Bibby Financial Services Ireland and SBCI launch new Trade Finance product as part of its €70m funding facility for Irish SMEs

Ability to buy and sell goods before needing to pay for them will enhance Irish SMEs’ capacity for international trade ahead of Brexit

A new Trade Finance product that allows businesses to buy, receive and sell goods before needing to pay for them has been unveiled by Bibby Financial Services Ireland, a leading provider of financial support and funding solutions to SMEs, in collaboration with the Strategic Banking Corporation of Ireland (SBCI). The new product is ideally suited to Irish SMEs looking to buy goods for resale, either within Ireland or from overseas.

Purchasing goods for resale can offer significant opportunities for growth, but small-to-medium sized businesses will often lack the resources and in-house skills to manage the complexities of buying and selling overseas.

SMEs can also face difficulties accessing sufficient cash for the purchase of goods, or may be unable to obtain or agree credit terms with suppliers. However, the new Trade Finance product guarantees to pay a business’s suppliers once goods are dispatched, and can also provide SMEs with much-needed funding to bridge the gap between paying suppliers and receiving payment from customers.

The Trade Finance product is tailored to support businesses operating in more than 70 different sectors, from clothing, textiles, cosmetics and perfumes through to electronics, furniture and sporting goods. The new facility is being offered in collaboration with the SBCI, which has partnered with Bibby Financial Services Ireland since 2016 to make €70m in funding available to Irish SMEs.

Under the terms of the product, Bibby Financial Services Ireland will make a same-day payment to suppliers, as well as paying duty, VAT and freight costs. The product is funded through the SBCI, and offers SMEs a discount of 2.16% per annum.

Clients will also have access to additional products including the foreign exchange service offering more competitive rates than many of the leading banks, and Bad Debt Protection to protect against a customers’ insolvency or inability to pay.

Pat Breen TD, Minister of State for Trade, Employment, Business, EU Digital Single Market and Data Protection, says: “I am delighted that Bibby Financial Services has today announced a new Trade Finance product developed in collaboration with the Strategic Banking Corporation of Ireland.
While the nature of the UK’s departure from the EU still remains to be determined, Brexit continues to represent a significant challenge for businesses in Ireland. This product is designed to provide short-term finance to fund upfront purchase of stock and, with Brexit on the horizon, investment in working capital diversification has never been more important.”

Mark O’Rourke, Managing Director at Bibby Financial Services Ireland, says: “Safeguarding cashflow is one of the biggest challenges facing Irish SMEs, but many businesses lack the cash reserves and necessary expertise to meet demand for orders, especially large ones, severely limiting their potential for growth.

“Our new Trade Finance product gives businesses greater security, keeps the supply chain moving, and means they can buy and sell goods confident in the knowledge that they won’t suffer from a shortfall. As the SME specialists, our team of trade finance experts understand and can respond quickly to the needs of business owners, allowing them to accept new order and fulfil potential saves.”

Nick Ashmore, CEO at SBCI, says: “The SBCI is delighted to support Bibby Financial Services Ireland as it expands its portfolio to include this exciting new Trade Finance product. Availability of and access to sufficient working capital is critical for the success of any business and this product will assist Irish businesses seeking to expand and grow in a safe controlled way.”

Bibby Financial Services Ireland is a leading provider of financial support and funding solutions to Irish SMEs. The company helps businesses to thrive and grow in domestic and international markets by providing bespoke financial assistance and a wide range of specialist and working capital funding options.

Bibby Financial Services Ireland’s funding portfolio includes confidential invoice, trade and export finance, foreign exchange services, bad debt protection and specialist funding for a range of sectors

Bibby Financial Services Ireland is part of Bibby Financial Services Group, an independent financial services partner to over 10,000 businesses across 14 countries. The Irish operation was established in 2006 and has an expert team of 30 employees based in Sandyford, Dublin.

For more information about Bibby Financial Services Ireland, please visit: www.bibbyfinancialservices.ie

Find us on LinkedIn or follow us on Twitter @BibbyFinanceIE

Advertising Standards Authority for Ireland releases latest Complaints Bulletin

  • 14 advertisements found to be in breach of the ASAI Code on grounds relating to Misleading Advertising, Health & Beauty, Nutrition and Children 

The Advertising Standards Authority for Ireland’s (ASAI) independent Complaints Committee has released its latest Complaints Bulletin, which contains 16 case reports on complaints recently investigated by the organisation.

