Caitriona Fottrell

Last week, The American Chamber of Commerce Ireland launched the results of its quarterly FDI Insights survey. This survey highlights the views of members on Ireland as an investment and growth location. Key findings of AmCham’s FDI Insights survey include: - 97% of respondents said that Ireland is competitive when compared to other advanced global economies. - 56% said they expect the number of employees in the Irish operations of their organisation to increase over the next 12 months. - 9 in 10 said their corporate headquarters have a positive view of Ireland as an investment or growth location. - 40% said housing is the most important challenge for Ireland to overcome for their company to invest and expand here. 19% identified cost competitiveness as the most important challenge with 12% saying skills shortage was the number one challenge. - 52% of respondents said Ireland’s highly educated and skilled talent pool is its main competitive advantage. Full detail on the key findings from this survey are available here: https://lnkd.in/e2ZVJUcT

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Interesting spot of significant direction from Department of Finance Ireland to the National Treasury Management Agency ("NAMA") regarding preparatory work required in relation to the Conclusion of Irish Bank Resolution Corporation Special Liquidation and Dissolution of the National Asset Management Agency "Re: Memorandum to Government on 2nd July 2024 relating to the General Scheme of the above mentioned Bill. Following Government's approval of the proposal to draft the Bill along the lines of the General Scheme, my Department is now working with the Attorney General's Office and the Office of Parliamentary Council to draft the Bill. The Bill provides inter alia for the residual assets and liabilities associated with the conclusion of the Special Liquidation of the Irish Bank Resolution Corporate (In Special Liquidation) ("IBRC") to the National Asset Management Agency ("NAMA"), at end 2024 / early 2025. The Bill is a priority piece of legislation for the Government. It is therefore important that appropriate support is provided by NAMA on an interim basis to undertake all necessary preparatory work required to facilitate the proposed transfer of residual activity from IBRC to NAMA pending enactment of the Bill. This support will ensure that operational activity can commence following the passage of the Bill. Therefore, and in accordance with Section 13(l)(d) of the Irish Bank Resolution Corporation Act 2013, I hereby direct NAMA to undertake all necessary preparatory work in respect of the transfer of residual activity of IBRC to it. This direction is given pending the enactment of the Bill, currently being drafted, which, when enacted, will facilitate such legal transfer. I direct NAMA to incur such costs as NAMA considers necessary or expedient in connection with this direction, and an estimate of these costs should be incorporated in the NAMA budget process".

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Today, Fine Gael launched our manifesto for #GE24, setting out our stall in how we will continue to invest in our economy & provide for our people, putting money back in your pocket, improving public services & securing your future to deal with unforeseen events. More here 👉 finegael.ie/manifesto

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⚠ ATTENTION BUSINESS OWNERS ⚠ The publication of the Finance Bill 2024 will bring a significant shift in the PRSA landscape in Ireland, in particular for company owners, in 2025. As things stand, there is no limit to how much a company owner can pay into a PRSA. As of 1st January 2025, it will be capped at 100% of their salary. In practical terms, you could have a company owner taking a salary of €40k from their business, but who is putting €100k into their PRSA in 2024. In 2025 and beyond, they will be capped at €40k. Any contributions above the 100% cap will be subject to BIK. This is a big shift, and I'd highly recommend that any company owner sitting on a healthy balance sheet should take financial advice very soon with a view to maximising the current PRSA position before it changes. DNG Financial Services James Kane MSc, CFP®Tom Flanagan BBS QFA CFP®Rebecca Harlow QFA Suzanne Kennedy QFA APA #financebill2024 #prsa #pension #retirementplanning #businessowners #companydirectors #dng #dngfs #dngfinancialservices

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Check out the second edition of the PwC Ireland Quarterly Economic Dialogue developed by Ciarán Nevin and Ria Smyth.

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Common Things Most Business Owners Aren’t Aware Of! 💼 Grants and Supports: Many business owners don’t realise the number of grants and supports available through Local Enterprise Offices and Enterprise Ireland. Familiarise yourself with these resources for financial assistance. Revenue Briefs: Stay updated with Revenue briefs to keep up with changes like the enhanced reporting requirements introduced in January 2024. Budgeting: Keep your budget updated regularly. It's a live document that should be reviewed and adjusted monthly to reflect your business's financial reality. Exit Strategy: Always consider your long-term goals and how you plan to exit your business. This strategic thinking is crucial, even in the early stages. Stay tuned for more valuable insights from Borgo Accounting! Discover more at borgo.ie. #BusinessTips #FinancialHealth #Grants #RevenueBriefs #Budgeting #ExitStrategy #Accounting #BorgoAccounting #BusinessGrowth #IrishBusiness #SmallBusiness #Entrepreneur

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How is AI shaping the future of work and empowering the individual, the team, and the organisation? 📲 Tim Bergin, EY Ireland Partner, People Consulting Innovation Lead explores the transformational impact of artificial intelligence on the workplace, explaining how AI is complementing human talent, driving innovation, and redefining productivity. 👩‍💻 Read more on Tim’s insights here - https://lnkd.in/eSMRMZrM #EYAI

