How are Ireland’s domestic private and family-owned businesses faring in an era of inflation, resourcing issues, lightning-fast technology change and sustainability challenges? 

And what are the policy measures they’d like to see to help them continue to prosper and grow?

These are just some of the questions we asked almost 200 of Ireland’s leading indigenous businesses and entrepreneurs in order to get insights into how they are not just coping with an ever-changing world, but how they are gearing up to take advantage of opportunities.

Our survey showed both resilience and measured confidence in the future amongst Irish businesses and entrepreneurs. However, it also points to the serious challenges that such companies are having to contend with.


Domestic business crucial for economic and social success

It’s almost impossible to overestimate the importance of these businesses to Ireland’s social and economic well-being.

We work with them at every stage of their growth and, in many cases, have been privileged to share the journey with them as they grow in scale and stature, acting as pioneers for businesses looking to export and expand internationally.

We see first-hand how they provide meaningful employment for local communities, sustain tax revenues to help fund our society and act as role models and investors for our future entrepreneurs.

Moreover, their ingenuity and innovation can be instrumental in helping us solve challenges in areas ranging from technology, health and nutrition to pragmatic decarbonisation and environmental protection.

We want to thank them for taking the time to share their insights, concerns and hopes for the future and to acknowledge the vital importance of domestic businesses and the people who lead them.

We hope that our report highlights a range of actionable insights that can be considered by government, policymakers and the business community to secure a positive, innovative and sustainable future for all.

Alan Bromell

Alan Bromell
Head of Private Enterprise
KPMG in Ireland

Key findings
Great expectations: staying competitive in a digital world. 69% believe digital transformation is essential. 38% expect to hire more staff. 55% expect an increase in turnover in the next 12 months
Tax Matters Encouraging and supporting domestic entrepreneurship. Only 24% Believe the tax regime favours multinationals more than domestic business. Top 3 Measures indigenous businesses would like in Budget 2024. 83% Tax measures to encourage sustainable behaviour. 79% Amend Capital Gains Tax rates or rules. 74% Reduce tax rate for dividends for entrepreneurs.
People Power: Attracting and retaining the right talent. 60% Of businesses find it difficult to recruit the right people. 45% Say the tax regime is a disadvantage for the recruitment and retention of employees. 62% Have strategies in place to any address gender balance gap in their management teams.
Sustainable Ireland: 7 in 10 Businesses are actively pursuing sustainability measures. 66% Of businesses are concerned over the lack of clarity on the costs/benefits of sustainability measures. 75% Say no stakeholder group has advocated for a decarbonisation strategy.

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At KPMG, we are committed to encouraging and supporting domestic entrepreneurship and helping companies in Ireland grow. Our teams work nationwide to support privately owned and entrepreneurial businesses to achieve their ambitions.

If this sounds like you, we should be talking. We look forward to hearing from you.