Ulster Business January 2024

JANUARY 2024 Price £2.30 (€2.60)

Driving the EV network forward

Electric vehicle charging firm Weev on its ambitious expansion plans right across Ireland

Leaders in Business We speak to some of those leading the way throughout the NI economy

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Contents 08 News

62 Profile

84 Photocall

The latest news and exclusives from across the world of Northern Ireland business

Strategic Power Group on its growth and expansion plans here

A look at what’s been happening across Northern Ireland in the last few weeks

16 Cover story

67 Ones to Watch

92 Lifestyle

Philip Rainey of Weev on rolling out an EV charging network right across Ireland

Ulster Business profiles some of our entrepreneurs and leaders of the future

John Mulgrew picks his six top watches for 2023 in a year of some extraordinary horology

31 Outlook 2024

77 Motoring

94 Travel

We speak to the experts about what’s ahead for the sectors in the year ahead

Kia’s popular Niro crossover has been entirely redesigned from the ground up

The French Alps will take your breath away, and so will skiing, writes Édaein O’Connell

49 Leaders in Business

82 Appointments

96 Technology

We speak to the chiefs helping drive Northern Ireland forward

We showcase some of the new job roles and appointments across the sectors

Adrian Weckler speaks to serial tech entrepreneur Oisin Hanrahan

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JANUARY 2024

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EDITOR’S COMMENTS

Another strong year ahead for NI

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nd just like that, another year is firmly behind us all.

We’ve seen many developments and changes to our business environment and economy in the last 12 months.

But with that, companies have continued to show their resilience and ability to adapt to an evolving situation.

That’s all while, at the time of writing, we sit without a working Executive. However, optimistically, there’s been some positive movement and we could be back up-andrunning by the time you read this. Let’s all hope. I’ve said that before.

Welcome to January’s Leaders in Business

edition of Ulster Business, the first magazine of 2024.

In this edition we speak to and profile some of the company chiefs and industry leaders helping drive our economy forward.

We also speak to Philip Rainey of electric vehicle charging infrastructure business Weev, which is our cover story this month.

It’s a firm, which has now received substantial investment, and is expanding and improving the network right throughout Ireland.

In this edition we also showcase our Ones to Watch. These are already leaders or entrepreneurs who will one day be leaders in their respective fields.

We also hear from top industry experts about what they think may be in store for the economy in 2024.

I’d once again like to thank everyone for their support in 2023 and in previous years.

Ulster Business continues to be a flagship business publication which showcases the best Northern Ireland has to offer. And it’s being made possible with the support it’s received in its more than 30 years of publication.

We’ve a few new things in store for 2024, including the return of a revamped Ulster Business Podcast. Here’s to many years ahead. ■ John Mulgrew

Publisher Ulster Business c/o Mediahuis UK Ltd Belfast Telegraph House, 33 Clarendon Road, Clarendon Dock, Belfast BT1 3BG

Editor John Mulgrew, j.mulgrew@independentmagazinesni.co.uk

Printer W&G Baird Greystone Press, Caulside Drive, Antrim BT41 2RS www.wgbaird.com

Graphic design Susan McClean, Mediahuis Ireland Design Studio

www.ulsterbusiness.com

Advertising Judith Martin, j.martin@mediahuis.co.uk

Cover photo Elaine Hill

@ulsterbusiness

Ulster Business Magazine

Mediahuis UK Ltd © 2024. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form, or by any means, electronic, mechanical, photocopying, recording, or otherwise without the prior permission of Mediahuis.

JANUARY 2024

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NEWS

A month in numbers

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The number of jobs which could be created with a new storage and warehouse facility at Nutts Corner.

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8%

The growth in Northern Ireland’s services sector since the start of the pandemic.

1%

The growth in the production sector since the start of the pandemic.

5%

The level of slump in Northern Ireland’s retail sector when compared to pre-pandemic levels.

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Profits fall at pharma giant Norbrook amid year of redundancies

Norbrook chief executive Andrea Iucci

ne of Northern Ireland’s biggest pharma firms has suffered a profits slump in a year which saw 140 staff being made redundant amid rising costs.

Norbrook, which produces veterinary medicines, saw pre-tax profits tumble from £21.3m to £3.9m for the year ending July 2023. Turnover rose slightly to £238m.

Andrea Iucci, who took over at the new chief executive around two months ago, said it was a year of significant transformation for the firm, which included £15m of investment in machining and infrastructure.

Mr Iucci said that investment was needed to “improve manufacturing capacity” to achieve higher standards.

Norbrook said it had “implemented a robust cost reduction strategy” to deal with the challenging global economic environment and heightened competition in the animal health sector.

In terms of overall business, Mr Iucci said it continued to expand, including into the US market and had witnessed “improvements across all the operational metrics”. “[We also introduced] six new products which contributed to a return in investment,” he said.

Speaking about the reduction in profits, he said “given all the investments the company made… [it had] impacted negatively on profit margin”.

Looking ahead he said Norbook is continuing to improve its innovation pipeline, developing new products and improving its ability to support its customers across the globe. He said he remained “optimistic for the future”. “[The past year] was an important chapter to build a foundation,” he said.

Norbrook undertook a voluntary redundancy scheme last year which saw around 140 staff losing their jobs.

Mr Iucci said the programme “took an approach based on values rather than a numerical target”.

He said the firm didn’t envisage any further jobs being lost in the year ahead.

On the Windsor Framework, Norbrook’s chief financial officer, Oliver McAllister said the firm was “continuing to work as normal” and it was “not a big hinderance to us”.

“It hasn’t had a huge effect either way,” he said. “It wouldn’t be towards top of the list of issues which we deal with.”

Mr Iucci said: “Sometimes it’s outside our control... we try and focus on what is within our control.”

Speaking generally about the company’s performance, he said: “[This last year] was a transformational year for the company.

We had a strong number of new products launched continuing our focus on being the first generic to market with a high degree of differentiation. We continue to work with our customers with whom we have strong, long-term, close relationships.”

NEWS

NI tech firm ‘aiming for stock market listing’

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ne of Northern Ireland’s burgeoning cyber-security firms wants to grow into a business which is listed on the stock exchange, Ulster Business can reveal.

Steve Berry is chairman of Angoka – an internet of things (IoT) security company focused on protecting machine-to-machine communications for smart cities and mobility.

He’s previously been responsible for two quotations on the London Stock Exchange and worked in the capital and securities market in New York, Tokyo and London.

Alongside Angoka’s headquarters in Belfast, the company has an office in London and The Hague.

However, Mr Berry’s ambitions are global. “Having lived and worked most of my life internationally, I bring a perspective in terms of how one goes about expanding internationally,” he said.

“For me, it’s not just about building a company, but can we build a company that can potentially be a global champion? We shall see how that journey materialises [for Angoka]. I’d like to get a stock market listing. We still have a way to before we do that. It would be nice to establish ourselves as a global champion for the UK and Europe.”

JANUARY 2024

Steve Berry

Mr Berry is one of four co-founders of Angoka and he focuses on external stakeholders rather than the day-to-day operations of the company. “That could be about strategic relationships,” he said. “It could be about our shareholders or funding opportunities.”

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NEWS

Belfast waterfront ‘could rival Copenhagen or Seattle’

By Margaret Canning

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elfast has the potential to become a great waterfront city in the same league as Copenhagen and Seattle, it’s been claimed.

Charity Maritime Belfast Trust has led the development of an ambitious plan for the area from Sailortown to Ormeau Park, called Belfast Waterfront Promenade.

It’s claimed it would connect the River Lagan through the heart of the city along both sides of its waterfront.

They said that 10,000m of the waterfront is available for development and provides a ‘once in a generation opportunity’ to provide economic and social benefits for Northern Ireland.

There would be nine separate “character areas” including Sailortown, Harbour Park and Harbour Wharf near Titanic Belfast, Gateways centred around the Lagan Weir and Up River which stretches to Ormeau Park.

And there are plans for new pedestrian and cycle bridges across the Victoria Channel, as well as public spaces, playgrounds, heritage trails, floating boardwalks, businesses and wetlands, moorings and decking.

The framework has been drawn up by Danish urban design firm, Schulze-Grassov, which also worked on Berlin’s Potsdamer Platz and London’s Design District in Greenwich.

“Over the past 30 years Belfast has rediscovered its waterfront with projects such as the Lagan Weir, ICC Belfast, Odyssey Arena, Titanic Quarter and City Quays,” Kerrie Sweeney, chief executive of Maritime Belfast Trust, said.

“Such is its scale, however, over half of the city’s waterfront area remains to be regenerated. We’re ready for the next stage, but this generational opportunity will only realise its full potential if everyone adopts a joined-up approach.

“The Promenade framework, backed by all the key groups involved in Belfast’s waterfront, is the starting point for the next 30 years of development.

Quotes of the month

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Launching the new Belfast Waterfront Promenade framework are councillor Clíodhna Nic Bhranair, Kerrie Sweeney, Maritime Belfast Trust and Oliver Schulze, Schulze+Grassov

“It won’t happen overnight, but there’s no reason why Belfast can’t be a great people-centric waterfront city on par with locations such as Copenhagen, Stockholm or Seattle.”

And Oliver Schulze, co-founder and partner with Schulze+Grassov, said: “Belfast is world famous for its shipbuilding heritage, but few people – internationally or even in Northern Ireland – really appreciate how long the city’s waterfront is and its proximity to the city centre - or the stunning backdrop of the Belfast Hills.

“These natural advantages help make this remarkable urban space internationally significant. The framework aims to build upon these elements and create a shared sense of place to link and enhance future development projects.”

“Despite the recent challenges, I am hugely encouraged by the performance of Northern Ireland’s tourism businesses over the past 12 months.”

“The commercial property market within Northern Ireland has plenty of opportunities and an abundance of potential to unlock.”

“Demand for our dairy products continues to grow, and we are always innovating to ensure we continue to deliver for our farmers.”

Tourism NI’s John McGrillen writing in this edition of the magazine.

Brian Lavery of CBRE looking at the year ahead for commercial property.

Dale Farm chief Nick Whelan featured in this edition of Ulster Business.

NEWS

Lunn’s unveils Rolex Certified Pre-Owned programme

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uxury jeweller Lunn’s has extended its horological offering and joined the Rolex Certified Pre-Owned programme.

The new programme makes it possible to

purchase pre-owned watches that Rolex itself has certified and guaranteed.

Each model will be presented in a Rolex Certified Pre-Owned box and pouch and will come with a two-year international warranty.

With a team of Rolex specialists and a Rolex Authorised Service Centre onsite, Lunn’s are authorised to sell and care for Rolex watches.

The accreditation ensures the continued functioning of the watches over the years.

“We are honoured to launch the official Rolex Certified Pre-Owned programme in Belfast, joining the select group of retailers in the UK and Ireland to sell Rolex Certified Pre-Owned,” John Lunn, managing director of Lunn’s Jewellers, said.

“The launch represents another milestone in our long-standing partnership with this esteemed brand, which saw the opening of our Rolex showroom and fully authorised Rolex workshop back in 2019. We want to thank Rolex for continuing to place their trust in Lunn’s and we can’t wait to introduce the programme to our clients.”

Lunn’s has now launched the programme, introducing a new collection of Rolex Certified Pre-Owned watches at its flagship showroom located at Queen’s Arcade, Belfast.

Childcare provision ‘crucial for NI economy’

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hildcare provision must be a critical part of Northern Ireland for a fully-functioning economy, it’s been claimed.

A survey of Chartered Accountants Ireland members showed an overwhelming 75% citing cost as being the biggest obstacle to securing appropriate childcare in Northern Ireland.

“For many, the financial burden of childcare is staggering, with two-thirds of respondents currently paying up to £1,000 each month per child and an additional onethird paying between £1,000 and £2,000 per month, per child,” Janette Burns, chair of Chartered Accountants Ireland’s Northern Ireland tax committee, told Ulster Business.

“Furthermore, over half of those surveyed had either reduced their working hours or requested to work flexible hours because of childcare pressures.

“The issue has become so critical that a Westminster committee intends to launch an inquiry into childcare costs if the NI Executive is not restored by the New Year.

“It’s time childcare provision is viewed

JANUARY 2024

Janette Burns

centrally as part of the critical infrastructure necessary for a functioning economy.

“The high cost of childcare needs to be urgently addressed in 2024. Although not a direct cost of businesses, difficulties faced by parents in accessing and funding places

in childcare settings is impacting labour market participation (and therefore lowering Exchequer receipts) and exacerbating the skills shortages across NI.” Read the full article on page 34-35

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NEWS What the new Kainos office development could look like when completed

Kainos’ new office building ‘could create 800 jobs and contribute £35m to economy’

By John Mulgrew

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ainos’ new office building for Belfast city centre could create more than 800 jobs during its construction and boast an economic impact of £35m over the next decade, it’s been claimed.

Detailed full plans have now been filed for the 14-storey scheme, with work starting on the Dublin Road building in Belfast city centre as early as the second quarter of next year, developers say.

Planning documents suggest it could be completed in the second quarter of 2026.

“The construction and operational phases of the project are estimated to generate a 810 jobs and £35m of GVA over the period 202434,” fresh documents say.

“The project will also help to anchor Kainos as a strategically important employer in the NI ICT sector in its new headquarters and will

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bring additional employment capacity in high quality office accommodation into the city centre.”

The office building will sit beside a student accommodation scheme, which is being developed jointly with Queen’s University.

“The purpose-built student accommodation will also help to increase the population residing within Belfast and also improve its attractiveness to international students,” it says.

Earlier this year the company’s new chief, Russell Sloan, said the IT services giant is “set up for further growth and opportunities ahead” as he takes over at the helm of the 3,000-strong business from long-time chief Brendan Mooney.

Mr Sloan had been at the helm of the firm’s digital services business – forming it back in 2013. It then had just 35 staff.

That’s grown into a 1,600-strong team. He joined Kainos back in 1999.

New planning documents say the office scheme could generate £2.8m of expenditure and £900,000 over the decade within maintenance and retail activity.

Speaking to Ulster Business in September, Mr Sloan said: “The exact timeframe is not defined – it could be around 2027 [but] timescales could come forward or push out. It’s a substantial building once we get through the planning process.”

An average of just 25% of staff are in the firm’s offices each week with large numbers working remotely, in common with other businesses in the IT sector.

“It depends on what works for you as an organisation,” he said. He said Tuesday to Thursday remain the busiest days for staff coming into the office. “[We are] now starting to see people in that longer pattern of working – they are missing social interaction. That’s the piece we are seeing.”

NEWS

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Strangford House in Newtownards

Office home to NI insurance firm goes on sale for £3m

he headquarters of a Northern Ireland insurance firm has gone on the market for £3m, Ulster Business can reveal.

Strangford House is a modern purpose built office headquarters in Newtownards, which is currently home to Hughes Insurance.

It’s now being marketed for sale by Osborne King, which is seeking offers in excess of £3m.

It’s understood it’s being sold with vacant possession, with the current owner and tenant relocating.

Strangford House includes two interconnected buildings of around 17,000 sq ft and 18,500 sq ft, with a total of 185 car park spaces.

“Strangford House extends to over 35,000 sq ft on a highly prominent self-contained site,” Richard McCaig, director, Osborne King, said.

“The property is fitted to an excellent standard throughout with fully fitted offices, superb staff amenities and also benefits from 185 car parking spaces.

“This is an excellent opportunity for an owner occupier or investor to acquire a modern well maintained building in a highly visible location.”

Both buildings are finished to a high standard including raised access floors, air conditioning, LED lights, natural light throughout and lift access.

Staff amenities include kitchen/breakout facilities and games room.

The prominent self contained site benefits from significant on-site car parking provision and mature landscaped grounds.

Danske Bank partners with Young Enterprise for new scheme

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anske Bank has partnered with Young Enterprise to codevelop a new educational programme focusing on biodiversity entrepreneurship.

‘Challenge: Biodiversity powered by Danske Bank’ is aimed at post-primary school children in years eight to 10 and will showcase innovative local businesses from across the agri-food, infrastructure, manufacturing and tourism sectors.

The programme is being developed in line with the curriculum and is relevant for both geography and ‘learning for life and work’ subjects.

“Pupils will learn why nature and biodiversity are important to the economy, the impact industries can have on biodiversity and insights into some of the innovative solutions developed in response by local entrepreneurial businesses,” it says.

Carol Fitzsimons, chief executive of Young Enterprise, said: “There is a real opportunity

JANUARY 2024

Danske Bank chief Vicky Davies and Young Enterprise chief executive Carol Fitzsimons

in the traditional education system to showcase biodiversity entrepreneurship whilst helping to improve understanding of the ‘green’ economy and careers among pupils, before they choose their GCSE subjects.”

And Vicky Davies, chief executive of

Danske Bank, said: “It’s fantastic to be partnering with Young Enterprise to help educate school children around how businesses operate and to give them an early understanding of the future opportunities that will be available through the growing green economy.”

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RECRUITMENT

Are university degrees becoming less important in the workplace?

By John Moore, managing director, Hays NI

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here was a time when if you wanted to get into a professional career, it would have been unlikely that you wouldn’t go to university and get a degree qualification to set you on your way.

While university degrees are of course still highly prized, new research from Hays, carried out as part of our annual Salary Survey showed that employers are now looking for other qualities as much as the qualifications.

The survey of 15,000 people, including more than 700 people in Northern Ireland, found that nearly half of employers (45%) said it is not important that a job applicant has a degree. Only 16% of employers surveyed said having a degree is essential, while 39% said it is quite important.

This might be surprising news to some, given that our workforce is the most educated in history and many people still believe that a university education is key to getting a ‘good’ job.

and problem-solving. Aptitude for these skills is often valued by employers over academic achievement, even when an applicant does not have direct experience for a role.

There are many important skills which are developed through any degree and some jobs absolutely require a very specific university education – you wouldn’t want to be operated on by someone without a medical degree, for example.

For workers, it opens up opportunities for people who have faced barriers to higher education outside of their control, such as cost, those who did not thrive in education or who simply preferred to start earning money as soon as possible after school.

But with employers having experienced high levels of competition for talent for several years, what were once non-negotiable criteria for putting a candidate on an interview shortlist are in some cases now seen as desirable, not essential.

It means that while having a degree on your CV is still a huge plus point, candidates can stand out from their competition in other ways.

In our survey, a fairly emphatic 73% of employers said a willingness to learn is now more important than existing qualifications, indicating that more employers are now prepared to hire a candidate for their potential.

Some 80% of employers say they’re prepared to hire someone who doesn’t have all the required skills for the job, with the intention of upskilling them.

If indeed there is a move away from focusing too much on having a degree, this has implications for both jobseekers and employers.

The shift makes sense for employers. Looking beyond the traditional graduate applicant pipeline gives them access to a different pool of potential employees with different skillsets and attributes. It’s proven that having a diversity of backgrounds in your workforce has huge benefits.

It’s also understood that many of the skills in high demand are better learnt outside a classroom – so-called ‘soft skills’ such as communication

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Some private sector industries are better placed to hire those without university degrees – over recent years we have seen a huge rise in ‘earn as you learn’ schemes and higher apprenticeships in technology and professional services as firms have realised the benefits of training their own talent.

One interesting outcome of our survey was that while only 12% of private sector employers said it’s essential that a job applicant has a degree, that number was more than one in five (22%) among public sector employers.

This gap was even more pronounced in responses from Northern Ireland, where we have a larger percentage of public sector employment than other regions, suggesting attitudes are changing a little slower in that sector.

But the research shows clearly that employers are becoming more openminded about hiring people from a more diverse range of backgrounds, which can only be seen as a positive step. ■

INSURANCE

AbbeyAutoline: 50 years as an insurance leader

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ome 50 years ago when George Storey set up his first small insurance business in Newtownabbey, little did he think it would blossom into an industry leader with 17 branches right across Northern Ireland and beyond.

AbbeyAutoline is marking an important milestone. It’s a business which has both grown substantially here but also continued to maintain its local reach and presence.

“The original business started against a fairly difficult economic backdrop in the 1970s, but it was the very entrepreneurial, charismatic business founders who helped start building this really loyal team – and the firm grew on the back of really strong relationships,” Julie Gibbons, managing director of AbbeyAutoline, said.

AbbeyAutoline now deals with some £150m in premiums, working with around 250,000 clients. It has grown its workforce to around 450 people based across 17 branches.

The firm is Northern Ireland’s largest broker but also boasts a presence in the Republic, with a branch in Co Cavan and staff based in both Dublin and Wexford.

JANUARY 2024

It also has reached into the GB market with Bond Lovis and offers commercial and personal lines in the London area.

“We have a mixture of personal lines: motor, home and young driver and as well as commercial vehicle, haulage and business insurance,” Julie says.

