A new business momentum survey from Bank of Ireland shows that 66% of business leaders are optimistic about their prospects for next year.
The survey, which was conducted by iReach among Irish SMEs, reveals that over 42% of Irish businesses said they had recruited new staff over the past year, while the same amount said they plan to add to their workforces in 2014.
The new research was released to mark the start of National Enterprise Week, which runs from November 15 to 22.
Other findings in the survey included the fact that 31% of businesses saw new technologies and a strong online presence as key drivers of growth, while 52% see new product and services and market expansion as key ambitions for next year.
"It’s great to see the growing level of optimism among Irish SME’s, which have long been regarded as the engine of the Irish economy," commented Gerry Prizeman, Head of Small Business and Agri at Bank of Ireland Business Banking.
He said that while the banks are not yet seeing a significant increase in overall demand for credit, the figures show an improvement in new lending approvals across the retail, manufacturing and property sectors.
