Chamberlink Issue 4 2019 by Cork Chamber

chamberlink ISSUE 04 2019

Apartment viability

be Brexit Ready

connecting Cork

in this issue COVER Story 10

Viability of Apartment Construction puts Economic Growth at Risk

TRANSFORMING CORK

Let’s Talk Training

Budget 2020

Cork’s Friendliest Business 2019 - Nano Nagle Place

What will we do with our Carbon Taxes

International Connections - Events & Business Matching

In the Chair with Carol Lynch, BDO

Clearstream IT and Cork Innovate Together

Connecting Cork - feature 13

Reflecting on... A City Rising

EMPOWERING YOU

to the fourth edition of Chamberlink 2019. Brexit is unfolding by the minute and both the Irish Government and European Commission are actively updating guidance for business. Along with our colleagues in Chambers Ireland we keep an active webpage of Brexit resources. If you’re not already engaged in Brexit planning, get it done. There are multiple reports and guidance documents available from responsible bodies but ultimately, each company and individual is accountable for their own planning. Despite this shadow, we press on together. In this edition we address the central asks of our Budget 2020 campaign, including the need for proactive steps to enhance the viability of apartment construction. We begin

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the first of a two-part series on our Connecting Cork international relations activity. The requirement for forward facing positive outreach has never been more compelling. We have an active programme of events, from a business breakfast with Alan Fox of Free now, our Women in Leadership Executive Lunch with Network Cork, and our Dublin Dinner in association with EY. Our Cork Digital Marketing Awards entrants are battling for victory and the one and only Cork Company of the Year offers unrivalled recognition for the most excellent of organisations. We take a deep dive on our Advancing Leadership Certificate in Business Coaching, one of the many avenues available to stoke your enthusiasm and progress your career with Cork Chamber Skillnet.

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Finally, for the most organised among you looking to the year end, our Chamber Gift Card is the perfect way to give back to Cork, reward your staff and drive our local economy.

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TR AN S FO R M I N G CO R K

Budget 2020 Described in Government circles as the ‘Brexit budget’, the Finance Bill for 2020 is a tricky balancing act. On the one side, there is growing frustration among businesses and citizens about the cost of living and delivery of infrastructure to improve our national competitivness and to make life in Ireland that bit better. On the other side, uncertainty regarding the agreement of a withdrawal deal to avoid a Brexit fall-out and the associated economic and social consequences thereof, makes it near impossible to accurately forecast and plan for next year’s budget. In the middle of both lies Ireland’s questionable record on climate and the impending EU fines that we will be paying for missing our 2020 carbon reduction targets. That’s €150m worth of fines that could be invested elsewhere. In preparing for Budget 2020, the Department of Finance forecasts GDP growth of 3.3.%. However, it also warns about increasing risks to our economy, including a greater likelihood of a no-deal Brexit outcome; a risk of overheating in the domestic economy; a deterioration in international trade; and heightened vulnerabilities around corporation tax revenues. When factoring in projected growth, spending commitments and other variables, Government expects a total of €700m to be available for allocation in Budget 2020. Unless additional revenue raising measures are introduced, that is. Budget 2020: Where to invest? According to your feedback on our latest economic survey, Government should prioritise public services and public investments. Next in the list of priorities are measures to improve business confidence. Ranked bottom on your list of priorities are income tax cuts. Our pre-budget submission to Government makes specific recommendations on improving Cork and Ireland for business. We touch on some of the key topical areas here. Our full submission is available to read on our website. As in previous years, the budget will be presented by the Minister for Finance on October 8. Three weeks later, on October 31, we will know for certain whether Budget 2020 will be remembered as the Brexit Budget or perhaps the Climate Budget.

Affordable Apartments

Among our recommendations on the public investment side are a suite of measures to incentivise the construction of affordable apartments in our urban centres. Housing and rental accommodation is now a top threat to growth among businesses in Ireland. In member meetings, we hear about the struggle to retain and attract staff. We know that there is huge demand among employees to live in city centre rental accommodation close to where they work. Yet, despite this demand, it remains unviable for developers to construct apartments and therefore new central apartment developments are not happening. In a recent survey, an overwhelming 91% of members favour the introduction of timebound measures to stimulate the construction of more urban accommodation. Together with the CIF Southern Branch we have commissioned EY-DKM Economic Advisory to assess the viability and affordability of apartment building in Cork City. This report contains 16 policy options for Government to consider in order to bridge the existing viability gap of constructing apartments, which all form part of our budget submission.

Cutting Childcare Costs

The high cost of childcare often means that for parents, and especially lone parents, it does not make economic sense to work after having children. Irish Childcare costs remain among the highest in the OECD for both couples and single parents. The participation tax for women with two children in Ireland who must pay for childcare is a staggering 94% as highlighted by the Tax Strategy Group, which in turn has a significant impact on female workforce participation.

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The challenges of retaining women in the workforce inhibits diversity and constrains the labour market. This has been highlighted as a concern by Cork Chamber’s members and is in part attributed to the difficulty employees face in accessing affordable childcare. By ensuring access to affordable, high-quality childcare services (including after-school care) throughout the country, we can reduce living costs for families, enhance female labour market participation, address the gender pay gap, improve the outcome of children, and increase Government revenue through a higher rate of labour force participation. Our budget submission recommends further investment in the National Childcare Scheme and continued financial commitments to ensure that childcare is adequately financed in the long term.

Indigenous Growth

In addition, tourism is Ireland’s largest source of indigenous employment which accounts for 4% of GDP. Brexit is the greatest challenge to face Irish tourism since the global economic recession of 2008 where the value of the UK market fell by 23% in the space of 12 months. To help the tourism sector sustain jobs in Cork and beyond, we ask that Budget 2020 includes further funding for tourism product development and that additional monies be set aside for the Tourism Ireland regional access fund for 2020 onwards to support market diversification away from the UK.

Going Green

Attending the National Economic Dialogue this summer (a meeting between Government departments and interest group representatives) much of the budget discussion was centred on climate change and carbon tax.

Ireland’s tax system should ensure that innovators, investors and entrepreneurs are recognised as contributors to growth and are taxed fairly. The Programme for a Partnership Government includes a commitment to increase the value of the Earned Income Credit to €1,650 to match the PAYE credit. We recommend that this measure be introduced in full as part of Budget 2020.

With the Climate Action Plan 2019 just recently published, Government have made significant commitments to decreasing our collective national carbon footprint. It is imperative to all activity, including economic activities and future growth, that behaviours and policies are changed. To do this, we need supportive policies and opportunities for businesses to make this transition nationwide.

Our Capital Gains Tax rate is a disincentive to setting up business in Ireland for both foreign entrepreneurs, and arguably acts as an incentive to off-shoring for domestic entrepreneurs. Consequently, Ireland’s CGT rate dampens business activity and causes stagnation in terms of scaling, investment, and the purchasing and selling of businesses that is needed for Irish indigenous industry to grow. Our budget submission proposes that our rate of CGT is reduced to allow Ireland to compete more favourably with the UK, which in turn will stimulate further investment. We note the observation of the Tax Strategy Group in 2019 that moving to a 25% rate over a two to four-year period has a total estimated cost of €272m (in the absence of behavioural changes). However, the group also notes that a rate of 25% would position Ireland near Norway and Denmark for international competitiveness, and would bring benefits from increased transactions, an improved environment for business, enhanced economic activity and growth, increased Exchequer revenues, and assist in new company formations. To encourage domestic entrepreneurial activity, we recommend that Budget 2020 aligns our Entrepreneur Relief with that of the UK including value and lifetime limit.

Responding to our recent survey on budgetary measures to address climate change, more than half of businesses (52%) expressed support for prioritisation of funding for public and sustainable transport. A quarter of respondents (23%) favoured tax incentives for electric cars, while only 12% favour the introduction of carbon tax. In Budget 2020, we ask that existing and future revenues from Carbon Tax are specifically ring-fenced to aid the transition to a low carbon economy. Currently, Irish Carbon Tax of €20 per tonne generates €440 million per year going directly to Government’s main treasury account. We contend that revenues generated from existing carbon taxes be ringfenced immediately and reinvested to support infrastructure upgrades to the national energy grid, the decarbonising of public transport, support for commercial and residential retrofits, and the enhanced deployment of electric vehicle charging infrastructure with a priority for areas that are either poorly served or indeed not served at all. Any green tax introduced should support policy interventions and increase the affordability of alternatives to our current carbon intensive lifestyles.

