Entrepreneur IE - Q1 2023

Louise

Fashion & lifestyle blogger and owner of CLOO Active

Leading insurer highlights the importance of having the right insurance cover in place

Simon McKeever Chief Executive, Irish Exporters Association

When starting up a new business, an essential item for the checklist when getting off the ground is business insurance as accidents can occur at any time.

Rhonda Cribben

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Offering protection

Buildings and contents insurance will help you put things back to normal if your business premises, contents or stock get damaged, lost or stolen. Business interruption insurance offers protection from loss of income following an unexpected event — for example, fire damage where the business cannot trade for a number of months. However, most policies will only provide this cover where physical damage is caused to the property.

Bespoke insurance package

Allianz has created a bespoke insurance package for the Irish SME sector to ensure customers’ businesses are protected against unforeseen events such as damage to property or theft and liability claims exposures. This Allianz product is designed to protect our SME customers across the retail, office, business and hospitality sectors. With any startup business, getting professional advice is essential, and it is no different when it comes to insurance. Business activities can vary and may warrant additional covers, such as cargo insurance, if importing, exporting goods or transporting goods in Ireland or overseas.

If the business has a company car or van to visit clients or transport goods, then it is important to ensure the right level of protection is in place.

The best place to start is with a regulated insurance broker who can provide advice on the necessary business insurance requirements.

Brokers Ireland is the leading representative body for insurance brokers in Ireland with over 1,200 firms representing both insurance and financial brokers. You can find a broker in your area on their website brokersireland.ie

@BusinessnewsIE

The export market provides businesses with the potential to grow through sourcing and attracting new customers from outside Ireland.

ustomers or clients are vital to the success of a business, so a good place to start is with public and product liability insurance as well as professional indemnity if providing advice. Some clients may request that you have insurance, so as well as essential protection, it may assist in sealing the deal. Similarly, when trying to obtain business premises or outside areas for signage or seating, public liability cover may be sought from the property owners. It is also important to consider employer liability; even if the business employs staff on a part-time or temporary basis, the business is responsible for the employee’s health and safety while at work.Exporting has many potential advantages including increased innovation, spreading market risk and, ultimately, increased profit. However, many small businesses may struggle to understand how to start this journey.

Start with export market research Knowing whether there is demand for your product or service is the crucial first step. Before you jump on that plane and expend resources (time and money), a little desk research is a good place to start; and various agencies provide support. Enterprise Ireland, Bord Bia and the Local Enterprise Offices have a range of country and sector reports for early-stage and high-potential exporters.

Identifying in-market supports such as the Irish Embassies overseas, local Chambers and connecting with other Irish companies already in-market is vital. Consider Northern Ireland — our 8th biggest export market — and InterTrade Ireland which provides a range of support to companies looking for trading partners in the other jurisdiction.

Plan and strategise for an export market Deciding if your product or service is suitable for an export market is essential. Your export plan should include:

• Sales and marketing: Identifying your customer, engagement opportunities and competitor analysis. Pricing, packaging and labelling requirements.

• Legal and regulatory: Is your product or service legally exportable? What about tax, patents and trademarks? Are there

Contact information: uk.info@mediaplanet.com

different regulatory standards in the export market you must comply with?

• Route to market: Will you sell directly or via an agent/ distributor? Do you need an e-commerce strategy?

• Logistics and transport: Mode of transport, customs requirements, Incoterms. How will you deliver the product?

• Do you have the resource capacity to deliver the potential extra sales? This could include plants, equipment, raw materials, technology and — most importantly — people.

• Finance requirements: Funding and cost forecasting. Do you have the requisite funds for this expansion? If not, can you get it? The last thing you need after all of your efforts is to win a large order and then realise you cannot fulfil it.

Maximise investment and connection opportunities

Our support provides companies with an opportunity to be part of a community of fellow international trade professionals and businesses — sharing and understanding potential risks and opportunities that may lie ahead.

The Irish Exporters Association supports exporters at each stage of their export journey: member-to-member connections, events, webinars, training courses, legalisation of documentation, business visas, translation services and assistance.

