89% of Munster SME’s are confident about business prospects over the next 12 months despite considerable challenges ahead – new research from Bibby Financial Services Ireland

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  • 93% of Munster SMEs say they are planning to invest in their business over the next year

 

  • Top three concerns for Munster businesses over next year are energy prices (49%), economic issues due to geo-political events (38%) and inflation / rising costs of raw material (38%)

 

  • Top three opportunities involve attracting new customers (67%), building new supplier relationships (42%) and taking on new staff (33%)

 

  • 36% of Munster SME’s use a credit card to finance their business – a concerning figure considering this is a high-cost funding option

 

89% of Munster SME’s say they are confident about business prospects and opportunities over the next 12 months despite the considerable challenges ahead, according to research conducted by Bibby Financial services Ireland, a leading provider of financial support and funding solutions to Irish SMEs.

 

The research shows that 53% of SME’s in Munster expect their turnover to increase over the next year. 40% say their turnover will stay the same while only 7% expect a decline in sales. Of those who say they expect their turnover to increase, 54% say it will increase between 6% and 10%, while 25% say it will increase between 11% and 20%.

 

The results very much demonstrate a stoic resilience amongst the Munster SME community despite the fact that they are dealing with a lot of economic volatility thanks to a range of domestic and international hurdles that are largely outside of their control.

 

When it comes to investment plans, 93% of SMEs in Munster say they are planning to invest in their business over the coming 12 months, with just 7% saying they have no plans to invest. Some of the key areas for investment are:

 

  • Staff recruitment (40%)
  • Machinery and Equipment (33%)
  • Staff training and development (31%)
  • Retaining Staff (29%)
  • Digital Technology and IT (27%)
  • More renewable energy options (16%)

 

Although the majority of SMEs are quite positive facing into the next annual period, challenges and concerns were noted, with a sense of growing uncertainty about the looming challenges ahead. Energy prices (49%), economic issues due to geo-political events (38%) and inflation / rising costs of raw material (38%) are stated as the top three concerns for Munster businesses.

That said, SME resilience shone through when asked about opportunities in the year ahead. Attracting new customers (67%), building new supplier relationships (42%) and taking on new staff (33%) are seen as the biggest opportunities for Munster SME’s in the next 12 months. 22% say trading internationally is an opportunity, while 7% cite Mergers and Acquisition activity as a prospect.

 

When it comes to financing their business, 84% of Munster SMEs surveyed by Bibby Financial Services say they use a form of external business finance. Among the most popular forms of financing are:

  • Business loans (38%)
  • Credit cards (36%) – slightly higher than the national average of 30%
  • Overdrafts (29%)
  • Private equity (27%)
  • Invoice Finance (9%)

 

Given the fact that business loans, credit cards and overdrafts require a business to take on even more debt – at a time when they don’t need it – SME’s should be considering more sustainable and long term solutions such as Invoice Finance, a facility that offers businesses access to money outstanding from their unpaid invoices, helping them to access income they have already earned but not yet received.

 

Unlike a loan, credit card or overdraft, Invoice Finance does not involve ongoing monthly repayments. This revolving credit option means that once your invoices are paid, you can just continue the cycle – upload your invoices, draw down, use the funds and simply repeat. In addition to assisting with cashflow, it’s worth noting that Invoice Finance can also be utilised to fund a range of other growth scenarios such as investing in infrastructure or equipment, funding Research and Development, financing an expansion, Mergers and Acquisition activity or simply stabilising a business during turnaround.

 

49% said that the level of finance available was a key attribute they considered when choosing a finance provider, while 47% said a ‘relationship-based approach’ was important, with 31% stating that the ability to apply online was important.

 

Chasing unpaid invoices is the top financing issue for almost one third of Munster SME’s (33%) followed by the effective management of day-to-day cashflow (31%) and managing the risk of a customer non-payment / bad debt (22%).

 

Of Munster SME’s who have had to open a new business account due to the imminent departure of KBC and Ulster Bank, 50% said they found it hard to find a ‘human’ to talk to discuss their issues, while 50% said changing technology was difficult as they had to use different apps. 33% said that they had to reapply for an overdraft, which was time consuming and caused cashflow problems.

 

Stephen McCarthy, Head of Business Development at Bibby Financial Services Ireland, says:

“All Irish businesses, including those in Munster, are once again bracing themselves for further economic volatility thanks to a range of domestic and international hurdles that are largely outside of their control. However, rather than showing a business population anxious about the challenges they are facing, the result of our survey demonstrates a stoic resilience amongst the SME community in Munster.

 

The package of measures announced by the Government to support businesses and households is extremely welcome, and will help address some of the pain points in the short term, but the question now is whether it will it go far enough to ensure the long-term survival of many businesses. Only time will tell the true extent of the impact on the business landscape.

It’s important to acknowledge the resilience of Munster SMEs and their ability to adapt and change – coupled with the wide-ranging support available from the private and public sectors – and hopefully this will fuel Munster SMEs who continue to play a pivotal role in Ireland’s overall economic solidarity over the coming months.”

 

1000+ businesses in Swords and 450+ businesses at Greenogue Business Park in Rathcoole to benefit from €50m+ investment by Enet in fibre networks

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  • New 10km network around Swords will incorporate Swords Business Campus, Seatown Business Campus, Swords Business Park, The Pavillions Shopping Centre and Airside Business Park

 

  • New 4km backhaul and fibre infrastructure in Greenogue Business Park in Rathcoole will provide the ability to connect mobile towers and over 450 new businesses to a new high speed fibre network

 

  • Work has also commenced on 45km of high-capacity fibre along the north and west of Dublin City which will increase capacity in Dublin by 900% and allow for 700 terabytes of traffic

 

Enet, Ireland’s largest open access telecoms network provider, has announced a significant new €50m+ investment in fibre networks in multiple locations around Ireland – including Swords and at Greenogue Business Park. The expansion will see Enet’s fibre network connect major commercial, retail and industrial zones to increase the availability of high-capacity data transport for data centre connectivity, mobile data traffic and mission critical business traffic.

