Mike Ryan is the owner of Coqbull and Cornstore and is warning that some businesses will find it hard to stay open if margins continue to be eaten up by overheads.
Increased costs for farmers and suppliers are leading to more expensive items on restaurant menus, however many operators are reluctant to pass the full increase onto their customers which is in turn leading to less profit.
Speaking to RedFM News, Mike Ryan outlines how increased costs are impacting him and his family
"I was out with my father yesterday - he got a delivery of fertiliser in yesterday, which was three times the price he got it in last year. If he spent €10,000 last year he's spending €30,000 this year, there isn't a €20,000 margin in farming that can be brought out of cattle. I know his diesel has gone up, you know, so I know from the root source that the prices have gone through the roof. And then even to run a restaurant - like we've doubled our gas doubled in a month, it went from €2,000 to €4,000 for a business to operate. That's crazy"
