Thoughts and ideas on growing a business

Celtar comment

Where to get the best business advice?

New Enterprise Ireland team to aid potential exporters in the Irish Times today http://t.co/xwATN3Wl

Another positive initiative from Enterprise Ireland arising out of the Jobs Action Plan BUT one influential group is often ignored in supporting EI activities to stimulate economic growth – professional business advisers.

 These are professional and certified business consultants and other professional services advisers who assist companies in determining – and attaining –  their strategic goals.

Most leading management and business consultants in Ireland are members of the Institute of Management Consultants and Advisers, see www.IMCA.ie . Many hold the internationally recognised CMC* accreditation. These trusted advisors are often left out of the loop regarding building growth orientated SMEs, and they are ready and able to play their part in turning around our economy.

I suggest that accessing business consultants from overseas does not guarantee better quality support (and contributes to economic displacement).

“If you want quality business advice, go to professional business consultants, who have  indepth experience in offering practical solutions.”

Volunteer business mentors with no training, codes of professional conduct and no consultant insurance cover are not the answer for Enterprise Ireland, local chambers and other business development organisations.

“You pay for what you get” as one client remarked to me.

If you wish to access expert business consultants anywhere in Ireland check out www.IMCA.ie . On the site you can search for consultants by area of expertise, or make a general enquiry.

Billy Linehan, CMC 

billy.linehan@celtar.ie 

*CMC, Certified Management Consultant, accreditation from the International Council of Management Institutes, see www.icmci.org

 Export growth

We at Celtar have promoted information on how to access tendering for the London Olympics before. It is good to see that Enterprise Ireland are also actively involved.

Yesterday Enterprise Ireland announced that Irish companies have secured over €200 million worth of contracts for the London 2012 Olympic and Paralympic Games. Other Irish firms would have won contracts and are in the supply chain but may not have accessed assistance from Enterprise Ireland.

Irish firms won contracts across a range of sectors including construction, electronics, software, architecture and renewable energy [see the list of companies below].
Enterprise Ireland has been working closely with client companies and the UK based ODA (Olympic Delivery Authority) for a number of years to maximise the involvement of Irish firms in the delivery of the London 2012 Olympic Games.
  
The ODA is in Dublin today and tomorrow (April 13 and 14) to meet Enterprise Ireland client companies and discuss the remaining opportunities for Irish firms in preparation for London 2012.

The next development phase of the London 2012 involves the fitting-out of buildings and day-to-day running of the Games. Thousands of contracts remain to be won in areas including security, catering, mobile buildings, waste management and venue fit-out.

The chairman of the ODA, John Armitt, said: ‘Businesses of all types and sizes are helping to deliver the London 2012 Games and many Irish companies have already made the most of the golden business opportunities available.

‘While the bulk of the ODA’s direct contracts have now been awarded, there are still opportunities through the UK-wide supply chain and with the organising committee that will run the Games in 2012.

‘Companies should seize the moment and sign up to www.CompeteFor.com – the free online service enabling businesses to compete for contract opportunities linked to the London 2012 Games and other major public and private sector buying organisations – to be part of this once-in-a-lifetime opportunity.’

I agree with Frank Gannon of EI when he states “pursuing the substantial opportunities that are available in the UK at the moment can provide the perfect launch pad for Irish firms seeking export-led growth in overseas markets”.

The successful firms to whom contracts have been awarded are:
ABM Precast, Swords, Co Dublin.

Anord Control Systems, Dundalk Co Louth

Banagher Concrete, Co Offaly

Clearpower, Co Wicklow

Donseed, Co Kerry

Heneghan Peng Architects,

John Sisk & Son

Leinster Reinforcements, Athy, Co Kildare

P. Elliott, Cavan

Techrete, Co Dublin

Celtar Update – Enterprise Ireland’s Current Support

It’s not the best of times for Enterprise Ireland, the Irish state’s lead body for supporting businesses from SMEs to prospective Irish MNCs. Rightly there is a focus on support for exporting companies, though there is less concern shown about import substitution.

Below is a list of supports plus relevant links to the EI website

Billy Linehan, MD of Celtar Ltd, business and management consultants

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Enterprise Ireland offers a number of categories of funding designed to help expand business and grow exports: -

Enterprise Stabilisation Fund http://www.enterprise-ireland.com/AboutUs/Organisation/Enterprise+Stabilisation+Fund.htm

An initiative aimed at viable but vulnerable internationally trading companies to help them survive the current global downturn by supporting their drive to reduce costs and gain sales in overseas markets and to sustain employment.   Sustainable economic recovery will be driven by enterprises focused on increasing their exports of innovative products and services in global markets.

