Industry & Business

Brexit

UK Brexit paper welcome, but major challenges remain – Ibec

    UK Brexit paper welcome, but major challenges remain – Ibec

Ibec has welcomed the aim of the UK government to avoid customs checks on the island of Ireland and develop streamlined or new customs arrangements with the EU in two new Brexit position papers. However, the group cautioned that a UK departure from the EU customs union would present very serious challenges to achieving these […]

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Tourism Minister briefed on Brexit in London

    Tourism Minister briefed on Brexit in London

In a recent visit to London, Minister of State for Tourism and Sport, Brendan Griffin met with the Tourism Ireland team, where he was briefed on the organisation’s 2017 promotional programme and the possible implications on travel of the decision by the UK to leave the EU.
Great Britain is a vital market for tourism to […]

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Ibec forecasts strong economic growth & employment increases

    Ibec forecasts strong economic growth & employment increases

Ibec has published its latest Quarterly Economic Outlook, which forecasts growth of 4.2% for 2017 and 3.2% in 2018. A strong labour market, in particular, will underpin the buoyancy of the domestic economy, but Brexit related trading challenges will remain for exporters. This will be a particular challenge for the regions, with Ibec analysis showing […]

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Mid-year review of overseas tourism 2017

    Mid-year review of overseas tourism 2017

Official CSO figures for the first half of 2017 confirm growth of +4.2% in overseas visitors to Ireland, 182,000 arrivals more than the record first half of 2016. At the recent mid-year review of overseas tourism, Minister for Transport, Tourism and Sport, Shane Ross and Tourism Ireland CEO, Niall Gibbons, confirmed that this growth has […]

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Companies not taking advantage of stable environment to plan for Brexit

    Companies not taking advantage of stable environment to plan for Brexit

The latest quarterly (April – June 2017) InterTradeIreland Business Monitor Report, shows that, despite the UK voting to leave the EU 12 months ago, the proportion of companies with a plan in place to deal with the potential outcomes of Brexit has remained static at 2 per cent. Alarmingly, this figure only increases to three […]

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Over 4.2% growth in overseas visitors for January-June 2017

    Over 4.2% growth in overseas visitors for January-June 2017

Commenting on figures published by the CSO for overseas visitors to Ireland for January to June, Niall Gibbons, CEO of Tourism Ireland, said: “I am pleased to see growth of +4.2% for the period January-June, coming on the back of a record performance in 2016 and years of solid growth in overseas tourism. It is encouraging […]

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Resources for Budget 2018 €400 million more than estimated

    Resources for Budget 2018 €400 million more than estimated

Ibec has called on the Government to show further ambition in meeting Ireland’s critical infrastructure and demographic needs. Launching the group’s Budget 2018 submission, Ibec said that the Government has more within its power to spend on investment in much needed infrastructure, education and training, if it so chooses.
Speaking at the launch of the submission, […]

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Bank of America to locate EU legal entities to Dublin

    Bank of America to locate EU legal entities to Dublin

IDA Ireland has welcomed Bank of America confirmation that it has chosen Dublin as the preferred location for its principal EU legal entities following the UK’s departure from the EU. Bank of America celebrates 50 years of operation next year in Ireland and Dublin is the home of more of its employees than any other […]

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‘Ireland’s stability seen as a strength in an uncertain world’

    ‘Ireland’s stability seen as a strength in an uncertain world’

Address by Martin D. Shanahan CEO, IDA Ireland at the MacGill Summer School
Uncertainty is the “mot du jour” or more accurately the “mot de l’année”. It pervades the global, the political, the economic, and the business environments and it is to the forefront of the minds of investors. This uncertainty is driven by geo-political developments, […]

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Barclays to continue passported activity post-Brexit

    Barclays to continue passported activity post-Brexit

Barclays has announced that it plans to use its licensed EU subsidiary to allow it to continue passported activity post-Brexit. Martin Shanahan, CEO of IDA Ireland said: “This announcement by Barclays to extend activities at their Dublin base is a further endorsement of Ireland’s strong offering to the International Financial Services Sector.
“Ireland’s access to the […]

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Underlying growth in Irish economy remains robust

    Underlying growth in Irish economy remains robust

Ibec, the group that represents Irish business, welcomed the publication of new national accounts published today by the CSO which show that the economy continues to grow strongly despite the challenges of Brexit. GDP in Q1 2017 grew by 6.1% annually, reflecting strong leading indicators. There are some worrying elements to the figures, however, with […]

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Sharp increase in jobs saved through examinership

    Sharp increase in jobs saved through examinership

New data released to mark the end of the second quarter of 2017 has shown a sharp increase in jobs protected in examinership cases as businesses in Ireland face increasing uncertainty. The latest Baker Tilly Hughes Blake Examinership Index revealed that 112 jobs were saved through the examinership corporate recovery mechanism in the second quarter […]

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Ireland is fifth most open economy globally

    Ireland is fifth most open economy globally

According to ICC Ireland, Ireland is currently ranked fifth in the International Chamber of Commerce (ICC) Open Markets Index highlighting the importance of international trade for the Irish economy.
Commenting on the ICC Open Markets Index, Ian Talbot ICC Ireland Secretary General said: “Ireland ranks fifth globally, an improvement of one place since the last publication of this […]