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Cork’s Friendliest Business 2019 Nano Nagle Place The JCI Cork Friendly Business Awards in association with the Clayton Silver Springs Hotel, The Echo and the Cork Chamber were held recently. Nano Nagle Place, located in the heart of the city on Douglas Street, awarded Best for Community Impact also scooped the overall title of Cork’s Friendliest Business 2019. Award Winners: • Best Age Friendly - Table Top • Best Customer Care - Alchemy School of Yoga • Best Digital Experience - Leanun Designs • Best in Disability Access - Scally’s SuperValu • Best Eco-Friendliness - Organico Bantry • Best Layout & Design - Wild Designs

Shane Clarke, CEO Nano Nagle Place being presented with the award by Eileen O’Donovan, President JCI Cork and Lord Mayor, Cllr. John Sheehan, also photographed is Niamh Dorgan, JCI Cork, Nicola Cullinane, The Echo, Deirdre Griffin, Cork Chamber, and Norina O’Callaghan, The Clayton Hotel Silversprings.

In its twelfth consecutive year, the JCI Friendly Business Awards serve to recognise friendly businesses, ones that go that extra mile and provide outstanding customer service for their customers and their community, and who provide quality services at an exceptional standard. The seven winners will now go forward to represent Cork in the JCI Ireland national FBAs in Westport, Mayo in October.

Local Goverment Awards 2019 The Excellence in Local Government Awards showcase best practice in local government and recognise the skills, hard work, innovation and enthusiasm within local government that can often go unrecognised. The Excellence in Local Government Awards, held in conjunction with the Department of Housing, Planning and Local Government, will take place in November. Cork City Council and Cork County Council have been shortlisted across a number of the award categories, as follows: Age Friendly Initiative * New Category 2019 • Cork City Council – Friendly Call Cork Supporting Active Communities • Cork City Council – Cork Learning City • Cork County Council – Blackwater and Creativity in County Cork Best Practice in Citizen Engagement • Cork City Council – Shape Your City Voter Registration & Information Initiative Health & Wellbeing • Cork City Council – Cork Sanctuary Runners • Cork County Council – Teen Talk with Cork County Council and Healthy Ireland

Local Authority Innovation • Cork City Council – Arus Mhuire Rightsizing Housing Project Sustainable Environment • Cork County Council – Avoncore Estate Regeneration Project Best Library Service • Cork City Council – A Journey Called Home • Cork County Council – “A Sound Initiative” at Cork County Library Sustaining the Arts • Cork City Council – Live at the library: Music for the community! • Cork County Council – The West Cork Fit-Ups Theatre Festival Festival of the Year • Cork City Council – Cork Lifelong Learning Festival 2019

Supporting Tourism • Cork City Council – The Lee Sessions

Outstanding initiative through the Municipal Districts • Cork County Council – Community Fund Scheme

Promoting Economic Development • Cork County Council – Bridge to Masschallenge Cork Programme

Heritage and Built Environment • Cork City Council – Set in Stone Workshop

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what will we do with our carbon taxes? Ireland is consistently missing national and international carbon emission reduction targets with Greenhouse Gas emissions nearly three million tonnes outside the pathway identified to meet 2020 targets. Even from a purely economic perspective, the cost of inaction is far off balance with the benefits of action considering the financial penalties payable of up to €150million yearly. Ireland is missing out on opportunities to shift to a clean energy and tech society, and the benefits that this will bring to our wider economy, society and environment. Cork Chamber recently made a submission as part of the public consultation on the Use of Carbon Tax Revenues. In this, we called for certainty,

requesting that the final approach adopted for the application of a Carbon Tax increase clearly state the long-term pathway, providing clear timelines and detail on the application of this tax increase to 2030. Without a doubt, if we are to meet new energy demands, measures such as retrofitting homes, investing in the grid and generating renewable energy will be essential for Ireland’s sustainable future. We need a strong policy framework and supports, and the removal of barriers to this transition. We called for any tax increases to be applied in a way that is fair and equitable for business and communities to make this transition, and in a way that negates fuel poverty and social

You can keep up to date on Cork Chamber submissions to public consultations via CorkChamber.ie

inequity. Cork Chamber added support for the ring-fencing of existing and future revenues from the Carbon Tax to aid a fair transition for all to a low carbon economy. Due to the scale, challenges as well as opportunities, the ring-fencing of funds should be used to accelerate this transition, with the tax revenue clearly directed to support policy interventions and to increase the affordability of alternatives.

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International connections International Events and B2B matching opportunities Enterprise Europe Network organises brokerage events/B2B matching, trade missions, conferences and workshops across Europe and internationally. Participating in an Enterprise Europe Network event could be your first step towards developing international business opportunities- meeting potential business partners and learning how to expand your business in Europe. Since its launch in 2008 the Network brought more than 90,000 companies to international brokerage events and company missions. Although participation in trade fairs can play a decisive role in opening up international markets, meeting the right people and initiating lasting relationships takes a lot of planning and thought. Enterprise Europe Network aims to support companies to maximise their return on investment by focussing on targeted research and preparation. Trade fairs and exhibitions provide great opportunities for manufacturers and service providers to exhibit their state-of-the-art products and services. They are also a chance to analyse market tendencies and competitors’ products: nowhere else can a company compare its own products with those of its competitors as easily as at exhibitions. Meeting in a single place also provides the opportunity to talk to importers, distributors, sellers, agents, etc., which gives you the opportunity to get an overview of the world market and at the same time find out about current trends and the latest technologies in your sector. A number of the world’s most established trade fairs take place on mainland Europe and attract world wide exhibitors and companies. Specifically, the Enterprise Europe Network organises different types of businessoriented events:

Business Matchmaking / Brokerage Also known as business ‘speed dating’ – bringing together businesses and other organisations looking for partners to take their projects forward. EEN brokerage events are designed to allow delegates to book 1-2-1 meetings with other participants. They often take place alongside international trade fairs and conferences. This is a great way to maximise the value of your trip, not only can you post an online profile, but you can also secure meetings in advance, providing structure to your visit. Trade Missions Also known as company missions – they are international visits for small groups of businesses. These tailormade missions lead to many successful partnerships thanks to thorough preparation and local knowledge. Your business can either travel abroad to meet potential business partners or receive delegations from other countries. Conferences and Workshops Conferences, training sessions, seminars and workshops can help you prepare your business for international partnerships.

Planning and Preparation Most of us have heard the saying, you fail to prepare, prepare to fail but how can you put this in practice when preparing for trade shows? Committing to an international trade show is a sizeable investment. Having a clear understanding of what you want to learn from the visit, will help keep you focused and support you to reach your goal. Decide whether to visit or exhibit – consider visiting the event first and taking an exhibition stand in year two. Perhaps you want to take the opportunity to market research with customers on a new product feature, perhaps you want to explore new opportunities in the market, or perhaps you want to research tactics your competitors are using?

Whatever your research aim, plan out your objectives: • Prior to attendance • On-site at a trade show • Post trade show – plan your follow up! Follow up immediately after the event and ensure measurement and evaluation mechanisms are in place to assess the success of the trade show attendance. Be patient! It is unlikely that sales will materialise immediately afterwards, treat this as the first stage in nurturing a relationship.

How can we help? Whether you are exhibiting or attending an international trade fair make sure that you maximise the support available to you from the Enterprise Europe Network and government agencies. Work with local organisations (for eg. contact the EEN network member or Chamber of Commerce in your selected destination). A ‘Technical Assistance for Micro Exporters’ grant is also available through all Local Enterprise Offices to help more small businesses explore, develop and unlock new overseas markets for their products and services, within Europe and beyond.

Below is a highlight of upcoming EEN supported events. International matchmaking event ‘TCI Antwerp 2019’ on cluster development, regional competitiveness and innovation support, Belgium, 8 October tci2019antwerp.b2match.io BioXpo VitaSana, the trade fair for the organic sector, Belgium, 14 October 2019 bioxpo2019.b2match.io Life Science Partnering 2019, Innsbruck, Austria, 28 October 2019 lifescience-partnering2019.b2match.io For a full Enterprise Europe event listing go to: een.ec.europa.eu/events

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IN THE CHAIR with Carol Lynch, Partner BDO Customs and Trade As the Brexit deadline looms once again, there is a concern that Irish companies importing or exporting goods to/from the UK are not fully aware of the changes that will affect their business once the UK leaves the EU. We asked Carol Lynch, Partner with BDO Customs and Trade, about how she would advise companies to be prepared. How prepared are Irish businesses for Brexit? A lot of businesses are doing their best to prepare by attending LEO training, and working with EI, InterTrade Ireland and Bord Bia. However a significant number of businesses have not yet registered for a customs number known as an EORI number - and this is concerning.

