Better Business Winter 2023

S U P P O RT I N G E N T R E P R E N E U RS | VA LU I N G SM A L L B U S I N ESS | R E W A R D I N G R I S K TA K E RS | W I N T E R 2023

BUSINESS THE VOICE OF SMALL BUSINESS MEET SFA DIRECTOR DAVID BRODERICK

BETTER BUSINESS WINTER 2023

ON THE MONEY

ADVICE ON HOW BEST TO SECURE A BANK LOAN

PUTTING THE PR IN ENTREPRENEUR PR FIRMS SHARE THE SECRETS TO THEIR SUCCESS

Fair and

Square

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JOHN O’BEIRNE

ON HOW SOLUTIONS FROM SQUARE GIVE BUSINESSES TIME TO FOCUS ON WHAT REALLY MATTERS

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EXECUTIVE DIRECTOR

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We would like to congratulate all of the following companies who have succeeded as finalists in the SFA National Small Business Awards 2024.

All category winners and the overall winner will be presented with their awards at the SFA Awards Gala Ceremony in March 2024.

MANUFACTURING

EXPORTER

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FOOD AND DRINK

INNOVATOR OF THE YEAR

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Leinster Environmentals Total Plastic Solution ■ Hygeia ■ Thorn Environmental ■ K&K Windows ■ Farm Fresh Foods

Klearcom Tech Zeus Scooters ■ HYDE Irish Whiskey ■ Loughran Brewing Stores ■ OCEANR ■ Burren Smokehouse

Burren Smokehouse Loughran Brewing Stores ■ Oishii Foods ■ Murphy’s Ice Cream ■ HYDE Irish Whiskey ■ HX46 café and pan Asian casual dining

SERVICES

ATC Waterford Distillery ■ Dynamic Electrical Engineering Contractors ■ Zeus Scooters ■ Klearcom Tech ■ On-Site Refueling ■ OnePageCRM

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SUSTAINABILITY

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OSENG Climeaction ■ moneysherpa ■ Pawprints Cremation ■ PD Ceramics Ltd. ■ ROCTEL

OUTSTANDING SMALL BUSINESS Drink Botanicals Ireland Jack Murphy Clothing ■ Zingibeer ■ Nutty Delights ■ Irish Socksciety ■ Funky Monkey Foods ■

WORKPLACE WELLBEING

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Hills Fine Art & Craft Materials ICE Group ■ Funky Monkey Foods ■ Michael’s Mount Merrion ■ Three Q Temps ■ ■

RETAIL

EMERGING NEW BUSINESS

The Sports Room ■ Willie Duggan Lighting ■ Picado Mexican ■ Herd Butchery ■ JJ Burke Car Sales ■ Tour America ■

TRAINING SPONSOR

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Drumhierny Woodland Hideaway ■ Hygeia ■ OB-1 Hair ■ Re-Cycle Bikes ■ Burren Smokehouse ■ Waterford Distillery

Colectivo Ecco Spray ■ JustTip Technologies ■ Little Learning Steps ■ Weighless Wonders ■ ■

MEDIA PARTNER

Presented by

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S U P P O RT I N G E N T R E P R E N E U RS | VA LU I N G SM A L L B U S I N ESS | R E W A R D I N G R I S K TA K E RS | W I N T E R 2023

WELCOME WINTER 2023

BUSINESS THE VOICE OF SMALL BUSINESS MEET SFA DIRECTOR DAVID BRODERICK

BETTER BUSINESS WINTER 2023

ON THE MONEY

ADVICE ON HOW BEST TO SECURE A BANK LOAN

PUTTING THE PR IN ENTREPRENEUR PR FIRMS SHARE THE SECRETS TO THEIR SUCCESS

Fair and

Square

a2.70

ON HOW SOLUTIONS FROM SQUARE GIVE BUSINESSES TIME TO FOCUS ON WHAT REALLY MATTERS

9

772009 911007

04

EXECUTIVE DIRECTOR

JOHN O’BEIRNE

On the cover: John O’Beirne, Executive Director, Square, at the Aloft Dublin City Photography: Paul McCarthy

Editor: Denise Maguire Creative Director: Jane Matthews Designer: Alan McArthur Production Executive: Nicole Ennis Managing Director: Gerry Tynan Chairman: Diarmaid Lennon Email: info@ashville.com or write to: Better Business, Ashville Media, Unit 55, Park West Road, Park West Industrial Estate, Dublin 12, D12 X9F9.

Tel: (01) 432 2200 All rights reserved. Every care has been taken to ensure that the information contained in this magazine is accurate.

The publishers cannot, however, accept responsibility for errors or omissions.

Reproduction by any means in whole or in part without the permission of the publisher is prohibited. © Ashville Media Group 2023. All discounts, promotions and competitions contained in this magazine are run independently of Better Business.

The promoter/advertiser is responsible for honouring the prize. ISSN 2009-9118 SFA is a trading name of Ibec.

Welcome to Better Business, a magazine dedicated to the small business community.

In this edition, we look back on the past 12 months of busy SFA activities from our successful in-person event in Cork, the SFA National Small Business Awards and our Annual Lunch recently held in Dublin’s Mansion House.

The HR pages go through the Sick Leave Act 2022 while our policy pages reflect on Budget 2024. Our cover story is Square’s Executive Director John O’Beirne, who explains how solutions from Square can give business owners time to focus on what really matters.

Elsewhere in these pages readers will learn about how to prepare for a loan application and what to do if refused and we dive into the area of surveillance in the workplace with SFA member Sovy and Whitney Moore.

Our sector spotlight looks at entrepreneurs running PR agencies.

We meet exporting business owners and look at the growth in trade and Irish exports.

This magazine contains stories that inform, inspire and entertain. It showcases and celebrates the achievements of small companies, provides advice to help you in your business and keeps you up to date on the latest trends at home and abroad.

Ireland is a nation of small businesses. Of over 267,000 businesses in the country, 99% have less than 50 employees (small) and 92% have less than 10 (micro). These companies can be seen in every city, town and village in the country and together they provide employment to half of the private sector workforce.

The SFA proudly represents a diverse membership of businesses with less than 50 employees: homegrown and spanning every sector of our economy. Our members can be found in every town and every city in Ireland. We want to make Ireland the most vibrant small business community in the world – an environment that supports entrepreneurship, values small business and rewards risk takers.

Better Business is the magazine of the small business community. We welcome your feedback, suggestions and ideas to info@sfa.ie or on Twitter @SFA_Irl. David Broderick Director, Small Firms Association

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CONTENTS WINTER 2023

04 12 16

Big News for Small Business News, views and profiles from SFA members and small businesses in Ireland

On the Money Advice on how best to secure a bank loan

Interview Meet David Broderick, the new Director of the Small Firms Association

18 20 24

Events 2023 was full of great events that brought insightful information to small businesses

Sector Spotlight Better Business speaks to two Irish firms about the challenges associated with exporting

Workplace Surveillance Employers must get the balance right when it comes to workplace monitoring

28 32 37

Cover Story John O’Beirne on how solutions from Square give businesses time to focus on what really matters

Entrepreneurs PR firms share their experiences and insights on growing successful businesses in PR

Top Tips A strong brand can increase a company’s competitive advantage

HR The WRC has published its first decision under the Sick Leave Act 2022 – a welcome finding for small firms

Arts and Culture Set up by Lisa Hodge, Totes Upcycled uses reusable tote bags to make upcycled materials

And Another Thing…

Carmel Somers on establishing an ethical and values-driven culture

42 48 55

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Winter 2023  Contents

FROM TOP LEFT: David Broderick, SFA Director, on being the voice for small businesses in Ireland, page 16 // Executive Director John O’Beirne explains how solutions from Square can help businesses focus on what really matters, page 28 // Alice PR founder Martina Quinn on why it’s a good time to be in PR, page 32 // Sinead Kelly talks to Better Business about how best to enhance your company’s wellbeing, page 45

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Updates  News

BIG NEWS FOR SMALL BUSINESS

Gareth and Michelle McAllister (Ahascragh Distillery founders) receiving the award

AWARD

Green win for Ahascragh Distillery

Ahascragh Distillery took home a prestigious award for the Innovative Deployment of Renewable Energy at the 2023 Sustainable Energy Authority of Ireland Awards. This accolade recognises the founders’ dedication and ingenuity in leading the way to decarbonising the energy source for the distilling industry. Nestled in the village of Ahascragh in the heart of County Galway, the newly renovated mill which houses Ahascragh Distillery produces zero energy emissions as fossil fuels or gas are not used to drive the production process. This is a first for the industry. Through the innovative use of wind and solar energy combined with high temperature heat pumps, Ahascragh Distillery founders Gareth and Michelle McAllister have changed the way whiskey and gin are made in Ireland. Ahascragh Distillery was granted €500,000 capital support to complete construction of its eco-distillery and visitor experience in the West of Ireland. The funding was awarded to the company through SEAI’s EXEED Programme.

NOVAUCD CELEBRATES HUB OF INNOVATION Since 2003, UCD has supported 550+ companies and early-stage ventures through the services and supports provided across the University by NovaUCD and through business support programmes run and managed by NovaUCD. In addition, the NovaUCD entrepreneurial community has raised €1.3+ billion in equity funding over the last 20 years. NovaUCD is currently supporting 70+ start-ups and established companies to grow and scale on a national and global stage. Based on the results of a short survey, these companies collectively plan to create over 1,100 jobs and raise over €290 million in funding over the next two years. SFA has worked closely with NovaUCD over the past number of years and has seen first-hand the amazing small firms that have been established in NovaUCD, many of whom have participated and won SFA National Small Business Awards.

SFA MEMBERS SFA COUNCIL UPDATE Members of the Small Firms Association gathered on Monday 6th of November for its AGM to elect new members to the governing body of the association, the National Council. Re-elected to the council were Marina Bleahan, (Business Works) and Rohit Thakral (Target integration).

Newly elected members were Philip Delaney (Dairyglen), Chris Fleming (Sea Green Health) and Paul Murphy (AVCOM).

IF YOUR BUSINESS HAS SOME NEWS TO SHARE THAT YOU WOULD LIKE FEATURED IN THE NEXT EDITION OF BETTER BUSINESS, CONTACT DAVID BRODERICK AT DAVID.BRODERICK@SFA.IE

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News  Updates

INNOVATION

LABEL TECH INVESTS IN ONLINE PORTAL Innovation has now become one of the key elements within a business. As competition for customers and resources becomes more and more intense, the ability of a company to innovate is often more important than any other factor. SFA member Label Tech has invested in a new online portal called Siteline, which allows browsing of visual representations of its labels, selecting quantities, uploading purchase orders and checking out. This transformative feature empowers customers to order from any location at their convenience, providing a seamless and flexible experience tailored to their schedules. “Listening to our customers’ needs is a priority for us and the positive response has been overwhelming, with an increasing number choosing the ease of placing orders online,” said James Costello, Managing Director, Label Tech Ltd. “Customer satisfaction is our motivation to continually adapt and improve and the introduction of Siteline has helped us to achieve that.”

.IE DIGITAL TOWN AWARDS 2024 COMING SOON! Now in its fourth year, the .IE Digital Town Awards recognise projects with a digital element that have been created by town groups and local communities.

Digital offers the opportunity to promote innovation and breathe new life into local communities, making them more attractive places to live and work as well as contributing to a more sustainable future. The Digital Business category, sponsored

by Square, is open to individual businesses, town business associations, Business Improvement Districts (BIDS) and Chambers who can demonstrate how the implementation of digital technology improved their business or contributed to a town project. The .IE Digital Town Awards will open for applications at the end of January 2024 and close in March 2024. Check out all the categories and inspiring digital stories of previous winners at www.DigitalTownAwards.ie. The total prize fund is €60,000 and there is no fee to enter.

Climate action and energy supports for business The Government provides a range of climate action supports and resources to help businesses on their journey to sustainability. Supports are also available to help mitigate the impact of energy price rises.

■ Starting your energy efficiency journey

■ Planning, preparation and training ■ Improving your business with funding Visit - enterprise.gov.ie/en/what-we-do/ supports-for-smes/energy-supports/ energy-supports-for-business.html to learn more SFA | BETTER BUSINESS 5

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Updates  News

NAA PARTNERS WITH JURA COFFEE

TOP POSTS @BusinessPlusMag Expert View: SFA’s David Broderick Calls Out A Budget That Fails To Do Enough For Business Owners @SFA_Irl #budget24 #SME #smallfirms @TUDublinEntEng @SFA_Irl @PTSBIreland and 10 others Congratulations to all!

Such a great variety of strong businesses!

JURA, known for its high-end, precision-engineered coffee appliances, has partnered with NAA to bring quality and convenience to your homes. JURA is a coffee brand that seamlessly blends innovation and sophistication to deliver an unparalleled brewing experience. NAA says its commitment to growth and excellence continues as it expands its offerings, inviting customers to experience the perfect blend of technology and taste. With a legacy rooted in artisanal roasting and sustainable sourcing, JURA aligns seamlessly with NAA’s ethos of quality and responsibility.

This launch is not just about introducing new products, but also signifies a dedication to providing NAA’s customers with premium choices.

@SkillsDublin Today was all about “Unlocking Fully Funded #UpSkilling” thanks to @SFA_Irl team who hosted us with @SOLASFET @barryprost @CityofDublinETB @ddletb and to all the #SME’s who engaged thank you #YearOfSkills @Postvox An Post Commerce are delighted to partner with @SFA_Irl on their Annual Lunch.

As Ireland’s most reputable delivery company, we are committed to celebrating SMEs and supporting businesses of all sizes.

Talk to us today at commerce@anpost.ie for expert advice. #SFA @IrishWater Congratulations to Paris Texas Bar for completing our Water Stewardship for SMEs Programme, in partnership with @SFA_Irl . Are you a small business owner looking to boost your sustainability initiatives, join our SME Water-Saving Champions? See http://water.ie/ conservation/business/ water-stewardship/ for more.

@SFA_IRL

CHILD PATHS NOMINATED IN UK AWARDS SFA member Child Paths has been named one of the finalists in the UK National NMT Nursery Awards, in the category of ‘Technology Product of the Year 2023’. This recognition isn’t just an accolade for the company, but a testament to the hard work and innovation that comes out of Ireland. As the nation’s leading early years software, the organisation’s commitment has always been to provide top-tier, comprehensive solutions for educators, children and parents. Being acknowledged in the UK further cements the Irish company’s position as a frontrunner in the industry. Stay tuned as this company continue to push boundaries and drive excellence in the world of early years education.

