Supporting SMEs & Entrepreneurs
“Small business is the heartbeat of our community.”
David Broderick, Director, Small Firms Association Page
“Supporting
~Catherine Kirby, Chief of Staff,
How Ireland is protecting financial services and cybersecurity globally
Ireland has become a key global fintech hub, attracting major international tech and financial firms. Irish innovators are leveraging these opportunities, driving growth in financial services and technology sectors.
The synergy of a deep pool of talent and a variety of thriving industries has led to the fusion of knowledge, skills and expertise which have provided fertile ground for the emergence of this world-leading fintech sector.
Revolutionising financial services
Enterprise Ireland is working with over 400 indigenous Irish financial services and fintech companies. This new generation of innovative fintech-focused companies is revolutionising the provision of financial services through a spectrum of new products and services and playing a leading role in the transformation of the sector globally.
These firms are developing novel solutions across every aspect of fintech, including payments and asset trading, foreign exchange, big data analytics, AI, blockchain, risk, compliance and business intelligence, insurtech, peer-to-peer lending and regtech.
Providing regtech and cybersecurity solutions Within this cohort are a number of companies providing regtech solutions, which is essential in supporting businesses to navigate the growing landscape of increasing regulation and compliance in areas such as consumer protection, data privacy and cybersecurity.
The cybersecurity sector is growing rapidly in Ireland. As part of our efforts to support and foster skills in this area, Enterprise Ireland supports a number of initiatives. For example, we are a founding member and sponsor of Cyber Ireland, the national cybersecurity cluster focused on supporting and growing the Irish cybersecurity ecosystem.
Supporting cybersecurity advancements
We also support Cyber Innovate, a 10-month full-time postgraduate programme focused on developing the next generation of cybersecurity leaders. This initiative is led by Munster Technological University (MTU) and has been funded by a €7 million investment from Enterprise Ireland over a six-year period. As we look to the year ahead, the demand and need for innovative fintech solutions will continue to evolve and grow. With cuttingedge solutions to address global challenges, Irish fintech and financial services companies have established a leadership position for themselves in an ever-changing and dynamic marketplace.
A roadmap to futureproof the small business community
Amid global economic uncertainty, the Government needs to lay fresh foundations to support indigenous small businesses, which are the backbone of the Irish economy.
From the Celtic Tiger and the subsequent Financial Crash of 2008, the economy survived and eventually thrived due to the grit of the small business community and the investment from large multinationals.
Policies should support small businesses
The Small Firms Association (SFA) called for the Government to draft a roadmap for developing the small business sector and ultimately secure its future. Ireland is a nation of small businesses, and 43% of workers here are employed by a small business. This is why such a roadmap is crucial. It is only logical that government policy should support this process. It’s impossible to do for the medium to long term when the goalposts keep getting changed with each budget announcement.
The SFA is encouraged by the new Programme for Government commitment to publish Enterprise 2035, a long-term ambition for growth and job creation over the coming decade. Additionally, the proposed establishment of a Cost of Business Advisory Group in the Department of Enterprise, Tourism and Employment and the promised changes to PRSI and VAT are also welcome.
Impact of rising costs
The Government needs to act fast
because there is a lot of pressure on small businesses due to rising costs. At the start of the year, the national minimum wage, as expected, rose by 80 cents to €13.50. This is why the Association has been calling for a temporary PRSI rebate for small businesses to be introduced as soon as possible. It is the most efficient way of getting support into the pockets of hard-pressed business owners.
Last summer, in partnership with Amárach, the SFA published an extensive survey on business costs which found that 83% of small businesses have experienced rising costs in the previous 12 months. The research also showed an estimated increase of 16.6% in average business costs during that time while 57% of businesses say that labour costs have contributed to rising costs.
Boosting small business resilience
Amidst economic uncertainty beyond our shores, the Government needs to be ambitious for small businesses and future-proof them for generations to come. Small business is the heartbeat of our community; like the GAA, we are in every town and village in the country. We were here during recessions, before any ‘boom’ or ‘windfalls.’ We now need the right support and structures in place for whatever else comes our way.