“We have stayed ahead of the competition by spotting what is coming next. The business was merged with Autoline almost five years ago, which brought a sizeable commercial book back into the business, and that has grown substantially since then. We had a refreshed team from different backgrounds, which brought a freshness into the integrated business.

“It’s about maintaining family culture, but also being a larger corporation with that high level of engagement – and we continue to engage with our local communities as a local business.”

She says the industry has slowly evolved as a whole, moving from ratings guide books to technology enabling real-time insurer rates.

“In Northern Ireland that trusted broker status is still very relevant,” she says. “The younger generation will take their lead from friends and

Julie Gibbons

family, and they will ask for recommendations and act on them. They may shop around online to get a good price to negotiate, but they are still dependant on advice.”

AbbeyAutoline also understands the importance of its people to the success of its business, and why new modern working practices remain a key part of that.

“We have been able to embrace much more modern working practices in terms of hybrid and home working,” she says. That’s really important – a work/life balance.

“We still see our greatest asset as our people, with the expert advice which they give. We are building on our successes. We are looking at new markets for niche areas and are also building our commercial insurance side of the business which is really quite sizeable.”

And looking ahead, Julie says it will continue to seek opportunities and embrace new developments and technologies.

“We have our traditional model which we think is very important, but we need to stay abreast of technology and develop smart ways to weave into our business in order to modernise.” ■

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COVER STORY

Weev: driving fast EV network growth throughout Ireland In the space of a year electric vehicle charging infrastructure business Weev has developed a vast network of sites across Ireland, with thousands more planned in the coming years, backed by up to £50m from Octopus Investments. With these ambitious growth plans to grow right across Ireland, it is supporting both consumers and fleets to ditch the internal combustion engine. Its chief executive Philip Rainey speaks to Ulster Business

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In the first half of the year, it could see the network treble in size with up to 10 megawatts of charging capacity on sites across the island.

In just little over a year the electric vehicle charging infrastructure business has built, installed and managed more than 200 fast charger points, across multiple sites.

Weev is helping lead the way in developing a fast, modern and reliable EV charging network here – making the move away from the internal combustion engine as smooth as possible.

uild it and they will come’ is the mantra with which Weev has embodied when expanding out its rapid electric vehicle charging network across Northern Ireland and beyond.

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Weev has already forged strong relationships with hoteliers, businesses and retail spots throughout Ireland in a bid to extend the reach of EV as far and wide as possible – especially targeting areas with high footfall and close to main arterial routes.

It’s now a business with a workforce of more than 30, with ambitious plans to grow not only its headcount but the business as a

Weev chief executive Philip Rainey

“In all essence, EV charging had gotten a bad, bad reputation and the existing provisions weren’t working.

“So the opportunity arose with the two founders who developed a strong business plan and brought a great team together.”

COVER STORY

required from location partners.”

Philip, who played rugby for both Ulster and Ireland, has a long history working in the renewables sector, most recently within wind energy.

Weev installed its first fast charger back in July 2022 at the Beechlawn Hotel in south Belfast.

“The hotel industry was looking at how it can give a facility to potential guests,” Philip says.

Weev works with a number of firms to deliver its rapid charge points, including many local contractors, and Philip says the procurement chain is also an important part of the journey.

“A lot of our early installations were at

“Our chargers are European chargers with

hospitality destinations,” Philip says. “Our team was then also developing sites at supermarkets and retail destinations, alongside our ultra rapid hub locations.

certificates of performance and compliance,” he says.

“It’s all about the management and upkeep of the chargers and charging network.

“There is definitely an audience and demand.”

A key tender win in the Republic of Ireland has seen Weev now expanding its reach south of the border.

It was appointed to install and operate 25 rapid EV chargers as part of the FASTER Project, which has received EU funding under the INTERREG VA programme.

“This gave us the opportunity to address charging in underserved areas – from Buncrana, down to Dundalk,” Philip says. whole in 2024 and beyond.

“Our plan is to have thousands of charge points in the ground over the next few years,” Philip Rainey says.

And those cross-border connections are also a potential key driver to boost tourism here, ensuring motorists from Northern Ireland and the Republic have confidence in a suitably strong and robust EV network.

Weev has been backed by up to £50m investment from Octopus Investments in order to help drive forward that substantial development plan.

“Since that, we’ve had a number of interested organisations who have come to us and said ‘we see what you’re doing, and can you run something similar for us?’,” Philip says.

Weev was co-founded by Dominic Kearns and Thomas O’Hagan, both of whom have extensive experience in infrastructure, who identified a severe need for an improved EV network here.

Weev is taking the next major step in its growth journey alongside an up to £50m investment backed by Octopus Investments.

“Looking at the statistics, Northern Ireland is very much at the bottom of the table in terms of EV charging provision,” Philip says.

JANUARY 2024

“The chemistry and synergy was fantastic – they bought into the business plan and wanted to be part of this journey. That gives us the opportunity to go to the market and offer fully funded solutions, with no capital outlay

“The technology we use is a complete one stop shop – it mixes the latest technologies in EV charging software with new developments in construction, and it’s all about the interface in the back office.”

And for Philip, it’s about addressing the demands and needs of motorists here in Northen Ireland and beyond, as well as dealing with challenges facing EVs, such as how those without driveways can benefit.

Weev is playing its part in assisting the UK Government’s zero emission vehicle (ZEV) mandate, which has seen a requirement for manufacturers to sell a certain percentage of electric vehicles each year.

“As of next year, the UK Government has mandated that 22% of cars leaving showrooms must be EVs. If not, there are big potential penalties,” Philip says.

And the move to EVs is an increasingly important part of any firm’s environmental, social and governance (ESG) strategy, for example, moving towards electric vehicle fleets for staff or encouraging a move towards the use of public transport in a bid to lower their carbon footprint.

Electric vehicles themselves have been around in various iterations since before the creation of the Model T Ford. >

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COVER STORY

And in the years since their modern popularisation, part of the main failing in attracting users away from the internal combustion engine has been both range anxiety and a lack of infrastructure.

“We want to spread that availability and infrastructure across the whole of Ireland,” Philip says.

Weev is continuing to look forward and working across hospitality, retail, and along major routes in terms of expanding its network of sites, along with liaising with government and councils to examine potential requirements.

Philip says Weev has looked at addressing key failings in the existing network, including whether chargers worked, the speed in which they charge and the prevalence in order to assist in user range anxiety, where drivers worry they’ll run out of juice before getting to a suitable charge point.

“So, our task or challenge has been to look at the routes and try and identify where we may be able to put charging hubs,” he says.

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“The crucial aspect is ensuring there is sufficient capacity to power the chargers, so there is a lot of work to do with NIE Networks to identify what capacity is available.

“We are also trying to work with government, as it has its own plans and strategies.”

Weev will identify a suitable site, enter into a long-term lease with the landowner, and fully fund the development of the charge point installation to get it ready for customers coming to charge.

“We can then go to the owner or tenant with a proposition,” Philip says. “Our gain is the utilisation of charge and their gain is potentially an income stream, either fixed or variable, depending on what the deal is, for potentially a car park spot that wasn’t earning any revenue.”

It’s also very much about the data and connectivity of charging stations across Northern Ireland and beyond – understanding the usage, peak times, and for users, that chargers are available when they say they are.

Looking ahead, Weev has ambitious targets to hit thousands of chargers in the coming years.

“Retail shopping centres and en route is key,” Philip says.

“But we must also cater for those in our city centres who do not have access to their own driveway. We’ve got to take notice what a city or town’s strategic plan is. You want pedestrians, cycling and public transport too – Weev and EV charging will have a role to play.

And he says the future is seeing a raft of renewable technologies coming together.

“There may be sites in which we would have to integrate with solar and battery, which is great. That’s where I get excited from the point of view of addressing the challenges – the technologies all coming together.”

The demand for EVs is going nowhere but up, and Weev remains on course to lead the way with the technology and expertise, backed by investment, to drive charging infrastructure forward right across Ireland. ■

COMMENT

The ‘Big Fish’ at Queen’s Quay in Belfast

How economies of north and south stack up in united Ireland debate Paul Gosling takes a look at the economies of Northern Ireland and the Republic and how that could stack up in the debate around a united Ireland

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he cost of living crisis has hit Northern Ireland very severely, with costs rising much faster than incomes. In fact, incomes last year increased more slowly in Northern Ireland than in any other part of the UK – reflecting our greater dependence on the public sector (where pay has been held down by British government policy) and benefits.

Meanwhile, some costs are higher here than elsewhere. Northern Ireland has the UK’s second highest average grocery costs – behind only the high-income South East of England – presumably as a result of higher logistics costs to ship items here. And housing costs are rising faster in Northern Ireland than in any other

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part of the UK – and in recent years at a rate twice that of the UK average. But, of course, housing is even more expensive in Ireland, especially in Dublin, while being even more costly again in London.

These are headline findings from a paper of mine recently published by ARINS (Analysing and Researching Ireland, North and South), which compared the costs and standards of living between Northern Ireland, Great Britain and the Republic of Ireland.

It is widely understood that both incomes and the cost of living are higher in the Republic than in Northern Ireland. Once both these factors are taken into account, average disposable income in the Republic is slightly

higher than in Northern Ireland, while being higher again in Great Britain.

Averages, of course, hide many individual differences. Pensioner poverty is significantly lower in the Republic of Ireland (at 6.8%) than in the UK (at 15.5%), in part, this is the result of state pensions and welfare benefits being higher in the Republic than in the UK. The Republic is generally a more equal country than the UK, with a more progressive tax system.

Income inequality sits at 13.1% in the Republic, against 18.6% in the UK. The figure for Northern Ireland is slightly lower, at 18%, as a result, in part, of mitigations here of some British welfare reforms, but also because of a lower pay culture and fewer people being on the very highest pay levels. In fact, Northern Ireland has the lowest employee pay average of any UK region.

COMMENT

Crown Alley in the Temple Bar area of Dublin

A recent opinion poll found that expectations of the impact on personal finances will be a key factor in any referendum on Irish unity, should one take place at some point in the future. None of this information will answer the question of whether an individual would be better or worse off as a result of constitutional change. Any voters anyway may prioritise other factors – not just identity, but also, and crucially, perceptions around the quality of public services.

Average life expectancy is longer in the Republic than in Northern Ireland.

Health would be an important consideration in this, not least with the NHS in Northern Ireland in a state of severe crisis. The Republic’s health service is also facing serious challenges, but waiting lists are shorter and a series of reforms is under way that have led to more than half of the population being entitled to free GP consultations, while one in three has a medical card that provides comprehensive free healthcare.

It is the similarities between Great Britain, the Republic and Northern Ireland that offer what is perhaps the most concerning policy challenge. All the jurisdictions are weighted heavily in favour of their capital cities – this is true of Dublin, London and Belfast. And this is contrary to the practice, policy and experience of much of mainland Europe.

JANUARY 2024

Education and skills would be another core policy consideration. Although there is significant support in Northern Ireland for academic selection, the evidence is that the Republic produces a significantly better qualified workforce and this is an important factor in its much higher levels of productivity, which in turn results in higher national income per person.

The north west of the island of Ireland is much

poorer than the rest of the island, in much the same way that the north east of England is the weakest region of Great Britain. There is a need for policy makers in Great Britain, Northern Ireland and Ireland to improve the regional distribution of wealth, income and influence.

None of this data predicts what will happen in the future. The Republic has a smaller economy that is dynamic, but more vulnerable to external shocks. On the other hand, the UK’s economic performance has been damaged first by austerity – which negatively impacted education and skills outcomes, in particular – and subsequently

by Brexit.

Advocates of Brexit argue that it will produce medium and long term benefits through the UK itself becoming more dynamic and successful. I doubt if that is true, but time will tell. ■

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COMMERCIAL PROPERTY

After more than 30 years at Clarence House, Lambert Smith Hampton has moved its Belfast team to new grade A offices at The Kelvin. Neil McShane, managing director, looks at the agency’s plans for the future

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n any given week, Northern Ireland’s largest commercial property consultancy Lambert Smith Hampton (LSH) facilitates the relocation of blue-chip businesses and globally recognised brands to new offices, warehouses or retail units.

Last month, however, LSH found itself in the clients’ shoes, when the agency announced that its Belfast headquarters would be relocating to new offices in the city centre.

Anyone in the property market in Northern Ireland will associate LSH with Clarence House, the office it occupied on May Street for 37 years under the leadership of Keith Shiells, now LSH’s chairman in Ireland and Douglas Wheeler, who remains a consultant to the company.

However, with an eye on the future, the management team felt the time was right for a change and in November, LSH relocated its 80-strong team to a new 7,000 sq ft grade A office space in The Kelvin building.

The Kelvin, which was recently refurbished, is a modern, purpose-built office space located on College Square East. The £1m investment has enabled LSH to provide open plan offices to include collaborative meeting spaces and multiple private meeting rooms all benefitting from state-of-the-art technology.

Neil McShane, managing director of LSH in Ireland said: “As our business continues to grow and evolve, we felt it was time to move

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Lambert Smith Hampton moves to The Kelvin to a building that better supports the way our teams now work. Our move to The Kelvin has allowed us to design our office space to provide a collaborative, innovative, and inspiring space for our team as well as bring all of our staff onto one floor.

“We’re confident that the move to the new offices will support our wider plans for the future, enabling us to take advantage of new opportunities and provide a great platform for the team to continue to provide excellent service to our clients.”

LSH is Northern Ireland’s largest commercial estate agency and consultancy, with a total commercial property management portfolio of 15.5 million square feet in all sectors, spread across the UK and managed from Belfast.

It collects annual rent and service charges exceeding £200m and has more than 2,500 leases under management.

With a team of 80 staff working across all facets of the property market and some of the foremost property experts in Northern Ireland, LSH provides unrivalled depth and breadth of advice to its clients.

Neil says that no other agency in Northern Ireland carries out the same range of work as LSH’s Belfast office.

“At Lambert Smith Hampton we have expertise across all property disciplines and this year we have seen our team continue to grow, with six new hires and several team members achieving promotions,” Neil says.

COMMERCIAL PROPERTY

Lambert Smith Hampton senior management team pictured at their new office in The Kelvin. Back row: Darren Fitzsimons, Gary Nesbitt, Phillip Smyth, Niki Alderdice, Jonathan Martin, Neil Workman, Douglas Wheeler. Front row: Criona Collins, Neil McShane, Keith Shiells

£17m, and the sale of Imperial House in Belfast for £7.1m.

LSH’s agency team, led by Philip Smyth, has been notably active, acting for a range of local and international clients on acquisitions, disposals and lettings in every sector of the commercial property market. Notable deals include the acquisition of the former Irish News Building on Donegall Street on behalf of Ulster University for over £4m and the acquisition of 30,000 sq ft of car showroom space on Boucher Road on behalf of global electric car brand Tesla.

The valuations team, led by Darren Fitzsimons has provided formal valuations for over £750m worth of property over the past 12 months for clients including AIB, Bank of Ireland, Barclays, Fiduciam and Ortus Secured Finance.

LSH manages 41 shopping centres and retail parks across the UK comprising 9.7 million sq ft such as Victoria Square, Abbey Centre, Lesley Forestside, Tower Centre, Foyleside, Buttercrane and Ards Shopping Centre on behalf of blue-chip clients including NewRiver REIT, CBRE Investment Management, Commerz Real North Limited, Comer Group and Mussenden Properties.

brought in new arrivals at Victoria Square including Tessuti, Sculpted By Aimee, Rituals and The White Company, as well as renewing other well-known brands including Nespresso, Claire’s Accessories, Fossil and Costa Coffee.

This year the property management team, led by Gary Nesbitt, retained Ards shopping centre, was awarded management of The Ashley Centre in Epsom, and, significantly, retained the management contracts for Lesley Forestside, Foyleside and Victoria Square, NI’s top three shopping centre schemes.

LSH’s capital markets division, led by Jonathan Martin has been responsible for some of the most notable sales of commercial property in Northern Ireland and GB in the past few years.

Highlights include the sale of Bedford House in Belfast for £20.4m, the sale of the Belfry Shopping Centre in Redhill for £17.75m, sale of Ards Shopping Centre in Newtownards for £15.75m, sale of Central Park, Mallusk for

The retail team, led by Criona Collins, has

JANUARY 2024

It enjoyed similar success at other centres with new deals, renewals and relocations at the Abbeycentre, Buttercrane and Tower Centre.

The building consultancy team, which is managed by Niki Alderdice and includes four chartered building surveyors, NEC project managers and a BREEAM Assessor has provided technical advice to clients and colleagues across survey and project work instructions. The team has also been active in bespoke instructions, for example undertaking condition surveys to the Shannon Heritage properties, which consisted of four castles, including Bunratty Castle and Folk Park.

“We have seen considerable commercial growth across all property divisions,” Neil says.

“As we head into a new year, we believe the office move has provided an added boost to the team as they strive to continue providing the highest levels of service to our clients.” ■

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NEWS

MaryFrances McCrystal, Rural Housing Association, Terri McCullagh from Danske Bank and Stephen Fisher, Rural Housing Association

Rural Housing Association investing in 300 new homes

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significantly reduce energy consumption, providing our tenants with healthier and more cost-effective homes.”

Rural Housing Association (RHA) was set up in 1992 to provide affordable accommodation for people in rural areas, with the aim of maintaining and regenerate communities.

MaryFrances McCrystal, finance director at the association, said: “We have banked with Danske Bank for a number of years and this new long-term partnership will allow us to invest in new homes and maintain existing properties to meet the ongoing demand for affordable housing in the rural communities we serve.

housing association for rural areas will invest in around 300 new homes around Northern Ireland after agreeing a £25m loan with Danske Bank.

The new structured loan facility will be used to fund investment, including the development of around 300 new properties over seven years.

Danske’s funding is expected to convert to a sustainability-linked loan once environmental, social and governance (ESG) KPIs have been agreed.

Stephen Fisher, head of the association, said: “This is an exciting time for rural housing. We are dedicated to delivering great homes for our tenants by prioritising sustainability without compromising on quality or aesthetics.

“We are committed to making a positive impact on the environment by designing and building homes that not only meet the highest standards of comfort and style but also

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“Danske has a great understanding of the social housing sector and RHA’s particular areas of focus so we believe it is a relationship that will help us support our tenants for many years to come.”

Terri McCullagh, corporate banking manager at Danske Bank, said: “We are pleased to have agreed this new facility with our longstanding customer RHA and excited to support the association with its plans to continue building much needed new homes in rural areas.

“Their focus on energy efficient and sustainable homes aligns with the bank’s own sustainability goals.

“Danske Bank has been a lead provider of finance to the social housing sector in Northern Ireland for many years and we want to continue to help the sector to thrive and meet the needs of people across Northern Ireland.”

RHA’s design incorporates energy efficiency measures and renewable energy sources, such as solar or geothermal system, to offset each building’s energy needs.

A recent scheme of nine homes in Lisnaskea included air source heat pumps (ASHP) which work by absorbing heat from outdoor air, increasing its temperature and distributing it through the building through underfloor heating.

An ASHP system is also included in 15 units to be completed in Sion Mills in January.

The association recently completed nine new homes and an apartment block in Randalstown using a communal geothermal ground source heat pump system.

It is also building 10 new homes on Rathlin Island to Passive House Classic Standards, a set of building performance criteria focused on achieving exceptional energy efficiency. ■

BUSINESS SHOWCASE WITH ULSTER BANK

CDE Global: the growth of a Co Tyrone manufacturing giant Tony Convery started his firm CDE Global alongside his wife Rosemary in 1992, and since then it’s gone on to grow into one of Northern Ireland’s leading export stories, and is a business which has continued to expand alongside Ulster Bank

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o Tyrone manufacturer CDE Global has witnessed a doubling of its business in the space of just four

Tony Convery

years.

And in that time, the Cookstownheadquartered firm – which produces a wide range of wet processing and recycling equipment – has expanded and grown its international reach, as well as heading to turnover of around £140m.

“The past six months has been a different story to the previous year and people are taking longer to make decisions,” Tony Convery, chairman of CDE Global, said.

“We will still turn in a good year this year. Our period from getting an order to having it in our turnover takes about a year.

“There are a lot of positive signs at the minute – there are a lot of enquiries and front-end stuff before it turns into an order. So there are a lot of positives.

“A few big projects could make a very big difference as to how next year looks. We have had a lot of growth in the last three or four years.”

But he said it would remain hard to call whether the firm could see similar levels of growth in the year ahead.

CDE Global has grown into a considerable player and one of Northern Ireland’s fastestgrowing and largest engineering firms.

It’s been at the forefront of the materials

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processing industry for 30 years, designing and engineering advanced wet processing solutions for the waste recycling and natural materials processing sectors.

“This year turnover would be about £140m and staff would be around 600 worldwide,”

Tony says. Around 250 of those staff are based at its Cookstown headquarters and a further 200 in Belfast.

The company, which aims to enable firms to transform waste streams into valuable resources, has operations in Texas, Brazil,

Damien Long

BUSINESS SHOWCASE WITH ULSTER BANK

day-to-day business operations and for longer term planning and investment.

To put it mildly, the last few years have been turbulent so some firms may be forgiven for approaching the new year with caution. They know just how quickly situations can change and how important it is to keep some assets in reserve, so they are in a better position to navigate the next period of crisis. Those with a little more confidence however could benefit from reviewing their financial strategies and forecast inflows and outgoings and updating their approach.

Taking time to consider options could unlock more potential

By Damien Long, relationship director, corporate banking, Ulster Bank

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lue Monday is a relatively new idea adding to January’s already bad PR image. Dubbed the most depressing day of the year, it is supposed to represent the culmination of poor weather conditions, high levels of debt, low levels of motivation, and the overwhelming feeling of a need to take action.

If these factors only impacted our mood and outlook for a single day, the concept wouldn’t carry the same weight but when cash pressures intensify, ‘Blue Monday’ risks tipping into ‘Red January’ and that’s when it really is time to look at your financial strategy.

Typically a time for reset, January represents a good time for business owners to take stock and plan for the year ahead. We all know that businesses have faced significant challenges in managing working capital since the pandemic but with glints of optimism on the horizon brought about by inflation beginning to fall, it is perhaps time for businesses to reassess how they are managing their cash both for

Australia, Dubai and Austria. It has carried out over 2,000 projects for sectors including aggregates, mining and construction.

“We have more than doubled since 2019,” Tony says. “[That’s] despite coping with everything else. We have a good product and we are fairly focused on recycling, which seems to be the thing which people want to invest in at the moment. That’s where we want to be.

“You are focused on turning waste product into useful materials – if you knock down

JANUARY 2024

Given the geopolitical upheavals, certain risks have risen sharply, and we are seeing risks in what were once considered secure supply chains. Managing this and building resilience into your supply chain is essential and will ultimately afford you greater protection if these risks continue to escalate or new challenges unfold. Consider researching new suppliers or assessing customer viability more prudently so you can continue to operate smoothly. Anyone can be vulnerable to rising prices so it’s useful to map out how this might impact your operations.

Inefficiencies are perhaps the biggest drain on business resources and while you may not always see it immediately, they can also adversely affect your bottom line. Any cash management strategy should look to irradicate inefficiencies and find ways to optimise current practices.

The new year is a great opportunity to look into new technologies and explore how they could benefit your business, boost your competitive advantage and ultimately use working capital more effectively.

Introducing new technologies such as AI or other forms of automation could prove to be transformational and significantly improve your systems, processes and customer experiences. Of course there will be initial adoption costs and it won’t be a perfect solution for everyone but it’s certainly worth exploring.

Before activity ramps up again and we move into busier periods of the year, take some time to consider your options. It could be the key to unlocking even more potential, unlocking revenue and optimising growth in 2024.

a house you can make another with the materials.”

CDE Global sells its products across the globe.

Tony says the Middle East, Australia and the US saw strong performances in the last year.

“Recycling is the buzzword and there were lots of grants post-Covid to invest in green technologies,” Tony says. “That does help drive it… but it’s the same customer set in the same market.”

In terms of CDE Global’s relationship with

Ulster Bank, Tony says he’s had his own personal account since 1977, when he was studying at Queen’s University in Belfast.

“All of our main banking [is with Ulster Bank]… with property which we have bought, they have always been involved in that,” he says.

Looking ahead into 2024, Tony says there may be some levelling off but with a potential reduction in interest rates going forward, along with inflation, there may be a pick up towards the end of the year. ■

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BUSINESS BANKING

Danske Bank: supporting Northern Ireland’s small businesses Danske Bank is continuing to work with some of Northern Ireland’s leading small businesses, with specialised business advisers based throughout the region and developing new digital solutions 28

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t’s often said that small businesses are the lifeblood of the Northern Ireland economy.

Certainly, the majority of businesses trading in this part of the world across most key sectors fall into the small business category.

Department for the Economy figures from earlier this year showed four in ten businesses in Northern Ireland have turnover of less than £100,000 and just 12% had turnover of more than £1m.

Those numbers are a big part of the reason Danske Bank prioritises supporting small businesses in what is a fairly unique proposition to the market.

BUSINESS BANKING Ryan Mawhinney, pictured centre, with some of the Danske Small Business team including Dean Armstrong, Catherine Robinson, Robert Lynn, Janine McErlane, Richard McConkey and Andrew Adair

supporting business with their immediate needs, and we provided over £600m of financial support in those few years alone.

Now we are actively looking to attract new customers, as demonstrated by our recent switching incentive for small businesses.

“We have an extensive, strong proposition for small businesses locally – we’re taking a twopronged approach where we are developing our technology and providing digital solutions, but we also have local relationship managers on the ground. This local relationship approach is one which many other providers have moved away from in recent years,” Ryan says.

“Customers have really embraced the digital offering, but we hear they still want to be able to lift the phone and talk to someone who knows them and their business when they have a more complex need or challenge.”

Through Danske’s advisers and small business hub, customers have access to expertise in not only lending, but asset finance, trade finance, invoice finance and foreign exchange, with all these specialist teams locally based.

The Danske small business proposition includes 18 business advisers based in local communities throughout Northern Ireland, alongside a small business Hub who together act as a first point of contact for business customers with borrowing requirements.

All customers also have full access to Danske’s award-winning customer contact centre and the branch network for their day to day needs.

Ryan Mawhinney, head of small business at Danske Bank, says this area has long been a major focus for the bank.

“We’ve had a clear strategy for our small business customers for a number of years now. During Covid, our role really turned to

JANUARY 2024

“We are seeing businesses active in the market,” Ryan says. “There is a constant cycle where businesses need to replace equipment and vehicles and so on. There was an increase in cash holdings post pandemic, but now we’re seeing customers using that cash combined with lending to invest and grow.

“Asset finance has been really busy as businesses have made capital investments this year and we have seen a demand for sustainable upgrades, such as solar panels, which is encouraging.”

Sustainability is an area Danske Bank has invested in significantly in recent years, developing the Climate Action Programme (CAP) with Business in the Community NI to help businesses understand and reduce their climate impacts. Just over 130 Danske customers of all sizes have taken part in the programme to date, and the bank is now looking at ways to make this more accessible to small businesses in 2024.

“All of our advisers have been through accredited carbon literacy training themselves. They are bringing that expertise to their customers. We find lots of small businesses do want to do something in terms of sustainability but they’re maybe not exactly sure where to start,” Ryan says.

“We can now show them great examples of customers who have been able to do business with much larger, international players having gone through our programme as they can demonstrate their sustainability credentials to those larger companies.”

In addition to its core services, Danske is providing support to small business owners in other ways too, for example partnering with local Enterprise Agencies to deliver HR, marketing, cyber security and sustainability advice to their tenants. These visits also involve Danske’s personal banking team, an acknowledgement that for owner-managed businesses personal banking needs are very closely aligned to business banking.

Ryan says that building relationships and communicating with customers remains at the heart of Danske’s approach to supporting small businesses.

“A lot of our new to bank business comes from referrals from our existing customers because of the relationships we have with them.

“We also see a lot of value in spending time at local events. As part of our partnership with Chartered Accountants Ulster Society, we’ve been supporting their Entrepreneurial Mindset conferences. They, and other similar events, are a great opportunity to interact with communities and meet local entrepreneurs, small businesses and intermediaries like solicitors and accountants,” he says. ■

More information about Danske Bank’s small business services can be found at danskebank. co.uk/smallbusiness or by calling the team on 0345 266 6555.

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DAVID MEADE

David Meade: Aiming for a record-breaking year

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eing on stage and receiving a round of applause are nothing new to Northern Irish keynote speaker and BBC broadcaster David Meade, who has carved out a lucrative career hosting events for corporates across the world.

Having graced UK TV screens with his thought provoking shows and daredevil antics for over 10 years, David has since diversified into keynote speaking and delivers live and virtual events for some of the world’s biggest brands, entertaining teams and travelling the globe in the process.

Following a busy 2023 that ended with speaking engagements in New York City and the Caribbean in December, David is reflecting on an award-winning year and looking ahead to an even more successful 2024.

In November, the Co Down broadcaster was awarded the Professional Speaking Award of Excellence (PSAE), a highly coveted UK speaking and hosting accolade awarded by the Professional Speaking Association.

The PSAE is the association’s highest award for those on the speaking circuit and is the only available accolade in the world which recognizes those at the height of their careers in the sector without nominations.

Instead, it is voted for by previous winners in a secret voting process, meaning David has earned the respect and recognition of his

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predecessors across the industry.

Discussing the award, the broadcaster and presenter said it is a standout moment for his career.

“I have had the opportunity to work for some of the world’s largest and most successful organisations, travelling the globe and delivering live events on stage to thousands of people,” he said.

“No matter the company or organisation, the goal for every session is to deliver a thoughtprovoking event that really makes the audience think. To catch the attention of the Professional Speaking Association and receive the PSAE for my work is one of the greatest honours of my career.”

Yet, despite travelling the world and presenting on stage for blue-chip clients such as Apple,

Mercedes Benz and PwC, David has continued to focus on developing his sister company Lightbulb Teams, which enables his corporate clients to change people’s lives. His audiences build prosthetic hands and water filters that are donated in their name to developing countries across the world.

Lightbulb Teams was founded in 2019 alongside David’s ex-wife Elaine to allow companies to empower their teams to truly make a difference. Though their marriage ended in early 2020, David and Elaine still lead Lightbulb teams, achieving an incredible milestone of over 70,000 prosthetic hand donations to patients across the globe. “While we’re no longer together as a couple, we share the vision for what Lightbulb can do in the world. It’s been a powerful way to create a legacy and an impact, and I’m excited to see how many lives can be improved in 2024 and beyond.”

The prosthetic hands are developed through the Give a Hand programme, in which companies and their employees come together for a team building day, hosted by David and his team, to construct prosthetic hands from scratch.

Over the years, David and his growing team have travelled from their base in Holywood, Co Down to Uganda, Cambodia, India, and Vietnam to distribute the hands, and the team have big ambitions to make a positive, lifechanging difference to many more people. ■

Outlook 2024 We hear what’s in store for the economy and business sectors in the year ahead

OUTLOOK 2024

Ongoing investment needed to deliver on positive outlook for tourism John McGrillen

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where they were at this time last year and tour operators are reporting very strong interest in the island of Ireland for 2024.

Despite the recent challenges, I am hugely encouraged by the performance of Northern Ireland’s tourism businesses over the past 12 months and how they have adapted, innovated, recovered and begun to grow again.

With its lower cost base and an ever-increasing number of high-quality tourism attractions and activities, Northern Ireland is increasingly on the radar of international tour operators seeking to bring customers to Ireland. We were delighted to host Abbey Group, Ireland’s biggest international tourism operator, earlier this month when they brought 220 of their sales team to Northern Ireland to see what the region has to offer their international customers.

n such a volatile world it is no easy thing to give an outlook for the year ahead in the tourism industry. Over the past five years we have seen that external global factors can put paid to the best laid plans.

We were delighted at figures showing a record number of visitors from the Republic coming north in 2022, passing a million visits for the first time. However, with Ryanair and other airlines showing record profits over the summer period, demand for overseas travel is clearly back to where it was prior to Covid.

Despite the increased competition, the most recent visitor statistics remains positive.

Domestic tourism appears to remain in robust health and the number of visitors from international markets, particularly the US, have recovered well.

Hotel room occupancy for January-October 2023 has exceeded pre-pandemic levels, driven largely by the return of international tour groups and conference business. Rural areas, which are more dependent on domestic visitors have however been impacted by the poor summer weather as have outdoor activity providers. Indoor attractions on the other hand have had a more positive year with visitor numbers close to 2019 levels.

The outlook for 2024 remains very positive.

Hotel bookings for next year are ahead of

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Of the 150 international tourism operators who attended our Meet the Buyer event in March, more than 60% said they’ll do more business in Northern Ireland in 2024.

As we enter 2024, I welcome the publication of a draft Tourism Strategy for Northern Ireland by the Department for the Economy.

The strategy seeks to establish Northern Ireland as a year-round, world class destination renowned for its authentic experiences, landscape, heritage and culture and which benefits communities, the economy and the environment.

The new strategy sets a target of growing the value of tourism by 50-75% over the next decade. The goal is to give visitors reasons to stay longer and spend more and to spread tourism’s value beyond the hotspots of Belfast and the Causeway Coastal Route, where some attractions are reaching capacity at peak times.

To achieve these aims, we need to see

continued investment in all aspects of our tourism product – hotels and other accommodation, attractions and experiences, the evening economy and connectivity.

We need to further invest in people, which means making tourism and hospitality a more attractive career option and providing development opportunities to stay in the sector.

Clearly the private sector shares our optimism.

We have seen two new major hotels open their doors in recent months, the Ebrington Hotel in Derry and Room2 in Belfast city centre with new developments under construction on the north coast, including Dunluce Lodge, in advance of the Open returning in 2025. This year has also seen a number of high-profile acquisitions along with planning approvals for new hotels, five of which were granted by Belfast City Council in the past few weeks.

The recent announcement by VINCI Airports that it is to invest £100m over the next five years in upgrading Belfast International Airport is very welcome news. Connectivity with our international markets will be critical to achieving the growth ambitions set out in the draft strategy. Our ports and airports are also the first and last impressions that people have of this place when they visit so a high quality and convenient service in our airports is of vital importance in delivering the warm welcome of our ‘Embrace a Giant Spirit’ brand promise.

Next year we hope to see further progress on the innovative new tourism City and Growth Deal projects, which will build upon the current portfolio of major attractions and ensure a competitive and sustainable tourism sector in the years ahead.

OUTLOOK 2024

A strong tourism industry is essential for positioning the region internationally as an attractive place to visit, making our visitors feel welcome and at the same time helping to improve the lives of all our of citizens. It accounts for one in 12 jobs in Northern Ireland, is our most geographically spread industry, and provides opportunities for people from all backgrounds to gain employment and to quickly to move up the career ladder.

possible and with our colleagues in Tourism Ireland continue to promote Northern Ireland as a value for money, must see destination in 2024 and beyond. ■ John McGrillen is chief executive Tourism NI

Our Make it Here campaign over the past year sought to address some of the misconceptions about working in tourism and hospitality, and we’ve been pleased with the high level of engagement that the campaign has had.

We will continue to champion tourism and hospitality jobs and careers in 2024.

We will also provide employers with an innovative new e-learning platform which they can use to develop the skills of their employees at a low cost and at a time which suits each employee.

Despite the optimism challenges do lie ahead. The cost of living crisis will mean people taking fewer short breaks and high inflation is making both the cost of travel, and the cost of doing business more expensive.

The potential impact of geopolitical uncertainty and its impact on the world economy is also hard to gauge. These are areas outside our control, what we can do though is to continue to support our tourism businesses where

JANUARY 2024

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OUTLOOK 2024

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OUTLOOK 2024

This year is another which will put our business resilience to the test Janette Burns

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s we head into another new year, what can businesses in Northern Ireland expect to see emerging?

If I had a crystal ball, this article would be much easier to write. But one thing is very certain, 2024 will see more in the way of change.

With high inflation continuing into its third year and the Bank of England saying that interest rates won’t fall any time soon, many of the current pressures will continue into 2024. Add into the mix corporate sustainability reporting for larger companies, joined up regulation in the area of crypto-assets, and concerns about the need to control artificial intelligence – 2024 looks like another challenging year for many businesses. And that’s before the next stages of the Windsor Framework come into operation, in addition to the various phases of the UK Government’s Border Target Operating Model which commence from January 2024.

The autumn statement was a wasted opportunity by the Government to provide struggling businesses in Northern Ireland with tax incentives and supports that would allow the SME sector in particular to grow and thrive.

Although full expensing, which allows a 100% tax deduction for companies investing in new plant and machinery, was made permanent, this is only of benefit to large companies who are spending more than £1m on these assets.

Northern Ireland’s hospitality sector could have benefited from a reduction in the 20% VAT rate.

As the region also grapples with worker

JANUARY 2024

shortages and skills gaps, the tax system could have been harnessed to encourage businesses to invest in training employees in new skills.

This could be achieved through a form of ‘super tax deduction’, linked to areas where there are skills shortages, which would allow businesses to reorientate employees, helping to address capacity issues in key sectors.

A full review of how Northern Ireland’s share of Apprenticeship Levy funding is currently being utilised should also be carried out next year. The aim of which should be to identify gaps in skills training where apprenticeship programmes could be developed so that funding could be directed more effectively.

The high cost of childcare also needs to be urgently addressed in 2024. Although not a direct cost of businesses, difficulties faced by parents in accessing and funding places in childcare settings is impacting labour market participation (and therefore lowering Exchequer receipts) and exacerbating the skills shortages across NI. In a recent survey of Chartered Accountants Ireland members in September 2023, an overwhelming 75% of those surveyed cited cost as being the biggest obstacle to securing appropriate childcare in Northern Ireland.

For many, the financial burden of childcare is staggering, with two-thirds of respondents currently paying up to £1,000 each month per child and an additional one-third paying between £1,000 and £2,000 per month, per child. Furthermore, over half of those surveyed had either reduced their working hours or requested to work flexible hours because of childcare pressures.

The issue has become so critical that a Westminster committee intends to launch an inquiry into childcare costs if the NI Executive is not restored by the New Year. It’s time childcare provision is viewed centrally as part of the critical infrastructure necessary for a functioning economy.

Making Tax Digital is also looming on the horizon. This initially commences from April 2026 for self-employed individuals, partnerships, and landlords with turnover more than £50,000 (the £30,000-£50,000 turnover population are to be brought into MTD from April 2027).

MTD will require quarterly reporting of certain business information to HMRC, the keeping of digital records, and the use of MTD compatible software, effectively aiming to bring tax reporting closer to real-time events. And the Government also hasn’t ruled out extending this to the turnover less than £30,000 population. MTD will be a significant change for affected businesses who are traditionally used to completing one set of accounts annually and filing one tax return.

Its impact should not be underestimated or ignored.

We already know that Northern Ireland’s business community is highly adaptable and resilient. This year is shaping up to be another year when this will be put to the test.

Northern Ireland needs its Government back in business to help rise to these challenges and put us on the path to growth and success. ■ Janette Burns is chair of Chartered Accountants Ireland’s Northern Ireland tax committee

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OUTLOOK 2024

There is little doubt the NI economy is poised for success Johnny Hanna

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he new year provides an opportunity to take stock and to look ahead to the coming 12 months.

For the Northern Ireland economy, 2023 will be remembered as a year when the private sector stood strong in the face of a raft of headwinds.

To get a feeling for its potential in 2024, it is first worth taking a look at how prevalent those headwinds are likely to be as we move into the new year.

The most well documented of those was the inflationary environment, one which saw the consumer price index (CPI) hit double digits, which in turn saw the Bank of England raise interest rates to a level not seen since 2008. By the time we left 2023, much of that inflationary pressure had eased in line with a fall in headline energy prices and other key costs, although there is still some way to go before CPI is back at the central bank’s target of 2%.

While there are a myriad of factors which could stoke inflation once again this year – including the well-documented unstable geopolitical environment – there is little doubt that a more benign inflationary environment will remove a major barrier to growth for the immediate future and, perhaps, encourage investment.

Another factor which has acted as a drag on economic activity is the lack of a functioning Executive at Stormont.

The construction sector has borne the brunt of the vacuum of political leadership with a

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pipeline of infrastructure projects stuck in the system awaiting final signoff. But no sectors are immune from the lack of decision making at a government level which has left many areas of economic development – whether skills, export, or innovation – stuck in third gear. It is a particular deterrent to overseas or other outside investment, with the perception of instability likely to see funds head elsewhere.

Stormont remains in stasis but there is definitely more effort being made by all stakeholders within the Northern Ireland political arena to reach a resolution, one which would help unleash the local economy’s potential.

With luck, that will come in the year ahead, one where the opportunities for Northern Ireland from an economic standpoint outweigh the potential challenges.

One of the reasons 2023 will be remembered is that it marked 25 years since the signing of the Good Friday Agreement, itself a remarkable achievement and one which remains so all these years later. The outpouring of goodwill which accompanied the celebrations was obvious to see throughout the year, particularly with the visit of President Joe Biden and his subsequent appointment of Senator Joe Kennedy as US Special Envoy to Northern Ireland for Economic Affairs.

That was further enhanced with The Northern Ireland Investment Summit and the subsequent US business delegation which saw senior leaders from a range of US multinationals visit the province on a four-day trip.