How can companies establish whether their imports/exports will be subject to higher tariffs post-Brexit? You should check on Taric what the duty rate for imports is and on the Market Access Database (https://madb.europa. eu/madb) for temporary UK tariffs.

What is the key thing that Irish exporters should be doing now to Brexit-proof their business? In BDO, we have prepared a 9 point plan which covers the basic steps every business should take as a matter of priority (see box on right).

What obligations should importers from the UK be aware of? You need to ensure you have all the information necessary to lodge an Import Declaration and all the relevant authorisations.

How do you see import/export procedures changing post-Brexit? Post Brexit, companies will need to lodge import and export declarations (SADs) and pay duty and import VAT. There are reliefs available for cash flow purposes, such as deferred payment authorisations and postponed VAT accounting, however these need to be looked at immediately to ensure they are in place before the Brexit deadline.

To do this you need to confirm firstly the tariff classification of your product.

If you are importing food or agri products you will have seperate compliance obligations and may need to register with Department of Agriculture, Food and the Marine (DAFM) and provide up to 24 hours notice of your intended import. If your products are certified by a UK body, will this be an issue in the future? Yes, you will need to check that you have appropriate EU certifications and labelling in place, as well as REACH registration from an EU certified body.

For more more information go to www.bdo.ie/en-gb/industries/prepare-for-brexit

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Ensure you have a Customs Registration Number (EORI). Establish whether you need to obtain a Deferred Payment Account and, if so, put in place a guarantee provision with your bank to cover the duties that are going to be suspended. Ensure your tariff classifications are 100% correct and, from this, confirm the duty rates that may be payable. Ensure you have a clearance agent to lodge Customs Declarations on your behalf. Talk to your suppliers and customers to confirm who is acting as Importer and/ or Exporter of Record for your purchases and sale. If you trade in Agricultural goods, and particularly if those goods are of animal origin, then additional vetinary checks and certs will be required, along with additional time frames for notifying Customs of imports. Ensure you are registered with DAFM and comply with new UK import requirements. Review your VAT position in Ireland and the UK. As a VAT-registered entity you can avail of simplifications with regard to accounting for VAT on import. This will significantly benefit cashflow. Seek advice if you import from or export to Northern Ireland as special rules will apply. Check if you qualify for UK Simplified Import procedures Confirm if you qualify for the UK Transitional Simplified Procedures

Cov e r Story

Viability of Apartment Construction Puts Economic Growth at Risk A new report commissioned by Cork Chamber and the Construction Industry Federation (CIF) and produced by EY-DKM Economic Advisory has found that the cost of construction of new apartments in Cork city is not viable and is threatening future economic growth in Cork and Ireland’s other cities. The report uses real cost appraisals for four different apartment schemes across Cork by leading national developers, which could proceed to planning tomorrow if they were viable. Combined, the four schemes would deliver over 1,000 much needed apartment units. The report finds that the total delivery price of a new apartment in the city is far above the price that a first-time buyer working couple can afford. This analysis is based on looking at “hard” costs which are made up of the physical construction of the build, and “soft” costs, which are made up of other elements such as admin and marketing costs, consulting fees, financing and site acquisition costs. Meanwhile, the economic impact assessment found that a third of the total sales price of a new apartment goes directly to the State. The projected sales price of a new two-bed apartment in Cork city ranges from €389,000 to €486,000, meaning that a first-time buyer would need an income of between €100,000 and €125,000 to afford such a home in Cork city, the Docklands or suburbs. The same buyers would also need a cash deposit of between €39,000 and €49,000 to secure a mortgage. When looking at the viability of built-to-rent apartments, the report found that the average monthly rent would need to be €2,500 for a twobedroom apartment in Cork city and €3,000 for a three-bed apartment in order to ensure viability.

“Ireland 2040 will not be delivered upon unless this viability gap is bridged and we need immediate government action. We have to build apartments where prices reflect the reality of the salaries of the people living in them and the growing demand for city centre living. Only then, can we achieve the goal of sustainable, vibrant and less cardependent cities.”

As Ireland’s second city, Cork has the potential to develop as a vibrant urban centre of both national and European significance, however our analysis shows that the housing supply shortage it is facing is presenting a major obstacle to future employment, economic growth and FDI, as well as to regional tourism and the quality of life in Cork city and the wider region. The Government’s Ireland 2040 project predicts that the Metropolitan Area’s workforce will grow by 65,000 by 2031, but both Cork Chamber and CIF are warning that the ability to accommodate these new workers in a compact city will be challenging until the viability issue is addressed. An estimated 97% of all apartments built in Cork were built before 2010. Commenting on the report, Cork Chamber CEO Conor Healy said, “Apartment building has emerged as the number one issue for our members as they look to the future. As Ireland’s fastest growing city, Cork needs 27,300 new housing units by 2031 to meet employment growth. We know that as many as 19,000 housing units could be built on zoned lands across the city. However, new homes have to be affordable. The Ireland 2040 plan sets out an exciting blueprint for growth, but that growth cannot happen without addressing costs and closing the viability gap that has been clearly identified, and that is holding back apartment development across Irish cities.”

CIF spokesman Conor O’Connell says costs outside of developers’ control are having a significant impact; “The current cost of delivery means that it is not possible to construct affordable new city centre apartments for the average renter or buyer. Unless the total cost of apartment delivery comes down, new apartments will remain unviable and developers will not be able to build housing that satisfies demand in local markets.” To deliver on Ireland 2040, the report by EY-DKM Economic Advisory recommends a total of 16 actions, including; •

The immediate extension of the Help to Buy scheme from December 2019, which provides a rebate of up to €20,000 for first-time buyers of new properties. The Government should consider a more targeted scheme, with higher rebates, for new apartments delivered in the city centre/ docklands and suburbs.

•

Expand the Living City Initiative to provide tax relief for owners and small scale investors, to encourage apartment construction in Cork city.

Cov e r S tory

•

Waive the Section 48 (and 49, where applicable) development levies for city centre designated areas for a short-term period of up to two years to encourage apartment development. This would reduce the cost of a 77 sqm apartment by around €5,300 in total. Reduce the cost of Irish Water’s charges for apartment developments as there is less infrastructure required for apartments than for housing on greenfield sites, yet charges are the same. Government should consider contributing towards the water services costs for the provision of water services to the apartment development, which amounts to €5,089 per unit, for schemes with over 100 units. Reduce VAT from 13.5% to 9% for a short-term period of two years.

In advance of Budget 2020, Cork Chamber and the CIF are consulting widely with Government, local authorities and elected representatives to highlight the implications of this viability gap for all of Ireland’s cities.

Member Comments “We partner with some of the most disruptive tech companies in the world. They love Ireland, the business landscape and start-up ecosystem it offers, but they won’t invest if it’s a place that fails to offer their people a high standard of living. Let’s fix it now before it’s too late!” Dan Kiely, Voxpro CEO and Founder “Attracting talent to Cork has never been an issue, however in order to continuously win Inward Investment we need to ensure we are developing attractive and affordable accommodation in central locations. As the fastest growing city in Ireland over the next 20 years, Cork is experiencing unprecedented development in prime office space and hotel accommodation. Unfortunately, this is not proportional to housing or apartment availability.” Bryan Hyland, Morgan McKinley “We have done the hard work of building the Cork brand and creating the various clusters of excellence but if the staff can’t get to work and don’t have a place to live then we will fail. As leaders we cannot limit the success of what Cork can be.” David Brosnan, Clearstream

Pictured Sarah Thatt-Foley, Senior Public Affairs Executive with Conor Healy, CEO Cork Chamber and Conor O’Connell, Regional Director, Construction Industry Federation

“Improving the viability of developing apartments in Cork city centre is critical to meeting the sustainable urban growth objectives of Project Ireland 2040.” Rónán Ó Dubhghaill, Vice President for External Relations, UCC “Housing is now a critical success factor for any company seeking to attract and retain key talent. We need to reduce the uncertainty, combat rising rents, and maintain the right levels of available accommodation or we risk becoming uncompetitive in the global marketplace. The ideal scenario from an employer’s perspective is that housing and office space planning needs to be an integrated exercise. In the long term, co-siting of the work and living environments reduces the requirements on public transport and makes it an attractive proposition for the working population.” Mark Fitzgerald, Senior Director, VMWare

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Clearstream IT and Cork Innovate Together For Clearstream in Cork, this is a time of transition. Our Cork Operations moved to Navigation Square, Albert Quay in June of this year. This change is very exciting for us – making us the largest employer in the city centre. It shows the incredible development of our location here in Cork, which has grown both in size and scope over the past five years. Clearstream, as part of Deutsche Börse Group, first came to Cork when the opportunity opened up to acquire Citco Global Securities Services, a hedge fund custody infrastructure provider. The starting point was in April 2014, with 300 new employees joining the Group. Today, staffing in Cork is up to about 480, around 20 per cent of Clearstream’s workforce worldwide. Indeed, Cork has become our primary location for Investment Fund Services (IFS) operations activities.