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News  Updates

JOBS

“Small firms are the backbone of the Irish economy, employing under half the private sector. Budget 2024 doesn’t recognise the cost pressures business owners will be under next year.”

David Broderick, SFA Director, responding to Budget 2024

“The response to the awards programme is a reminder that Irish small companies are resilient, putting their best foot forward and seeking recognition for their efforts.”

Sue O’Neill, Chair of the SFA Awards Judging Panel, announcing the Awards finalists

“SFA provides members with an informed perspective on industry and regulatory issues through its HR hotline, webinars, in-person events ezine and Better Business magazine.”

Geraldine Magnier, SFA Chair, speaking at the SFA Annual Lunch

SAVINGS AND INVESTMENT

LOANS FOR MICRO ENTERPRISES IMPACTED BY FLOOD DAMAGE If your business has been impacted by the recent floods, you may be eligible for a loan from Microfinance Ireland.

To be eligible to apply, you must fulfil the following criteria:

■ Your business has fewer than 10 full time employees over the last 3 years

■ Your business has an annual turnover of less than €2,000,000

■ Your business has experienced difficulty in securing a loan from the banks ■ Your business has suffered damage due to the recent floods.

Sole traders, limited companies or partnerships are eligible to apply.

There are no fees or hidden charges on any loans from Microfinance Ireland.

Fixed repayments give you peace of mind and let you plan your finance commitments.

Product Features

■ Fixed interest rate of 5.5% APR ■ Loans from €2,000 to €25,000 ■ 5 year maximum term ■ Up to 6 months full repayment moratorium – full principal and interest payments commence at the end of the agreed repayment moratorium period ■ No fees/no hidden costs ■ You may be eligible for free mentoring if deemed appropriate.

Visit https://microfinanceireland.ie/ flood-relief-loan-scheme/ for more information

SAOL TO CREATE 26 FULL-TIME JOBS SAOL, a new workplace wellbeing platform set up by three-time Irish Olympian Derval O’Rourke and her business partner Greg O’Gorman, has secured €200,000 funding from Enterprise Ireland.

The €200,000 investment is part of an initial seed funding round of €400,000 that will fund the cost of the business plan and internationalisation and is projecting the creation of 26 full-time jobs by the end of 2026. The Enterprise Ireland investment will also be used to expand SAOL to a global market. The SAOL platform brings employers and employees together and creates a supportive and inclusive community.

They will benefit from a range of live classes and events with expert coaches, programmes and challenges which will help them improve their wellbeing and self-confidence. Derval and Greg have been running the innovative Derval.ie for five years. However, after the workplace changes brought about as a result of Covid, they wanted to create something that would allow employers to offer their employees a place to better connect and take care of their wellbeing.

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Updates  News

STATUTORY LEAVE

CLIMEACTION ATTAINS B CORP CERTIFICATION Climeaction, a climate action solutions provider based in Cork city, has announced its successful achievement of B Corp Certification, becoming the 27th Irish company to join the global B Corp community. Climeaction partners with businesses to reduce emissions, cut costs and enhance overall ESG performance. The company boasts an impressive track record of working with over 400 customers from micro to mega, leveraging a cumulative experience of more than 100 years in the field of climate action. Paul Murphy, CEO of Climeaction, said: ‘The certification process was very thorough, even for us as consultants, needing to provide significant detail and documentation to verify our answers to the B-Impact assessment. B Corp certification provided us with a framework to develop our business to be the best that we can be and with our score of 123.5, this has been externally validated as being far above the minimum requirements of the already rigorous certification expectations. However, it’s not about scores – it’s about shifting the way business operates – rethinking how to create positive impact while still making profits. By achieving this certification, we aim to demonstrate to our customers, employees, future hires and the wider industry, that we are authentic in our approach to creating a positive impact for our key stakeholders.”

DOUBLE WIN FOR PATH Path Strategic Design (path.ie) won the Website Design and Universal Design categories at the IDI Design Awards 2023. The company received recognition for Design Excellence in Web Design and its commitment to accessibility and sustainability. Path’s work for BusinesstoArts.ie won Best Website Design and Co-Art.eu won for Universal Design. This year Sustainable Design was added as criteria, recognising that to achieve excellence, design must be sustainable in how it is devised and delivered. Both of Path’s winning projects embedded principles of sustainable design, with the jury commenting “the website is rated as amazing when it comes to its carbon footprint.” The annual IDI Design Awards, run by the Institute of Irish Designers in Ireland, celebrates the quality of contemporary Irish design. Judged by an international panel of industry leaders, it ensures Irish design is awarded an international standard.

STATUTORY DOMESTIC VIOLENCE LEAVE The Government of Ireland has introduced domestic violence leave under the Work Life Balance and Miscellaneous Provisions Act 2023. Since 27 November 2023, it has become a legal requirement for employers to offer up to five days of paid leave over a period of 12 months to employees affected by domestic violence.

The employee is to be paid the normal pay for those days. To implement domestic violence leave effectively, it is recommended that employers embed this support measure within a wider organisational response to domestic abuse, outlined in a workplace domestic violence policy.

The policy offers clarity and support to both employers and co-workers in responding to the needs of an employee subjected to domestic violence.

To find information, resources and training on implementing domestic violence leave effectively, visit Women’s Aid where you will find: Policy Template Workplace Supports for Employees Affected by Domestic Violence Guidance Note Workplace Supports for Employees Affected by Domestic Violence Free information sessions for employers to support the implementation of this legislation.

It is recommended that all employers attend the free information sessions run by Women’s Aid, in partnership with Talbot Pierce.

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Green skills for a sustainable future • Develop new skills in your team • Green your business for cost savings, competitiveness and profitability • Access highly subsidised flexible training boost skills – boost business Contact your local Education and Training Board or visit skillstoadvance.ie

learning works

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Updates  News

IBEC FORECASTING PERIOD OF SLOWDOWN

Francis O’Haire, Group Chief Technology Officer, DataSolutions

DataSolutions launches ‘Amplify’

DataSolutions, a Climb company and specialist distributor of innovative IT solutions, has launched ‘Amplify’, a new programme developed to accelerate growth for vendors looking to establish or further expand their presence in Ireland and the UK. Over the next six to 12 months, DataSolutions will enable access to its network of more than 700 resellers, partners and MSPs – including the Top 100 VARs in the Irish and UK markets – for at least 10 new vendors, providing support and resources to expand distribution channels and drive business growth. Through the programme and driven by DataSolutions’ 30-plus years of experience in the industry, vendors will be better equipped to identify business opportunities, attract customers and maximise sales in the region. Amplify will see DataSolutions grow its vendor portfolio; the company has already secured agreements with Flexxible, a provider of automation, observability and management for hybrid digital workspaces and Jscrambler, which develops a monitoring framework to safeguard client-side applications. Francis O’Haire, Group Chief Technology Officer, DataSolutions, a Climb company, said: “As a business, we are growing and are eager to further expand our vendor portfolio. From emerging to established vendors, we are looking for ambitious companies that want to expand their reach, delivering innovative technologies to a much wider audience.”

Ibec’s Q4 Economic Outlook forecasts growth in domestic demand of 2.3% in 2024 and 3% in 2025. The Outlook says that we are now entering a period of slower growth and business consolidation, following a period of unprecedented expansion for the Irish export base and labour market. This change in trend has been driven by global economic conditions and is reflected in falling goods exports (down 6% year to date) and slowing investment (-4% in 2023). Ibec says that the softening global picture will have an impact on the economy and is already being reflected in growing concern amongst Ibec members about competitiveness. Falling goods exports and slowing investment levels are two symptoms of the global slowdown which will persist in 2024. The full squeeze of higher interest rates on consumers and businesses is also yet to be absorbed. Following a spectacular four years, we are now entering a period of consolidation where those gains are not reversed but businesses will have a much greater focus on competitiveness.

HCS LAUNCHES NEW PRODUCTIVITY DIVISION

Mick Brown, Head of Digital Transformation and Biz Apps, HCS

HCS, an IT and cybersecurity services company, has announced plans to grow its international business with the launch of its new Productivity Division. HCS is consolidating its specialist offering and deep expertise in digital transformation services to launch this dedicated division which will boost productivity for customers. The new division is being launched in the Irish and UK markets, with the UK launch supported by Enterprise Ireland. HCS will create eight jobs within the specialised team in the first year, primarily in software development. Mick Brown has joined HCS as Head of Digital Transformation and Biz Apps and will spearhead the new division. The HCS team will design and implement tailored digital transformation solutions that align with the specific business requirements of each customer in order to deliver maximum value and impact.

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Bank Loan  Finance

On the

SECURING A BANK LOAN FOR A SMALL BUSINESS REQUIRES CAREFUL PREPARATION AND PRESENTATION. BETTER BUSINESS SPEAKS TO TWO EXPERTS FOR VALUABLE INSIGHTS TO INCREASE YOUR CHANCES OF GETTING A BANK LOAN AND THE NEXT STEPS TO TAKE IF YOU’RE REFUSED

money Catherine Collins is Head of Credit Review, the Government-backed agency which assists potentially viable SMEs and farms to access bank finance by reviewing loan refusals and providing an independent appeals process. Greg Hogan is a Corporate Finance Partner at Azets Ireland, a financial advisory firm with 100 colleagues across two offices in Dublin and Enniscorthy and a global team of 7,500 people.

DETERMINE YOUR NEEDS According to Hogan, understanding your financial needs will guide what funding options you look for, from an overdraft for working capital, to a commercial mortgage.

“Depending on what you need the money for or what you want to do, it will dictate what funding you need and should be going after.” There may be instances where, for example, invoice discounting would be a more suitable option.

ASK FOR HELP Having a solid business plan and effective financial controls in place is key to getting a business loan.

However, some small business owners may feel out of their depth and going to a financial advisory to work through the process might be what they need. Although Credit Review is intended as a last resort, it has a helpline and Catherine Collins says, “People can ring us and sometimes they’ll ring us before they ever go through the process, just to get a view on that.”

Catherine Collins, Head, Credit Review

Greg Hogan, Corporate Finance Partner, Azets Ireland

BE PREPARED FOR AUTOMATION

THINK ABOUT MONEY

The fact that many applications are now reviewed by automated processes and dealt with through call centres is an adjustment for a lot of borrowers who are used to dealing with friendly bank managers, says Collins.

“The first piece for me, when I’m talking to clients, is how they think about money,” says Greg Hogan, Corporate Finance Partner at Azets Ireland. The first questions he asks are: What sort of financial controls are in the business? Is there effective financial management? Ultimately, the recovery of many of these businesses will depend on the outstanding people that they have working with them.”

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Finance  Bank Loan

MAKE A FORMAL APPLICATION Although popping into the bank and meeting someone is becoming less common as machines take over, Collins notes that sometimes this does still happen and people get discouraged at this stage. “They’re getting what we call a ‘soft no’.” However, she advises preparing a proper application. “It hasn’t actually been assessed by credit; you don’t really get any useful feedback from the bank as to what might improve your case.”

LOOK BACK AND FORWARD “The bank will only score what’s in front of them,” says Collins. “If you have the last three years of accounts, a lot of that is going to be Covid-related.” If that wasn’t the best time for your business, it’s important to help the lender understand your future potential. “If you don’t provide projections, they can’t see how your business is going to improve. And very often, if you’re going in looking for a loan, you’re looking to do something that’s going to add value to your business or increase your capacity or in some way allow you to get new and better contracts.” In essence: show them how you’ll use their money to make more money.

BE CONCISE At the end of the day what lenders are most interested in is getting their money (plus interest) back. “You have to demonstrate you’re going to be able to repay your loans,” says Collins. “That needs to be good clear information.

There’s no point giving them a big tome all about your business, when actually they just want to see what your figures are. How are you going to make those repayments?

Make it clear and concise and easy for them to say yes.”

GATHER ALL THE NECESSARY INFORMATION One of the most common reasons for a loan application being turned down is that it’s lacking information. Collins says: “Maybe the borrower hasn’t provided all the information that the bank needs to make the case. And sometimes there’s a lack of communication between the two of them; the borrower might think they’ve sent everything in and quite often, we’re in the bank and the bank says no, we’re still waiting for some information.”

KNOW THE DIFFERENCE BETWEEN PROFIT AND CASH Hogan says: “Within the financial projections, really what we’re looking at is the cash flows of the business. For every one euro of sales, what is that converting into cash? Profit and cash are two totally different things. You can be making profit but losing on the cash side if you’re not converting it to cash because you’ve got to spend it on capital investment or debt interest.” The strain of servicing existing debt requirements will impact your ability to get a loan. This is why EBITDA calculations are such an important metric in financial analysis - “In most companies EBITDA is a good proxy for cash.”

BE REALISTIC WITH PROJECTIONS Collins says she has seen sets of projections where businesses have projected an inability to repay the loan – little wonder they were refused. On the flipside, figures that are “too rosy” can make the lender think you don’t need the money. “You need to demonstrate viability and ability to repay and you also need to demonstrate the need for the money.”

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Bank Loan  Finance

REMEMBER HIDDEN EXTRAS Don’t forget to factor in the extra costs and conditions that may apply. Hogan says: “We try and get term sheets from the banks.

We would then review those term sheets and advise the client on what we think is the best one to go with. We’re bringing into that the financial side of it, which is the cost of obtaining, cost of servicing and the cost of repaying, but we’re also looking at the conditions of the loan and how onerous they are. Are they looking for monthly management accounts or quarterly management accounts?”

PERFORM SENSITIVITY ANALYSIS To really drill down into projections, Hogan suggests running the figures under a couple of different scenarios. “Your sensitivity analysis is looking at the projections and it’s saying, what if? The sales that you’re projecting - what if you only achieve 70% of those?

What’s the impact on the cash flows?” Hogan says there are two aspects to the role Azets plays for its clients here - they’ll also talk to the different banks and plug in the varying rates being offered to the financial models to see what the best option is for their clients.

ASK FOR EXACTLY WHAT YOU NEED Collins warns against taking a “horse trading” attitude to requesting a loan – for example, asking for €100,000 when you really need €60,000. It’s not a question of bargaining the lender down. “Those days are gone; we’re into automation and autodecisioning,” she says. “You need to go in and put your best foot forward.”

BRING SOMETHING TO THE TABLE “The bank doesn’t ever want to take all of the risk,” says Collins. “Sweat equity”, in other words, your commitment to hard work, is not tangible enough. “They want to see some financial contribution in most cases.” She has seen many cases where loans are refused on risk, but if the borrower had come to the table putting up some money, they could have been successful. “But those conversations don’t happen when you’re into auto-decisioning, so you need to be pre-emptive.”

