The Junior Entrepreneur Programme

The Junior Entrepreneur Programme encourages children to apply their abundant creativity to business ideas.
You don’t have to wait until adulthood to start a business.
A free initiative called the Junior Entrepreneur Programme is calling on Irish children between the ages of 10 and 12 to get involved and learn how to convert their business ideas into real commercial enterprises. The project is backed by some of the top entrepreneurs in the country, and has reached more than 26,500 primary school students in the five years since it began. 
While traditionally these sorts of programmes have been aimed at transition year students, the JEP seeks to get young people interested in business much earlier, when children are at their most creative and uninhibited. 
A boost in confidence
The JEP complements the school curriculum, particularly in areas such as maths and science, but also helps students develop skills in presentation, drawing, and collaboration. 
90% of teachers surveyed say they have seen an increase in confidence in children who take part in the programme, while 66% have reported improvements in their students’ communication skills and teamwork.   
Three teens who grew in business
 

Fraser Doherty
He began using his granny’s recipes to make jam when he was 14, and his produce proved so popular Doherty had to drop out of school to meet orders. Waitrose came calling in 2007, and the Edinburgh businessman’s company Superjam now supplies more than 2,000 supermarkets around the world including Tesco and WalMart. 
Jordan Casey (main picture)
Casey began learning code at the age of nine and by 13 he was the CEO of his own video games company. Now 16, the Waterford native has been invited to give TED talks, has launched various startups and is currently in the process of merging his different projects into one business. 
 

Patrick Collison 
After winning the 2005 Young Scientist competition in Dublin at

This post was originally published here - https://www.thinkbusiness.ie/articles/junior-entrepreneur-programme/ on thinkbusiness

Starting a business before you turn 18

The Junior Entrepreneur Programme aims to help develop Ireland’s next business heavyweights.   
You don’t have to wait until adulthood to start a business.
A free initiative called the Junior Entrepreneur Programme is calling on Irish kids between the ages of 10 and 12 to get involved and learn how to convert their business ideas into real commercial enterprises. The project is backed by some of the top entrepreneurs in the country, and has reached more than 26,500 primary school students in the five years since it began. 
While traditionally these sorts of programmes have been aimed at transition year students, the JEP seeks to get young people interested in business much earlier, when children are at their most creative and uninhibited. 
A boost in confidence
The JEP complements the school curriculum, particularly in areas such as maths and science, but also helps students develop skills in presentation, drawing, and collaboration. 
90% of teachers surveyed say they have seen an increase in confidence in children who take part in the programme, while 66% have reported improvements in their students’ communication skills and teamwork.   
Three teens who grew in business
 

Fraser Doherty
He began using his granny’s recipes to make jam when he was 14, and his produce proved so popular Doherty had to drop out of school to meet orders. Waitrose came calling in 2007, and the Edinburgh businessman’s company Superjam now supplies more than 2,000 supermarkets around the world including Tesco and WalMart. 
Jordan Casey (main picture)
Casey began learning code at the age of nine and by 13 he was the CEO of his own video games company. Now 16, the Waterford native has been invited to give TED talks, has launched various startups and is currently in the process of merging his different projects into one business. 
 

Patrick Collison 
After winning the 2005 Young Scientist competition in Dublin at 16, Collison

This post was originally published here - https://www.thinkbusiness.ie/articles/starting-a-business-before-you-turn-18/ on thinkbusiness

Four unusual yet effective ways to network

Networking is evolving beyond windowless conference rooms filled with awkward silences and lacklustre finger buffets.
Awkward. That’s the word that springs to mind when thinking about traditional networking events. The term itself, “networking event”, tends to conjure up images of awkward interactions. A room full of people wearing poorly-placed name tags (there’s always one person who has the shame of a handwritten badge), desperately trying to make a great first impression, while hoping no-one has noticed that this is their third trip to the wine table in less than an hour.
Whether you love it or loathe it, networking is a necessity, and the importance of having professional contacts in a connected sector cannot be underestimated. Leveraging the relationships you have, both professionally and personally, can improve business alliances, increase sales and create job opportunities, where they may not have existed previously.
Thankfully, networking is evolving beyond windowless conference rooms filled with awkward silences and lacklustre finger buffets – cheese and pineapple on a cocktail stick anyone? It’s not 1992, guys. Today, networking can be done in a variety of ways, and we’ve outlined four strategies you can use to expand your professional circle, without ever having to wear an adhesive sticker again.
The gym
Whether it’s your comrades in CrossFit, your fellow pedal pushers in a spin class or the people you share a nod and smile with on the gym floor, the place where you work out can sometimes provide a better environment to make connections than the place where you work.
So, yes, you may be more focused on obtaining your PB (personal best) rather than working on a BP (business plan), but that’s not to say you can’t mix a little business with leisure. 
Whether it’s grabbing a smoothie after a workout or chatting to your spotter about challenges you face outside of