13 of the 16 advertisements were found to have been in breach of the ASAI Code on grounds relating to Misleading Advertising, Health & Beauty, Nutrition and Children. The advertisements complained of related to Email, Social Media, Online, Radio, Television and Print advertising. One of those upheld related to intra industry / interested party complaints. The ASAI Complaints Committee chose not to uphold two consumer complaints and one intra industry / interested party complaint.

The Complaints Committee is a completely independent arm of the ASAI and is responsible for considering and dealing with complaints submitted by the public, by a member of the ASAI, by a Government Department or any other person or body of persons. The Committee is made up of a range of experts from the advertising, media, education, consumer and marketing sectors. See further details here – http://www.asai.ie/about-us/complaints-committee

Commenting on the latest ASAI rulings, Orla Twomey, Chief Executive of the ASAI, stated:

“The latest complaints bulletin from the ASAI illustrates our ability to handle complaints across a large number of mediums. The ASAI is committed to protecting consumers in relation to advertising, – across all mediums – and our approach is to work with all advertisers to ultimately ensure that all marketing communications are legal, truthful, decent and honest.

“The ASAI provide a free and confidential copy advice service to the advertising industry to help them create responsible ads. If an advertiser, agency or medium has any concerns about a marketing communications’ compliance with the ASAI’s Code, they can contact us and avail of the free and confidential copy advice service.”

Professor Bairbre Redmond, Independent Head of the Complaints Committee of the ASAI, says:

“Over the past few years, the Complaints Committee, comprised of independent and industry members, has dealt with a broad range of complaints. The Complaints Committee has also spent considerable time highlighting awareness in relation to advertising best practice within the advertising industry, ensuring all relevant parties are equipped with the knowledge and resources to correctly identify commercial marketing content across their platforms.”

Below is a list of complaints that have been found to be in breach of the ASAI Code:

