Labour shortages threaten growth in SME sector, says banking lobby group

SMEs account for 60 per cent of all employment in Ireland, according to the BPFI

Brian Hayes, BPFI chief executive: “It will be important to leverage every available source for new skills and new workers for key sectors to maintain the positive recent momentum.” Picture: Fergal Phillips

Labour shortages and gap in skills threaten growth among small and medium-sized enterprises (SME), the Banking & Payments Federation Ireland has warned, amid record employment levels.

According to the federation’s SME Monitor, over 95 per cent of micro-businesses (those employing less than 10 people) in Ireland were experiencing skill gaps, while a Eurobarometer survey published in September 2023 showed that 61 per cent of SMEs in Ireland find it difficult to recruit machine operators, craft ...