Tech firms in Ireland confident of revenue increase

It seems that confidence levels among digital tech companies in Ireland are on the rise.

The Irish Software Association’s (ISA) 2014 Digital Technology Index reports that 81.5 per cent of tech companies in Ireland feel more confident about their business than they did 3 months ago.

An overwhelming majority (94 per cent) of the companies surveyed also expected revenues to increase in the coming 3 months, with 87 per cent anticipating an increase in export revenues.

As a result of such optimism, 75.9 per cent of tech companies said that they had plans to take on more staff.

Despite the positive outlook, Edel Creely, ISA chair, said that the sector must still tackle some key challenges before such ambitions could be realised.

‘Access to finance remains a challenge, the Central Bank numbers show that the level of credit outstanding for the technology sector has been largely unchanged over the last two years, despite growth in the sector,’ she said.

‘The tech industry has benefited from the experience of successful entrepreneurs investing and advising new start-ups, but more need to ensure they have adequate access to finance, she added.’

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