Publication: BDO Optimism Index Q4 2016
12 December 2016
BDO is glad to present its Optimism Index for Q4 2016, the most recent in a series of surveys carried out for the last six years, tracking business performance and the views of business leaders across Ireland. Features commentary from Katharine Byrne, Partner, Corporate Finance.
Extract from the Foreword, by Michael Costello:
"The findings of this quarter’s research show that despite recent anxiety with regard to sterling and Brexit concerns generally, Ireland’s economy and Irish businesses' activity continue to improve.
The projected levels of business activity for Q4 across the whole economy remain largely unchanged with 19% of businesses indicating that business activity will be reduced. Dublin based firms and the services sector's current activity levels are particularly strong.
The statistics surrounding the lack of preparedness in the event of a hard Brexit are extremely concerning. The Optimism Index discovered that a mere 14% of firms have measures in place to deal with lower sterling rates and only one in twenty have a plan in place to deal with a potential customs border with the UK. Although Brexit implications will remain unclear for some time to come, ambitious and forward thinking companies are focusing on both the business opportunities and the structuring implications it presents. Either way, whether an organisation views this uncertainty as a threat or an opportunity they should engage with specialists who can advise them on the complexities of the situation and how to mitigate their risk."