Two in five Irish firms say generating new business in the current climate is their main concern this year.

Meanwhile, for 30pc of firms managing a remote workforce will be their main challenge this year, as hundreds of thousands of employees continue to work from home due to Covid-19 restrictions. This is according to a survey of more than 250 businesses from the Association of Compliance Officers of Ireland (ACOI).

When ACOI carried out the same survey last June, 39pc of firms cited generating new business as their biggest worry, while one in four were concerned about managing working from home. Michael Kavanagh, chief executive of ACOI, said that for businesses things are not getting any easier in either regard. “How to tackle these issues under the continuing spectre of Covid-19 is fraught with difficulties, but it is all our hope that as the year plays out, Government supports, coupled with greater economic certainty and stability, might assist these organisations to rise to and overcome these challenges” Mr Kavanagh said.

Just 8pc of respondents felt that cashflow was their biggest concern, which, the experts say, could be down to good financial planning and cash flow projections on the part of business owners, as well as an increase in the financial supports available. Only 6pc of firms surveyed say Brexit will have the biggest impact on their business in 2021.

Irish Independent, 15 February 2021