Irish chief executives are considerably more confident about their business prospects

Irish chief executives are considerably more confident about their business prospects and the wider economy than they were last year, according to a survey by PwC.

Welcoming the survey, the Minister for Jobs, Enterprise and Innovation, Richard Bruton TD, said:

“At the centre of the Government’s Action Plan for Jobs is supporting the transition from the old unsustainable economy to a new growing economy based on enterprise and innovation. This transition, which has been underway for over 3 years now, has been painful for many workers and businesses, but it is becoming increasingly clear that it is starting to deliver concrete results across the economy. The CEO Pulse Survey published by PwC today is a very welcome addition to our understanding of what is happening in the economy, and is the latest in a growing number of signs that the jobs recovery which has started over the last two years is set to broaden and deepen. We in Government will continue to make the changes necessary to make Ireland the best country in the world for enterprise, and support businesses to create the jobs we need”.

More than 85% of CEOs surveyed had a positive outlook on the Irish economy, according to the report, almost triple the number recorded in 2013.

Meanwhile, three quarters were positive about the future prospects of their respective businesses, compared to 44% last year.

Almost 70% expect profits to grow, while more than three quarters expect revenue to rise – up from 53% and 56% respectively in the previous survey.

As a result, almost 60% of the 256 CEOs surveyed said they planned to increase their workforce, while the vast majority of those asked said they expected to increase or maintain their investment in the country.

They also said that access to relevant talent was a key concern, as was over-regulation and cyber attacks.

To read the full report see http://www.pwc.ie/survey/pwc-ceo-survey.jhtml