More than four in five Irish businesses are optimistic about the coming year, however, concerns are increasing regarding the shortage of skills and the rising cost of energy.
The latest International Business Report from accounting firm Grant Thornton found 85 per cent of Irish businesses said they have a positive outlook for the next 12 months, the highest percentage of the 29 countries surveyed as part of the report.
In comparison, the EU average in this regard was 65 per cent.
Revenue forecasts among Irish businesses were also looking up, with 63 per cent of mid-sized businesses saying they expect revenues to increase over the next year. The same number said they are expecting to increase the price of their goods during that period.
In the second half of last year, 63 per cent of businesses also said the availability of skilled workers was presenting a barrier to growth, up from 37 per cent in the first six months of the year.
Energy prices over the coming year were noted as a challenge by 55 per cent of Irish businesses during the second half of 2021, up from 33 per cent in the preceding six months.
Wider economic uncertainty was a concern of just under half of businesses despite reports of a positive recovery from the pandemic.
Buy Irish
Meanwhile, research released by the Local Enterprise Offices shows 69 per cent of shoppers purchased a local product or gift after seeing their Look for Local Christmas campaign, or other similar initiatives in the run-up to the festive period.
Of respondents who saw the campaign, three quarters said it made them think more about buying local gifts, services or experiences.
The research also noted support local sentiment has been growing since the onset of the pandemic, with 70 per cent saying they made more local or Irish purchases last Christmas compared to previous years.
Of the 700 people surveyed, 78 per cent said they will actively try to make local or Irish purchases in 2022.
