80% of local small and medium businesses confident for the next year

Galway Bay FM Newsroom – 80% of small and medium businesses in Connaught are confident about the next year, according to a new report from Bibby Financial Services Ireland

According to the study, which was done prior to the new restrictions announced last evening, 80% of SMEs in Connaught are confident for the next year, while over one third are planning to invest in machinery in the coming months.

The statistics show that a quarter of businesses in Connaught are planning to invest over €50,000 over the next year, with the top three areas of investment identified as: Staff training, IT and Machinery.

However, as businesses recover, operational challenges still remain for Connaught’s SME’S with 28% concerned about rising business costs, while 38% say they require additional funding into 2022.