Increase in SMEs expected in 2016

By Amy Lewis

Published 11/02/2016 | 00:00

CEO of Magnet Mark Kellett.
CEO of Magnet Mark Kellett.

One in three SMEs hope to open new premises in the southeast this year, a huge increase from one in 13 last year.

The findings come from a major study commissioned by telecoms and cloud services provided Magnet. Wexford Chamber of Commerce and Wexford businesses were the first to hear the results at a Magnet networking breakfast in the Ferrycarrig Hotel.

The Magnet Regional Business Barometer findings also revealed that 74 per cent of small firms in the South East are optimistic about the future compared to 62 per cent last year. Meanwhile, 41 per cent in the region said that the government isn't doing enough for business owners in the SME sector. Access to grants, funding and reduced costs to the sector were cited as the most popular options for ways the government could help. However, when it comes to business or technology grants, 94 per cent were unaware of what was available to them.

Speaking in light of the findings, CEO of Wexford Chamber of Commerce Madeleine Quirke said: 'The economic recovery is gradually making an impact in the regions, and it's great to see so much optimism about the future from our local business community. However, as the election nears it's interesting to note the continued dissatisfaction with government support for the SME sector. Business costs and access to finance, in particular, are issues that need to be looked at more seriously by future policy makers if we are to continue on this current path to recovery.'

Speaking of the research, CEO of Magnet Mark Kellett said that they were particularly impressed with the amount of businesses that plan to open new premises this year.

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