The Hidden Crisis: Why Chambers Ireland’s Urgent Call on Business Costs Could Change Everything for Entrepreneurs Now
So here’s the kicker: Ireland’s buzzing with renewed business confidence heading into 2027, yet a looming question hangs in the air—can this momentum survive the ever-pressing costs squeezing the lifeblood outta local enterprises? Ian Talbot, the sharp CEO of Chambers Ireland, isn’t mincing words—unless we tackle the stubborn burdens of rising labor costs, energy prices, and that relentless regulatory maze, the bright outlook could flicker out fast. It’s a classic tale of ready-to-rock companies stuck at the crossroads, itching to invest and grow but chained by what feels like an endless uphill battle on the cost front. Meanwhile, across Europe, optimism is waning, making Ireland’s cautious hopefulness a double-edged sword. So, what’s Ireland’s game plan? Sharpening focus on business costs, turbocharging infrastructure, and cutting red tape are the non-negotiables, if the country wants to stay competitive and not just a spectator in its own economic success story. Curious how it all unfolds? LEARN MORE
Ireland risks squandering renewed business confidence unless the persistent pressures on the cost of doing business are addressed, the chief executive of Chambers Ireland has warned.
Speaking at the publication of the results of the 2027 Eurochambres Economic Survey in Dublin, Ian Talbot said that while confidence among Irish businesses has strengthened since last year, cost pressures continue to constrain their growth.
The survey is Europe’s largest business sentiment survey and based on responses from more than 40,000 businesses across 27 countries.
“There is plenty to welcome in these results. We are finding that businesses are looking towards 2027 with a lot of confidence and expectations around exports, investment and employment are all positive,” said Talbot.
“The overriding concern is that the same competitiveness pressures are coming back year after year. The national figures show that labour costs remain the biggest challenge for Irish businesses, with energy affordability close behind. Both are putting investment, hiring and expansion decisions under increasing pressure.
“Our strong economic performance cannot become an excuse for overlooking the challenges facing businesses on the ground.
“We need a much sharper focus on the cost of doing business and faster delivery of critical infrastructure, alongside a determined effort to reduce the regulatory burden on businesses of all sizes.
“Companies are ready to invest and grow where the conditions are right. Ireland must remain competitive enough for them to do that here.”
The results for Ireland strike a more optimistic note than the results for Europe more widely.
While businesses here are generally positive about prospects for exports, investment and employment in 2027, confidence across Europe is set to creep down, moving below its ten-year average.
Expectations for domestic and export sales have both shifted positively for the first time in several years due to recovering demand and normalisation of trade conditions.
However, employment expectations are negative for a fourth successive year, and investment expectations are less negative than in the previous two years but remain below their historical average.
Energy costs and affordable access to raw materials have overtaken labour costs as businesses’ top challenge for the year ahead.
The regulatory and administrative burden ranks second, labour costs third and the lack of skilled workers fourth.
Financing conditions and trade barriers rank lower, although many SMEs face trade barriers within the single market as much as beyond it.
“European businesses continue to demonstrate their resilience. But resilience without confidence is not a basis for growth,” said Vladimir Dlouhy, president of Eurochambres.
“The gap between the political commitments made by EU policy makers – not just in Brussels, but also in the member states – and the daily experience of a small business owner remains far too wide. The midpoint of this Commission mandate is the moment to accelerate, not to consolidate.”
Chambers Ireland and Eurochambres are calling on EU and national policymakers across Europe to:
- Treat energy affordability as a first-order competitiveness issue. This means investing in clean domestic generation, grids and storage, and speeding up permitting.
- Turn simplification into real relief. Swiftly implement the Omnibus simplification packages, accelerate the Regulatory Deep Cleaning Action Plan, monitor actual savings for SMEs and stop gold-plating.
- Ease the cost of hiring. Consider targeted relief for labour-intensive sectors.
- Close skills gaps. Support training and apprenticeships and make qualifications easier to recognise across borders.
- Help SMEs adopt digital and AI technologies. Expand investment incentives through InvestEU and the Digital Europe Programme and make digital and AI skills training more accessible for smaller businesses.
- Improve SMEs’ access to finance. Make progress on the Savings and Investments Union to deepen equity and debt markets for smaller businesses and make sure sustainable finance rules do not indirectly exclude SMEs from bank lending.
- Complete the single market, especially for services, and conclude pending trade agreements with strong SME provisions.
Photo: Ian Talbot, CEO of Chambers Ireland. (Pic: Fran Veale)
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