APPEAL AGAIN WITH CREDIT REVIEW If in doubt, outsource to an expert - Credit Review does this day in, day out and has built up relationships with participating banks. It charges a very nominal fee (from €100 to a maximum of €250) for its services. “The difference is the richness of information we get back.

When banks are formally refusing people, a lot of them give a generic letter,” says Collins. “When we actually get into process, we get that really rich, full information that’s case specific.”

APPEAL WITH THE BANK FIRST A first appeal with the bank is free. Appeals directly to banks are frequently successful. “It does give you a chance to get that overturned or maybe a loan with new conditions,” says Collins. “They overturn about 20-25% of their own appeals. You have nothing to lose by appealing with the bank.”

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02/02/2024 10:22

Feature  David Broderick

THE NEW DIRECTOR OF THE SMALL FIRMS ASSOCIATION ON BEING THE VOICE FOR SMALL BUSINESSES IN IRELAND AND CONVEYING THE CONCERNS OF ITS MEMBERS TO GOVERNMENT

The voice of

small business D

avid Broderick, the new Director at the Small Firms Association, has small business in his blood. He grew up in the family business which his mother started in the basement of their house and which now operates in 30 countries worldwide. David’s career with Ibec began several years ago when he held roles including Senior Account Executive and Manager of the Global Graduate programme. After leaving Ibec, he worked in senior commercial roles in Cafico International, Zendesk and most recently, MarketStar. Now, he’s at the helm of the SFA, representing small business in Ireland, something he’s truly passionate about. “I always said that if and when I came back to Ibec, it would be to hopefully take up this role. I’ve always been passionate about small business and now I have

a job that represents small business. I really enjoy coming into work every day and for that, I’m grateful,” says David.

Resilience is a trait shared by small businesses across Ireland, says David, but there is an element of weariness amongst small firms as they grapple with rising business costs. “Small businesses have come through Covid, they’re dealing with the knockon effects of global wars and the energy crisis and going into 2024, they will now be forced to deal with further increased business costs, imposed by Government. I would say that going into 2024, small businesses in Ireland are certainly viable and resilient, but also vulnerable in the face of the challenges ahead.” Cashflow is an issue, as is time management.

“The increase in minimum wage, statutory sick pay and auto-enrolment will all impact cashflow, but it’s also the time spent implementing these changes that will affect small businesses. Larger companies can outsource them but in a small firm, the owner is often the MD, the sales director and the head of HR. That time management piece is something they’re certainly struggling with.”

Debt warehousing is also coming down the tracks.

In the new year, the SFA is holding a webinar in association with Revenue to help small business get to

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David Broderick  Feature

David Broderick, Director, Small Firms Association

When it comes to reliefs for small business owners, Budget 2024 didn’t go far enough. The SFA strongly advocated for a reduction in Capital Gains Tax and transition supports for small firms who will struggle with the introduction of the living wage. “We feel that Budget 2024 was a missed opportunity. It wasn’t targeted enough to those who need it most. For several years now, we’ve been saying that changes to the Capital Gains Tax are desperately needed. In Ireland, we pay the fourth highest Capital Gains Tax in Europe so we were very disappointed to not see any changes there.”

With recruitment and retention hitting small businesses the hardest, creative thinking around staffing for small firms is also required. “Budget 2024 also missed a trick in that regard. The Small Business exemption could have been increased, perhaps the Government could have implemented an international training fund whereby companies would be reimbursed for putting people on training programmes. It certainly didn’t recognise the cost pressures business owners are under.”

Training and mentoring are areas the SFA excels in. The MentorsWork programme, a free 12-week business mentoring and support programme designed specifically for small businesses, has been a huge success for the Association. “It gives a business owner that headspace to take their head

“I’VE ALWAYS BEEN PASSIONATE ABOUT SMALL BUSINESS AND NOW I HAVE A JOB THAT REPRESENTS SMALL BUSINESS. I REALLY ENJOY COMING INTO WORK EVERY DAY AND FOR THAT, I’M GRATEFUL.” grips with the Scheme. “Regardless of their situation, small firms need to engage with Revenue. It’s very open to facilitating payment plans for businesses that are struggling. My advice to anyone that hasn’t engaged with Revenue yet is to do so; the SFA can facilitate that communication.”

Many small firms in Ireland pay their staff above the minimum wage. “If they didn’t, they just wouldn’t get the staff. So they’re paying above the minimum wage, based on staff productivity. The concern is that the mandated minimum wage increase won’t just push up the wage scale; it could blow the whole thing up.” Small business owners have their staff ’s best interests at heart, says David. “They want to do what’s right by them, that’s something I hear time and time again. But with all the increased costs coming down the line, there’s just nowhere to go. Small firms can’t push this cost onto customers, as they’ll simply lose them. So who’s going to foot the bill? Once again, it’s going to be the small business owner.”

up for five minutes and speak to someone within the industry. So far, we’ve trained over 3000 individuals and over 900 companies. It’s a model that works and one that Government could learn from.”

As Director at the SFA, David’s ambition is to be the voice of small business to Government.

“Already, they’re probably sick of listening to me and I think that’s a great thing. I’m in front of various Ministers several times a week, ensuring that the concerns and needs of small business are heard.” Small firms are the backbone of the Irish economy, employing under half the private sector.

In 2024, small business should be at the forefront of every party’s manifesto. “That will hopefully set us up for success for the next four years, regardless of what party is in Government. I also want to assure small firms that the SFA is always at the top table conveying the concerns of small business and will remain in that position.”

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02/02/2024 10:29

Events  The Year In Review

THE YEAR IN REVIEW

2023 WAS FULL OF GREAT EVENTS THAT BROUGHT INSIGHTFUL, ON-HAND INFORMATION TO SMALL BUSINESSES

n Business Connect 8 February 2023

On 8 February, the SFA brought together over 200 small and large businesses at the Aviva Stadium for our annual Business Connect conference, hosted

by Richard Curran. This annual marketplace event provides a platform for small businesses to learn how they can win contracts with larger companies and how to position themselves correctly to deliver value.

The first session of the day was ‘Circularity Through the Supply Chain’ with Gillian Shields, Customer Sustainability Partnership Manager, Coca Cola HBC IOI; Brendan Palmer, CEO, Chevron Environmental; Eamonn Donlyn, Founder, Darwin & Goliath; and Ingrid Doncker, Co-Founder, Future Planet. On the ‘Business Processes - Innovation’ session, we heard from Steve Halpin, Owner, Lean Teams; Rohit Thakral, CEO, Target Integration and Joyce Rigby Jones, Joint Managing Director, Voltedge. For the final session of the day, we explored ‘New Markets, New Opportunities’ with Richard Maynes, Global Head of Fashion and Accessories, Aer Rianta International; Enda McDonnell, Regional Director, Dublin, Enterprise Ireland; Darren Fortune, CEO, Ventac and Troy Lavin, Managing Director, VitHit. Our keynote speaker was Paul McNeive, customer service expert, business advisor, double amputee and author of business book “Small Steps: Everything is Possible”. Paul spoke about customer service and the importance of making your customers feel special.

As well as plenty of networking opportunities available on the day, delegates got to see the best in small business from the SFA National Small Business Awards 2023 who exhibited along with awards sponsors and partners. Aiming to get closer to all small businesses in the country, next year, Business Connect will take place at the Killashee Hotel in Naas, Co. Kildare.

Seize the opportunity at Business Connect Where Growth Meets Opportunity! Register today at sfa.ie/events

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02/02/2024 10:32

The Year In Review  Events

SFA EVENTS n SFA National Small Business

Awards Gala 09 March 2023 The 19th Annual SFA National Small Business Awards Gala took place at the RDS. The event celebrated the best small businesses in Ireland where our overall winner, Moffet Automated Storage along with the other nine category winners, were announced. A full list of 2023 winners can be found at www.

SFAAwards.ie

n Launch of 2024

National Small Business Awards 7 September 2023 In September, we launched the 20th Annual SFA National Small Business Awards with the help of An Taoiseach Leo Varadkar at Government Buildings.

We are delighted to have announced our finalists for the 2024 Awards programme, and you can find the full list of companies on www.SFAAwards.ie

DATES FOR YOUR DIARY 2024

TO REGISTER, VISIT WWW.SFA.IE/EVENTS AND KEEP AN EYE ON MORE UPCOMING EVENTS

n March SFA National Small Business Awards Gala, RDS n Early September Launch of the SFA National Small Business Awards 2025 n 8 November SFA Annual Lunch n Early December SFA Christmas Evening

n SFA Annual Lunch

24 November 2023 The SFA Annual Lunch took place in the Round Room at the Mansion House. The Annual Lunch is the primary social event for small businesses in Ireland and an excellent opportunity to come together and network in a relaxed environment. Our guest speaker this year was the legendary Ireland rugby captain Johnny Sexton. Johnny inspired the over 400 small business leaders in the room with words on leadership and resilience.

n SFA Christmas Evening

5 December 2023 The SFA Christmas Evening is a casual networking event and we were delighted to have Tom Lyons join us for a fireside chat. Tom is the CEO of The Currency, Ireland's leading business, finance, economics and public policy online publication and one of Ireland’s most decorated journalists. He was joined by SFA Director, David Broderick, for a chat on the economic landscape for businesses in 2024.

n Other SFA in-person

events in 2023 Smaller events worth mentioning are our meeting with the Central Bank in June, where attendees had a hearty roundtable with Vasileios Madouros, Deputy Governor, Monetary and Financial Stability at the Central Bank of Ireland, on the current economic environment, challenges and opportunities facing entrepreneurs and small business owners. For our B2B and Networking in September, we had the pleasure of hearing from Niall McKeown, Founder and CEO of Ionology, who brought insightful information on how to reposition your business in the digital economy. We were delighted to partner with Azets in September for “Planning for Growth How to Manage Margins, Navigate Tax Changes and Extract Value from Your Small Business in 2024” that brought hands-on tips and trick from business leaders on how they achieved growth in a very engaging session. We also had a delightful event in Cork, this time in partnership with AIB. “How to Manage Costs & Increase Productivity in a Sustainable Manner” gave small business in the Munster region the opportunity to meet for a breakfast event and hear from Mike McGrath, CEO and Co-Founder, Kwayga.com and John McGeown, Sector Head, AIB Capital Markets on how sustainable actions can economically help businesses.

n Webinars and Virtual Seminars

In 2023 we have also provided a variety of webinars, covering timely topics such as sustainability, diversity & inclusion, cybersecurity, upskilling programs and tax-focused webinars with different speakers that brought their expertise to the table every time. Our Employment Law Autumn Webinar Series also brought crucial information on HR topics such as dismissal and probationary period management.

We are planning our calendar for 2024; make sure you keep an eye on our events schedule at www.sfa.ie/events and follow us on LinkedIn and Instagram @sfa_irl SFA | BETTER BUSINESS 17

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08/02/2024 14:04

Sector Spotlight  Competing on a world stage

Competing on A

world stage

IN A COUNTRY AS SMALL AS IRELAND, EXPORTING IS OFTEN A LIFELINE FOR SMALL BUSINESSES. BETTER BUSINESS SPEAKS TO TWO IRISH FIRMS ABOUT THE CHALLENGES AND OPPORTUNITIES ASSOCIATED WITH THE WORLD OF EXPORTING 18 SFA | BETTER BUSINESS

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Competing on a world stage  Sector Spotlight

As a small island with a finite market in terms of population, export is hugely important.

It’s fuelled by global demand for all sorts of goods produced here – everything from Kerrygold butter to the Pfizer Covid vaccine. It’s also a lifeline for small businesses to sell their goods and services on a world stage.

While exports see seasonal peaks and troughs, overall, it remains largely consistent that the bulk of Irish exports go to EU countries, followed by the US, then ‘rest of world’ and then the UK. Looking at the latest available figures released in November, Ciarán Counihan, Statistician in the International Trade in Goods Division of the CSO, says: “Comparing the first nine months of 2023 with the same period in 2022, exports of goods were down 6%.” Those exports, for the first nine months of 2023, totalled €149 billion, down €9.7 billion on the same period in 2022, with a drop-off of 15% in exports to the US. Much of this can be attributed to a correction from the drop-off in demand for Covid vaccines, which had created a boost in exports within the pharma sector. Wars and instability, the rising cost of living and persistently high inflation in major economies has also curbed consumer purchasing decisions around the world.

In more positive news, exports to our nearest trading partner, Great Britain, for January to September 2023 increased by 8%, up to €13,844 million when compared to the first nine months of 2022. A recent report from Ibec, launched in November, outlined key priorities for Irish and EU trade and investment. At the core of Ibec’s objectives is a commitment to openness as the driving force behind the EU’s position as the world’s largest trader of goods and services, calling for a rules-based digital trade framework and remaining open to foreign direct investment at both EU and global levels to enhance European economies.

It also stressed the need for the EU to advocate strongly for a reformed World Trade Organization (WTO), recognising the significance of WTO rules and tariffs in nearly 60% of EU trade and underscored the vital role of bilateral trade agreements as key tools for the EU’s security, resilience and prosperity.

BETTER BUSINESS SPOKE TO ONE SEASONED EXPORTER AND ONE NEW ENTRANT TO THE MARKET TO SEE HOW THEY’RE DEALING WITH THE CURRENT CONDITIONS, LESSONS LEARNED AND FUTURE PLANS VOYA Mark Walton co-founded Voya, a range of luxury organic seaweedbased products, with his wife Kira. Seaweed is the family business, with his brother Neil running the famous seaweed baths in Strandhill, Co Sligo. It all started when their late father Michael sought the harvesting license for wild seaweed on the west coast of Ireland, to use it to fertilise his crops. The Voya range now incorporates 50 products, for home and professional spa use, ranging from face creams to organic teas. The brand has been exporting since its first year in business, first to the US and then the UK. With over 20 years of export experience under his belt, Walton likens the peaks and troughs to looking at the equalizer bars on a stereo go up and down. The lesson he has learned from all those ups and downs is not to be too dependent on any one market. “We’ve put a lot of energy into entering as many markets as possible and we’ve always taken opportunities as they arose. I think that’s one of the reasons why we have survived,” he says, compared to other great Irish brands that didn’t make it.

Mark Walton, Co-Founder, Voya

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Sector Spotlight  Competing on a world stage

Top Irish Exports Medical & Pharmaceutical Products Organic Chemicals, Professional Scientific & Controlling Apparatus

Top Services Exported Financial Services Computer Services Business Services

Top EU Trading Partners Germany Belgium Netherlands

“I’ve been through two recessions now and as recessions hit, they don’t tend to hit all markets equally at the same time. It tends to be a wave effect, so you can still be trading quite well in some countries while not in others.”

