Irish accountants pessimistic about business climate

News Article - 20 April 2007
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Irish accountants are twice as pessimistic about the country's business climate as they were six months ago, a study has revealed.

According to the most recent Certified Public Accountants (CPA) Business Barometer Survey, 40 per cent of CPA members said that they thought the business climate had worsened compared with 20 per cent who said the same six months earlier.

In addition, 49 per cent of respondents said they believed the disimprovement would continue into next year.

The main concern voiced by these respondents was the lack of skilled staff and the retention of current workers

Padraig O'Feinneadha, CPA president, said: "The greatest challenges to business include such factors as the retention of staff, pay levels and government regulations.

"Rising interest rates, cost controls and inflation all featured as additional concerns."

Despite the figures, one-third of people questioned said they thought that Ireland was supporting businesses at the present time, marking a rise of five per cent compared with earlier statistics.

Meanwhile, earlier this year, a study by the Economist Intelligence Unit found that nine in ten executives globally rate their business prospects for the next three years as either good or very good.

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