While foreign multinationals make a valuable contribution, the success of the Irish economy “now depends very heavily on the progress of domestic business”, a study by the Economic and Social Research Institute (ESRI) has concluded. In a research paper entitled Understanding recent trends in the Irish economy, economist John FitzGerald suggests that the economy here grew by about 5 per cent a year between 2013 [...]
Almost no Irish businesses have been paid out on business interruption insurance claims since the Covid-19 lockdown, according to a survey by lobby group the Alliance for Insurance Reform. A third of businesses have made a claim with their insurer and almost two-thirds of those claims have been rejected, according to a survey of 2,095 businesses carried out among between May 29th and June 7th. [...]
The Republic of Ireland has fallen four places to 18th spot in an international ranking of the best countries for start-ups, with Dublin dropping out of the top 50 cities. The rankings were compiled by using algorithms that analyse thousands of data points on early-stage companies, accelerators and co-working spaces to rank 1,000 cities and 100 countries in terms of their start-up ecosystems. According to the [...]
Ibec says the Government needs to step up its pandemic budget plans and to develop more a more ambitious long-term investment plan and social contract. The call came as Ireland faced its second major economic crisis in less than a decade and one that could leave a long shadow of shuttered businesses and workers without jobs due to the impact of the coronavirus lockdown. "While [...]
THE Government's emergency loan supports for small firms are too slow and difficult to access and should not be channelled only through pillar banks. Figures show only an €11m drawdown to 56 firms from the Government's initial €200m pool of emergency capital to small and medium-sized enterprises (SMEs). The Covid-19 Working Capital Scheme, launched on March 10, allows SMEs to seek loans of up to [...]
Half of the small and medium-sized enterprises (SMEs) in a new survey say that they will last less than six months as going concerns due to the Covid-19 lockdown. Details of the survey by representative body Isme come as concerns mount that a lack of liquidity will sink many businesses even if they have availed of existing Government Covid-19 supports. "The absence of liquidity will [...]
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