Over half of businesses believe governmental response to the cold snap has been good or very good, according to a survey by business group IBEC.
The survey of 429 companies from a cross-section of sectors found that 56.2% and 51.1% of respondents rated the actions of national and local government level, respectively, as good or very good.
IBEC Director of Policy Brendan Butler said: 'The adverse weather has had a very negative impact on production, sales and cash flow.
'While the cost has been substantial, it would have been significantly higher were it not for the improved response from Government and local authorities.'
Businesses said that the response to the current chill had been far better than that of last January, when few businesses rated the national government (16%) and local authority (31%) response as good or very good.
Better clearing and treatment of major roads and improved public transport resulted in less than 9% of staff being absent due to weather conditions, compared to a figure of 13% last January.
The survey was carried out in the first half of this week. It estimates that the inclement weather will cost the economy €170m a week in absenteeism; €130m a week in lost retail sales; €200m a week in losses to services businesses; and €130m a week in lost production in manufacturing.