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2% of British businesses support a ‘no deal’ negotiation option

    2% of British businesses support a ‘no deal’ negotiation option

One month on from the General Election, the British Chambers of Commerce (BCC) has published a post-election survey of over 2,400 companies, which shows that while businesses have a range of views on their preferred objectives for the UK in Brexit negotiations, there is almost no support to conclude UK-EU talks without a trade deal.
Asked […]

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IDA half-year results very strong despite global investor uncertainty

    IDA half-year results very strong despite global investor uncertainty

IDA Ireland, the inward investment agency of the Irish Government, has reported a very strong first half of 2017. Investments approved by IDA in the first half will lead to the creation of over 11,000 (9,100 in 2016) jobs as companies roll out their plans over the coming months and years. Ireland won 114 projects […]

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Musgrave announces profit of €73m for financial year 2016

    Musgrave announces profit of €73m for financial year 2016

Musgrave has announced its results for the financial year 2016. The Group reported sales of €3.7 billion and profit before tax of €73 million. Net cash was €121 million and shareholder funds were €249 million at year end.
Commenting, Chris Martin, Musgrave Chief Executive said: “2016 saw a strong performance by Musgrave benefitting from investment in […]

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Sky News to open Dublin bureau

    Sky News to open Dublin bureau

Sky News is opening a bureau in Dublin to strengthen its presence in Ireland. UK Political Correspondent at Sky News Darren McCaffrey will become Dublin Correspondent and will be permanently based in the capital alongside a dedicated crew to cover Irish breaking news stories as they unfold.
John Ryley, Head of News at Sky, commented: “With […]

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Irish and UK retailers highlight Brexit challenges

    Irish and UK retailers highlight Brexit challenges

Retail Ireland, the Ibec group that represents the sector, has joined forces with the British Retail Consortium and the Northern Ireland Retail Consortium to explore the implications for the sector arising from Brexit. They will meet in Dublin with a number of Government Departments, consumer advocates and individual retailers to seek solutions to mitigate the […]

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Brexit: Challenges with solutions

    Brexit: Challenges with solutions

Ibec has launched a comprehensive set of proposals to progress EU-UK negotiations and limit the negative impact of Brexit on business and the wider economy. In advance of the launch of “Brexit: Challenges with solutions” in Ibec Head Office, Ibec CEO Danny McCoy said the surprise UK election result offered a fresh opportunity for the […]

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CSO figures for overseas visitors in Q1 reflect challenge of Brexit

    CSO figures for overseas visitors in Q1 reflect challenge of Brexit

Commenting on recent CSO figures for the first quarter of 2017, Niall Gibbons, CEO of Tourism Ireland, said: “Despite strong growth in visitor numbers from North America (+13%) and from long-haul markets including Australia (+16%), a decline of -7% in British visitors has led to an overall drop of -1% in overseas visitors to Ireland […]

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Investment in small firms increasing despite Brexit concerns

    Investment in small firms increasing despite Brexit concerns

The Small Firms Association (SFA) today released new data on the finance and investment priorities of small firms. Launching the new data, SFA Chair, Sue O’Neill, stated: “It is very positive to see that 51% of SFA members are growing and 72% intend to invest in their business over the coming year. This is up […]

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Irish CEOs see disruption as opportunity for their business

    Irish CEOs see disruption as opportunity for their business

A new survey by KPMG has found that the majority of Irish CEOs (90%) see disruption as an opportunity, not a threat, to their business. While just four in 10 Irish CEOs are confident about growth in the global economy, 84% say they are confident about growth in the domestic economy and 93% are confident […]

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Irish business model leads to exceptional jobs growth in Q1

    Irish business model leads to exceptional jobs growth in Q1

Ibec, the group that represents Irish business, welcomed today’s exceptionally strong jobs numbers published by the CSO as a sign of the strength and substance behind our business model and that the economy was weathering Brexit uncertainty very well. Worries that weaker than expected income tax receipts signalled a slowdown in employment growth will be […]

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“Prepare for Brexit” roadshow launches in Waterford

    “Prepare for Brexit” roadshow launches in Waterford

As part of a nationwide Brexit roadshow, Enterprise Ireland hosted a ‘Prepare for Brexit’ forum at Studio 1 of the WIT Arena in Waterford. Part of Enterprise Ireland’s #PrepareforBrexit campaign, the Waterford event features speakers from SMEs, large companies and innovative start-ups, including Joe Connolly, CEO, Connolly Red Mills, Robert Byrne, Sales Director, Burnside Eurocyl […]

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Enterprise Ireland client company exports increase by 6%

    Enterprise Ireland client company exports increase by 6%

Enterprise Ireland has announced that its clients recorded export sales of €21.6 billion in 2016, representing a 6% increase on 2015. Export growth to the UK, however, which accounted for €7.5 billion of exports, slowed from 12% in 2015 to 2% in 2016. The slowdown was largely due to a decline in food exports.
Speaking at […]

