Ireland's SMEs lost between €6bn and €10bn in revenue from March to June this year, according to research published this morning by the Economic and Social Research Institute (ESRI). The think-tank warned that the figure for the entire year could hit as much as €15bn, leaving many of the businesses struggling to survive the fallout of the Covid-19 pandemic. About 20pc of micro firms and [...]
Customers will be charged up to 5pc per year to borrow under the Government's Covid-19 Credit Guarantee Scheme, well above advertised rates, once insurance fees are loaded onto bills. The scheme, one of the main pillars of the July Stimulus plan, was launched on Monday. Despite a notional €2bn size, only around a third of that money is available to borrow so far, through lenders [...]
Economic sentiment fell backwards in August for the first time since the country began to emerge from lockdown and despite the Government's Stimulus Package announced on July 23. Ireland is an outlier with European Commission data on Friday suggesting economic confidence in the euro area as a whole had continued to improve in August. Here though, August has seen Government heighten social and economic restrictions [...]
Irish start-ups raised €545m in the first half of the year - up 25% on the same period of 2019 - however that figure masks some "very worrying trends" according to TechIreland. The figure for the first six months of 2020 was the highest recorded in four years, according to TechIreland, the independent organisation that promotes Irish start-ups. However it said it was distorted by [...]
One of the challenges we face in growing our economy is the limited size of our domestic market. Ireland's entry into the then EEC in 1973, and subsequent adoption of the euro in 2002, opened the door to a large and developed marketplace. As the EU has progressed and expanded the four freedoms - goods, services, people and capital - the eurozone has effectively become [...]
Consumer sentiment continues to lag behind business confidence, fresh data from Bank of Ireland suggests. Bank of Ireland's regular 'Economic Pulse' combines business and consumer elements to track sentiment in the economy month to month. The index was up 5.5 on last month but down 21.0 compared with a year ago. Business confidence has risen but the consumer pulse stood at 55.5 in July, down [...]
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