77% of companies expect to grow their business in the next five years by developing new products and services, research from Deloitte shows.
The survey of 128 businesses involved in ‘Ireland’s Best Managed Companies’ programme reveals that 63% plan to increase their headcount, while 56% are planning mergers and acquisitions.
Just 2% of the companies surveyed aim to achieve an IPO in next five years.
When it comes to sustainability, 12% of companies said they are “very ready” to implement new reporting regulations, while 33% are “ready”.
Half of the companies said they were “somewhat ready”, while 5% are “not ready”.
When asked to identify the sustainability measures they are already undertaking, 64% said they tracked the success of their ESG policies, just over half said they reported carbon emissions and 52% said they had a sustainability manager in place.
Over a third have availed of grants or schemes related to retrofitting, and 46% have built targets into their business plans.
Meawhile, the survey found that over two thirds of Irish companies believe talent retention will be a significant challenge in the coming year.
A total of 67% listed retaining staff as a potential obstacle, putting it ahead of supply chain disruption, environment and sustainability challenges, cybersecurity threats and access to capital.
Article Source – New products and services to spur growth for 77% of firms – RTE