That close relationship between Northern Ireland and the US has already borne fruit and will hopefully continue to do so in 2024, not just by unearthing buyers for our goods and services but by encouraging investment in Northern Ireland.

The likes of Citi, Microsoft and Aflac are just some of a wide range of blue-chip US corporate names which have invested in Northern Ireland in recent years and, with luck, more will follow suit in the year ahead.

While a talented workforce, the partnership of world-class universities and a low cost of living have always been a draw, the interest of US and other investors in Northern Ireland has been piqued further by the Windsor Framework, something we at KPMG believe will be game changer for Northern Ireland this year and in years to come.

Under the proposals put forward to replace the Northern Ireland Protocol arrangement, the province will have dual market access to both the UK and European Union markets.

Such access is truly unique to Northern Ireland and would allow our indigenous companies and inward investors to service two lucrative marketplaces.

Demand to take advantage of this unique selling point is borne out by news reports at the time of President Biden’s visit which have suggested billions of dollars of US investment is ready to pour into Northern Ireland if the Windsor Framework leads to political stability here.

OUTLOOK 2024

Adding to the positivity for Northern Ireland in the years ahead is the potential to reduce the main rate of corporation tax. The UK government sanctioned the devolution of corporation tax-setting powers to the Northern Ireland Executive in 2015, powers which if implemented would allow it to reduce the rate to 12.5% (15% for very large businesses), on a par with the Republic of Ireland and well below the UK rate of 25%.

Dual market access combined with a low rate of corporation tax makes an extremely compelling environment for business, both indigenous and overseas. Combine that with a series of growth and city deals unlocking at least £1bn investment, a dynamic and collaborative education system which works with industry to produce the right type of skills and one of the highest standards of living in the world and the offer is outstanding.

For the more immediate future, the headwinds discussed earlier will play a big part in charting the economy’s path in the coming months. However, given the right political conditions (a functioning Executive), given strong leadership and given a continuation of the tenacity and innovation shown by the business community, there is little doubt the Northern Ireland economy is poised for success.

Johnny Hanna is partner in charge of KPMG in Northern Ireland

JANUARY 2024

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OUTLOOK 2024

Opportunities and potential ahead for property market in 2024 Brian Lavery

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eflecting on the past year, the commercial property market in Northern Ireland has been a mixed bag of optimism and challenges.

The promise brought by the Windsor Framework, offering a unique gateway to both UK and European markets, sparked hope for a resurgence in the region.

However, delving into the intricate dynamics of stability, planning, and finance, it becomes evident that political impetus is the linchpin for unlocking the true potential of the commercial property market – something our region has severely lacked of late.

As 2023 closes, it’s imperative to examine the trajectory of various sectors and anticipate what lies ahead in 2024.

•ESG considerations are playing an increasing role in decision-making when it comes to investment in workspaces with businesses actively seeking offices with low carbon operations and amenities.

Hotels sector remains comfortable •Last year saw the largest ever hotel transaction in Belfast (£40m sale of Hilton Hotel), occupancy rates exceeding prepandemic levels, and record highs on average daily rates so the hotel sector enters 2024 in a strong position.

•Five new hotels have been granted planning permission in the last few weeks alone which will result in an additional 551 city centre beds.

This will undoubtedly prove very popular with the increasing number of NI-bound tourists.

sum exceeding its original asking price, proving retail space is in high demand. We can expect positive activity to continue into 2024.

•A ‘swap shop’ trend has been evident as businesses relocate to balance space requirements with cost. We expect this moving and shaking may continue in 2024 as retailers fight for footfall.

•Retail warehousing and F&B are poised for a fruitful start to the year, driven by demand from discount retailers and ongoing interest for drive-thru space.

Industrial and logistics •Interest in industrial and logistics properties remains strong, especially from the food and manufacturing industry, possibly driven by NI’s unique multi-market access. A dearth of space on the required scale poses a challenge now and moving forward.

The office resurgence •90% of companies are committed to reestablishing their physical presence by the end of 2024 so we expect an increase in demand for best-in-class grade A workspaces.

•CBRE completed the letting of Room2, one of Europe’s greenest hotels, at the end of 2023 to huge fanfare. We anticipate a further rise in demand for ‘hometels’ and ‘green stays,’ and additional boutique-scale hotels with unique amenities such as art galleries and wellness centres to enter the market.

•Right-sizing strategies will come to the forefront in 2024. Approximately 60% of organisations will re-evaluate their portfolios, some opting to downsize in space, others investing in facilities and technology.

•Exciting deals already in the legal phase, expected to be announced in 2024, promise continued prosperity for the hotel sector.

•The debate on ESG and the Minimum Energy Efficiency Standard could gain prominence in 2024.

Retail to remain strong •Retail accounted for over 70% of all commercial investment property activity in 2023, with exciting opportunities for The Mall in Armagh, Ballymena’s Braidwater Retail Park, and Laganbank Retail Park which sold for a

Investment stifled by uncertainty •Total investment spend for 2023 is expected to total well in excess of £300m, a similar level to 2022. Whilst investment figures are similar to 2022, we still approach 2024 in a transitional phase with cyclical, secular, and

•Demand for flexible leasing will also prevail, with businesses often seeking properties offering shorter lease terms. This will undoubtedly help with the continued success of serviced offices.

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•Small business parks continue to operate at or near full occupancy across the province, hindering expansion opportunities and entry for SMEs.

OUTLOOK 2024

geopolitical factors impacting investment sentiment and value.

•Lack of an Executive remains a considerable challenge. Approximately 75% of 2023 investment spend came from high-net-worth domestic investors, underscoring the need for political stability to leverage NI’s unique global position to secure further international investment.

PBSA accelerating at pace •With student numbers at an all-time high, demand for purpose-built student accommodation has been strong. The market has reacted accordingly with multiple student dwellings already under construction in 2023 or approved for development.

•Registrations for both Queen’s University and Ulster University continue to outpace the supply of beds so increased activity in the PBSA market is expected in 2024.

Living spaces: a growing priority •Belfast is eventually going to witness its first Build to Rent space in the form of the 778 unit Loft Lines, Titanic Quarter currently under construction.

•We hope to see further BTR schemes approved for planning and starting on site in 2024.

•Senior living accommodation, often overlooked, is climbing the commercial property priority list for 2024, fuelled by an ageing population.

As we stand on the cusp of 2024, it is evident the commercial property market within Northern Ireland has plenty of opportunities and an abundance of potential to unlock – the keys to which may well be found in the year ahead. ■ Brian Lavery is managing director, CBRE Northern Ireland

JANUARY 2024

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OUTLOOK 2024

Funding package offers respite… but whether it’s enough is another matter Richard Gillan

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OUTLOOK 2024

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ince taking over as CBI Northern Ireland chairman, I’ve worked with businesses large and small employing thousands of people across Northern Ireland.

Leadership in a challenging economic environment can be tough. Inflation remains high and energy prices (despite recent stability) are expected to rise again in 2024.

Northern Ireland’s business leaders do an incredible job in difficult circumstances.

However business can only do so much, and for almost two years we have operated in a vacuum of local political leadership.

Northern Ireland’s public sector budget has gone sharply into the red due to endless one-year budget cycles and a lack of political accountability. We all know that transformation within the public sector, along with radical reform of public service funding, is urgently needed.

The funding package offered by the UK Government to restore the Executive does offer some respite from immediate budget woes, but whether it is sufficient is another matter.

In any event, running from problem to problem and crisis to crisis, holding emergency meetings between politicians and civil servants is not the right environment in which to build a sustainable and prosperous economy. We need a ‘fiscal floor’ for public service spending to provide a guarantee that funding keeps pace with local needs, aligned with a fully costed Programme for Government which delivers a strategic vision for the future. Firms can’t operate on a day-to-day basis. They rely on those long-term strategies to support their decision making and investment plans.

Despite the challenges in our public services, local chief executives are determined to drive forward, continue investing and grow their businesses in 2024. On that note it was good to see the Chancellor’s autumn statement announcement that full expensing for capital investment would become permanent.

This is the kind of measure that allows firms to plan ahead with confidence and encourages them to invest now for the future. Full

JANUARY 2024

expensing has been a priority ask for CBI members and we were delighted to see the Government listen to the evidence on this issue and make it a permanent feature for business.

National plans to speed up grid connectivity and planning processes were also at the top of the Chancellor’s agenda and, although devolved issues, they are a priority for Northern Ireland firms too. We urgently need to increase grid capacity, speed up grid connectivity and enable net zero projects in Northern Ireland.

While last year was a tough year for both business and households, business owners are by mature typically optimistic. Hopefully we will have an Executive in place to drive local economic growth and project an image of stability to the outside world. This will help to unlock some of the potential investment that the NI Economic Envoy, Joe Kennedy III, has helped us connect into.

Companies are also hopeful that we can collectively tap into the opportunity that the Windsor Framework presents to us. With Northern Ireland’s unique access to both the GB and EU markets, we will hopefully see firms unleash their full potential in these markets in the year ahead.

The latest CBI Economic Forecast suggests UK growth of 0.8% during 2024, then 1.6% in 2025. Consumer spending is also expected to remain weak next year as higher interest rates bite harder on household incomes. But we also recognise that some sectors will continue to perform well regardless. For example, I regularly hear at CBI Northern Ireland Council meetings that the food sector is holding up very well with indigenous food producers tapping in to rising demand for “own-label” as consumers move away from globally branded products.

At the macro level, unemployment is expected to rise in 2024 as weaker demand in the economy places downward pressure on production and services. In some ways this will take some pressure off firms who have been struggling with labour supply. While inflation is also expected to ease in 2024, local companies are acutely aware that the price of labour is becoming increasingly uncompetitive in Northern Ireland and those that can adopt

technology and robotics to replace labour will be exploring this option.

Retention of good staff is at the top of the business agenda. Not all jobs can be automated and so firms will continue to struggle to attract the talent they need in certain areas. At Grant Thornton we are helping more and more businesses implement share incentive schemes in an effort to attract and retain the best.

Another thing that would help local firms compete and grow in the long-term is a reduced corporation tax. The current 25% corporation tax in Northern Ireland is a disincentive to business investment when the rate is so much lower in the Republic of Ireland.

When we talk about a sustainable long-term funding model for Northern Ireland, exploring the role of corporation tax makes sense.

A further priority for 2024 is on business rates support. Firms, including in the retail sectors, had to contend with severe flooding last year, and with firms facing uncompetitive labour costs, unpredictable energy costs, increased costs associated with net zero carbon commitments etc, we will be keeping up the pressure to provide some level of support through the rating system.

Let’s hope too that in 2024 Northern Ireland firms benefit from the tourism spotlight too. It is often forgotten that tourism is like another form of exporting - in that we attract foreign revenues to the local economy. Continually giving people a reason to visit is a really important part of our economic growth strategy. Belfast 2024, a major programme of cultural events, will play a major role in this regard while adding vibrancy to the city.

We cannot forget however that almost 70 countries around the world will be holding elections in 2024. Nearly two billion people will be going to the polls in GB and NI, the US and India alone. Political stability is central to investment – we need our politicians in Northern Ireland to play their part. Business leaders will be only too happy to meet them half way. ■ Richard Gillan is chairman of CBI Northern Ireland and managing partner Grant Thornton Northern Ireland

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BUSINESS FRAUD

Dealing with the biggest shake-up to UK economic crime law in over 20 years The Government’s new Economic Crime and Corporate Transparency (ECCT) Act will see a raft of novel measures introduced to crack down on fraud and other economic crimes. Ben Cooper, partner at law firm TLT, says companies must get ahead of the curve and ensure they are well prepared

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t’s being billed as the biggest shakeup to the UK’s economic crime legal framework since the Proceeds of Crime Act in 2002.

With the introduction of the government’s new ECCT Act, businesses are going to have to focus on how they deal with and prepare for potential acts of fraud and other economic crimes being committed within their operations.

Ben Cooper is a partner in TLT’s economic crime compliance team, working closely with colleagues in the firm’s financial services disputes and investigations practice.

He says while firms in the banking and finance sector have traditionally had procedures in place to address economic crime, the new act will apply to all industries which may not have paid much attention to these controls in the past.

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The act introduces a wide range of measures to tackle economic crime, from reforms to Companies House described as the biggest shakeup in its 180-year history and broad new investigative powers for the Serious Fraud Office.

The new failure to prevent fraud provision will now apply to large organisations, companies or any partnerships ticking any two of the following boxes – turnover of £36m+, business assets of £18m+ or a workforce of 250 people or more.

However, two elements – the failure to prevent fraud and the extension of corporate liability – require businesses to take action now.

It will mean a large organisation is culpable itself if an employee or someone else working for it commits fraud.

Ben has a lengthy CV across a range of senior roles, advising governments, financial institutions, corporates and individuals on all aspects of economic crime. His expertise includes advising on money laundering, sanctions, tax evasion, bribery and corruption, terrorist proliferation financing, corporate ethics, asset tracing, fraud, complex investigations and criminal proceedings. He’s worked in law firms, the National Crime Agency, and for global organisations such as HSBC .

“If an employee, agent or subcontractor commits fraud intending to benefit the large organisation, then the organisations could be guilty of the offence,” Ben says.

“The definition of fraud is wide ranging and covers offences such as cheating the public revenue, false accounting and fraud by misrepresentation.

“This can include activities such as greenwashing and other misleading claims

in marketing materials and if an employee commits one of these offences, then their employer could be liable. The only defence is for firms to demonstrate they have reasonable fraud prevention measures in place.

“To develop these reasonable procedures, businesses need to complete a risk assessment, map out their existing fraud controls, implement additional controls where needed, have clear and concise policies and procedures that are communicated effectively to their employees with the support of senior management.”

Ben says firms should seek advice as to what procedures they require to best mitigate themselves against any potential offences being committed by staff.

“I’ve dealt with economic crime compliance programmes, covering bribery, tax evasions and other areas for over 20 years,” Ben says.

“The important point is to develop a programme that is proportionate, practical and works in practice. A ‘perfect’ policy that sits on a shelf and is never read is no good.”

In terms of the consequences of committing this offence, Ben says that while deferred prosecution agreements, where a business is charged with an offence but proceedings are suspended on agreed terms, firms are still likely to pay large fines.

“We believe you would spend far more in fines than compared with the cost of putting reasonable preventative procedures in place beforehand,” he said.

“Also, if you have reasonable preventative procedures, you can not only avoid negative publicity, but it can actually be a positive news story for your business. Your procedures enabled you to proactively identify the fraud and the bad actor, and have saved the potential victims of the fraud.”

Ben says while the act applies to fraud committed in the UK, UK and overseas firms

JANUARY 2024

Ben Cooper

can also be pursued for offences committed anywhere in the world if the intended victims of the fraud were UK citizens.

“Some firms we speak to don’t need to implement any material additional controls and it’s more a matter of identifying their existing fraud controls and ensuring they are operating effectively, but others will need to start from scratch” He said some of the wider considerations include agents and other third parties acting for and on behalf of firms.

“It’s important to identify and assess the risk of all third parties acting on your behalf and implement proportionate controls to prevent them committing this offence on your behalf.

Due to the similarity to existing failure to prevent bribery and tax evasion offences, you may be able to adopt and adapt those third party controls for this offence And another key element of the new act will see the extension of corporate liability.

This essentially means that if a senior member of staff commits an economic crime offence then that offence can be attributed to the company itself.

“If a senior manager commits any economic crime, for example, money laundering, bribery or tax evasion, it will be easier for prosecutors to attribute that to the company.”

Ben says that if an employee commits a criminal offence the company itself will be branded as the offender in the press, rather than just the member of staff.

“It’s certainly not the sort of thing a company would want to see in the headlines,” he says.

The new legislation applies to organisations of all shapes and sizes.

The offence came into force on December 26, so now is the time for firms to review and refresh their economic crime compliance programmes.

“This applies to any company or partnership,” Ben says. “And the term senior manager is drafted broadly focusing on what the individual is doing in practice, rather than their job title. There’s also no defence – you won’t be able to just show that you have had economic crime compliance programmes in place.

“You will need effective programmes in place to hopefully prevent the criminality from happening or, if that fails, mitigating the criminal charges” “What firms should now be doing is reviewing their fraud controls and economic crime compliance programmes more broadly. They should be refreshing them to make sure they are in the best position to avoid something happening.” ■

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DELOITTE FAST 50

Chris Gregg, chief executive of Lightyear, Aisléan Nicholson of Deloitte and Jonathon Clarke, chief executive of Locate A Locum

Alan Beck, Catherine Ewings of Syndeo, with Deloitte’s Aisléan Nicholson and Syndeo’s Oliver Lennon

Aisléan Nicholson of Deloitte with Sean McAllister from PlotBox

Nine companies from NI ranked in 2023 Deloitte Technology Fast 50

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ine companies from across Northern Ireland have made it on to this year’s Deloitte Technology Fast 50 list, which celebrates innovation and entrepreneurship in the technology sector across Ireland.

The Deloitte Technology Fast 50 ranking features both private and public listed technology companies that have demonstrated innovative strategies, sound management practices and marketplace vision, driving them to achieve the status of high-growth leaders.

Now in its 24th year, the programme ranks the 50 fastest growing technology companies based on revenue growth over a four-year period.

At the awards in Dublin, global business finance and savings platform Swoop was

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named the fastest growing technology business on the island of Ireland.

Cumulatively, the 2023 Fast 50 winners generated over €3bn in total annual revenues, employed more than 8,800 people and had an average growth rate of more than 700%.

Fifteen of the 50 ranked companies were first time winners.

The top placed company from Northern Ireland at number three on the listing was Belfast-based conversational AI solutions provider Syndeo which was founded in 2018

by Oliver Lennon, Alan Beck and Catherine Ewings.

Andrea Reynolds, founder of Swoop, with James Toomey from Deloitte

Catherine Ewings, chief operating officer of Syndeo said: “The rapid scale up and expansion of Syndeo is a testament to the incredible talent, brilliance and hard work of our team. To be recognised by Deloitte for

our innovation and growth is a huge source of pride which has boosted employee morale and instilled a great sense of accomplishment.

It is an honour to be in such an elite group of companies within the Irish technology sector.”

DELOITTE FAST 50

Nuala Houston, head of sales operations with cofounder, Laura Haldane, of SciLeads and James Toomey

The other Northern Ireland companies who made the list this year were: Catagen, Fibrus, Lightyear, Locate a Locum, MetaCompliance, PlotBox, SciLeads and Totalmobile. The result matched last year, when there were also nine NI companies ranked in the Fast 50.

In addition to the Fast 50 ranking, the Deloitte Technology Fast 50 awards included several award categories, with Laura Haldane, cofounder of Northern Ireland-based SciLeads (ranked number 10 on the list) winning the Advocate for Women in Technology award.

Laura, who is vice-president of sales and marketing at SciLeads, said: “I’m really proud to have won the Advocate for Women in Technology award as gender balance and creating opportunities for all are priorities for SciLeads. We’re a 100% remote company and that creates a level of flexibility that all of our team really appreciate. I’m delighted that SciLeads has been listed in the Fast 50 for the third year in a row and in our highest position so far.”

Deloitte Fast 50 lead partner in Belfast Aisléan Nicholson said: “Congratulations to all of the companies ranked this year. While it has been a challenging year for many tech businesses, Northern Ireland’s reputation as a hub for creative, homegrown technology companies continues to grow and the success of those who have made the Fast 50 demonstrates the high levels of talent, ambition and ability to compete at a global level.

“The majority of the Fast 50 companies have grown their workforce and we continue to see strong growth from businesses offering services that help meet the needs of modern life, for example in AI, cleantech, sustainability,

JANUARY 2024

cyber-security and health tech. Deloitte’s Fast 50 recognises this success and also the future growth ambitions of the companies.”

The Northern Ireland companies ranked this year are: Syndeo is a leader in conversational AI, transforming customer experience for global enterprises in marketing, sales, and service. The company utilises cutting-edge technologies for seamless omnichannel interactions. Specialising in deep learning, including traditional and Generative AI, Syndeo enables brands to improve customer satisfaction and operational efficiencies.

SciLeads provides a visionary lead generation and market intelligence SaaS platform that helps scientific companies identify, engage with, and close their ideal buyers. SciLeads has created a database that maps the world’s scientific research and biotech output, helping sales and marketing teams quickly identify potential customers.

Fibrus provides full-fibre broadband services to rural and regional customers in Northern Ireland and the north of England. It is currently delivering Project Stratum, providing access to fibre for around 80,000 homes in Northern Ireland. In June it also delivered its first homes under the UK’s first large project gigabit procurement.

Locate a Locum is an online platform developed for locum pharmacy and optometry workers to help them book locum shifts in the UK. They also offer a workforce management platform that has been integrated into the UK’s largest pharmacy chains for example Superdrug, Boots and Day Lewis.

