Most Cork businesses express optimism for 2025 in Chamber survey

The overwhelming majority of Cork businesses reported high levels of optimism and confidence at the beginning of 2025, with more than half projecting they will increase their workforce during the year, a new survey carried out by Cork Chamber has found.

The survey measuring business sentiment for the final quarter of last year also asked local firms about their experience of improving energy efficiency in their businesses and the challenges they faced in doing so.

According to the survey, sponsored by the PTSB, 96% of respondents reported they were feeling confident about their business in Q4 2024 and 77% also expressed confidence in the Irish economy as last year drew to a close.

The survey also found that 36% of respondents had increased their employee numbers during the last quarter of 2024 while 52% of firms surveyed said they expected to increase their staff during this year.

According to the president of Cork Chamber, Rob Horgan, challenges such as housing supply and skills shortages need to be prioritised this year “to enable businesses to capitalise fully on positive economic sentiment and realise their plans for growth”.

The survey also found that almost 70% of businesses had already invested in implementing energy efficiency measures, including upgrades of equipment and facilities, usage of renewable energy, and changes to waste management practices.

“It is encouraging to see a high level of interest in improving energy efficiency among Cork Chamber’s members,” Mr Horgan said.

“However, a number of challenges were also identified, with funding constraints emerging as the top barrier to increasing energy efficiency.

“It is vital that sufficient resources are available to Cork businesses in their climate neutral journey.”

Supporting climate goals “should be to the fore in planning for the next five-year government term and beyond”, Mr Horgan said.