Tag: cyber threats

3 in 10 Irish businesses say supply chain disruption has worsened in the last five years

Three in ten (30%) Irish business leaders believe that supply chain disruptions have worsened in the past five years. The rising cost of materials is cited as the biggest supply chain threat being currently faced by Irish businesses, with more than six in ten (63%) of Irish business leaders stating this to be the case. Tariffs and cyber threats were also found to be major supply chain risks currently faced by Irish organisations (60%).

According to results of new research into business supply chains, conducted by the global insurance brokerage, risk management and consulting firm, Gallagher, one in ten (10%) Irish businesses expect supply chain issues to worsen in the next five years.

The results of the research, which are unveiled in a new global supply chain research report, provide a comprehensive view of the concerns, strategies, and risk management needs of business leaders in today’s uncertain world. The report, Supply Chains, Redrawn: Lessons from Business Leaders Across Industries, is informed by views from company directors in seven countries, across a broad cross-section of business sizes and industries. Ireland and the UK are two of the seven countries included in this report.

Other risks to supply changes as highlighted by the research include natural disasters/climate change (57%); geopolitical risks (50%); and labour disruptions (50%).

Commenting on the findings of the research, Laura Vickers, Managing Director of Commercial Lines for Gallagher said:

“Some of the biggest supply chain disruptions ever experienced have arose in recent years. These include the Covid 19 pandemic, the 2021 Suez Canal blockage, the Russian-Ukraine war, and recent extreme weather events and natural disasters. So, it’s no surprise that supply chain issues have really come to the fore for businesses worldwide in recent years, and Irish businesses are facing these challenges as much as others.”

Table 1: Current and potential supply chain risks faced by Irish businesses

Looking Ahead

Irish business leaders are slightly more optimistic than their UK counterparts – one in ten (10%) Irish business executives expect supply chain issues to worsen in the next five years compared to almost one in five (19%) respondents in the UK.

Further highlights from the Gallagher report include:

  • Labour disruptions (labour movement, workforce mobility, or strikes) and human rights issues top the list of supply risks which Irish business leaders are expecting in the future, with more than four in ten (43%) Irish business leaders anticipating that each of these issues will pose a risk to their firm (see Table 1).
  • Four in ten (40%) Irish business executives expect sanctions and export controls to present a supply chain risk into the future, with a similar number (37%) citing cargo theft.
  • Interestingly, while the rising cost of materials and tariffs top the list of the supply chain risks currently facing Irish businesses, the research found that Irish business leaders expect these risks to subside in the future.
  • Only 27% of Irish executives expect the rising cost of materials to be a supply chain issue into the future, while 30% cited tariffs.

Managing future supply chain risks

Over six in ten (63%) business executives in Ireland are investing in technology – specifically digital tools, AI, or monitoring systems – to help improve oversight and responsiveness and help manage supply chain risks. This is a slightly lower number than in the UK, where almost seven in ten (68%) of business executives said they were doing so. More than seven in ten (73%) Irish business leaders are also looking to alter supplier relationships in some capacity, due to past, current, and predicted future supply chain disruption. This compared to 64% of UK respondents.

More than six in ten (63%) Irish business executives and 61% (UK) also confirmed that they are adopting onshoring[1], nearshoring or friendshoring to help manage the supply chain risks currently impacting their business. This reflects the growing concerns held by Irish business leaders around geopolitical developments.

Just over a quarter (28%) of Irish businesses who experienced supply chain losses in the last 12 months had insurance in place to fully cover losses, leaving many firms facing potentially substantial costs to bear. This figure is significantly lower than the response from businesses in the UK (with 46% of affected businesses having losses fully covered) and the global response (32%).

Ms Vickers added:

“Irish businesses aren’t alone in facing ongoing supply chain disruption, and many of the issues that are affecting trade here are global. Escalating geopolitical conflict, the rising price of materials, and an influx of cyberattacks all presented unique and complex challenges to businesses last year and continue to concern decisionmakers in 2026. The continued disruption underscores the need to consult a risk management advisor to assess individual concerns and source comprehensive risk management and insurance products that may help to boost financial resilience.”

.ie Domain Profile Report 2024 shows appeal of owned websites remains strong

The latest .ie Domain Profile Report 2024, launched today, gives glimpse into future economic activity in Ireland, highlighting the value of a strong online presence in response the rapidly evolving digital landscape.
The report reveals that .ie continues to hold majority share of Ireland’s hosted domains (54.2%) followed by .com (29.43%) and .uk (7.33%) with a 16% increase in the total .ie database over the past five years, despite marginal decrease in total database vs. 2023 (0.5%).
Both nationally and globally, changes in the way consumers engage with eCommerce (for instance via social media platforms) highlights the importance of establishing a stable digital presence via a controlled and secure website.
Now in its tenth year, the report is an annual exploration of the .ie database and is published by .ie, the national registry for .ie domain names. It also highlights the challenges and opportunities faced by internet users, businesses and government within Ireland’s online ecosystem.
Digital Intention vs. Digital Growth
 