Lightyear is a cloud app, built to automate large SMEs and enterprise level purchasing and accounts payable processes. Lightyear’s approval workflows allow purchase orders and bills to be approved in seconds, saving businesses more than 80% of their costs and time while also removing human error.

PlotBox is an innovative cloud-based management solution that enables cemeteries, crematories and funeral homes to serve their families in the best way possible. PlotBox is headquartered in Northern Ireland with offices in the US and Australia.

Catagen provides patented green emissions testing services to global automotive manufacturers. Its expertise in the mobility sector and global emissions standards has led the company to develop new technologies including: biohydrogen generators, e-fuel, hydrogen compression and carbon capture.

MetaCompliance provides an innovative solution for staff information security awareness and incident management automation. Its platform was created to meet customer needs for a single, comprehensive solution to manage the people risks surrounding cyber-security, data protection and compliance.

Totalmobile is a leading field service management solution provider that empowers organisations to deliver exceptional services efficiently. With innovative technology at its core, Totalmobile enables businesses to optimise field operations, improve customer experiences, and drive growth. ■ Full details on the winners can be found at www.fast50.ie.

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WORKPLACE

The evolution of the office Calibro Workspace’s managing director Ronnie Crawford looks at the changing workspace in 2023 and what’s ahead

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t seems 2023 has been the year of figuring out what works best for companies and their teams, for the most part.

There’s no one-size-fits-all approach, and one thing we have encouraged our clients to do, is to take a consultative, data driven approach, seeking input from employees in relation to ways of working and the working environment.

This shift reflects changing priorities as companies embed hybrid work options and prioritise employee wellbeing. The office now serves as a hub for collaboration, innovation and socialisation, and a platform to foster company culture and convey a company’s mission, vision, and values.

Here’s a few key trends we’re seeing and how they will play out in 2024.

The compromise of the hybrid working model Many leaders we’ve spoken to throughout the year, alongside recognising the benefits of remote working, are now realising some of the negative implications that lack of in-person collaboration has been having on their culture, and indeed in trying to retain talent. We’re seeing brands roll out mandated office returns for at least part of the working week, in an effort to increase face-to-face contact and collaboration.

Flexible spaces We’re seeing increasing demand for flexibility in spaces and more businesses introducing features such as focus pods, meeting docks and informal meeting settings to accommodate the different working styles of individuals. We’re also seeing greater emphasis on introducing versatile breakout spaces.

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Calibro recently completed a statement HQ for DHL Supply Chain in Dublin

A rightsizing of sorts is also occurring. Many businesses are taking the opportunity to reassess their space to determine if their floor plate meets or is surplus to their needs. Many are looking to restructure the layout of their workplace and move to a more agile design, assessing desk ratios, with some operating on as low as 1:0.6 ratio – six desks for every 10 employees.

Grade A space As the world moves towards a sustainable future, we will continue to see increasing demand for grade A quality office space that meets the latest environmental, social and corporate governance (ESG) standards and helps businesses achieve sustainability targets and accreditations such as LEED, BREEAM and SKA Ratings.

Landlords and developers in particular, face the challenge of meeting the demand for this type of stock, in prime locations with a strong amenity offering. We anticipate challenges will appear in the supply side for this type of space due to the lack of new development projects with ongoing inflationary issues making projects unviable with current rental returns. There has also been discussion around what to do with older stock that has a lower EPC rating and does meet the current requirement of grade ‘E’ or higher to be leased or renewed.

Sustainable design choices Alongside the increased demand for sustainable spaces, is the drive to make more sustainable choices during the design and fitout process. On the technical side, considerations around elements such as using renewable energy sources for example. Designwise, we’re seeing greater demand for recycled materials and products, and those that can be recycled later in life.

More inclusive workplaces For many businesses we’ve spoken to and worked with this year, there’s been a greater emphasis on employee wellbeing and creating workplaces that cater to the changing needs of today’s workforce from a diversity, equality and inclusion (DEI) perspective. Companies are beginning to recognise the role they have to play in fostering employee wellbeing and the importance of creating a sense of belonging for all team members. The introduction of wellness rooms and quiet spaces has been a key trend in this area.

Last year was a transformative period for the workplace, emphasising the importance of an insight-driven, people-first approach in a post-pandemic world. Prioritising inperson collaboration, flexible workspaces, sustainability, and a commitment to inclusivity and employee wellbeing, will be pivotal in 2024. ■

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in protecting objects – operational technology (OT) – a fast growing area that will equal IT in the future.

He was responsible for two quotations on the London Stock Exchange and worked in the capital and securities market in New York, Tokyo and London. At 69, he is the oldest person in Angoka, which has around 40 employees. But that, he says, is perfectly fine.

Autonomous software systems are often connected to control rooms or teleoperations (and in the case of automated buses to traffic systems, roadside units and scheduling applications) and so “it is important they are protected from cyber-security attacks, malicious malware or even state-sponsored terrorism,” notes the executive chairman.

Alongside Angoka’s headquarters in Belfast, the company has an office in London and The Hague. But Steve Berry’s ambitions are unashamedly global. “Having lived and worked most of my life internationally, I bring a perspective in terms of how one goes about expanding internationally.

Almost all the companies Steve was involved with before Angoka, which he co-founded in 2019, have been technology-related. He is a board member on NATO’s Industry Cyber Partnership Boards, which shares information on cyber threats, and the TechUK Cyber Group, a forum for government and industry, and so he’s finely attuned to current issues.

“For me, it’s not just about building a company, but can we build a company that can potentially be a global champion? We shall see how that journey materialises [for Angoka]. I’d like to get a stock market listing. We still have a way to before we do that. It would be nice to establish ourselves as a global champion for the UK and Europe.”

“You have to balance your time. I work long hours and there’s always more demands on oneself. But being involved with other organisations is a big plus. First of all, you’re meeting other highly experienced people. And being on other boards makes a big difference for networking opportunities as well.”

In realising this ambition, his age and experience again work in his favour.

“Leadership is difficult. Frankly, few people are actual leaders. To be a leader, by definition, you need to have followers. But then, you don’t want followers to merely follow. You want them to be part of the journey.” It’s a balance he tries to maintain as chief executive of Angoka.

teve Berry worked for over 35 years across corporate finance, corporate banking, corporate institutions, startups and scale-ups.

“I will continue working for some time to come because I can,” he says. “As an executive chairman, it’s probably a good thing, frankly.

At my age, there’s nothing I need to prove.

What any [corporate leader] should do – but I think you do it better as you get older – is show leadership by example. Give people a chance to make their own mistakes, but also guide them.

Not in an in-your-face way, but in a way that people hopefully find constructive and useful.

If one makes something happen as a leader, it makes it much easier for people to follow.”

Cyber-security certainly requires solid leadership. Security failings not only threaten industries they threaten nations and as more devices become connected, the problems are only going to worsen. Angoka specialises in providing security and digital infrastructure in areas such as drones and autonomous transport. It is currently working on the Harlander Project, the UK’s first fully automated shuttle service on public roads which is led by Belfast Harbour and due to commence by the end of 2024.

Most people associate cyber-security with the protection of information technology (IT) networks and applications. Angoka specialises

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Steve is one of four co-founders of Angoka and he focuses on external stakeholders rather than the day-to-day operations of the company.

“That could be about strategic relationships.

It could be about our shareholders or funding opportunities.”

He led the company’s first acquisition in 2023: R4DARTech Ltd, a ground and air transportation security start-up that specialised in “the use of radar technologies for the

identification of drones and the landing and taking off of drones at virtual ports. The kind of thing you would have seen in Star Wars or Star Trek or Blade Runner.”

“It’s a hard balance in companies, particularly startups, between being focused on your goals but at the same time being flexible. If you give people too many paths or too many different objectives, people get confused about what you’re trying to achieve. You have to balance that in terms of making sure people know what’s expected of them, but also give them flexibility.” ■

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Mimi Turtle

STRAND ARTS CENTRE

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ome chief executives are used to swimming with sharks, but not many have literally done so for the sake of their business.

Seven years ago, Mimi Turtle took part in the Bosphorus swim between Europe and Asia to raise funds for the Strand Arts Centre in Belfast. “It is Turkey’s equivalent of the London marathon,” she says. “You have to change your sightline every time the current changes. If you get that wrong you can be whisked out to Syria. When I Googled it, there had been reports of sharks being sighted in the Bosphorus in previous years but it’s not a common event.”

Mimi raised “about three and a half thousand pounds” from her swim between continents for the Strand, which is Northern Ireland’s oldest operational cinema and a crucial part of life in east Belfast. Built in 1935, the venue was closely aligned with the local Harland & Wolff and today it remains an ongoing resource for the local community. Around 60,000 people use the building every year to attend live concerts, school visits, creative workshops and film premieres. For the chief executive, the Centre – which will undergo a £6.5m redevelopment in 2024 – is not just a professional vocation… it’s personal.

In 1977, Mimi’s grandfather purchased the site and it has since been handed down to her father. She became chief executive in 2012 after the former tenant served their notice. At the time the building “had become financially unviable as a four screen cinema” and was at risk of closure and potential demolition. “So it was probably fortuitous timing that I was on maternity leave. I wanted the Strand to remain a community asset. It’s such a gem of our cultural history that we felt it should be held on to.”

In 2013, Mimi established a not-for-profit charity and repurposed the building. With a background in chartered surveying, she “understood the importance of making every part of the building financially viable – and ensuring it is integrated with the community”.

Her experience in marketing and finance also

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helped. “We got a loan from what is now Social Finance Ireland. Within our sector at the time people were scared to use debt. They saw it as high risk, whereas to us it was an opportunity to generate further income.”

Footfall doubled. But the drama wasn’t just on the cinema screens. Over the following decade, Mimi and her team had to fight to keep the building open. The place closed due to Covid and Stormont collapsed twice – as did a roof in the building. Funding was a constant struggle.

“We started at a time when the size of arts funding in Northern Ireland has reduced by 40%. From the outset, our trustees and I set an agenda that we would always have a balance of only 25% of our turnover being funded and the other 75% being selfgenerated. That removes the level of risk that other people in the sector have to deal with.”

One of the skills she brings to her position, she acknowledges, is tenacity. “It has been mentioned: and probably not so politely.”

The £6.5m redevelopment, which commences next April, will involve new performance space for live productions, an interactive exhibition, restoration of the original architectural features, a new café, disability access, and a reduction in carbon footprint through “solar panels on the roof, and air source heat pumps, and a full insulation wrap of the building”.

Mimi will have two roles as chief executive during the Strand’s year and a half closure. The team will continue its outreach programmes for community groups from a pop-up venue in Connswater Shopping Centre in Belfast. She will also oversee ongoing fundraising efforts.

10% of the total investment must still be raised in order to complete redevelopment.

She describes her leadership style as loose.

“We have a strong team who are all motivated. There is a lot of space and room for everybody to self-manage and they all do that exceptionally well. Perhaps I’m just good at finding great people. It’s not that I’m good at my job. I’m just good at finding people who are good at their job.” ■

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LEADERS IN BUSINESS

Nick Whelan DALE FARM

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s one of the giants of Northern Ireland’s agrifood sector, some of the figures coming out of dairy coop Dale Farm are difficult to comprehend.

It now processes close to a billion litres of milk a year, working with 1,300 farmers and boasting a workforce of 1,100 people throughout the UK and Ireland.

And Nick Whelan has been the man at the helm of this £728m organisation for the last seven years – and dairy is something which has been his blood from the days of his family farm in Wexford as a child.

“We have had another strong year at Dale Farm, with our most recent results showing overall group turnover up to £728m from £591m in the previous year, and group net profit before tax up to £26.8m from £22.1m,” he said.

“This performance reflects the journey we have been on as a co-operative over the past six years. Our farmers have been central to that journey, and we have grown our milk pool from 725 millions litres in 2016/17 to nearly 900 millions litres this past year, which has enabled the business to meet the demands of our growing customer base.

“Our strategic focus throughout this period has been on portfolio management, research and development, brand performance and investing in our people. That strategy is delivering for us.”

For Nick, dairy has been at the core of his personal and professional life across the last five decades.

“I have been in dairy for my whole life, having grown up on a dairy farm in Wexford, and my first job after leaving University College

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Cork was a graduate role in Kerry Foods as a milkman,” he said.

“There I progressed to sales manager then business unit director, before taking up the role of commercial director at Glanbia. Over this period I learned a lot not just about dairy, but about strategic development, business execution and leadership.

“Those are skills I was delighted to bring with me to Dale Farm in 2016. Seven years on and I take great pride in the progress we are making as a Dale Farm team right across the group. I am also immensely grateful for the support of our farmers, and for the trust they continue to put in me and our leadership team at Dale Farm.”

Nick says it remains a challenging period for the sector globally, with supply chain inflation and price volatility.

“We have made cost efficiencies across the business in response to rising food prices and remain committed to being as agile and profitable as possible. This is crucial as it means we can pay the most competitive milk price to our farmers, while also investing in the future stability and sustainability of their co-operative.

“Dale Farm is a co-operative, owned by 1,300 dairy farmers who supply us with milk and we employ approximately 1,100 people across the UK and Ireland. At our sites across NI and GB we manufacture dairy products for the retail, foodservice and food ingredients sectors in both domestic and international markets.”

Looking at his own approach to running an organisation at the heart of Northern Ireland’s agri sector and wider economy. Nick says a key element is nurturing that talent, giving team members the opportunity to grow and bring ideas to the table.

“The success of our cooperative comes down to the ingenuity, creativity and determination of our team members. We hire and retain some of the most talented, driven and innovative people this industry has to offer.

“Once you have the right talent, it is then more than important to create and maintain a culture that fosters real teamwork. Once this is in place it is then important to give the business a clear sense of what it is capable of. This is a never ending continuous and ultimately very fulfilling process of development.”

Sustainability is a buzzword which increasingly raises its head in a company accounts in 2023, and it’s something which is going to become an evermore important part of an organisation’s strategy and business plan in the years ahead.

“The single biggest challenge we face as an industry is on sustainability,” Nick says.

“Dale Farm is serious about reducing our environmental footprint and we have been rolling out sustainability measures for the past number of years, both on farm and across our production facilities. We’re working closely with our farmers, government, and others across the industry to map out a way forward on emissions.

“Food in Northern Ireland has a global reputation for quality, integrity, and sustainability. Sustainability offers a big opportunity for Dale Farm, and as global dairy supply gets more constrained over the next 10 years, I believe we are in a strong position to compete. There are also interesting opportunities emerging in the production of sustainable energy.

“We have a very exciting future here in Dale Farm. Demand for our dairy products continues to grow, and we are always innovating to ensure we continue to deliver for our farmers.” ■

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LEADERS IN BUSINESS

Joanne Liddle

IPC MOULDINGS

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oanne Liddle has a firmly positive outlook for leading aerospace supplier IPC Mouldings.

suppliers, industry and government bodies are vital to how we do business. SMEs are the backbone of UK manufacturing and as such we have the agility to innovate, flex, change and respond quickly without the restrictions that large corporations face.

sustainability. These changes have been fundamental and ensured the success of IPC Mouldings, as evidenced through the company’s quality accreditations, external awards, employee engagement and business relationships.

“Our niche USP is the ability and flexibility to deliver low volume, highly complex products in alignment with the ever-changing demands and systems of an original equipment manufacturer (OEM),” she says.

“The UK aerospace industry is the second largest in the world. In 2020, total UK civil aerospace turnover totalled over $34.8bn, with a 16% global market share. The UK aerospace industry is the crown jewel for UK exports where 97% of domestic aerospace production is exported.

“Under my leadership we have designed, planned and deployed our vision for the future focusing on our communication, preparing for growth and creating value with SMART action plans and deliverables on key elements aligned to our strategic goals.”

“From latch assembly, seat trims and armrests to end bays on an aircraft seat, these highly cosmetic and visual components, seen in aircraft flying all over the world are made by the IPC team in Carrickfergus.”

“The aircraft interiors market is where our long-term growth will be targeted. This is a large sector where IPC Mouldings is well established and has a solid reputation with detailed technical knowledge and expertise.”

Joanne joined the company in 2008, and now heads the business with a team of around 33 staff – extending its global reach with major international giants of industry from the US to the Philippines.

Looking towards Joanne’s approach to leadership, she says until recently she adopted a hands-on approach.

The Carrickfergus-based business is a top supplier of injection-moulded parts, developing a raft of key components, primarily for the aerospace sector interiors.

“As a small NI company, we are constantly evolving and aim to be at the forefront of change as the industry continues to recover and addresses the challenges of carbon reduction.

“My key objective is to ensure everyone in our business shares the vision, the passion and the pride we have in what we do, and that the company consistently demonstrates competence, reliability, and the ability to deliver results to our customers through operational excellence within the supply chain.

“Our business relationships, with customers,

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“I now continue to work at a strategic level and engage directly with organisations such as Invest NI and ADS (NI) to ensure best practice and access to expert advice and industry knowledge,” she says.

“I have a strong management team and with a structured approach which is customer centric, we achieve very high standards. There is also a clear understanding of how everyone in the business has an important part to play.

“With a background in finance, my core strengths lie in financial management and operational excellence.

“Since joining the company in 2008, I’ve directed a programme of change, in line with the company’s plans for growth and

Looking towards the future of the business, she says there’s been a sizeable surge in aerospace demand and sales since Covid-19.

“The latest report from ADS Group, the trade association for the UK’s aerospace, defence, security, and space sectors, highlights a 440% increase year-on-year in aircraft orders compared to August 2022,” she says.

“As order books continue to grow, the backlog of aircraft continues to swell, and is the largest ever with 14,535 aircraft on order following 9% growth in August 2023. At current rates, the backlog is estimated to be worth around £219bn to the UK and represents more than 10 years of advanced manufacturing work.

“However, we are aware of the challenges from cost because of the pressures on freight, material, and labour costs to name a few. Even the recent increase of the living wage has a major impact on any SME. “We are proud manufacturers, delighted to see our product all over the world and recognise that our success is only possible through the dedication and expertise of our people who continually deliver above and beyond.” ■

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Gavin Annon MOUNT CHARLES

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or Gavin Annon, Mount Charles remains both a family business and one which is continuing to grow and expand its size and reach throughout Ireland.

The outsourcing and facilities management business, founded by his father Trevor in 1988 (he now acts as chairman) has grown its headcount to 2,800 – making it one of the top 20 employers here, while turnover has expanded to £55m.

“Mount Charles is an all-island company now,” Gavin, who is now chief strategy officer at the group, says. “We have a group of five companies, and we kicked off Craft Event Co in 2021 in the middle of the pandemic. It’s a high-end hospitality business.

“We have a good portfolio which allows us to cover all-island. I’ve just transitioned into a role as chief strategic officer.”

Gavin says that will see the firm developing a five-year business development plan to expand and seek further opportunities.

He says the firm’s core remains a strong bed of staff, service and helping attract the best talent.

“We have around 2,800 team members and £55m turnover,” he says. “In the last few years we have seen a pick up in the private sector.”

Gavin says while some businesses were keen to use existing contractors amid the uncertainty during the pandemic, clients are now looking elsewhere and what options are available to them, helping bring in new business.

“There’s been growth in the private sector clients [for example]. It’s about meeting the needs of a client… in the Republic of Ireland there’s a real openness for companies like us which are agile and looking at something different.”

That’s also seen Mount Charles expand

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its executive leadership team with senior appointments to develop its business in the Republic.

with a lack of working Executive, a return to a stable government would certainly be welcome.

Gavin has also just been appointed as president of the Belfast Chamber. And in terms of his own leadership, he says much of it is about letting people grow and learning from mistakes along the way.

“Naturally, with the Executive not sitting, it’s a proud moment to see so many businesses doing so well without it in place,” he says.

“Can you can imagine the global potential we could have if we had an Executive upand-running?

“We can do good things by ourselves, but great things together,” he says. “... we would call ourselves one big family.”

“If people want to work with us part-time or for a life-time, we will give them the tools to do the job really well.”

Gavin says listening to staff is key in maintaining a strong workforce.

And he says further growth remains on the cards for the business. “We have always made sure we are ambitious. If you stand still too long you can get left behind.

“It’s about developing resilience and structuring the business [It’s about] moving fast and learning quick. We are robust as a company.”

That’s also seen the firm investing in additional tech and systems in order to deal with increasing digitisation.

Turning to the Northern Ireland Protocol and Windsor Framework, Gavin says while it was another hurdle to get over, it opened up some gateways for the business.

“Pre-Brexit we put number of building blocks in place,” he says. That included setting up a new company entity and putting supply chain and procurement measures in place north and south to deal with any potential challenges. “[It] is what it is – you find a way to work with it.”