Company/Organisation Complaint Category Further Details
  Motivation Weight Management   Decency and Propriety   16 complaints were received with five issues raised. Issue one stated the advertisement was a form of bullying. Issue two suggested the depiction on the woman was excessively unkind. Issue three noted that it raised the pressures which social media gives in relation to body image and considered the image had the potential to effect people’s mental health. Issue four stated it suggests the person in the advertisement was distressed because she needed to lose weight which is deemed irresponsible and the fifth issue questioned the weight of the woman in the advertisement who appeared to be of normal weight.   In breach of sections 3.3, 3.23 and 12.8 of the code.   Complaint Upheld in part.   Link: https://www.asai.ie/complaint/slimming-4/
  Universal Pictures Ireland     Decency and Propriety   Two complaints were received in relation to two advertisements for ‘Halloween’ that were shown on Virgin Media channels before 21:00 on the grounds that they were not suitable for family viewing time.   In breach of section 7.2 and 7.4 of the code.   Complaints Upheld.   Link: https://www.asai.ie/complaint/entertainment-3/
  The Sunday Business Post   Decency and Propriety   The complainant considered the advertising to be ageist and discriminatory under current legislation on the grounds of age.   In breach of section 3.17 of the code.   Complaint Upheld in part.   Link: https://www.asai.ie/complaint/publishing-newspaper/
  Smyths Homevalue Wexford   Decency and Propriety   The complainant considered the advertisement racist and that the advertisers were selling goods on the basis of racism. In breach of section 3.17, 3.19 (b) and (c) of the code. Complaint Upheld. Link: https://www.asai.ie/complaint/diy-tools/
    OH Fitness     Recognisability   The complainants noted that the influencer OH Fitness was a sponsored athlete for the advertisers MyProtein brand. As the influencer had not declared that she was a sponsored athlete in the posts where she was wearing the clothing, they considered that the posts were in breach of the code. In breach of section 3.31 and 3.32 of the code.   Complaints Upheld.   Link: https://www.asai.ie/complaint/health-fitness-2/
  As I Am Clinic   Misleading / Health     The complainant considered the advertisement created an unrealistic expectation by using “Complete Elimination of Autistic Spectrum Expression”, that it was misleading in relation to the causes of Autism and the claims on detox, and that it created a fear of vaccinations.   In breach of sections 3.23, 4.1, 4.4, 4.9, 4.10, 11.1, 11.10 and 11.9 of the code.   Complaint Upheld.   Link: https://www.asai.ie/complaint/health-beauty-35/
  RosaleenAllen.ie   Misleading / Health   The complainant considered the advertising created unrealistic expectations of a cure for autism by referring to the therapy as CEASE. The complainant also considered the claims related to the causes of autism to be bogus claims which created fear and guilt in relation to vaccinations. The complainant then queried the validity of the detox claims referenced in the advertising.   In breach of sections 4.9 and 11.1 of the code.   Complaint Upheld.   Link: https://www.asai.ie/complaint/alternative-therapies-2/
  Argos   Misleading   The complainant considered the advertisement to be misleading as it implied the game was available to purchase immediately at the price stated. However, the product at that price was only available as a pre-order as the game had not yet been released.   In breach of section 4.1 of the code.   Complaint Upheld.   Link: https://www.asai.ie/complaint/computers-hardware-entertainment/
  Bluecrest Health Screening   Misleading / Health   Ten complaints were received about the direct mailings from the advertisers. The first issue considered the marketing communication to be misleading and that it would cause confusion and anxiety amongst consumers. The second issue considered the marketing communication resembled communications from the HSE and health centres communicating about health appointments and by inviting consumers to confirm their time, implied that an appointment had already been made. The third issue considered that multiple mentions of the ‘Free’ GP helpline was misleading as it was only on the fourth page that the cost of the screening, upon which the access to the free service was dependent, was mentioned.   In breach of sections 4.1, 4.4 and 5.22(a) of the code.   Complaint Upheld.   Link: https://www.asai.ie/complaint/health-4/
  Musgrave Group   Misleading   The complainant considered the advertisement to be misleading. The leaflet that the complainant received stated that the offer was available only in selected stores. After calling around to a number of stores the complainant was informed that the item was sold out the previous week, one week earlier than it was stated on the leaflet.   In breach of sections 4.1 and 4.4 of the code.   Complaint Upheld.   Link: https://www.asai.ie/complaint/supermarket-5/
  Flanagans Furniture LTD     Misleading   The complainant purchased the product and said that, although it appeared complete on the website, it was delivered flat-packed and therefore required assembly. They felt that this was misleading as this information was not provided on the product page.   In breach of sections 4.1 and 4.4 of the code.   Complaint Upheld.   Link: https://www.asai.ie/complaint/household-furniture-2/

The ASAI upheld a complaint made by Intra Industry / Interested Parties in the following case:

Company/Organisation Complaint Category Further Details
  Ryanair   Misleading   A complaint was received from Aer Lingus regarding the advertisement stating that Ryanair was No. 1 for punctuality. They said the advertisement was inaccurate, misleading and should not be used again   In breach of sections 4.1, 4.4 and 4.9 of the code.   Complaint Upheld.   Link: https://www.asai.ie/complaint/airline-services-3/
  Four Star Pizza   Misleading / Food   Two complaints were made on two posts posted by Four Star Pizza on their Facebook page. The Irish Heart Foundation objected to post one stating that the content was irresponsible by making fun of a balanced diet. They considered the content of post one indicated that a doctor’s recommendation was being mocked and by doing so were trying to engage with young people. The ASAI Executive asked the advertisers to comment on post two as it had featured a person appearing to consume a very large pizza.   In breach of sections 8.4 and 8.6 of the code.   Complaint Upheld in part.   Link: https://www.asai.ie/complaint/food-8/

The ASAI chose not to uphold a complaint made by Intra Industry / Interested Parties in the following case:

Company/Organisation Complaint Category Further Details
  Kellogg’s   Health / Children   Complaint one came from The Irish Heart Foundation who expressed concerns regarding the content of the advertising. They felt this advertisement was in breach of section 8.16(b) of the code which stated marketing communications should not mislead children as to the potential benefits from consumption of a product either physically, socially or psychologically. In this regard they considered the advertisement had clearly portrayed children stating they were in heaven and very happy when eating the chocolate cereal. The second complaint, also coming from The Irish Heart foundation, stated the advertisement was in breach of section 8.18 of the code. which states communications should not condone or encourage poor nutritional habits or an unhealthy lifestyle in children. In this regard they considered it to be inappropriate to feature a young girl exclaiming that she would love to have chocolate in everything.   Complaint Not Upheld   Link: https://www.asai.ie/complaint/food-9/  