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Webinar today 1pm. where we will be focusing on the governance failures of the Irish State Broadcaster - RTE, with Co Founder and Chair of The Corporate Governance Institute, David W Duffy. Join us for this webinar to understand the important role that you can play in improving governance on a board. Register now to secure your place: Register now: https://lnkd.in/evbs6pSx #CorporateGovernance #Leadership #Webinar

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Excellent article published today in The Currency by Tom Lyons, featuring Quintas Capital, highlighting the impact of our EIIS Fund on the Irish economy. Our EIIS Fund is raising €8 million to invest in up to six Irish businesses across sectors such as renewable energy, childcare, and healthcare - categories critical to Ireland’s social infrastructure. Investors can benefit from 50% tax relief, making this an attractive opportunity to support high-potential businesses while reducing tax liabilities. Please reach out if you would like to learn more.

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Department of Finance Ireland has published the latest in its series on SME Credit Demand Surveys which covers the period January-December 2023. This survey was conducted by Ipsos B&A, on behalf of the Department, and it is the most comprehensive survey of SME Credit Demand in Ireland, covering over 1,500 SMEs per wave. Some interesting insights are: 💡 Of SMEs surveyed, 18% applied for bank credit in 2023, broadly unchanged over recent years. The majority of those not applying stating they had sufficient internal funds (76%). Over the last decade, the share of SMEs applying for bank finance has fallen by around half, from 35% to 18%. 💡 Of the SMEs that applied for bank finance in 2023, 88% had their application accepted, with 11% denied and 1% still awaiting approval. This pattern was in line with previous years. 💡 16% of SMEs invested in climate-related activities during 2023, with the highest investment levels being seen for energy efficiency followed by new, less polluting technologies. 💡 Average interest rates reported by SMEs rose to 7.21% in 2023 compared to 5.13% recorded in April – September 2022. Get the full report here: https://lnkd.in/eD476Ghq #IpsosBandaSurvey #BeSure #DelveDeeper #Insights Jimmy Larsen

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📽️ Partner & Sustainability Lead, Janice Daly, CFA, outlines what the biggest opportunities for Irish businesses are when it comes to ESG/sustainability compliance, based on the recent Grant Thornton International Business Report. Full report: https://lnkd.in/dHAA-qGF #Sustainability #ESG #Compliance #IrishBusinesses

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Term loans are a staple for Irish businesses, offering a straightforward financing option with a fixed interest rate over a predetermined period. Yet, many encounter challenges such as loan inflexibility, difficulty obtaining desired funding at favourable rates, lengthy application decision times, and the uncertainty of securing funding in time for crucial opportunities. This post explores the landscape of business term loans in Ireland and introduces three viable alternatives tailored to your company's unique needs: revenue-based finance, invoice discounting, and line of credit facilities. Each option presents a solution to overcome the common hurdles faced with traditional term loans, ensuring your business has the agility and support it needs to thrive. Link to blog - https://lnkd.in/ezhfayav #Finance #BusinessGrowth #FundingSolutions #workingcapitalsolutions #businessloans #revenuebasedfinance #irishbusinessloans #businessexspansion #FinancialFlexibility #CashFlowManagement

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📈🌍 Equip your business with effective strategies to mitigate currency risks. This article offers crucial insights for Irish SMEs engaged in international trade, detailing how to navigate foreign exchange volatility and protect profitability. Discover the power of focusing on robust financial practices that can shield your operations from unforeseen currency fluctuations, ensuring greater efficiency and sustainable success. https://lnkd.in/emEbCxnJ

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Chartered Accountants Ireland has agreed a 3-year strategic partnership with GRID Finance, Ireland’s leading independent lender for small and medium businesses. This partnership will deliver a biennial GRID Finance SME Business Sentiment Survey co-created with Chartered Accountants Ireland in support of its strategic focus on the SME/SMP sector. GRID will also become a sponsor of the Institute’s schools Bootcamp “Be The Boss” Challenge, which aligns with both GRID’s and the Institute’s ethos of educating future business leaders and promoting financial literacy from a young age, as well as giving back to the community. Read more: https://lnkd.in/eryyAG7f Pictured (L-R) are: Eoin Christian, CEO, GRID Finance, Anastasia Myachina, BFP, FCA, Dip ESA, Commercial Partner Manager, Chartered Accountants Ireland, Cróna Clohisey, Acting Director of Advocacy and Voice, Chartered Accountants Ireland, Derek Foley Butler, FCA, Executive Chairman, GRID Finance, and Barry Doyle, President Chartered Accountants Ireland.

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GRID Finance partners with Chartered Accountants Ireland Eoin Christian , GRID Finance CEO, “This collaboration marks a significant step forward in supporting and educating businesses of all shapes and sizes across Ireland by combining GRID Finance’s innovative funding solutions with the trusted expertise of Chartered Accountants Ireland’ #irishsmes #flexiblefinancing #supportingirishbusinesses

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