This post was originally published here - https://www.thinkbusiness.ie/articles/ways-to-network/ on
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The mobile revolution in Irish farming

Ireland’s farmers are leading a mobile revolution. Gráinne Byrne takes a closer look at the apps that are changing the lives of Irish farmers for the better.

What are the best apps for Irish farmers, apps that save real time and money? 

First up is the giant in the Irish farming community, DoneDeal. Although the transparency of the traditional auctioneering process still appeals to many farmers, DoneDeal has confirmed that goods and services to the value of more than €28 million were sold through the farming section of its mobile app in 2015. Livestock alone amounted to €22 million of that figure. Economist David McWilliams describes this mass retail movement as a sort of ‘cyber-bazaar’, in which we have seen huge growth – an indicator of increased trust, by Irish farmers, in digital markets and mobile apps.

DoneDeal’s first farming report in 2013 revealed that out of the 9,000 farm ads published on the platform every month, 20% were placed from iPhones, and 33% were sent from Android smartphones, which is proof that the farming community is increasingly mobile and digital savvy.  

“I think we’re on the crest of an agri-tech wave, and from a sustainability perspective, if we don’t adopt new technologies, we’re going to struggle.”

Banking

Banking apps have simplified and sped up the payment process for farmers. Enniscorthy dairy farmer Aidan Murphy talked to ThinkBusiness about the practicality of banking with his mobile. “First of all, my banking app is simple and straightforward to set up and use. People are naturally cautious about giving card details over the phone, and now you can avoid that. Recently I went to pay a guy, and all I needed were his BIC and BAN numbers. I verified it by text, and he was paid in a matter of minutes.”

Murphy also highlights the transparency and convenience of the banking app he uses. “You can see exactly how much has been lodged or taken out of your account. It’s also handy because you don’t need to go to your house to write a cheque or go to the bank in town. It’s all in your hand.”

farming apps

Cattle farming 

Apps that help and add real value to cattle farmers have also experienced a massive uptake since their launch. Dairymaster’s MooMonitor is a small device that hangs around a cow’s neck and senses changes in the animal’s behaviour. The farmer is then notified if the cow is in heat or ready for milking by app notification or SMS. 

According to Teagasc research, the economic cost of a missed heat is approximately €250. The MooMonitor intends to minimise that potential loss by keeping a close on the cattle’s fertility cycle, which is highly significant for milk production. 

Moocall is a calving sensor device, this time; it is placed on a cow’s tail, which notifies the farmer one hour before calving. It gets rid of the hassle of always having to check CCTV or visit calving sheds, while also ensuring that both calf and cow are looked after in the event of a difficult birth.

Alanya’s HerdInsights is a heat detection and health analysis solution app connected to a collar on a cow.  The cow’s behaviour is analysed by a multi-metric system, and farmers can gain heat detection rates of up to 97%. In addition to heat detection, HerdInsights also provides an insight into an individual cow’s health status which allows for early detection of health problems such as ketosis and mastitis, and intervention at subclinical stages.

farming apps

Farm compliance

When the tractor seat is also your office chair, record-keeping can become a reduced priority and updating the books may become a nightmare task by the end of the year. However, with farm compliance apps such as Farmflo and Herdwatch, both crop and livestock farmers can conveniently record details on their smartphone in the field, so all boxes are ticked when inspection time comes around.

The Farmflo Agronomy Tool is a new product from Farmflo, providing Agronomists with a tool to make observations and recommendations on crops from the field. The ability to share their information in real-time with their farmer customers creates a digital link, which aims to increase efficiency by providing quality and accurate advice to enhance the performance of crops and profitability for farmers.

