Business competitiveness top priority for Cork firms ahead of Budget 2027

Business competitiveness measures are the top priority for Cork’s business community ahead of the pre-Budget 2027 submission period, according to the results of Cork Chamber’s Economic Trends Survey. Sponsored by PTSB, the survey measured business sentiment and economic outlook at the close of the first quarter of 2026, as well as seeking members’ views on key priorities for Budget 2027.

The Q1 2026 Economic Trends Survey found that:

• Business competitiveness measures, the cost of living and housing are the top three budget priorities for Cork businesses.

• Investment in infrastructure and connectivity was cited by respondents as the most important priority for investment in Ireland’s overall economic competitiveness.

• 95% of respondents believe that additional government support is needed to ensure delivery of the key strategic projects underway in the Cork region.

• Rising operating costs, geopolitical disruption and global trade uncertainty were cited as the top three emerging challenges for businesses over the next three to five years.

Increase in geopolitical concerns and cost challenges
Alongside rising operating costs, geopolitical disruption and global trade uncertainty have emerged as key challenges for business.

Commenting on the results, Cork Chamber President Rob Horgan said, “The results of the Economic Trends Survey this quarter illustrate the importance of enhancing Ireland’s economic competitiveness to mitigate the impact of geopolitical disruption and global trade uncertainty.

“From a domestic point of view, respondents emphasised the importance of investments in transport and connectivity to support economic competitiveness into the future. Supports for SMEs and start-ups, as well as utilities cost supports, were also highlighted by Cork’s business community as key priority areas for Budget 2027.”

Business confidence remains high despite global uncertainty
Overall business confidence among respondents remained high at 92% this quarter, despite the rise in geopolitical and trade concerns.

Stephen McCarthy, Business Banking Manager at PTSB, said, “It is encouraging to see levels of business confidence among respondents remaining high at 92% as the first quarter of 2026 draws to a close. Confidence in the Irish economy as a whole was also high at 78%.

“Although Cork’s business community reported an increase in concerns regarding the impact of geopolitical disruption and trade uncertainties, it is clear that Cork businesses are in a strong position, ready and willing to adapt as challenges arise.”

Mr Horgan concluded, “The resilience of Cork business is evident from the survey results. To sustain economic and population growth into the future, continued investment in key projects of strategic importance for the Cork region in Budget 2027 will be vital.”

Full results and previous quarterly economic survey results can be found on www.corkchamber.ie/quarterly-economic-trends/