Conflicting reports about the Irish economy and small businesses
- In February, 2013, the Irish Independent reported that small business failures dropped by 32 percent
- In March, 2013, The Irish Times reported that the services sector grew at a slower rate
- Also in March, 2013, Business + Leadership reported that in a IBEC (Irish Business and Employers Confederation) business sentiment survey, indicators showed strong improvement in business confidence at the start of 2013
- In April, 2013, the Journal.ie reported that Davy, a stockbroking firm, revised its projections upwards for the Irish economy due to better performance and foreign investment
- In April, 2013, FinFacts Ireland detailed that “Half of all lending to SME (small and medium enterprises) business is in arrears, according to the Central Bank”
But I got curious and asked my counterparts and peers in the #SMEcommunity in Ireland. I posted a query on the Facebook page of the #SMEcommunity.
A few perspectives
Geraldine Kennedy : (Jerros) “I have a boutique in Birr and I am seeing a lift in confidence. People are still cautious but definitely more optimistic. We are seeing more people out and about compared to last year which was desperate at this time.”
Debra Harper: (Tús Nua Designs and co-founder of the #SMEcommunity) “From what I can see there is a lot of small guys emerging, a lot of bigger established companies struggling with big overheads. A lot of biz based from home. There is a real fighting spirit going on, its not easy but the desire to succeed is there. A lot of frustration around new government schemes, all the right language is used but they are not moving with the times, not taking into account that the emerging new biz are tech or digital so can not forecast as easily as someone with a traditional shop and stock.”
Ray Wilkins: (TotalGiftz.com) “There is a change in the air alright, a little more positive than before, small businesses continue to struggle though and changes are badly needed to help these businesses grow and create employment…government need to listen to the needs of small business and stop overlooking them..then we will see a bigger improvement…desire,drive,determination are all there..government ignoring SMEs causing road blocks..unnecessary.”
Debbie McDonnell: (The Marketing Shop.ie) “There are still no realistic options for a small business owner who provides a service or is a sole trader. If you can create a product or you opt to become a limited company you can get more than advice. Frustratingly there are situations where an enterprise board in one region can provide a lot more than one a few miles away too so your postal address can work against you which is all wrong. I think our government are doing a lot of talking about what they’re doing for small business but I know so many with viable businesses that get nothing because of rules, many of which were created pre-recession e.g. innovation vouchers which were last updated in 2007.”
Not exactly bullish
While this may be not a technically representative sample, their comments reflect the frustration and concerns shared by SME owners in Ireland. There are calls for the Irish government to create policies that support the business growth of indigenous established small businesses. With the overall Eurozone trending downwards and mixed signals in the Irish economy, it isn’t going to be an easy ride but it isn’t impossible either.
What is your observation about small business in Ireland?
If you could get someone from the Dáil to listen to you, what would you tell him/her?
What do established small businesses need to succeed?
What makes you optimistic about the future of Irish small businesses?
iStockphoto image by Artsy