He suspects Voya spends comparatively more money than others on entering new markets, but even now, finds it can be unpredictable. They’ve done better than expected in some and not as well as expected in others.

“We’ve actually grown in the last two years since Brexit in the UK,” he says, adding, “Maybe a lot of brands just left that market because it was too much hassle, especially at the initial stages. It was so stressful getting products in there.” Exporting to over 40 countries is helped by some very high-end partnerships - Waldorf Astoria, Ritz Carlton and Four Seasons hotel groups have helped the brand position itself at the upper end of the market. “As they open up new properties, they would get in touch with us as we’re an approved vendor.”

Walton says a lot of companies won’t make the investment to supply into a market for just one hotel property, but Voya takes the attitude that it’s a launchpad. “As we get older, we’re trying to get more continuity and we’re more strategic in relation to our spend to get a better return on the market.”

He points to China and Middle Eastern countries as having very high costs to entry and this can mean taking a longer-term view: “But the goal is by year three to start making some serious money in that market and then go on from there.”

“I’VE BEEN THROUGH TWO RECESSIONS NOW AND AS RECESSIONS HIT, THEY DON’T TEND TO HIT ALL MARKETS EQUALLY AT THE SAME TIME.”

Will Hogan, lecturer in Entrepreneurship and Innovation at UL, Business Growth Advisor for Enterprise Ireland and CEO, EccoSpray

ECCOSPRAY As a lecturer in Entrepreneurship and Innovation at UL and a Business Growth Advisor for Enterprise Ireland, Will Hogan has got the theory down but now he’s putting it into practice, after co-founding a business with two German partners. Their first product is ready to launch, after a long pandemic-related delay, and they are ready to start their export journey.

EccoSpray POCUS Spray is a patented formulation spray which replaces traditional ultrasound gel.

POCUS stands for point of care ultrasonography - an ultrasound which can take place at a patient’s bedside or in emergency settings and is gaining in popularity for ease and speeding up diagnoses. This ‘on-the-go’ use case is important to understand to see the potential market for the spray. It’s smaller, lighter and less messy - the bottle can fit in the pocket of a clinician’s scrubs and they don’t need a giant roll of paper towels to clean up messy gel.

“We knew from the start it was going to be in a regulated space,” says Hogan. “Medtech has different classes and we were lucky enough that the product we had was class one, so it was probably the least regulated, but we still had to do a lot of homework and get approval.”

Getting that approval was crucial before investing too much time and money on the launch: “You couldn’t do anything until the approval was granted, because it would have been a risk spending money in too much uncertainty, so market research is key to everything that we were doing.”

Although the inventors of the product are German, they partnered with Hogan to set up here because of the supportive start-up environment. “The ecosystem is more friendly, less convoluted and less bureaucratic starting a business.”

It is a truly pan-European start-up with manufacturing in Romania and some warehousing and logistics in Germany. Hogan soon found out that you can’t post liquids from Ireland when he tried to send some samples out in the post. “There are some logistics that have to be overcome,” he says. The cost of couriers was an unexpected cost for a team that have been self-financing and working for free to get the company off the ground - albeit with the expectation of a great return for their efforts.

As a medtech product, tracking goods is hugely important in case a recall is required. “We have to know where the product is; it’s not like regular distribution…

There’s an extra expense attached to that, which adds to the cost of product because you have to build it in.”

Based out of Galway, at the heart of the medtech cluster, Hogan says this is where all the management decisions will be made. “Dispatch will be done through Germany and we will eventually hold stock in Ireland, but we’re in a B2B space so we want to find a distributor in Ireland. That will be our model.”

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info@cea.gov.ie www.cea.gov.ie Tabhair cuairt ar ár suíomh gréasáin agus lean muid ar na meáinshóisialta le haghaidh eolas maidir leis an méid seo a leanas:

Visit our website and follow us on social media for information on:

• do chuid dualgas agus oibleagáidí mar stiúrthóir na cuideachta; • do chuid cearta mar bhall den chuideachta / mar scairshealbhóir; • conas gearán, léiriú imní nó nochtadh cosanta a chur faoinár mbráid; agus • deiseanna gairme linn atá ar na bacáin.

• your duties and obligations as a company director; • your rights as a company member / shareholder; • how to submit a complaint, expression of concern or protected disclosure to us; and • upcoming career opportunities with us.

AG CUR ARDCHAIGHDEÁIN D’IOMPAR CORPARÁIDEACH CHUN CINN TRÍ DHLÍ NA GCUIDEACHTAÍ A FHORFHEIDHMIÚ.

PROMOTING HIGH STANDARDS OF CORPORATE BEHAVIOUR THROUGH THE ENFORCEMENT OF COMPANY LAW.

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02/02/2024 10:57

Feature  Workplace Surveillance

Striking a

Balance EMPLOYERS MUST GET THE BALANCE RIGHT BETWEEN WORKPLACE MONITORING AND RESPECTING AN EMPLOYEE’S RIGHT TO PRIVACY, WRITES DEANNA O’CONNOR

Workplace surveillance is not a new concept. CCTV might catch a retail employee dipping their hands in the till. Tachographs are required by law for truck drivers to ensure they take proper breaks from driving. Call centre workers are used to having their calls recorded ‘for training and quality purposes’. However, new and invasive forms of digital surveillance are becoming more common since the pandemic and the rise of remote working, as well as the rise of AI-enabled technologies.

In 2012, Fujitsu announced it had developed an AI model which could determine how much a person is concentrating on a task based on their facial expression, by detecting subtle changes in muscle movement. It also claimed to detect drowsiness and the company expected it would have applications in online classes, online meetings and sales activities. Big Brother is watching you and you’d better not look bored.

Keystroke logging is a common example, where every keystroke entry made on a computer is recorded. This, in theory, provides a record of how much work activity is happening – but without much nuance. It doesn’t account for time spent in Zoom or real-life meetings. It doesn’t allow for research and reading or creative thinking. A monkey with a typewriter could score higher for a day’s activity than a high value, seasoned, strategic thinker who brings enormous value to a company – but happened to come up with some great ideas while they were doodling on a notepad.

An article in the UK newspaper The Guardian earlier this year recounted the story of a worker whose employers had installed monitoring software that snapped a screenshot on her computer every 10 minutes and tracked typing and mouse movements. The upshot of the surveillance meant she would pause the tracker, take a bathroom break or do work such as taking notes on paper so her activity score wouldn’t drop. She felt under so much pressure she had even taken sick leave to catch up on work without being tracked.

As anyone who has ever worked under a micromanaging superior will know, lack of trust and autonomy is not only damaging to morale, but also to productivity. Tracking pure data, even with sophisticated AI, is only tracking one measure without looking at quality.

According to a 2023 report by the Institute for Public Policy Research (IPPR) in the UK, evidence shows that excessive surveillance can harm workers’ wellbeing, increase staff turnover and lead to counterproductive work behaviours such as company sabotage. The IPPR report also notes that if employees don’t have access to the data collected through monitoring, it gives employers an unfair advantage in negotiations and performance conversations.

Emma Richmond is a Partner at leading law firm Whitney Moore LLP. She says it’s important to get the balance right in an employment context. “An employer has a legitimate interest in protecting their business and at the same time, employees have a reasonable expectation of privacy within the workplace.” Much of the rules governing workplace surveillance come from the General Data Protection Regulation (GDPR).

“That has gone a long way to clarify matters. That effectively says that in order to process personal data – whether that’s people’s names or anything that can identify the person – it has to be lawful, it has to be fair and it has to be transparent.”

Human Rights legislation also applies to this area.

Richmond says: “One of the main cases in this area was brought under the European Convention on Human Rights and that was the case of Bărbulescu v Romania.

An employee was using his personal email in work and he challenged a decision to dismiss him on the basis that it was an infringement on his privacy.”

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Workplace Surveillance  Feature

Richmond says that one of the most common issues that comes up in Ireland is employers’ use of CCTV. “More often than not, their policy will say that the CCTV is for security reasons. When they try to use it for a disciplinary to say that someone wasn’t turning up on time, then they run into issues. It comes back to the point that you have to be transparent about why you’re using the monitoring.”

Before introducing any workplace surveillance, it is good practice to undertake a data protection impact assessment (DPIA). The impact assessment document should outline the nature, scope, context and purposes of any data processing to be undertaken and show that it is necessary, proportionate and in line with GDPR regulations.

Sovy is a company that offers smart compliance tools and expert services, including assisting small businesses to comply with GDPR regulations. Working internationally, their in-house experts have oversight across the different regulatory environments in various geographies, as well as an understanding of how important it is up the supply chain pipeline, where small businesses are working with bigger international clients.

John Popolizio, CEO of Sovy, describes a partnership they have with Trendzact, a technology firm that offers workspace tools for monitoring. “We do all their global compliance for when they do workspace monitoring for their clients. For instance, recently, we implemented a solution for a specialty call centre that had to prove to their contracts that they were doing clean desk.”

This is a great example of where this type of monitoring, which could feel invasive to a worker, is justified by the type of work involved. ‘Clean desk compliance’ generally means that confidential information isn’t left sitting around or visible. Physically this means shredding documents or locking away files or USB sticks, but in the case Sovy worked on, part of the contract involved monitoring to ensure that, for example, any methods or devices which could be used to record sensitive information – from mobile phones to pen and paper – were not being used on the desk, or that no observers could see the screen, which did warrant visual/webcam monitoring. Explaining to employees what is happening and why is key when introducing systems like this, Popolizio underlines.

“There are distinct communication requirements; we counsel clients that they need to be very transparent.”

Interestingly, he has also seen demand for this type of monitoring from the employee side as well. “The flip side of this is we’re seeing employees asking for this, especially given that we have remote hybrid working.

They’re in sensitive jobs – remote workers that are in telehealth, remote workers that are handling sensitive information for clients – and they want to feel protected from being accused of doing something wrong.”

Conor Hendley, Director of Compliance, Sovy, agrees that transparency and openness with employees

Emma Richmond, Partner, Whitney Moore LLP

John Popolizio, CEO, Sovy

“YOU’VE GOT TO DEFINE WHAT WORK MEANS. IS IT OUTPUT OR PRODUCTIVITY?”

Conor Hendley, Director of Compliance, Sovy

is key. He suggests explaining “what the meaningful purpose is for what you are trying to monitor and what you are trying to achieve”. For him, this is crucial to avoid creating worker anxiety or mental health issues.

“It doesn’t have to be invasive,” he says. “You’ve got to define what work means. Is it output or productivity?

Within the workplace, you’ve got to be clear about that.”

FORMS OF WORKPLACE SURVEILLANCE DIGITAL MONITORING

PHYSICAL MONITORING

Keystroke and mouse tracking

Key cards and biometric access

Recording and screenshotting screens

Vehicle monitoring (tachographs, dash cams)

Webcam monitoring

Body cams

Application usage recording

Handheld or wearable devices

Message and email monitoring

GPS and mobile device tracking

Recording phone calls

Physiological tracking eg heart rate monitors

Monitoring social media usage

Drug testing

Calendar monitoring

Bag checks

Source: Adapted from Parkes H (2023) Watching me, watching you: Worker surveillance in the UK after the pandemic, IPPR SFA | BETTER BUSINESS 23

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Advice  Wise Guys

WISE GUYS

SIX INDUSTRY EXPERTS SHARE ONE PERSONAL NUGGET OF ADVICE FOR ASPIRING ENTREPRENEURS.

1

Marketing Jenny Johnston

CEO, Azure Communications Business owners can be very busy – sometimes busy fools. Quick tip: make a table with three columns with these headings – €10 Task/ €100 Task/ €1000 Task.

Under each heading, put down the tasks you have carried out for the last three weeks, then delegate the €10 tasks! This helps to refocus the brain and ensures your time is spent wisely.

2

Climate Action Paul Murphy

Director & Co-Founder, Climeaction Focus on what matters – your purpose. We can all use our business as a force for good. Create a positive impact on your team, customers, community and the planet. Making decisions with purpose and impact in mind results in success and ultimately profits.

Sustainability is not a choice – it’s a business imperative. The time for action is now.

3

Printing James Costello

Managing Director, Label Tech Ltd Success is not just about products and profits – it’s about people, technology and fostering genuine customer relationships.

By prioritising the human element, embracing cutting-edge technology and building meaningful connections with customers, businesses create a foundation for sustainable success. It’s not just about transactions; it’s about the people behind them and the innovative tools that bring them together, paving the way for a thriving future.

There are many definitions, but there’s one thing that all great business leaders agree on, and that’s how success can only come by persevering despite failure.

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Wise Guys  Advice

There are no limits.

There are only plateaus and you must not stay there, you must go beyond them.

4

Accounting Peter Johnson

Partner, Hyland Johnson Keane Figure out where your business is in the market and stick to a realistic marketing plan. Always measure the results of what you’re doing. Keep control of your finances and cashflow and find an accountant who can help you. Setting up a new business is an exciting and challenging time.

Learn from your mistakes and don’t make the same mistake twice.

5

Consultancy Neil Mullaney

Sales and Marketing Director, The Agile Executive The secret of success in sales is understanding the customer. The most successful sales professionals deeply understand their customers’ needs, pain points and preferences.

Strong communication skills are essential, while salespeople who prioritise relationshipbuilding often have a competitive edge. The more knowledgeable you are about your products, the more confidently you can address customer questions and objections.

Bruce Lee Martial Artist and Actor, 1940-1973

6

Not for Profit Fiona McCaffrey Jones Manager, Truagh Spirit Social Enterprise

Always know who your customers are, simple as.

Know your customers, their needs and meet those needs and react when their needs start to change. The social enterprise sector has an advantage over others as we exist where state and private sectors won’t go.

That grassroots customer knowledge base we have makes us more dynamic and indispensable.

and you feel you have some words of wisdom to share with

If you are a business leader he small business community please email info@sfa.ie

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02/02/2024 11:01

Cover Story  Square

SQUARE TAKES THE COMPLEXITY OUT OF RUNNING A BUSINESS. EXECUTIVE DIRECTOR JOHN O’BEIRNE EXPLAINS HOW SOLUTIONS FROM SQUARE CAN GIVE BUSINESS OWNERS TIME TO FOCUS ON WHAT REALLY MATTERS

Fair and

Square 26 SFA | BETTER BUSINESS

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Square  Cover Story

Square is a great place to work.

John O’Beirne, Executive Director, Square, at the Aloft Dublin City

Paul McCarthy

“THERE’S A HOST OF SOLUTIONS AVAILABLE TO BUSINESSES ACROSS ALL INDUSTRIES THAT WILL HELP THEM DO WHAT THEY DO, BUT BETTER.”

