After Brexit comes the planning

ThinkBusiness spoke with Simon McKeever, CEO of the Irish Exporters’ Association about the first steps to exporting and his thoughts on Brexit.
 
The first steps to exporting can be daunting for Irish SMEs. It is not simply a case of jumping on a plane and flying to another country to knock on a few doors. You need to be prepared. 

“If I were to give one piece of advice to an SME thinking about exporting, it would be to do their research,” says Simon McKeever, CEO of the Irish Exporters’ Association (IEA). 
“Ask yourself, is there a market for your product in the country you want to enter?” he asks.
“Also, is your company ready to scale? Do you have what it takes to grow, the financial resources, the legal resources and the people?”
You should also examine the target market in very close detail.
“Remember, if you are entering a much bigger market, it will be a lot more competitive,” says McKeever. 
“The UK is a good case in point. While it may have a similar regulatory environment, the British are very price conscious, they are value driven, especially when it comes to food and drink. 
“In the UK they are also straight talkers. If someone gives you a chance, it’s important that you deliver on their expectations.”
This is where organisations like the IEA and Enterprise Ireland can assist Irish SMEs. 
“We can help close the deal. We have market access people in the UK specialising in this area. It’s about practical support, expert knowledge and opening doors.”
For markets further afield, the IEA can also help with visa and export documents.
“Obviously, it’s easier to do business in the UK and Europe, not just from a legal perspective but a geographical standpoint. It’s quicker and cheaper to hop on a plane and fly to England, Portugal or Italy.

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Irish SMEs ‘the most innovative in Europe’

Irish SMEs, it appears, are the most innovative in Europe.
The European Commission has announced the results of its European Innovation Scoreboard for 2016, and Irish SMEs, it appears, are the most innovative in Europe.
Ireland was placed in the “Strong” category for innovation overall (the others being Leader, Moderate and Modest), but it was the Irish SME sector that stood out, coming first out of the EU’s 28 member states. 
“Ireland is the leader for innovation in small and medium-sized companies (SMEs) – followed by Germany, Luxembourg, France, and Austria. These countries are characterised by high shares of SMEs involved in innovation activities: they introduce more innovative products and generate more new jobs in fast-growing young companies,” says the EC. 
The annual scoreboard is designed to compare the performance of EU countries in the areas of innovation and research, and the 2016 scoreboard included a future-focused section on trends and expected changes for the first time. 
Innovation is part of SME life
Mark Fielding, CEO of the Irish Small and Medium Enterprises Association, says innovation is a crucial part of the success of an SME, though this may not always take the form of R&D as it does with larger firms. 
“We all know that the SME owner/manager is forever innovating, tinkering around in an incremental way in all areas of their business,” says Fielding. “Unlike large companies, where innovation is usually found in the R&D activity, with an SME innovation usually takes place in activities connected to the production line, such as the adaptation of outside technologies or the implementation of small technical improvements”. 
Indeed, while small and medium-sized businesses may not have the R&D budgets of larger firms, that does not mean that they are not creative in their approach to business. “The SME owner is always looking for ways to improve their bottom line

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Six reasons to move your business to Ireland

Ireland is the fastest growing economy in Europe, and so there has never been a better time than now to invest here. Here are six of the top reasons why foreign firms should move their business to Ireland. 
1.    Tax
At 12.5%, Ireland’s corporate tax rate is one of the lowest in the world and has been attracting foreign firms to our shores for decades. What you may not know if that Ireland also offers companies a 25% tax credit for qualifying research and development expenditure, and can be set against a company’s corporation tax liability.  
2.    Workforce
Ireland’s educated, young, English-speaking workforce has long made it an attractive location for foreign companies. Ireland’s workforce is one of the most youthful and most highly-educated in Europe, so there’s is plenty of talent to choose from. 
3.    Funding 
Enterprise Ireland has a €10m fund in place specifically to attract international start-ups to Ireland. Projects that meet the criteria and are fully investor ready can apply for support from the €10m fund, while new projects that are not entirely investor ready can apply to join an accelerator programme. 
4.    Mentoring and support
As well as funding, Enterprise Ireland offers a broad range of other supports to companies setting up here. These range from mentoring, incubation programmes, introductions to advisors and more. Ireland’s Local Enterprise Office (LEO) network also provides supports for SMEs looking to start a business in Ireland, including financial aid, training, and networking events held throughout the year. 

