The Irish Small and Medium Enterprises Association (ISME) today said that business confidence among small and mediums firms has fallen to a four year low.
The survey, on over 500 companies, confirms that 38% of respondents are less optimistic about business prospects than they were a year ago, in comparison to only 18% who are more optimistic.
Economic uncertainty can be identified as the primary factor behind the sharp decline in optimism, it said.
However, business is confident in its own ability to deliver with many companies still planning to increase employment and investment over the next year in spite of the current concerns.
Nearly half of companies plan to increase investment in the next 12 months, up slightly from the previous quarter where 45% indicated increased investment.
According to ISME head of research Jim Curran, the results highlight that businesses are seeking reassurances with regard to the direction the economy is taking and require a level of certainty to invest and expand their businesses.
