The Institute of Directors (IoD) Ireland has released the findings of its Snap Poll 2024, highlighting the perspectives of 356 business leaders on the preferred government structures, critical business imperatives, and expected challenges for 2025.
When asked what the best government formation would be to support business, respondents showed a varied outlook but 63% said that a coalition of two parties would be the most progressive for the economy. Keeping stability in mind, 18% would prefer a majority-led, one-party government while less than 1% favoured a coalition-led Government with four parties.
The new research also asked business leaders what they believe should be the business imperatives included in the 2025 Programme for Government. Respondents were asked to rank in order of priority and the figures below show what the respondents chose as the number one imperative to be included were:
- 35% cited national infrastructure, including broadband and transport, roads
- 35% cited housing
- 9% cited energy policies
- 8% cited international trade
- 7% cited SME incentives
IoD Ireland CEO Caroline Spillane CDir remarked:
"Our Snap Poll 2024 underscores the dynamic and multi-faceted challenges and opportunities facing Irish businesses. As we approach 2025, clear priorities such as infrastructure, energy, and digital innovation will shape the policy landscape and drive economic growth. There will be a few interesting weeks ahead as the make-up of the next Government is negotiated and Ministerial appointments are made."
The biggest drivers for growth revealed digital transformation and new markets were key, while the US and the new EU Commission were listed as least important.
Respondents were asked to rank in order of priority, the below findings reveal what respondents perceive as the greatest drivers for growth in 2025:
- 18% cited Digital transformation and innovation
- 18% cited expansion into new markets
- 18% cited enhancement of products and services
- 12% cited Investment in new talent and skills (executive)
- 9% cited Generative AI
The below reveals what respondents’ felt would have the least impact on growth:
- 49% new US President and US trade
- 19% new EU Commission
Reflecting on the past year, respondents pointed to the cost of doing business (27%) and talent acquisition and retention (21%) as the most significant challenges of 2024. For 2025, economic and fiscal pressures (22%) and talent acquisition and retention (24%) emerged as top obstacles, alongside concerns over regulatory complexity e.g. GDPR and NIS2 (15%) and international trade tensions (13%).
The survey also addressed the priority areas that the next Minister for Enterprise should focus on in 2025. Respondents were asked to rank in order of priority, and below are the areas that the respondents deemed to be the most important:
- 37% cited infrastructure investment and development
- 14% cited global competitiveness and trade tariffs
- 10% cited foreign direct investment
- 10% cited enhancing digital transformation and innovation
- 8% cited SME tax rebates and supports
The survey was carried out in the week commencing 25th November, and the directors surveyed are all IoD Ireland members and represent a wide range of businesses, as well as State or semi-State bodies, not-for-profit organisations, SMEs, and plc/multinationals.
IoD Ireland is dedicated to developing and improving the effectiveness and performance of directors and boards throughout Ireland. IoD Ireland’s CPD framework for directors, c-suite and senior executives, and boards helps to drive higher standards in corporate governance in response to the ever-evolving policy, regulatory, macro-economic and governance environment in Ireland.