A survey by the Association of Chartered Certified Accountants (ACCA) found that while 84pc of small and medium enterprises (SMEs) anticipate tariffs will affect the broader business environment, just 2pc cited them as a specific risk to their own organisation.
Instead, firms pointed to more immediate domestic pressures, with the cost of doing business cited as the top risk to growth by 40pc of respondents.
However, despite these perceived challenges the overall outlook among Irish SMEs remains upbeat.
Almost nine in ten businesses said they are either as confident or more confident about the year ahead compared with the same time last year.
This confidence is reflected in employment expectations as only 3pc of businesses said they anticipate job losses in the year ahead.
Almost every business surveyed (97pc) expects employment levels to either increase or remain stable through 2026, pointing to a steady labour market across the SME sector.
Investment plans for businesses look to be taking a cautious approach as nearly three in ten SMEs expect to increase investment over the coming year, while a further 65pc said they anticipate investment will remain broadly in line with current levels.
Growth remains the main priority for 30pc of businesses as they noted expanding operations as their top focus for the year ahead.
Upskilling staff is emerging as a key area, particularly in digital capabilities.
Almost a quarter of respondents said that training employees in artificial intelligence (AI) is a priority.
This move reflects the increasing role of the evolving technology across sectors.
While global factors such as tariffs are on the radar, the survey suggests Irish SMEs are more immediately concerned with managing costs and keeping their businesses competitive at home, it said.
“That the vast majority of businesses expect stable or increased employment, alongside sustained investment levels, is a strong signal of underlying confidence in the domestic economy,” said Stephen Noonan, the head of ACCA Ireland.
“While challenges remain, particularly around costs and the pace of digital change, businesses are clearly focused on growth and on equipping their people with the skills they need, including in emerging areas such as AI,” he added.
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