For many small businesses in Ireland, rising costs and an uncertain future on the international stage lead concerns. With the United Kingdom’s exit from the European Union there are many concerns that their exit may have a waterfall effect on the country due to proximity. To add to these worries, Ireland already suffers from high labor costs, sitting at 20% above the EU average.
Despite these issues, Ireland has seen a 26% growth in GDP over the past 8 years. Unfortunately, according to the KBC Bank Ireland/Chartered Accountants Ireland Business Sentiment Index, not all industries are enjoying the growth.