A survey of business leaders has concluded that the overwhelming majority are more concerned about their ability to attract and retain talent than they are about Brexit.

EY carried out research among 150 former winners or finalists in its Entrepreneur Of The Year awards. While a third of the respondents said Brexit is an obstacle to growing their business, eight out of ten ranked difficulties finding and keeping talented workers as their main business challenge.

EY head of tax Kevin McLoughlin (pictured) commented: “While Brexit continues to dominate the headlines, insight from the entrepreneurial community throws up some interesting narratives around challenges for business in Ireland.

"The reality is that skills shortages and problems recruiting the right staff are far more pressing concerns for business owners in Ireland today. Irish entrepreneurs are creating huge employment, but their growth is being stifled because they can’t get the right people.

“It’s vital to the economy that policy makers and business leaders don’t make Brexit the answer to every problem; sharp focus is needed to tackle the issue before Ireland becomes a victim of its own success.”

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Bosses are keenly focused on retention, says the report. There is almost unanimous agreement that investing in training is critical to success, while nine out of ten say the same about providing a flexible working environment. The same proportion say diversity and inclusion is important.

 Entrepreneur of the Year 2018 Daniel Mackey of Teamwork added: “There are a lot of challenges in recruitment at the moment, particularly in the IT sector where Irish companies are competing with the large multinationals. Companies have to be clever about making sure they are able to keep the staff they have but also create a fun, welcoming culture that helps to attract the best talent. If staff aren’t happy, you’re not going to be able to grow the company and hit the targets you’ve set.”

As to Brexit, 44% of the entrepreneurs said it has not yet had an impact on their business. And levels of optimism are high: 70% of entrepreneurs in the Republic say Brexit presents an opportunity, thought only 55% of entrepreneurs in Northern Ireland agree.

Finalists for the Entrepreneur Of The Year 2019 awards will be announced next month, after which 24 selected finalists will engage in a strategic programme of activities geared towards accelerating their professional growth and development, leading up to the Irish awards ceremony next November.