5.    Pro-business culture 
Ireland regularly places highly in Forbes’ annual ranking of the best countries in the world to do business in, finishing in first place in 2011. Last year we placed fourth, behind Denmark, New Zealand and Norway. Ireland is Europe’s fastest-growing economy, and Dublin, in particular, has become a hub for financial services, biotech,

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Bottling customer loyalty – Craft Nation

Grainne Byrne explains why, with the revolution of craft beer brewing, customer loyalty is at a premium. A new app aims to help beer brewers to win customer loyalty in an interesting way.
If you’re like most new businesses, the one thing that’s on your mind is how you can gain as many new customers as quickly as possible. However, that focus on customer discovery is not the bottom line.
It’s a given that new customer acquisition is vital for new businesses, but obsession with constantly increasing sales can work against some sectors. 
Traditionally, there has been a preoccupation with acquiring new customers, often at the expense of nurturing loyal customers. 
Businesses must be aware of the rapid evolution of technology, how it’s changing the status quo and changing consumer behaviour. 
Knowing this can bring strategic advantages and growth opportunities.
Looking at the drinks industry, for example, the culture of beer drinking has been altered at the hand of the craft beer revolution. 
According to the head brewer of Wexford’s Yellow Belly craft brewery, Declan Nixon, drinking is now being treated as “more of a tasting experience than a getting tipsy experience”. 
Requests for anything more exotic than Guinness in pubs are no longer baulked at and today, bars and off­-licences stock an abundance of interesting choices.

Why do people buy craft rather than ‘domestic’?
For a twenty-­something, what is the primary motivator to buy a premium priced microbrew over a macrobrew? 
Perhaps it’s identity, buying a one­-of-­a-­kind craft beer to express their one-­of-­a-­kind personality?
Maybe it’s just down to people focusing on taste?
One thing’s for sure, the perceived authenticity of microbrews means brand attraction is more innate, at least for a while. 
As Irish business author, Bernadette Jiwa says, “Affinity that’s earned, not attention that is bought and paid for, is what’s powering business growth now.”
The craft beer industry is beginning to level out
Although the

This post was originally published here - https://www.thinkbusiness.ie/articles/irish-craft-beers-craft-nation/ on
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The challenges facing women in business

Samantha Kelly recently carried out a survey on the Women’s Inspire Network Facebook group (4,000+ members), asking them what their biggest challenges are, as female entrepreneurs.

 

“For me, as a woman, I find it difficult to be taken seriously,” says Samantha Kelly. “Sometimes I wonder should I become more strict or tough but I don’t want to change how I am. I wondered were others feeling the same?”

Below are the thoughts of ten female entrepreneurs gathered from the survey.

  1. ‘My biggest challenge is time management and being disciplined with your day, ensuring that you’re as productive as you can. If you’re a working Mum, it’s hard not to feel guilty. My advice is to schedule in ‘me’ time.’ Lilach Bullock.
  2. ‘The emotional roller coaster is my biggest challenge. The guilt for leaving my children, the jealousy that my partner doesn’t juggle the same workload because Dads don’t get the phone calls from the child minder and women are still (for the most part), the homemaker. However, there’s also the joy and pride that you’re doing something for yourself.’ Karen Mc EcEvoy, Beauty Bright.
  3. ‘Expensive childcare costs and no tax breaks on the fees. Free years only apply to pre-school children, and they grow out of that stage so fast. Then there is the full-time healthcare tutor and all in between.’ Alison Metcalfe.
  4. ‘Being taken seriously. When someone looks you straight in the eye and asks to speak to the boss.’ Pat Murphy, SmartHeat.ie.
  5. ‘Being made feel guilty and crazy for having big ambitions and dreams. “Oh, really that’s what you’re going to try & do, and with three children? Hmm, good luck”.’ (Anon)
  6. ‘Sometimes it’s a curse that we are such good multitaskers as we can push ourselves beyond the limits, but working to the point of collapse.’ Betty Kehoe, Aisling Design.
  7. ‘Confidence that you are doing the right thing and that you have all the boxes ticked and won’t look like foolish if something goes wrong which leads to the second issue which is the fear of failure which I think us women reflect on much more than our male counterparts? Also, I feel that when you are the MD or owner of your business everyone in your business thinks you have all the answers and you know how to solve all the problems and well, I don’t. This is why I need a really strong network of other business owners around me that I can call on while I say “Let me think about that, and I will be back to you tomorrow”. This then leads to the next challenge which is building a network you can trust.’ Oonagh O’Hagan, CEO, Meagher’s Pharmacy.
  8. ‘Me Time. Like others – managing work, long hours, family life (the guilt) and the house. Fulfilling work ambitions and finding time for just me. Always saying I have a very demanding boss. Me.’ Pauline Geraghty, PassRight Driving School.
  9. ‘Finding time for me, forgetting the importance of prioritising my needs, because as many others have said, still we manage and juggle so much. We have to learn to take care of us first.’ Roisin Prizeman, BusinessBuddy.ie.
  10. ‘People think that what I do is a hobby.’ Carol Faughnan (web designer).
working mums 2

Clients that don’t care

Other comments were: ‘My biggest challenge as a designer is that sometimes when you send a client a proof of either first design draft or a concept idea for a new business product, that at times they forget that business evolves around time and money and just because their lives have got busy; they simply don’t bother to get back to me for over a month or two which is really unfair as you had put in all of your own time, to begin with. This results in the design project are simply evaporating into thin air. A waste of time for both parties.’ Lisa Marie Flanagan, Bebrandbrave.com.

‘Being in the handmade sector, I find my biggest struggle is to be taken seriously as a business woman. People often make the assumption I’m a SAHM or housewife looking to make pocket money. I don’t feel my male counterparts suffer these struggles.’ Alia Moloney, Terramor.