Hackett O’Toole | Head of Digital Operations: Harvey O’Donnell Paid Media Manager: Jonni Asfaha Social & Web Editor: Henry Phillips Digital Assistant: Carolina Galbraith Duarte All images supplied by Gettyimages, unless otherwise specified

Enterprise Sales Manager, Allianz

Paid for by Allianz

Feilimi Corr

Corporate Enterprise Sales Manager, Allianz

WRITTEN BY

Sheree Hanna

From clicks to bricks: how online businesses can take the leap to retail

A social media influencer has discovered how a modern payments provider is helping bridge the gap between online and in-store sales for her activewear business.

Louise Cooney began as a fashion blogger about nine years ago and is now visible across all the main social media platforms with a combined audience of some 250,000 followers. It was her interest in style that led to her decision to take a risk and launch her fashion activewear brand.

She admits that starting her own retailing business has been quite a learning curve, but one that she was happy to engage with in a bid to realise her entrepreneurial dreams.

WRITTEN BY Sheree Hanna

Business expansion ideas

“It was during a lockdown when, like lots of other people, I had time to reassess my life. I said to myself, ‘if I could do anything, what would it be?’ How can I put my own stamp on things and be in creative control of my own projects?” Cooney shares.

Having studied marketing and business development, she decided it would make more sense to invest her savings in starting her own business rather than buying a house, which was something she was also considering at the time. Eventually, she also wanted to expand her business reach and test the waters in a physical space. She says: “I didn’t know too much to start with, but have really learned as I have gone along.”

From online to city centre shop

The activewear e-commerce launched over a year ago, and since then, CEO Cooney has only looked forward in terms of how she can grow the business — overcoming various hurdles along the way.

These have included supply chain backlogs, expensive freight and customs charges with manufacturers being based across Europe and China. Another challenge arose for her when she finally decided to place her brand in a pop-up shop in the heart of Dublin’s busy city centre on Wicklow Street.

“I knew nothing about setting up the till for the shop,” she explains. “I was sharing the outlet with several other female-led brands, and one of them told me about the payment system Square provides. Since it was referred by another business and she had no prior experience with in-store payment systems, Cooney didn’t hesitate to try it out. “I asked them for help, and I loved how simple it was to set up and how I could track everything, every day on my phone.”

The right payment solution Square provides a cohesive suite of tools to not only help with payments but ensure enterprises can run efficiently. They partner with sellers of all sizes from large, enterprise-scale businesses to ones like Cooney’s business. As e-commerce shops grow and expand, the company offers further solutions down the line to assist them.

Aware of her growing customer base’s needs, Cooney felt it was important to give them the opportunity to see her brand and try on the clothing to get a feel for its sizing, fit and quality.

“When it comes to clothes, a lot of customers like to try things on; and for the business, it was the right time to experience operating in-store,” she says.

Keep track of inventory

The advantages of using the automated tracking of sales and contactless card reader system are numerous. For a start, Cooney was able to note what was selling the most, including which item, size, style and colour — and any items people were returning.

“This was great because it helped me to plan ahead with the preordering and getting feedback on what works and what doesn’t. I would definitely partner with them again.”

She concludes: “My hope is that my activewear brand will become international, but for now, we are still trying to conquer Ireland and focusing on growing here.”

Square offers a comprehensive suite of hardware and software tools designed to help run and grow businesses of all sizes. It implements secure payment systems that work both in-person and remotely, making it the perfect payments solution to support omnichannel businesses.

To learn more about Square, visit square.com

Paid for by Square

Louise Cooney

Fashion & lifestyle blogger and owner of CLOO Active

When it comes to clothes, a lot of customers like to try things on; and for the business, it was the right time to experience operating in-store.

How small businesses can grow, evolve and thrive in the digital future

Small Irish businesses have been challenged by the post-Covid-19 landscape as digital excellence and sustainability have become recognised as requirements for business success.

Ireland has a well-grounded entrepreneurial culture — fostered by the Government through their Local Enterprise Office (LEO) and various initiatives. This has worked well for Ireland. However, two new elements must be added for a business to be successful: digital excellence and sustainability.