Information Technology: at the heart of Deutsche Börse In addition, Cork has also become a key IT location – and a centre for IT excellence – for all of Deutsche Börse Group. Market infrastructure providers are, first and foremost, technology businesses. Stateof-the-art IT solutions are at the heart of all Deutsche Börse Group offerings – in pre-trading, trading,

and post-trading alike. With regard to new technologies, Deutsche Börse IT is focused in particular on cloud adoption, DLT/blockchain as well as automation/AI. Investments in such new technologies are a key pillar of Deutsche Börse’s growth programme, Roadmap 2020, as they hold great potential for the financial industry. In this context, Deutsche Börse and Microsoft have recently reached a significant milestone for cloud adoption in the financial services industry. This strategic partnership is setting new contract standards in the EU financial services industry, allowing the launch of regulated workload on Microsoft cloud services in Europe and bringing innovation to mutual customers.

Cork: a great location for IT

Cork is a very attractive location for us and will continue with its positive development. After Brexit, Cork will become the second-largest English-speaking city in the EU. On top of that, the high quality of life in Cork, coupled with career development opportunities, allows us to attract high-calibre talent. At Deutsche Börse, we’re excited by the opportunities and potential to shape and contribute to our corporate vision to further exploit blockchain technology, robotics and

David Brosnan Managing Director of Clearstream Global Securities Services Limited

digitisation. With our highly skilled and well-educated talent pool, we will play an important role in the transformation of Deutsche Börse IT, including the expansion and implementation of new technologies. We’ve grown – and expect to continue to grow – IT functions outside of the investment funds space in Cork, such as Data Warehouse, Product Development and SAP Operations and Development. We are engaging with both University College Cork and the Cork Institute of Technology to partner with future courses and provide internships. In addition, given Cork’s drive to become a cybersecurity hub within Europe – Deutsche Börse are engaging with other cybersecurity players within Cork to become a part of that drive and to cooperate with other industry leaders to move things forward. We are excited to go on this journey together.

Reflecting on... A City Rising “To watch a city rising is a beautiful thing”- the poet Tom McCarthy’s wonderful turn of phrase in describing 21st century Cork is also an apt description for the current phase of development that is ongoing in the region. As Ireland’s second city region, Cork is projected to be the fastest growing region in Ireland in the next 20 years. Cork in 2019 is very much an international gateway to Europe situated between the USA and Asia-Pacific markets. Although, Cork has a strong track record in attracting investment with over 170 foreign investors and a positive cando attitude that inspires confidence - it is not resting on its laurels! Cork is thriving with new builds both north and south of the river. The scale of current development sees over a million square feet of office development either under construction or in planning. Our vision is to see these developments complemented by the integration of a new and improved public transport initiatives, high-density

residential developments, and continued investment in green spaces and public realm projects, which will revitalise areas of cities that have long been underutilised. Such new developments will critically support Cork’s offer of vibrant and compact city-living and contribute to an excellent quality of life, making the city even more attractive to new international talent and investors. Cork is competing at a global level for foreign direct investment. Since 2016, the Chamber’s ‘Connecting Cork’ initiative has been supported by our industry partners. We have

been working together to grow Cork’s international profile and ensure that any company expanding its international footprint, knows that Cork is an ideal hub to guarantee access to the European market. We asked our Connecting Cork partners to contribute to a two part feature in Chamberlink. In this issue we highlight the new infrastructure projects in the city and in the next edition we will focus on the current business sentiment in the city and the growing international profile of Cork.

Looking Upwards

RDJ

John Dwyer, Partner, Head of Property and Real Estate Group, Ronan Daly Jermyn: “By its nature, development is a risk game and typically operates on the principle of “build it and they will come”. The quality of what is on offer in Cork is really attractive to tenants and gives the city a major advantage in attracting inward investment and jobs. Such inward investing businesses demand modern high quality workplaces and are much more likely to commit to a region where the office buildings are actually under construction. The availability of Penrose Dock and Horgan’s Quay for occupation will be a big plus for Cork.

This current phase of intensive construction and development also highlights the new property development model where developers require scale and expertise to both deliver the type of high quality projects we are seeing in Cork but also give the parties providing the capital the confidence to back them. Along with financial incentives to increase the supply of housing stock, “big sky” thinking on building heights is also required. It is becoming clear that it was a serious mistake not to allow Dublin to go higher. It is important that Cork learns from this and new

development goes skyward where appropriate. Maybe then, it will truly be a city on the rise!’’

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Reflecting on... A City Rising Penrose Dock / JCD Group Penrose Dock is JCD Group’s largest city centre project to date at €125m and has been designed to tastefully accommodate and retain in full the historic 12,000 sq. ft. Penrose House. It adjoins the Horgan’s Quay/ HQ mixed used development and the two adjacent developments are the first schemes of any scale north of the River Lee. John Cleary, CEO of JCD Group: “We believe this development holds huge potential for Cork and can help transform this area of the city. Since Brexit, Cork is now competing for mobile investment with European cities like Barcelona and Bratislava, rather than with the likes of Manchester. Having travelled to see many similar schemes in other progressive cities around the world we feel that the design, location and overall offering of Penrose Dock will prove very attractive to Technology and Financial Services companies that are looking to grow their existing footprint or invest in Cork for the first time. These companies wish to offer their

employees the very best places to work, which are easily accessible from a public transport perspective and close to amenities such as gyms, bars, shops and restaurants.”

Horgan’s Quay / Clarendon Properties and BAM HQ Developments, a joint venture between Clarendon Properties and BAM Properties is well under way at Horgan’s Quay. This 6-acre development comprises a 120 bed hotel, 310,000 sq ft of offices, over 200 apartments, retail, and leisure facilities. The HQ Development was home to a number of industrial buildings from the 1800s and this project is delicately managing a mix of old and new with the original building design, which is a testament to the developer’s ambition for this “new” old part of Cork City. The Carriage Shed built in 1857 will accommodate retail and restaurant uses adjoining the hotel. Its eastern cut stonewall will provide the backdrop to the hotel bar and lobby. To the south of the hotel, the Goods Shed which occupied most of the site was a state-of-the-art logistics centre when it was built in 1855. A considerable part of this building is being salvaged including the 9-metre high Cork limestone wall and an entire bay of the original warehouse that will retain the original trusses. At the western side of the site, what was left of the old Stationmaster’s building is being renovated. This building was built in 1860 of local white limestone.

In its heyday the western side of the building was an elegant colonnade of twenty Doric columns forming a covered way 200 feet long at the entrance to the original terminus. Its new use will be to accommodate leisure facilities for the apartment occupants at the centre of the residential scheme. The areas in between these three distinctive elements will be taken up by three new public plazas and will provide a more direct pedestrian link into the city through this design-driven new development.