Project
& Web Editor: Henry Phillips All images supplied by Gettyimages, unless otherwise specified | Contact information: ie.info@mediaplanet.com or +44 (0) 203 642 0737
David Broderick Director, Small Firms Association
Anna Marie Turley Head of Fintech, Financial Services and Cybersecurity, Enterprise Ireland
Strategic energy management: a cost reduction guide for SMEs
Transform your energy management approach with detailed insights on measurement, monitoring and cost reduction. Follow these steps to optimise energy usage, engage staff and implement systems that deliver consistent savings while enhancing operational efficiency.
According to Tricia Murray, Energy Services Manager at Energia, for long-term success, your energy management programme should become an integral part of your business operations. “Regular reviews of targets and achievements, updates to action plans based on results and ongoing staff engagement are essential,” Murray advises. “Integration with other business systems and consistent reporting on progress and savings will help maintain focus and demonstrate value.”
Consistent energy management boosts savings Murray adds: “Success depends on consistent application, regular review and strong commitment from all levels of the organisation. Remember that energy management is an ongoing process that requires continuous attention and adjustment to achieve optimal results.”
A 10% reduction in energy usage can significantly impact your profit margins. Consider this: every €1 saved on energy costs is equivalent to €10 in sales revenue for the same profit impact. According to guidance from the Sustainable Energy Authority of Ireland, if you’re wasting €1,000 annually on energy due to poor management, you would need €10,000 in additional sales to generate the same profit.
Understanding bills and tariffs
Regular review of energy bills are necessary to understand usage patterns and trends. Pay particular attention to night unit consumption, unusual spikes or anomalies, any penalties or additional charges and verify Maximum Import Capacity (MIC) accuracy.
Regular tariff reviews are essential, as significant savings can be achieved by ensuring you’re on the most appropriate rate structure. Your tariff selection should
consider usage patterns, timing and volume considerations.
Action planning
Your energy action plan should include clear objectives and targets, budget allocation, responsible personnel assignments, implementation timelines and progress tracking mechanisms. Each element should be clearly defined and measurable.
When prioritising initiatives, consider available resources, potential energy savings, implementation complexity and opportunities for quick wins. Projects that offer high visibility and encourage staff engagement should be given special consideration.
Implementation steps
Establish regular maintenance programmes and optimise existing systems and processes. Staff training in energy-efficient practices should be ongoing, with regular monitoring and adjustment of operations as needed.
Energy efficiency should be a key factor when purchasing new equipment; calculate lifetime energy costs for major purchases. Review energy supplier options regularly. Consider green energy alternatives as part of your procurement strategy.
Financing and funding opportunities for sustainable business
Energia’s Business Energy Efficiency Grant provides financial support for businesses making energy-efficient upgrades, offering money back on the savings achieved. It can be claimed alongside the SEAI Community Grant and the Exeed Grant. The grant amount varies depending on the project and savings made (visit energia.ie/businessgrants for further details).
Monitoring and review
Implement a system of bi-monthly bill comparisons and continuous consumption pattern tracking. Anomalies should be identified quickly and addressed promptly to maintain efficiency. Submit and track monthly meter reads.
Maintaining momentum requires regular review of targets and achievements. Action plans should be updated based on results and staff engagement, and training should be ongoing. Integration with other business systems, as well as regular reporting on progress and savings, helps ensure sustained success.
Measuring success
Success in energy management can be measured through various comparative metrics. Consider energy use per employee, energy use per revenue, energy use per unit area and energy use per unit of production (kWh/output). Time-based consumption patterns should also be analysed to track improvements.
Reference: 1. www.seai.ie/sites/default/files/publications/Energy-ManagementGuide-for-SMEs.pdf
Tricia Murray Energy Services Manager, Energia
Sponsored by Energia
Energia offers a range of energy efficiency supports for SMEs
Efficient international payments: an enabler and growth strategy for success in global markets
Irish small and medium-sized enterprises (SMEs) expanding globally have a significant opportunity to tap into new markets and diversify revenue streams, which is why managing their foreign exchange and payments efficiently is crucial.
Acost-effective FX strategy isn’t just a necessity — it’s an enabler for growth, helping businesses streamline processes and maintain cash flow to stay competitive.
