When first considering the review of the 2015 business year I thought about throwing out some headline statistics and dealing with what these figures meant for the economy in general.  But, statistics are not everything.  Statistics deal with general populations and tend to overlook the individual's experience.  They cannot measure the confidence people have in the economy, and confidence is so very important for the growth of our economy and our business' therein.

When I look back at the year, now very nearly finished, there has been, more confidence from the very outset of the year.  The conversations for most business' this year was around growth, unlike 'consolidation' in previous years.  Discussions have taken in topics such as overseas markets and expansion, alternative sources of finance for growth, staffing, investment in IT and infrastructures.

Significant job announcements have become more frequent.  GE Healthcare, Apple, Voxpro to mention a few, have all made significant job announcements for the Cork area in 2015.   Many more SMEs have quietly increased their workforces without the fanfare.

Confidence has imbued more positivity in conversations and this further adds to the confident mood.  The Cork Chamber of Commerce, in their third quarterly economic survey of 2015 found  "91% of business' reporting confidence in the financial future of their business."

Are there matters of concern? Of course; the Dollar/Sterling Exchange, China, ISIS and Oil, the skilled workforce, cost competitiveness, levels of taxation.  No matter how good the economy there are always risks, particularly when you have as open an economy as we have.  But confidence allows us to look at these risks, provide for them where we can, and get on with commerce (and growth).

By the way, some of those figures from 2015 (so far) that might be of interest:-

• GDP up 6.8% over the last 12 months
• GNP up 3.2% over the last 12 months
• New Passenger Car Registrations are up 29.84% over the same period in 2014
• New Light Commercial Vehicle Registrations are up 41.67% over the same period in 2014
• Number of housing planning permissions granted in the first half of this year up 74% over the same period in 2014
• New Companies Registrations are up 14% over 2014
• Companies struck off/dissolved down over 3%
• Total Expenditure by overseas tourists up 19% in Q3 this year over the same period in 2014
• Average weekly earnings up 2.7% over the last 12 months
• Numbers of People in Employment up 2.9% over the last 12 months
• People signing on the Live Register fell 10.2% (36,061) over the last 12 months

Interestingly all of the above have been achieved with LESS banking support. In 2015 loans to households fell by 2.7% and loans to business' fell by 6.1%

I guess, that while statistics are not everything, they still make for interesting reading.