Members’ Newsletter
August 2025
Message from the CEO
Dear member,
The last week of July saw the announcement of a deal between the EU and the US imposing a blanket 15% tariff on all EU imports. However, it is far from clear that this is a settled and legally binding agreement. The White House announcement appears to go much further than the EU’s interpretation.
Tariffs on pharmaceuticals remain uncertain and unchanged for now, pending the outcome of a US national security investigation that could later impose duties of up to 15%. This would have a medium and long-term impact on the level of US pharmaceutical investment in Ireland.
The White House has announced the EU will invest $600 billion in the US economy and spend $750 billion in US energy by 2028. However, the EU Commission says the pledges are an "intention" not a legally binding guarantee.
The White House stated the EU agreed to purchase significant amounts of US military equipment, while the EU Commission states there is no deal whatsoever on defence.
The White House stated the EU and the US will work together to address non-tariff barriers in agricultural trade, including streamlining requirements for sanitary certificates for US pork and dairy products. The EU Commission said there was no concession on food standards and the EU right to regulate. This of course would be a significant political issue domestically for our farming sector.
The White House states the sectoral tariffs on steel, aluminium, and copper will remain unchanged and the EU will continue to pay 50% and the parties will discuss securing supply chains for these products. The EU says the 50% tariff will apply only after a quota (yet to be determined) is exceeded.
Message from the CEO
In short, nothing is clear, and nothing is definitively settled. What does that mean for your business?
If you are exporting to the US, a delivery tariff of 15% is safe to assume for most products. Whether your customer expects you to absorb some or all of the differential is a commercial matter, but it is important to factor in that the dollar has weakened from €1.04 to €1.16 to the euro since January, so EU goods increased in price for them anyway.
While the EU Commission has represented the deal as bringing certainty to exporters, it is far from clear that this is the case, and President Trump has already repudiated his own USMCA trade deal with Canada and Mexico.
What can you do as an exporter or as a business which trades with US MNCs here? Not a great deal other than explore ways to de-risk that business, or expand your export activity to Europe, Asia or South America. This Trump administration isn’t yet through a quarter of its term, and is proving the US to be an unreliable and unpredictable trading partner. At a minimum, as an exporter you must have a clear understanding of INCOTERMS, and who bears the cost of priceincreases imposed while goods are on the high seas. In terms of domestic business, if you have a substantial trade with a US MNC here, are you committed to a capex decision that is predicated on long-term trade with them?
Hopefully, I’ll have something more uplifting next month!
ISME news
Register Now for the 2025 Employment Law Update
There have been several important employment law changes arising from the courts and new legislation this year. This webinar will provide important updates to Irish SMEs.
The important topics that Barrister of Law Katherine McVeigh will be covering are:
• A review of the WRC Annual Report – what are the most common types of cases for an employer to be aware of?
• New law relating to settlement agreements under the Employment Equality Act 1998
• How to effectively manage long term absences of an employee and what are the risks?
• Key Principles for Investigations prior to a Disciplinary Procedure
• Probationary employees: What are the risks if there is a failure to manage employees on probationary period properly and how to effectively manage them?
• Recent important employment law case law and key legal principles arising from the case law that every employer should know
Time & Date: Thursday, 10th October, 08.00 am – 09:15 am
Register here
Government to review work permit occupations lists
The Department of Enterprise, Tourism and Employment is undertaking a review of the Critical Skills Occupations List (CSOL) and the Ineligible Occupations List (IOL) to ensure the
As part of the review process, submissions are sought from employers, representative bodies, Government departments, agencies, and other interested parties relating to occupations currently included on or absent from the lists.
This consultation provides an opportunity to present evidence-based feedback on labour market needs, helping ensure that Ireland’s employment permits system is responsive, balanced and future-proofed.
If you have questions or require assistance, email EMPU@enterprise.gov.ie.
For more information, visit Department of Enterprise, Tourism and Employment
Revaluation of Commercial & Industrial Properties in Cork Has Officially Begun
Tailte Éireann Valuation has officially begun the revaluation of all commercial and industrial properties in the Cork City and Cork County Council areas as part of the National Revaluation Programme.
This revaluation is being carried out to ensure that commercial rates are distributed more fairly, based on modern rental values. It will not increase the total rates collected by your Local Authority, but it will result in some businesses paying more and others less, depending on how property values have changed since the last revaluation.
The valuation date for this revaluation is 30th June 2025, meaning your property will be assessed based on its rental value as of that date.
