More than half of businesses in Cork have no dealings in Northern Ireland highlighting significant untapped potential, according to the results of a new survey.
Cork Chamber’s Economic Trends report shows just 16% of Cork firms have regular or frequent dealings in the North with a third of businesses reporting occasional cross-border trade.
While firms cited market access difficulties, logistics and regulatory challenges, Cork Chamber President Rob Horgan said there is significant room for growth in the trade relationship between Cork and Northern Ireland.
“Market access and regulatory differences present challenges but they also present an opportunity for businesses to innovate and adapt,” he said. “By streamlining connectivity and addressing regulatory disparities, we can open doors to more seamless trade between Cork and Northern Ireland, creating new partnerships that benefit both regions.”
“There are significant opportunities for Cork businesses to explore new markets, collaborate on innovation, and strengthen their supply chains by engaging more with our Northern Ireland neighbours. With the right support structures, businesses can navigate post-Brexit complexities and unlock growth potential.”
In May, Cork and Dublin chambers participated in a forum event hosted by the Northern Ireland Chamber. At that forum, the restoration of flights between Cork and Belfast along with the development of a high-speed rail network between both cities emerged as two recommendations.
The chamber members also met with politicians to discuss key areas for an all-island approach to economic development. Conor Healy, Cork Chamber CEO, said Northern Ireland’s unique position as part of the UK internal market while, at the same time, having unique access to the EU’s single market of nearly 450 million people, provides a solid opportunity for growth.
Separately, the chamber’s PTSB Economic Trends survey found confidence among Cork businesses remains positive. In the third quarter, 95% of respondents expressed confidence in the financial performance of their business, matching the levels seen in the previous two quarters. In addition, confidence in the Irish economy rose to 88%, up significantly from 72%, underscoring a resilient broader business climate. Rising business costs (25%) were the top reason for a lack of confidence.
“This level of confidence speaks volumes about the resilience and adaptability of Cork’s business community,” Mr Horgan said. “Despite persistent challenges — rising costs, skills shortages, and geopolitical uncertainty — businesses are demonstrating an unwavering commitment to growth. However, it’s important that these underlying issues are addressed if we’re to maintain this positive momentum in the coming quarters.”
While business confidence remains high, the survey reveals that rising business costs (25%), housing supply (14%), and skills shortages (11%) are the main factors causing concern. The issue of housing, in particular, is having a tangible effect on business growth. Nearly one-quarter of businesses (22%) flagged housing availability as a top barrier to filling vacancies.