Irish businesses fear the impact of rising energy costs the most as they head into winter, a new survey has found.
Keeping the lights and heating on was the number one issue for 40% of over 500 business decision-makers who took part in a nationwide survey conducted by IP Telecom.
The second biggest issue raised by those surveyed was global uncertainty (36%) followed by labour shortages and wage pressures (25%). Regulatory costs and compliance requirements affected 23%.
Other operational pressures included broadband and telecom infrastructure (20%), supply chain disruptions (20%), and office or commercial rent (16%).
Only a small fraction of respondents to the survey, which was carried out between June and August, indicated no specific factors were currently straining their operations (2%).
Despite these challenges, Irish businesses are optimistic. This confidence is reflected in their outlook for the next 12 months, with 78% of respondents reporting confidence in the Irish economy.
IP said telecoms technology plays a central role in investment decisions.
Reflecting this, 62% of businesses said they are likely to change their telecom provider within the next 12 months, highlighting the increasing value placed on reliability and local presence.
Beyond price, the features most commonly prioritised are product reliability (46%), reliability of support (45%), and security (44%), with integration with other software, innovation, brand recognition, and local support also considered important.
Robin Russell, CCO of IP Telecom, said: “While challenges such as rising energy costs and global uncertainty remain top of mind for our customers and business leaders across Ireland, these results show that companies are actively adapting, investing in technology.
"Whether that's reviewing their telecoms and broadband efficacy and providers or exploring AI tools to stay competitive, understanding that innovation is no longer an option but a necessity.
"At IP Telecom, we are proud to support Irish businesses with reliable, locally based solutions that meet these evolving needs.”
When asked how important it is that their provider is Irish-owned with local support, 89% of respondents said it is important.
(Pic: Getty Images)
