Staff spending dropped 20% as SMEs scaled back investment when Covid struck

The level of investment declined sharply in sectors hit particularly hard by the public health restrictions such as hotels and restaurantsSmall and medium sized enterprises scaled back capital plans as the Covid-19 pandemic struck in early 2020, as larger firms cut their level of investment by more than smaller ones with spending on staff down by as much as a fifth, according to a new report.

The proportion of investing SMEs was relatively constant between 2017 and 2019 at approximately 64 per cent or just under two-in-every three firms. The mean investment in 2020 was just over €93,000, down from €106,000 in 2019. However, it is “not clear” this can be entirely attributed to a Covid-19 effect as there was also a substantial drop between 2018 and 2019, when mean investment fell by 32 per cent from €156,000.

The level of investment declined sharply in sectors hit particularly hard by the public health restrictions such as hotels and restaurants, wholesale and retail and construction.

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Former St Vincent's hospital staff member avoids jail after spending €22k on company credit cardA former staff member at St Vincent's University Hospital who fraudulently used a company credit card to make purchases of over €22,000 has avoided a jail term. Strange one....he has one week to find the 22k and repay it, so didn't need to steal from his employer if he has these means? Hmmm A wonderful message to send out. “Of New Park road, blackrock” No jail term Yep, makes sense
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