Slaney Business & Finance
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Local hotels invest for the future Two hotels in the Griffin Group have received over €250,000 investment in the month of January 2013. Ferrycarrig Hotel located on the waters-edge just outside Wexford town has opened a stunning new lobby and upgraded 10 bedrooms, while Hotel Kilkenny, in Kilkenny city, has just completed the refurbishment of 50 bedrooms. Commenting on the investment Michael Griffin, CEO of the Griffin Group said, “We are delighted to unveil a fresh new look for the Ferrycarrig Hotel, the works carried out have been fantastic and we are delighted to be in a position to continually re-invest in the business for the benefit of our guests. We are sure that visitors old and new will enjoy the new looks of both the Ferrycarrig Hotel and Hotel Kilkenny.
“It is very important to us to build on this family business which has been in operation since the 1960’s and we are delighted to have found great talent in Wexford which allowed us to place over 80% of the funds invested with local suppliers and contractors to carry out the works to the highest standard. We really do believe in supporting our local economies wherever possible. We would like to thank our superb staff for all of their assistance and dedication which has greatly aided our company to face the turbulent and trying times of this recession. “At the Griffin Group we take pride in the value we offer to our guests, this is not just about pricing but more important than that is the four and five star standard of service, friendliness and quality of product that our guests enjoy
L-R: Tracey McHugh, Assistant Front Office Manager, and Cathy Keelan, Front Office Receptionist, unveil the new Lobby at the Ferrycarrig Hotel as a €250,000 investment in renovations at Griffin Group hotel properties was announced last month. Pic: Patrick Browne.
each and every time they visit.” Michael concluded. To top off the month of January for the Griffin Group; Monart Destination Spa won two further international acco-
lades that month: Best Irish Spa Resort from the World SPA Traveller Awards as well as highly recommended by Red Magazine as a world class Destination Spa. n
Employment Law & SME Supports Seminar ISME will be holding a FREE seminar on Employment Law & SME Supports in the Riverside Park Hotel this Wednesday, February 6th, 5.30pm until 8.00pm. So you will need to act fast or you will miss out. This seminar will be sharp and to the point, full of relevant and practical tips on all aspects of Employment Law and SME Supports. Hear and learn about pitfalls that could
R & D Tax Credits...... & much more. Do you have: ● Correct procedures for Sick Pay, Discipline, Shorttime, Redundancy? ● Proper records? ● Contracts of Employment? ● Terms & Conditions of Employment? ● Are you ready for a NERA inspection? This event is an opportunity ●
cost money and learn about supports for your business that will save you money: ● Employment Incentives ● Micro Finance Scheme ● Partial Guarantee Scheme ● Innovation Vouchers
for SME owner managers to discuss their business issues, get advice and discover where to get templates and checklists, which keep you compliant. There will be ample time to network so bring along your business cards. This event is free, but registration is essential as places are limited. Contact: Shauna Golden, ISME, (01) 6622755, info@isme.ie. n
Microfinance guarantee welcomed The local Enterprise Board in Co. Wexford has welcomed the signing of a guarantee agreement covering loans to entrepreneurs and microenterprises under the Government’s Microfinance scheme. The network of County and City Enterprise Boards, including the Wexford County Enterprise Board, is encouraging small businesses to apply for the new Microfinance Ireland loan scheme, if they have been refused credit by the banks. To apply for loans of up to €25,000, start-ups or small businesses employing fewer than ten people must have a commercially viable business proposal and the Enterprise Boards can provide assistance with the application process. Aimed at companies with less than ten employees and a turnover of less than €2mil-
Tom Banville, Acting CEO, Wexford County Enterprise Board
lion, the microfinance scheme is run by Microfinance Ireland in partnership with the County and City Enterprise Boards. Nationwide, the ten-year m i c ro f i n a n c e s c h e m e i s expected to assist 5,500 microenterprises, helping to create an estimated 7,700 jobs in Ireland. Tom Banville, CEO from the Wexford County Enterprise