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Navigation Square / O’Callaghan Properties The first building of four in the Navigation Square development has recently been occupied by Clearstream, part of the Deutsche Börse Group, and the second block is also close to completion. The full Navigation Square development includes a total of 350,000 sq ft of Gold Leed, Grade A offices on Albert Quay at the gateway to the Docklands. It is four separate buildings, each of which is designed differently, and will host some 3,000 employees when fully occupied. Brian O’Callaghan, Managing Director, O’Callaghan Properties: “There is a really strong development momentum in Cork city at present and a growing realisation that the cost of doing business here is much more competitive than Dublin across a range of critical metrics, especially the price of commercial property, which is about 50% of that in Dublin. With effective marketing and the full delivery of the Government investment programme for Cork as outlined in Ireland 2040 strategy, I think Cork is well placed to kick on to become a city of scale and a genuine counterbalance to

Dublin in the post-Brexit era. We should be operating confidently in that belief.”

Westfield Office Quarter & Park Place / O’Flynn Group A new 65,000 sq ft Grade A office building, One Westfield Office Quarter has been launched by O’Flynn Group. The site forms part of the phase two office scheme in the overall Ballincollig Town Centre development which was master planned and developed by the O’ Flynn Group. The Westfield Office Quarter presents an opportunity for an occupier to have a prominent HQ style office building located 9km west of Cork city centre with excellent accessibility via the N40 Ballincollig By-Pass and a 24 hr public bus service from Ballincollig to the city centre. One Westfield is part of a 6 acre site in total with full planning permission for 285,000 sq ft of office accommodation. In addition, O’Flynn Group have successfully obtained planning permission for an additional office development on the last remaining commercial site at Eastgate in Little Island. This scheme will provide 130,000sq ft Grade A headquarter office space across three buildings in a campus style setting. It is located on a pivotal site at the entrance gateway to the park and onto the N25 motorway and adjacent to the rail network.

The design detail and construction of the Park Place scheme is currently being advanced with the potential for fit out and occupation in 2020.

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UPCOMING EVE NTS See more at CorkChamber.ie

September Business Breakfast

Women in Leadership Executive Lunch

October Business Breakfast

in association with Irish Examiner

Network Cork and Cork Chamber

in association with Irish Examiner

Date: Time: Venue: Cost:

Tuesday 17 September 7.30am - 9.00am Clayton Hotel Cork City €25 Members/€50 Non Members

Alan Fox is the newly appointed General Manager of FREE NOW (formerly mytaxi). He is responsible for the company’s commercial, operational and business development activities across Ireland and has been very successful in leading the business through a busy period of rapid growth, with customer acquisition as the key pillar of their growth strategy. This summer, Alan was at the forefront of mytaxi’s big rebrand, which is now FREE NOW. FREE NOW is the first service from the BMW/Daimler joint venture and the NOW group that is live. Don’t miss out on this great opportunity to get an insight into the progressive career journey of Alan Fox and the strategies he pioneered along the way.

Friday 4 October 12.00pm – 4.00pm Cork International Hotel €49 Cork Chamber & Network Cork members / €59 for nonmembers

Cork Chamber, in partnership with Network Cork, are delighted to host our annual Women in Leadership Executive Lunch. This year we welcome Helen Arnold as our keynote speaker, an inspirational leader, award winning business owner, motivational speaker and co-owner of TVM. TVM, a successful family-owned independent outside broadcast company in Ireland, is owned by Helen and her husband and is based in Fermoy. Their customers have included ESPN, Sky, BBC, TG4, Setanta Ireland, RTÉ, TV3, and various production houses. This is a must-attend networking event, featuring a great mix of Network Cork and Cork Chamber members, which always sells out.

Date: Time: Venue: Cost:

Cork Chamber is delighted to welcome Colin Hunt, Chief Executive Officer of AIB and Executive Director on the AIB Board to our October Business Breakfast. Colin joined AIB in 2016 as Managing Director, Wholesale, and Institutional & Corporate Banking Division. Prior to joining AIB, he was Managing Director at Macquarie Capital where he led the development of its business in Ireland. Colin has a Phd in Economics from Trinity College, Dublin and degrees in Commerce & Economics from University College Cork. He served as a Non-Executive Director of Aer Lingus Group plc from 2008 to 2014. Don’t miss out on the opportunity to hear about Colin’s impressive academic and professional career progression!

Cork Digital Marketing Awards Friday 11 October, 6.30pm–11.30pm Cork International Hotel

Finalists will be announced week commencing 23rd September 16

Tuesday 15 October 7.30am - 9.00am Páirc Uí Chaoimh €25 Members/€50 Non Members

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Cork Chamber’s Dublin Dinner in association with EY Over the past eight years, this national black-tie event has grown to become one of the most popular and prestigious events in our calendar, attracting over 600 business thought leaders, political decision makers and dignitaries. This key event celebrates Ireland’s two biggest city regions. Internationally, cities are attracting more people and investment with Cork and Dublin leading the way nationally. Looking ahead, Ireland’s two main cities will remain central to our future growth and prosperity as a nation by becoming home to more people, developing new employment opportunities, and driving our national economic growth. We are delighted to have the continued support of EY as the headline sponsor of the dinner.

Book now for the opportunity to build countrywide connections, enhance existing business relationships, celebrate the best of Irish business, or simply entertain your clients, prospects and colleagues at a networking dinner not to be missed!

Please book now to avoid disappointment.

Date:

Time: 7.00pm – 11.00pm Venue: Clayton Hotel Burlington Road Cost:

CORK COMPANY OF THE YEAR AWA RD S 2 0 2 0

Tuesday 26 November

€150pp / €1500 for a Table of 10 ** BLACK TIE **

We know you are always moving forward. Driving innovation. Growing your team and reach. The Cork Company of the Year Awards recognise and celebrate your success. Launch and call for entries is September 30th in Glandore, City Quarter, Cork. Closing date for completed applications is Thursday 24th October 2019.

CorkChamber.ie 17

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Connecting YOu Networking at N oon Cork Chamberâ&#x20AC;&#x2122;s second Networking at Noon event of the year was held in the new offices at Clearstream, Navigation Square. Members enjoyed a busy afternoon of networking whilst taking in the beautiful views of Cork City.

Justin Cronin, Coolgrey with Roisin Flynn, Imperial Hotel and Andrew Whitaker, Culture CoWorking.

Networking in Clearstream

Sarah Cooney, Cork Beo during her Soapbox pitch to attendees at the event

Summ e r Gar de n Party

We held our Summer Garden Party 2019 in association with Westboro Partners in the gardens of the Maryborough Hotel. Providing an opportunity to leave the business cards at home for a fantastic night of food, music and great company!

Conor Healy, CEO Cork Chamber; Paula Cogan, President of Cork Chamber and Mary Power, Managing Director, Westboro Partners.

Orla McAndrew, Orla McAndrew Catering; Michelle Dunne, Betcon and Sandra Looney, To Have and To Hold.

Deirdre Griffin, Cork Chamber; John Grant, Fitzgerald Actuarial and Triona Grant.

Stephen McCarthy, Bibby Financial Services; Karen McCarthy, Bibby Financial Services; Susan Exshaw and Mark Exshaw, NatRoss.

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Annual Golf Classic 2019 Cork Chamber’s Annual Golf Classic in association with Lexus Cork kicked off bright and early at the beautiful Castlemartyr Golf Resort on 29 August. The winning team, AIB, scored an impressive 107 on the day! The Charity ‘Hole in One’ raised €1,420 which was split between Pieta House and Dress for Success, the charities were picked out of a hat on the night. 1

Annual Golf Classic 2019 Sponsored by

1 Conor Healy, CEO Cork Chamber; John Lehane, Lexus Cork and Paula Cogan, President Cork Chamber. 2 AIB team members Owen Madden and Stephen Collins receiving their first place prize from John Lehane, Lexus Cork. 3 Out on the course Dave Hopkins, Mark Hopkins, Hopkins Communications and Conor McGrath, MSL Engineering. 4 Eugene Barrett, Pat Morley, Niall Barrett and Mark Hegarty (EY team)

5 6 7 8

Ted Dwyer, John Lucey, Eamon Dwyer and Stephen Barry (Invesco team) Denis O’Leary, Pat Hogan, Bernard Madden and Ross Twomey (Henry J Lyons team) Margaret O’Connor, Cornstore; Conor Healy, CEO Cork Chamber; Paudie Lehane, Lexus Cork and Mary Arigho, Lady Captain Castlemartyr Golf Resort. APEX Funds Services team receiving their 3rd place prize from John Lehane, Lexus Cork; Brendan Comerford, General Manager, Castlemartyr Resort.

