ISSUE 4 - JUNE 2022
THERE REALLY IS GREAT STRENGTH IN NUMBERS
FINGAL CHAMBER - NETWORK MAGAZINE
The foundations for this approach are well laid. The recently completed membership survey has been most timely, ensuring that your Chamber’s Council and Executive have a clear understanding of the needs and priorities of the members. We are fortunate, too, in having a highly knowledgeable and experienced advocate in Siobhan O’Donnell in the new role of Head of Public Affairs. And thankfully we have returned to person-to-person engagements. Following the protracted period of digital encounters, we now recognise that in-person meetings are essential elements in both our personal and business interactions.
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As the country comes out of two years of lockdown the role of Fingal Chamber in supporting our members is arguably more critical now than it has ever been. The prospects for economic recovery over the next two to three years, both nationally and within the region, are quite positive. But there are also many challenges ahead. As a Chamber we need to work collaboratively with other stakeholders, including the local authority, and to lobby effectively at local and national levels on behalf of our membership.
The Business Sentiment Survey has proved invaluable in setting the agenda for the remainder of this year. Difficulties in staff recruitment and retention stand out at the top of the list of concerns and the Chamber is in a good position to assist with this. Our Fingal Chamber Skillnet Network, for example, helps businesses to identify and address their skills needs in practical ways and delivers value for money training and development programmes that can be tailored to individual needs. In May Fingal Chamber in conjunction with Fingal County Council will hold the region’s largest business to business trade exhibition attracting businesses looking to buy products and services from suppliers and vendors. Fingal Connects Expo’, which will take place at the Crown Plaza Dublin Airport on May 26th, offers a single place for businesses to gather and network with hundreds of local suppliers, partners and future customers. This is another practical example of how the Chamber can support businesses in the region. We have worked closely with Fingal County Council on many initiatives designed to address specific issues that have direct influences on the economic welfare of the region. In the area of tourism, for example, Fingal has huge potential as a tourism & hospitality destination and during the pandemic we established a subcommittee with the CoCo to explore ways of improving tourism in the region. Many of our members are facing huge increases in costs, from soaring energy bills to wage inflation pressures they are simply unable to meet. At the same time, government supports designed to help businesses during the pandemic are now coming to an end. The tax warehousing provision, for example, provided a huge cash flow benefit at a difficult time. But from next January any outstanding deferrals will be subject to an interest penalty of 3%. So, depending on how quickly
they can rebound, many companies face ongoing financial challenges.
EXECUTIVE ASSESSMENT: SOME HAVE SURVIVED, OTHERS HAVE THRIVED
RESILIENCE REMAINS THE KEY INGREDIENT TO SUCCESS Recovery in economic activity here in Ireland is being constrained by a marked shortage of labour in many areas, while a shortage of housing contributes to the overall uncertainty, especially for younger people. All this at a time when we are hosting many refugees from the war in Ukraine, with more set to seek shelter in our country. So the business environment, generally speaking, is quite tough on a number of fronts.
New methods of working present another key challenge for many employers. We recently conducted a survey in partnership with Adare HR which identified that just a third (32%) of organisations believe a hybrid working model will benefit their business. But this is an approach that is fraught with difficult issues, from employment law and health & safety to insurance and monitoring of employees’ work practices. We have already held forums with experts to tease out these issues and we will continue to engage on this topic in the interest of members. These are all important concerns and the Chamber will continue to engage with various agencies and government departments to ensure, as far as we can, that they are understood and responded to adequately. The appointment of Siobhan O’Donnell as Head of Public Affairs reflects our view that advocating on behalf of the local business on key issues is one of the most important things we can do as a representative body. From taxation to transport, we will pick our battles at the appropriate times and pursue them with vigour. We are fortunate as a Chamber in having an enlightened local authority with a clear vision of developing the region socially and economically. As I mentioned already, we have developed a very good relationship with Fingal CoCo and I am keen to see that strengthened even further into the future. Fingal Chamber is also blessed to have an enthusiastic team of council members to direct and assist the executive team. I detect an air of excitement amongst them this year as we all seek to re-engage in a post-COVID world. We will continue to form new subcommittees as the needs arise to ensure we remain alert to both challenges and opportunities. Finally, I would like to remind members that the greater the membership, the stronger we are as a representative body and the better resourced we will be to advocate on your behalf. We are engaged in an active recruitment drive this year and I would ask you to encourage your peers who are not already members to consider joining us. There really is great strength in numbers.
John ODonoghue President Fingal Chamber
As I write, we’re in still in uncertain times. COVID remains with us and, although it has thankfully moderated in many countries, including here in Ireland, it is a continuing operational issue for many businesses. The tragic situation in Ukraine is on-going, too, with knock-on economic effects on inflation in general and fuel prices in particular.
Inflation is a real concern for business. The public sector is gearing up to look for compensatory pay rises in the order of 7% to 8% and it is understandable that, depending on how resolute the government is in its response to these pay claims, private sector workers will almost certainly seek something close to parity with the public sector. But the inflation of input costs this year is absolutely unprecedented. People in the food service industry, for example, have had three double digit price increases so far already. That’s been replicated right across industry and it’s not going to get better anytime soon. Since our last issue we conducted the Fingal Business Sentiment Survey 2022, which has highlighted staff recruitment and retention as the single biggest issue facing our membership, followed by the lack of housing availability. Traffic congestion also ranks highly – and the failure of successive governments to deliver the promised metro link between Dublin Airport and the city centre must be a big factor in that. What we need now, more than ever, is for the political parties to stand up and be counted, to forget about shortterm politics for once and think about things that will make a difference for future generations. Addressing the housing problem is clearly one of those issues. Against this background it is perhaps as surprising as it is pleasing to note that businesses here in Fingal remains optimistic about the future and a
key reason for this is their proven resilience. Much is spoken about the value of not just adapting to changing circumstances but to anticipate them and even to be a force for making change happen. The COVID pandemic has encouraged, and even forced, many businesses to put theory into practice. The Chamber is playing its part in helping to create an improved environment for our members. Working with Fingal CoCo, for example, we will be hosting a Fingal Business Expo next month in the Crowne Plaza Hotel. We will have 55 stands and expecting to host 500 to 600 people trade visitors, the majority of whom will be members of the Chamber. It will be great way for businesses in the locality to get to know each other’s offerings and capabilities. The resumption of in person meetings by the Chamber has been greeted with a palpable sense of relief by everyone. The Expo will be one more important step in this direction as we steer towards a “new normal”. Recently we created a new Head of Policy position within the Chamber dedicated to helping us make sure that, in our role as a voice for all businesses in Fingal, we are both heard and heeded by the various agencies that play roles in shaping the business environment – everything from national government to local community agencies. This work is now being headed up by the highly respected, former Chamber President and daa executive, Siobhan O’Donnell who brings huge experience and knowledge to this role. One thing is certain, then, as now, resilience is the key ingredient which will see our membership thrive and prosper in the years to come.
Anthony Cooney Chief Executive
FINGAL CHAMBER - NETWORK MAGAZINE
WELCOME ADDRESS: A YEAR OF ACHIEVEMENTS
ISSUE 4 - JUNE 2022
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