Madness at the Ulster Bank #hackmakethebank hackathon

Was just part of a meeting preparing for the upcoming Ulster Bank hackathon in the Dogpatchlab in CHQ on 29-31 January.

On the programme, apart from hacking is Techball, lessons in Irish dancing, food, drink and massages.

For good measure, participants can win Spheros. Yep, the robot that is the basis of BB-8 in Star Wars

I am concerned! If you want to be part of this madness, you need to be fast, tickets are quickly running out. Book your place here

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Want a slice of a 37 trillion business opportunity?

Business and not governments will provide the solutions to solve the climate change problem.

Climate KIC

As Irish partner of Climate-KIC, Europe’s leading cleantech programme, we run an IDEAS competition (or pre-accelerator) called Climate Launchpad.

Climate Launchpad

ClimateLaunchpad is Europe’s largest climate change business idea competition. It aims to unlock Europe’s cleantech potential and accelerate innovations that address climate change. To be able to do that, it must find Europe’s best sustainability ideas. This competition creates a stage for those ideas.

The programme

In 2015, 800 ideas spanning 28 European countries were put through the ClimateLaunchpad programme. The programme consists of a 2-day boot-camp followed by 6 mentoring sessions to develop an idea towards reality.

The class of 2015

 

 

From Ireland, 8 teams participated in ClimateLaunchpad 2015. They included Agri Grow Lights; Amarna Energy Solutions Limited; Boltz Secret Seeds; Climate Friendly Design; Marker Biofuel; Smartearth; Unibloc; and WasteNOT. Of these eight, three were chosen to represent Ireland at the European Finals [Agri-Grow Lights, Boltz Secret Seeds and WasteNot], which were held in Amsterdam, September 2015. WasteNot managed to get to the last 20.

Become part of the class of 2016

Building on our ClimateLaunchpad Ireland 2015 success, we will start our next programme in early 2016, giving you access to the largest accelerator in the world, covering 28 European countries. The final will take place in October in Tallin, Estiona. This year, we want to win.

If you have an idea

If you have an idea, or are an early stage start up that has climate impact (and most start ups should ), we would like to talk to you. This could mean that you are an early start-up, SME, researcher, student, public organisation, consultancy, engineering company or a combination of these. It does not need to be high tech, but it does need to have a positive impact on the climate. Anything goes.

Register now

To register your interest please e-mail ron.immink@sustainablenation.ie and we will be in touch by return. We hope to start our first programme in early February.

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thinkbusiness

Financial Management Tips to Keep the Cash Flowing

There are so many intriguing layers to running a business. Though you may have the best products and services in your industry, they all mean nothing if you can’t properly manage your cash flow. You need cash to adequately market your products and services, hire and pay staff, manufacture and produce results, and provide customer service. If your cash is always tied up in one aspect of business or another, your business stands to become stagnant. To avoid this common pitfall, here are some tips on effectively managing your cash flow:

  1. Better Record Keeping

One of the most basic yet important concepts to managing cash flow is diligent record keeping. When the subject matter is your company’s finances, there is really no such thing as being too observant of your money. It is important to implement a process for keeping a record of all financial matters within the business including your banking statements, receipts, invoices, expense reports, and payroll. If you can’t afford to hire an accountant, there are plenty of affordable accounting software packages you can invest in to help make recording finances a lot easier. When you have a clear understanding of where your money is you’re better prepared to make financial decisions for the future.

  1. Improve Receivables

If you’re in the business of extending credit to your customers, then your receivables are where a lot of your cash is tied up. It is important that you have clear guidelines and contracts between your customers so they pay in a timely manner. Popular methods for getting customers to pay on time include offering incentives like discounts for paying prior to the 30- or 60-day timeframe. Other ways to improve your receivables would be to offer several methods of payment so that customers can opt to electronically pay you for your products or services. You also want to make sure that you have a follow-up process in place for customers who are nearing their due date to try and get the funds collected.

For problematic customers or outstanding invoices, some small business owners opt to consider factoring accounts receivables. Factoring companies will purchase the outstanding invoices from qualifying companies and give cash up front. This way you can use the money without having to wait for the customer to pay you.

  1. Efficient Filing

Another part of maintaining financial records is having a systematic filing system in place. Whether you’re currently operating with digital forms or you still prefer to use paper, there needs to be a system in place that will keep all financial documents in order. Cloud file management systems are trending for businesses that utilize digital forms. Documents can easily be scanned and uploaded to the server for safe keeping. When the forms are needed, they can be easily accessed by specific staff members who have permission. This keeps things from getting out of hand or overlooked as tons of paperwork often can.