Ballymaloe Foods Brown Thomas Café Velo Castlemartyr Resort CPL Resources/Recruitment Electric Erin Hampers Everyman Theatre Fota Golf Club Franciscan Well Brewery HEINEKEN Human+Kind Irish Examiner Just for Men, Manscaping Lounge Kilkenny Shop Lee Valley Golf Club Musgrave Group NRG Health & Fitness PepsiCo Radisson Blu Little Island The Cornstore The River Lee Hotel Trigon Hotels

CorkChamber.ie

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Let’s Talk Training In March 2019, Sinéad Creedon took part in our QQI level 6 Advancing Leadership: Certificate in Business Coaching course. The course took place over 5 days from March to May and culminated in a practical presentation and assignment. Sinéad talks to Kate Murray, Cork Chamber Skillnet Training Executive about her experience. Why did you decide to take part in the Advancing Leadership Coaching Course? My initial thought was to address team communication (I work in a very busy medical centre) but also to understand more about how I communicate with my colleagues, my family, and my friends. Did you have any reservations when thinking about booking? Not really, maybe just the timing but I found it very manageable. I work fulltime and I run a very busy household. Now I think if I can do it anyone can do it! What were your expectations going into the course? I expected to have improved my awareness of how I communicate with others, to look at my own strengths and weaknesses and those of my colleagues and understanding how best to communicate with each other going forward. And I think I’ve more than achieved that really. I’ve started doing the personality assessments with my colleagues in work, so it’s been very valuable. Did the course meet your expectations? The course more than met my expectations. The group that did the course with me were outstanding; a very diverse group and of course the trainer Pat, from Greater Heights was a fantastic facilitator. We gelled straight away. We did a lot of personal work together, and a

Cork Chamber

lot of it is a journey as well, and I didn’t feel uncomfortable for a second. The content of the course was amazing; there was something for everyone there. Not everybody took everything from it, but everybody took something from it.

allocating the time to do the work and schedule out time for yourself. For me the practical coaching sessions and the assignments were very doable, you just need to be organised. It’s a course that anyone can do really.

How did you find coaching your peers? It’s a strange thing at first when you don’t know people but we had a really good group and it wasn’t uncomfortable, it was a very beneficial process being coached by your peers, and coaching your peers, and everybody got something from it. Everyone improved some aspect of their leadership as a result. If you follow the process, then you reap the rewards.

What effects did the course have on your work? I know it sounds a bit of a cringey thing to say, but it was kind of life changing. It really makes you stop and think so you don’t automatically launch into a conversation, or an answer, or a solution to something. It definitely improved my communication with my colleagues and improved how we do performance reviews. I’m more mindful of how to broach a subject or an issue at work, considering everyone’s input and how everyone interacts with each other.

What did you think of the practical and theoretical mix? The practical coaching sessions are paramount to learning as this is what coaching is all about. But it’s the theoretical aspect which I became very interested in, in terms of the how and why it works, and why coaching benefits so many people from all walks of life. What was the most challenging aspect of the course for you? Working full time, and managing a busy household. I have 2 teenagers and a little guy, and a husband, dealing with college, exams, the whole lot and I thought ‘I’m just going to do it.’ And I did. I suppose you just have to be aware entering into a course like this of what it entails, just

Would you recommend this course to others? Yes, I couldn’t recommend it highly enough. Everybody managing teams of people should do it. I would say it is actually an essential Level 6 QQI for everybody managing teams.

“T

If you were to speak to someone about to take part in the course, what advice would you give them? Go for it, be open minded, work with the process and make time for yourself. Don’t think twice, just do it. Where do you see yourself in the future after taking part in this course? Coaching will become a big part of my life going forward. I hope to leverage my strengths as a leader and maybe later on do some private practice work. Upon completion of the Skillnet course, Sinéad has applied for the MSc in Applied Psychology Coaching in UCC.

Upskilling You For more information on this or any other courses contact kate@corkchamber.ie

his programme is designed to provide those in managerial roles with the relational skills to lead colleagues towards achievement of advanced workplace performance. With a focus on developing interpersonal awareness, personality dynamics and emotional intelligence, the programme provides participants with the capability to facilitate superior outcomes across workplace, career and personal settings” , Pat Lyons, Trainer, Greater Heights

INTRODUCING

Our city is on the rise. The fastest-growing region in Ireland needs a media brand that will keep up. Introducing Cork Beo - a fresh, new voice dedicated to our vibrant and diverse city and county.

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members

Leading Irish law firm, Comyn Kelleher Tobin (CKT), has announced three new Partners across their Healthcare and Medical Law, Employment and Commercial Property practices in Dublin and Cork. The rapidly expanding Irish-owned firm has more than doubled in size in recent years due to the development of an existing client base and the acquisition of a Dublin practice in 2018. Pictured Deborah Moore, Managing Partner (2nd from right) with new Partners are Louise Duggan, Lebeau Jonker and Emily Sexton.

Spearline announces 75 jobs by end of 2020 at the official opening of new headquarters following multimillion euro investment. Pictured are Paschal Donohoe, Minister for Finance, Public Expenditure and Jim Daly TD, Minister of State for Mental Health & Older People with Matthew Lawlor, Co-Founder and CTO and Kevin Buckley, Co-Founder and CEO at Spearline.

Signed as one of Xerox’s first European partners 34 years ago, NBM were announced as one of their largest Irish Channel partner, responsible for Xerox distribution in Munster and South Leinster. This territory expansion will result in the creation of five new jobs and expected revenue growth of 40% by 2020 for NBM. Pictured are Mark McPhillips, Managing Director Xerox and Michael Galvin, Managing Director NBM at the €750,000 NBM expansion announcement.

The Irish team of Andrew Nash, Colaiste Realt Na Mara, Crosshaven, Oisin Davey, Summerhill College Sligo, Caolan Fleming, Leinster Senior College and Kieran Hogan, Davis College, Mallow who participated in the International Olympiad in Informatics (IOI) in UCC training to compete at the highest level internationally.

The Kilkenny team recently participated in VHI mini marathon in Dublin raising €5800 for Breast Cancer Ireland. Juliette O’Connell Coordinator from Breast Cancer Ireland receiving the cheque, with Emma Hartmann, Cluster Manager and Lisa Milward, Group HR Manager, Kilkenny Shop.

Bon Secours Cork has opened its new cancer centre which is now treating its first patients as part of the hospital’s ground-breaking €77 million expansion. In partnership with leading U.S.-based academic medical centre UPMC, the new Cork Cancer Centre is creating 50 new jobs and offers patients in Cork and Munster the most technologically advanced radiotherapy services in the south of Ireland.

Ready to race! Author & fashion editor Annmarie O’Connor and Graham Lynch, Marketing Executive with Marymount University Hospital & Hospice pictured at the announcement of the Best Dressed Competition taking place at the Marymount University Hospital & Hospice Charity Raceday at Cork Racecourse. Categories will include Best Dressed Lady sponsored by Lennon Courtney, Best Dressed Man sponsored by Louis Copeland and the Best Dressed Couple sponsored by Lee Travel.

Munster Rugby and their nominated charity partner the Irish Cancer Society joined forces to urge the public to be SunSmart when outdoors this summer. Pictured at the Bank of Ireland Munster Rugby summer camp at Highfield Rugby Club were players James Cronin and Gavin Coombes along with Allison Tessier, Nathan Tessier, Alejandro Rea and Oisin Rea. The camps provided free sunscreen to all participants this summer. The Irish Cancer Society said it is important to follow the Sunsmart Code during the summer months, even on cloudy days.

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Transforming landscapes Delivering world class solutions – engineering a sustainable future Keating is a Marine, Civil Engineering and Building specialist with over 30 years’ experience as a leading multidisciplinary contractor in engineering. The company’s vision is ‘Delivering world class solutions – engineering a sustainable future’ and from its offices across Ireland and the UK, it delivers transformational marine engineering solutions, innovative civil engineering resolutions and ground-breaking construction works. Keating is focussed on delivery of high quality projects that meet and exceed customer expectations, investing in people, skills, technology and innovation to deliver high quality engineering solutions. At the heart of the company is a dedicated team of highly-motivated and driven individuals that continue to facilitate its growth and enhance its reputation.

