Increased labour costs are hurting the majority of indigenous businesses

 

MAY 2024

Red C survey for KPMG also shows artificial intelligence (AI) is still in the early stages for most in terms of its role in strategy and operations; only 15% say AI will reduce their workforce
  • Majority (85%) say increased labour costs are their most significant business challenge this year, doubling from 43 percent in 2023
  • Nearly two-thirds (65%) anticipate an increase in their turnover within the next 12 months. compared to 55 percent in 2023
  • Over three-quarters (76%) say the availability of residential accommodation is a disadvantage for recruiting and retaining staff
  • Only 29% believe the tax regime in Ireland encourages entrepreneurship and growth 
Find out more here.

Source: Enterprise Ireland