  1. Consider Different Payment Terms

If you’re really having a hard time collecting from your customers it might prove beneficial to consider different payment terms going forward. By requesting for example, that customers give you a 50 percent deposit upfront, you’re lessening the amount of cash you have outstanding. If you’re going to make changes to payment terms, it is important to do so in a manner that does not upset current customers. Incorporating it into new contracts, for instance, is ideal so that there is no confusion going forward.

  1. Maximize Payables

Your customer’s aren’t the only ones who have to foot a bill; you also need to make sure that you’re paying your vendors on time. If you can slow down the process of repaying your vendors, then you can effectively manage your cash flow a bit better. This might include asking for extended repayment options so that you have 60 to 90 days to pay them. If you like this option, be sure that you don’t overdo it by forgetting to pay your vendors on time as this could create more financial issues for you with late fees and a ruined business relationship.

Effective money management is the key to operating a business. Without the cash for operating costs, the business will slowly but surely dissipate. If you’ve been having cash flow issues, try incorporating some of these ideas into the mix. Over time, you should start to see some cash free up that can be put to use elsewhere such as in developing new products and services or expanding your business in the next few years.

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A Few New Year Marketing Resolutions to Ensure 2016 Outperforms 2015

When it comes to marketing for the New Year, companies forget they need to take a step back in order to take a few steps forward. What does this mean? It means businesses must be able to critically examine their work from years past before they’re able to make good marketing resolutions for the future.

Many businesses are in the money making zone; they forget what it’s like to be a consumer. Think critically as your customer… What would you improve about your business? What do you want to see from marketing strategies (more coupons, more contests, less direct mailers)? If this is difficult for you, consider surveying your customers. Ask your customers directly because their responses are going to help you paint a clear picture of the resolutions you should make in 2016. Engaging your customer is the purpose of any marketing strategy.

Here’s some ideas for a New Year in marketing, many of which can help ensure 2016 is your best year to date:

Be Memorable with Eye-Catching Packaging

Okay, so brown boxes are inexpensive and cost efficiency is a good thing; however, imagine if a small investment into creative packaging could cause repeat business? Your bottom line would increase, and the small investment would be worth it. Look to companies specializing in creative packaging, such as custom made boxes by Custom Boxes Now, to save money and ensure the packaging is memorable.

Here’s an idea: make your packaging holiday or seasonal. Around the holidays, especially, this packaging will be impactful and memorable. Being memorable is a priceless commodity, and ensures repeat business. It helps to create a brand, and once you’ve established a known brand you can almost guarantee ongoing success.

Renew Your Target Audience

You’re thinking, but, I already built my target audience. No. Stop. You should renew your target audience the same way you renew resolutions – Every. Single. Year.

Go over last year’s data. Notice any patterns? These patterns paint a picture of who your customer is, and should provide you with information about who to target. If the outcome is the same as last year, great. If it’s different, you’ll need to change your strategy. Either way, you should review your target audience year after year. You can’t build a successful marketing campaign without knowing your customer first.

Send Mailers that Won’t End Up in the Trash

People hate junk mail, so the secret to a successful direct mail campaign is to send mailers people want to hold onto. This could include a valuable coupon or offer. In general, you should use the information you have on them (target audience data) to create a mailer that grabs their attention, and connects with them on their level.

Be creative, colorful, and add seasonal cheer, such as holiday themes and colors. Be bright, bold, and fun. A bland, dreary, plainly colored mailer isn’t going to grab anyone’s attention; nor will boring language. You need a talented copywriter to push sales and motivate readers. If you want consumer attention, you should have something to offer, and also be willing to get silly or funny. Give them a reason to shop with you (coupons, promos, etc.), and give them a reason to not forget you (be funny).

Branch Out on Social Media

So, you’ve already got a Facebook and Twitter. Why not make 2016 the year you embrace another social media channel, such as Snapchat? Interacting directly with your customers is a great way to get attention.

Take part in your community (whether in person or online). It’s a great way to market your business, how what you have to offer, and build personal relationships. No matter your demographic, reaching out with photos and commentary builds a network of loyal customers.

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Fireside chat with RBS/Ulster Bank skunk team

Working with Ulster Bank is a pleasure. We get paid to be helpful to small businesses, we are housed in Dogpatchlab and we get to work on some cool projects.

