There is little evidence to suggest Irish firms are feeling the impact of the so-called credit crunch, so far, according to a national report by BT and InterTradeIreland.

The first report of its kind, has predicted that businesses may not experience the pinch until next year.

Over three-quarters of the 4,000 firms surveyed, in the report, said the impending crunch is likely to have influence over the coming 12 months.

Many of those questioned suggest the level of impact may only be moderate.

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Over 60% of those involved in cross-border trade expect turnover to increase in the future.

The country's current infrastructure was highlighted as the business communities' main concern. Although over half believe further investment will provide better transport over the next three years.

Almost three quarters of these suggested improvements would further benefit North-South links.

Irish employment levels are expected to increase or be maintained, according to 86% of firms, with a quarter suggesting difficulties in fill positions.

InterTradeIreland's Strategy and Policy Director, Aidan Gough, said: "In tough economic times, trading on an all-island business offers companies North and South a golden opportunity to grow their business by expanding into new markets which are right on our doorstep."

(PR/JM)