Next week, Dublin Chamber will launch the results of its Q3 Business Outlook report, which offers valuable insights into the priorities, challenges and outlooks of Dublin businesses ahead of the General Election. Headline findings reveal that rising business costs are a leading issue for firms this quarter, with almost two-in-five (38%) reporting this to be their biggest issue. Business costs as an issue has risen by 21 percentage points since we last asked our members this question in Q4 2019, just before the last General Election. This notable increase reflects mounting pressures from inflation and escalating operational expenses, impacting the profitability and growth potential of many Dublin businesses.

In addition to this, over three-quarters of respondents (76%) expect operating costs to increase over the next three months, which is up from two-thirds last quarter and represents a 10 percentage point increase. Only 1% of businesses expect a decrease in costs this quarter, suggesting that operating costs are on an upward trajectory. With the vast majority of Dublin businesses bracing for rising expenses and nearly two in every five reporting business costs to be their number one issue, this is an area that must be appropriately addressed.

The full report will be available next week and shared with all members, as well as government and department officials. It will also be available to read on the Dublin Chamber website, along with all previous reports from the Business Outlook survey series. Our Q4 survey will be launched in November, and we encourage your participation to help shape our future advocacy efforts.