Global ambitions, local challenges
Engaging in international business presents an exciting opportunity for Irish SMEs, providing access to a global market that encompasses over 8 billion people and 360 million businesses, thereby offering immense potential for growth and expansion.
To capitalise on this, SMEs must navigate multiple challenges when entering new markets. This includes managing complex logistics and supplier relationships, as well as securing new partnerships and staff while establishing brand presence in unfamiliar territories.
SMEs need confidence that international and FX payments will be made on time, every time.
In addition to these challenges, a critical concern for SMEs is managing cash flow and the consequences of delayed or high-cost payments and volatile exchange rates, which can threaten financial stability.
Research involving members of the Irish SME Association (ISME) and Small Firms Association (SFA) highlights the extent of this problem. Studies reveal that more than one-third of Irish SMEs experience difficulties sending or receiving payments to and from international sources.
Hidden costs of going global
The high cost of international payments is one major stumbling block, hindering global ambition. “Smaller companies operating overseas or expanding into new markets can often be subject to high fees or uncompetitive FX rates,” explains Sara Savidge, CEO, Fexco International Payments, one of Ireland’s leading cloud-based cross-border payments solutions providers.
Balancing automation and expert support to safeguard SMEs
The consequences of inadequate security and compliance can be severe. Without the right support and safeguards in place, businesses face financial losses and reputational damage due to fraud, delays or errors. “With most fintech and traditional payment providers, support comes in the form of an online guide, FAQ or chatbot,” says Savidge. “Just to be clear: it’s important to leverage automation, however, there needs to be a balance.”
She adds: “SMEs should be focused on their
own growth and expansion. Our research shows that expert guidance from someone familiar with international markets can help overcome challenges to prevent costly delays, reduce risks and improve the customer or supplier experience.”
Savidge continues: “An inefficient payment solution without the right support structure can leave SMEs vulnerable to fraud, which remains a significant issue across the payments industry.”
Critical role of payment reliability in SME global success
SMEs require reliable, timely payments to ensure growth and mitigate global operational risks. Their reputation, often their most valuable asset, is crucial to maintaining credibility and brand integrity.
“Unlike large organisations that can weather a PR crisis with established goodwill and resources, SMEs typically have fewer buffers to absorb the impact that poor experience, payment delays and unresolved issues can cause. This may lead to financial losses and strained supplier or client relationships. SMEs must pay on time or risk losing the foothold they have worked hard to secure in key overseas markets,” says Savidge.
How payment fraud can derail SME international growth
According to the recent FraudSMART Payment
Sara Savidge CEO, Fexco International Payments
Tony Greenway
By streamlining international payments and leveraging expert support, a Dublin SME expanded into global markets
Case study
Report released in May 2024, the Banking & Payments Federation Ireland quoted that fraudsters stole almost €100 million through various scams with an alarming increase in email-related fraud, including invoice redirection and impersonation scams. This trend and increase of over 16% compared to the previous year highlight the need for SMEs to be vigilant and safeguard their business from cybercrime.
“The impact of fraud on a global corporate can be severe,” says Savidge. “However, if you’re a small business, it can have a devastating impact on your P&L along with your confidence to explore new markets. Research confirms that a bad experience in one market can close the region for an SME entirely.”
The importance of choosing the right payments partner
For any SME exploring international growth, the right payments partner can be the difference between success and failure. The trouble is there are so many providers in the market that selecting the right one can be confusing.
Savidge, who has worked in the payments industry for almost 30 years, says: “SMEs should look for an international payments partner that is equally as committed to their growth and success by delivering solutions that:
1. Improve economics: Benchmark your current fees and FX rates by leveraging communities
such as SFA and ISME who have established partnerships with providers where discounts and transparency mean you can be confident of competitive terms.
2. Empower international growth: Most providers offer traditional currencies for popular countries. However, many highgrowth markets across Asia and Latin America will require access to exotic currencies and experienced personnel with geographical insight.
3. Streamline operations: Sending or receiving an international payment should be seamless, efficient and easy to reconcile.
4. Mitigate and reduce risk: Choose a provider that is committed to addressing security concerns, protecting against fraud and reducing FX exposure, ensuring compliance with industry standards.