However, like many other businesses here, Gavin says while companies are dealing

“We have learned to deal with it. Some international companies love Belfast and Northern Ireland as a location, but with the Executive not quite there… most big firms need stable government to make [decisions].

“We are targeting contracts across the island of Ireland and are always looking to diversify and acquire new businesses which we don’t have.

“We have to keep thinking about how we can bring new exciting services in house – [we are] exploring that.”

Gavin says environmental, social and governance (ESG) is another key strand to its business plan looking ahead.

“It’s front and centre for us to be a responsible organisation across the services which we have,” he says. “There is a big plan to roll that our across the estate. “[It’s about] getting clients, keeping the ones we have and growing with the service lines we have across the estate. We are not on a journey for mass market domination. We are clear we want to stay and maintain a size which is recognisable as a family business.”

And on his new role as Belfast Chamber president, he says: “Belfast and Northern Ireland as a whole, and beyond, has so much potential. The chamber is there to lobby and collaborate with its 600 members across the city. To see the wide range of businesses, which are local heroes and global experts is phenomenal.” ■

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LEADERS IN BUSINESS

Marie-Thérèse McGivern VISIT BELFAST

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ourism is a sector which Northern Ireland is continuing to embrace as a potentially booming part of the overall economy.

Marie-Thérèse McGivern’s credentials across a host of roles, many within the public sector, certainly set her up as more than apt for her new post as chair of Visit Belfast.

“I spent over a decade as director of development at Belfast City Council where I had responsibility for economic development, tourism, culture and urban regeneration,” she says.

“During that period, up to 2009, the council sponsored the opening of what was then the Belfast Visitor and Convention Centre (BVCB) and I was delighted to be involved in developing a strategic approach and plans which included our first Titanic Festival which led on to the creation of Titanic Belfast.”

In her new role the organisation is completing its three-year Rebuilding Tourism Strategy, and developing its new strategy for 2024 and beyond.

“Our Rebuilding Tourism Strategy, introduced to support the city’s post-Covid recovery, was ambitious and we’re delighted that we can deliver an economic impact of more than £300m over the period,” she says. “We are also now on course to return to pre-pandemic levels in 2024.

“As we look forward, sustainability will be key as we continue to champion some of the many neighbourhood and community-based tourism initiatives that make this city such a vibrant,

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welcoming and compelling destination.

“Tourism is now, quite rightly recognised as a significant economic driver in terms of what it contributes to wealth creation, to innovation and, crucially, to jobs – and its importance has never been greater.

“People-centred, this sector is full of entrepreneurial energy, creativity, hard work and collaboration. It’s a city that punches well above its weight.

“For me, it’s a privilege to support an industry that is simply vital in delivering a successful future for Belfast and Northern Ireland as a whole.”

better career paths in the tourism and travel industry.”

She says the potential for leadership “lies within everyone.” “The core qualities of good leadership are about being curious, having imagination and the ability to connect with people – nothing is achieved without the cooperation of others.

“In the tourism sector, we are lucky to be surrounded by many great and experienced leaders, people who continually dare to image and think things differently who have brought passion to their ideas and have driven their energy into realising their dreams.

Aside from her lengthy stint at Belfast City Council, Marie-Thérèse also recently served as principal and chief executive of Belfast Metropolitan College.

“For me, collaboration, connecting and working together to achieve bigger and better things is important. This is a challenging, highly competitive sector but it’s exciting, rewarding and dynamic – and that’s something I really enjoy.”

She is also chair of Maritime Belfast and for the Employability and Skills Advisory Board for the £10bn Belfast Region City Deal, as well as being a non-executive director of the Strategic Investment Board.

Looking ahead to her new role with Visit Belfast, Marie-Thérèse says it will be “important and exciting in equal measure”.

“I was principal and chief executive at Belfast Metropolitan College, the largest further education college in Northern Ireland and the designated lead college for the development of tourism-related training and education across the region,” she says.

“Belfast Met led in training for the catering sector, producing many of Belfast’s leading chefs, while also conducting programmes from beginners through apprenticeships to degree courses as it sought ways to create

“This year alone will see the launch of Belfast 2024, an exciting new campaign supported

by Belfast City Council to celebrate our rich cultural heritage and diversity,” she says.

“We also continue to see Belfast flourish as a cruise destination with bookings already suggesting 2024 will be another strong one in terms of the number of ships arriving.

“Conferences and events – which crucially support our midweek hospitality sector – have also been an incredible, multi award-winning

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success story over recent years and it will remain a key focus as we continue to market, sell and promote the city as a unique, vibrant and exciting destination for leisure visitors locally, nationally and internationally.

“Our wider focus will continue to be on raising growth, raising ambitions and enhancing the experiences of visitors across the domestic, leisure and business markets.

“All this, while also ensuring we keep sustainability at the core of everything we do, following a regenerative business model that recognises and promotes the positive impact tourism can have on our community and environment.” ■

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LEADERS IN BUSINESS

Strategic Power Group: helping business transition to a smarter and greener future Paul Carson and Liam Faulkner of Strategic Power Group look at how they are helping to lead the transition to a smarter, greener energy future by providing commercial and industrial energy users with a secure and sustainable energy source

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or Northern Ireland, like most other economies, the last two years have been characterised by considerable uncertainty and upheaval, as the impact of acute energy and cost of living crises has made for a challenging business environment.

The need to tackle climate change and decarbonise our energy system remains clear and urgent. Generating and enabling significantly increased levels of renewable energy is a task of significant scale which will demand innovation, investment, and leadership from business.

Seasoned renewable energy developer Strategic Power Projects has long been a key player in the green economy, with decades of experience across the Island of Ireland. Working to tackle the challenge of decarbonisation by diversifying the energy mix with increased levels of renewables, the business’ goal was simple - produce power from solar energy and store it for when it was needed.

Then in June 2022, seeing the increasingly difficult conditions in which its customers were operating, the company made the strategic

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decision to use its expertise and market knowledge to launch an extension of its energy portfolio by offering sustainable power directly to local large energy users in the commercial and industrial sectors.

the transition to net zero. We know that we cannot continue with a business-as-usual approach, and it has been exciting to see how entrepreneurs and companies in Northern Ireland also understand that.

Paul Carson, managing director of Strategic Power Group explains the genesis behind its latest brainchild, energy solutions’ provider, Strategic Power Connect.

“We felt that for too long the narrative has been one which has pitted reliability, affordability, and sustainability against each other, with businesses told that pursuing any one of these goals would come at the inevitable expense of the others.

“We set up Strategic Power Connect as a direct response to the significant and vocal demand from large energy users, who made it unequivocally clear that they wanted a solution to tackle both their rising energy costs and assist their commitment to decarbonisation.

“We are at a critical juncture when it comes to cutting our carbon emissions and delivering

“Strategic Power Connect was born out of our desire not just to change this story, but to tell a radically different one. Wind and solar are the world’s fastest growing energy sources, and cheaper than ever in comparison to fossil fuels.

With us, businesses are not pressed to make difficult decisions, they can go green, and, in fact, reduce their costs.”

Strategic Power Connect was born out of our desire not just to change this story, but to tell a radically different one

Strategic Power Connect offers direct renewable energy to its customers, supplying and installing solar equipment on site with no upfront costs. As chief executive, Liam Faulkner explains, creating a nimble and affordable solution that can really deliver for business is what drives him and the team at Strategic Power Connect.

LEADERS IN BUSINESS

Liam Faulkner and Paul Carson

“There is no doubt that that the economic climate will continue to be challenging for the foreseeable future and price spikes are very likely. We know that what businesses need most is long-term price certainty, for themselves, their investors, and their customers.

“On-site renewable energy generation allows large energy users to secure sustainable power directly through a power purchase agreement without any capital outlay. The technology is quick and easy to deploy; often it is operational within six to eight months and then businesses only pay for the energy they use. This means improved security of supply and certainty of provenance and at a lower cost than what the company would pay for power from the grid.

“The energy future we are helping to build is one which removes the dilemma for businesses of having to choose between saving money

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or decarbonising their energy supply. Strategic Power Connect is leading the way in enabling companies to do both.”

Another feature of today’s commercial narrative is the increasingly imperative requirement for companies to place environmental, social and governance (ESG) considerations at the forefront of their planning and strategy. Businesses need to evidence real progress and leadership, particularly when it comes to environmental factors, as this can play a determining role in their ability to maintain competitiveness, win tenders or attract investment.

requirements,” he says.

“Demonstrating environmental responsibility should be seen as an opportunity and not a burden. Businesses need to be confident that they can stand behind their green promises; certain in the knowledge that they are meeting these standards and can, therefore, access funding and investment.

For Liam this is a vitally important part of what Strategic Power Connect offers.

“There will be a range of ESG-related reporting and disclosure requirements coming into force over the coming years and companies need to assess their readiness for the net zero transition. For us, it is very clear that sustainability is no longer a buzz word, but rather an integral part of how any responsible business operates.

“We want to help local businesses and manufacturers display real leadership when it comes to adopting and implementing ESG

“These practices need to be embedded into the fabric of the business and we want to help companies on this important journey.” ■

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BUSINESS ADVICE

The Nb1 approach: 20 years in the making I n the last 20 years Noel Brady has worked with countless organisations from right across all business sectors, offering strategic expert advice and guidance.

He’s the founder and managing director of his own limited company, Nb1. He’s a renowned expert in public sector tendering, sales and marketing and is a highly experienced chairman and non-executive director in organisations in both the private and public sectors.

This year, he is marking 20 years working with a host of major indigenous and international businesses and firms with global reach. But where did all of this begin?

Noel Brady

After more than 30 years working in organisations in both the public (NICS) and private sectors (Fujitsu and Sx3), Noel set up Nb1 – with the aim to assist companies across a raft of areas, including strategic advice, business growth, sales and public and private sector tenders.

“It began at the age of 46”, he said. “I had offers to go back into the corporate world again, but I wanted to try something completely different, I thought I had noticed a niche market for the type of services I could offer, and it wasn’t long before I established this to be true.

“Now, 20 years later and I’m still here. It was a bit of a leap of faith but I felt that I was offering something unique at the time – executive or director level services as an individual to companies who had a need at that level.”

Noel continues to work with a raft of companies from across industry – including helping bring new name firms into Northern Ireland, helping to grow their sales pipeline, providing support on major tenders and networking into individuals and organisations

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that will help obtain their strategic goals.

“Part of my job is market opening, looking for the right opportunities, helping firms to win large bids and tenders by providing experience, guidance and knowledge to assist them with a successful campaign. I have lost count of the value of successful tenders I have worked on but it is certainly more than £2bn.” Some of Noel’s clients include Expleo, Continu, BT, Fujitsu, CGI, Serco, APCOA and TerraQuest, among many others.

“In basic terms Nb1 is about offering strategic input to a client from an experienced executive-level individual who has come from both a business and public sector background.

When people engage Nb1 they engage me, I give them my undivided attention.

“Getting out and networking is a key strand in developing and making business work and develop. You must network, tell people what you do. I’m also a great fan of social media.”

Noel also stresses how important business development activity is for your own company.

“You must leave some time for business

development – if you only fill your days with work, when current contracts end, you’ll be left with unwanted downtime.

“Customer care is essential in a consultancy business – you need to look after your customers, treat them properly and that will develop mutual respect.”

In addition to his services to clients Noel also holds several non-executive positions – ministerial appointments in the public sector as chairman of the Construction Industry Training Board for Northern Ireland and finance non-executive director for the South Eastern Health and Social Care Trust. In the not-toodistant past he has been a Belfast Harbour Commissioner and a non-executive director with the Driver and Vehicle Agency. In the private sector, he is chairman of Continu Ltd, a leading battery storage and UPS systems provider, and in the third sector he is a trustee on the board of the HMS Caroline Trust.

“I really enjoy what I do and while people continue to value my help, I will continue to work with clients right across Northern Ireland and beyond.” ■

ECONOMY

Exports fall for seventh month… but overall decline easing

By Flávia Gouveia

E

xports in Northern Ireland are down for the seventh consecutive month after the sharpest monthly drop since July, according to one report.

According to the latest purchasing managers’ index (PMI) report from Ulster Bank, business activity and new orders also fell for the fifth and sixth consecutive months respectively in November, although the decline is showing signs of easing.

The services sector bucked the trend by posting its first increase in business activity in six months, as overall confidence rose to a four-month high.

It had slumped to a nine-month low in October.

The PMI added that the rate of price inflation remained high, but had eased slightly from the previous survey period. In addition, it was lower than what had been seen in the previous two years.

and new orders falling for the fifth and sixth successive months, respectively,” Richard Ramsey, Ulster Bank chief economist Northern Ireland, said.

construction and retail also adding to their headcount. Manufacturing was the exception, reducing employment for the first time in 11 months.”

But in common with most regions within the UK, the pace of decline eased relative to October.

But the report indicated that optimism among firms had improved across all four sectors, with overall confidence hitting a four month high.

“Export demand weakened further with orders falling for the seventh consecutive month and at a faster pace than in October,” he said.

Mr Ramsey highlighted that the services and manufacturing sectors are “the most confident about business activity in 12-months’ time”.

“On a positive note, the services sector recorded its first increase in business activity in five months. Both services firms and retailers posted a modest pick-up in new orders [during November] while the construction industry experienced another sharp fall in new business.”

“Sentiment among services firms hit a 22-month high. Given the ongoing cost of living squeeze and rising mortgage costs it is perhaps not surprising that retailers remain relatively subdued about prospects for the year ahead.

Despite an increase in employment with staffing levels increasing during November as companies filled vacancies, higher wages also led to higher input costs for businesses.

The services industry posted the fastest increase in input costs of the four broad sectors monitored – construction, services, retail and manufacturing – with manufacturing posting the slowest rise.

“Conditions in the labour market remain tight with firms reporting increased wage costs and struggled to fill vacancies with suitable candidates,” Mr Ramsey said.

“Northern Ireland’s private sector remained in contraction in November with business activity

“Nevertheless, the pace of hiring quickened in November due to services firms with

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“Meanwhile the construction sector, which has reported falling orders for the last 29 months, expects business activity to be flat (at very low levels) by November next year. Given the slowdown in housebuilding coupled with the dire outlook for the public finances in the short-to medium term, this is perhaps not surprising.”

According to the report, business confidence hit a nine-month low during October due to continued high interest rates and the ongoing Stormont political stalemate. ■

Ones to Watch Ulster Business showcases some of Northern Ireland’s up and coming entrepreneurs and leaders of the future

ONES TO WATCH

What does your company do and what role do you play?

Rider Levett Bucknall (RLB) is an independent, construction, property and management consultancy working to shape the future of the built environment. I am a chartered building surveyor, and partner and regional lead for the Northern Ireland office in Belfast.

How did the business start?

The pioneering spirit of RLB can be traced back to 1785, with the first office opening in Birmingham, England. Today we operate in 32 countries, in 38 offices with 1,500 team members. We have been working in Northern Ireland for over 20 years with our Belfast office having opened in 2021.

What is your own background?

I’m originally from Lurgan and graduated from Liverpool John Moores University with a BSc in Building Surveying in 2014, gained MRICS status in 2016 and joined RLB’s Manchester office a year later. Keen to encourage women into construction as well as showcase the professionalism of the industry, I became a Royal Institute of Chartered Surveyors’ (RICS) Assessor in 2019. In October 2020, I relocated from Manchester back to Belfast to open RLB’s NI office.

What are your unique strengths?

I have technical expertise covering various aspects of buildings and construction including pathology, construction technology and project management. However, I think where I, and my team in Belfast, stand out, is our ability to help digitalise the industry in NI, bringing both cost and time efficiencies by replacing traditional analogue processes with digital ones. I also like to think I am a people person so obviously enjoy leading the NI team and steering the RLB Graduate Development Programme and Future Professional Forum.

Who will be your main customers?

RLB has been in Northern Ireland for over two decades, with an office here since 2021, so we have a combination of clients that we have worked with first in Northern Ireland and then

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Carolyn Brady

RIDER LEVETT BUCKNALL extended our work in the rest of the UK and vice versa.

How do you want the business to grow?

I think for RLB as a business it is twofold.

From a business growth point of view, we want to expand our provision of services across all disciplines – quantity surveying, building surveying, project and programme management and advisory services – as well as continue to broaden our multi-sector client base across government, education, health, and retail arenas. The second key factor is our people, we want to continue to nurture those who already work for us and encourage fresh talent into the industry.

What challenges have you faced so far?

To be honest – not any. I think having a global business supporting us in Northern Ireland, combined with the local knowledge of those who understand the region, has allowed us to flourish.

Who or what most inspires you?

It really is a mix of people, and it changes daily. However, there are leaders like recently retired RLB’s global board director Ann Bentley MBE, who not only trailblazed the pathway for women in construction but also achieved so much for the industry with her work with the Construction Leadership Council. I also am inspired by those I see coming up through the industry in my role within RLB’s Future Professionals – their passion, energy, and ability to forward think is amazing.

Where do you think your business will be in the next few years?

We have a 2030 strategy as a business of which Northern Ireland is an integral part.

My aim is to develop the team through development opportunities such as apprenticeships to maintain a future cohort of talent and expand the solution-led services we offer to our clients. ■

ONES TO WATCH

Peter Gilleece VIKELA

What does your company do and what role do you play?

I’m the founder and chief executive of Vikela, where we use advanced 3D printing to manufacture products that work better for the people who use them. Our first line of products is personal protective equipment that is more flexible and fits users better than has previously been possible. As the chief, I’m responsible for building a team who can execute our business goals and engage with customers and investors.

How did the business start?

I have always enjoyed problem solving and trying to find new ways in which things could be changed and improved on. After hearing from friends who work in the defence industry how heavy and uncomfortable their personal protection equipment was, I investigated the market myself and found that the products and standards are much more outdated than people might realise. This includes problems like the fact that products for women in the police and other similar jobs do not protect them to the same standards as their male colleagues.

I started Vikela in 2020 after graduating from university, growing the business from just myself to a team of full-time employees in Belfast.

What is your own background?

I’ve always been interested in how manufacturing capabilities can be improved when engineers have access to every step in

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the design process. While studying a masters in mechanical engineering at Queen’s I was on placement at Aston Martin, where I saw first hand that innovation thrives in an environment where everyone can contribute to the design process.

business and make sure there are direct lines of communication and feedback in the design process throughout our growth.

Ultimately we want to create a hub for selfsustaining innovation where best design and manufacturing practices are intertwined.

What are your unique strengths?

A strong sense of curiosity has helped me reach this point. I thrive on problem solving and piecing together different processes that aren’t usually put together to get creative solutions.

I also think a willingness to make mistakes and learn faster through correcting them is an important part of my approach to innovation and establishing a company.

What challenges have you faced so far?

One of the main challenges I found at the beginning was trying to build a network during the Covid lockdowns. It’s also difficult when starting a company as an engineer to delegate technical work, which is why it’s been so important to me to build a skilled team to work on product development.

Who will be your main customers?

Our first customers will be anyone in the security and defence industry, who have roles where they might find themselves in confrontational or dangerous situations. People in a wide range of public and private sector jobs rely on body armour to remain safe in unpredictable situations, from the police to journalists and paramedics.

How do you want the business to grow?

At Vikela we intend to keep manufacturing in-house, and build the knowledge and design base that needs to go alongside that. I want to create sustainable business growth by empowering people to innovate within the

Who or what most inspires you?

People who are willing to put their lives on the line for their jobs, often protecting other people. That’s why I want to use the newest technologies to make sure their protective gear is as good as it can be.

Where do you think your business will be in the next few years?

Our ambition over the next few years is to grow our own manufacturing and design facility that has the agility to create new and smarter products where people need them. We also plan to refine our additive manufacturing processes to expand into other sectors such as automotive and aerospace. ■

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ONES TO WATCH

Aidan Fisher TROUW

population in a way which is good for our animals, environment and economy. Trouw Nutrition will aim to deliver this by building dynamic and diverse teams through a strong business strategy and a future-proof succession plan in place.

What does your company do and what role do you play?

In simple terms, Trouw plays a vital role in the food chain. Our purpose is ‘feeding the future’ and we do so by developing and supplying ‘nutritional solutions’ to the farming industry which build and sustain the health of farm animals. This directly impacts on food production, resulting in the quality meat and dairy products needed to feed the world’s population – and we do so in a way which is sustainable and better for the environment. As general manager I’m passionate about Trouw, the industry and the people I work with.

director of sales, working with key retailers such as M&S, Tesco and Lidl. I moved to PRM as sales director for two years and I joined Trouw Nutrition in 2020. I haven’t looked back.

How did the business start?

Trouw is part of Nutreco, a global animal nutrition business which originated in The Netherlands. We’ve been operational across Ireland for over 50 years. Throughout, the business’s main driver is to utilise data, technology and R&D to enhance global health.