The Herdwatch Sales Ring is an extension of the original Herdwatch app and enables farmers to trade animals quickly and safely, with the automatic creation of movement certificates when livestock are moved from the seller to the buyer’s herd.

farming apps

Optimising soil fertility 

Irish farmers spent €565m on fertiliser in 2015, yet only 10% of the soils tested by Teagasc were of optimum fertility. Over the last two years, Teagasc has been developing NMP-online, a nutrient management package to provide farmers with the relevant information in the form of maps to increase fertiliser efficiency. 

By the end of 2017, it is hoped that more than 50,000 farms will be utilising the package to improve fertiliser usage. It seems appropriate that with all this soil fertility data being generated, that it should be integrated seamlessly into apps that can easily be used by farmers and agronomists, and in turn, help to drive the usage of apps on Irish farms.

EU animal health law

One very positive step towards increasing the digital documentation of herd health is the EU Animal Health Law, which was passed in March. Sinéad Quealy of VirtualVet remarks how it “supports a drive towards the near real-time capturing of information, through technology.” One of the law’s primary objectives is to increase early detection of and the control of animal diseases, including emerging diseases linked to climate change. It also aims to reduce the occurrence and effects of animal epidemics.

Quealy says that it will also serve as an impetus for a re-think by the state agencies responsible for food safety and “utterly change for the better how farm records are kept in this country”. 

Tommy Heffernan of Co-Farm has been working as a vet for 15 years, and says that he has witnessed a massive transformation in veterinary medicine: “We’re doing more herd based medicine nowadays, as well as continuously using more data to make better decisions.” 

Heffernan claims that this a result of changes in legislation and because farm sizes are increasing. 

“I think we’re on the crest of an agri-tech wave, and from a sustainability perspective, if we don’t adopt new technologies, we’re going to struggle.”

farming apps

App helps farmers prepare for rainy day 

A part-time farmer from County Clare has developed a unique weather app tailored for Irish farmers.

FarmHedge, a free smart-phone app, gives farmers on-farm alerts directly relevant to farming activities.

“The weather alerts are unique to the farm location, and they relate short-term forecasts to the ten-year normal for that area to provide information on grass growth, animal health risks and other farm activities,” says Dr John Garvey, senior lecturer in risk management and insurance at the University of Limerick, who created the app. 

“I wanted farmers to have highly local and accurate weather information that gives them a snapshot of what will happen over the coming days. We’re using the best forecasting model available (called the ECMWF model), and we relate that forecast to the ten-year typical weather for that location,” says Dr Garvey. 

“We will be introducing a system that helps farmers protect against the cost of inclement weather. If your farm experiences wetter or colder conditions than are average for any period then you may have to use a higher volume of concentrate feed to supplement low dry matter production,” says Garvey.

“We are exploring ways in which feed can be booked via the app with farmers benefiting from deep discounts on their feed bill if weather conditions are worse than average. The idea of transferring the costs associated with adverse weather is common in other weather-sensitive industries like energy and marine transport. I want to bring these benefits to Irish farmers to help stabilise farm incomes.” 

READ MORE: The economic pulse of Irish farming.

This post was originally published here - https://www.thinkbusiness.ie/articles/apps-for-farmers/ on
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In search of Ireland’s Best Young Entrepreneur

The search for Ireland’s Best Young Entrepreneur (IBYE) is on. The closing date for applications is October 14, 2016. 
Four former IBYE winners recently met with the Minister for Jobs, Enterprise and Innovation, Mary Mitchell O’Connor T.D. and talked about the role IBYE has played in their business success stories.
The four previous IBYE award winners run businesses from the worlds of technology, food, waste management and retail.