Understand your market as a small business

Businesses that adapted to a new online-focused economy in 2020 saw record sales numbers during the busy shopping periods of 2021. However, some saw a sales drop in 2022 as overseas products and services became readily available again.

As the country continues to recover, it’s important to ensure your market knows that your business is following a sustainable route — consumers have never been more conscious and civic-minded. They are open to change, but it must be easy to access.

Digitally engage in a meaningful manner

As entrepreneurs, we have an opportunity to redirect our business sustainably and digitally inform our customers via TikTok, podcasts or any platform you’re committed to engaging with your audience through.

Smaller companies can have a massive reach if they are true to their story and use digital effectively — but don’t overdo it and deter customers. Find your channel, be authentic and engage meaningfully.

A digital marketing approach can foster long-term business growth

Businesses have been accustomed to the belief that profit-maximising strategies alone can help mitigate economic uncertainty — both domestic and global. The events of the last years have collectively taught us that this philosophy has become redundant.

Innovation, adoption of automotive and other technologies, as well as digital accessibility will act as the currency for future growth and commercial longevity.

Get your unique selling proposition correct

Some businesses have combined digital with an in-store presence. However, retail experiences are demanding in terms of physical presence, offering trials and experiences. One constant thing is your brand proposition. Those with a sense of purpose and a well-crafted story will grow. Additionally, there are hubs such as GuaranteedIrishGifts.ie specifically set up to help small businesses grow.

Embark on a sustainable journey for your business

Irish SMEs are trusted brands, with over 73% of consumers agreeing that Guaranteed Irish Member Businesses show genuine support for Irish jobs, communities and the circular economy — and this matters to the civic-minded consumer. We must continue to support local jobs and businesses, including those reopening brick-and-mortar stores.

Keep it local and support the economy

Working with local businesses and shopping locally has positive knock-on effects on the country — with every €20 spent locally worth over €100 to the Irish economy. Irish consumers are conscious of reducing their carbon footprint. By buying locally, there is less transport, less need for excessive packaging and more sustainable production methods.

be formulated, businesses need to consider the demographic of their customers — both retained and targeted — so investment in insights is key. Research, polling, virtual focus groups and online surveys are tools which carry a short-term cost but yield a sustained return.

The website is the ‘pièce de résistance’ of any business which is trading online. Far from a ‘one-size-fits-all’ e-commerce experience, websites should be customer-friendly, ensure regulatory compliance and be digitally accessible — in other words, be usable by every person, regardless of ability.

Lorraine Higgins

Navigating economic uncertainty with digital marketing

The global e-commerce market continues to exert its dominance — it is expected to grow to $5.4 trillion in 2026, according to Morgan Stanley. Yet, while the long-term growth trajectory remains positive, the current economic outlook can be challenging for businesses grappling with inflationary pressures. Ireland’s Central Bank has forecasted consumer price inflation to remain high at 6.3% in 2023.

Throughout the Covid-19

pandemic, Irish businesses showcased extraordinary resilience as many pivoted their operations online, to weather the storm. Now, and looking ahead, businesses must have a digital marketing strategy with an integrated approach to online marketing in order to navigate economic uncertainty. Such strategies range from targeted digital marketing campaigns to investing in customer insights and using technology to broaden accessibility.

Digital-first marketing strategies These strategies have individual merits but work better in tandem. Any business can leverage digital marketing, but the most successful campaigns are those that extend beyond stationary metrics. However, before any such plan can

In the last six months, Digital Business Ireland has been fortunate to partner with Inclusion and Accessibility Labs — a spinout of not-for-profit, the National Council for the Blind of Ireland (NCBI) — who are leading the charge on democratised technology through making public and private sector websites fully accessible to all.

Businesses deploy digital marketing Global financial headwinds mean profit-maximising strategies alone will not suffice. By adopting a digital-first approach that prioritises insights and innovation — while broadening customer reach through accessible websites and platforms — businesses can mitigate economic uncertainty and foster long-term growth.

Founder, Digital Business Ireland

Brid O’Connell CEO, Guaranteed Irish

How businesses in Ireland can potentially reduce their energy use and other costs

An average small to medium-sized enterprise (SME) could potentially reduce its energy bills by up to 30% by implementing energy efficiency measures; and 10% savings can be achieved with little or no capital cost.

Working with businesses, the Sustainable Energy Authority of Ireland (SEAI) understands the impact of rising energy costs and the need to reduce energy use and save money. The year 2022 brought extreme energy price impacts which are continuing to present huge challenges to businesses into 2023. Nevertheless, there are steps you can take right now to potentially reduce your heating, lighting and electricity costs.

Reducing heating costs Reduce temperature setpoints so the heating turns off when the temperature reaches 19 degrees. Set your AC to come on at 24 degrees or higher.

Make sure timers are set to the correct date and time. Variations in working hours on weekends and bank holidays should be considered when setting controls.

Reducing lighting costs

• Ensure lights are switched off when not needed and consider installing motion sensors in infrequently used areas such as storerooms, toilets and corridors to prevent lights from being left on unnecessarily.

• Maximise the use of daylight, and consider installing daylight sensors in areas that use both natural and artificial light. These can automate lights to turn off or dim to account for changing levels of daylight in the room.

Reducing electricity costs

• Ensure you are on the best electricity tariff available. Look at how much electricity you use on average and compare the tariffs available from suppliers.

• Switch off equipment when not in use (printers, laptops, monitors or larger equipment).

Training your business to save

There are a few more ways to help your business reduce costs, and it’s important to have the right resources. Encourage your staff to join the SEAI Energy Academy where they will learn about the basics of energy efficiency, helping you embed a sustainable energy use culture within your organisation. Register for the next Introduction to Energy Management training to learn how to create an energy action plan. If you spend more than €10k per annum on energy, apply for the Support Scheme for Energy Audits. Businesses can receive a €2,000 voucher towards a high-quality energy audit. This will help you identify your significant energy users and steps you can take to reduce your energy use.

Always get advice from a registered professional. Before you commit to purchasing and installing upgrades or investments, check if there is an SEAI grant available.

Ali Donnellan

Business & Industry

Programme Executive, Sustainable Energy Authority of Ireland

Working with local businesses and shopping locally has positive knock-on effects on the country — with every €20 spent locally worth over €100 to the Irish economy.

~Brid O’Connell, CEO, Guaranteed Irish

How a wireless payment system provides new business growth opportunities

Expanding a daytime coffee shop into a nighttime pizza restaurant was easy with an advanced payment system, helping Mo to focus on what matters most to him: the food and his customers.

From a small-but-characterful premises in a Dublin 4 suburb, Mohammed (Mo) Mrabat fuels the locals with breakfast, lunch and dinner. From morning coffee and cakes to paninis and pizza, his first love is food.

Originally from Morocco, Mo moved to Ireland in 2003 and has had varied roles in hospitality since then, including working as a chef in a five-star hotel and as the personal chef for Morocco’s ambassador to Ireland.

In 2013, he set up his coffee shop, Café Diem, in Donnybrook. But it’s much more than that.

“It’s not just a coffee shop; now, it’s a community,” Mo says. “I know everybody’s coffee order; they just sit down and wait for their coffee. Local groups meet here, new visitors chat with regulars, and people even leave their spare keys here with me. I always call them the Café Diem ‘family’… I never really call them ‘customers’.”

Business expansion made easier with payment system

In 2021, he invested in a striking, mirrorball-style wood-fired pizza oven to facilitate the expansion of his business. Now, he not only runs Café Diem by day, but he also runs Mo’s

Pizza restaurant by night.

“We had the opportunity to grow the business a bit,” Mo explains. “I’d never had experience as a pizza chef before then but, as I told my Italian friends: I’m not going to do Italian pizza; I’m just doing good pizza.”

Mo chose Poynt, the smart, wireless terminal from Elavon. With the Poynt payments system, Mo’s Pizza could take orders online, over the phone, from walk-in customers paying with cash and even from the premises’ outdoor tables –and then send the orders straight to the kitchen.