Fexco started in Killorglin, Co. Kerry, in 1981 with foreign exchange. Now a global success story, employing nearly 3,000 people across 50+ countries, Fexco understands the importance of choosing the right partner to help Irish SMEs scale and grow. fipsupport@fexco.com Scan the QR Code or call: 1800 246 800
Choosing the right FX payments partner will accelerate international growth and new market entry
Confidence with reliable international payments
Eastland Engineering Supply Co. Ltd (EES), founded in 1991 and recently acquired by large global multinational Vallen Group, processes batch payments across multiple currencies. Having an efficient international payment system was essential to reduce complexity and build confidence among its suppliers and customers.
After partnering with Fexco, EES was able to reduce manual tasks, mitigate FX risk and access multiple currencies by leveraging a highly skilled team to ensure timely and cost-effective payments.
“Partnering with Fexco International Payments has streamlined our process, which means we are free from the stress of FX fluctuations or payment delays,” says Fiachra Kirwan, SVP Finance Vallen Europe. “The Fexco team are always on hand and has empowered EES to scale from a local SME to a global service provider. We are excited to continue expanding our business internationally, safe in the knowledge that EES has access to great solutions underpinned by a highly skilled and proactive team.”
Balancing technology and human support Fexco International Payments provides the ability to lock in exchange rates for greater clarity on international payments for over 130 currencies, with seamless platform integration, highly competitive pricing and the right balance of technology and human support.
By offering risk management solutions to safeguard against currency fluctuations, Fexco solutions strengthens security and fraud protection for Irish SMEs.
FX solutions help SMEs thrive “Our goal is to empower clients to succeed on the global stage,” says Savidge. “With the right technology and support, Irish SMEs can confidently navigate international markets to grow their business.”
Fiachra Kirwan SVP, Finance Vallen Europe
How ‘picking, packing and shipping’ is made easier for e-retailers
Catherine Kirby, Chief of Staff at eCommerce fulfilment provider Autofulfil, explains why e-retailers struggle with fulfilling customer orders — and what they can do about it.
What does an eCommerce fulfilment provider do?
When eCommerce retailers receive an online order from a customer, they must pick, pack and then ship the product to them. Doing this successfully is called fulfilment. Retailers can either take care of that process themselves; or they can outsource it to a third-party logistics provider, like us.
How does a third-party provider’s service work?
We store the retailer’s stock in a dedicated part of our fulfilment centre. Our system is connected to the retailer’s, so when anyone places an order on their platform, it’s automatically sent to us. We then pick, pack and ship the item to the buyer. A third-party provider should operate seamlessly in the background, making retailers and their customers happy by fulfilling orders promptly and getting packages out quickly and accurately.
What challenges do retailers experience around fulfilment?
When they’re small, the retailer can probably take care of fulfilling orders and shipping products in-house. But as they grow and start making more sales, they can struggle to keep up with fulfilment because it’s a time-consuming and resource-intensive process. Missed orders or late deliveries can harm a brand’s reputation, particularly because today’s customers expect and demand next-day delivery. So, it’s not just sales the retailer can lose. It’s customer loyalty, too.
What are the benefits of using a fulfilment provider?
Logistics is complicated, especially if you don’t know how to do it. By turning it over to an expert, retailers get peace of mind. It also gives them the space to focus on parts of their business that will help them grow, such as product development, sales and marketing.
What should retailers look for in an eCommerce fulfilment provider?
Number one is: do they offer amazing customer service? Retailers will want a same-day customer service response from their fulfilment partner at the very least. We try to respond to requests and questions within an hour or two.
Also, will the provider fulfil orders quickly, accurately and reliably?
What’s their reputation like in the market? Are they easily able to scale staff numbers up and down to deal with busy shopping events such as Black Friday? Finally, do they operate with integrity — and is the retailer protected contractually with good commercial terms? Essentially, retailers should look for someone who’s going to be their partner, instead of just a service provider.
Why customer service is key in the world of eCommerce fulfilment
Entrepreneurs who use fulfilment centres have more time and energy to spend developing their businesses, says a consultant who helps e-retailers with their growth strategies.
Sarah O’Donnell understands the pressures that in-house fulfilment can put on a small business.