James Keogh (Wicklow) from Rathwood Home & Garden World Ltd.; Isolde Johnson (Dublin City) from The Cool Bean Company; Niall Mimnagh (Longford) from Mimergy; and Rhona Togher (Sligo) from Restored Hearing Ltd. have all won IBYE awards over the last two years 
As winners, they received investment funding, business boot camp places, and one-to-one mentoring sessions. 
“I want to promote entrepreneurship as a career choice, and to encourage young people to set up new businesses which will ultimately create and sustain more jobs right across the country,” says Minister O’Connor. “It is so refreshing to hear the success stories from these inspiring and ambitious young entrepreneurs.”
What is the IBYE, what’s involved? 
Ireland’s Best Young Entrepreneur is a programme open to people between the ages of 18 (at the date of application) and 35 (at 31st December 2016) with a great business idea. Entrants can be: 

Individuals
Venture teams
Partnerships
Existing businesses with a new idea
People overseas (including Irish emigrants) who will headquarter in Ireland

Each Local Enterprise Office (LEO) runs a competition in each county (Friday, October 14 is the closing date) aimed at finding winners in each of the three categories as well as an overall county winner. 
Each LEO will have a total fund of up to €50,000 to invest in six businesses (three category winners and three runners-up).

The three categories are:
1: Best business idea (pre-trading) – up to €10,000 investment fund through every LEO (€7,000 for category winner and €3,000 for runner-up,

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

Seven signs you’re a workaholic

Do you skip holidays, shun hobbies or constantly check emails on your work phone? If the answer is yes, you could be addicted to your job. 
If you are starting or growing or running a business, it is often impossible to avoid long hours and high levels of pressure. However, this kind of stress isn’t good, no matter how ‘macho’ it is perceived to be. Below are seven signs you may be harming your most valuable asset – your health.
1.    You bring your job home
Passion and dedication are key elements to success in any role. However, it’s also important to have a place away from work where we can unwind; this is usually found at home. While it may sometimes be necessary to bring a piece of work home when a deadline is approaching, when a person starts doing it on a regular basis it could be a sign, they are addicted to their job.  
2.    Not being in work makes you anxious 
Nerves can be good; they can keep you sharp and are a good indication that you care about what you’re doing. However, if you experience anxiety simply because you are away from your desk and are unable to enjoy yourself after hours, there’s a good chance you’re a workaholic. 
3.    You skip holidays 
It’s great to be able to say you love your job, but everyone needs a break now and then. Of course, getting time off can sometimes prove tricky, but if you actively avoid taking holidays instead of more work, you could have a problem.

4.    You don’t take sick days
Having a clean slate where it comes to sick days is commendable. However, if working through an illness puts your health or that of others at risk, you may well be addicted to your job. 
5.

This post was originally published here - https://www.thinkbusiness.ie/articles/workaholic/ on
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Think pensions with ThinkBusiness

There has never been a better time to start a pension. If you plan to retire well, it’s never too early (or late) to think about a pension.
There are different types of pensions. A pension is the most tax efficient way you can save money. Also, if you are an employer, you are legally obliged to allow staff access to a standard PRSA arrangement. Your first port of call when investing in a pension is to talk to a bank or to an authorised pension adviser. Below is a quick guide to the types of pensions available to you.  

Personal retirement savings account (PRSA)
Certain financial providers, including banks, building societies, insurance companies, and authorised investment firms, provide PRSAs. The money paid into a PRSA is invested in pooled investment funds, which are provided by unit trusts and some life assurance companies.
Anyone may open a PRSA, irrespective of whether they are working or not. However, only people who are self-employed, or who are employees not covered under an occupational pension scheme, may claim tax relief on contributions made to a PRSA.
Generally, the benefits under a PRSA may be taken between the ages of 60 to 75.  Access before the age of 60 is allowed in the event of ill health or certain other limited circumstances. If the PRSA owner dies, the PRSA fund forms part of the owner’s estate and is administered in accordance with the provisions of the owner’s will.
On retirement, the PRSA owner may withdraw up to 25% of the fund in cash, up to a maximum of €200,000 in cash. The remainder of the benefits are payable as follows:

The balance of the fund may be left in the PRSA (which becomes a “vested” PRSA) and used to make future withdrawals. These withdrawals will be subject to income tax and USC.
Alternatively, the fund

This post was originally published here - https://www.thinkbusiness.ie/articles/business-pensions-ireland/ on
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Agri Life – the pulse of a farming nation

‘Younger farmers are more ambitious, with three in five (61%) of those aged under 50 planning to grow the business over the coming years’ – Dr Loretta O’Sullivan.
Four in ten (43%) farmers plan to expand their farms over the next one to three years, with a similar number (44%) indicating that they would prefer the farm to remain the same size, and 13% intending to scale down.
New research, conducted for Bank of Ireland’s ‘Agri Pulse’, surveyed farmers on a range of topics including farm output, input costs, market prices, their investment plans and business ambitions.
One in four farmers (25%) expect to see an increase in output over the next 12 months, with 62% expecting no change. One in three (31%) saw an increase in farm output over the past 12 months, with half (52%) seeing the same output.