“They provided the terminal and point of sale in one machine and that’s exactly what I was looking for. I don’t have to store it anywhere. I just charge it in the morning and use it all day.

“I’m not an accountant. I’m a chef,” Mo continues. “I love food and that’s what I want to focus on. I needed a payments solution that could help me run all aspects of my businesses in one system, especially as Café Diem and Mo’s Pizza are quite different.”

Tailoring to work for your business needs The wireless payment terminal, Poynt, gives you the opportunity to customise your terminal, and Mo was

able to add apps specially tailored for cafés and restaurants. “You can add apps and different categories, and identify your busiest times of day and your best-selling items. You can even set up special offers and provide gift cards. In one system, you can do everything.

“Plus, the cloud system means I can check my business from anywhere, in real-time,” he adds.

Every week, Mo checks the tips that customers have left his business and he interprets this information in a particular way. “You can set up a tip option on Poynt – either by percentage, such as 10% or 15%, or the customer can set their own amount. When I see online how much I’ve made in tips per week, I think of it like a review of my business!

“Elavon gives me the opportunity to look after my business properly,” says Mo. “Otherwise, I’d be thinking about payments and chargebacks and refunds – and if there was a problem, I couldn’t solve it myself on the spot. Now, if there are any problems, customer service solves them quickly - it’s really easy.

“I’m not a big planner, but I believe in Elavon and I’m sure I’m going to be with them as long as I have a business, I really do,” he concludes.

Mohammed (Mo) Mrabat

Owner, Café Diem & Mo’s Pizza

I needed a payments solution that could help me run all aspects of my businesses in one system.

Staying up to date with contactless payments will benefit your business

Many business owners don’t know that contactless limits can be far higher than €50 when your customers are using a digital wallet.

Digital wallets, such as Apple Pay or Google Pay, are the fastest-growing payment methods in the world and link a bank account or payment card to a smartphone or smartwatch,” says Patrick Doyle, Vice President of Point-of-Sale Solutions for payments experts Elavon Europe.

“So, if your customer doesn’t have a card but is paying using a phone or watch, then anyone taking payments for your business should know this, so you aren’t putting off customers wanting to spend over €50,” says Patrick. The limit for digital wallets is set by your customer’s bank or their available funds.

Simple yet secure “Digital wallets are very secure,” adds Patrick. “They encrypt all data,

Why are digital wallets so popular in ecommerce?

Digital wallets are on the rise. Research by the card brand Discover shows that across Europe, digital wallets are the single most popular way of paying when shopping online.

That might come as a surprise to some, but perhaps it shouldn’t. Anyone familiar with digital wallets will know they provide a level of convenience and security almost unrivalled by other methods of paying.

Peter Charmant, Head of Corporate Retail for Pan-EU and Ireland for payments experts Elavon Europe, says: “Business owners should familiarise themselves with digital wallets to capitalise on this growth area.

“Digital wallets are deceptively simple – in many cases, there isn’t a physical card behind it,” he says.

“Remember: a digital wallet isn’t just on a phone, where it’s sometimes called a mobile wallet. It can also be on a laptop.”

Paying online is as easy as a click of a button

The most common types of digital wallet in Europe are Apple Pay and

Google Pay, but there are several others you might come across including Amazon Pay, PayPal and Alipay, which is widely used in China.

Take Apple Pay as an example. Once a user has set up their card in the wallet, they can pay in-app or while browsing your website just by double clicking the button on the side of their smartphone. It’s a very similar process, and just as simple, with Google Pay or a wallet on a desktop computer.

At this point, you should think about where most of your customers are based and make sure you accept the schemes most popular in those locations.

Whichever digital wallet your customer uses, there’s now no need for clumsy entering of long card numbers or going through the lengthy 3-D Secure authentication process.

which protects both your customer and your business. They use layers of authentication like an in-app PIN, or biometrics, such as facial recognition or a thumb print, to make sure the user is who they claim to be.”

Because digital wallets tend to use existing contactless technology, there’s no need for you to invest in new and costly hardware to accept wallets in store.