The following complaints were investigated and following investigation, the ASAI Complaints Committee did not uphold the complaints. Both complaints were made by a consumer party:

Company/Organisation Complaint Category Further Details
  Procter & Gamble Ireland   Decency and Propriety     Nine complaints were received in relation to the advertisement. The complainants felt that the advertisement was offensive and that the use of the word ‘bedgasm’ was overtly sexual in nature. They also stated it was inappropriate to show the advertisement before 21:00 as it introduced children to adult concepts and prompted them to enquire as to the meaning of the word ‘bedgasm’, which would leave parents in an uncomfortable position.   Complaint Not Upheld.   Link: https://www.asai.ie/complaint/household-10/
  An Post (Irish Book Awards)   Decency and Propriety     The complainant referred to the problem of drugs in Ireland and said that the advertisement in his view implied an acceptance of mind-altering substances. The complainant considered the advertisement to be grossly inappropriate and in poor taste.   Complaint Not Upheld.   Link: https://www.asai.ie/complaint/leisure-16/

The ASAI conducts ongoing monitoring of advertising across all media and since 2007, has examined over 27,000 advertisements, with an overall compliance rate of 98 per cent. The ASAI Monitoring Service monitors compliance with the Complaints Committee’s adjudications.

Media members are reminded that advertisements found to be in breach of the Code cannot be accepted for publication.

www.asai.ie

Or follow the ASAI on Twitter @THE_ASAI

Bibby Financial Services Ireland opens Cork office as it continues to expand supports for SMEs nationwide

New office opens as 71% of Irish SMEs call for Government to implement tax breaks to help deal with Brexit

To facilitate an increase in business in the Munster region, Bibby Financial Services Ireland (BFSI), a leading provider of financial support and funding solutions to Irish SMEs, has announced the opening of its new Cork office.

The new office, located at Unit 10, South Bank, Crosse’s Green in Cork city centre will be led by recently-appointed Head of Sales for Munster Stephen McCarthy and offer bespoke financial assistance and a range of products tailored to support small and medium-sized businesses. BFSI is already working with leading Munster businesses such as specialist recruitment agency Hamilton French, and the new office will drive further expansion in its client base across the region.

The latest SME Ireland Confidence Tracker, published by Bibby Financial Services Ireland, found that 63% of SMEs believe the government should do more to assist the sector, with 71% identifying the need for additional tax breaks. The research also found that half of Irish SMEs expect to see either a slight (37%) or significant (12%) increase in sales in Q2 of 2019, despite the uncertainty regarding the outcome of Brexit. A further 38% expect their sales to remain steady.

Bibby Financial Services Ireland helps businesses to thrive and grow in domestic and international markets by providing bespoke financial assistance and a wide range of specialist and working capital funding options. Its funding portfolio includes confidential invoice, trade and export finance, foreign exchange services, bad debt protection and specialist funding for a range of sectors. With a global reach from North America, across Ireland, the UK, Europe and South East Asia, Bibby Financial Services possesses expert knowledge to assist businesses trading in these locations.

Stephen McCarthy, Head of Sales for Munster at Bibby Financial Services Ireland, said: “Cork continues to build on its reputation as a leading national and international business hub – thanks in no small part to its vibrant SME sector. We’re delighted to be expanding our geographical reach to give SMEs in Cork and the wider Munster region direct access to invoice financing and a range of funding solutions that can make a real difference to their business, safeguard cashflow, and fuel further growth.”

Mark O’Rourke, Managing Director at Bibby Financial Services Ireland, said: “We’re focused on building out our regional teams to support Irish SMEs responding to the challenges posed by Brexit – many of whom will be adversely affected by any disruption to existing supply chains or further fluctuations in the value of Sterling. The new Cork office will provide a convenient point of contact for SMEs looking to make the most of their business by speaking to a member of our expert team.”

