The bills are set to be a horror show.

But Cork businesses are pretty chipper about the future overall, according to a new survey by Cork Chamber.

The Chamber’s latest Economic Trends report saw members share their experiences through the most recent business quarter Q3 2022, their outlook for the fourth quarter 2022 and views on the impact of inflation, rising energy prices and measures to combat current challenges.

The survey found that 92 percent of businesses are ‘concerned or very concerned’ about the impact of rising energy costs, while 24 percent identified energy efficiency as a priority business action to combat rising prices and 20 percent will prioritise reducing overheads.

Nevertheless, 85 percent of businesses reported confidence in their individual business.

Despite the impact of rising energy prices on their operations, only 9% of businesses plan to cut staff in response to the energy crisis.

‘’This quarter’s findings share a picture of member companies’ resilience, with companies adapting to the new environment and taking balanced actions to combat the real challenges they are facing,” said President of Cork Chamber Ronan Murray.

“Almost a quarter of those surveyed report energy efficiency measures as a priority action to combat rising prices. This makes good business sense across the board – cost savings were the main motivating factor for companies, but closely followed by climate and sustainability impact.”