Geraldine Magnier

In an independently produced survey with Amárach Research about business costs, small businesses were asked about the impact of rising business costs in the past 12 months. This survey revealed that 83% of small businesses in Ireland are facing escalating costs.   Moreover, 35% of businesses report that they cannot continue trading beyond six months without additional funding. David Broderick, Director of the SFA, underscores the severity of the situation: “The fact that over a third of small businesses will run out of liquidity within six months without any financial aid shows how cash-strapped they are. One in five small businesses have secured funding from friends and family to cope with rising costs. This is an alarming reality.”   Supporting small businesses, the lifeblood of our communities, is more critical than ever.   For the complete survey results and detailed insights, visit: https://lnkd.in/emuD69XM #SmallBusinesses #BusinessCosts #CostEscalation #SFA #SupportSmallBusiness Ibec Jonathan McDade Geraldine Magnier

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Looking to improve collaboration within your team? SharePoint, part of Microsoft 365, is designed to create collaborative workspaces for sharing resources and information efficiently. With 32% of Irish SMEs planning to increase staff numbers in 2024, streamlining workflows is a priority, and SharePoint can significantly enhance cooperation and productivity. Microsoft 365 for SMEs brings tools that allow for scalable growth and improved operational efficiency. SharePoint is exceptional at streamlining workflows, but there’s more to discover. Find out how to integrate the entire Microsoft 365 suite into your SME for maximum efficiency: https://lnkd.in/eQAtr6qb

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Do you know how crucial your income and spending habits are when applying for a mortgage? Lenders review your income and expenses over at least six months to assess repayment capabilities. Building a consistent saving habit and managing outgoings prudently can enhance your appeal to lenders. Reducing unnecessary expenses and boosting your savings are vital steps to secure a favourable mortgage offer. Financial stability is key. Learn more about how managing your finances can prepare you for mortgage approval as a first-time buyer: https://lnkd.in/enQ6eUbT

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🚀 Ready to elevate your business game? 🚀 Our latest blog post "Gain Competitive Advantage: Discover the Power of Digital Transformation for Irish SMEs" dives deep into how digital transformation is revolutionising the way businesses operate. 💡 With the rise of new technologies, Irish SMEs are embracing digital solutions to stay ahead of the curve! Curious about the secret ingredients that can catapult your business to new heights? Head over to the blog to uncover the magic! 🌐✨ Read more: https://lnkd.in/erFHWg2u Join the conversation - let’s discuss how digital transformation is shaping up your business!👇 #DigitalTransformation #IrishSMEs #TechInnovation #BusinessGrowth

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Today's webinar with Virgin Media Business Ireland Business owners fall into the trap of making decisions made on a healthy business bank balance. The "bank balance doesn't indicate the health of the business". It's a planning and forecasting tool. Great points being made by Robert Graham & Elaine Smith #backingbusiness #entrepreneurship #businessowner #finance #costs #vmbusiness

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As we face numerous challenges in the Irish economy, it's crucial to acknowledge and celebrate a fundamental strength of SMEs: their resilience. Resilience, the backbone of successful businesses, involves bouncing back and thriving in the face of adversity. It's epitomised by the ability to endure setbacks and keep moving forward, not just avoiding challenges. To enhance your business's resilience, consider these strategies: anticipate and plan for cash flow issues, as over 90% of SMEs experience such gaps. Stay adaptable to change and explore various income streams to reduce reliance on a single source. Supporting your team’s development and wellbeing, along with cultivating strong relationships with customers, suppliers, and partners, can provide a robust foundation for overcoming difficult periods. If you need "Simple, Fast, Flexible Funding to help grow your Business" get in touch with Declan Devlin today at 00353 1 691 7515 #FifoCapitalIreland #BusinessFinances #SupportingLocalBusinesses