 

The new €50m+ investment will allow network operators and more business premises across the country to directly connect to Enet’s comprehensive telecommunications network. Businesses on Enet’s network can avail of connectivity up to 100 Gbps within Ireland and to multiple international destinations in Europe and North America. Key focus areas from Phase 1 of investment include:

 

  • Over 45km of new fibre networks along the north and west of Dublin city, connecting all of the major business parks which are home to the various IDC’s, telehouses and multinational companies as well as 25 Dublin data centres. Enet is increasing fibre availability on the route, known as the T50, by 900% and will allow for 700 terabytes of traffic

 

  • A new 10km network around Swords providing fibre connections to 1000+ businesses across Swords Business Campus, Seatown Business Campus, Swords Business Park, The Pavillions Shopping Centre and Airside Business Park

 

  • A new 4km backhaul and fibre infrastructure in Greenogue Business Park in Rathcoole which will provide the ability to connect mobile towers and over 450 new businesses to a new high speed fibre network

 

  • The installation of ‘Fibre To The Tower’ in a range of locations

 

  • New locations are made available on Enet’s customer self-serve portal as they near completion

Enet, which is part of the Speed Fibre Group, has already expanded its Dublin Metro network by over 18.5km between January to May this year in areas such as Rathmines in Dublin 6 and Westmoreland Street in Dublin 2.

Enet operates the largest alternative wholesale telecoms network in Ireland, which comprises of over 5,600 Km of fibre infrastructure, including the Irish State’s Metropolitan Area Networks (MANs), proprietary metro networks, a unique dark fibre backhaul infrastructure, as well as one of the largest licensed wireless networks in the country. Taken together, Enet’s infrastructure creates a fully integrated nationwide telecommunications network that is truly open access in nature, enabling retail service providers and network operators to deliver world class data connectivity services to their customers throughout Ireland and enabling them to connect internationally.

 

Enet also offers carriers a wide and innovative range of world-class fibre and wireless wholesale products and services, ranging from Managed Connectivity, Infrastructure Access, Direct Internet Access and white label broadband.

 

Peter McCarthy, Group CEO of Speed Fibre Group, the home of Enet, said: “We’re delighted to announce this significant new investment as it allows us to deliver the highest quality network connections in crucial commercial areas in Ireland, including Swords and at Greenogue Business Park. By implementing critical fibre networks to provide high bandwidth telecommunications connectivity to our wholesale customers, we are supporting thousands of businesses and consumers across the country with the network capacity they need to grow and prosper. By further enabling our world-class telecommunications networks, this investment will also really cement Ireland’s position as an ideal location for businesses to operate in.”

The new investment announcement by Enet follows an agreement earlier this year with EXA Infrastructure to deliver international optical network connections between Dublin and datacentres in Europe and across the North Atlantic.

The partnership covers over 40 key priority datacentres in Europe including Frankfurt, London, Amsterdam, Paris, Marseilles and Milan as well as a variety of North American routes on the EXA Infrastructure network, which is now the largest dedicated digital infrastructure platform connecting the two continents. Importantly, this service from Enet also facilitates the delivery of large volumes of data for datacentre workloads, including ultra-high-definition video content, Internet of Things applications and the continual rise in the usage of cloud-based applications.

 

Enet is a part of Speed Fibre Group, the home of telecommunication businesses Enet and Magnet+, and is an Irish investment vehicle focused on telecoms infrastructure as well as communications service provision.

Speed Fibre Group entities have a combined annual turnover which now approaching €80M, with more than 200 staff and over 11,000 customers. Offices are located in Limerick and Dublin. In addition, it boasts over one million people benefiting from wholesale networks – including mobile phone users, students, residential broadband users, public sector workers and staff in multinational organisations.

Speed Fibre Group is owned by the Irish Infrastructure Fund (IIF) which manages capital for more than 20 institutional investors, the majority of which are Irish pension funds, trusts, and investment managers. To date, the IIF controls over €500m of investments across energy, telecoms, tourism and healthcare in Ireland.

 

www.enet.ie

Advertising Standards Authority for Ireland releases latest Complaints Bulletin

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12 advertisements across social media, email, online and print were found to be in breach of the ASAI Code on grounds related to a range of issues including Misleading, Principles, Availability, Substantiation and Food and Non-Alcoholic Beverages

 

13th October 2022 – The Advertising Standards Authority for Ireland’s (ASAI) independent Complaints Committee has released its latest Complaints Bulletin, which contains 15 case reports on complaints recently investigated by the organisation.

 

12 of the 15 cases were upheld. Advertisements across email, social media, online and print were found to be in breach of the ASAI Code on grounds related to Misleading, Principles, Availability, Substantiation and Food and Non-Alcoholic Beverages. The ASAI Complaints Committee chose not to uphold complaints made against 3 advertisers.

 

The Complaints Committee is a completely independent arm of the ASAI and is responsible for considering and adjudicating on complaints submitted by the public, by an organisation, by a Government Department, or any other person or body. 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 shows the significant part we play in ensuring that advertisements are legal, truthful, decent and honest for all Irish consumers. The ASAI fully investigates all complaints thoroughly to ensure that advertisers in Ireland are adhering to the guidelines.”

 

“The ASAI also provides a free and confidential copy advice service to the advertising industry to help them create responsible ads that adhere to the advertising code. 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.”

 

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

 

Advertiser Medium Complaint Category Description Complaint Status Section Breached Link
Ryanair Email Advertising Misleading  

The complainant considered the advertisement for car hire sent to them via email as misleading. The complainant stated that the prices shown in the email advertisement were significantly less than the prices listed on the actual website.

 Upheld 4.1 https://www.asai.ie/complaint/travel-car-rental/
The Black Rabbit Internet (Social Media) Principles  

The complainant considered the advertisement offensive and degrading to women.

