SMEs
Surging labour costs are the ‘most significant challenge’ for vast majority of firms - report
New research carried out by Red C on behalf of KPMG Ireland shows the number of firms worried about rising wage costs has doubled from last year
Increased labour costs are the single biggest challenge for 85 per cent of firms, according to new research.
This is almost double the equivalent figure recorded for last year, according to the latest business survey from KPMG, which was carried out by Red C.
The findings come in the wake of the government’s decision to hike the minimum wage to €12.70, an increase of €1.40, from January 1 this year. Further hikes are expected this year and next, with the minimum wage projected to surge to €15 an hour by 2026.