That’s not just an opinion; in 2023, the Dublin-headquartered global fintech company was recognised by ‘Great Places to Work’, making it onto the ‘Best Workplaces for Women’ and ‘Best Workplaces in Tech’ lists. Those accolades are, says Square Executive Director John O’Beirne, down to a culture that encourages individuality and creativity amongst its 300 plus employees that hail from all corners of the globe. “I think that’s one of the benefits of having such an internationally diverse workforce; it gives us a real differentiator in the market.

The awards go to the heart of what a strong, positive culture we have at Square and that’s one of the reasons why I was so keen to join the company.”

John took up the role of Executive Director at Square in December 2023. The aim was to get out of his comfort zone and pursue a new challenge in a dynamic, forward-thinking company. Before joining Square, he was Director of Business Banking at Bank of Ireland, a role that centred around giving customers the confidence to invest in their future. “There are some similarities between the two roles as that’s also what we’re doing here at Square. I love the products at Square which at their core, are about economic empowerment and delivering technology that makes things possible. We launched with a full suite of products in 2021 in Ireland. We’ve got a really vibrant community of sellers that continues to grow; I’d be confident that we’re going to continue that high growth trajectory.”

From micro to large companies, Square looks to try and serve all businesses across all industries but small firms remain the backbone of its customer base. ‘They’re the reason Square exists in the first place. Many people will be familiar with the company’s origin story; in 2009 Jim McKelvey lost out on a sale as he couldn’t accept a card payment for a piece of art he had created.

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He connected with his friend Jack Dorsey and together, they created Square with this purpose of economic empowerment. Over the past 15 years, Square has effectively reinvented the market, providing multiple solutions to sellers of all sizes, whether they’re online, offline or if they’ve got multi locations.” Those solutions are varied and growing all the time; just last year, Square launched a solution that allows sellers take contactless payments with just their Android phone. Square Online, an ecommerce platform that lets businesses sell products with built-in inventory management, a point-of-sale (POS) system and the ability to accept payments online, makes online selling simple. “It means businesses don’t have to find a separate solutions provider to build their website for them. With Square, you get a beautiful, predesigned website that you can tailor and customise yourself.

Our customers, whether they’re small or large, are always looking for easier ways to run their business, reduce their costs and get time back to focus on growing their business. With Square’s extensive range of solutions, that’s what we can provide.”

The key focus at Square is to ensure a seller never misses a sale. “There’s a great phrase – it’s complex to make things simple – and I think that’s what we do really well.

The solutions and products that we build and supply are very well integrated. It’s the simplicity of the products that give business leaders and owners the opportunity to work on their business, rather than be stuck in their business.” That simplicity was showcased at an event held late last year for the hospitality industry. Entitled ‘Almost… Christmas’, the event included a cook-off with some of Ireland’s top chefs and a chance for hospitality businesses to learn how Square supports restaurants with table management, digital kitchen tickets management and integrations with the likes of OpenTable. “That event was great in that it gave us an opportunity to showcase how effective our solutions are.

During the dinner, the waiter took orders at each table which then went up on a big screen overhead, through to the kitchen in the back and up on the kitchen display system. It demonstrated just how integrated our products are and how they can simplify how a business is run. We’re not just about simplifying payments; Square is all about taking the complexity out of how you run the business.”

“YOU CAN’T CONTROL THE MACRO-ECONOMIC ENVIRONMENT AND SO THAT MEANS OWNERS ARE LOOKING TO STREAMLINE AND ENHANCE THEIR BUSINESS. THAT’S WHERE SQUARE COMES IN.” Adaptability and resilience are traits shared by small businesses across the country. The challenges facing small firms are always the same says John – finding the right staff, dealing with cash flow issues and getting paid on time. “You can’t control the macro-economic environment and so that means owners are looking to streamline and enhance their business.

That’s where Square comes in. Essentially, we give them back time which otherwise would be spent on more mundane tasks.

We’re in a tough operating environment but I’m continually impressed by our sellers’ ability to navigate the challenges.”

Towards the end of 2023, it was announced that Jack Dorsey would once again take over the reins at Square. His return has brought the company back to its core purpose, says John, which is building really great products. “I think Jack’s return has reminded us of what we do best. His return coincides with the launch of new products and services, due to hit the market this year. I can’t say much about them at this point, but watch this space!”

Small businesses shouldn’t have any fear of technology, says John. “It’s there to help firms grow and develop their business. Just from Square alone, there’s a host of solutions available to businesses across all industries that will help them do what they do, but better.” For 2024 and beyond, John’s ambitions are to grow Square’s international businesses, to innovate and create value in its technology and to continue to build engaged teams across borders. “Square is active in several countries now, including Ireland, the UK, France and Spain. In 2024 and beyond, we intend to deepen and expand our presence.”

Paul McCarthy

Cover Story  Square

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Square  Cover Story

Square Tools T HE SQUARE STAND – Combines built-in payments and a customerdriven checkout in one ipad point of sale system SQUARE FOR

RESTAURANTS – The flexible restaurant POS solution your staff can learn in minutes

S QUARE APPOINTMENTS – Scheduling software for booking, payments and more M OBILE POS WITH MOBILE CARD READERS – Makes accepting card payments fast, flexible and secure with no extra fees or long-term contracts VIRTUAL TERMINAL –

Accept and record payments on your computer

R ETAIL POS WITH CHECKOUT REGISTERS – Free to use, only pay when you accept a payment O NLINE STORE – All-in-one website platform with everything you need to start selling O NLINE INVOICING – A free, all-in-one invoicing software that helps businesses request, track and manage their invoices, estimates and payments from one place John O’Beirne, Executive Director, Square, at the Aloft Dublin City

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Entrepreneurs  Public Relations

Putting thep r Entre eneur IN

FOUR FOUNDERS SHARE THEIR EXPERIENCES, CHALLENGES AND INSIGHTS ON STARTING AND GROWING SUCCESSFUL BUSINESSES IN PR

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ALLAN CHAPMAN Founder and Managing Director, Comit Communications & Marketing

A

marketeer by profession, Allan Chapman worked in various communications and marketing roles with technology companies before going out on his own with Comit, a technology PR and marketing communications agency.

While positions at global giants such as Oracle gave him valuable experience, Chapman points to his time at telesales work experience jobs during college that taught him a skill he believes is underappreciated in PR - picking up the phone and connecting with people.

Funded by what Chapman calls “sweat equity”, including long hours and little holidays, Comit had some key anchor clients from the start, which gave the business a strong foundation. Starting out in an incubation centre in Dublin City but finally moving to a premises of its own in Rathfarnham, Comit today has a team of eight, a mix of PR specialists and former journalists, most of whom have been with the company for years.

Chapman says making Comit the best place to build a career in PR in Ireland has been key to attracting talent. In May 2022, Comit became what Chapman says is Ireland’s first PR agency to innovate a four-day work week for a five-day salary.

“We haven’t looked back since,” he says. “We all love our long weekends and we have bundles of creative energy to bring to our clients.”

Regarding current industry trends, Chapman says clients are increasingly looking to work with specialists who have the right journalist relationships, don’t need to be spoon-fed every story and are comfortable pitching on the client’s behalf. “We are also seeing an increasing overlap between SEO and PR, with digital skills being very much in demand in our world,” he adds.

Public Relations  Entrepreneurs

For anyone considering forging their own path in PR, Chapman advises them to do it, but to do something different. “There’s no point in competing head-on with those there already,” he says. “Also, don’t underestimate how much time goes into building a business. I love what I do, but if you think it might offer a route to an easier life, you’re wrong.”

Chapman stresses that being a founder in PR requires resilience and perseverance. “You also need a very extensive contact book and to be networking savvy,” he says. “You should be adaptable, creative and have a real passion for people and communication.”

For 2024, Comit will further develop its sectoral specialisation of helping clients navigate the business of sustainability and carbon footprint reduction. As a founding steering committee member and communications ambassador for Techies Go Green, a movement of techoriented companies committed to decarbonising their businesses, Chapman is putting his passion into action. “We look forward to unveiling our fantastic plans for Comit’s sustainability division in 2024”, he says. “Watch this space.”

“I LOVE WHAT I DO, BUT IF YOU THINK IT MIGHT OFFER A ROUTE TO AN EASIER LIFE, YOU’RE WRONG.” SFA || BETTER BETTER BUSINESS 31 SFA

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Entrepreneurs  Public Relations

Allan Chapman “I always had an interest in being an entrepreneur, although the foundation of Comit was not really planned.

It just happened that I was in the right place at the right time with an idea for a sectoral specialism in the newly exploding tech space.”

Jim Walsh

or organisations, but I think entrepreneurship is a mindset. And I like to think I have that mindset.”

Martina Quinn “I feel much more conscious now of being the leader of a business, employing people and being responsible for driving future growth.

In that sense, I’m more comfortable now describing myself as an entrepreneur as I would have been five years ago.”

Founder and Executive Chair, Walsh:PR

“Unlike some entrepreneurs, I haven’t set up multiple companies

JIM WALSH

JIM WALSH

Four PR founders on identifying as an entrepreneur

is a firm believer in going with your gut. Forty years ago, in January 1984, he went with his to set up Walsh:PR. Before founding the company, Walsh had studied journalism and worked in printing and publishing, which he says gave him a solid foundation for public relations.

“I didn’t understand it then, but it was great training for PR. I learned a lot about sales, editorial, production and publicity. Obviously it was a risk going out on my own, but thankfully, it paid off.”

According to Walsh, one of the biggest challenges starting out was getting enough business to sustain a core team. He found networking a valuable tool to keep clients coming in and salaries paid. “It’s something I say to people starting out - network as much as possible and make yourself known as someone who can be relied upon.”

Walsh quickly became known in PR circles and benefitted from business referrals.

Throughout his career, he represented the industry at the highest levels as President of the Public Relations Institute of Ireland, Chair of the Public Relations Consultants Association and Global President of IPREX. “I have a dreadful habit of saying yes if anyone asks me to do something,” he says. “But volunteering and putting your hand up pays off.”

Today, Walsh:PR has a team of eight people based in its Dublin office, with additional consultants to call on when needed. It works predominantly with businesses in food, health and sustainability, and NGOs. Walsh says having that focus helps the team provide a premium service.

In 2024, the company plans to mark four decades in business, but how exactly Walsh doesn’t know yet. “When you’re a medium-sized company, you’re so focused on your clients you don’t have much time to devote to yourself, but we’ll mark it somehow,” he says. One goal Walsh has set for the company is expanding its service to include podcasting and video, which it currently provides through third parties.

Although Walsh leaves the day-to-day running of the business to the company MD and others, he remains active and holds the same passion he did from day one. “It’s still there,” he says. And it’s a passion Walsh likes to pass on.

“I regularly encourage young people to go into PR. It’s a great discipline, a great sector for meeting people and you never stop learning. It also teaches you that change is permanent and once you’ve got a mindset to always try something new, good things happen.”

Sharon Bannerton “I think of entrepreneurs as risk-takers; but I always knew I could do this role and deliver the PR and communications services corporates and brands needed.

So, I probably don’t see myself as entrepreneurial in that sense.”

“I REGULARLY ENCOURAGE YOUNG PEOPLE TO GO INTO PR. IT’S A GREAT DISCIPLINE, A GREAT SECTOR FOR MEETING PEOPLE AND YOU NEVER STOP LEARNING.”

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Public Relations  Entrepreneurs

MARTINA QUINN

Founder and Managing Director, Alice PR

Martina Quinn left without any big masterplan except to work for herself for a couple of months. “Very quickly, I got very busy,” she says. “It changed from doing freelance work to realising there was a viable business and I needed to bring other people on board.”

Quinn hired former colleagues on a contract basis to staff the agency during its growth until, in 2016, she made her first permanent hire. Today, that hire is among a team of 20 employed at Alice PR, based at offices in Dublin and Belfast.

While Quinn admits that in the early days the agency tried to be everything to everyone, recent years have seen it hone its area of expertise, taking on clients whose work positively impacts society.

They include the Dillon Quirke Foundation which raises awareness of Sudden Adult Death Syndrome, the Dublin Institute for Advanced Studies, Early Childhood Ireland and Trans Equality Together.

“Choosing to take on these organisations makes for better working relationships,” says Quinn. “It means we’re not trying to stretch ourselves to do something that isn’t a natural fit for us. We’re happier and the client gets better results.”

According to Quinn, it’s a good time to be in PR. The Covid-19 pandemic made more business leaders recognise the importance of investing in communications, creating more demand for PR services. She advises anyone going it alone or growing an agency to surround themselves with people who have the skills they don’t.

“PART OF OUR JOB AS SENIOR COMMUNICATIONS ADVISORS IS TO PUSH BACK AGAINST CLIENTS SOMETIMES AND TELL THEM WHEN THEY’RE DOING SOMETHING WRONG.”

In 2015, after almost a decade of rising through the ranks at a PR agency,

“From the beginning, I placed a lot of importance on investing in HR and getting a really good accountant and financial adviser. They were areas for which I didn’t have the required skills. Having people around you who can give you alternative perspectives to what you hear from PR professionals is really useful too.”

So what about the attributes needed to be an entrepreneur in PR? Quinn says you should be a risk-taker, creative and curious. You also need to be able to tell your client how you see it. “Be genuine and not just a people pleaser,” she says. “Part of our job as senior communications advisors is to push back against clients sometimes and tell them when they’re doing something wrong.”

After eight years of running a successful business, Quinn and her team decided it was time to give something back. In October 2023, Alice PR launched the Alice Academy for Activists, a residential bootcamp to teach aspiring activists how to achieve positive social change through campaigning. “We’ve always provided pro bono support but not in a very coordinated way,” says Quinn. “We’ve received a huge level of interest and look forward to running the bootcamp in January.”

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Entrepreneurs  Public Relations

Following SHARON BANNERTON Owner and Founder, Bannerton PR

an early career in sales, marketing and PR within tech, telecoms and consumer events, as well as founding and selling a small tech start-up, establishing a PR agency seemed the logical next step for Sharon Bannerton.

Like many business owners in the industry, Bannerton started out working from home but as demand for services grew, she hired account managers and opened an office in Dublin. According to Bannerton, starting a business in PR doesn’t require the same levels of funding most other industries do, reducing the barriers to entry.

“You’re selling your communications expertise and counsel. Word-ofmouth has kept the business coming in consistently,” she says.

Today, Bannerton has a strong team behind her, comprising two account managers, an account executive, specialist copywriters and administration and accounts support. “We’re a small business, punching above our weight,” she says. “It is important to work with people you trust and admire for their work ethic and expertise. I have complete confidence in my colleagues.”