“Whatever your business model and no matter who your customers are, digital wallets are here to stay and growing in popularity,” says Patrick.

“Building them into your customer experience should be a critical part of your customer journey and payments strategy,” he adds.

Patrick Doyle Head of Pointof-Sale Solutions, Elavon Europe

Paid for by Elavon

Peter Charmant Head of Corporate Retail, Pan-EU and Ireland, Elavon Europe

Increasing diversity in entrepreneurship and leadership is key to success

Ireland’s economic success will be driven by harnessing a strong entrepreneurial ecosystem which utilises the skills, ambition and talent of a diverse population.

Numerous studies have shown that gender-balanced teams and businesses perform better. This is one of the many reasons why Enterprise Ireland has a strong focus on increasing the participation of women in entrepreneurship and leadership roles.

Women in entrepreneurship Enterprise Ireland’s ‘Women in Business’ six-year action plan is a wide-ranging strategy with the objective of increasing the number of women who are starting, leading and growing businesses in Ireland.

This strategy is underpinned by the four key objectives of increasing the number of:

1. Women becoming entrepreneurs

2. Women founders in High Potential Start-Ups (HPSU)

3. Women-led companies growing internationally

4. Women in senior leadership positions in companies in Ireland

This strategy builds on Enterprise Ireland’s significant experience over the last decade in addressing the deficit in women-led HPSUs and includes a range of initiatives, along with capability development and financial support. These efforts are paying off, and progress is clear. For instance, in 2011, just 7% of the HPSUs we funded at the first seed stage included a woman on the founding team; but in 2022, this had risen to 37%.

Network of supports

Despite the positive momentum and progress, there is room for further growth in this area, and our organisation continues to focus on how we can support that.

For example, we have developed the ‘The Level Project,’ which includes an Action Planning Toolkit which is freely available to all companies online, allowing them to assess the gender balance in their organisations and put in place practical actions to enhance the balance in their senior teams.

Our Women in Business strategy is also a priority for our overseas teams in our network of 40 international offices. For example, this month, we are co-hosting a Women in Technology event at Ireland House in San Francisco. And last year, we hosted a Women in Business event in Washington DC as part of our programme of activities for St Patrick’s Day.

We also work with partners to support several ongoing initiatives focused on supporting women in business, including the ‘Going for Growth’ programme and the recently launched ‘Inspiring Women Entrepreneurs’ initiative.

By supporting the expertise of our diverse population, it will result in better businesses and sustainable economic growth.

Sinead Lonergan Women in Business Manager, Enterprise Ireland

Despite the positive momentum and progress, there is room for further growth in this area, and our organisation continues to focus on how we can support that.

Take advantage of flexible payment plans with retail credit

Though consumer instalment plans have certainly become popular in recent years, retail credit products have equally undergone a transformation and evolved substantially during this time, explains PJ Byrne, CEO (UK and Ireland) of payments provider, humm.

How has flexible finance evolved?

PJ Byrne Chief Executive Officer (CEO),

Customers have become more accustomed to using flexible finance products — such as retail credit — when purchasing higher-value products and items. They are increasingly seeking an alternative way to pay instead of using costly credit card facilities which offer no structured repayment plans. Flexible finance has therefore evolved to the point where many consumers value products and solutions provided by transparent, trusted credit providers. With this awareness, they have become more comfortable using products such as retail credit.

The benefits of flexible finance are evident; our retail partners at humm report an average order increase of 40% once they give customers the retail credit option.

What has your company’s role been in the expansion of retail credit?

As the market leader in retail credit products, with a presence in Ireland for over 14 years, humm has been well-positioned to lead the expansion of retail credit. Our services have allowed consumers to view retail credit as a viable alternative to credit cards and other forms of credit.

Given the costly and unpredictable interest rates of credit cards, plus the absence of a plan on when and how to repay funds, they are not suitable for every consumer.

Our retail credit product is therefore designed and customised for individuals by offering zero or low interest rates, ensuring that it remains both accessible and affordable.

We also offer a time-defined plan for repayments, with timely reminders for the customer’s convenience.

How can businesses benefit from a retail credit product?