 Upheld 3.10, 3.17 and 3.20 https://www.asai.ie/complaint/entertainment-5/
Parcel Motel Company Website Misleading / Availability  

The complainant stated the website promoted parcel delivery between Ireland and the U.K.  The complainant considered the advertisement misleading after they enquired about the service and were told it was no longer available.

 Upheld 3.10, 4.9, 4.10 and 4.27 https://www.asai.ie/complaint/business-2/
Woodies DIY In-Store Sales Promotion Misleading / Substantiation The complainant considered the advertisement in the store misleading as posters featured above logs stated “sale” when upon enquiring he was told the logs were not included in the sale. Upheld 3.10, 4.1, 4.9 and 4.10 https://www.asai.ie/complaint/household-22/
 

Teach Scoile: The Happy Tummy Co.

  

Internet (Advertisers’ Website)

  

Food and Non-Alcoholic Beverages

  

The complainant stated that various claims listed multiple times throughout the website regarding the 2 Day-Soaked Wholegrain Chia Teff Bread Loaf were misleading as they believed the claims were unsubstantiated and not scientifically proven. They also believed the claims were misleading as the ‘medicinal’ effects of the bread have not been proven in clinical trials.

 Upheld 8.8 and 8.9 https://www.asai.ie/complaint/food-beverages-18/
Dollard Pizza Online (Social Media) Misleading / Substantiation

 

  

The complainant considered the advertisement misleading as he said that he could

not find any substantiation behind the claim ‘Dublin’s Best New York Style Pizza’.

 Upheld 4.33 https://www.asai.ie/complaint/leisure-29/
 

Irish Wax Seals

  

Online (Company Own Website)

  

Misleading

  

The complainant purchased a custom-made wax seal from the advertisers as they

believed they were an Irish company. The cost of the item was

stated in euro, the company URL and email contact were also presented as if they belonged to an Irish company. The complainant stated that the website did not inform customers

that the business was in the UK and that items were shipped from there until after their confirmation of purchase.

  

Upheld

  

4.1 and 4.4

 https://www.asai.ie/complaint/business/
Ivertec Online (Company Own Website) Misleading

 

  

Issue 1:

The complainant objected to the advertisement on the basis that the claim “Connecting

every rural home” was inaccurate and misleading as the advertisers only operate in

Kerry and Cork.

 

Issue 2:

The complainant stated that the claim offering “wireless fibre speed broadband” was

misleading. They said that fibre broadband is delivered via cable while the broadband

offered by the advertisers was a wireless internet service. They also said that fibre

broadband delivered speeds up to 1,000Mbps whereas the wireless broadband offered

delivered speeds of maximum 50Mbps.

  

 

Issue 1: Upheld

 

 

 

Issue 2: Upheld

 4.1 and 4.9 https://www.asai.ie/complaint/telecommunications-broadband-6/
 

Howden Tools and Garage Equipment Ltd

 Leaflet Misleading  

The complainant considered that the advertisement depicted images of female models in

extremely sexualised positions and that this sexualisation of women was derogatory and

socially irresponsible. They felt that it promoted harmful gender stereotypes and portrayed

women as sexual objects.

 Upheld 3.17 and 3.20 https://www.asai.ie/complaint/motoring-48/
 

PhoneWatch

  

Online (Social media)

  

Scope and Application / General

  

The complainant considered the advertisement to be offensive on the grounds that only one gender was being recruited for the role specified through the use of the world “Salesman” on the post.

 Upheld 3.10 and 3.18 https://www.asai.ie/complaint/employment-opportunities-4/
 

Randox Laboratories Limited

  

Online (Advertisers Own Website)

 Misleading  

There were four complaints received regarding two advertisements.

 

Ad 1: Complaint 1

The complainant had a PCR test on a Friday evening at 7pm and based on the advertising, considered that they should have received their results by 11pm on Saturday night. The complainant did not receive their results until 4.29am on the Sunday morning and because of the delay in receiving their results, had to arrange a second test with another company at an extra cost.

Ad 1: Complaint 2

The complainant considered the advertisement on the website which stated “results would be received by 11.59pm the next day” as misleading, as their test results were not received by 11.59pm the next day which resulted in them missing their flight.

 

Ad 2: Complaint 1 & 2

Two complainants considered that the name of the test “Next Day PCR Test” and the advertising claim of results being delivered by 11.59pm the next day were misleading, as they were contradicted by the terms and conditions which stated that results would be notified within 48 hours of receipt at laboratory.

 Advert 1: complaints 1&2

Upheld

Advert 2: complaints 1&2

Upheld

 4.1, 4.4, 4.9 and 4.10 https://www.asai.ie/complaint/health-6/

 

The following advertisements were investigated and the ASAI Complaints Committee found that they did not breach the Code on the grounds raised in the complaints.

 

Advertiser Medium Complaint Category Description Complaint Status Section Breached Link
Imagine Online (Company Own Website) and Leaflet  

 

 

Misleading

 

 

 

  

The complainant considered the advertisement misleading as it stated broadband speeds of up to 150Mb.They found after signing up their broadband speed was extremely slow.

 Not Upheld N/A https://www.asai.ie/complaint/telecommunications-broadband-5/
 

Bulmers

  

Television

  

 

Scope and Application / Alcoholic Drinks

  

Issue 1:

The complainant considered that the advertisement had featured an activity that was childlike and attractive to children as their eleven-year-old child said they would like to try catching apples. The complainant also considered that the man at in the advertisement looked like a child from the behind.

 

Issue 2:

The complainant considered that the reference to the calorie content of the product implied that it is healthy despite being an alcoholic beverage.

 

 Not Upheld N/A https://www.asai.ie/complaint/alcohol-29/
 

National Lottery

  

Radio / Television / Company Own Website

  

Scope and Application / Misleading

 

13 complaints were received in relation to three advertisements in the campaign.

 

Issue 1:

The complainants considered there was a lack of substantiation and transparency around the claim “90% of money spent on the national lottery goes back into the community.”

