Geopolitical instability - a key concern for Cork’s business community

– Cork Chamber’s Economic Trends Survey found that 71% of responding businesses are concerned about Ireland’s security landscape –

Geopolitical instability emerged as the number one security concern for Cork’s business community, followed by cyber threats and energy supply disruption. Sponsored by PTSB, the Q2 2026 Economic Trends Survey of Cork Chamber members measured business sentiment and economic outlook among the business community, as well as gathering insights into Cork Chamber members’ perception of the security landscape.
The Q2 2026 Economic Trends Survey found that:

• Geopolitical instability, cyber threats and energy supply disruption are the top three security concerns for Cork businesses.
• 71% of responding businesses are concerned about Ireland’s security landscape.
• Government investment in the resilience of critical national infrastructure was the top priority for members when it comes to enhancing Ireland’s security landscape.
• Diversification of energy sources emerged as another key priority, with 63% stating that investment in alternative and renewable energy sources was an organisational priority.
• 70% of businesses reported investing in cybersecurity over the past 12 months, with new software and systems, employee training and risk planning the top three areas of investment.

Security concerns emerge as key priority amid geopolitical instability
Security concerns have emerged as a key priority for Cork Chamber members in recent months as geopolitical uncertainty continues. Geopolitical instability is the top source of concern for Chamber members, followed by cyber threats and energy supply disruption.

Cork Chamber President, Susie Horgan, said, “The results of this quarter’s Economic Trends Survey clearly illustrate the impact of ongoing geopolitical disruption on Cork businesses. Across cybersecurity, energy security and the security of critical infrastructure, concerns are increasing, alongside corresponding investment by organisations in resilience.

“Despite this uncertainty, business confidence remains strong, with 89% of respondents expressing confidence about the future of their business from an overall financial perspective. Cork businesses have demonstrated their capacity to remain agile and dynamic time and time again in the face of external challenges. However, it is vital that Government takes steps to invest in the security of our national critical infrastructure and our energy security, investing in renewables and domestic generation, to provide certainty for businesses and investors, and enhance Ireland’s overall competitiveness.”

Strong turnover and net profit reported despite increase in cost pressures
Concerns regarding the cost of energy and raw materials, as well as changing consumer spending, emerged as key threats to business growth reported by respondents. However, economic confidence remains high among Cork businesses, with over 40% of respondents reporting increased turnover and net profit in Q2 2026.

Stephen McCarthy, Business Banking Manager at PTSB, commented, “With 73% of responding businesses expressing confidence in the Irish economy at the close of this quarter, it is evident that notwithstanding the geopolitical backdrop, Cork businesses are in a strong position as we enter the second half of 2026.

“Looking ahead, the potential impact of rising costs on business growth is a clear concern, yet many respondents continue to report strong turnover and net profit. 41% of Cork businesses predict an increase in turnover in Q3 of 2026, demonstrating the continued competitiveness and resilience of the regional economy.”

Full results can be viewed online:  https://www.corkchamber.ie/quarterly-economic-trends/