What concerns have Irish SMEs about Brexit, Trump, Blockchain etc ?
The 2017 Arvo Procurement research was developed to collate responses from Irish SMEs to clarify the impact from Trump policies, technological advances such as Blockchain, plus the true fallout from Brexit. Ratings agency Moody’s recently sounded a warning note about the threats to the Irish economy from Brexit and the Trump administration, particularly as Ireland was the “European country most exposed” to the two factors. The agency says the changing international environment are “key risks” for Ireland’s otherwise improving circumstances, while Brexit could be more disruptive to Ireland than initially thought (due to the hard exit outcome currently being negotiated).
With regards the survey findings;
- 100% of the Irish SMEs think that their insurance costs will increase in 2017, what about you?
- 26% of the Irish SMEs think that Brexit will increase currency costs and so impact their business
- While the top “2017 Priorities” for Irish SMEs are revenue growth and profit growth.;
The majority of Businesses surveyed during this research;
- Do not have a procurement function or role within their companies
- Do not have a budget for procurement systems and training
- While tasks relating to “banking and payments or documentation, order process” are potentials to automate today.
To review the complete report, please use this download link: https://bit.ly/2msMirM
As always please feel free to contact us if you have any queries about this survey and any procurement challenges or opportunities within your business.