Half of independent Irish firms describe themselves as digital [REPORT]

Half of all independent businesses in Ireland describe themselves as digital, a new report has found.

The latest Enterprise Nation Small Business Barometer found 50% say they are digital, with 83% using social media for marketing.

But the report also found that only a third (36%) are using accounting software, half (50%) are using cloud computing and only one in five (19%) use project management software to increase efficiency.

The data suggested that while businesses are partly embracing the digital world, a fifth (21%) say they have purchased technology they don't have time to use.

Less than half (42%) said they had found business support online, while another 36% said they couldn't find access to business support that worked for them.

The analysis found just over a third of small businesses (37%) said they are expecting to reboot growth plans over the next 12 months. Only 6% didn't expect to grow.

It also found of those with growth plans, 36% expected to grow by around a quarter, which could deliver a boost of more than €36 million to the economy.

The analysis found more than half (57%) of those surveyed in late July were looking to seek business investment to fuel growth plans.

Only just over one in 10 (11%) say they are currently exporting. Of those that weren't already exporting, a quarter (25%) said they would like to, and 19% of those that export said they would like to increase overseas sales.

Challenges ahead

Irish small businesses see high staff costs (28%) as well as persistent cost pressures on consumer pockets as the biggest challenge moving forward (19%).

More than a third (37%) of Irish firms say they are still often paid late for their goods and services.

The majority (67%) warned that the current tax burden on small businesses is already too high, suggesting any tax hikes in the Irish government's Budget could have a negative impact on confidence as well as profits.

Joanne Mangan, country head of Ireland at Enterprise Nation, said:

"It's refreshing to see that so many small businesses are embracing digital tools. But what is also clear is that they still need support to take their skills to the next level and help them use their technology more efficiently -- but more than a third can't get access to the support they need.

"Independent businesses play an important role in their localities, so it's more important than ever to create clear and easy routes to help them find the support they need to grow."

Sign up to Enterprise Nation newsletter to hear about grants and other business support programmes for small businesses in ireland.

Accessible space to grow

The analysis also found 14% of Irish entrepreneurs are still frustrated at the lack of access to adequate space they need to run their businesses, be that business units, co-working spaces or high street pop-ups.

Read the full findings of the Q3 2024 Enterprise Nation Small Business Barometer

Relevant resources

Strategies for Irish entrepreneurs to thrive globally

Small businesses in Ireland: Nine ways to get funding for your start-up

Ireland small business networking group