If you would like to hear more

So as you can see, many women in business suffer from guilt, lack of confidence, lack of time for themselves and being taken seriously. Do men have the same challenges?

If you would like to hear speakers talking about how they overcame these obstacles or learn time management skills and confidence building amongst others, the Women’s Inspire Network has a national event coming up on October 5, which will cover many of these challenges. There will be workshops and networking. With Lilach Bullock coming from the UK and Anna Scheller, sales queen, coming from the US, it promises to be a very useful event.

READ MORE: Never before has there been so many state-backed programmes designed to help women to start in business.

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18 great business tools that save money

Cost effective and often free, here’s a list of great digital tools to help run your business.
Most small businesses don’t have the money to run their own IT department or a digital marketing division. If you are starting, running or growing a small business, you can still run the important ‘back end’ stuff for next to nothing. It just takes a little know how.
1: First step, buy a smartphone. It may seem obvious but this will be an essential business tool.
2: If you need a website, install WordPress. If you don’t want to do it yourself, don’t spend too much on a site. You can get a very good company website for less than you think.
3: If you want to sell online use services like Trafficattic or Shopify.
4: You don’t need a bulky email server cluttering up your office. Use Gmail from Google. Also, make sure your office accesses the Internet via Wi-Fi (using a password), it’ll be less hassle in the long run. Also, less nasty wires.
5: Why buy brand new computers when there are many high quality used laptops for sale? They will work very well, just make sure they are Wi-Fi enabled.
6: If you don’t want to pay for lots of software try Jolicloud OS. It’s an operating system that connects low cost computers to the cloud.
7: You can save a small fortune by using free online invoicing and free online accounting software from a great Irish company like Bullet.

8: You don’t need to buy hard disks to store your company data, just go online and into the cloud with Dropbox. Here you can store everything at an affordable price.
9: If you don’t want to pay Microsoft for its software you can use Google Docs or, for spread sheets, OpenOffice.
10: If you need a great project management tool, why

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The Global Startup Gathering 2016

The Global Entrepreneurship Network (GEN), Startup Nations Summit, is coming to Cork later this year as part of the Global Startup Gathering 2016.
Cork is the first location in Europe to host the Startup Nations Summit (November 19). The idea is to bring together policymakers and leaders in the startup space.
Taking place over three days in November, the event aims to attract hundreds of international and national business people.
One of the competitions announced is the Global Investor Challenge. The competition is for entrepreneurs who need investment and are investor ready.
Judges will look for the business that has the highest investment potential. Regional finals held across Ireland in the week leading up to the summit with the grand final held in Cork on Saturday, November 19. 
The winning business will receive a €30k+ prize fund, including cash and services. 

ConnectIreland assumes control
 
ConnectIreland, a government initiative that’s responsible for attracting small businesses to Ireland and rewarding people for introducing new connections, is to assume control of Startup Ireland.
ConnectIreland says it has seen a “significant” rise in international companies looking to start in, or expand in Ireland.
“Given the skillset that currently exists in ConnectIreland, this union will integrate into what we do while also offering new areas for growth,” says Joanna Murphy, CEO of ConnectIreland.
“We thank Eoin Costello (co-founder of Startup Ireland) for his vision, leadership, and passion to date, and wish him well in his new role with Digital Dun Laoghaire.”
A full schedule of events planned for November is listed on the website www.startupgathering.ie.
READ MORE: If you are starting a business in Ireland, start here.

This post was originally published here - https://www.thinkbusiness.ie/articles/startup-gathering-2016/ on thinkbusiness

It’s never been a better time to start a business

There has (literally) never been a better time to start a business in Ireland. If you are starting in Ireland, start here. 
Your first port of call should be your Local Enterprise Office. 
Your LEO will be able to give you and bring you through a 10-step guide to starting a business.
You will be able to test your business idea, carry out market research, find out what your requirements are, what kind of money you need and how you can raise the funds. 
Your LEO will also help you with a sales and marketing strategy, your legal structure, your business plan and your risk strategy. 

The money
Every business requires finance, and there are many supports for new firms.
Loans of up to €25,000 are available from MicroFinance Ireland for new businesses or those that want to grow. 
The loans are available to businesses with no more than ten employees that do not meet the conventional risk criteria applied by banks.
Banks, however, also want to support viable businesses. Bank of Ireland has a new Business Start-Up Package that will help with the early stages of setting up a business and remove the cost and complication of trying to do it all yourself. You will also receive a current account with 24 months’ free transaction and maintenance fees. 
Small business owners and farmers can also apply online for a business loan of up to €100,000. It’s easy and fast. 

Get online for free
It’s not often you get something worthy for free but Getting Irish Business Online does exactly what it says on the tin. It will get your business online for free. It’s vital your business can be found online, especially in the early days. 
Unemployed and starting?
If you are out of work and keen to start a business, there are plenty of supports available.
If you’ve been signing on for over 12 months and

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