Bannerton has seen many changes in the industry throughout the years - not so much in the art of effective PR, but the tools to deliver it. “In my career, the big shift was to digital, which changed the goalposts dramatically.

Suddenly, news and the need for engagement and input was 24/7 and news spread everywhere rapidly, to the extent that it is now totally mobile and follows us around.”

This shift means most brands now need agency support to manage how they are represented in the expansive media horizon in order to grow and protect their business. The other significant shift Bannerton has witnessed is that communications channels clients must engage with podcasts and webinars and the causes they need to take a position on, such as the environment and diversity.

For 2024, Bannerton says it’s business as usual for her agency, working closely with clients on their strategic aims and implementing PR activity.

However, Bannerton PR will continue to become more involved in ‘issues management’ and crisis planning for its clients, a service she believes is much needed now.

“Irish businesses are aware that 24/7 communications platforms and the social media aspect of largely unregulated comment can create as many problems as it solves,” she says. “While PR companies regularly dive in to clarify crisis situations, prepare statements and counsel clients, I would advise any business, large or small, that if they have the right framework in place in the first instance - a communications protocol, boiler-plates and standby statements - then the management of any issue that does arise is much more seamless.”

“IT IS IMPORTANT TO WORK WITH PEOPLE YOU TRUST AND ADMIRE FOR THEIR WORK ETHIC AND EXPERTISE. I HAVE COMPLETE CONFIDENCE IN MY COLLEAGUES.”

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02/02/2024 11:49

Branding  Tips

Gerard Tannam, Founder, Islandbridge

s r u o Y Make r a e Y w e N d a Bran

A STRONG BRAND CAN UP A COMPANY’S COMPETITIVE ADVANTAGE, WRITES GERARD TANNAM Whatever the year, a strong brand is always good for business. It gives you competitive advantage over your competitors by distinguishing you from them in a way that matters to customers and influences the buying choices they make.

Your brand is a vital business tool that influences choice by reflecting the relationship between you and your customers and the value you exchange as a result, while branding is the building of those relationships in the market.

Take these five simple steps to defining and building your brand and make yours a prosperous and brand new year.

1 2 3 4 5

DEFINE THE VALUE YOU WISH TO EXCHANGE WITH YOUR CUSTOMER The value to be exchanged through the brand relationship is not set by one side or the other, but must be agreed between you. The asking price, which you require for the exchange to be profitable, is a useful starting point for defining value. Then you must consider how your customer is likely to rate the benefits you offer, if this accumulated value matches or tops your asking price and whether your customer is likely to pay it.

IDENTIFY AND TARGET YOUR BEST CUSTOMER For your brand relationship to work, it is vital that you carefully choose to target only your ‘best customers’, those invaluable buyers who deliver the greatest benefits to your business.

A business that deals with too broad a mix of customers will struggle to profitably realise the value in many of its transactions. A best customer, on the other hand, will add predictable and significant value to the exchange and deliver the premium you require.

IDENTIFY AND FIX YOUR BEST CUSTOMER’S KEY PROBLEM People buy from other people to fix the key problem they face at that time and to enjoy the benefits that result. Potential customers are more likely to become best customers when they consider that choosing your brand helps them to fix their key problem and delivers them significant value.

IDENTIFY AND FIX BOTH THE PRACTICAL AND SOCIAL DIMENSION OF YOUR CUSTOMER’S KEY PROBLEM Customers make their choice of brand based on both the functional and direct (the practical) benefits it provides, as well as how it makes them feel about themselves and others (the social).

In a competitive market, it’s how you fix the social dimension of your customer’s key problem that adds real value and greater profitability to the transaction.

PROVIDE THE INFORMATION YOUR CUSTOMER REQUIRES TO MAKE THEIR CHOICE When customers are considering what to buy, they’ll search for information to qualify their choice of brand. Make sure that brand assets, such as your website, brochure-ware and sales pitches, provide your customers with all the information they require to make an informed decision around how you help them to fix both the practical and the social dimensions of their problem.

Gerard Tannam is Founder of Islandbridge, a brand planning and strategic development company SFA | BETTER BUSINESS 37

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02/02/2024 12:10

Feature  Irish Investor Awards

Celebrating and recognising excellence in the Irish investor market, the inaugural IRISH INVESTOR AWARDS in association with Mazars will take place this summer

CELEBRATING EXCELLENCE

T

aking place on the 17th of May at Dublin’s iconic Mansion House, the inaugural Irish Investor Awards in association with Mazars will recognise and honour the outstanding achievements, innovation and dedication of individuals and organisations in the financial industry.

With 16 distinct categories, the awards present companies within this sector the opportunity to showcase their expertise and commitment. Whether you’re a rising star or an industry

veteran, we encourage you to enter one or more of our categories and let your accomplishments shine. The closing date for entries is the 23rd of February.

As you embark on this journey, you’ll have the chance to connect with some of the foremost figures in the business world. Being named a finalist means you’ll join other thought leaders, forging valuable connections and inspiring each other to reach new heights. The gala dinner, hosted at the historic Mansion House, will provide an exceptional backdrop for networking, celebration, and well-deserved recognition.

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Irish Investor Awards  Feature

BECOME A SPONSOR Engaging in the Irish Investor Awards will help businesses enhance their presence and reputation within the industry. Industry awards events provide an excellent platform to connect with key players in the investment sectors; they also attract a diverse range of professionals, including investors, entrepreneurs, advisors and other service providers.

Go to www.irishinvestorawards.ie for more information on sponsoring a category at the Irish Investor Awards.

IRISH INVESTOR AWARDS CATEGORIES orporate Finance Advisory C Firm of the Year orporate Law C Firm of the Year eal of the Year D (€2.5m - €10m) Deal of the Year (Sub €2.5m) Deal of the Year > €10m ebt Funding D Deal of the Year > 10m ebt Funding D Deal of the Year <10m

OUR HEADLINE PARTNER Mazars is the headline partner for the 2024 Irish Investor Awards. A leading international audit, tax, advisory and consulting firm, Mazars works as one integrated team, leveraging expertise, scale and cultural understanding to deliver cutting edge services in audit, assurance, tax, consulting, financial advisory, corporate finance and financial outsourcing.

With over 700 staff across offices in Dublin, Galway and Limerick, the Irish firm draws on the expertise of more than 47,000 professionals in over 95 countries to assist major international corporates, SMEs, financial institutions and public bodies achieve their strategic and business goals.

ue Diligence D Team of the Year nvironmental, Social, and E Governance Deal of the Year I nternational PE investment in Irish company Deal of the Year I nternational VC investment in Irish company Deal of the Year I rish Private Equity House of the Year Irish VC House of the Year Lifetime Achievement Portfolio Deal of the Year Rising Star Under 30

DATES TO REMEMBER 23RD FEB

Closing date for entries

17TH MAY

Gala Event in the Mansion House, Dublin 2

Go to www.irishinvestorawards.ie for more information

SFA | BETTER BUSINESS 39

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02/02/2024 12:11

SFA Policy  Smart Regions Enterprise Innovation Scheme

Smart Development REGIONAL ENTERPRISE PLAN CHAIRS WELCOME NEW €145 MILLION SCHEME TO PROMOTE ECONOMIC GROWTH ACROSS ALL REGIONS

Smart Regions Enterprise Innovation Scheme supported under the European Regional Development Fund (ERDF) is aimed at accelerating economic growth in all regions of the country, by working with stakeholders to deliver on their potential regional enterprise strengths, taking an entrepreneurial ecosystem approach aligned with Ireland’s new Smart Specialisation Strategy.

Smart Regions Enterprise Innovation Scheme has an acute focus on enterprise development, consistent with Enterprise Ireland’s strategy to 2024, 'Leading in a Changing World'.

WHO IS IT FOR?

Enterprise Ireland’s Strategy 2022–2024

Regional Development Plans

Smart Regions Scheme

Project Ireland 2040

Rural Development Policy 2021-2025

Smart Specialisation Strategy

DETE Whitepaper on Enterprise 2022-2030

The Smart Regions Enterprise Innovation Scheme will support the development of innovative services through local infrastructure, innovation clusters, services to SME’s and early stage feasibility and priming research.

These projects shall be based on a triple helix model, enterprise led and: C ollaborative in nature I nnovative F inancially viable (must be profitable business propositions in the case of Infrastructure projects) S ustainable F ocused on delivering metrics and key performance indicators (KPIs) which provide additionality to the existing regional infrastructure.

WHAT IS PROVIDED?

The Scheme has four Streams, which shall support the following activities/ projects. The call document is the reference document that provides a detailed description of the call.

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Smart Regions Enterprise Innovation Scheme  SFA Policy

“THE SMART REGIONS ENTERPRISE INNOVATION SCHEME WILL SUPPORT THE DEVELOPMENT OF INNOVATIVE SERVICES.” The scheme, with a total value of €145.3 million, will support: Local infrastructure projects Innovation clusters & consortia Services to SMEs to drive innovation solutions Feasibility and priming grants.

WHAT CAN IT BE USED FOR?

The overall objective of this Scheme is to drive job creation/retention and enterprise development in each region throughout Ireland. In addition, Smart Regions funding is targeted at strategic locations regionally where an identifiable deficit exists in key infrastructure, which is necessary to support the micro and SME client base.

The first call for the Smart Regions Enterprise Innovation Scheme is open for applications and closes on 31 March 2024.

Under a competitive process, applications are now sought for funding under four streams, with varying investment levels, up to €10 million in: Local infrastructure projects Innovation clusters and consortia Services to SMEs to drive innovative solutions Feasibility & priming grants.

Budget 2024 wins for small firms Budget 2024 acknowledged the changing economic climate but unfortunately, it did not go far enough in tackling rising business costs for small firms and ensuring you and your business can remain competitive and stay ahead in a rapidly evolving business environment.

CHANGES OF NOTE: Once-off €250m increased Cost of Business Scheme EII - standardising the investment period to four years for all investments and doubling the amount an investor can claim relief on for four-year investments to €500,000 An increase in the R&D tax credit from 25% to 30% and doubling the first-year payment threshold from €25,000 to €50,000 Earned income tax credit to increase by €100 Entrepreneurs Relief extended to angel investors National Minimum Wage increasing to €12.70 per hour from January 2024 €9 million allocated to Local Enterprise Offices to allow them to extend their financial supports and mentoring programmes to a wider cohort of indigenous businesses Increasing the standard rate income tax cut off point of €2,000 to bring entry to the higher rate of income tax to €42,000 Reducing the 4.5% rate of USC to 4% The upper age limit for Retirement Relief has been extended from 65 until the age of 70. The reduced relief, which was available on disposals from age 66 onwards, will now apply from age 70.

Details on the working and distribution of the “Increased Cost of Business Scheme” have still not been released despite the SFA calling for the release of this information, without delay. This SFA will continue to seek further details on this scheme and update members once the information is available.

SFA sought many of the above changes in particular measures to support rising business costs, modifications of the tax code to sustain investment, reductions in taxes on jobs and continued funding for the LEO network to support grants and mentoring. The Association will continue to monitor these changes and the introduction of the new supports which will be confirmed in the Finance Bill.

Visit https://www.enterprise-ireland.com/en/ for more information

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SFA HR  Sick Leave

A welcome decision

THE WRC RECENTLY PUBLISHED ITS FIRST DECISION UNDER THE SICK LEAVE ACT 2022 - A WELCOME FINDING FOR SMALL FIRMS, WRITES CATRIONA MCKEATING The WRC has published the first decision under the Sick Leave Act 2022 (the ‘Act’), in which an Ibec member represented by Des Ryan BL, instructed by Ibec, was successful in the defence of the claim. Helpfully for

employers, the decision states that the intention of the legislation is to confer a benefit on employees with no contractual entitlement to paid sick leave and confirms a number of key points:

The Act in its entirety does not apply to employers who operate a sick leave scheme that confers benefits which are, as a whole, more favourable to the employee than statutory sick leave; Contractual sick leave benefits which are either as favourable or more favourable than statutory sick leave will operate as a substitution for statutory sick leave; Section 9 of the Act sets out five criteria which must be considered in determining whether a company sick leave scheme is “as a whole” more favourable than statutory sick leave. The WRC has confirmed that regard must be given to each of these criteria.

Where certain elements of the company scheme are less favourable than statutory sick leave, this will not disentitle an employer to rely on section 9 where the overall benefit granted by the employer’s scheme is more favourable.

Summary of Case The claimant in this case had been employed by Musgrave Operating Partners Ireland (the ‘Respondent’) in its Tyrrellstown Supervalu store since 2007.

The Respondent operates a sick leave scheme, which was collectively bargained with its trade unions, Mandate and SIPTU. Under the Respondent’s scheme, employees with at least six months service are entitled to eight weeks’ full pay in a rolling

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Sick Leave  SFA HR

12-month period, subject to the provision of a medical certificate. Sick pay is paid from the fourth day of absence, with the first three days being unpaid waiting days.

This claim centred on the Claimant’s absence from work for a period of four days in January 2023. In accordance with the terms of the Respondent’s sick leave scheme, the Claimant was paid for one day in respect of the fourth day of absence. The Claimant’s position was that as a hardworking employee who was seldom absent from work, the terms of the Respondent’s scheme were less favourable to her than the provisions of the Act. Mr Des Ryan, BL, instructed by Ibec, on behalf of the Respondent, stated that the Act provides that contractual sick leave provisions that are as favourable or more favourable than the statutory provisions, will substitute the statutory provisions.

Further, the Act provides that where the employer provides its employees with sick

Des Ryan B.L. Associate Professor School of Law, Trinity College Dublin

Adjudicator’s findings The adjudicator acknowledged that the purpose of the legislation is to confer a benefit on employees with no contractual entitlement to paid sick leave. The adjudicator found that the duration of paid

Catriona McKeating, Employment Law Solicitor, Ibec

expressed its view that employers should not be obliged to pay statutory sick leave where their employees are already in receipt of contractual sick leave entitlements. Throughout the legislative process, Ibec consistently communicated

“SINCE THE PROPOSED INTRODUCTION OF STATUTORY SICK LEAVE, IBEC HAS STRONGLY EXPRESSED ITS VIEW THAT EMPLOYERS SHOULD NOT BE OBLIGED TO PAY STATUTORY SICK LEAVE WHERE THEIR EMPLOYEES ARE ALREADY IN RECEIPT OF CONTRACTUAL SICK LEAVE ENTITLEMENTS.” leave entitlements which are, on the whole, more favourable than statutory sick leave, the Act will not apply to the employer. Mr Ryan further asked the adjudicator to note that the Respondent’s scheme was collectively bargained with its recognised trade unions and that it must be a policy objective of the WRC to both facilitate and respect collective bargaining agreements.

