Irish business leaders remain upbeat about the outlook for the economy, but are increasingly concerned about costs, competitiveness and the burden of regulatory compliance, according to a new survey.
The PricewaterhouseCoopers' annual CEO Pulse Survey of more than 200 of Ireland's chief executives found that 86 per cent projected growth in revenues while three-quarters responded favourably when asked about their views for the outlook of the Irish economy.
However, the single greatest business challenge for chief executives continues to be controlling costs. Half of participating chief executives cited controlling costs as the greatest challenge. Six out of 10 believe the cost of business regulation is higher in Ireland compared to other EU countries. More than 90 per cent feel that the Government should examine the administrative burden of regulatory compliance, while a similar percentage said that reducing the regulatory compliance costs in Ireland should be top priority.
Some 71 per cent of the chief executives said they are dissatisfied with the general cost of doing business in Ireland, with more than three-quarters unhappy with the State's road, rail and airport infrastructure.
While the majority of business leaders are happy with labour quality (78 per cent) and avail-ability (69 per cent), three-quarters are unhappy with its cost.
Two-thirds of chief executives felt that the Government was in touch with their needs - an increase of 13 per cent on last year. However, support for Social Partnership has dropped. A total of 72 per cent of chief executives surveyed this year said social partnership is necessary compared to 82 per cent last year.
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