.ie’s flagship Digital Readiness Monitor report published last August revealed that one in three (36%) websites in Ireland have a low or very low level of sophistication. A website and the associated technologies it uses, serves as an indicator of how digitally advanced an organisation is. If the website is modern, functional, and user-friendly, it reflects that the overall approach to digital transformation and investment in technology. It is clear from .ie’s Domain Profile Report, and the Digital Readiness Monitor, that there is strong digital intention in Ireland; however websites are under-developed and digital growth is not yet possible.
In last year’s pre-budget submission, .ie called on government to invest in digital skills as an urgent requirement for SMEs and micro-businesses to compete on a global scale. Following the nomination of the current government it is the responsibility of Minister Jack Chambers, Public Expenditure, Infrastructure, Public Services, Reform and Digitalisation, to make grants and programmes more accessible to SMEs to boost export sales through digital marketing and improve productivity through digitalisation.
CEO of .ie David Curtin, emphasizing the importance of driving digital growth has said, ‘Since SMEs account for 99.8% of the number of companies in the Irish economy, supporting their growth and scaling efforts is crucial for a modern future-proofed Ireland.  The .ie Domain Profile Report shows that while there has been a lot of progress made in digital intent in Ireland, there is still a long way to go to convert this to real digital growth. The government must invest more in infrastructure and supports for SMEs to take them onto the next step of digitalisation.’
Overcoming the Digital Divide
The Domain Profile report also emphasises that digital technologies have the “potential to reduce the death of distance” and bridge the gap between rural and urban areas and unlock new opportunities for Irish businesses, regardless of location.  However, the report identifies evidence of an ongoing digital divide based on location, size and sector, in particular for micro-SMEs with fewer than 10 employees.
According to Eurostat, rural areas are falling behind when it comes to digital literacy across the European Union. In Ireland, 35% of people living in rural areas and 37% of people living in Irish towns and suburbs reported having above-basic overall digital skills, while 46.5% of the Irish population living cities reported having these skills.
The digital divide does appear to be lessening in commuter areas such as Kildare, Meath and Limerick where new .ie domain registrations continue to rise, however Connacht and Ulster largely recorded a decline in new registrations in 2024. .ie want to work with government to lessen this divide and ensure businesses can thrive and prosper online regardless of location.
Importance of a Website and Omni-Channel Approach
There has been a notable decline in domain creations on a global scale. CENTR, the association of European country code top-level domain (ccTLD) registries, has highlighted notable shifts in recent years, particularly post-Covid. One potential reason for domain registration decline may be due to a recent surge in social selling – where social media apps such as Facebook, Instagram and TikTok now have eCommerce capabilities on the app.
Reuters reported in December last year that TikTop Shop sales had reached $100million last Black Friday as bargain hunting American consumers spent big online.
While social media presents SMEs with an excellent opportunity to promote products and services, the recent US TikTok ban has revealed just how volatile it can be to use social selling as a business’ sole eCommerce platform.
.ie’s David Curtin advises ‘When it comes to building a credible, trustworthy digital presence, websites should be seen as ‘prime real estate’ for any business online. While social media is an excellent tool for increasing visibility and capturing audience interest, these platforms are limited in their ability to build lasting relationships with customers and, more importantly, convert them to sales. An “omni-channel” approach that offers customers more than one way to engage with business is best – where social media is used as a tool to drive traffic to a secure website. It is crucial that SMEs have control over their own eCommerce channels and are not solely reliant on third party selling platforms such as TikTok Shop which has been proven to be extremely volatile over the past few weeks’
A .ie website also provides reassurance for business owners that their main point of contact with consumers is safe from cyber threats as .ie websites boast significantly lower levels of spam and cyber threats, when compared to other top-level domains like .com.  .ie continuously works to reduce the impact of security threats to the .ie namespace. This includes manually reviewing .ie applications; continuous security scanning the .ie database; and ensuring consumer protection protocols are in line with national regulators and agencies.
Additional Domain Database Findings
 
Leitrim recorded the largest percentage growth (+51%) in new .ie domain registrations compared to 2023, followed by Tyrone (+20%) and Meath (+19%). Fermanagh has the smallest number of total .ie domain registrations in the country as just 191 total domains are registered there.
Keywords used in domain registrations continue to provide insight to public interest as Ireland, Dublin, Home, Design and House were among the top keywords used in registrations last year.
Cork pride appears to be strong as the longest .ie website address at 63 characters is corkcorkcorkcorkcorkcorkcorkcorkcorkcorkcorkcorkcorkcorkcork.ie; and the shortest web address with just 4 characters is 9.ie.
The .ie Domain Profile Report 2024 can be viewed here.
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