Mary Elmes Bridge Keating was delighted to play its part in the delivery of Cork’s newest bridge, the Mary Elmes Bridge. It is expected that the new pedestrian and cycle bridge will be used by up to 11,000 people daily. The construction and delivery of the bridge for Cork City Council was a complicated process that involved a significant amount of planning and implementation from key stakeholders. The bridge superstructure consists of 165 tonnes of steel plate that forms a central spine beam with cantilevered steel decks. For ease of construction and transportation, the superstructure was subdivided into nine sections, which were joined together in Doyles Shipping Yard in Cobh. The bridge was then lifted onto a barge and with the help of two tugboats, it travelled the River Lee to its new home.

Gordon O’Regan, CEO at Keating believes the work environment that has been built in the company contributes significantly to its success. “The experience and expertise that the team brings to every project is unrivalled in my view. Our philosophy is to be a central part of the project team from the design phase, right through to completion.”

The impressive 165 tonne structure spans 66m from St Patrick’s Quay to Merchant’s Quay and contributes to the aesthetics of the vista of the Lee. Hundreds of thousands of pedestrians and cyclists will benefit from the improved connectivity between the Victorian Quarter and the city centre.

Examples of the quality of work Keating has been part of can be seen right across the country, including the redevelopment of Cape Clear Island Harbour, significant works at Dublin Port, ongoing work at Dinish Wharf at Castletownbere. O’Regan also credits the company’s ethos for inclusivity and diversity as a contributing factor to its success: “We are also a company that is committed to ensuring the health and wellbeing of our team, recognising the benefits of a vibrant, diverse and multicultural environment, where every person feels respected, and all contributions are valued.”

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PLANET ENTERTAINMENT CENTRE, OLD MALLOW ROAD, CORK CALL DENIS ON 021-4300700 OR EMAIL denis@planetleisure.ie

G ROW I N G YO U R BUS I N E SS

New Appointments

Aoife Kelly WeddingDates

WeddingDates welcomed Aoife Kelly to the role of Sales & Account Manager. Kelly holds a strong background in the hospitality industry and is enthusiastic about stepping into her new position to support the company’s wedding venue clients across Ireland and the UK. ‘’I am delighted to be the new Sales and Account Manager at WeddingDates. I am excited to be joining the team and see what new challenges this role brings. I look forward to building strong relationships with new and existing customers,‘’ said Kelly.

Conor Sweeney Elkstone

Elkstone has announced that Conor Sweeney has joined the firm as a Venture Partner. This senior appointment strengthens the Venture team at Elkstone with three Venture Partners now in place focused on investing in and supporting our portfolio of high growth internationally focused early stage venture companies. Conor has over 20 years professional investment experience in corporate finance and investment management roles in the sector.

Emer O’Leary Grenke

Emer O’Leary has started a new position as the Direct Sales Manager for GRENKE Leasing in Munster. Emer started working for GRENKE two and half years ago as an internal sales representative. Holding Bachelor Degrees in Accounting, Marketing and Business, Emer began her career with Cork Independent newspaper in their advertising department before moving into finance and GRENKE. As the Direct Sales Manager Emer offers GRENKE clients’ bespoke solutions for their financial requirements.

MEET ON THE MALL Host your meeting, team building event or training course in Maldron Hotel South Mall Choose from one of our 5 rooms which can cater for 2 to 60 delegates. All rooms are equipped with complimentary: • Wi-Fi • LCD screen • Air-conditioning • Water • Mints • Stationary Let our dedicated events team take care of you. TO BOOK +353 21 203 7000 modonnell@maldronhotels.com

Marissa Tobin Campion Insurance

Marissa Tobin, Qualified financial Advisor, has been appointed Life and Pensions Advisor in Campion Insurance. Marissa is based in the Midleton Office and will look after her Cork based clients. Having started her Career with AIB in 2000, and achieved her QFA with AIB in 2016, Marissa also holds a diploma in Accounting. Her role involves ensuring both her business and Personal clients are financially protected in the event of death, illness, injury or loss of income.

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New membe rs We welcome the following new members

Ballyphehane Community Association Charities To provide a community centre encompassing a range of services for the people of Ballyphehane and surrounding regions. T: (021) 4965339 E: info@ballyphehanecc.com W: www.ballyphehanecommunity.com Best Living Limited Serviced & Virtual Offices We offer co-working spaces which are flexible and purpose built for your needs. Co-working spaces are for people with a bright idea, they’re for people who get things done. T: (01) 6937394 E: info@bestlivinglimited.com W: www.bestlivinglimited.com BKK Accountants/Auditors BKK is a financial advisory firm that helps ambitious businesses navigate the challenges of enterprise. With over 40 years’ experience in delivering expert advice and strategic support to entrepreneurs. T: (021) 4350777 E: info@bkk.ie W: www.bkk.ie Blacks Brewery and Distillery Kinsale Food/Drink Irelands first co-located Micro Brewery & Distillery based in Kinsale, Cork selling Gin, Rum and beginning a Whiskey adventure in 2019! T: (085) 1005520 E: info@blacksbrewery.com W: www.blacksbrewery.com Celtic Anglian Water Engineering Celtic Anglian Water (CAW) is part of one of the UK’s largest water companies, who provides water and recycling services to over 6 million customers in England. Operating for over 20 years. T: (01) 485 2370 E: info@caw.ie W: www.caw.ie Curragh House Developments ltd Property Management/Lettings Our Business is a mixture of development, buying / selling houses and retaining houses for long and short term lets. T: (087) 2195841 E: mvkelleherproperties@gmail.com

ClickDimensions Advertising/Marketing/Market Research Our mission is to make Microsoft Technology work for marketers so they can create great experiences. With Marketing automation, services and analytics, ClickDimensions is the only complete marketing solution for Microsoft Dynamics. T: (021) 2455200 E: kevin.collins@clickdimensions.com W: www. clickdimensions.com Cybercolors Ltd Food/Drink We specialise in the sourcing, research, development, manufacture, promotion and selling of natural food colours, for the global food and beverage industry. T: (021) 4375755 E: salessupport@cybercolors.ie W: www.cybercolors.ie Digital Health Resource Ltd. Health & Safety Providing national / international top-tier athletes and influencers online subscription based websites that offer plans and resources in the area of healthy lifestyle. T: (086) 2778414 E: info@spiralli.ie Dusk Advertising/Marketing/Market Research Dusk is a complete Marketing service, which aligns engaging content with the under-priced attention of social media, within one cohesive marketing strategy. T: (083) 0381737 E: michael@dusk.ie Fitzgerald Actuarial Limited Financial Services/Pensions/ Investment Your professional, experienced Corkbased risk consultants specialising in pensions and insurance consulting for trustees, employers, intermediaries and life insurance companies. T: (087) 6890175 E: consultancy@fitzgeraldactuarial.ie W: www.fitzgeraldactuarial.ie Hertz Car Sales Direct LTD Motor Traders Handpicked ex rentals for sale at a fraction of main dealer prices. T: (021) 4552240 W: www.hertzcarsales.ie

For more information on members log in to the Members Information Centre via our website.

French Quarter Studios Audio/Media/Publishing/Video Production Recording studio specialising in recording speech (for APPs/Websites/Advertising); vocalists & small groups; mixing audio sessions & providing full backing track production. T: (086) 3128457 E: info@frenchquarterstudios.com W: www.frenchquarterstudios.com GoBé Transport We offer non stop coach services between Cork, Dublin and Dublin Airport with on board WiFi, restrooms, AC and sockets. T: (091) 564600 E: info@gobus.ie W: www.gobe.ie H+A Marketing + PR Advertising/Marketing/Market Research H+A is a strategic marketing and communications consultancy offering a complete set of solutions to support individual business functions or full planning and project implementation. T: (021) 4666200 E: contact@hamarketingpr.ie W: www.hamarketingpr.ie Helium Arts Arts Helium Arts is the national children’s arts and health charity supporting the social and emotional needs of children facing long-term conditions through arts-based projects. T: (044) 9396960 E: info@helium.ie W: www.helium.ie Infinity Financial Planning Financial Services/Pensions/ Investment We are independent financial planners, who offer an initial meeting at our expense, and are able to provide advice on investments, pensions, and protection from the whole market. T: (021) 4508851 E: pat.leahy@infinityfinancial.ie W: www.infinityfinancial.ie