You are legally required to provide up-to-date information about your property, including its current use and rental status. This must be submitted through the Tailte Éireann Online Portal by 20th August 2025.
Failing to provide this information, or providing false or misleading details, is an offence under the Valuation Act and may lead to penalties, including a Class A fine. You will receive instructions on how to access the Online Portal, and further information is available at www.tailte.ie.
If you have any questions, you can email reval@tailte.ie or call (01) 584 6753 between 9:00 AM–1:00 PM and 2:00 PM–5:00 PM, Monday to Friday (excluding public holidays).
Bundle & Save- Reach 15,000+ Irish SMEs for just €1,200
Get maximum visibility for your brand with our value-packed advertising offer:
• One 4x8 inch advert on the 2026 ISME Wall planner (used daily by SMEs nationwide)
• 2 x full-page adverts in the upcoming issues of The bISME in 2025 – our quarterly digital business magazine sent to over 15,000+ SME decisionmakers
Email marketing@isme.ie to secure your package and to know more information.
ISME news
ISME HR Hub – your HR support
To support Members to deal with the everchanging world of HR and employment law, we have created a portal to give you access to guides, templates, contracts, policies and more to support you in managing HR in your business We have curated the information based on the HR Life Cycle: Attraction, Recruitment, Onboarding, Policies & Training, Performance Management and Exit.
You can also find information from government agencies and other third parties in our General Information & Resources page, links to the top downloads and view our selection of blogs including Statutory Sick Pay FAQs and EU Directive on Transparent and Predictable Working Conditions.
To find out how it works and looks, click on the video about the portal here. To use the ISME HR Hub log into the Members Area, click on the top left button.
Save More with ISME Affinity Programme
As business costs continue to rise and income for so many at the moment has been challenged, we want you to take ADVANTAGE of your ISME Membership to reduce your costs and add value to your business through the buying power of ISME.
We have negotiated preferential rates, added services and access to selected companies across a range of industries for our members. Browse the listing here to make savings of up to 50%.
To access these offers, Members need to log into isme.ie via the Members Area.
ISME is taking bookings now for ads in the 2026 Wall planner
We will be printing and distributing our popular 2026 ISME Wall Planners to the membership before the end of the year. We offer advertising space on the planner, a great B2B tool which will be distributed to all ISME Members nationwide. There are four sizes available for advertising, and as always, ISME Members receive a discounted rate. Book your spot now as they sell fast.
Download the spec here or email marketing@isme.ie for more information
ISME news
ISME Surveys
➢ Q2 2025 Trends Survey
How did your business find the second quarter of 2025? In an ever-changing business environment, we want to hear from you on how your organisation has been impacted by completing our Trends Survey for Q2 2025 here.
Please share this survey with your network.
➢ Q2 2025 Bank Watch Survey
Please take our Bank Watch Survey for Q2 2025 based on your experiences of accessing finance and engaging with lenders here
The Bank Watch Survey provides us with the latest up to date information on SME's access to finance. The findings of these surveys will be circulated to media and will feed into relevant groups and committees ISME sit on Reports will also be uploaded to the ISME website, view previous reports here.
Please share this survey with your network
➢ ISME Annual Crime Survey
Please take 5 minutes to complete our annual Business Crime Survey 2025. This survey provides us with the latest up to date information on the impact, frequency and cost of crime on businesses around the country.
The findings of this survey will be circulated to media and will feed into relevant groups and committees ISME sit on.
Access the survey here
Invite to SEAI Case Study
Would you like to get recognised for your sustainable energy actions? Have you undertaken steps towards energy decarbonisation and received SEAI grants in doing so? SEAI are seeking expressions of interest from any ISME member who’d be willing to share their experience to encourage similar businesses to transition towards renewable and efficient energy usage. Please email Kathleen.moore@seai.ie
ISME news
Streamlined Funding Access for Irish SMEs with ISME Finance Finder
The ISME Finance Finder, developed in partnership with Swoop Funding, is an online platform designed to streamline access to finance for Irish SMEs It offers a centralized solution for businesses seeking funding options to start, expand, improve cash flow, refinance debt, acquire assets, or invest in new markets.
Key features include:
• Comprehensive Funding Options: Access to loans, equity, grants, and asset finance tailored to various business needs.
• Expert Guidance: Support from a team of funding specialists to assist with queries and application processes.