As Partner at Little & Large — a Galway-based Advertising Agency helping Irish eCommerce brands launch and grow — she has seen some clients struggle under a mountain of customer orders and queries.
Outsourced fulfilment boosts profits
“They get to a place where they think: Hang on...50% of my day and brain power is spent packing orders and dealing with questions,” says O’Donnell. “So, I suggest they consider partnering with a fulfilment centre that will do all of that for them. They can then devote their time, effort and headspace to making money for their business, rather than running their own fulfilment operations.”
Generally, when she floats this idea to clients, particularly those just starting out, their initial response is: ‘We can’t possibly afford to do that.’ That doesn’t have to be the case, she insists. “Many of them think that fulfilment is more expensive than it really is. They don’t realise that fees are based on the volume of sales you do and the amount of stock you have. It’s not a service that’s exclusive to big brands. You can be a small fish and use a fulfilment centre. So, I tell them: Build the cost into your pricing model.”
Diligent and reliable customer service
The trick is partnering with the right fulfilment centre, however, because O’Donnell has also seen what happens when fulfilment goes wrong. “These days, eCommerce is such a tough industry,” she says. “Customers have extremely high expectations. Make one mistake, and it can go viral.”
Therefore, customer service is critical. When one of her clients was looking to move from their existing third-party logistics provider, looking for a more personal service, she suggested they migrate to Galway-based fulfilment centre, Autofulfil.
“I’ve worked with them for years and know the high level of personal service they give,” says O’Donnell. “That’s important. Because while a fulfilment centre can be brilliant at sending out your parcels, if it takes them four days to respond to one of your queries, you start to think: ‘Okay, I’m clearly not being prioritised here, and my customers are getting frustrated with receiving delayed updates.’ As a retailer, you need a reliable fulfilment partner that will drop everything and sort out any issue right away. Autofulfil provides that level of service.”
Catherine Kirby Chief of Staff, Autofulfil
WRITTEN BY Tony Greenway
WRITTEN BY Tony Greenway
Sarah O’Donnell Partner, Little & Large
Why sustainable fulfilment is the future of eco-friendly eCommerce
ECommerce is quick and convenient — but it’s also a big generator of carbon emissions. Leaders within the fulfilment industry are fighting back with a range of sustainability initiatives.
stepped up its sustainability plans and partnered with Trees for the Future, a nonprofit that has planted over 250 million trees globally since 1989. The company’s 100,000 sqft Galway-based fulfilment centre was the first in Ireland to achieve carbon-neutral status, with trees being planted to offset the emissions of every order it ships. “We’ve already offset more than one million lbs of CO2,” she adds. Even so, the company is aware that offsetting is not enough, which is why a raft of sustainability initiatives are being prioritised across its operations.
Sustainable packaging and energy cuts
For example, Autofulfil uses paperbased, fully recyclable, biodegradable packaging — and all of its cardboard
boxes are ethically sourced from Forest Stewardship Council-certified suppliers. “Plus, we’ve installed motion sensor lighting throughout the facility, cut heater usage and switched the bulbs in our offices to LEDs,” says Proctor. “We cut electricity consumption by 55% last year.”
Additionally, an Employee Sustainability Committee meets monthly to brainstorm and implement sustainability initiatives that could be introduced going forward. This includes ideas like the possibility of Autofulfil shredding and reusing cardboard waste as packaging filler, for example.
Sustainability initiatives popular with consumers
Such initiatives aren’t just good for the planet. They’re also popular with consumers. Statistics show that increasing numbers of Irish shoppers are keen to go green, with 41% saying they would be willing to pay a premium for more sustainable products and 49% preferring to buy products with less packaging.
“Our eCommerce clients love what we’ve achieved, too,” says Proctor. “That’s because they can tell their customers how sustainable they are being because of what we are doing. It’s early days, but we’re proud of these results and excited to do more.”
Growth and Marketing,
Where startups can secure investment and scale globally
In today’s fast-moving business environment, SMEs and startups are the backbone of economic growth. With Ireland emerging as a global innovation hub, the ability to scale, secure investment and access mentorship is more critical than ever.
The Accelerate Programme at Dublin Tech Summit (DTS) is designed to address these challenges head-on, providing a launchpad for the next generation of industry disruptors.