Who are your main customers?

On a macro level our end customers include some of the world’s largest food companies.

As issues such as climate change, ethics, governance, and sustainability rise up their priority lists, so does the importance of nutrition and animal health. Of course our influence and impact on these issues is through our direct customers which includes the leading animal feed manufacturers and farmers across the island of Ireland.

What is your own background?

I studied Accountancy with French at University so a career in agri-food wasn’t an obvious choice. However my placement year was spent working for Moy Park in France and I got a real buzz from the role. I joined Moy Park after graduating and over 15 years, progressed to

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What are your unique strengths?

I’m passionate about my job. I’ve been told I’m a ‘people-person’, which is encouraging because this industry is full of great people.

I’m also lucky to work with a fantastic team of highly motivated individuals who understand the benefits of collaboration. Thanks to them, I come to work every day with a smile on my face.

How do you want the business to grow?

Sustainability is central to our growth and this means feeding the expanding global

What challenges have you faced so far?

Our greatest asset is our people, and we want to ensure they thrive. We recognise that our employees are committed and work hard, but we try our best to strike a work/life balance.

In 2022 we partnered with AWARE which is an amazing charity focusing on mental health.

This is much more than fundraising as we work closely with AWARE to ensure our staff are fully supported and help them recognise and overcome the challenges that life presents today.

Who or what most inspires you?

That’s simple – my children. Their carefree perspective on life never ceases to inspire and motivate me. Their curiosity is simply the best tonic. I also admire the great Jurgen Klopp, not only for his success in building strong and passionate teams but for his brilliant ability to explain, directly and simply, why the magic worked (or didn’t).

Where do you think your business will be in the next few years?

Trouw is already recognised as a global leader, and we have strengthened our business in Ireland, particularly over the last 10 years. We plan to further elevate the business through capital investment, dedicated succession planning and continuous innovation. Exciting times ahead. ■

ONES TO WATCH

Anna McKeever ARTIST What does your company do and what role do you play?

While I am primarily an artist and drive the creative vision, I work with a small team who support me around sales and logistics as well as helping to run my gallery space on Belfast’s Ormeau Road. I focus my energy on painting, and delegate anything I can.

How did the business start?

I have always painted, but only for myself or family and friends. During lockdown in 2020 I started an Instagram account and started to share my work. I was amazed by the interest in my art. I began to get enquiries from across the UK and Ireland, the US and locally from Northern Ireland. I rented my gallery space in 2021. It is hidden up two flights of stairs, but I love that people don’t stumble upon the gallery – they come specifically to find me. We have had visitors from as far as Canada, the US and Australia, to name a few.

What is your own background?

I worked as a doctor in various specialties, beginning in psychiatry but becoming increasingly interested in preventative medicine and public health. I worked part time between public health and art before I decided to pursue art full-time.

JANUARY 2024

What are your unique strengths?

My background in medicine has given me an understanding of how businesses work, how to manage stress and competing timelines.

From the outset, I have run my own social media. There, I share my process and my inspiration, and I think this makes it easier to connect with the finished product and has removed the “gatekeepers” often present in the art world, allowing me to deal directly with collectors and supporters. I am self-taught as an artist, meaning I have found my own way.

I came to this role later in life after building a sense of confidence that my younger self wouldn’t have had.

Who will be your main customers?

I resonate with Celtic mythology and culture, and this is often reflected in my paintings. My collectors are often part of the Irish Diaspora and can come from all over the world. People with no particular connection to Ireland are drawn to my colours and texture. There often isn’t an objective reason why someone connects with a piece of art. That’s part of the beauty of it.

How do you want the business to grow?

I would like my reputation to continue to grow and would like to display my work

internationally and further develop my presence across Ireland – to cater for those who like my work but are not able to purchase an original piece we have developed limited edition prints.

What challenges have you faced so far?

Managing the creative process whilst running a business. I am used to working as part of a large team as a doctor, and being an artist is very much a solo journey. I have struggled to adapt to this at times.

Who or what most inspires you?

In addition to being inspired by the Irish landscape, myth and legend, I appreciate the work of Donald Teskey, Genieve Figgis, Basil Blackshaw and Diana Copperwhite.

They are very different artists, but I love their combinations of contemporary colours and compositions with quirky themes and representations.

Where do you think your business will be in the next few years?

I hope to continue to develop as an artist, while building my reputation. I would love to be working closely with a gallery to enable me to focus more of my time on my creative output. ■

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ONES TO WATCH

Jonny and Christina Taylor BLANK

What does your company do and what role do you play?

Blank is a fine dining experience on Belfast’s Malone Road. Guests can opt for the a la carte menu or the full Blank experience, offering a choice of six or nine courses which are unknown to diners until dishes are placed in front of them.

The only certain is that every ingredient on your plate has been sourced from the island of Ireland, where we think the best quality produce can be found. I am the executive chef and coowner with my wife, Christina, who is also front of house manager.

our sector, we took a chance on a brand new venue after falling in love with the space on Malone Road.

What is your own background?

I’ve worked in kitchens since I was 13, starting out cleaning dishes. I loved the environment and quickly earned my whites after some hard graft, before going to college to complete a NVQ2 in Catering and Hospitality. Later I moved to Scotland for 10 years and spent another year in Manchester, working with Living Ventures and Jamie Oliver – which is where I met Christina.

How did the business start?

This is our second venture, alongside Shed Bistro on the Ormeau Road, a more casual, family friendly restaurant. We always wanted our own restaurant so when the opportunity came to buy Shed in 2018, we jumped at the chance.

We immediately remodelled the restaurant, before completing another major refurbishment in 2020 which doubled the floor and kitchen.

What are your unique strengths?

Between Christina and I, we have strengths that enable us to cover all aspects of the business. Christina looks after the creative and costumer facing areas, whereas I handle back house including finance and administration, and of course running the kitchen. My best strength is my ability to find unique, top quality produce from local suppliers you will only find off the beaten track.

But we were itching for more. Soon after, during one of the most uncertain periods for

Who will be your main customers?

All kinds of diners come to Shed, and we take

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great pride in the number of regulars we have.

Blank is a little more refined, but anyone who loves food will enjoy it. If you are adventurous or want to mark an occasion with something special, Blank is for you.

How do you want the business to grow?

It’s not about growing for us, it’s about being sustainable and continuing to provide unique experiences for guests. We are happy with our size and scale, but we can’t afford to have any quiet days anymore so we want to see more and more people visiting our restaurants and enjoying what we do.

What challenges have you faced so far?

There are many challenges in the hospitality industry. For us, the financial challenges surrounding purchasing our first restaurant and undertaking the refurbs, staffing, Covid, lack of support, and now the cost of living crisis.

Customers are finding it harder to come out due to financial pressures, energy costs are astronomical and produce is more expensive.

Who or what most inspires you?

I take inspiration from many great chefs – Michel Roux Jr, Raymond Blanc, Gordon Ramsay, Thomas Keller, to name a few.

Where do you think your business will be in the next few years?

We hope to achieve a Michelin Star. We were delighted to be added to the 2023 Michelin Guide, but we would love to take the next step. ■

ONES TO WATCH

Jason McKeown

NEUROVALENS

What does your company do and what role do you play?

I am the co-founder and chief executive of Neurovalens, a Belfast-based company that makes non-invasive medical devices that apply electrical stimulation to parts of the brain in a way that can be used to treat a wide range of medical issues. In 2023 we received our first FDA medical device approval, allowing doctors in the US to prescribe our device to patients suffering from chronic insomnia.

How did the business start?

The concept behind Neurovalens was developed at our lab at the University of California, San Diego. When we realised that the non-invasive technology had potential for very safe and effective treatments, we set up Neurovalens in Belfast and through help by investment from several local investors and through grant support from Invest NI, we were able to build the team here. Now we’ve grown to 20 people, run multiple international clinical trials and have investments from notable VCs in London and Cambridge.

What makes your business different?

Electrical stimulation of the brain is a relatively new field of medicine, and within that, noninvasive delivery is one of the most recent approaches. The method that Neurovalens

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developed has never been used as a medical intervention before, so having this technology FDA-approved has put us in a unique position.

What is your own background?

I trained as a medical doctor and worked across the NHS in several neuro-related and emergency medicine roles. While this provided a foundation of medical knowledge, it was my interest in electronics and computing that made me realise there was an opportunity for innovation. In 2015 I was invited to take a Visiting Scholar position at the Center for Brain and Cognition at the University of California, San Diego. During this time the first pilot studies were carried out and the potential for the technology to become a medical treatment was realised.

Who are your customers?

Due to the range of treatments available, we have a very wide customer base. Our focus right now is on our ‘Modius Sleep’ insomnia treatment in the UK and US markets. It’s a prescribed device in the US, but due to slight differences in medical regulations, the same technology is available in the UK as a nonmedical product. This allows us to provide devices directly to the end user, so the majority of adults in the UK who have trouble sleeping fall inside our customer population.

How do you want the business to grow?

Our 2024 plan for growth is quite simple.

Complete additional FDA medical device approvals; commercialise these devices (starting with the Modius Sleep); complete our Series B stage of investment and scale the team.

What is the biggest challenge you face in achieving that goal?

Investor sentiment has changed quite a lot in the past few years, with much more focus being on actual commercialisation and revenue generation (as compared to future opportunity). As we are transitioning out of a long R&D phase, it’s important that we can inspire confidence in new investors with a robust commercialisation plan and the key team members in position to execute it.

Who or what most inspires you?

I like to understand the story, motivation and challenges of as many successful people as possible – there’s always more to learn.

Where do you think your business will be this time next year?

If the plan for 2024 goes to schedule, we will hopefully have multiple medical device approvals across the world and be building up a strong commercial side to the business. ■

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ONES TO WATCH

Tom Kelly

IONIC TECHNOLOGIES

What does your company do and what role do you play?

Ionic Technologies is a Belfast-based innovative clean technology company which has developed a revolutionary technique to recycle permanent magnets and enable the manufacture of net zero technologies such as EVs and offshore wind turbines. I’m the director of operations and have led the business through a period of rapid growth and delivery of our demonstration plant which we were delighted to welcome Lord Johnson, Minister for Investment, to open in September.

How did the business start?

We’re a Queen’s University spin-out and our partnership with the university continues to be important as we have benefited from a strong pipeline of talented young chemists and chemical engineers. We initially received UK government support which allowed us to develop a demonstration-scale plant. Since our acquisition in 2022 by Australian multinational Ionic Rare Earths Limited, we have undergone marked growth, continually added to our headcount and we’re excited to announce that in January we will hit a production milestone as we move to 24/7 continuous operation.

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What is your own background?

I’m a scientist and engineer by profession.

Prior to joining Ionic Technologies, I held several operational leadership positions across the energy, carbon capture and water treatment sectors, including manging a cluster of power plants across Europe. This kind of work requires a lot of process understanding and optimisation which will be an important feature of Ionic Technologies’ future as we deliver a commercial-scale plant in Belfast.

What are your unique strengths?

In operational engineering settings, it’s critical to prioritise people, plant, and processes.

One of our successes has been in strong recruitment; our technology is the first of its kind, so there is a culture of constant learning, but I’ve been strategic about the skillset I’ve wanted to build in our growing team. This ability to identify potential and capability has enabled Ionic Technologies’ continued growth.

Who will be your main customers?

The western supply chain for permanent magnet manufacturing is small, when compared to China. However, it is growing rapidly, as is demand from businesses for recycled materials. As our technology can

enable the production of high-specification magnets using 100% recycled rare earths for various applications and industries, from net zero technologies to aerospace and defence, we have an extensive customer base.

How do you want the business to grow?

We’re a business with global potential and a bold vision for the future. We want to capitalise on a growing and vital industry and deliver resilient clean technology supply chains domestically across the UK and beyond. Our plan is to build a commercial plant in Belfast which will create up to 100 highly skilled manufacturing jobs. Sustainable technology offers a huge opportunity to NI, and we’re excited to be part of the continuing regeneration of the Harbour Estate as the city’s emerging clean technology hub.

Who or what most inspires you?

Our technology allows for a shift in sourcing critical minerals globally, allowing us to make green technologies such as offshore wind, even greener, as we can eliminate the carbon embedded in the supply chain. I find it inspirational that a NI company is ready to deliver sustainable supply chains that will help power net zero. ■

ONES TO WATCH

with architects, house builders, self-builders, householders and we also deliver grant measures in Northern Ireland. Whoever the customer is, our service is always the same.

We want to help our customers find an insulation solution that will improve their lives.

That ranges from making sure regulations are met and build programmes are kept on time to reducing fuel bills for homeowners.

How do you want the business to grow?

Our growth in recent years has been driven by innovation and high levels of customer service. Our plan is to continue to introduce new products and services to the construction industry that make construction more simple and sustainable.

What is the biggest challenge you face in achieving that goal?

The construction industry can be very traditional and risk averse. Introducing new products or ways to do things can sometimes be daunting. But we have been building a reputation for our technical expertise and exceptional customer service which all helps build trust in the industry in both our products and us.

Connor McCandless ENERGYSTORE What does your company do and what role do you play?

Energystore is committed to developing and installing construction products that create a cleaner environment and improve energy efficiency wherever they are used. Our insulation products are used in over 800 homes a week and we are the largest manufacturer of expanded polystyrene (EPS) bead in the UK. I am group sales and innovation director, which means I oversee sales and have responsibility for bringing new products and innovation to the UK and Irish markets.

operating under its current leadership since 2010. We have almost 50 years’ experience in the insulation business and now operate from six locations across Northern Ireland, the Republic of Ireland and Great Britain, employing 90 people.

How did the business start?

The business was started in 1974 and has been

Who are your customers?

Our customer range is pretty wide. We work

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What is your own background?

I studied accountancy and finance at the University of Glasgow and during my career I’ve worked for Babcock International, Arcadia and BT. I returned to Northern Ireland in 2016 to begin working for energystore.

Who or what most inspires you?

There are a lot of people we can take inspiration from. We have huge admiration for lots of individuals and companies that are pursuing innovation both internationally and in Northern Ireland. One of the individuals I most admire is James Dyson for his perseverance and desire to constantly make products better. The challenge of net zero is one that excites and inspires us to be ambitious about how we can make a meaningful difference to the construction industry.

Where do you think your business will be this time next year?

We’ve all seen how unpredictable the future can be in recent years. However, we have two product launches planned for next year that we’re really excited about. Both of the new products will help our customers achieve enhanced insulation performance compared with other products available in the market today. ■

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GREEN JOBS

Number of ‘green jobs’ in NI higher than UK average

T

he number of so-called ‘green jobs’ advertised in Northern Ireland has grown year-on-year and now accounts for a higher proportion of all job adverts in the region, a report has said.

Just last year Northern Ireland ranked bottom of the barometer but, after strong performance in green job creation, it has since climbed seven places to ranking fifth overall in this years report.

Employers need to be looking closely at jobs that may disappear, new jobs that may be created, and considering how they can equip existing employees with the right skills to make the transition between jobs.”

The latest green jobs barometer from business advisory firm PwC has shown that green jobs now account for 2.4% of all advertised jobs, up from 1.9% in the previous year and above the UK average of 2.3%.

Green jobs in the information and communications sector were up by 63.1% while green jobs in the financial and insurance sectors doubled. The science and technical sector also saw a 20% boost in green jobs.

The report found that while NI had a seen a boost in the number of green jobs, across the UK numbers had fallen from the record levels recorded in 2022.

According to the report, Northern Ireland is one of only two areas to have seen an increase in green job adverts in the last year.

According to PwC this growth was partially offset by reductions of 77% and 54% in the hospitality and manufacturing sectors respectively.

The annual survey, which was first launched in 2021, tracks the movement in green job creation, job loss, carbon intensity of employment and worker sentiment across regions and sectors.

Green jobs include roles in the direct production of environmentally friendly products and services, jobs in the adaptation of existing products and services to being more environmentally friendly, and jobs that support a green economy indirectly.

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“It’s encouraging to see green job creation in Northern Ireland showing resilience,” Jason Calvert, director at PwC Northern Ireland, said.

“The focus now needs to be on creating solutions for businesses in Northern Ireland to help ensure that our economy can capitalise on the opportunities of the net zero transition.

“The path forward will require a concerted effort by both employers and policymakers.

The PwC report said that high interest rates and a challenging economic backdrop led to the number of roles advertised falling by nearly a third, while green jobs dropped by over a quarter.

According to the new report from PwC, Scotland is the best performing of all the regions and nations in the UK, leading the way with green job creation with 4.04% of all jobs advertised considered as green (up from 3.3% last year).

London and the south east show the largest absolute number of vacancies, accounting for 33% of all new green job postings in the UK. ■

Motoring

By Pat Burns

MOTORING

F

irst launched in 2017, the C-HR marked a bold new design concept for Toyota and it certainly worked, bringing thousands of new customers to the brand.

The C-HR has been redesigned for 2024 and is slightly shorter and lower than the previous model, but it’s wider stance and 20-inch wheels give it a much more confident and stand out look. You’ll not miss it in a car park.

Engine choices are 1.8 litre and 2.0 litre petrol units driving through a CVT auto gearbox with a hybrid and plug in hybrid options. The new C-HR has been designed and engineered for European driving and it handles well, delivers strong performance and is a very quiet and relaxing car to drive.

Premium features such as flush door handles, interior ambient lighting with 64 colour options and a panoramic roof that requires no sunshade all add to the premium feel. Rear space is still relatively limited, but for a family it won’t be a problem and there is nothing quite as stylish as the C-HR on the market.

In a first, the model name is fully integrated in the rear light bar and is illuminated when turning on or off. Inside, the multimedia display is integrated in the dash panel while there are new storage points and charging options. In the centre console there is a wireless charging tray large enough for two smartphones.

The new fixed panoramic roof has infra-redreducing coatings which keep heat inside the cabin in winter and prevent overheating in sunny summer weather. This avoids the need for a conventional sunshade, saving weight, improving headroom and reducing the need to use the air conditioning to maintain a comfortable temperature.

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Toyota’s new C-HR continues to make a statement This is the first Toyota to use a new synthetic seat covering material made from recycled PET plastic bottles. Extensive testing and analysis have ensured that the appearance, feel and durability of the materials are equal to or better than those with no recycled content.

The choice for customers includes 1.8 and 2.0-litre hybrid electric versions and a 2.0-litre plug-in hybrid electric. The 1.8 HEV system features an ultra-efficient engine and produces a total output of 138bhp/103kW. The 2.0-litre hybrid’s higher output (195bhp/145kW) offers improved performance of hitting 62mph in eight seconds as opposed to the 1.8 litre’s 10 seconds. Fuel economy on all models is very impressive, offering almost 60 mpg.

The hybrid electric powertrains feature redesigned components for better performance and efficiency and reduced weight. A new high-power lithium-ion battery, located beneath the rear seat, is more compact and weighs 1.5kg less than the previous unit, yet provides 14% higher output.

A new power control unit (PCU) contributes to fuel efficiency through improved cooling and

lower electrical losses; operating at a higher frequency also reduces cabin noise.

Improvements have also been made to braking performance with new 406mm front discs on the hybrid models and 432mm discs on the plug-in version.

The C-HR range comprises four grades – Icon, Design, Excel and GR Sport and, for a limited time, Premiere Edition. The Icon grade features 17-inch alloy wheels, flush door handles, powered door mirrors with auto-folding function and the signature Toyota C-HR rear light bar.

In the cabin the seats have a cloth upholstery and there is a seven-inch digital driver’s instrument display and Toyota Smart Connect multimedia system with eight inch touchscreen. Convenience details include smart entry, an auto-dimming rear-view mirror, automatic wipers, cloud-based navigation, wireless smartphone integration with Apple CarPlay and Android Auto and a front USB-C device charging port. The C-HR success story looks set to continue. Prices start from £31,290. ■

MOTORING

Form an orderly Q A udi is updating the flagship of the Q family with a new design and upgraded technology.

Polished oak inlays and a three-spoke flatbottomed steering wheel are also added in the cabin.

For the first time, Audi is equipping the Q8 SUV with HD matrix LED headlights along with new wheels, colours, decorative inlays, and restyled seats which highlight the car’s top position among the Q models. Prices start from £75,500.

Flagship Vorsprung specification brings a wealth of additional comfort and convenience features, chief among which includes a panoramic roof, all-wheel steering, HD Matrix LED headlamps with Audi Laser Light and a B&O premium sound system. Inside, an extended leather pack, front super sports seats with electric memory and massage function, heated rear seats, four-zone climate control, head-up display and power close doors further enhance the cabin.

The Q8 features Audi’s new corporate identity.

This is the new two-dimensional rings first seen in the Q8 e-tron. Instead of chrome, the new four rings come in contrasting white (S line) and dark grey (Black Edition and Vorsprung).

