Business/Property, News

Kerry Businesses Expect 50% Decline In Revenue Over Next 12 Months

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KERRY businesses’ trade is expected to down over 60% in the next three months compared to the same period in 2019, according the latest Chambers Ireland survey released on Wednesday

Also, Kerry businesses expect an estimated 50% decline in revenue for the next 12 months.

Ken Tobin, of Tralee Chamber said the results from this latest survey, supported by Tralee Chamber for the county of Kerry, demonstrates clearly that much more is needed to be done at a National level to stimulate the economy.

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“Under normal circumstances the body of work to support regional towns like Tralee, Killarney and other locations in the county was difficult,” said Mr Tobin. “For years we have been acutely aware of the regional imbalance that existed in creating new jobs and supporting our existing Employers in the county. Now with that fact that counties like Kerry have been overly impacted by Covid-19 economically, that job has become a lot harder”.

Nationally, Chambers are calling on Government to extend supports to businesses long-term in order to save jobs and to keep businesses trading through the next few months. The are calling on the Government to give certainty now to address liquidity issues by extending commercial rates rebates and the Wage Subsidy Scheme longer term to the year end.

As businesses reopen in reduced trading conditions, they will face mounting debt as they attempt to rebuild, and Government must act now to focus supports on keeping doors open over the coming months.

“Businesses in Kerry, and nationally, are very aware that many of the supports needed will not be announced until a new Government is formed, or at the very least until the Oireachtas is given the power to legislate,” said Ken Tobin.

“In the meantime, while that happens businesses will struggle and many more will go to the wall without more support. The government must realise that the longer they hesitate in forming a Programme for Government, the more damage that is being done to the economy and in particular to regional counties like Kerry.”