CMY

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Janara Senior Care T/A Home Instead Senior Care Healthcare Provider Home Instead Senior Care is the worlds largests and most trusted private home care provider. T: (021) 5002190 E: cork@homeinstead.ie W: www.homeinstead.ie Louis Copeland & Sons Retail Louis Copeland & Sons are one of Ireland’s most well-known luxury menswear retail brands and are experts in smart casual clothing and suiting. E: davidoc@louiscopeland.ie W: www.louiscopeland.com No.1 Media Group Audio/Media/Publishing/Video Production No.1 Media Group is one of the largest news site and online media publishing houses and project managers on the Island of Ireland. T: (021) 5003050 E: info@no1.ie W: www.no1.ie SAL CORK A5- landscape.pdf

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Pario Digital Marketing Advertising/Marketing/Market Research Pario Digital Marketing is a local agency that helps businesses succeed in a digital environment. Tailoring SEO & content marketing campaigns to customers’ needs. T: (087) 0933903 E: info@pariodigitalmarketing.ie W: www.pariodigitalmarketing.ie Orla McAndrew Catering Food/Drink Offering exquisite food to allow you to really treat your guests at your next event. T: (087) 7090946 E: orla@omcatering.ie W: www.omcatering.ie Rimes Technologies (Ireland) Limited Insurance/Financial Services We provide specialist managed data services & regtech solutions to asset managers, owners, servicers and banks worldwide. T: (021) 2377366 W: www.rimes.com

Sandham Consulting Limited Enterprise/Trade Development Technology Consultancy. T: (086) 1662946 E: adrian.sandham@ sandhamconsultingltd.com SEE It Better Coaching Management Consultants SEE It Better Coaching incororates a holistic acronym SEE into the professional leadeship, performance and wellness space, helping clients unleash hidden value to reach true potential. T: (086) 8433980 E: scannellsusan@outlook.com vsource.io Software/Software Services vsource is a premium on-demand talent sourcing platform that blends smart technology with human intuition and recruitment experience. T: (021) 2417286 E: marketing@vsource.io W: www.vsource.io

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Proudly supported by Bord Gáis Energy

Friday 18 of October

The Irish Business community sleep-out against homelessness Register today on 086 8223690 or visit Focusireland.ie/ShineALight

In association with

G ROW I N G YO U R BUS I N E SS

Members of the Clearstream team celebrating the the move to their new city centre office at Navigation Square.

Invest in Cork and Rewar d YOur Staff Invest in Cork by rewarding your staff with a Cork Chamber giftcard this Christmas – your initiative will help support hundreds of local businesses, and give your staff a great range of shopping options! The Cork Chamber Gift Card, operated by One4All, was launched in November 2018 and provides an opportunity for businesses to directly support the local Cork economy by using the Gift Card as a part of their staff rewards programmes. As we head into the second year of offering this ‘Cork only’ Gift Card we have been encouraged by the support the Gift Card has recently received from Clearstream, a leading global provider of post-trading services.

To celebrate their recent move into Navigation Square with 500 staff and as part of their commitment to Cork Clearstream purchased a €500 Cork Chamber Gift Card for each of their Cork based employees.

The beauty of the Cork Chamber Gift Card is that while offering the recipient the chance to spend in over 370 outlets the Gift Card can only be spent in the Cork region, therefore driving the ‘shop local’ message and giving companies the chance to really do their bit for the local economy, while at the same time rewarding their teams. David Brosnan, Managing Director of Clearstream hails from Cork and explains why investment in the Cork Chamber Gift Card means so much to their business, “Starting this initiative together with the Cork Chamber, we enhance our direct impact and help Cork thrive by encouraging spend in the local area. The move to the city centre underlines our long-term commitment to our staff and to Cork as a community.” Conor Healy CEO of Cork Chamber reiterates, “This significant investment from Clearstream in the Cork Chamber Gift Card further cements their commitment to Cork. Over the next 5 years we will see 10,000 new jobs in Cork with these people wanting to live, work and play in our city and county, therefore fuelling our local economy

Together making Cork the best place for business

and helping local businesses to thrive. The Cork Chamber Gift Card provides companies with the opportunity to make a tangible contribution to the Cork business ecosystem while rewarding their teams, with Clearstream leading the way. We hope others will take inspiration from this.” There are hundreds of businesses and retailers signed up to accept the Gift Card in Cork and the list is growing weekly. Options range from hotels and restaurants, to shops, hair salons and gyms, the full list is available on CorkChamber.ie

G ROW I N G YO U R BUS I N E SS

David Walsh, Group Retail Director One4All with Conor Healy, CEO Cork Chamber and Deirdre Griffin, Business Development Manager Cork Chamber.

To Order Your Gift Cards : The Cork Chamber Gift Card is available to order online at CorkChamber.ie or by contacting the One4All corporate team directly on 01 8708111 and at the following Post Offices & Post Point Locations;

• • • • • • • • • •

Cork’s GPO, Oliver Plunkett Street Bishopstown Post Office, Wilton Shopping Centre Carrigaline Post Office, Carrigaline Shopping Centre Douglas Post Office, Douglas Village SC Ballincollig Post Office, Main Street Ballincollig Blackpool Post Office, Blackpool Shopping Centre St Lukes Post Office, Ballyhooly Road, Cork Costcutter, Bandon Road Roundabout, Bishopstown O’Hare’s Mace, Mayfield Shopping Centre Menloe Stores, Blackrock Road, Blackrock

The full list of retailers and businesses accepting the Gift Card are available on CorkChamber.ie

SMART BUSINESS SPOTLIGHT

The adoption of smart working policies has provoked a need to re-imagine traditional cyber security services.

Vodafone Ireland has recently signed a new partnership with Palo Alto Networks to become the only Palo Alto Networks Managed Security Service Providers (MSSP) in Ireland – significantly enhancing their cyber security proposition for customers. Security and LAN Solutions Product Manager, Niall Tuohy discusses the latest smart working trends and how these new ways of working require enhanced and tailored cyber security responses. Niall discusses how Vodafone Ireland’s expanding proposition can adapt with your changing business needs to mitigate these risks.

Smart Working is the combined use of technology with the flexibility and agility for employees to work remotely, co-work or use their own hybrid models. The benefits of Smart Working are quick to see; for the employer it immediately gives access to highly skilled talent across multiple areas, similarly employees enjoy greater productivity while reaping the benefit of a greater work-life balance. There is an ever-increasing appetite in Ireland for Smart Working as employers seek to meet the demands of the highly competitive workforce. A Vodafone Ireland study commissioned last year, The future of business in Ireland – a conversation with SMEs, highlighted that 33% of the 300 employees surveyed would change their job for smart working opportunities.

sizes. Different industries and sectors are subject to varied cyber security issues – from the theft of valuable or sensitive data such as medical records or billing information to threats such as network disruption and blackouts, not forgetting phishing and malware attacks. There is no one-size-fits-all solution. Expanding your business network to include remote working for employees creates more accessible points which is causing a delay to the rollout of smart working practices because they cannot ensure secure connections via mobile devices or home broadband. Given such challenges and trends, it is important for cyber specialists to look at new ways of providing services that provide the right cover and support to enterprise customers. Vodafone Ireland are partnered with Palo Alto Networks, one of the world’s cybersecurity leaders offering customers visibility and control for on-premises, branch, mobile and cloud security. With this partnership, we can now offer our customers not just Next Generation Firewalls but products such as Cortex, the industry’s only open and integrated AI-based continuous security platform that constantly evolves to stop the most sophisticated threats. Vodafone Ireland also recently signed a Managed Security Service Providers agreement with Palo Alto Networks.

We’ve seen a big shift in attitude towards flexible working over the last three years, it is fast becoming a bargaining tool. Companies are beginning to wake up to its positive impact on the bottom line.

The MSSP agreement enables Vodafone Ireland to provide a proactive 24/7 Security Operations Centre (SOC) service with threat analysis and intelligence along with Palo Alto Networks technologies – providing total cover for those businesses who have employees working across multiple locations.

But while there are many benefits to this modern-style of working, we need to be aware of the challenges and indeed the risks that this style of working can bring for businesses of all

It is clear that a proactive and not a reactive managed service is what is needed to fully counteract the evolving nature of cyber security threats and evolving working models.

BECOME A SMARTER BUSINESS WITH VODAFONE

FESTIVE DINING

Celebrate the festive season with a group party or private dinner at The River Lee T +353 21 493 7715 or visit W doylecollection.com/cork The River Lee, Western Road, Cork T12 X2AH

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