Board explains: “Loans under the new microfinance scheme can be up to €25,000 and the money can be used towards business start-up costs, expansion plans or general working capital. This new loan scheme is filling a gap in the market, to help secure credit for more micro-enterprises in more local areas. The Enterprise Boards can help applicants with advice around business plans, cash flow projections and the application process itself.” The Chairperson of Microfinance Ireland, Ms. Geraldine Kelly, said: “The scheme is open to sole traders, partnerships and limited companies, across all industry types and business sectors, from services to manufacturing. We’re also encouraging new start-ups to apply, in addition to micro-enterprises looking to expand. Working
in partnership with the County and City Enterprise Boards, our doors are now open for business in every county.” Set-up through the Department of Jobs, Enterprise and Innovation under the Government’s Action Plan for Jobs, the Microfinance Loan scheme was established last October, by Minister Mr. Richard Bruton, T.D. The guarantee agreement, signed between the European Investment Fund and Microfinance Ireland, is given under Progress Microfinance, managed by the European Investment Fund of behalf of the European Investment Bank. Contact details for the local County and City Enterprise Boards can be found at www.enterpriseboards.ie and further information on the application process is also available from www.microfinanceireland.ie n
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SONRu ANNOuNCES PARTNERSHIP WITH WEBRECRuIT Wexford based Sonru, a global leader in the field of video interviews and selection, announced last month it has formed a strategic partnership with online recruiter webrecruit (backed by former Dragon James Caan) to offer their video selection software via webrecruit+ – webrecruit's managed services division. webrecruit+ is the managed services division of webrecruit, offering an alternative for businesses looking to outsource their recruitment process. It combines candidate sourcing expertise with technology, tools and processes to create world-class recruitment for clients on demand and the partnership with Sonru makes an ideal addition to the product and services suite. Edward Hendrick, Founder at Sonru, said: “We are delighted to announce this partnership with webrecruit which is a reflection of the increasing number of webrecruit clients that are turning to Sonru to optimise their screening and selection process.”
TAxING THE RICH, NOT TAxING WORK Local Sinn Féin representative, Anthony Kelly, has renewed his call for the introduction of a wealth tax, claiming such a tax would be a charge on those who could afford and not something that would impede the creation of employment. Cllr Kelly said: "Minister Bruton seems to be out of touch with reality. The Minister has ruled out a tax on wealth by suggesting that it would impede the creation of new jobs. He backed this up by revealing that the IDA created a little over 6,000 jobs last year. Does the Minister not realise that there are close to 20,000 people out of work or in forced temporary employment in this Cllr Anthony Kelly county alone? Does he realise that this state is suffering from an emigration crisis not seen since the famine? "Minister Bruton should explain his utopian talk to the 2,200 Wexford people who turned up at the Opera House last week to apply for 250 new jobs. The creation of these new jobs is greatly welcomed but we need more, far more than Minister Bruton and his government are capable of delivering. "Sinn Féin has consistently proposed making those who can afford to pay more to do so. We favour the introduction of a 1% wealth tax on net assets over €1 million excluding working farmland, business assets, 20% of the family home and pension pots. Such a tax would bring in €800 million per annum, would be progressive and would relieve the unbearable pressure on ordinary people."
KPMG LAuNCH GuIDES TO ASSIST IRISH BuSINESS ExPAND IN BRICS MARKETS Leading accounting firm KPMG has developed country specific guides for each of the five markets Brazil, Russia, India, China and South Africa – highlighting the tax and other issues to be borne in mind by Irish companies when considering investment decisions in these markets. ● The five BRICS countries represent almost 3 billion people, with a combined GDP of US$14.9 trillion and an estimated US$4 trillion in foreign reserves. ● Given the need for Irish companies to expand to achieve scale- the BRICS markets represent a diverse yet significant opportunity. The government has encouraged Irish companies to look at BRICS countries as a largely untapped opportunity. Speaking at the launch, KPMG Tax Partner Sharon Burke said: “Government support for Irish business looking to the BRICS markets has been well flagged.” Burke continued: “The potential benefits of overseas expansion are clear but the serious pitfalls may be hidden – we believe these specially tailored guides with their country specific information will be a useful resource for Irish business as they look to expand internationally." For more see: http://youtu.be/Wyy7nX1rysg n ●
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