Global platform for entrepreneurs
A key highlight of the programme is the Startup World Cup, powered by Pegasus Tech Ventures, a prestigious global competition offering startups the chance to compete for a $1 million investment prize. This initiative places Irish entrepreneurs on a global stage, connecting them with top-tier investors, industry leaders and mentors who can propel their businesses forward. Winning the Irish regional competition is more than just a title; it’s a gateway to Silicon Valley, offering unparalleled networking opportunities and exposure to some of the world’s most influential venture capitalists.
Networking and learning opportunities
SMEs,
workshops, expert-led masterclasses and investor networking sessions, equipping them with the tools needed to scale successfully. Whether refining their pitch, forging strategic partnerships or scaling internationally, participants benefit from an ecosystem designed to accelerate their journey.
Events and activities for SMEs
This initiative places Irish entrepreneurs on a global stage, connecting them with top-tier investors.
Beyond competition, startups gain access to tailored
entrepreneurs and the power of ‘third spaces’
Hubs provide a structured yet flexible alternative to traditional office spaces and home working. They enable businesses to scale up or down easily and adapt to changing needs.
IWRITTEN BY
Bethany Cooper
Supporting SMEs and entrepreneurs isn’t just about funding; it’s about encouraging a thriving ecosystem. That’s where the inaugural Dublin Tech Week (DTW) comes in. It is a week-long celebration of tech and innovation from 23–30 May 2025, which will turn Dublin into a playground for the future.
Supported by Dublin City Council, Dublin Tech Summit, Smart Dublin, LEOs, universities, tech companies and tech groups, Dublin Tech Week will encompass a range of events and activities across the city for you to take part in. For startups looking to scale, entrepreneurs seeking guidance and SMEs driving the future of business, the summit will provide the foundation for lasting success.
n an era where agility and resilience define business success, Ireland’s network of hubs offers SMEs and entrepreneurs the ultimate ‘third space’ — a flexible alternative to traditional office setups and the isolation of home working. While many businesses may be aware that hubs offer services such as coworking desks, private offices, meeting rooms, event spaces and more, they may be less familiar with how hubs can support real business growth.
Power of the ‘third space’
Stephen Carolan, Connected Hubs Programme Manager, explains: “Hubs are dynamic, innovationdriven environments that foster collaboration, productivity and growth. For startups and SMEs, hubs provide a cost-effective
ImageprovidedbyConnectedHubs
alternative to traditional office leases, with the flexibility to scale up or down as needs evolve. They provide professional workspaces for employees who work remotely, opening up new talent markets and providing a wider hiring pool for small businesses. Furthermore, they come with on-site staff who can take care of the day-to-day, such as facilities management.”
Community, networking and growth
Killian Kavanagh, Managing Director of media project management agency, Dovetail Consulting, agrees. Based in Dundalk’s Creative Spark hub, Killian explains: “The hub fosters a collaborative environment where partnerships happen organically, and we’ve worked on projects with other hub members. The world-
class Fab Lab has opened here with opportunities to explore 3D printing — something we wouldn’t have encountered otherwise. Additionally, many courses and events hosted in this hub have made professional development and networking more accessible.”
Driving business resilience and flexibility
High-speed internet and professional working spaces aren’t the only things on offer. As Carolan explains: “Many of our hubs provide tailored business support services, including mentoring, accelerator programmes and signposts to funding resources.” Being part of the network means businesses can access a wide range of expertise. Hubs offer a variety of flexible pricing models ensuring you only pay for what you need when you need it.
Government support
The Connected Hubs network is a Government of Ireland initiative comprising over 370 hubs, with new hubs joining regularly. Backed by the Department of Rural and Community Development and the Gaeltacht under Our Rural Future (the national rural development policy), and project-managed by the Western Development Commission (WDC), it continues to expand its offerings. “Government support has been instrumental in ensuring that high-quality workspaces are accessible across Ireland, from major cities to rural communities,” says Carolan.
Siobhan Human Head of Programming and Marketing, Dublin Tech Summit
Stephen Carolan Connected Hubs Programme Manager, Western Development Commission
Sponsored by Connected Hubs