Failure to do so would likely destabilise industrial relations in the company and result in the re-negotiation of a new scheme which mirrors the Act. Mr Ryan considered the benefits conferred by the Respondent’s sick leave scheme as against each of the criteria under section 9 of the Act. He argued that as the company’s sick leave scheme is more favourable than the Act, the Act could have no application to the Respondent.

sick leave in the Respondent’s scheme, the amount of sick pay, the 26-week service requirement and the three-day waiting period, combine to provide benefits that are, on the whole, more favourable than statutory sick leave. Accordingly, the Claimant’s complaint was not well founded.

The fact that the six-month service requirement and three-day waiting period under the Respondent’s scheme were acknowledged as being less favourable than the statutory provisions did not render the Respondent’s scheme to be less favourable than statutory sick leave “on the whole”.

Significance for employers Since the proposed introduction of statutory sick leave, Ibec has strongly

our concerns regarding the imprecise nature of the wording contained in the Act and called for more clarity for employers as to their obligations where they have a company sick pay scheme already in place.

This is therefore a welcome decision as it confirms that the WRC is required to consider all of the matters set out in section 9 in determining whether an employer operates a company sick leave scheme which is, on the whole, more favourable than the statutory provisions.

Where the employer’s scheme is, on the whole, deemed to be more favourable than the statutory entitlement, the employer will not be obliged to pay statutory sick leave.

Catriona McKeating is an Employment Law Solicitor with Ibec SFA | BETTER BUSINESS 43

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what’s on your

You’re not alone when it ComeS to CopinG www.turn2me.org

Forums, Group Support, 1to1 Counselling, iphone enabled

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02/02/2024 12:09

Workplace Wellbeing  Health

Nurturing workplace 1.

wellbeing

BY ADOPTING A FEW SIMPLE STEPS, SMALL IRISH FIRMS CAN ENHANCE EMPLOYEE WELLBEING AND PRODUCTIVITY WRITES SINEAD KELLY

2.

In

Sinead Kelly, Corp orat eW ellb ein gC o

today’s fast-paced business landscape, the significance of a healthy workforce has evolved beyond leadership responsibility - it has become a strategic necessity. Insights from McKinsey’s Health Institute’s 2023 survey, encompassing 30,000 employees across 30 countries, reinforce the significance of whole health, encompassing physical, mental, social and spiritual health. Applying their advice not only allows for a healthier happier workforce, but also improved job performance. I am Sinead Kelly, a Corporate Wellbeing Consultant and speaker with a background of 12 years in corporate occupational health and education in coaching psychology. I understand the unique wellbeing challenges you and your team face.

Allow me to guide you through four steps in enhancing your company’s wellbeing, whether you have five or 50 employees:

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3.

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Assess Your Starting Point Start by understanding your organisation’s current health state. Utilise employee assessments crafted via online anonymous forms, tailored with practical and cost-relevant qualitative and quantitative questions.

Establishing this baseline helps pinpoint areas for improvement, ensuring interventions address real needs without unnecessary expenditure.

Craft a Comprehensive Intervention Strategy Develop a strategy that not only reacts to existing challenges but proactively addresses potential wellbeing issues. This means investing in tailored employee supports that align with your budget while also initiating impactful nonfinancial strategies. Consider establishing a wellbeing calendar of events, newsletters, workshops and activities focusing on physical health, stress management and fostering a supportive environment. Think about launching initiatives like a lunchtime walking group, encouraging physical activity and team bonding without incurring financial costs.

Additionally, you might explore flexible work arrangements; flexible work hours or remote work options can increase job satisfaction. By integrating wellbeing strategies, you cultivate an environment that not only addresses existing challenges but also acts as a proactive buffer against potential issues, nurturing your team’s whole health.

Track Interventions Implement interventions in phases and assess effectiveness after a few months. Measuring outcomes through ongoing employee feedback helps gauge the impact of interventions. Assigning accountability to a dedicated staff member ensures consistent implementation and alignment with business objectives, ensuring that wellbeing remains a priority.

Integrate Whole Health into Organisational Success Embed whole health as a fundamental part of your organisation’s ethos. Leadership should model desired behaviours, fostering a culture where employee wellbeing is intrinsic to success. An example of this is when leaders not only prioritise their own lunch breaks, but also actively encourage and support their staff in taking regular breaks as well. Although this investment might take time, McKinsey’s research indicates long-term benefits in employee outcomes and company financial performance.

By adopting these steps, small Irish firms can enhance employee wellbeing and productivity. If you would like support in implementing these steps, I’m offering 20% off a Tailored Workplace Whole Health Assessment that includes a report with recommendations for strategy development and an online presentation of findings to key stakeholders up to 31/03/24. Prices start at the discounted rate of €350, pricing structure is tailored based on the number of employees.

Reach out today for further details at info@sineadkelly.ie

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Partner Profile  DeCare Dental Insurance Ireland Ltd

FOCUSING ON SOCIAL HEALTH EVIDENCE SHOWS THAT SOCIAL CONNECTION IS IMPORTANT PHYSICAL HEALTH, COGNITIVE FUNCTIONING AND CAN EVEN COMBAT THE RISK OF EARLY MORTALITY, WRITES DAVID CASEY Physical and mental health receive a large amount of attention in both our workplaces and lives, but social health receives far less attention and can fall off the agenda and be forgotten. The Grant Study is a 75year longitudinal study from the Study of Adult Development at Harvard. It tells us life is all about connections and is the number one factor to happiness. The Blue Zones are areas of the world where people live the longest lives, consistently reaching age 100. Social connection is a key pillar for these centenarians within these zones to live longer and happier healthier lives.

Many people consider social

connection to be a basic human need that affects all aspects of life. Although social connections are arguably best known for their impact on psychological wellbeing, there is now compelling evidence demonstrating their importance for physical health, cognitive functioning and even risk for early mortality. In fact, people who are more socially connected are not only happier, less sad and more satisfied with their lives, but they also age more slowly, heal wounds more quickly and live longer overall. On the other hand, having few or weak social connections entails a risk for early mortality

that is comparable to and exceeds the risk related to obesity and air pollution.

We could believe that when we talk about social connection, we’re talking about our intimate ties, such as those with our spouses or romantic partners, kids, extended relatives and close friends.

These close relationships are undoubtedly important for social connection, but our level of social connection also encompasses a variety of social links, including some that aren’t necessarily considered to be close intimate relationships. In fact, there is solid evidence supporting the impact of

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DeCare Dental Insurance Ireland Ltd  Partner Profile

both strong and weak social links within larger social networks on a range of health outcomes. To truly comprehend the entire scope of social influence, we need to take into account the people we depend on, have contact with and social snack on a regular basis including families, schools, workplaces, as well as communities.

“THERE IS SOLID EVIDENCE SUPPORTING THE IMPACT OF BOTH STRONG AND WEAK SOCIAL LINKS WITHIN LARGER SOCIAL NETWORKS ON A RANGE OF HEALTH OUTCOMES. Relationships may have a substantial and long-lasting impact on our health and wellbeing because many adults spend more time at work than with their own families. People in a range of work situations, jobs and hierarchies may be impacted by these relationships or a lack thereof. For instance, the majority of CEOs report feeling lonely according to a recent Harvard Business Review CEO snapshot study. Others in leadership roles have also reported experiencing isolation and the consequences that come with it. As a result, it’s possible that loneliness perceptions are widespread at work.

A one-size-fits-all strategy is likely to fail since there is no one cause for social detachment and

no one recipe that we can all follow to foster connection and reduce isolation. But research does suggest a few possible important components. A multifactorial definition of social connection implies that in order to successfully handle risk and protection, it is necessary to address each of the components when addressing social connection in the workplace. Social health is both the structure, meaning the number of relationships we have, and also aspects such as belonging, quality and function.

In order to truly address this issue, tactics that promote highquality interactions must be put into place in order to develop highquality connections. Additionally, initiatives could entail leadership development that encourages linkages and open communication between management and workers in order to accomplish shared objectives. More attention should be put into boosting positivity, trust and collaboration, as well as encouraging a sense of worth and respect among coworkers – all of which have been associated with healthier relationships and wellbeing. In order to promote a good worklife balance, organisations must develop policies and initiatives that encourage meaningful interactions, both inside and beyond the workplace. Longer hours do not always translate into more productivity, but they do take time away from spending time with family, friends and enjoying life outside of work.

According to research, it’s crucial to have a variety of relationships, for example, a growing body of research suggests that network diversity (a diversity of social roles) influences a range of outcomes, including

David Casey, Wellness Health Promotion Manager, Decare

better immune functioning and neurological health. Additionally, studies have demonstrated that workplace diversity can enhance critical thinking, creativity and financial outcomes. Different methods and viewpoints may be offered by leaders and those from diverse backgrounds, which could result in superior performance outcomes. Similar to this, having a variety of relationship types can help one access a variety of resources (such as companionship, support, counsel and affection), all of which can have an impact on one’s mental and physical well-being.

David Casey is DeCare’s Head of Health Promotion and a Doctorate Candidate of Trinity College Dublin Find out more about our dental, vision and wellness programs at decare.ie SFA | BETTER BUSINESS 47

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02/02/2024 12:18

Arts and Culture  Sustainability Sustainability

Totes Upcycled SUSTAINABILITY IS AT THE HEART OF TOTES UPCYCLED, A CRAFT BUSINESS SET UP BY LISA HODGE THAT USES REUSABLE TOTE BAGS TO MAKE UPCYCLED AND VINTAGE MATERIALS

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Sustainability  Arts and Culture

Waterford has a great reputation for the arts,

John Kennedy

from the council donating buildings which house contemporary art galleries and studios, to being the home of street theatre company Spraoi and its annual festival – the capital of the Sunny South East has a vibrant and well-supported arts scene.

This buzz about the county is part of what led craft maker Lisa Hodge home, after an apprenticeship with Fiadh Durham of Fiadh Woven Design in Dingle. She was inspired to set up her own craft business, Totes Upcycled, which focuses on making reusable tote bags from upcycled and vintage materials.

Sustainability is at the heart of what she does, giving old materials a new lease of life, making covetable and unique bags from anything from old curtains to dresses. During the pandemic the range also included the ubiquitous face masks and

scrunchies are a perennial favourite, which, along with small coin purses, are a great way to use up smaller scraps of material.

The idea for the business grew after Lisa joined a two-year course in fashion design, sewing skills and pattern drafting, under the tutelage of “unsung hero” lecturer Joan Brennan at Waterford VTOS Centre.

Having been sewing since an early age, Lisa moved straight into the second year, where she found the pattern drafting component invaluable to learn how to properly construct garments.

However, it was another module that proved the inspiration for what eventually became her business.

“We did a module on the fashion industry and how things are made; a lot of it was to do with problems in the industry - pollutant dyes, fast fashion ending up in landfill, fabrics that don’t biodegrade, low pay and dangerous conditions for garment industry workers.”

The students were also encouraged to reuse fabrics such as old curtains and tablecloths during their practice on the course and with that, the idea of a sustainable textiles business began to crystallise.

Much of what is currently available on the mass market is fabric made from recycled plastic, for example, but Lisa explains why this isn’t necessarily the best approach. “If you’re recycling a plastic bottle, it can be recycled into a plastic bottle over and over again. But if you recycle that into fabric, it just turns into fabric and then if someone throws that garment out, it’s just waste.” For this reason, it was important to her to make products that were going to be used a lot, hence the focus on tote bags.

She jumped at the chance to take an optional module of a 10-week Local Enterprise Office (LEO) Start Your Own Business course and after that, everything started to come together. The end of the year was coming and preparations were underway for the final presentation: a fashion show where each student showed a full range of garments. Lisa showed a collection inspired by the style and music of Prince - “Lots of ruffles, tailoring and high-waisted pants, a ‘Purple Rain’ jacket and a blue cloud dress inspired by the video for the song ‘Raspberry Beret’.” Almost all of the fabric was upcycled.

Two days after the fashion show, lockdown happened, but she put the time to good use. “The SFA | BETTER BUSINESS 49

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Lisa Hodge

Start Your Own Business course was still fresh in my head, so I started doing the business plan.” The business took two directions, one using vintage and upcycled fabrics to create unique pieces and the second using original drawings of landmarks to print onto plain upcycled fabric totes.

“I’m doing aprons as well now so I can get those branded for other companies,” she says. “I’m also printing onto recycled card if people want a print they could put on the wall. Then the other side would be more based on the fabric; if it’s a nice vintage fabric or denim then that informs what I make.”

She has also just finished a prototype jacket made from vintage quilted fabric and is keen to explore more of this, but at the same time stay focused on the reason she decided to make totes - to make the most circular use of the fabrics. “I wanted to make something that would be used over and over and over again. If I’m reusing the fabric, I want it to have a life every day.”

As she worked away on prototypes and a business plan over lockdown, she applied for the Back to Enterprise Allowance and business grants to get started. Given the time that was in it, she started her Etsy store online selling Covid face masks in 2021.

She has also benefitted enormously from mentorship, from both Waterford Area Partnership and LEO, at various stages of the business and may again, as her needs change. “You can’t know everything yourself,” she says. “I feel like I’m at the beginning all the time.

Even though I’ve been doing it a couple of years now it’s still got a way to go. For the future, I would like to take on someone to help me make stock and I’d like to expand into more shops.”

John Kennedy

Arts and Culture  Sustainability

Stockists range across the country from Om Diva in Dublin to Grá Dingle. Focusing more on branding and getting a website up and running are other projects to be juggled at the moment, between supplying shops and Philly Fair, a late-night craft, vintage and art fair in local pub Phil Grimes, which she is involved in organising. “Now that I’m starting to make clothes, I realise that I can’t do it all and I’m at the start of another new phase.”

While she started, like many, operating out of her spare room, she was thrilled to have been offered studio space in Kite Design Studios in Waterford last year.

Purpose-built by Waterford City Council and the City Enterprise Board, the objective of Kite Design Studios is to facilitate local craftspeople and also offer visitors a unique opportunity to experience first-hand a broad range of artisan producers in one central location. Situated on Henrietta St in the heart of Waterford’s Viking Triangle, it’s close to major tourist attractions such as the Medieval Museum and Reginald’s Tower. It not only affords Lisa a workspace, but also a retail space with the draw of a community of craft makers, bringing in extra footfall. It’s an innovative idea to support craft makers.

Totes Upcycled’s neighbours at Kite Design Studios include The Irish Handmade Glass Company (expert glassmakers continuing the proud tradition of Waterford Glass, glassblowing and cutting on site) as well as jewellery makers Gene O’Shea and Strong Roots Jewellery. Keeping regular business hours also helps with work-life balance, taking away temptation to keep sewing late into the night when she’s trying to prep for a big order or market.

Between business supports, mentors and the community of other craft makers, it certainly takes a village… Lisa has also been lucky to have her partner, award-winning filmmaker and director John Kennedy, on hand to create high quality promotional videos for her, which upgrades her Instagram showcase to the next level.

As we chat about her early life, the influence of her mother Bridie becomes clear; she was ahead of her time in many ways running a designer resale and dress hire shop when Lisa was young, as well as doing alterations and dressmaking. Both resale and hire are taking off again now in a big way as people try to shop more sustainably. It was making Barbie clothes from rag bag material from her mother’s shop that started Lisa on her creative path as a child and now her keepsake pieces made from upcycled materials are stocked in a new circular clothing shop, The Good Wardrobe, just next door to where her mother’s shop used to be. She truly has come full circle with her circular economy story.

For more, see @totesupcycledireland on Instagram and Etsy

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One4All  Partner Profile

ONE4ALL REWARDS A very important aspect of the rewards programme at One4all is The Christmas Club, which offers employees the opportunity to set money aside throughout the year and spread the cost of Christmas. One4all will then top up their savings by 2% at the end. That means if employees set aside €100 per month for 10 months, an additional €20 will be added to their online account; a simple but fantastic way to show your employees you care.

According to Rachel Fitzell, Inside Sales Manager, One4all

Rewards, “The One4all Christmas Club has been such a fantastic initiative, we have seen hundreds of companies get on board and help their staff reduce the stress of the busy Christmas period.

We have also seen a greater increase in employers rewarding their staff outside of the holiday season, which is great for morale and motivation which can boost performance by as much as 44%* within the company.”

Once Christmas Club funds are ready to be released, staff can then redeem them with a One4all Gift Card.

Plan For 2024

Why not elevate your employee rewards strategy this year with One4all’s versatile range of rewards. Rachel states, “Whether you’re looking to reward your employees or elevate your rewards programme, our One4all Gift Cards, Christmas Club and Cyclescheme are the perfect choices. Reach out to us to enhance your rewards program today.”

For more information, please email corpsales@one4all.ie or visit www.one4allrewards.ie to place your order today.

*Figure of 44% is from research carried out by The Incentive Research Foundation

ONE4ALL REWARDS BELIEVE IN THE BENEFITS OF REWARDING EMPLOYEES, NOT JUST DURING THE FESTIVE SEASON OR ON SPECIAL OCCASIONS LIKE BIRTHDAYS, BUT CONSISTENTLY THROUGHOUT THE YEAR

Employee Christmas Club • Save an agreed amount - deducted monthly from take-home salary • Contributions are made via payroll – no queues, no hidden fees, no stress • View balance online at any time – unique username and password • One4all will add 2% top up on all savings • Savings are released on a date agreed with Employer

Scan QR code to place your order today

Visit One4allrewards.ie for more information T: 01 870 8181

E: corpsales@one4all.ieW: one4allrewards.ie

The One4all Gift Card is issued by GVS Prepaid (Europe) Ltd. GVS Prepaid (Europe) Limited is regulated by the Central Bank of Ireland. Registration Number: C189313 GVSE23070

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01/02/2024 17:49

Travel  Portugal

Doing business in…

FOR SMALL BUSINESSES INTERESTED IN EXPORTING THEIR PRODUCT OR SERVICE, PORTUGAL HAS A LOT TO OFFER

Portugal B

ack in 2022, 10 Enterprise Ireland supported companies with a focus on construction, digital marketing, engineering and software services, participated in a ministerial-led trade mission. The aim of the trip was to promote Portugal as a destination for Irish exports and to highlight the success of Irish companies in market.

The Iberian nation of Portugal offers exceptional export opportunities to Irish companies.

Historically, a strong trade and investment link has existed between the two countries. In 2020, exports from Enterprise Ireland’s supported companies to Portugal reached €75 million. The purchasing power that exists in this market, along with the cordial nature of the population, makes it a highly attractive export region.

Portugal has been a member of

the EU since 1986 It has a population of approximately

10.3 million people Portugal is part of

the Schengen Zone The top imports of Portugal are

crude petroleum, cars, vehicle parts, packaged medicines and petroleum gas

Cars produced

by Autoeuropa at the Setúbal port

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Portugal  Travel

If exporting to Portugal is on the cards for 2024, there are a few points to consider: A container terminal in Lisbon

CREATE A GREAT ELEVATOR PITCH

Portuguese businesses are more hierarchal in nature and they like to work on equal terms, so make sure you are bringing your best to the table, as you can presume they are. A good elevator pitch that clearly explains who you are, what you do and what you can offer, is a great way of proving your interest and significance. First impressions and personal relationships are important here.

SOCIAL ISSUES

The social issues in Portugal are similar to those experienced across many other European nations. The country also faces the challenges of an ageing population; 20% of the Portuguese population is above 65 years of age. Around 65% of the population belongs to the 15-64 age group and 15% are in the 0-14 age group. This age structure is similar to the demographic trend in the rest of Europe, where populations are aging and fewer people are entering the workforce.

DO YOUR RESEARCH

Portugal has a population of approximately 10.3 million people.

With more people comes more business and innovation, and thus more competition. Really get to know the market you’re entering and who you’ll be competing with.

BE AWARE OF YOUR DISTRIBUTION CHANNEL

If you intend to export to, or scale in this market, know how you will make that happen. Consider the steps that must be taken between your product/service in Ireland and your customer in Portugal.

Assess the potential hurdles in providing your good or service to this market.

YOU AND/OR YOUR PRODUCT NEED TO SPEAK THE LOCAL LANGUAGE

Overcoming language barriers can be one of the most difficult aspects of exporting to this market. Having a trusted translator may be necessary for meetings and correspondence.

More practically, your product itself must be accessible to the population you are selling to; an app that functions solely in English will not succeed in the wider population.

R&D

The Government gives higher incentives towards R&D than other OECD countries. Tax subsidy rate (calculated as 1-B index and defined as the present value of before tax income needed to cover the initial cost of R&D investment and to pay corporate income tax) is also the highest among the OECD nations, which will encourage businesses to invest in R&D in Portugal. Lisbon is also flagged as a major city with regard to the latest innovation and start-up movement.

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Partner Profile  MyWaste

WORKPLACE WASTE MADE EASY! A TOOLKIT DESIGNED TO TAKE THE UNCERTAINTY OUT OF WASTE SEGREGATION IN THE WORKPLACE IS NOW AVAILABLE FROM MYWASTE, IRELAND’S OFFICIAL GUIDE TO WASTE This government funded initiative provides a free and extensive suite of signage and training materials to help workforces make accurate recycling decisions. This will assist Irish businesses achieve greater circular economy performance through increased recycling and composting rates.

A recent waste characterisation study carried out by the Environmental Protection Agency found that over 70% of waste placed in the general commercial waste bins should be placed in either the recycling or food waste bins. Food waste, paper and plastics are all found in the general waste stream, but should be placed in the food waste and recycling streams respectively. Action on reducing the amount of food waste in commercial bins throughout the county is now required, as food waste has not only economic consequences but environmental and social consequences as well.

Therefore, all food waste should be source separated and placed in dedicated food waste bins which will ensure that it can be processed correctly, further aiding Ireland’s transition to a circular economy.

Proper waste segregation means more waste materials can be diverted to the circular economy, which in turn reduces the need for new raw material and resources.

Following the guidance within the Commercial Waste Toolkit can significantly improve the quality and quantity of recyclable and compostable waste generated in Ireland.

Speaking on behalf of the

Regional Waste Management Planning Offices, Kevin Swift, Connacht Ulster Region Waste Office said: “This initiative will empower small and medium size businesses, particularly those in the retail, hospitality, manufacturing and corporate sectors, to further improve how their waste is managed. With clear language and visuals, the materials will make it easy for staff to quickly understand what waste goes in what bin and should significantly increase the amount of recyclables and food waste diverted from the general bin and correctly placed in the recycling and food waste bins.”

Assets include posters, bin labels, brochures, checklists, training animations and testimonials and materials are available to order (while stocks last) or download free of charge from www.mywaste. ie/business/. In addition to using the assets linked, tips to help maximise recycling include visually checking your bins to identify incorrect segregation, colour coding, ensuring bins are placed in accessible designated locations and continuously increasing awareness and knowledge within the workforce.

To further support waste segregation in Ireland, incentivised waste charging and other changes for waste collection in the commercial sector have been introduced through the introduction of the Waste Management (Collection Permit) (Amendment) (No. 2) Regulations 2023, which came into effect on 1 July 2023.

Measures in this piece of legislation

include: • All waste collection companies are now required to provide a residual, mixed dry recyclable and food waste bin to all their commercial customers • Waste collection companies must ensure that all business customers are placed onto a price plan that ensures that the cost to the customer for mixed dry recyclable or food waste is less than the cost of disposal for municipal waste • All waste collected must be weighed, with details on the weights of the individual bins communicated to customers • Waste collection companies will be required to at least collect the recyclable waste materials as specified on mywaste.ie • Collection of recyclable waste and food waste must occur at least fortnightly.

The various measures outlined, in addition to the toolkit resources will assist in improved waste segregation, environmental sustainability and will also contribute to Ireland’s transition to a more circular economy.

Additional information available from www.mywaste.ie/business or www.mywaste.ie/contact/

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And Another Thing…  Culture

AND ANOTHER THING… SET THE RIGHT TONE FOR YOUR BUSINESS BY ESTABLISHING AN ETHICAL AND VALUES-DRIVEN CULTURE, WRITES CARMEL SOMERS BENEFITS OF AN ETHICAL CULTURE

There are many benefits of an ethical culture including fostering trust among employees, attracting customers and partners and reducing risk. The key characteristics include: Leaders who define core organisational values and embody them Effectively communicate values and empower employees to make ethical decisions through the implementation of ethics policies, training and reporting channels In addition, it is important to recognise and reward ethical behaviour. These steps contribute to creating a workplace where ethical decision-making is not only expected, but engaged in.

Evaluating the success of the organisation’s ethical culture helps maintain a positive reputation. An ethical and values-driven culture isn’t just a trend; it’s a necessity for long-term business success and sustainability.

In

today's world where trust and integrity are paramount, establishing an ethical and values-driven culture is crucial for organisational success and sustainability. Such a culture not only sets the foundation for ethical decision-making, but also fosters trust among employees and stakeholders, contributing to positive business outcomes. This is applicable across diverse sectors, from corporate settings to nonprofit organisations, where aligning practices with core values is key to building a positive reputation and earning customer loyalty.

An ethical and values-driven culture goes beyond mere policy implementation; it requires a commitment to upholding ethical standards at every organisational level. Leaders play a pivotal role in creating an environment that encourages transparency, fairness and accountability. Empowering employees to make ethical choices and speak up against wrongdoing is integral. Prioritising an ethical and values-based culture attracts top talent, builds strong relationships with customers and partners and mitigates the risk of reputational damage.

This type of culture is defined by shared beliefs, principles and behaviours that prioritise integrity, honesty, respect and fairness. When employees know that their organisation operates with integrity and prioritises ethical practices, they feel more secure and are more likely to trust their leaders and colleagues.

Establishing an ethical and values-driven culture is crucial as it sets the tone for the business, conveying a commitment to ethical practices. This builds trust, leading to increased employee engagement, loyalty and productivity. Additionally, it helps attract and retain top talent in a competitive job market as employees seek organisations aligned with their values. Importantly, it also reduces the risk of legal and regulatory issues, mitigating the risk of reputational damage in an era of instant communication and heightened social consciousness.

“AN ETHICAL AND VALUES-DRIVEN CULTURE ISN’T JUST A TREND; IT’S A NECESSITY FOR LONG-TERM BUSINESS SUCCESS AND SUSTAINABILITY.” Carmel Somers is Director at Carmel Somers Consulting Limited

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A Day in the Life

DAY

A

LIFE in the

6AM I’m up early to prepare my son for his primary school day. Breakfast is important in our house and usually includes something green for me and squeezed fruit for him. We walk to school with our dog and I’m usually home by 8.30 after a 45 minute walk. This connection and think time is one of my favourite times of the day. 9AM Having worked solely in an office on Pembroke Street for 13 years, Covid brought positive change for me as I now work from home. Every day is different yet a few days a week, I schedule in yoga or a game of tennis during the day and work around this as my fitness and mental agility are important to me, particularly given the nature of my work. Also when I have meetings around the city, I generally cycle now too. 1PM For lunch, I usually have my own brown bread with cheese and salads at home. 2PM My model of work is that I now contract or partner with people on projects, which works well for me. I enjoy the relationships and acumen sharing. I work on challenging projects such as independent investigations, advising on contentious people management issues, adjudicate on regulatory disputes and board complexities, so every day is different. I am also an INED so certain times are busy with board meetings and committees that might bring travel too. 6PM Dinner with my son and homework time is cherished and maybe dreaded for the latter!

Whilst it’s a pleasure to work for myself since my twenties, it’s equally a privilege and blessing to be a mum to my son who concurrently needs my CEO time! Two evenings a week I work my calendar around my son’s activities and also rely heavily on a childminder. CPD is integral in my line of work so I may attend seminars or networking outside of my working day, while balancing my family and professional time. 8PM I often work in the evenings to allow for my flexible daily schedule. I rarely watch TV and would prefer to cook, read or catch up with family and friends. I like the FT, particularly at weekends – it can often take me the week to read!

LIFE IS BUSY BUT REWARDING FOR CAROL ANN CASEY AT CA COMPLIANCE

Carol Ann Casey, Managing Director, CA Compliance

“THIS CONNECTION AND THINK TIME IS ONE OF MY FAVOURITE TIMES OF THE DAY.”

WWW.CACOMPLIANCE.IE 56 SFA | BETTER BUSINESS

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Specialists in Dental and Vision Benefits

Dental & Vision benefits have a positive impact on your employee’s overall health.

Attract and retain key talent for your company by offering these benefits and showing your commitment to the health of your employees.

DENTAL

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WELLNESS

CONTACT OUR TEAM: www.decare.ie/corporate | corporate@decaredental.eu DeCare Dental Insurance Ireland DAC trading as DeCare, DeCare Dental & DeCare Vision is regulated by the Central Bank of Ireland.

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02/02/2024 12:47

Made Easy Go to

FREE toolkit

This toolkit includes posters, bin labels and a step-by-step Supporting Chambers Ireland – Sustainable Development Goals Champions

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