The Q1 2026 Economic Trends survey of Cork Chamber members gathered insights into their experiences of doing business across January, February and March 2026. Sponsored by PTSB, this edition of the Economic Trends survey also sought members’ views on key business priorities ahead of Budget 2027.
Business competitiveness measures, across costs, regulation and enterprise supports, emerged as the top priority for respondents when it comes to Budget 2027. Ireland’s overall economic competitiveness is determined by a range of factors, with respondents citing investment in infrastructure and connectivity as the most important consideration in Budget 2027.
Rising operating costs, geopolitical disruption and global trade uncertainty were the top three emerging challenges expected to impact the business community over the next 3 to 5 years.
78% of respondents expressed confidence in the Irish economy in Q1 2026, on a par with 80% in the last quarter of 2025. Of the 22% who cited a lack of confidence in the Irish economy, geopolitical concerns, rising business costs and housing supply were the top concerns.
45% predict an increase in employee numbers over the next 12 months, an increase on recent surveys. 29% report an increase in employee numbers this quarter, similar to recent surveys.
Of the 50% of respondents with vacancies currently advertised, 41% report difficulties filling these roles. Specialist skills shortages remain the top barrier, increasing from a low of 46% in Q2 2025 to 66% in this quarter.
The number of respondents reporting a decrease in turnover and net profit increased slightly in Q1 2026, however those predicting an increase in turnover in the next quarter remains high at 54%. 38% expect an increase in net profit.
