Core Insights - In the second quarter, 40% of small and medium-sized enterprises (SMEs) in Ireland reported growth, marking the highest level in over two years [1] - The latest "All-Island Business Monitor" surveyed over 750 business managers, revealing that more than half of SMEs remained stable, with only 7% reporting a decline [1] - SME confidence is stable with signs of moderate growth, but rising costs and tightening profit margins are testing resilience, with 60% of businesses citing costs as the biggest obstacle [1] Cost and Economic Challenges - Over one-third of businesses reported cost increases of over 10% in areas such as wages, energy, and insurance over the past two years [1] - One-fifth of businesses indicated that global political and trade uncertainties are a concern for the second quarter of 2025 [1] - Ten percent of businesses reported feeling the impact of tariffs [1] Strategic Insights - Martin Robinson, Strategic Director of InterTradeIreland, noted that resilience and moderate growth characterize the current situation, but ongoing cost and profit margin pressures are stressing businesses [1] - The Minister for Enterprise, Burke, emphasized that SMEs are the "backbone of our economy" and expressed commitment to supporting their growth and resilience [1]