More investment
The Agri Pulse points to broadly positive sentiment among the farmers that participated in the study. One in four (24%) expect to increase investment in the farm in the next 12 months, with 59% keeping the same level. Replacing and upgrading buildings, equipment and vehicles and purchasing livestock are the main focus, with investment in new farm buildings, land and equipment and vehicles also cited (especially by dairy farmers). The majority plan on spending up to €50,000.
“The results show that a large number of farming businesses are on a growth track. While most of those planning on expanding over the next one to three years are likely to do so cautiously, the rest are set to actively pursue opportunities to grow. Younger farmers are more ambitious, with three in five (61%) of those aged under 50 planning to grow the business over the coming years,” says Dr Loretta O’Sullivan, group chief economist, Bank of Ireland.

The pressure points
The data points to some pressures on the input

This post was originally published here - https://www.thinkbusiness.ie/articles/farming-in-ireland-agri-pulse/ on
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Pink Kong’s great adventure

‘We are passionate about the content we are developing and believe our work can compete on the international stage’ – Niamh Herrity.
Dublin animation company, Pink Kong Studios, was co-founded in 2014 by producer Niamh Herrity and creative director Aoífe Doyle. Here, Niamh Herrity talks about building a business in one of the most creative, yet competitive, industries in the world.
Our business idea was to build a scaled, commercially strong business producing high-end animated content for worldwide viewers. 
This past year has been great. I won a Dublin City Women in Business Network ‘High Potential Business’ award. The company was shortlisted in the Bank of Ireland national startup awards in two different categories, and our short film ‘Meanwhile on the train’ won awards on the international film festival circuit.
We’ve just completed a short film, ‘Urban Tails’, commissioned by RTÉ Animated Short Schemes to be aired Autumn 2016. And we are really excited to have been awarded funding from The Irish Film Board to do a short film which is currently in preproduction.  
Being accepted into Cartoon Forum is an excellent way to get your project in front of the eyes of the industry. We had previously applied without success; the competition is fierce so that disappointed us in the past. However, we kept going, building on our ideas and are delighted to be pitching this year.
I think whenever there are setbacks you should allow yourself to take that moment to be disappointed; it is human nature. Consider it and then move on. Life is full of hurdles, so you just need to learn how to take it on board, make adjustments and not get too bogged down by it. Day to day stress is different to ‘setback’ stress. Planning your day and setting tasks helps combat the stress of the things you need

This post was originally published here - https://www.thinkbusiness.ie/articles/pink-kong-animation-dublin/ on
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Starting as a sole trader in Ireland

Here are five of the most important first steps you should take when starting in business as a sole trader.
Register with Revenue
First, you need to register with Revenue as a self-employed sole trader. This is your primary legal obligation as a sole trader. You can register online. 
In general, it’s advised that you hire a good accountant to help you with your tax and annual returns. Here’s an article on how to hire the right accountant.
Open a bank account
Then you need to open a bank account. Bank of Ireland allows sole traders to apply online for a business current account. It just takes a few minutes.
Arrange an overdraft
Talk to your bank about an overdraft. It’s important that you have an open working relationship with your bank and agree on an overdraft amount that can help with your cash flow. Here’s an excellent article about cash flow management. 

Have a cash flow plan 
It is also vital to have a cash flow plan. You can download a free cash flow planner here. It’s easy to use, and it will be good to show your bank manager when you require a loan or an overdraft. 
Protect your income
One of the most important things to consider if you are a sole trader is income protection. If for some reason, you can’t work for a period due to illness or injury, you’ll be glad you have income protection.
Remember, being a sole trader means you work for yourself, but you don’t have to work by yourself and carry every burden. A good bank manager, a good accountant, solid insurance and good legal advice (if you need it) will go a long way to ensuring you grow your business. 
READ MORE: A one-page tax guide on being a sole trader in Ireland.

This post was originally published here - https://www.thinkbusiness.ie/articles/starting-as-a-sole-trader-ireland/ on thinkbusiness