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InterTradeIreland launches Brexit Advisory Service

    InterTradeIreland launches Brexit Advisory Service

A dedicated InterTradeIreland advice service aimed at helping SMEs navigate the challenges of Brexit has been launched. Businesses will be able to access a raft of supports from the Brexit Advisory Service including Brexit Readiness Vouchers which they can use to fund bespoke advice up to the value of €1000; free Brexit briefing events; information […]

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Brexit to intensify competition for investment

    Brexit to intensify competition for investment

Following a meeting with EU chief Brexit negotiator Michel Barnier in Dublin, Ibec CEO Danny McCoy welcomed the awareness of Ireland’s unique Brexit exposure and said Irish concerns now need to be directly and explicitly addressed in negotiations and in the terms of a future EU-UK trade deal.
“Brexit is not only likely to disrupt trade […]

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Final call for entries to €280,000 Seedcorn investor readiness competition

    Final call for entries to €280,000 Seedcorn investor readiness competition

InterTradeIreland is calling all start-ups and early stage companies across the island to enter the Seedcorn Investor Readiness Competition before the deadline on 26 May 2017. In addition to being in with the chance to win a share of the €280,000 total cash prize fund with no equity stake taken, shortlisted firms will also benefit […]

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Minister Mitchell O’Connor publishes survey on Irish SMEs views on Brexit

    Minister Mitchell O’Connor publishes survey on Irish SMEs views on Brexit

The Minister for Jobs, Enterprise and Innovation, Mary Mitchell O’Connor has published the findings of a survey of 1,045 SME business owners which was conducted in January by Behaviour & Attitudes and has set out a number of actions being developed to support SMEs in responding to the challenges of Brexit.
Minister Mitchell O’Connor said: “While […]

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Bring capital beyond the capital – Financial Services Ireland

    Bring capital beyond the capital – Financial Services Ireland

A recently-held conference in Limerick for local business leaders, hosted by Financial Services Ireland (FSI), explored how the Mid-West can become a finance hub, if the objectives of the Government’s International Financial Services (IFS2020) strategy are realised and if regions get their fair share of economic growth post-Brexit.
Speakers at the conference, Making the Mid-West a […]

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Quick EU-UK exit deal vital so trade talks can begin

    Quick EU-UK exit deal vital so trade talks can begin

Ibec has said new EU Brexit negotiating guidelines reinforce the need for an early agreement on UK exit terms to allow substantial trade talks begin. Ibec welcomed the significant achievement in the explicit recognition of the unique risks that Brexit poses to Ireland. For business, however, massive uncertainty remains. The government must work closely with […]

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Calls made for free trade agreement between EU27 and UK post Brexit

    Calls made for free trade agreement between EU27 and UK post Brexit

FoodDrinkEurope, the EU organisation of the food and drink industry, met in Dublin recently to call for a comprehensive free trade agreement between the EU27 and the UK post Brexit. The group met with An Taoiseach Enda Kenny, Minister for Jobs, Enterprise and Innovation Mary Mitchell O’Connor and Minister for Agriculture, Food and Marine, Michael […]

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Cork businesses report strong start to 2017 despite Brexit uncertainty

    Cork businesses report strong start to 2017 despite Brexit uncertainty

Cork Chamber’s first quarterly economic trends survey of 2017 reviewed activity over the closing months of January, February and March. The survey, which was conducted by Cork Chamber during April 2017, highlights the confidence and practicality underpinning the Cork business community.
Cork Chamber CEO, Mr. Conor Healy, in commenting on the survey findings, stated: “It is […]

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ISME report shows uncertainty around Brexit

    ISME report shows uncertainty around Brexit

The results of the ISME Quarterly Business Trends Survey for the first quarter of 2017 show a decline in the exports sector and an overall decline in profitability expectations for the SME sector. However, there are improvements in the overall confidence indicator index with positives in five of 12 areas. The Trends report also looks […]

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Government action needed on EU tendering opportunities – ISME

    Government action needed on EU tendering opportunities – ISME

Last month, ISME, the Irish Small and Medium Enterprises Association identified that billions of euro in tendering opportunities would open in the years ahead for Irish business as a result of Brexit. As a consequence of Brexit, British companies are being frozen out of the EU tendering process because they will not be EU members […]

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Minister Breen leads 25 companies on trade visit to Antwerp

    Minister Breen leads 25 companies on trade visit to Antwerp

Pat Breen, Minister for Employment and Small Business is leading an Enterprise Ireland trade visit to Antwerp in Belgium. The aim of the trade visit is to promote Ireland’s extensive experience and capability within the high-tech construction and engineering sectors. The programme provides four key networking opportunities for the 25 participating Irish companies to make […]

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Calls for Dublin to Belfast one-hour rail link

    Calls for Dublin to Belfast one-hour rail link

Foreign Affairs Minister Charlie Flanagan intends to seek money for a ‘rapid rail link’ between Dublin and Belfast as part of the Brexit negotiations. He added that a special fund may also be needed to help improve our ports as the country looks to diversify trading partners. “I’d like to be able to see rail […]

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