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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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2 businesses per day closed in 2023, with a projected 3 per day in 2024. (That was the projection in Q1, but since there's been over 11,700 businesses served demand notices by Revenue in May regarding their tax debt warehouse situation. So the figure of 3 per day for 2024 may be conservative. We can no longer ignore or sideline the reality of the newer and more grave pressure small businesses are under now (that's 98% of all the businesses in Ireland). Calling on Govt to do a 'PRSI rebate' as proposed by Small Firms Association, so as to effectively support every small business in our country rather than just those who pay rates (ICOB - 'Increase in Cost Of Business' package, the €257m support scheme is only getting paid to rate payers.) #sme #smallbusiness Minister Peter Burke and Department of Enterprise, Trade and Employment

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💡 EMPOWER YOUR LEGACY - €50 DIY WILLS & PROBATE PACKAGE A staggering 70% of the Irish working population lacks a Will. 🇮🇪 Ensure your legacy is in safe hands with our €50 DIY Wills & Probate Package! 🏡 Simple Estates, Simple Solutions: For the 99% with uncomplicated estates, drafting your Will is easier than ever. No need for a solicitor's office; you can sign it at home with two witnesses. Empower your executor to handle Probate, a simple task, and save your estate thousands. 💼 Meet John Lowe: On August 4th, 2021, John Lowe launched this innovative service to enable thousands to draft their own Wills securely. Choose from 6 templates and order at https://hubs.ly/Q02WG-Js0 🚀 Save Time and Money: Our package includes 3 Word documents and 6 PDFs. Watch our explanatory video for a step-by-step guide. Once downloaded, edit as needed without additional costs. 🚨 Important Caveats: If unsure about your estate's complexity, seek legal advice. We don't provide legal or tax advice on templates. Learn more about Probate and the 4 Probate Steps on our website. Call us on 01 278 5555 to learn more! #LegacyPlanning #EstatePlanning #MoneyMatters

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Stay ahead in the Irish finance industry! 📊 Our latest Industry Insights Report explores key challenges and digital skill gaps. Essential reading for L&D and professionals in Finance. Download your free copy below 👇#cybersecurity #DataAnalysis #ai #upskilling #professionaldevelopment

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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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🎓 This week, I’m attending a series of masterclasses on various subjects, today was on how emerging tech can help SMEs and start-ups get ahead. Here are today’s top takeaways: Masterclass Insights: Growing and Protecting Our Businesses with Tech Thank you Daragh O Brien for the morning session. 1. AI: Boost Efficiency with Automation AI saves time and cuts costs by automating tasks and personalizing customer experiences. Tools like ChatGPT (https://openai.com/chatgpt) and Microsoft Co-Pilot (https://lnkd.in/e7u2sHnJ) integrate easily into workflows, while platforms like Airtable (https://www.airtable.com) and Zapier (https://zapier.com) automate without coding. 2. Cybersecurity Essentials The NIS2 Directive mandates cybersecurity practices for businesses with 50+ employees or €10M turnover to protect data and reputation. Start with basics like two-factor authentication and backups. Tools like LastPass (https://www.lastpass.com) and Cyber Essentials (https://lnkd.in/eS_ukuGS) add affordable security as you grow. 3. Data-Driven Decisions Use data to make smart decisions. Google Data Studio (https://lnkd.in/eshUGqhD) and Power BI (https://lnkd.in/eTHWnaQy) help you track what’s working and spot opportunities. 4. Customer Experience Matters Customers expect quick, personalized support. Tools like Intercom (https://www.intercom.com) and ManyChat (https://manychat.com) let you offer 24/7 service without adding staff. 5. Resources to Keep Costs Down Check out G2 (https://www.g2.com) for software reviews and Enterprise Ireland’s Innovation Vouchers (https://lnkd.in/exet56Nc) for funding to support R&D and tech projects. Final Thought: Tech can be transformative. Start small, focus on the tools that make sense, and use grants or reviews to keep costs down. More insights coming soon as I complete these very helpful masterclasses ! #AIforBusiness #SMEGrowth #Cybersecurity #DigitalTransformation

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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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