Survey finds Mayo businesses optimistic about the year ahead

Some 65 per cent of small firms in Mayo are optimistic about the year ahead, and one in nine plan to open a new premises this year.

That is according to a new business survey by cloud telecoms company Magnet.

However, the survey also found that small businesses with five employees or fewer are not as confident as larger companies and still feel the Government is not doing enough to support them.

The inaugural Magnet Regional Business Barometer (MRBB ) was a study of more than 600 SMEs across Ireland by Amarach Research.

Three-quarters of SMEs surveyed said they believe the economy is improving making them much more confident than the general public, where just over half (55 per cent ) feel this is the case.

The manufacturing sector was the most positive in its outlook for the year ahead, while SMEs in hotels, restaurants, and bars were the most negative.

“The first year of Magnet’s barometer shows SMEs across Ireland are far more positive about the future than consumers,” said Mark Kellett, CEO of Magnet.

“Businesses are proving very resilient in the face of the high operating costs and financing issues they are facing,” he continued.

“While the upswing is seeping through to all businesses, it is clear that the smaller ones are most vulnerable and in need of support.”

Just 11 per cent of small businesses in Mayo felt the Government was doing enough to help them. However, firms were generally positive about Budget 2015 (55 per cent ).

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