Wednesday 26 November 2014

Most Irish technology firms upbeat about future and hiring - survey

Published 30/06/2014 | 02:30

digital technology firms here believe revenues will increase in the coming months
Digital technology firms here believe revenues will increase in the coming months

THE overwhelming majority of home-grown digital technology firms here believe revenues will increase in the coming months, a survey suggests.

About 81.5pc said they were more confident about their business than they were three months ago, according to the Irish Software Association's 2014 Digital Technology Index.

The survey examines the health of the sector and business sentiment among the indigenous tech industry here.

It also found that 82pc of companies surveyed believed that working with Foreign Direct Investment companies in research would be beneficial.

ISA said there are 806 indigenous technology companies operating in Ireland.

Edel Creely, ISA chair, said key challenges need to be addressed for the sector to realise its full potential.

"Access to finance remains a challenge, the Central Bank numbers show that the level of credit outstanding for the technology sector has been largely unchanged over the last two years, despite growth in the sector," she said.

"The tech industry has benefited from the experience of successful entrepreneurs investing and advising new start-ups, but more need to ensure they have adequate access to finance, she added."

Key findings from the study, which was conducted in the first three months of the year, include:

* 81.5pc are more confident compared with 62.5pc in August of last year.

* 94.4pc believe revenues will increase as opposed to 84.4pc.

* 87pc see an increase in export potential.

* 75.9pc plan to increase staff - fractionally smaller than the 78.1pc recorded last August.

Irish Independent

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