Measures to boost business competitiveness are the number one priority for Cork Chamber members as Budget 2026 approaches, according to the results of the Economic Trends survey. The survey, sponsored by PTSB and carried out among Cork Chamber members at the close of Q2, measured business sentiment and economic outlook in Cork’s business community. Members were also asked about their key priorities and challenges ahead of this year’s Budget.
Investment in infrastructure critical for Ireland’s competitiveness
Business competitiveness measures, followed by housing and the cost of living, were the top priorities for Cork Chamber’s members ahead of Budget 2026. Exploring business competitiveness measures in more detail, members stated that investments in infrastructure and connectivity were the single most important budgetary measure to support competitiveness.
Rob Horgan, Cork Chamber President, said, “Now more than ever, investing in our economic competitiveness into the future is vital. Competitiveness is comprised of many different elements – infrastructure investment, supports for SMEs and innovation, cost of business measures, tax reforms – and government needs to take a holistic approach to future competitiveness in Budget 2026.
“What became clear in the survey results was that many in the business community value investments in Ireland’s long-term competitiveness, building the infrastructure and supportive policies that will help to sustain economic growth into the future.
“Respondents also discussed the various emerging trends and threats affecting business. Many are concerned about threats to critical assets and infrastructure, while AI and digitalisation remain a top priority. Diversifying market access in international trade was also cited by a significant number as an important priority ahead of Budget 2026.”
Confidence in the Irish economy remains high
A significant majority of responding businesses, 79%, expressed confidence in the Irish economy at the close of Q2 2025, representing a slight increase from 74% in Q1 of this year.
Auriol Kelly, Business Banking Manager at PTSB, stated, “Confidence in the Irish economy continues to be strong, despite some economic uncertainty at a global level. What is particularly positive is the high level of business confidence expressed by Cork Chamber members, 94% of respondents reported feeling confident about the future of their own business.
“Supporting businesses to continue on this positive trajectory is a key priority and Budget 2026 represents a further opportunity for government to put in place measures that support Ireland’s economic competitiveness in the long term.”
Mr Horgan added, “The high levels of business and economic confidence reported by the business community are encouraging, however it is critical that ongoing support for businesses is prioritised by government. 94% of respondents stated that they do not believe Cork is currently receiving sufficient funding to support the projected increase in the region’s population in the coming decades. It is vital that investment in Cork’s infrastructure, housing and public realm is prioritised to ensure businesses continue to thrive in the city and county.”
Full results and previous quarterly economic survey results can be found on www.corkchamber.ie/quarterly-economic-trends/.