RBS distinguished engineers

It also means an opportunity to meet some very cool people. This week Ulster Bank hosted a fire side chat in Dogpatch with the RBS distinguished engineers, a RBS skunk team that fly around the world solving problems, innovating, developing prototypes in spikes of less then a week. This week they were in Dublin.

The topics of discussion

The discussion points were around the future of fintech, bitcoin and blockchain. Convergence, faster banks, slower fintech, surviving digital, customer experience, trust actors, digital assets, the role of operating systems, compliance, regulators, Kenya and Ireland, bit torrent, Ripple, etc. A very rich vain of conversation and discussion.

I learned a lot

I learned that banks now move 30% of the UK economy (salaries) at the end every month in 10 seconds. That banks are the most regulated sector in the world. That fintech companies that want to scale will eventually have to deal with the same regulators, which is no picnic.   

That in the middle ages stealing would get you killed, but forging would get you boiled in oil. That banking as a term is protected in Ireland and the UK and that I still can’t explain bitcoin to my mum (but I am getting there). I now also know that half of the bitcoin stock is hold by only a 1000 people and we don’t know who they are.

Innovation in Ireland

There was an interesting view on the innovation eco system in Ireland. It was compared to Kenya and that was meant as a compliment. Kenya was the birthing ground of Mpesa. We can do the same.

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Fireside chat with RBS/Ulster Bank skunk team

Working with Ulster Bank is a pleasure. We get paid to be helpful to small businesses, we are housed in Dogpatchlab and we get to work on some cool projects.

RBS distinguished engineers

It also means an opportunity to meet some very cool people. This week Ulster Bank hosted a fire side chat in Dogpatch with the RBS distinguished engineers, a RBS skunk team that fly around the world solving problems, innovating, developing prototypes in spikes of less then a week. This week they were in Dublin.

The topics of discussion

The discussion points were around the future of fintech, bitcoin and blockchain. Convergence, faster banks, slower fintech, surviving digital, customer experience, trust actors, digital assets, the role of operating systems, compliance, regulators, Kenya and Ireland, bit torrent, Ripple, etc. A very rich vain of conversation and discussion.

I learned a lot

I learned that banks now move 30% of the UK economy (salaries) at the end every month in 10 seconds. That banks are the most regulated sector in the world. That fintech companies that want to scale will eventually have to deal with the same regulators, which is no picnic.   

That in the middle ages stealing would get you killed, but forging would get you boiled in oil. That banking as a term is protected in Ireland and the UK and that I still can’t explain bitcoin to my mum (but I am getting there). I now also know that half of the bitcoin stock is hold by only a 1000 people and we don’t know who they are.

Innovation in Ireland

There was an interesting view on the innovation eco system in Ireland. It was compared to Kenya and that was meant as a compliment. Kenya was the birthing ground of Mpesa. We can do the same.

The post Fireside chat with RBS/Ulster Bank skunk team appeared first on Small Business Can.

The Hackathon Returns to Ulster Bank!

What’s happening:

This January Ulster Bank, together with the Open Bank Project and Dogpatch Labs, will host the next edition of the Hack (Make!) the Bank series of global fintech hackathons in the newly redeveloped Dogpatch Labs Vaults at the heart of the Silicon Docks in Dublin.

Last year Ulster Bank was the first bank to host a hackathon in Ireland, with some tremendous feedback from all involved. If you missed the events you can check out the highlight video.

Robin Marshall, Ulster Bank CIO

“My overarching reflection on the two hackathons is one of encouragement at the amount of ideas we collectively have as to how we can make banking better for our customers… Everyone can contribute to and participate in a Hackathon, you don’t need to be an engineer, a designer or a marketeer, if you have an opinion and an imagination, you have all the tools you need.”

Alan Lockhart, RBS Principal Architect

“The challenge for RBS today is, how do we CHANGE the way we work, so that we encourage, adopt and embrace open innovation? In a hackathon there are no silos. Business, Designers and Coders, all of necessity, collaborate closely to produce a solution … Hackathons (are) an opportunity for our staff to dive in and experience agile working in a totally safe environment”

This edition promises to be even better than last years, with a fantastic new location, new challenges, and of course, great prizes!

How can I get involved?

Hackathons are open to all, you don’t need to be technically minded to participate. A hackathon is a team event, and each team needs a mix of skills if they want to succeed.  If you have an idea you would like to pitch, if you enjoy working as part of a team, or if you have a good eye for presentations or designs then you’d make a welcome addition to any hack team.

