Chamber survey shows grim business outlook
85% HAVE EXPERIENCED A DECREASE IN TURNOVER
The local business community turned out in force to attend last week's meeting. Credit: Paul Connor
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Wednesday March 17 2010
THE crisis meeting was called after a large number of established business people were asked detailed questions on what the main problems were in trading in Drogheda. The results are as follows:
- Have you had a decrease in turnover in the past year? 85% said yes.
- Have you employed fewer people in 2009? 53% said yes. - Have you put people on short time? 47% said yes. - Have you incurred losses in the past year? 63% said yes.
- Do you expect conditions to improve in 2010? 62% said no.
- Are you behind in payments to financial institutions? 59% said no. - Are rates in Drogheda too high? 86% said yes. - How much could you afford to pay? 85% said only half the current amount. - Will you employ fewer people in 2011? 66% said no. - Do you think your business can survive the current crisis? 64% said yes.
Other outstanding statistics from the meeting pointed out that water rates in the town had increased by 440% in the past fours years, with one business experiencing a 600% increase from € 20,000 per annum, to € 120,000 per annum.
The business community in Drogheda contributes 39% of the total Drogheda Borough Council budget and many chamber members called on Tuesday night for '39% of the decision-making'. The vacancy for buildings in Drogheda is: West Street 31%, Laurence Street 24%, Peter Street 22% and Stockwell Street 22%.
Rates in Drogheda have almost doubled since 2000, rising almost 2% from 2008 to 2009, when there was no increase in Dundalk.
It is the 21st highest in the country, out of 70 local authorities - 31 had no increase.
Over half of businesses in Drogheda have laid off staff since last year, and 70% have put staff on a threeday week.
The average is eight job losses per business.
- Alison COMYN