Funding to explore new ideas/new markets http://www.enterprise-ireland.com/Grow/Finance/FundingforExploringNewOpportunities.htm

Preliminary funding to explore new ideas/new markets, including feasibility studies (ordinary, CORD, GreenTech Support, EU 7th Framework), recruitment of a key manager, assistance towards hiring a business mentor, attendance at trade fairs, market research and consultancy (strategic and GreenTech Support consultancy), and training which includes the supply chain management initiative.

Funding for Start Up companies http://www.enterprise-ireland.com/Grow/Finance/Standardhighpotentialstartupcompany.htm

The High Potential Start Up package matches the financial needs of a new company, by providing finance as the business gets started and by sharing the risk.

Growth Funding http://www.enterprise-ireland.com/Grow/Finance/Growth+Fund.htm

The Growth Fund is designed to assist SME clients to achieve greater competitiveness by improving their export potential.  This will be achieved by increasing both their gross output and gross productivity, while also providing new employment or maintaining existing employment levels.  There are 3 components to the offer:

• Stimulating Business Innovation http://www.enterprise-ireland.com/ResearchInnovate/Productivity+Improvement/Stimulating+Business+Innovation.htm

• Growth Fund http://www.enterprise-ireland.com/Grow/Finance/Growth+Fund.htm

• Growth Expertise http://www.enterprise-ireland.com/ResearchInnovate/Productivity+Improvement/Growth+Expertise.htm

R&D Offer

The R&D funding supports market-led innovation in manufacturing and services companies. The offer has five elements designed to support manufacturing and services companies;

• Stimulating Research & Innovation http://www.enterprise-ireland.com/ResearchInnovate/R+and+D+in+your+Enterprise/RandD+Stimulation+Grant.htm

Aimed at companies that are new to product, process and service development activities, these financial supports, including the R&D Stimulation Grant, allow companies to explore how research & innovation can drive their future development.

• R&D Fund: Small Projects http://www.enterprise-ireland.com/ResearchInnovate/R+and+D+in+your+Enterprise/RandD+Stimulation+Grant.htm

The R&D Fund: Small Projects is a provision under the R&D Fund to support product, process or service project R&D where the expenditure amount is less than €150,000.  This may be companies undertaking R&D for the first time or companies progressing R&D activity in the business.

• The R&D Fund http://www.enterprise-ireland.com/Grow/Finance/R+and+D+Fund+2008.htm

Supporting innovation in services, products and processes.
Companies that are ready to progress to larger projects or want to set their own research agenda can apply to Enterprise Ireland’s R&D fund which supports market-led innovation in manufacturing and services companies.

• Collaboration http://www.enterprise-ireland.com/ResearchInnovate/R+and+D+Collaboration/

Companies can also get funding for collaborative research projects with other companies.

• Innovation Expertise http://www.enterprise-ireland.com/ResearchInnovate/R+and+D+in+your+Enterprise/Expertise.htm

• Funding for company expansion http://www.enterprise-ireland.com/Grow/Finance/FundingforCompanyExpansion.htm

Billy Linehan of Celtar the leading firm of business advisers comments

“we welcome  measures from Enterprise Ireland that will stimulate economic growth. This measure will be judged on it’s accessability to companies AND how well it is designed to meet their needs.”

Targetted at Irish exporting companies, EI should also remember that support for import substitution of goods or services is equally valid.

On Friday 15 May 2009, Hugh Cooney, Chairman of the Board of Enterprise Ireland, said: “Irish exporting companies are our best prospect for trading our way through the recession and that is why we have increased the number of major Trade Missions to fifteen this year in addition to twenty international trade related events. Also we have also established the Enterprise Stabilisation Fund aimed at helping companies to sustain and develop their business during these difficult times.”

Check out http://www.enterprise-ireland.com/AboutUs/Organisation/EI_Tough+economic+times+-+How+we+can+help.htm

“If you find that exporting companies are experiencing pressure on cash flow or facing challenges in the marketplace please encourage them to get in touch with Enterprise Ireland to discuss how the Enterprise Stabilisation Fund can help. We need to sustain our internationally trading companies now and position them for growth when the upturn comes.

“Ireland and Irish companies have to work hard to continue to secure sales in the face of tough markets and increased global competition. In this environment, securing new sales contracts depends on a continued commitment to technology, innovation and the application of knowledge that is unmatched in the markets where we compete.

“I have every confidence in our companies.  They have shown themselves to be remarkably adaptable in the current volatile economic environment. And this will be a crucial factor in sustaining exports and growing new sales in 2009 and beyond.” Hugh Cooney said.