Sean McGrath, Managing Director of Hamilton French, said: “Partnering with Bibby Financial Services Ireland was a game-changer for our business. Their in-depth knowledge of the challenges facing SMEs, the opportunities for growth, and their understanding of the various sectors for which we provide tailored recruitment services has seen our business go from strength to strength. We’re looking forward to working even more closely with the team here in Cork.”

Bibby Financial Services Ireland is part of Bibby Financial Services Group, an independent financial services partner to over 10,000 businesses across 14 countries. The Irish operation was established in 2006 and has an expert team of 30 employees headquartered in Sandyford, Dublin.

For more information about Bibby Financial Services Ireland, please visit: www.bibbyfinancialservices.ie

Find us on LinkedIn or follow us on Twitter @BibbyFinanceIE

The Local and European elections were the most important news story of May 2019 according to Core Cultural Index

  • Stories that generated greatest public awareness included Pieta House’s Darkness into Light event
  • President Trump’s visit to Ireland was of low importance to Irish people in May

The local and European elections, the divorce referendum and Pieta House’s Darkness into Light event were the most important news stories in Ireland in May 2019. This is according to research from Core’s Cultural Index, compiled by Ireland’s largest marketing communications company, and based on the views of 1,000 participants discussing 20 news. Core’s research asked interviewees which stories they were aware of, and of them, deemed most important.

While turnout for the elections was only 50%, 91% of all adults were aware of the political campaigning and voting. Of these, 71% said it was important or very important to them, leading to this political event recording an Index score of 69.5. Pieta House’s ‘Darkness into Light’ event came in as the second most engaging story with 83% of people aware of the event taking place and scoring it high on importance in their life.

Crime-related stories also scored high in awareness in May, with 85% of people aware of the three men shot in Dublin related to criminal gangs, and 77% of people aware of the continuing trial in relation to the murder of Ana Kriegel.

Stories that received less interest included the resignation of Theresa May, and US President Trump’s announcement of his intention to stay in Doonbeg in County Clare. While 89% of Irish people were aware of the resignation, just under half of people (49%) said it was important to them. Similarly, while  nearly every Irish person (94%) was aware of President Trump’s visit, only 28% of Irish people said it was important to them. 

News surrounding Maria Bailey TDs fall off a Dublin hotel swing and the Minister for Housing’s description of co-living was an exciting opportunity had the least importance in Irish life. While political journalists and commentators spent hours discussing the Maria Bailey case, more people were aware of the Spice Girls’ Dublin concert (85%) and the final episode of Game of Thrones (78%) than they were of the swinging TD (68%). Similarly, more people (particularly younger renters) were aware of Love Island returning than they were of Minister Eoghan Murphy’scomments.

Core employs a team of 310 people and consists of nine practices – Creative, Data, Investment, Learning, Media (comprising of Mediaworks, Spark Foundry, Starcom and Zenith), Recruitment, Research, Sponsorship and Strategy. Core has been voted Agency Network of the Year for the last six years at the Media Awards and the company was also recently voted one of the top workplaces in Ireland by the Great Place to Work Institute for the tenth year running.

Advertising Standards Authority for Ireland (ASAI) issues new guidelines relating to the advertising of non-alcohol product variants

  • New guidelines are effective immediately
  • Onus is on brands and advertisers to ensure all non-alcohol product advertising and promotion complies with the ASAI code

The Advertising Standards Authority for Ireland (ASAI), the independent self-regulatory body committed to promoting the highest standards of marketing communications in Ireland, has introduced new guidelines relating to the advertising of non-alcohol product variants.

Marketing communication for alcoholic drinks are already required to adhere to the ASAI’s Code of Standards for Advertising and Marketing Communications in Ireland, which applies to all commercial marketing communications, regardless of the medium in which they appear. Given the emergence of more non-alcoholic products on the market, the ASAI has now developed new guidelines to assist brands in the development of their advertising and marketing communications for these products. These new guidelines for non-alcohol beverages comes into force immediately.

Below are the key points of the new guidelines:

1) It should be made very clear at the start and throughout a marketing communication that the product is non-alcoholic.

a) Note: There should be no scope for confusion over the product’s content from the beginning so that consumers are able to easily identify that the product being advertised is a non-alcoholic product.

b) To ensure the nature of the product is easily identifiable, the following should be taken into account;

i) the context of the name of the product;

ii) and/or the content of the ad;

iii) and/or the media used.

c) Three potential scenarios are given by way of example:

i) Media – TV / video on demand: If the product name clearly indicates the nature of the product, then this should be displayed prominently throughout the ad.

ii) Media – outdoor / print / non video online content: If content immediately makes it clear that the product is a non-alcohol product, no further clarification is required.

iii) Media – radio: the nature of the product should be made clear at the beginning of content

2) If there is absolutely no doubt that the product is a non-alcohol product variant:

On the basis that the product is an alternative to alcohol, the depiction of activities which could be considered a risk to personal safety (similar to that if alcohol was being or was to be consumed) is unlikely to be considered in conflict with the Code requirements at Section 9.8.

3) Children:

a) Children’s media and advertising that is proximate to schools must be avoided;

b) Advertising should not appeal to minors in either placement or content.

4) Marketing Communications should be clearly aimed at people aged 18 and over:

a) Treatments that would appeal primarily to children should not be used;

b) Anyone depicted in a marketing communication shown drinking or playing a significant role should be aged over 25 and should appear to be over 25.

Orla Twomey, Chief Executive of the ASAI, says the new guidance note is being published in the best interests of consumers, those involved in the advertising industry and Irish society in general.

“The market for non-alcohol products has seen an increase in recent years. It’s important that there is no confusion between these products and alcohol products, and that advertising contains no appeal to children. We have developed these guidelines to help companies who deliver the marketing communications for non-alcohol products.”

“As the independent self-regulatory body committed, in the public interest, to promoting the highest standards of marketing communications in Ireland, the ASAI aims to lead the way in ensuring all marketing communications are legal, decent, honest and truthful.”

Or follow the ASAI on Twitter @THE_ASAI

Perfect Property announce rollout of online property search platform across Ireland

  • Galway and Cork first on agenda for nationwide expansion of innovative property search platform

Perfect Property, Ireland’s innovative property search engine that lists properties for sale and to rent from a range of estate agents, including REA, Knight Frank, REMAX, Savills and Sotheby’s, has launched their nationwide rollout.

The platform began operating just 12 months ago, and after much success in Dublin and the greater Leinster region, which saw more than €1.16 billion listed on the property platform and more than one million buyers viewing those properties, Perfect Property is Ireland’s fastest growing property website.

Galway and Cork will be first on the agenda for the expansion of Perfect Property’s services, with more counties to follow.

The Perfect Property platform has a wide range of user-friendly features, meaning it is fast becoming the property search portal of choice for home buyers and sellers, as well as those seeking a new rental property. They include:

  • Perfect Match – which allows buyers to search for the exact features that they require from a new home, saving hours of trawling through irrelevant and unsuitable property profiles online.
  • An Agent Finder tool, which allows home sellers to identify and compare estate agents operating in their locality.
  • Perfect Room – a tool which allows you to see how a room in a property might look when you have transformed it in your own style. Users can simply slide the picture across to unveil the transformation before their eyes.
  • A range of top tips and advice for those who are house hunting – everything from how to find your dream home and how to choose the right estate agent when selling to interior design advice.

Currently, most property platform searches are restricted to property type, area and number of bedrooms. Perfect Property’s Perfect Match feature, however, allows buyers to refine their search to suit their exact requirements and, most importantly, their budget. It also allows buyers to specify what type of buyer they are – a first-time buyer, a mover, a down-sizer or an investor.

It also allows buyers to state if they want a new home, an older property that is ready to move into, or a ‘do-er upper’. If buyers know that they will want to convert an attic or extend in the future, they can narrow down their search to only show properties where they can add potential.

For estate agents, standards sales and letting listings on the portal are free, with charges only for those opting for the Maximise & Supersize Leads advertising packages. Estate agents also sign up to a rolling ‘month to month’ contract, meaning no annual ‘lock-in’ contracts.

The platform also allows buyers to search multiple counties at once, and will only match buyers with properties that deliver their specific search criteria, making it quicker and easier to find the home of your dreams.