Consumers recognise the unique benefits of bespoke payment options and appreciate the convenience, security and flexibility offered by a retail credit product.

Retail credit products offer flexibility by allowing consumers to purchase goods, items and services at their current cost. During inflationary times, this ensures that consumers are getting the best value for money without incurring high interest on credit loans.

We offer our customers both financial and personal security via our products. Our structured, time-defined instalment plans establish a clear schedule for repayments, providing peace of mind to both the consumer and the retailer.

We make it convenient. Retail partners who offer consumers a retail credit option report both an increase in revenue and higher conversion rates, without having to resort to traditional tactics such as discounts and flash sales. Moreover, flexible finance grants the consumer instant ownership of a product, while ensuring that it remains affordable.

How do you keep products affordable for consumers?

Rather than saving up for an extended period to purchase a product, which could increase in cost, consumers can secure it at its existing cost via retail credit.

Traditional credit cards have not escaped the pressures of inflation, so consumers who take out highinterest loans are now placing themselves at further risk as interest rates may rise.

In these cases, what may have initially been an affordable purchase may become unaffordable — with little warning. Through our zero and low-interest retail credit products, we are installing affordability by facilitating responsible lending and allowing consumers to purchase products at their current prices.

How does financial technology underpin retail credit?

Retail credit is fintech at its core, and we use technology to ensure proportional lending. Upon accepting new customers, our technology leverages access to any applicant’s financial history to ensure that they can meet the scheduled repayments.

We also offer customers the option to make payments directly from their bank account, so we can offer favourable interest rates without the typical fees associated with card transactions.

The funds are automatically disbursed to the merchant, ensuring minimal delay between the customer making payment and the retail partner receiving the funds.

humm provides flexible finance solutions both in-store and online. Globally, we have 2.8 million customers, with over 3.3 billion purchases. We have 72,000 retail partners ranging from well-renowned brands to family-run businesses.

Find out more at shophumm.com

Paid for by humm

humm group UK and Ireland

Rather than saving up for an extended period to purchase a product, which could increase in cost, consumers can secure it at its existing cost via retail credit.

Making use of digital technologies will help small Irish businesses grow

Digital technologies have the power to transform small businesses, opening new opportunities that were previously only available to businesses of scale.

Embracing digital technologies is crucial for small firms as the Irish economy transitions to net zero and aims to boost productivity amongst employers and provide high-quality jobs and employment opportunities for people to live and succeed in all regions.

How digital technologies can help

Entrepreneurs and small business owners can harness digital technologies in many ways – from simply going online to the digitalisation of products and business processes, to facilitating exporting and utilising digital technologies to develop new markets and business models.

The Covid-19 pandemic was a catalyst for small businesses to adopt or increase their use of digital technologies. To build on this and remain competitive, the Irish government must find new ways to boost digital growth for small businesses through increased investment in grants and consultancy, digital skills training and education for the entire workforce. All of which must be accompanied by efforts to improve broadband capacity throughout the country.

Ensuring safety with digital technologies

Sustained investment in a business’s digital infrastructure — including cybersecurity — is essential to protect companies, customers and data. In 2022, the National Cyber Security Centre and the Garda National Cyber Crime Bureau observed a trend of small and medium-sized businesses being increasingly targeted by ransomware groups.

A recent SFA survey found that when it comes to protecting customers’ data and preventing ransomware attacks or other cybersecurity breaches, younger and smaller businesses with 0–9 employees see themselves as being the least competent.

Older businesses of 21+ years and those with over 50 employees are over 10% more competent than younger businesses. While understanding of how to manage these challenges increases in line with the maturity of the business, these figures are concerning, as the majority of businesses in Ireland employ less than 10 employees.

Using practical business tools

Both the National Cyber Security Centre and the Garda National Cyber Crime Bureau have the resources to address cyber risk and protect systems from cyber threats such as ransomware. Business owners can also access free upskilling in digital and automation through MentorsWork delivered by the Small Firms Association.

With one-to-one mentoring sessions, peer-focused workshops, expert-led masterclasses and an online learning platform, small businesses can learn how to move their business and marketing online, building virtual communities and automating day-to-day tasks.