 

Issue 2:

The complainants considered that retailers did not constitute the community, especially larger organisations which are funded by shareholders.

 

Issue 3:

Two complainants contended that the money does not go back into the community but to the Ontario Teachers’ Pension Fund.

 

  

 

 

 

 

Issue 1:

Not Upheld

Issue 2:

Not Upheld

Issue 3:

Not Upheld

 N/A https://www.asai.ie/complaint/leisure-30/

 

The ASAI chose to uphold one complaint made by an Intra-industry or Interested Party in the following case:

 

 

Advertiser Medium Complaint Category Description Complaint Status Section Breached Link
 

PhoneWatch

  

Online (Third Party Media)

  

Principles / Misleading

 

The complainant considered the advertisement misleading to consumers as they did not believe the claim “PhoneWatch customers are 4 times safer than any other home security provider according to statistics from the CSO burglary report and PhoneWatch ARC data” could be substantiated. The complainant stated the advertisers own alarm receiving data could not prove their service was safer than others. They also requested evidence from the CSO burglary report.

 Upheld 3.10, 4.1, 4.4, 4.9, 4.10, 4.32 and 4.33 https://www.asai.ie/complaint/business-home-security/

 

 

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 percent. The ASAI Monitoring Service monitors compliance with the Complaints Committee’s adjudications.

 

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

www.asai.ie

 

Follow The Advertising Standards Authority for Ireland on LinkedIn and Twitter @THE_ASAI

 

 

 

For further information, please contact:

Breda Brown / Viv Murphy – Unique Media

Tel: 01 5225200 / 087 6160846 (VM)

 

Editorial Notes:

 

The Advertising Standards Authority for Ireland is financed by the advertising industry and committed, in the public interest, to promoting the highest standards of marketing communications that is advertising, promotional marketing, and direct marketing. The objective is to ensure that all commercial marketing communications are ‘legal, decent, honest and truthful’.

 

Media are required to abide by the Code and not to publish an advertisement or conduct a promotion which contravenes Code rules. The Code covers commercial marketing communications and sales promotions in all media in Ireland including digital (online banners, websites, and social platforms), print, outdoor, radio, TV, leaflets/brochures, and direct marketing.

 

Further information on advertising self-regulation, the ASAI, and the operation

of the system is available at www.asai.ie

 

-Ends-

 

FM104 unveils fresh radio station image and new marketing campaign to promote 104 Drive with Graham and Nathan

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FM104 has unveiled a fresh image for the radio station as well as a marketing campaign to promote the stations new drivetime show ‘104 Drive’ with Graham and Nathan.

 

The heavy weight marketing campaign focuses specifically on 104 Drive, the new drivetime show presented by Graham O’Toole and Nathan O’Reilly. The pair, who joined FM104 this month as part of a new presenter line-up, are on air from 3pm to 7pm each weekday, bringing a fresh new sound to the evening commute. Utilising the ‘We’ll Pick You Up’ tagline, the execution reflects the energetic and unpredictable nature of Graham and Nathan.

 

 

The campaign features across a range of channels with a bullseye target of 25–35-year-old Dubliners. A host of OOH and Digital OOH are being used to generate strong visibility across the city, including Metropoles, AdShel Digital and screens in Applegreen service stations. Digital Display will be visible across platforms such as TheSun.ie, Enterainment.ie and the Journal.ie group while audio ads will directly target Spotify and Acast listeners interested in entertainment.

 

The campaign will be supported by social to allow deeper audience engagement by alerting them to what to expect from the new drive time show. Content on Instagram, TikTok and Facebook will highlight the “We’ll pick you up” campaign theme.

 

The media planning and buying was handled by Dentsu Ireland while the creative concept and creation of assets was driven by Studio Ireland, the internal creative house of Wireless and News Ireland.

 

Brian McCarthy, Commercial and Operations Director for Wireless Ireland, said:

“FM104 is an iconic Dublin brand and this latest brand iteration creates a contemporary new look to resonate with today’s young Dublin adults. We believe our new look delivers for our young digital first audience and puts FM104 in a strong position for a successful future.”

 

“Our all-new schedule delivers something different at drive time with Graham and Nathan promising to “Pick you Up” as you make your journey home. With a new music mix and a refreshed line up, the station is not only looking but sounding better than ever.”

 

“Our campaign promotes what we believe is a unique and exciting new show at drivetime that is peerless in the market. With such a negative news cycle currently, we look forward to hearing Graham and Nathan pick up Dublin and brighten up those dark winter evenings over the coming months.”

 

 

In addition to 104 Drive, the iconic Strawberry Alarm Clock continues each morning on FM104 with an entertaining mix of music, comedy and guests from 6am to 10am.

This is followed by the 10-3 Show with the FM104 Hit Mix picking up after FM104 Drive at 7pm each evening. A new night-time show called ‘Switched On’ completes the schedule running from 10pm to midnight.

Keep up to date on all FM104 news here….

 

 

For further information, please contact:

 

87% of SME’s are confident about business prospects over the next 12 months – new research from Bibby Financial Services Ireland

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  • 54% of Irish SME’s expect their turnover to increase over the next year, with three in four expecting an increase of up to 10%

 

  • 89% of businesses plan to invest over the coming year, with €230,000 the average investment figure stated

 

  • Energy prices (53%) and economic issues due to geo-political events (45%) stated as top two challenges for SME’s over next 12 months

 

  • 30% of SME’s use a credit card to finance their business, while SME’s with a turnover between €5 million and €10 million find it most difficult to access finance

 

87% of Irish SME’s say they are confident about business prospects and opportunities over the next 12 months, signalling a very strong sentiment among this cohort of businesses currently. The research, conducted by Bibby Financial services Ireland, a leading provider of financial support and funding solutions to Irish SMEs, also reveals that 54% of all SME’s expect their turnover to increase over the next year. 38% say their turnover will stay the same while only 9% expect a decline in sales. Of those predicting an increase in turnover, almost three in four expect an increase of up to 10%.

 

89% of businesses say they are planning to invest in their business over the coming 12 months, with just 11% saying they have no plans to invest. When asked how much they plan to invest over the next year, the average figure quoted, excluding those with no plans to invest, was approximately €230,000.

 

Some of the key areas for investment are:

 

  • Staff recruitment (36%)
  • Staff training and development (32%)
  • Marketing / sales (29%)
  • More renewable energy options (24%)

Those with a turnover of between €10m and €25m have a slightly different focus for investment, with staff retention (37%) topping the list, followed by staff training and development (32%), digital technology and IT (32%) and more renewable energy options (32%).

 

Although the majority of SMEs are quite positive facing into the next annual period, challenges and concerns were noted. Currently, 55% of all SME’s say that increased energy bills are an issue for their business right now, while 49% mention the rising cost of raw materials due to inflation.

 

Looking ahead to the next 12 months, energy prices (53%) and economic issues due to geo-political events (45%) are stated as the top two items. The wholesale sector is particularly concerned about energy prices, with 70% of this cohort stating it as their biggest challenge for the next year. 33% predict that staff shortages will be an issue, while 19% say rising interest rates are a concern.

 

On a positive note, attracting new customers (69%) and taking on new staff (37%) are seen as the biggest opportunities in the next 12 months. 23% say trading internationally is an opportunity, while 12% cite Mergers and Acquisition activity as a prospect.

 

When it comes to financing their business, 82% of Irish SMEs surveyed by Bibby Financial Services say they use a form of external business finance. Among the most popular forms of financing are:

 

  • Business loans (38%)
  • Credit cards (30%)
  • Private equity (27%)
  • Overdrafts (26%)
  • Invoice Finance (16%)

 

44% said that the level of finance available and a ‘relationship-based approach’ were the key attributes they considered when choosing a finance provider.

 

Chasing unpaid invoices is the top financing issue for almost one third of SME’s (32%) followed by managing the risk of a customer non-payment / bad debt (27%) and effective management of day-to-day cashflow (27%). SMEs with a turnover between €5 million and €10 million note that they find it most difficult to access finance (27%), while those with a turnover between €10 million and €25 million find it difficult to manage day-to-day cash flow (53%).

 

Of those who have had to open a new business account due to the imminent departure of KBC and Ulster Bank, 55% said they found it hard to find a ‘human’ to talk to discuss their issues, while 36% said that incurring significant fees and cashflow problems caused by having to reapply for overdrafts were an issue.

 

Mark O’Rourke, Managing Director of Bibby Financial Services Ireland, says:

 

“Irish businesses are once again bracing themselves for further economic volatility thanks to a range of domestic and international hurdles that are largely outside of their control. However, rather than showing a business population anxious about the challenges they are facing, the result of our survey demonstrates a stoic resilience amongst the SME community.

 

The package of measures announced by the Government to support businesses and households is extremely welcome, and will help address some of the pain points in the short term, but the question now is whether it will it go far enough to ensure the long-term survival of many businesses. Only time will tell the true extent of the impact on the business landscape.

 

It’s important to acknowledge the resilience of Irish SMEs and their ability to adapt and change – coupled with the wide-ranging support available from the private and public sectors – and hopefully this will fuel SMEs who continue to play a pivotal role in Ireland’s economic solidarity over the coming months.”

 

Shortlist announced for CEAI’s Champion Changemakers National ‘Pitch-Fest’ Final 2022

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A new eco concrete solution, a digital support platform for new parents from minority groups, social integration through music, online marketplace connecting lift-seekers with vehicle owners and improved local resources for women in direct provision among shortlisted ideas

 

  • A shortlist of individuals and groups who participated in the Community Enterprise Association Ireland’s recent ‘Dragons Den’ style Champion Changemakers regional events in September has today been announced

 

  • Those shortlisted will go on to a national final on October 20th in Innovate Communities Dublin where they will pitch their social enterprise idea to a panel of expert judges from organisations including Enterprise Ireland, Arthur Cox, Rethink Ireland and Social Impact Ireland, to compete for a bursary prize worth €10,000
  • Funding for the ‘Champion Changemakers’ initiative secured from the Department of Rural and Community Development under the ARISE (Awareness Raising Initiatives for Social Enterprise) Scheme 2021

 

The shortlist for the Champion Changemakers National Pitch-Fest 2022 is announced today after creative thinkers around the country participated in regional events in five hubs nationwide from the 23rd – 25th of September.

Groups and individuals worked alongside local mentors to develop their ideas for a social enterprise tackling environmental or social challenges currently facing their local communities. Participants then pitched these ideas to a panel of experts, who selected a shortlist to go through to the national final.

Finalists from each location will participate in the National Pitch-Fest in Innovate Communities Ballymun, Dublin on October 20th between 10:00am – 3:00pm where they will pitch their idea to a panel of judges from four organisations – Enterprise Ireland, Arthur Cox, Rethink Ireland and Social Impact Ireland.

The overall successful group or individual will benefit from a prize bursary to the value of €10,000 to set them on their journey towards the establishment of a sustainable and successful social enterprise. The bursary consists of key supports and services including:

 

  • Five dedicated mentoring sessions facilitated by the Local Enterprise Network
  • Idea verification processes, strategy scoping and impact framework development from Social Impact Ireland
  • Access to ReThink Ireland’s ‘Start your own Social Enterprise Programme’ which will provide essential tools and guidance required to take their idea to the next level, culminating in the opportunity to pitch for investment or additional non-financial supports to the investment value of €10,000
  • Legal advice from Arthur Cox on setting up a company limited by guarantee (CLG)
  • For the registered company, pro-bono support about the preparation of audit exempt financial statements for the purposes of CRO Filings and compliance with the Companies Act 2014 from Woods & Partners
  • Provision of dedicated hot-desking space for a 6-month period in the location of choice from participating member locations from the CEAI
  • Hardware and Software kit from Acer in conjunction with Softcat plc

 

SHORTLIST DETAILS

Each idea is categorised under one of three themes:

Environment and Climate Action

  1. “Pooled” – An online marketplace connecting individuals seeking lifts and those with cars that are making the same journey that would like some company or someone to share the petrol price with. (Tangent, Trinity’s Ideas Workspace)

 

  1. “Dr. Concrete” – An alternative eco-concrete solution (Tangent, Trinity’s Ideas Workspace)

 

  1. “Shamrock Squad” – Shamrock Squad works with support agencies, service providers and special needs families to assist them re-integrate back into outdoor activities after lockdown (RDI Hub and Dingle Hub)

 

  1. “A Journey from Urban Housing Development to Sustainable Communities” by Brian Fox – A community programme to make housing estates in local communities more energy efficient (Creative Spark)

 

  1. “Gardeners Dynamic” – Courses in organic gardening and sustainable living skills for the community (Meath Enterprise)

 

Economic Inequality

  1. “Letitgo” – A community platform for new parents from minority groups focusing on sustainability and mental health (RDI Hub and Dingle Hub)

 

  1. “United Women” – A group of Refugee and Migrant women living in direct provision in Galway who have come together to support each other and their community. The group aims to tackle barriers of unfair policies and systems that harm women, from racial and gender injustice to economic inequality. The overall goal is to have a positive impact in areas of integration. United Women also have created of ‘Cultural Café’ to give people a taste of international food but also to give a message of a more equal and inclusive Galway (Action Tuam)

 

  1. “Galway African Diaspora” – Provides a resource for artistic events to the African Community in Galway and beyond creating employment opportunities. Music will be used as a tool for social integration, supporting young artists who have recently arrived in the county and their mental health (Action Tuam)

 

  1. “Blank Canvas” – Aims to create communities of balance and wellness through activities known to aid mental balance such as sport, music, art, DIY and many more (Meath Enterprise)

 

Human Wellbeing

  1. “Huri Huri” – A social community that leverages eco-anxiety to spur group social action (Tangent, Trinity’s Ideas Workspace)

 

  1. “Sunny Number” – A data skills e-learning platform that makes statistical analyses for academic research easy and stress-free, based in Co. Cork (RDI Hub and Dingle Hub)

 

  1. “Carers Network Ireland” – Supports, resources and wellness solutions to empower carer professionals and improve the quality of care (Action Tuam)

 

  1. “Core Ireland Mental Fitness Workplace Wellbeing Programs” – Bespoke workplace wellness programs co-produced with business owners, management and employees, designed to inform, educate and provide everyone with valuable programs for a healthier workplace which will in turn reduce absenteeism, staff turnover and increase productivity (Meath Enterprise)

 

Siobhán Finn, National Hub Network Manager at CEAI said:

“The energy and creativity from individuals at the recent Champion Changemakers regional events around Ireland was incredible. These weekends highlight the importance of collaboration and teamwork when trying to solve the social or environmental challenges we’re currently facing in local communities around Ireland. Social enterprises are essential for delivering products and services that can improve and positively impact peoples’ lives.

All the shortlisted groups and individuals have put social enterprise at the heart of their idea and we’re really looking forward to seeing them present their solutions to environmental, societal, or public realm challenges at the National Pitch-Fest on October 20th. Thank you to all our partners for supporting the Champion Changemakers Events and offering their services as part of the bursary prize – these supports will be of significant benefit to the overall winner in helping them on their journey to turn their idea into reality.”

Fiona Descoteaux from Innovate Communities Ballymun said:

“We are delighted to be hosting the national pitch-fest for Champion Changemakers on October 20th 2022. The shortlisted ideas all have such potential to make a real difference to communities around Ireland. We’re looking forward to hearing the final pitches and want to wish all the finalists the best of luck!”

The CEAI would like to thank all their partners for supporting Champion Changemakers and to the organisations contributing their time and services for the Bursary including the Local Enterprise Network, Social Impact Ireland, Rethink Ireland, Arthur Cox, Woods & Partners, Acer and SoftCat plc for their support of Champion Changemakers.

Notes to Editor:

This project was approved by Government with support from the Dormant Accounts Fund. The funding allocated is part of the Dormant Accounts Action Plan 2021 and is administered by the Department of Rural and Community Development in conjunction with Pobal.

 

About the Community Enterprise Association Ireland

Established over 20 years ago, the Community Enterprise Association Ireland, previously known as the National Association for Community Enterprise Centres (NACEC), is the country’s leading network of enterprise hubs, co-working locations, and flexible working spaces. Government-funded and supported by Enterprise Ireland, the organisation works to drive real innovation and entrepreneurship across local communities and regions.

The Community Enterprise Association Ireland achieves this by continually working to raise the overall quality, environmental and innovative performance of the sector, ensuring the national hub network continues to support the realisation of a sustainable and balanced regional development model for Ireland. As an established and respected voice of the sector, the organisation also confidently represents local enterprise centres/hubs at government level so that all new strategies, policies, and funding programmes take the needs and ambition of each community into account.

Ireland’s Consumer Sentiment Index to continue under Credit Union and Core Research partnership

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The Irish League of Credit Unions has partnered with Core Research,
part of Ireland’s largest marketing company, to undertake the production and publication of the Irish Consumer Sentiment Index from October 2022

Based on a data set stretching back to 1996, the Consumer Sentiment Index will continue to provide a wealth of insight into the Irish economy and Economist, Austin Hughes, will continue to provide analysis and commentary

The methodology underlying the production of the index is unchanged, providing an unparalleled insight into the factors driving the thinking of Irish consumers for more than a quarter of a century

From October 2022, the Irish consumer sentiment index will be produced through a partnership between the Irish League of Credit Unions, and Core Research, part of Ireland’s largest marketing company, Core. Economist, Austin Hughes, who has led the analysis of the sentiment survey across its 26 years of data will continue to oversee the development of the index and will provide monthly analysis and commentary on trends in Irish consumer confidence and their broader economic significance.

This partnership will also see, for the first time, the publication of a quarterly Consumer Sentiment Index for Northern Ireland.

Ireland’s Consumer Sentiment Index was first published in 1996, produced jointly by the Economic and Social Research Institute (ESRI) and the IIB/KBC Bank. Since 2019, the KBC Consumer Sentiment Index has partnered with Core Research to prepare the survey using a consistent methodology based on international best practice.

Economist, Austin Hughes, who has led the analysis of the Index across the 26 years, will continue to oversee the analysis and publication of the monthly tracker.

Referring to the announcement of a new partnership underpinning the production of the Index, Economist Austin Hughes said:

“As is the case with similar surveys internationally, the Irish Consumer Sentiment Index has provided important and early information on emerging trends in the Irish economy. As we now face very turbulent and uncertain circumstances, it is vital that we continue to closely monitor the economic and financial forces shaping the behaviour of Irish consumers.  I’m very pleased to see the Index continue to be produced and to have the opportunity for nearly three decades to examine what it tells us about ongoing changes in Irish consumer thinking.”

Speaking about the partnership David Malone, CEO at The Irish League of Credit Unions (ILCU) said:

“The Irish credit union movement is at the heart of Irish society and the economy. Understanding consumer sentiment is a key part of our role as an organisation. We are pleased to play our part in maintaining this important metric within the economy.”

In addition, Naomi Staff, Managing Director at Core Research said:

“Given the insight provided by an unbroken data set stretching nearly three decades, the Consumer Sentiment Index remains to be an essential barometer for both business and wider society to plan for the future. We are privileged to continue to produce this index and believe it is an important public good to better understand the mood of the Irish consumer and the impact on their consumer and financial behaviour.”

Brenda and John Romero to be presented with ‘Lifetime Achievement Award’ at GamerFest for their outstanding contribution to the gaming industry

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  • 5,000+ gamers will gather at GamerFest in the RDS on October 22nd and 23rd to celebrate an epic weekend of gaming

 

  • Special guests lined up include content creators DeeBeeGeek, Antitinkerbell, Jamie Jay Car, The Gara Show,  Miss Audrey and many more

 

Gaming legends Brenda and John Romero have been announced as the recipients of the inaugural GamerFest Lifetime Achievement Award for their outstanding contribution to the gaming industry both in Ireland and internationally.

 

Brenda and John, founders of Romero Games, were chosen as recipients for this award as a result of their unparalleled success in the game development world and their tireless work supporting gaming related projects and initiatives in Ireland.

 

Brenda Romero is a BAFTA award-winning game director, entrepreneur, artist and is currently game director and creator of the ‘Empire of Sin’ franchise. She has worked on 50 games and contributed to many titles, including the well-loved ‘Wizardry’ video game and the ‘Jagged Alliance’ series. John Romero is an award-winning game designer, level designer and programmer who has worked on over 130 games including legendary games ‘Wolfenstein 3D’ and ‘DOOM.’

 

After visiting Ireland in 2014, the husband-and-wife duo decided to move to Galway permanently and founded Romero Games, a move that has transformed the gaming industry in Ireland by offering career opportunities in the sector and contributing to the overall growth of gaming in Ireland. The Romero Games team released ‘Sigil’ the unofficial fifth episode of the 1993 video game ‘DOOM’  in 2019 and ‘Empire of Sin’ in 2020 which was directed by Brenda herself.

 

GamerFest takes place in Dublin’s RDS on October 22nd and 23rd and promises to be a jam-packed weekend of all things gaming including the latest games, esports, VR, special guests and live stage content. 5,000+ gamers will gather to celebrate the weekend for the first time since Covid in the RDS.

 

As well as Brenda and John Romero, content creators DeeBeeGeek, Antitinkerbell, Jamie Jay Car, The Gara Show and Miss Audrey will be special guests at GamerFest, Ireland’s biggest gaming and esports festival.

 

GamerFest CEO Stuart Dempsey said:

“John and Brenda are absolute giants of the gaming world and we are incredibly excited to welcome them to GamerFest this year. We couldn’t think of anyone more deserving of our inaugural GamerFest Lifetime Achievement Award. Since arriving in Ireland and establishing Romero Games, they have been wonderful supporters of the gaming community here, regularly making time in their busy schedules to support a huge array of gaming projects and initiatives. It’s fitting that they be honoured this way and we can’t wait to see them on the GamerFest Live Stage.”

 

Brenda and John Romero said:

“We are both so honoured to receive these awards, especially here in our adopted home of Ireland. The game development scene here is only going from strength to strength and we are delighted to be a part of it. More and more new developers join the industry each year, taught by the excellent institutions all around the country. We love seeing the excitement building as gaming gets bigger.”

 

GamerFest takes place at The RDS, Dublin this October 22nd and 23rd

with tickets on sale now at GamerFest.ie.

 

Find us on Instagram (gamerfest_ie) or follow us on Twitter or Facebook on @GamerFestIE

An Post Bookshop of the Year’ longlist revealed for 2022

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  • Twelve bookshops around Ireland selected for the ‘An Post Bookshop of the Year’ longlist

 

  • Shortlist of six bookshops will be revealed on October 20th and the overall winner announced at the An Post Irish Book Awards on November 23rd

 

12 bookshops across the country have been longlisted for the ‘An Post Bookshop of the Year’ category at this year’s An Post Irish Book Awards, the annual literary event that celebrates and promotes Irish writing and authors to the widest range of readers possible.

The ‘An Post Bookshop of the Year’ category was introduced last year to acknowledge the significant role played by independent bookshops and local branches of bookshop chains in helping their local communities to find and savour the titles of their choice. Kenny’s Bookshop in Galway was crowned the overall winner in 2021.

The longlist of twelve bookshops around Ireland for 2022 are:

  • Kerr’s Bookshop, Clonakilty, Cork
  • Philip’s Bookshop, Mallow, Cork
  • Charlie Byrne’s Bookshop, Middle Street, Galway
  • Waterstones, Drogheda, Louth
  • Tertulia, Westport, Mayo
  • Liber, Sligo
  • Bridge Street Books, Wicklow
  • Chapters Bookstore, Parnell Street, Dublin
  • Books at One LetterFrack, Letterfrack, Connemara, Galway
  • Bridge Books, Dromore, County Down
  • Books on the Green, Sandymount, Dublin
  • Genius Juniors, Online Bookshop

Customers were asked to vote for their favourite bookshops and to explain the reason for their choice. The bookshops that received the most votes were then longlisted and invited by the judges to enter a written submission.

Mystery shoppers will now visit the twelve bookshops as part of the judging process to establish the shortlist of six bookshops. The shortlist will be officially announced on the 20th October. The overall winner of the ‘An Post Bookshop of the Year’ category will then be announced at the An Post Irish Book Awards event on November 23rd. The winner will receive a trophy along with a prize worth €5,000 from An Post Commerce.

The annual An Post Irish Book Awards bring together a huge community passionate about books including readers, authors, booksellers, publishers and librarians. Celebrating and recognising the very best of new and established Irish writing talent on offer. Other categories in the An Post Irish Book Awards include Novel of the Year, Children’s (Junior and Senior), Cookery, Crime Fiction, Popular Fiction, Non-fiction, Sports, Short Story, Poetry, Teen and Young Adult and Irish Language.

Brendan Corbett, Chairperson of the An Post Irish Book Awards, says:

“Bookshops sit at the heart of their communities’ cultural and social lives, and we introduced this category last year to acknowledge the important contribution they make to not only their communities and readers, but the significant role they play in the Irish book business. The holy trinity of bookshops, writers and readers is a wonderful alliance we should all support, and that’s why I’m delighted to see 12 such deserving bookshops on the longlist.”

Aoife Roantree, Chair of Bookselling Ireland, says:

“What a great longlist! It’s really wonderful to see booksellers who work every day to connect readers with books they’ll love getting recognition for what they are so passionate about. They all work so hard to foster a love of reading among everyone – including children and those new to the world of literature – as well as supporting great new writing and illustrating talent. They play a significant role in our society and it’s great to be able to give them the credit they truly deserve.”

Commenting on the importance role bookshops play in local communities, David McRedmond, CEO of An Post, says:

“Our local bookshops are an essential and vibrant part of local communities. Great booksellers and good books help us all through the best and worst of times in our lives. This award recognises their business acumen, creativity and human touch in reaching and connecting with their customers.”

 

The shortlist for all categories in the An Post Irish Book Awards 2022 will be announced on Thursday 20 October, while the winners will be announced on Wednesday 23 November. A television programme will be broadcast on RTÉ One television in December and will culminate in one of the 2022 winning titles being announced as the ‘An Post Irish Book of the Year 2022’.

An Post is also continuing with their hugely successful #ReadersWanted campaign, celebrating the value and joy of reading and encouraging everyone to pick up more books, more often. Simply search for the hashtag online to get involved.

 

For further information, please visit to the An Post Irish Book Awards website or social media channels:

www.anpostirishbookawards.ie

Facebook: @AnPostIBAS

Instagram: @anpost_irishbookawards

Twitter: @AnPostIBAS

 

New Thornhill Oaks luxury development in the heart of Mount Merrion in Dublin unveiled by Lisney Sotheby’s International Realty on behalf of Oakview Property Developments

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  • Award winning architects Lawrence & Long designed the stunning development

 

  • All apartments feature extremely high levels of energy efficiency with a BER Rating of A2

 

Lisney Sotheby’s International Realty and Oakview Property Developments have launched sales at Thornhill Oaks, a prestigious new development of luxury one-two and three bedroom apartments in the heart of Mount Merrion. This stunning scheme offers owner occupiers a unique opportunity to become a resident in one of Dublin’s most exclusive new addresses.

 

Thornhill Oaks is based at the former home of the hotelier PV Doyle, and is a large 3.5 acre site with extensive landscaping and mature trees. All apartments come with an attractive, generously sized balcony or terrace.

 

The elegant apartments feature extremely high levels of energy efficiency with a BER Rating of A2. Hot water is available 24/7 on demand via an Air to Water heat pump system. Apartments are also pre wired for Virgin-Media and Eir broadband services.

 

Stewart Doyle and Ray Cotter are the principals behind Oakview Property Developments, and they appointed award-winning architects Lawrence & Long to design the Thornhill Oaks development. The apartments are being built and finished to the highest of standards, and benefit from the unique characteristics of this beautiful location. The development is enclosed in a walled setting, with an abundance of mature trees visible from every house and apartment, the most striking being the protected 250-year-old evergreen oak that stands at the very centre of the site.

 

Peter Stapleton, Property Consultant for Oakview Property Developments, said

“The luxury apartments at Thornhill Oaks feature exceptionally spacious interiors, with two bedroom apartments ranging from 900 to 1,000 Sq.Ft, while three bedrooms are in excess of 1,350 Sq.Ft. Each apartment will feature top of the range fixtures and fittings including kitchens by Kube and appliances by Smeg, in addition to generous private balconies and terraces that will offer views of Dublin Bay, the Dublin Mountains, and the stunning landscaped grounds within the Thornhill Oaks development.”

 

Prices start from €585,000 for one bed apartments, €770,000 for two bedroom apartments, €950,000 for two bed penthouses, and from €995,000 for three bedroom units. The selling agents have conducted a soft launch to those who have registered interest in the scheme, and the development has attracted extremely strong interest, with over half of the 39 apartments already Sale Agreed.

 

Selling agent Frank McSharry from Lisney Sotheby’s International Realty notes that the apartments have received particularly strong demand from suburban downsizers based around Mount Merrion and adjoining suburbs. The remainder of the apartments are now being launched to the public, with viewings available by appointment.

 

The development will also feature a number of three and four bedroom family houses which will be launched in Spring 2023.

 

To learn more visit: www.thornhilloaks.com or www.lisney.com