By searching all areas, Perfect Property will also identify all options available within a viewer’s budget and matching their specific requirements, meaning they won’t miss out on that potential dream home.

Unlike other property listing websites, Perfect Property is also unique when it comes to the benefits they offer estate agents and potential buyers.

With Perfect Property, estate agents can:

  • Attract motivated sellers with Ireland’s only Estate Agent comparison platform
  • Advertise properties to Perfect Property’s social media audience of more than 185,000
  • Sell difficult properties with their Virtual Renovation offering

Perfect Property also offer estate agents a 30 day free trial when they first join. There are no obligations to this free trial, just the opportunity to test the platform for themselves to see if it is the right fit for them.  

Commenting on the national rollout, and the benefits offered to estate agents, Laura Pollard, Managing Director of Perfect Property, says: “After much great success in Dublin and Leinster, we are very excited to launch Perfect Property nationwide. We offer many innovative features for both buyers and estate agents. For buyers, having features such as Perfect Match and Perfect Room, make it quicker and easier to find the home of their dreams. For estate agents, we don’t believe in lock-in contracts, subpar customer service and an outdated approach to property marketing—all of which are current issues in the market. This refreshing approach has allowed for our rapid growth to date.”

www.perfectproperty.ie

www.facebook.com/perfectpropertyie/

Instagram: @perfectpropertyie

New ‘Let’s Talk Bad Debt’ campaign to help SMEs tackle payment shortfalls launched by Bibby Financial Services Ireland

Campaign unveiled as research shows that one third of Irish SMEs have suffered a bad debt over past 12 months – with half writing off up to €10,000

A new ‘Let’s Talk Bad Debt’ campaign has been unveiled that aims to help SMEs ensure they receive payment promptly from clients and customers. The campaign, launched by Bibby Financial Services Ireland, a leading provider of funding solutions to Irish SMEs, also provides business owners with practical tips and advice to protect their cashflow.

Recent research from Bibby Financial Services Ireland’s Q1 SME Confidence Tracker revealed that over a third of SMEs have suffered a bad debt over the past twelve months. Of those that have suffered from bad debt, over half have written off up to €10,000.

The new Let’s Talk Bad Debt campaign offers SMEs a range of resources and practical advice to manage customers in arrears, from offering alternative payment terms to more punitive measures such as adding interest or late payment charges. Bibby Financial Services Ireland’s team of financial experts also provide insight into effective credit control systems that are an essential part of reducing the risk of bad debt.

To protect themselves from bad debt, SMEs should adopt some of the following practices:

  • Know your customers – run credit checks on all new customers before offering credit terms and set appropriate credit limits
  • Set basic requirements – avoid taking on customers who fail to meet these
  • Use effective credit control – implement a structured approach to help reduce the likelihood of overdue payments
  • Have clear payment terms – make your payment terms clear and consistent from the start
  • Invoice quickly and accurately – avoid unnecessary delays by ensuring invoices are accurate and issued on time

Mark O’Rourke, Managing Director of Bibby Financial Services Ireland, says: “Even businesses that are thriving can be just a few unpaid invoices away from suffering cashflow issues – particularly in the SME sector.

“But the earlier business owners take action, the more likely they are to prevent funding gaps or have to write off bad debt. Even simple actions such as implementing a structured approach to credit control and having clear payment terms can make a big difference, and our new campaign is designed to equip SMEs with the tools and knowledge they need to ensure continued success.”

Bibby Financial Services Ireland is a leading provider of financial support and funding solutions to Irish SMEs. The company helps businesses to thrive and grow in domestic and international markets by providing bespoke financial assistance and a wide range of specialist and working capital funding options.

Bibby Financial Services Ireland’s funding portfolio includes invoice discounting, factoring, export finance, foreign exchange services and specialist funding for a range of sectors.

Bibby Financial Services Ireland is part of Bibby Financial Services Group, an independent financial services partner to over 10,000 businesses across 14 countries. The Irish operation was established in 2006 and has an expert team of 30 employees based in Sandyford, Dublin.

For more information about Bibby Financial Services Ireland, please visit: www.bibbyfinancialservices.ie

Find us on Linkedin or follow us on Twitter @BibbyFinanceIE