• Application Tools: Provision of templates and resources to facilitate funding applications.
• Dedicated Support: Availability of a hotline and email support five days a week for funding-related inquiries.
• Regular Updates: Finance updates and alerts to keep businesses informed of new opportunities
SEAI is hosting a FREE & ONLINE Energy Management Training Session in Sept
Introduction to Energy Management Training will take place on Thursday 4th September from 2-4pm. This is a free 2 hour workshop which supports SMEs in creating an Energy Action Plan. Further details on the training, as well as relevant workbooks and guides are available on our website here: Energy Efficiency Training for SMEs | Business | SEAI. Businesses can register for the training through our Ticket Tailor site here: Buy tickets
– Introduction to Energy Management Training
Additionally, businesses can avail of a complimentary 30-minute one-on-one consultation with Swoop's funding experts, offering confidential and obligation-free advice.
For more information or to begin your funding journey, visit the ISME Finance Finder.
For any business unable to attend, this training course is run frequently so there will be other sessions available throughout the year.
For any business looking to get started on their Energy Efficiency journey immediately, our Energy Academy is also available which provides free, on-demand training on energy management. SEAI Energy Academy | SEAI
ISME news
Health & Safety Authority Update
❑ Annual Review of Workplace Injuries, Illnesses and Fatalities 2022–2023 report presents the Annual Review of Workplace Injuries, Illnesses, and Fatalities for 2022- 2023. In preparing this report, we recognise the importance of providing reliable and up-to-date statistical information as an evidence base for decision-making.
❑ A Short Guide to Health Surveillance in the Workplace aims to assist employers and health professionals working on their behalf in understanding their legal requirements regarding health surveillance in the workplace. It also highlights the key elements to consider when implementing a health surveillance programme.
❑ Employing Apprentices: Safety On the Job information sheet is written for people who employ apprentices. It provides a summary overview of how employers should fulfil their duties as an employer and protect apprentices, who may be more at risk of injury and ill health.
❑ Safety On the Job for Apprentices- This information sheet is written for Apprentices. It provides some essential tips to help Apprentices stay safe and healthy as they start their career.
❑ Small Business Start-ups : This short introductory course is suitable if you are starting a small business or have a new business. You will learn about the role of the Health and Safety Authority (HSA) and the importance of managing safety, health and welfare in the workplace. The elements of a health and safety management system are outlined on the course and the main duties of employers and employees under the Safety, Health and Welfare at Work Act 2005. Risk assessment and meeting Safety Statement requirements for your business is another key part of this course.
❑ Small Business – Employees: This short introductory course is suitable for employees that are working in a small business. The course outlines the main duties of employers and employees under the Safety, Health and Welfare at Work Act 2005. It also addresses the impact of positive safety behaviour in the workplace. The course also includes key health and safety information required to keep you safe at work, including information on the roles of a Safety Officer and Safety Representative.
❑ Small Business – Employers: This short introductory course is suitable for employers and the self-employed who are running a small business. The course outlines the role of the Health and Safety Authority (HSA) and the general duties of employers under the Safety, Health and Welfare at Work Act 2005. The content is suitable across all work sectors
In relation to safety management, please see the following:
• Safety Management Made Simple
• Director Responsibilities, Safety Leadership & Safety Culture
In relation to OSH and workplace learning, please see the following:
• OSH Learner Pathway / Journey
• OSH Training Requirements & Approach
• Employee OSH Training Journey
• OSH in Education and Training Providers
Market Updates
What’s happening in foreign exchange markets?
Key events that influenced foreign exchange markets in July
• The US and EU agree a framework whereby the US will levy a 15% tariff on goods imported from the EU
• The European Central Bank kept interest rates on hold noting that the ECB is in a "wait and watch" situation
• Euro area annual inflation rate was 2.0%, up from 1.9% in a month earlier. A year previously, the rate was 2.5%.
• Key labour indicator, Nonfarm Payrolls in the United States rose by 147K, well ahead of forecasts
• UK GDP data showed a mixed picture - the economy contracted by 0.1% in May but grew by 0.7% in the first quarter of the year.
What data and factors could impact the major currencies in August?
• Friday August 1st - A slew of steep, country-specific tariffs are due to take effect on Aug. 1 unless targeted nations reach a trade deal with the U.S. beforehand
• Friday August 1st – European Inflation rate year on year
• Friday August 1st – US Non-Farm Payrolls (employment data)
• Wednesday August 6th – European retail sales year on year
• Thursday August 7th – UK interest rate decision
As an ISME member, you have exclusive access to Fexco’s dedicated account manager John Barry, who will help you with all your foreign exchange requirements.
