Post by earl on Mar 13, 2008 17:48:04 GMT
Turnover growth in companies across the island of Ireland is slowing, it can be revealed today.
A survey from BT and InterTradeIreland showed over one third (34%) of all-island businesses experienced turnover growth between October and December. However, such growth appears to be slowing considering the figures for the first two quarters of this financial year; Q1 was 40% and Q2 was 36%.
The organisations' latest Business Monitor revealed that nearly one in three (30%) businesses experienced an increase in profitability during Q3.
The service sector remained more upbeat about an increase in profitability than the manufacturing and construction sectors.
It discovered growth in employment is slowing with 17% of businesses experiencing an increase in employment in Q3 compared to 20% back in April 2007.
Most businesses (84%) remain optimistic about their performance over the next three years.
On the island 37% of businesses expect their governments to improve the commercial environment over the next five years (42% in RoI and 32% in NI).
Those surveyed identified the main barriers to growth as being competition, increased inflation, interest rates, the need for increased investment and market conditions.
Both the British and Irish governments were urged to create more favourable business conditions and gain control over interest rates (7%), although a reduction in taxation rates/VAT continued to be the most prevalent issue (23%).