Sustained investment in a business’s digital infrastructure — including cybersecurity — is essential to protect companies, customers and data.

To learn more about the MentorsWork programme, see mentorswork.ie. The SFA proudly represents a diverse membership of businesses with less than 50 employees: homegrown and spanning every sector of our economy. More information about the SFA is available at www.sfa.ie or on Twitter @SFA_Irl

Helping Irish SMEs take their businesses global

Small to medium enterprises (SMEs) are the backbone of the economy, accounting for 95% of businesses and over two-thirds of global employment. When SMEs and entrepreneurs succeed, everyone benefits — so what’s the next step for growing your business?

At DHL Express, we pride ourselves on being a market leader in the express logistics industry. That means that we are ideally placed to support your business in taking the next step –going global. Expanding your business globally can be a straightforward and rewarding process, and we are here to help every step of the way.

Irish businesses are in a fantastic position to grow by selling internationally through e-commerce. Whether you’re just starting your export journey or you’re already selling overseas, we can help your business go further.

Working with businesses to expand their reach Hampers & Co is Ireland’s luxury online hamper and gift retailer. For over 31 years, they have packaged, sourced, designed and delivered beautifully presented hampers to individual and corporate clients across the globe. Ensuring that products reach overseas clients on time and in perfect condition is essential to Hampers & Co.

Emer Purcell, Managing Director of Hampers & Co says: “We were extremely thorough in choosing the right logistics partner to meet our needs and be an extension of our brand. DHL fulfils this requirement and provides a comprehensive tracking service so that the gifts are monitored on their journey and any issues are identified and resolved quickly.”

“The ability to service customers in the UK is essential to our business, and Brexit presented us with a real challenge. Our logistics provider helped by continuing to support us in making this a seamless process, and they assist with the necessary customs clearance paperwork,” adds Purcell.

Customer service going the distance

Made Personal provides premium, personalised swag to corporations, businesses and communities around the world. They design, source, manufacture and distribute quality personalised products — quickly and within budget.

Robert Kennedy, Co-Founder/Client Director of Made Personal says: “We partnered with DHL as they ensure our customer service level is maintained globally right through to the final mile of delivery. Sustainability is at the core of everything we do, so it was important for us to partner with a logistics provider who champions sustainability and shares our values.”

“For our clients who find themselves in time-sensitive situations, we can offer next-day delivery across Ireland and the EU and provide a fully tracked service for them, so they are kept up-to-date at all times.”

Continuous support for Irish businesses

We connect people across the world and enable international businesses to thrive. The services and connectivity we provide into the global marketplace have become an increasingly important part of Ireland’s economic infrastructure over the last 50-plus years, and we are committed to delivering the best logistics solutions to our customers for the next 50 years and beyond.

Tips for going global

• Research: A quick online search can reveal a lot about a country — the biggest selling product categories, price points, competitors, etc. Know the market you want to get into.

• Health check your website: Does your website state you’re shipping internationally? Do you know what countries most of the traffic comes from? Do you offer a variety of shipping options? Your website is the first port of contact between you and the customer. Make sure it is sending the messages you want it to.

• Learn about customs: Customs regulations differ from country to country. For example, you can’t ship plastic flowers to Nigeria. Knowing the legalities of the countries you want to ship to will set you up for success.

• Have a trusted logistics partner: Customers view a business’s delivery partner as an extension of the supplier’s brand, so make sure to partner with a logistics provider that you are proud to work with and that matches the values of your business.

Sustainability is at the core of everything we do, so it was important for us to partner with a logistics provider who champions sustainability and shares our values.

~

Robert Kennedy Co-Founder/Client Director of Made Personal (Image provided by DHL)

We were extremely thorough in choosing the right logistics partner to meet our needs and be an extension of our brand.

~Emer Purcell Managing Director of Hampers & Co (Image provided by DHL)

Numerous studies have shown that gender-balanced teams and businesses perform better.

~Sinead Lonergan, Women in Business Manager, Enterprise Ireland