Insights on Business Impact and Data Importance by Eoin Magennis
Explore the workshop discussing the significance of data in various business contexts presented by Eoin Magennis from InterTradeIreland. Delve into the analysis of economic, organizational, and regulatory factors shaping the All-Island Freight Forum. Gain insights into the challenges faced by businesses in different sectors and their strategies for survival, growth, or contraction amidst changing landscapes.
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Presentation Transcript
Putting the workshop and importance of data in context Eoin Magennis InterTradeIreland
Introductory remarks Why the All-Island Freight Forum? Economic, organisational and regulatory contexts The past is a different country
Sales slow to make a comeback with the second half of 2010 proving hazardous
Lag in any employment upturn Weighted data Percentage point difference
Higher levels of small firms more severely impacted by the downturn Weighted data Severe adverse impact Moderate adverse impact No impact Positive impact Don t know Base: unweighted /weighted Overall -53 -38 7 2 0% Base: 1029 / 1029 50 or more employees Base: 110 / 28 -39 -51 7 3 0% 11 to 49 employees Base: 229 / 96 1% -49 -42 5 3 10 or fewer employees Base: 690 / 905 0% -54 -37 7 2 % -100 -80 -60 -40 -20 0 20
Which of the following best describes the current position of your business? Weighted data Survival at All costs Reducing/ contraction Stabilising Growing/ expansion Don t know Winding down Base: unweighted /weighted Overall 1% -35 -7 43 12 -2 Base: 1029 / 1029 50 or more Base: 110 / 28 0% -11 -3 59 27 1% 11 to 49 Base: 229/96 -21 -3 55 21 0 10 or less Base: 690 / 905 1% -37 -8 41 11 -3 % 0 -100 -50 50 100
The same picture varies greatly by sectors Increased Decreased Net difference Base: unweighted /weighted Overall -69 16 -53% Base: 1029/ 1029 Agriculture Base: 55 / 57 -67 13 -54% Manufacturing Base: 89 / 77 -58 27 -31% Construction Base: 110 / 107 -92 5 -87% Business services Base: 221 / 230 -63 20 -43% Leisure, hotels, catering Base: 161 / 165 -73 12 -61% Retail, distribution Base: 272 / 278 Other services Base: 121 / 114 -72 12 -60% -56 24 -32% % -80 -60 -40 -20 0 20 40 60 80
Which of the following best describes the current position of your business? Weighted data Survival at All costs Reducing/ contraction Growing/ expansion Winding down Stabilising Don t know Base: unweighted /weighted Overall 1% -2 -35 -7 43 12 Base: 1029 / 1029 Agriculture Base: 55 / 57 4% -3 -29 -4 56 8 Manufacturing Base: 89 / 77 0% -1 -35 -9 42 13 0% Construction Base: 110 / 107 -14 -34 -12 34 5 Business services Base: 221 / 230 1% -1 -37 -2 42 18 Leisure, hotels, catering Base: 161 / 165 1% -1 -41 -6 43 8 Retail, distribution Base: 272 / 278 1% -1 -36 -8 41 13 1% Other services Base: 121 / 114 -1 -22 -10 51 15 % 0 -100 -80 -60 -40 -20 20 40 60 80 100
Recovery in external trade in 2010 after several years of decline
Falling levels of cross-border trade after a decade of growth
Rise in the share of cross-border trade for construction-related goods and products to 2007
Challenges to business % stating a huge issue for their business 2010 2011 Q2 Q3 Q4 Q1 Base 1,009 1,029 1,132 1,029 28% 27% 27% 24% Cashflow and access to credit 28% 28% 27% 26% A reduction in demand for good and services 12% 10% 10% 10% Keeping up with innovation in the industry 4% 3% 3% 3% Lack of appropriate skills in the workforce 5% 6% 6% 4% Difficulty in recruiting appropriate skills in the workforce 27% 27% 33% 41% Rising energy/fuel costs 26% 29% 33% 41% Rising costs from other overheads 22% 29% 24% 23% Business and consumer confidence New competitors in your market 12% 12% 11% 13% 12% 22% 19% 24% Discounting by competitors 12% 9% 8% 9% Current exchange rate between sterling and the euro 27% 25% 25% 22% Late payments from customers
Other challenges for the freight industry Restructuring of the industry Costs and pricing Regulatory environment including carbon emissions Congestion issues Connectivity off the island
