Claims Small And Medium Businesses In Clare Will Feel Pressure Next Year Without Action On Cost Of Living

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It’s claimed small and medium businesses in Clare and elsewhere will be under significant pressure in the coming year, without real Government action on the rising cost of living.

That’s despite growing optimism that Ireland will continue to experience high levels of employment into the future.

The Government has been called on to strengthen business supports, following new research that shows the full scale of the country’s affordability crisis.

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The study from the Irish Business and Employers Confederation shows energy costs are threatening the sustainability of livelihoods and that high energy costs are set to continue into next year.

Clare’s ISME representative has predicted that this, along with a number of vices hitting small and medium enterprises, such as the increase in the minimum wage and the introduction of statutory sick pay will lead to a considerable number of insolvencies.

Siobhán Ní Gharbhith of St Tola’s Irish Goat Cheese Farm in Ennistymon says the Government needs to tackle the cost of living, rather than placing increased pressure on vulnerable businesses.

Despite this, a Clare recruitment specialist believes unemployment levels will hold next year.

An economic survey from the OECD says the unemployment rate will remain low, going from 4.7 per cent to 5 point 3 percent next year.

Shannon-based founder of Careerwise, Joe Robbins says while the tech sector is bound to take a further hit in 2023, industries such as pharma are booming.

He doesn’t think the outlook for the economy will be gloomy overall next year.

Listen back to the full interview here: