Irish business confidence hits four year high as economy recovers
Report from Regus shows economic predictions are boosting business confidence
Ireland’s businesses confidence is at a four-year high according to the yearly business confidence report from Regus, the global workplace provider. Based on the views of 147 business owners and senior managers in Ireland, the ninth edition of the Regus Business Confidence Index (BCI) - which is heavily based on actual performance over the last 12 months - reveals an 11 point rise from 120 points to 131. This is the highest total recorded since Ireland was first included in the Regus BCI report in 2010.
Ireland’s was the fastest growing economy in Europe in the three months to June 2014, and the European Commission’s Autumn Economic forecast predicts that not only will growth continue, but it will outperform all other European countries in 2014. Regus’ BCI shows that this positivity is being matched by performance amongst Irish businesses. The report reveals that 70% of Irish businesses saw a rise in revenues in the past year, and 66% of Irish businesses saw profits grow.
New ways of working are helping businesses to grow. A quarter of Irish businesses (25%) increased their flexible working options for staff over the past twelve months.
Michael Stirling is Managing Director of Bridgespan, a business which advises businesses implementing organisational change and restructuring. Bridgespan is based in offices at the Regus centre in Pembroke House, Dublin.
Michael agrees that business confidence in Ireland is looking up. He comments: “We advise companies that are going through organisational change and have noticed an upturn in outlook among our clients over the past few months. We’re seeing some firms offer modest salary increases for example, or investing in staff recruitment and training, which had been ‘on hold’ for some years. The indications are that companies are gearing up for growth again, looking to capitalise on the improving economic conditions.”
Karen Lawlor, Ireland Country Manager at Regus, comments: “Irish businesses are clearly encouraged by the strength of the country’s recent economic recovery and are riding the wave of optimism. These are the most robust business confidence figures we’ve ever announced.
“Clearly, flexible ways of working – particularly in relation to the physical workspace - are playing a significant role in this Ireland success story. Companies are managing growth carefully, with many recognising that full-time, permanent office space with its associated long-term leasing is no longer the only option. Remaining agile helps business secure and retain top talent, and keeping overheads low is vital to sustainable business growth.”
Notes to Editors
Over 22,000 business respondents from 100 countries were interviewed via online survey during July 2014. These were sourced from Regus’ global contacts database of over 1 million business-people worldwide which is highly representative of senior managers and owners in business across the globe.
The survey was managed and administered by the independent organisation, MindMetre, www.mindmetre.com
The detrimental impact of inflexible property leasing is explored in Regus report Walking the Tightrope (April 2012) http://www.regus.presscentre.com/White-Papers/Regus-Business-Confidence-Index-Issue-6-371f.aspx
Regus is the global workplace provider.
Its network of more than 2000 business centres in 104 countries provides convenient, high-quality, fully serviced spaces for people to work, whether for a few minutes or a few years. Companies like Google, Toshiba and GlaxoSmithKline choose Regus so that they can work flexibly and make their businesses more successful.
The key to flexible working is convenience and so Regus is opening wherever its 1.8million members want support - city centres, suburban districts, shopping centres and retail outlets, railway stations, motorway service stations and even community centres.
Founded in Brussels, Belgium, in 1989, Regus is based in Luxembourg and listed on the London Stock Exchange. For more information, please visit: