Macra na Feirme is an organisation for young people aged 17-35 who are interested in meeting new people.  It is mainly aimed at young farmers. They run events in clubs nationwide and one of their main events is the National Leadership Awards which we sponsor.  This year’s winners of the Macra na Feirme National Leadership Awards were announced on 24th January at a reception in Mespil Road.

The winners, pictured, on the evening were (front row) Ann Marie Wade – South Tipperary, Garvan Hickey – Wicklow and Alison Holmes – Laois (back row) Alan Jagoe, Macra na Feirme National President, Mairead Lavery from The Irish Farmers Journal, Michael Lauhoff, Head of Small Business and Agri (BOI) and Damien O’Reilly from RTE.

Speaking at the Awards, Michael Lauhoff, Head of Small Business and Agriculture, Bank of Ireland, said: “Bank of Ireland is proud to be associated with Macra na Feirme in promoting and fostering the leadership of its young and vibrant membership”

The three winners were presented with Cuchulainn commemorative trophies and will be invited back to be presented with their certificates and cheques for €1,000 each.

All About Business is proud to support and promote the re-employment initiative, Hireland.

This is an initiative from people who own and work for Irish businesses, it aims to help kick-start a burst of jobs in Ireland.

It is a totally voluntary campaign which started out around a kitchen table last February, when a group of people got together and decided now was the right time to do something about the soaring numbers with unemployment. The project was set up by people who own and work for Irish businesses, with no lobbies or government affiliation – this group of people wanted to do something themselves rather than wait for something to happen.

The aim is for Irish businesses to pledge to a job, and hire a new employee to help combat the high unemployment rate and take a positive step to help recovery. There will also be no commercial gain and no profiling of the individuals or their companies.

In the space of just one week, Hireland has hit 1,500 job pledges from SME’s right across the country and the numbers are growing by the day.

Bank of Ireland & allaboutbusiness.ie are proud to show their support for Hireland

To find out more information, click here to be brought to Hireland’s website

The consensus forecast for global growth in 2012 has moved down in recent months, reflecting weak manufacturing data over the autumn and an expectation that growth in Europe will be very weak amid signs that the final quarter of 2011 saw GDP contracting in both the euro area and the UK. Indeed, some forecasters foresee both experiencing a mild recession before recovering some ground in the second half of 2012, although the December data implies some stabilisation.

The ECB has responded to what it now sees as downside risks to growth by cutting interest rates and we still expect further monetary easing, with the repo rate moving to 0.75% over the next few months. The Bank is also injecting huge sums into the money market, including the provision of 3 year funds, which may also ease government funding concerns as banks may well use this money, at least in part, to purchase government debt.

Inflation proved a common problem for most economies last year, largely reflecting higher energy and other commodity prices, and in the absence of an oil price spike inflation rates are likely to fall this year, so providing some support for consumers. This is particularly true in the UK and the Bank of England expects inflation there to end the year well below 2% from the current 4.8%. The BoE’s current forecasts are also consistent with further monetary easing, although with official rates already down at 0.5%, any additional measures are more likely to come in the form of more asset purchases.

The US, in contrast to Europe, has ended 2011 on a brighter note as evidenced by a pick up in consumer confidence and spending, an acceleration in the pace of employment growth and some signs that the housing market may have bottomed. The US manufacturing sector also proved more resilient than elsewhere, and did not experience the mild contraction seen in the global data, although December did see a return to expansion outside Europe. The unemployment rate in the US is still very high by recent historical standards, despite the recent move down, and for that reason the market is not expecting the Federal Reserve to raise rates until mid 2014, although the Fed now intends to publish its own rate forecasts to give further guidance.

The relative growth picture outlined above is not consistent with a significant euro appreciation in our view, although we would stress that the market positioning is unusually extended having established a large short position in the euro/dollar. On that basis, we would not be surprised to see a short-term euro rally at some stage, but still expect a rate between $1.25 and $1.30 to prevail over the coming months, with downside risks for the single currency. Against sterling the range may be 81-85 pence.

Dr. Dan McLaughlin

Check out our ‘Networking & Events’ section to pencil in some dates for your diary for the New Year!

Here at allaboutbusiness.ie we felt that the first blog post of the New Year should be a collection of some useful articles for a fresh start to the year.

1. New Years Resolution for your Business by Veronica Canning

2. Why the New Year is a perfect time to revisit your Business Plan by Alan Gleeson

3. New year, New Energy, New Opportunity by Johnny Beirne

4. New Years resolutions… You and Your Business by Gillian Horan

5. The Winter of our Discontent by Liz Barron

These articles should help get you on your way and kick start the New Year into action.

That may not be the case and we expect rates to fall to at least 0.75% in the near term. This would still be above that of the UK (0.5%) and the US (0.25%) and a number of developments may persuade the Bank’s Governing Council that there is nothing sacred about 1%. The ECB already believes that the risks to growth in the euro zone are to the downside and the data of late certainly points to the possibility of at least one quarter of negative growth – the euro’s composite PMI index picked up marginally in November, but the 47.0 reading was the third consecutive month below 50 and hence implying contraction. Analysts have also cut their forecasts for growth in the euro area, with the OECD now projecting a mild recession, with negative growth forecast for the current quarter and the first quarter of 2012. As a result euro growth is now projected by the OECD to emerge at only 0.2% for next year as a whole.

The stresses within euro markets have also intensified, despite the ECB injecting huge sums into the money market. That has pushed overnight rates down to 0.75% but banks are prepared to deposit money back to the ECB at 0.25% rather than lend to each other. The result is that market interest rates are much higher – 3-month cash is currently at 1.45% and 1-year money is over 2%. The ECB recently announced its intention to provide cash to the market for a 13- month period, a first for the Bank, and speculation has grown that it may soon announce even longer term liquidity provisions, perhaps up to 2 years. Moreover, the ECB , alongside the other major central banks, has just cut the rate it charges for supplying US dollars to the banking sector in a further effort to relieve financial strains in the euro area.

The high credit premium for banks in part reflects their exposure to euro sovereign debt and the stresses there have intensified of late. Indeed, the past few weeks have seen a new development – the selling of euro sovereign bonds has moved from the peripheral economies to the core, including Germany. Some might argue that a repo cut against the backdrop may not have much affect but it would be a signal that the ECB under its new President is more flexible than of old and aware of the gravity of the situation. For Ireland, monetary easing would also provide some offset to another round of fiscal tightening.

Dr. Dan Mclaughlin

Funding of 850,000 euro has been provided to EpiSensor, a Limerick based company that develops wireless sensor technology that reduces energy costs. The syndicated funding has been provided by the Bank of Ireland Start-up and Emerging Sectors Equity Fund, managed by Delta Partners, the AIB Seed Capital Fund, co-managed by Enterprise Equity, Enterprise Ireland and private investors.   The funds will enable EpiSensor to create new jobs and grow international sales.

EpiSensor has seen rapid growth since it was founded in 2007. Its wireless technology platform (SiCA) reduces energy usage and costs by providing data from wireless energy sensors that show where energy savings can be made. It has helped organisations in the pharmaceutical, medical devices, food processing and manufacturing industries to significantly reduce energy costs and the technology has proven to pay for itself within the first year. The system is designed and manufactured in Ireland.

EpiSensor will use the funding to grow sales in international markets and expects to create 10 new jobs in the area of sales and development. In particular, EpiSensor will be recruiting highly skilled individuals capable of operating to the highest standard with experience of doing business internationally.  Currently its systems have been installed in some of the world’s largest companies including IBM, Johnson & Johnson and Citigroup. The technology is presently monitoring 40 sites in Australia, more than 100 homes in Ireland, with customers also in the United States, Switzerland, New Zealand and Hungary.

EpiSensor is run by Gary Carroll and together with a strong management team they plan to take advantage of the new wave of wireless technology and embark on EpiSensors next phase of growth.

“The global potential for wireless energy monitoring systems is enormous,” said EpiSensor Founder and Chief Executive Gary Carroll. “Energy prices are rising and for organisations to control energy costs, they first need visibility of where and when energy is being used within their organisation. We provide accurate real-time energy usage data allowing our customers to make informed decisions to improve efficiency and reduce costs. The scale of the opportunity is truly global with identical problems needing to be solved throughout the world.”

Announcing details of the funding were left to right, Eithne Hassett, Senior Business Manager Bank of Ireland, Gary Carroll, CEO EpiSensor, Shay Garvey, Delta Partners and Brendan Carroll, Director EpiSensor.

Shay Garvey of Delta Partners said: “We see major potential for EpiSensor to become international leaders in wireless sensor technology. EpiSensor has developed a complete product range and has successfully deployed large-scale systems. With new products scheduled to be released in the coming months it will enhance the company’s ability to sell into areas such as water treatment, building management and smart metering which represent significant opportunities for the company.”

To read Shay’s article about “Writing a Business Plan” – click on this link

The theme of Bank of Ireland UK’s Enterprise Breakfast as part of Enterprise Week was Grow Our Own – A Bright Future for Farming, Food and SMEs so it was fitting that both the majority of attendees and speakers were from the fast growing Agri-Food sector inNorthern Ireland. The key speakers were Dr. Mark Browne representing the Northern Ireland Executive and Aiden Kearney, Fresh Produce Trading Manager of Musgrave Retailer’s N.I.

Dr. Browne opened proceedings for the invited speakers and delivered a positive and motivational talk on “Creating a vision for Agri inNorthern Ireland” outlining the Executive’s vision for a long-term strategy for the Agri-Food sector in N.I. This sector is demonstrating huge potential for the future judging by the growth it has and is experiencing  currently. Just some of the figures shared with the gathered SMEs and entrepreneurs were;

•             Employment is up in the sector by 6% with over 1100 jobs created in the Agri-Food industry in 2010 alone

•             Sales in 2010 grew by 8.3% – 70% of which went to export markets outsideNorthern Ireland

All this positivity is to be further enhanced by a £50m Agri Business Investment Fund created by Bank of Ireland UK which will assist in creating a strong foundation from which the Agri-Food sector can grow and prosper. In addition the Executive is showing its recognition of the importance of the sector to theNorthern Irelandeconomy through the creation of a Food Strategies Board whose task it will be to develop a long term strategy similar to the Harvest 2020 agri-food strategy implemented by the Irish Dept. of Agriculture, Fisheries & Food. Establishment of the Food Strategies Board in 2012 will realise a real partnership between government and industry in the Agri-Food sector. As such the overarching consensus from the event was that the Northern Irish Agri-Food industry is an exciting place to be at the moment with the opportunities and challenges presented making it a rewarding and innovative sector to be working in.

Aiden Kearney, Fresh Produce Trading Manager of Musgrave Retailer’s N.I. continued this theme when addressing the assembled business members on Musgrave’s vision for farmers, suppliers and producers inNorthern Ireland. Musgrave has a long proactive and engaged presence in Northern Ireland with over 60% of their goods sold sourced from producers and suppliers locally. Consequently the group is forthright and very enthusiastic about what SMEs in this economy can do for Musgrave’s business, and of course in return what Musgrave can do for the SMEs they work with. To illustrate Musgrave’s support of local agri-food businesses Aiden focused on McCormack Potatoes in Dungannon, Co. Tyrone. In 2008 McCormack’s showed initiative by proactively approaching Musgrave to pitch to become the group’s potato supplier of choice inNorthern Ireland. It was very much a case of “right place – right time” as Musgrave were looking for a new supplier. A deal was struck the result of which was by the end of that year (2008) McCormack’s had experienced sales of £100k through the relationship with Musgrave. Aiden was delighted to announce that this year would see this local producer experience sales of over half a million resulting from the partnership.

Aiden’s message to SMEs working in the Agri-Food sector was clear, “Look at what you do and make sure you do it well. Now look at it in the context of the current marketplace. Look outside the box to find other areas to target or ways of doing things. The opportunities to Grow Our Own are outside that box.” For McCormack Potatoes the initial seed has indeed grown with the support of Musgrave Retailers. The future is indeed bright for growers and producers inNorthern Ireland.

Bank of Ireland’s November 2011 Enterprise Week kicked off in Waterford’s Granville Hotel to a packed house.

The key note speaker was Dragon’s Den entrepreneur Norah Casey, CEO of Harmonia Publishing. Norah again emphasised the possibilities for young women to achieve anything in modern Ireland. When Norah spoke at the Women in Business Enterprise Week’s in May she stated that “showing them good role models is one of the best ways to do it”

Anne Marie Caulfield is the current President of the Waterford Chamber of Commerce and a retailer in her own right with Super Value supermarkets in the south and south-east of the country. The Waterford Chamber of Commerce represents over 600 member companies at local level and also their interests to government and other key stakeholders.

Also represented was Retail Excellence Ireland in the presence of the current chairman Kevin Jephson. Retail Excellence Ireland is Ireland’s largest retail organization. It’s members come together to learn from each other and to promote best business practices with a view to resolving how best to solve the challenges facing retails in the current economic environment.

All speakers were keen to emphasise how important it is to foster a supportive small business community within a local region. Small businesses generate economic activity and employment in communities and are key to the survival of these communities. As Kevin Jephson pointed out “People buy people first; products second”. In a local community this is key to giving customers a “compelling reason to shop with you”. Anne Marie Caulfield added to this by restating the message from government that “the domestic recovery is going to be primarily driven by the SME sector. Enterprise Week is all about this.”

All the speakers at this kick-start event were keen to stress that essential to this recovery are Participation, Engagement, Sharing & Networking with other businesses operating in the SME sector. As mentors they also stressed the importance of a solid, viable business plan backed by research of your target market(s). Waterford proved to be an excellent springboard into Bank of Ireland’s Enterprise Week for the entrepreneurial community in the south and south-east