• Reduce your cross-border payments costs
• Protect your business from currency volatility
Discover the benefits to your business without an obligation to trade!
>>Tell Me More>>
HR Update Managing Probation
A probation period, is a period of time at the beginning of a permanent contract of employment that gives an employer the opportunity to assess whether their new employee is capable, reliable and suitable for the job. It also gives the employee the opportunity to assess their suitability and interest in the position at hand.
How long is the Probationary Period?
The standard period of probation is 6 months. This period may be extended in exceptional circumstances if it is in the interest of the employee to do so, or where the employee has been on extended leave during their probation period. Any extension should not exceed a total probation period of one year. During the probation period, either party may terminate the contract of employment at any time however notice has to be provided as set out in the contract of employment.
Contract of employment
Employers must provide the core terms of employment to employees, in writing, within 5 days of starting their job. It’s recommended however that this be provided to the employee prior to their start date. The core terms include the duration and conditions relating to the probation period. Employers must also provide a written statement of the remaining terms of employment within 1 month of the employee’s start date. This should include details regarding the probationary period.
Managing an employee during the probationary period?
• Provide a Structured Onboarding Process - Start with a clear and supportive onboarding plan. Provide necessary training, introduce team members, and outline expectations early on.
• Set Clear Goals and Milestones - Establish realistic, measurable objectives for the probation period. Documenting these makes it easier to evaluate performance fairly and objectively.
• Offer Regular Feedback - Don’t wait until the end of the probation period to share concerns. Schedule regular one-on-ones to provide guidance, encouragement, and constructive feedback.
• Document Performance - Maintain records of performance discussions, achievements, and any issues. This documentation is helpful for decision-making and for providing clarity to the employee.
• Be Transparent and Decisive - If a new hire isn’t meeting expectations, communicate this clearly and professionally. Provide a chance to improve, but also be prepared to make tough decisions if necessary
Below is an example of the kind of questions employers could ask as part of a probation review:
• How do you feel everything has gone so far?
• What has been positive about your time with the company?
• What has been the biggest challenge to date?
HR Update
• Do you need any support or training in your role?
• Have you any feedback for management?
• Agreed Actions – Employee
Holding regular reviews with the employee is recommended, for example having a 1, 3, and 5 month review, in addition to regular informal feedback and one to one meetings with the employee.
Dismissal during probation
If after actively managing the probation period with the employee, it’s clear they are unsuitable for the role or are not performing at the level required for the role, an employer can take the decision to end the employment contract.
Employees on probation are not protected by the Unfair Dismissals Act until they have completed 12 months of continuous service.
While the Unfair Dismissals Act might not apply, employers should still follow fair procedures when dismissing an employee, especially if the termination is due to alleged misconduct.
Other legislation, such as the Employment Equality Acts, the Industrial Relations Acts, and the Protected Disclosures Act, do not have minimum service requirements and can still be relevant during a probation period.
During probation, employees can still bring claims for unfair dismissal if they are dismissed for reasons like trade union membership, pregnancy, or making a protected disclosure.
Employers who are terminating a contract during a probation period due to misconduct, should be aware that the employee has a right to ‘natural justice’, which means due process and fair procedures.
Also, employees may be able to take a claim for ‘wrongful dismissal’ during the probation period even if they have less than 12 months service. Wrongful dismissal occurs when an employer does not meet an implied or an express term in the contract of employment or does not give an employee adequate notice.
The best approach for employers is to manage the employee closely from day one, not to let performance or conduct issues go without clear and timely feedback, and approach the process in a fair and reasonable manner.
As a member of ISME you’ll find further details and resources in relation to managing probations on our website at https://isme.ie/members-area/hr-hub/onboarding/
Learning & Development
The ISME Skillnet service is here to help both the business owner and their employees.
ISME Members can receive up to 40% discount on ISME Skillnet training, view courses below. SCAN THE QR CODE TO FIND THE FULL LISTING
MS Excel Refresher Essential
Wednesday 3rd September View Course
Effective Telephone Sales
Thursday 18th September View Course
Microsoft Excel Intermediate
Wednesday 24th September View Course
MS Excel Advanced
Wednesday 8th October View Course
Business Writing & Email Etiquette
Tuesday 14th October View Course
