed to supporting the business community,” commented Auriol Kelly, Business Banking Manager at Permanent TSB. http://corkchamberofcommerce.newsweaver.ie/v3files/shard1/8881/a3/963a9a07658a3ce1f62528.png Top barriers to filling vacancies https://corkchamberofcommerce.newsweaver.ie/92gv4l1ukx/1dlzd5r19y2?lang=en?rss=true The ranking of the top barriers to filling vacancies remain unchanged from last quarter, with specialist skills shortages persistently presenting the greatest challenge to businesses since Q2 2022, with housing and wage demands both posing barriers to 21% of respondents. The 20-hour work limit for non-EU workers was also raised as a key barrier. 19 Apr 2022 12:00:00 IST f0355f4d933663bd9e85d6e6a7a60495 Two Column Articles - Hero Image The ranking of the top barriers to filling vacancies remain unchanged from last quarter, with specialist skills shortages persistently presenting the greatest challenge to businesses since Q2 2022, with housing and wage demands both posing barriers to 21% of respondents. The 20-hour work limit for non-EU workers was also raised as a key barrier. http://corkchamberofcommerce.newsweaver.ie/v3files/shard1/8881/c5/0ee3467a9d84392b786565.jpg Browse Full Results Online https://corkchamberofcommerce.newsweaver.ie/92gv4l1ukx/1466wlo09h2?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 Q2 2023. 19 Apr 2022 12:00:00 IST 8340a3050478c3e94de6423994c6cb99 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 Q2 2023. http://corkchamberofcommerce.newsweaver.ie/v3files/shard1/8881/f4/8d757c6fa7cb0ed394d111.jpg Browse results here https://www.corkchamber.ie/quarterly-economic-trends/ Charity winner https://corkchamberofcommerce.newsweaver.ie/92gv4l1ukx/xy73t937v4g?lang=en?rss=true Irish Heart Foundation is this quarter's nominated charity to receive a €200 gift card. 17 Jan 2023 12:00:00 GMT 1e154536e42473f949765bd61e7342b4 FEATURE_ARTICLE-clone-32694126-20220711-152607 Irish Heart Foundation is this quarter's nominated charity to receive a €200 gift card.