ifac, the farming, food and agribusiness professional services firm has carried out intensive research on sentiment among small and medium sized business (SMEs) in Kilkenny and Leinster.
One of the key findings is that 84% of Leinster food and agribusiness do not have a clear succession plan in place. The research also suggests that this is mainly due to lack of thought, business viability and no interest from next generation. An average of 4 in 10 medium sized companies are planning to hire next year. however, 56% of Leinster employers are saying its somewhat or very difficult to find the right people to run the business.
Another area for concern is the growing costs for food and agribusiness . Cost pressure is evident across the industry with 86% of medium sized businesses experiencing increases in business running costs averaging at 5%. Only 3% of companies saw a decrease in costs.