Event Details

Date: Friday 29 January 18.00 – Sunday 31 January 18.00

Location: Dogpatch Labs, CHQ Building, Custom House Quay, Dublin Docklands, Dublin 1

Whether you are planning to attend the full event, or just popping in to see what the fuss is all about, you can register using the link here

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thinkbusiness

Meath enterprise week, food, digital and entrepreneurship

Over 20 events

Building on the success of last year’s Meath Enterprise Week, 2015 promises to be even bigger. With an objective to showcase Meath to the world in the areas of Food, Digital and Entrepreneurship over 20 events will be held from November 16th to 19th, culminating in a Conference and Showcase Exhibition that will take place on November 19th in the Knightsbrook Hotel, Trim. The four-day programme will be held in different locations across County Meath and includes Food, Digital and Enterprise events, seminars, workshops and schools programmes.

 

 

Showcasing Meath

Gary O’Meara explains “Our objective is to provide the vehicle to showcase Meath as a place to do business. With the recent announcements around the Boyne Valley Food Hub project and Facebook, it can be very clear to all that the themes Food, Digital and Entrepreneurship will play a significant role in the future development of the region. There can be no doubt that there are very challenging but exciting times ahead for Meat, and Meath Enterprise Week is the perfect opportunity for people to get connected and involved”

The Meath Business Showcase and Conference

The Meath Business Showcase and Conference on Thursday November 19th will be held from 8.30am to 4.30pm.   A panel of high profile business people (including Ron) will participate in a number of panel discussions during the day and there will be Keynote addresses also. The event will have an international dimension with business people inputting to the conference from all over the world via video links and Skype Feeds.

You are invited

Meath Enterprise are now inviting businesses to apply for places at the EXPO, it is expected that more than 70 businesses will be showcasing at the event. To book your FREE place at the #MEW2015 Business Conference and Expo or for further details on other events taking place during the week please visit – http://www.meathenterprise.ie/enterprise-week-2015/

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thinkbusiness

InterTradeIreland: 84% of Companies Across the Island are Stable or Growing

Cross-border economies are growing
The latest InterTradeIreland Business Monitor Report for Quarter three (July – September 2015) shows that the economy is continuing to grow. All sectors are performing well but the professional services sector is taking the lead with 50% of businesses expanding and 95% stable or expanding.

Divergence
The report also revealed that there is now a clear divergence emerging in sales performance and employment numbers between both jurisdictions, with Ireland faring better in both areas. This is not unexpected and reflects structural differences in the two economies that differentiate their ability to take advantage of economic tailwinds.

Although relatively close in the final months of 2012, there is now an 8% difference in businesses increasing sales in the last quarter (Ireland at 41% vs Northern Ireland at 33%) which is also reflected in the number of businesses expanding employment levels with 12% in Ireland and 8% in Northern Ireland.

Capacity in firms high
In total, growth is still being driven by less than half of all firms (42%) with many companies reporting considerable spare capacity and less than one in three (31%) reporting to be working at full capacity.

Evidence of economic improvements
The economic upturn is reflected in the key challenges which businesses now say they are facing. Normal business pressures are now at the fore of issues facing firms with cash flow at 11%, new competition, late payments and internal costs all at 9%. Concerns over energy costs have dropped from 15% this time last year to 6% and business costs in general have decreased though remain significant for the manufacturing sector.

Staff salaries increase
33% of companies report that they plan to increase staff salaries with Northern Ireland (35%) leading the way from Ireland (32%). Large industry is ahead of the pack with 51% of firms of more than 50 employees planning to increase wages and 38% of manufacturing companies following suit.

This bodes well for the introduction of the National Living Wage in April 2016. The majority of firms (80%), with the exception of the hospitality industry, are not expecting this to have any negative impact. The hospitality sector continues to feel the strain of energy prices and is concerned about the impact of the Living National Wage next year. However, cash flow issues will need to be addressed before salaries can be raised across the board.

InterTradeIreland’s Business Monitor
InterTradeIreland’s quarterly Business Monitor survey is the largest and most comprehensive business survey on the island and is based on the views of more than 750 business managers across Northern Ireland and Ireland.

It differs from other surveys in that it is seen to be the ‘voice of local businesses’ feeding directly from telephone interviews conducted with a robust sample of firms of all sizes across a range of sectors to track all-island economic indicators such as sales, employment, business outlook and other specific topical research areas on a quarter by quarter basis.

Further information
For more information on InterTradeIreland and their business support programmes, please visit www.intertradeireland.com . A copy of the 2015 Q3 InterTradeIreland Business Monitor Executive Summary can be viewed at: www.intertradeireland.com/researchandpublications/business_monitor/

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