The new Q8 line-up comprises three core specifications: S line, Black Edition and Vorsprung. Equipment highlights across the range include Matrix LED Headlights with dynamic indicators, Valcona leather upholstery and heated front sports seats, MMI navigation Plus, Audi virtual cockpit, adaptive air suspension, parking system plus with 360 Display and cruise control.

Stepping up to Black Edition brings additional equipment such as the black high gloss package with black Audi rings, door mirrors in anthracite black and 22-inch Audi Sport 10-spoke Y-style wheels in black metallic.

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Electronically controlled air suspension with a continuously adaptive damping system is standard on all models. In addition, all-wheel steering (standard equipment on Vorsprung spec and SQ8 TFSI) ensures an increased level of safety and comfort. At low speeds, the back wheels turn up to five degrees in the opposite direction to the front wheels. This reduces the turning radius, by up to one metre and increases low-speed agility.

The range opens with the 50 TDI quattro, powered by a 3.0-litre six-cylinder diesel engine that generates 286PS and an impressive 600Nm of torque. From a standing start, the Audi Q8 50 TDI accelerates from 0-62mph in 6.1 seconds. It has a top speed of 150mph.

The Q8 55 TFSI features a 3.0-litre six-cylinder engine with direct fuel injection that delivers 340PS. It delivers a maximum torque of 500Nm. With its turbocharged petrol engine, the Audi Q8 55 TFSI accelerates from 0-62mph in 5.6 seconds. It reaches its electronically governed top speed at 155mph.

The V6 engines in the Audi Q8 work together with an eight-speed tiptronic, quattro permanent four-wheel drive, and a mild-hybrid system.

As part of the product upgrade, the SQ8 TFSI now runs on the established 4.0 TFSI with 507PS and 770Nm of torque with fast-shifting eight-speed tiptronic and quattro permanent all-wheel drive.

With this engine, the SQ8 TFSI accelerates from 0-62mph in just 4.1 seconds, with an electronically governed top speed of 155mph.

In the advanced suspension package (SQ8 Vorsprung), customers also benefit from the sport differential. When cornering at high speed, it uses two multi-disc clutches to shift torque between the rear wheels, giving the wheel on the outside of the curve, which has the better grip, the greater share. Known as torque vectoring, this makes handling more precise. When turning or accelerating in a curve, the large sports SUV coupé presses into the curve, reducing the tendency to understeer. ■

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MOTORING

Niro: a star in the Kia line-up

K

ia’s popular Niro crossover has been entirely redesigned from the ground up.

Three electrified powertrains, sustainable interior materials and exceptional safety performance combine to ensure the all-new version surpasses customer expectations.

The redesigned Niro is a key model in Kia’s growing eco-friendly line-up, which will include nine new EV models over the next three years.

The Niro has grown to become an important contributor to the impressive rise in Kia sales here, with it being the second biggest-selling model.

The compact crossover utility vehicle (C-CUV) segment is one of the most competitive, with an array of models on offer. The new Niro offers a choice of low- and zero-emission powertrains: hybrid electric (HEV), plug-in hybrid (PHEV) and battery electric (BEV). The battery electric Niro EV provides environmental and practical benefits with a 285-mile (WLTP) range.

The Niro is longer (65mm), wider (10mm) and taller (10mm) than its predecessor and features an interior designed to appeal to the senses, with premium quality materials and textured

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surfaces that combine to create an avant-garde feel throughout.

In the EV model, by repositioning the Niro’s 12V battery alongside the high-voltage battery at the bottom of the rear seats, boot capacity now reaches a very useful 451 litres, up 15 litres compared to its predecessor. Tumble the seat back forward and this increases to 1,392 litres.

The EV version is distinguished from the PHEV and HEV models by a two-tone closed grille, and – on ‘4’ grades equipped with the optional Steel Pack – a unique Steel Grey side cladding option (or high gloss black as standard).

The Niro has also received suspension and steering improvements to deliver an enjoyable and responsive drive. At the front there is MacPherson strut-type suspension, while the rear gets a four-link arrangement. Both front and rear geometry, together with a revised steering gear ratio, have been tuned for improved responsiveness, stability, and ride comfort.

Additional insulation and padding have been inserted around the vehicle’s structure to help combat unwanted engine and road noise to boost refinement – especially important when running the near-silent EV version.

Other engineering advancements include a modest increase in torsional rigidity, delivering improvements in ride, handling, and steering behaviour.

The Niro builds on the qualities of its popular predecessor, with a quiet and comfortable ride. From behind the wheel the car feels safe, secure, and stable in all conditions.

The Niro EV combines its 285-mile (WLTP) range with energetic and lively performance, producing 150kW (201bhp) and torque rated at 255Nm. With a top speed of 103mph and 0-62mph taking 7.8 seconds, the Niro EV is a smooth and capable performer.

Topping up the Niro EV’s 64.8kWh lithium-ion polymer battery from 10 to 80 per cent takes 45 minutes when connected to a 100kW DC rapid charger.

Kia’s smart regenerative braking system enables drivers to choose from a series of regeneration levels to easily slow the car and recuperate kinetic energy to maximise the driving range.

The system can calculate the amount of regeneration required using radar and road gradient information. The system allows the car to harvest the maximum amount of energy from its brakes while bringing the vehicle to a gentle halt. Prices start from £36,795. ■

Name: Jonathan Megaw Position: Large corporate and international tax director, Grant Thornton The column with an ear for experience...

How did you start out in your business?

While studying at Queen’s University Belfast, I worked in a local accounting practice, gaining experience in the world of finance and after some time, moved onto preparing tax returns.

Through that, I really discovered my passion and ended up joining the HMRC graduate scheme, going on to spend over a decade carrying out high-level tax investigations, working in the department that deals with the largest businesses in the UK and on some of HMRC’s biggest international tax risks. When I was looking for a fresh challenge, Grant Thornton stood out as one that was enjoying extraordinary growth and a vision for the future.

What have you found the most challenging during your years of business, so far?

There have been challenges throughout my career that I’m sure others will relate to such as professional exams and the ever-present challenge of balancing work and life. Early on, I did experience some imposter syndrome – I was dealing with some of the most prominent UK tax leaders as well as some of the largest and most skilled in-house tax teams in the UK. I would be lying if I said I wasn’t intimidated.

This coupled with reporting to and presenting to senior leaders within HMRC, there were days when I felt like I was somewhat out of my league. My method of overcoming that feeling, and I know it may not work for everyone, was to understand where I was adding real value, to be exceptionally well-prepared, and to lean into every challenging scenario. Success will follow and imposter syndrome will pass.

How would you describe your management style?

At a team level, I like to encourage collective ownership and responsibility for what we are trying to achieve. I have a great team with a great culture, and we are all very supportive of each other, focusing on our clients’ needs first.

Of course, we also enjoy a bit of craic together too. At an individual level, empathy is key. Everyone is on their own journey and I do my best to equip, support and encourage everyone

JANUARY 2024

to unlock their potential. I also ensure that I am mindful that there can be external factors that need to be considered.

What would you change if you could go back and do it all again?

I wouldn’t change anything. I have been fortunate to have had some great experiences and exposure, which I wouldn’t change. I also wouldn’t change the tough experiences either as they have been my greatest periods of learning. At times there have been struggles but they have been important for building resilience. I’m thankful for every person that I’ve come across along my professional journey as they have helped shape me in ways they themselves may not have realised.

Have you done it all on your own?

Not at all. The list of people who have played a part in my development is too long to list here.

There have been those who have supported me along the way, those that have opened doors for me and those that have trusted me.

This is why I see it as my responsibility to help support others in their careers.

How would you like your business to be remembered?

My goal is to nurture Grant Thornton’s reputation as being a trusted adviser to our clients. I want my time here to be remembered as the period where we enhanced our reputation as the most trusted tax advisers in Northern Ireland.

What piece of advice would you give to a 20-year-old you?

Apply yourself diligently to everything you do, be thankful for every opportunity, be patient and plan for the future, but be ready to adapt to the present. ■

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APPOINTMENTS

AIB (NI) has appointed Seamus McGuckin as its new head of corporate NI. Mr McGuckin joined AIB in 2017, leading its business banking team, and has a breadth of service expertise including finance, investment and capital markets.

Roisin Keenan is now head of business NI at AIB (NI). Her experience spans corporate banking, mortgages, retail banking and transformation change after working at AIB for 22 years.

Climate Essentials, a carbon intelligence platform, has appointed Sam Evans as business development manager for Northern Ireland who will work to promote growth and support the strategic direction of the firm here.

Susan Cummings has been appointed events manager with the Northern Ireland Chamber of Commerce and Industry (NI Chamber). She joins the organisation from Andor Technology, where she was previously global events manager.

The Open University has appointed Professor Mark Durkin as the new executive dean of the Faculty of Business and Law. Mr Durkin has previously held senior roles at Ulster University Business School.

Antrim and Newtownabbey Borough Council has appointed Richard Baker as its new chief executive. Mr Baker is a public and private sector leader with 30 years of diverse operational and strategic experience.

Lisa Caldwell has been appointed as the new independent chair to the InterDepartmental Working Group. Ms Caldwell has 18 years’ experience across private, public and voluntary sectors working in and alongside government, both nationally and internationally.

The Northern Ireland Meat Exporters Association (NIMEA) has appointed Daryl McLaughlin as its chief executive. Mr McLaughlin was previously policy officer for beef and lamb and hill farming at the Ulster Farmers’ Union (UFU).

Dr Catriona Mac Arthur has been appointed as chief executive of Rosie’s Trust. She is an award-winning social impact strategist with over 30 years’ national and international experience.

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1 PHOTOCALL

1. Staff from Pinsent Masons’ Belfast office and representatives from Business in the Community NI pictured with Madam Justice McBride (centre) and those AS and A Level pupils who took part in the recent Schools’ Work Inspiration Day.

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2. Green Energy Engineering Limited, based in Dromore, has received £500,000 funding from Bank of Ireland UK. Pictured are Diane McCall and George Higginson, Bank of Ireland UK with Diane Morrow, Green Energy Engineering.

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3. Portview, partnering with Community Foundation for Northern Ireland, have donated digital devices to the use of local community organisations and charities to mark Giving Tuesday 2023. Pictured are John O’Doherty and Paul Scullion, Portview.

4. Finnebrogue has worked with Asda to produce 10 new Christmas products, bringing the total number of listings for the Downpatrick based company to 36. Pictured are Andrew Murdoch and Barbara Mullan, Finnebrogue.

5. Tilly Pass has been awarded Farm Safety Partnership (FSP) Affiliate status. Pictured are Jane Gurney MBE, Tilly Trailer Pass Ltd with Harry Sinclair and Dr Bryan Monson of the Farm Safety Partnership.

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6. Ards and North Down Borough Council has launched its second Taste Ards and North Down Food and Drink Destination Development Plan. Pictured are Conal Stewart, Michelle Shirlow, Mayor Jennifer Gilmour and Colin Neill.

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7. The Open University has announced the appointment of Professor Mark Durkin (right) as the new Executive Dean of the Faculty of Business and Law. He’s pictured with John D’Arcy, director of The Open University in Ireland.

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8. Johnny and John McQuillan from McQuillan Companies handed over a cheque for over £130,000 to Conor Maguire, and Jane Hoare from the Children’s Cancer Unit Chairty, following the success of the CCUC Golf Committee’s Golf Tournament at Rockmount Golf Club.

9. Santa is pictured with Mayor of Lisburn and Castlereagh City Council, Andrew Gowan, who has unlocked the door to Santa’s Grotto at Hillmount where Santa and his elves resided until Christmas Eve.

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10. Marie-Thérèse McGivern (centre) has been appointed as chair of Visit Belfast. She is pictured with Visit Belfast chief executive Gerry Lennon and outgoing chair Kathryn Thomson.

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11 PHOTOCALL

11. Five young firefighters from Northern Ireland have passed a significant milestone in Belfast City Airport’s ‘High Flyers’ Apprenticeship programme to secure fulltime employment within the airport’s fire service.

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12. Co Down construction firm Graham has been appointed to carry out a £86.9m transformation of one of East Riding of Yorkshire’s congested junctions.

Pictured are Andrew Humphrey, councillor Gary McMaster, Alastair Lewis, and Richard Lewis.

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13. Clarke Facades has secured £57m of new contracts across the UK and Ireland in the 12 months since BGF invested in the business.

Pictured outside The Paper Exchange in Belfast are Clarke’s chief Eugene Clarke and Chris Nixon from BGF.

14. Galgorm Resort has been recognised by two global platforms, winning six awards at the 2023 World Luxury Awards hosted in Athens. Pictured are Tara Moore, head of spa operations, Emma Garrett, thermal spa manager and Kenneth During, thermal spa manager at Galgorm.

15. Antrim and Newtownabbey Borough Council are supporting the Women’s Aid ABCLN’s Christmas Pyjama appeal. Pictured are Arlene Creighton and Gillian Creevy, Women’s Aid ABCLN with Mayor of Antrim and Newtownabbey, Mark Cooper, and councillor Leah Smyth.

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16. Pictured at the presentation of a special award celebrating 10 years of H&J Martin’s support of Cancer Fund for Children are Phil Alexander, Christel Bourdet, Kieron Millar, Raph O’Connor, Mary Moore, and Corinna Decodts.

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17. Craigavon-based United Wines has agreed an exclusive deal with leading UK drinks company Global Brands to distribute its ‘ready to drink’ brands VK, Hooch and Shake Baby Shake in Northern Ireland.

Pictured are Ross Jones and Andrew Hollywood.

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18. Aer Lingus and Emerald Airlines celebrate flying over one million passengers through Belfast City Airport. Pictured are Ellie McGimpsey, Belfast City Airport, Debbie Connolly, passenger on flight EI3652 from Belfast City Airport to Edinburgh, and Ian Lough, Emerald Airlines.

19. Brendan Crealey, managing director of Industry Training Services, is joined by representatives of CTTS and Openreach at the launch of Industry Training Services telecoms training programme.

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20. Oliver Gunning (right) from Ballyclare is the recipient of the inaugural Vision Sports Ireland Education Bursary supported

by Mason Hayes & Curran. He’s pictured with Will Carmody, managing partner at Mason Hayes & Curran.

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21 PHOTOCALL

21. Henry Brothers has inspired the next generation through an innovative ‘Girls in Construction’ event aimed at empowering female students to explore the diverse career opportunities within the construction industry.

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22. EasyJet has announced it will expand its portfolio of routes from Belfast City Airport with the introduction of flights to Palma de Mallorca for summer 2024.

Pictured is Katy Best, commercial director at Belfast City Airport.

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23. Founder of As Gaeilge, Rachel Brady, is pictured at the announcement that the Belfastbased online retail business has secured distribution with one of Ireland’s leading retailers, Carrolls Irish Gifts.

24. Hinch Distillery, the whiskey and gin distillery on the outskirts of Belfast, has announced a partnership with local actor and producer, James Nesbitt (right).

He’s pictured with Hinch founder Terry Cross.

25. Belfast City Council has launched its new 21 Under 21 – Entrepreneurs to Watch in Belfast competition. Pictured are Belfast Lord Mayor Ryan Murphy with sponsors Richard McConkey, Danske Bank and Daniel Glover and Elizabeth Crossan, Pacem Accounting & Tax.

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26. Celebrating Translink’s top Platinum success at the 2023 Northern Ireland Environmental Benchmarking Survey are Brian Moreland, Moy Park, Grainia Long, John Thompson, Translink, Dr Lisa McIlvenna, Business in the Community NI, and Philip McMurray, Department of Agriculture, Environment and Rural Affairs.

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27. Young artists from across Northern Ireland have entered the inaugural Bradley Art Prize, a new art initiative led by artist Terry Bradley (right) and sponsored by Radius Connect. He’s pictured with Stephen McQuoid, Radius Connect director Ireland.

JANUARY 2024

28. Northern Ireland Chest Heart & Stroke (NICHS) has brought together a host of rugby legends at an event in Shu Restaurant in Belfast to raise £17,000 for the charity. Pictured are Ireland rugby stars Craig Gilroy, Tommy Bowe and Chris Henry.

29. Enterprise NI has revealed over half of the micro and small businesses surveyed in its 2023 NI Enterprise Barometer believe cost pressures are impacting the future sustainability of their business.

Pictured are Catherine Anderson, Scott Wylie and Michael McQuillan.

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30. Lidl has confirmed plans for a new store in Cookstown as part of an £8m planned investment, creating 18 additional jobs in the town and expanding its existing retail team to 40 employees.

Pictured are Keith Lamont, senior acquisitions manager, Lidl, and Ela Wnek, Lidl Cookstown deputy store manager.

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31. Maritime Belfast Trust has won a Gold Green Tourism Standard for its sustainability work. Pictured with the Maritime Belfast team are Kerrie Sweeney, the trust’s chief (front left) and Jac Callan, senior manager, sustainability and impact, Visit Belfast (back right).

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32. Lidl has opened its new store in Strabane following an £8m investment. Pictured are Ivan Ryan, regional managing director, Lidl Northern Ireland and JP Scally, chief executive of Lidl Ireland and Lidl Northern Ireland.

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33. Leading electric vehicle infrastructure provider Weev has partnered with Road Safe NI Charity to drive a comprehensive EV education programme in Northern Ireland. Pictured are Davy Jackson, Road Safe NI and Chris Hanna, Weev.

34. Rutledge Training has launched an apprenticeship drive aimed at encouraging new talent into the local automotive industry.

Launching the scheme are Sandy Fleming and Sian Dodds, Toyota (GB) Ltd and Tracey Eisen, Rutledge.

35. Celebrating 25 years of M&S Newtownbreda are Andrew Chalmers, operations and hospitality for M&S, Gwyneth Davidson, store manager, Lauren McVeigh, deputy store manager, guest Rebecca Ferguson who featured in the store launch photo 25 years ago, and Stevie Quinn.

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36. Co-Ownership has distributed £20,000 among three deserving and impactful community organisations as part of its annual Community Fund initiative.

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37. Belfast chef Sharon McConnell has been named as the joint winner of the global annual culinary Sodexo Global Sustainable Chef Challenge.

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38. Craigavon-based United Wines has launched its festive Designated Driver campaign to help the public enjoy the party season and get home safe.

Pictured are Maura Bradshaw and Gemma Herdman of United Wines, with Peita McAlister (centre) of The Morning Star.

39. John Trainor (right) of the Balmoral Hotel in Dunmurry and Stix & Stones restaurants is spearheading a call for government support to overcome a crisis in staff and skills shortages.

He’s pictured with Kerry Roper, Great British Menu contestant, Belfast Lord Mayor Ryan Murphy, and chef Danny Millar.

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40. Haemochromatosis UK is launching a £300,000 multichannel TV, press, billboard and radio campaign to raise awareness of genetic haemochromatosis.

Pictured are Neil Irwin, Haemochromatosis UK, James Hagan, Hagan Homes, and Stephen Bogan, Genesis.

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LIFESTYLE

1

Tag Heuer Carrera Glassbox There are perhaps few watches more balanced, pretty and unmistakably jawdropping as Tag’s drop in late 2023 with the Carrera Glassbox.

This is a step backwards in time for the brand to its true racing heritage and pedigree (a brand which arguably has the strongest and closest embedded links with motorsport).

You’re getting the stunning vintage look of a an old Carrera 2447N, without the price tag, but with a sturdy, gleaming piece of domed sapphire crystal and a modern, more accurate and robust modern movement (alongside the security of a warranty).

At £5,600 this sits well above the entrylevel Tag ranges, such as the Formula 1 and Aquaracer, but well below the likes of Rolex or other big names for top chronograph with pedigree and an in-house movement. A big shout out to the Skipper, which Tag also released last year.

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Longines Conquest In terms of visual aesthetic alone, Longines really has turned in a good card of late.

Six watches that caught my eye in 2023 We had some significant releases in the last 12 months, from updated classics with new in-house movements, to grand complications and smaller iterations of popular pieces.

John Mulgrew takes a look at six watches which stood out from the crowd in 2023 92

There’s little in the line-up these days which doesn’t draw the eye – from the stunning, dressier Longines Master Collection 190th Anniversary, to the balance of the Spirit Zulu Time and the equally beautiful Legend Diver.

But the 41mm Conquest caught my eye in the last few months. It’s probably just a touch larger than the 40mm sweet spot, but the design team seem to have balanced the dial and bracelet perfectly. It has a bit of Datejust about it with a touch of Seamaster, but it’s still very much its own thing – a clean dial with a date window at six not getting in the way of things.

A few years ago there were some uninspiring pieces, lots of chunky Submariner-styled variations with quartz movements and not enough originality. A lot has changed since then.

LIFESTYLE

5

Baltic Biocompax A French microbrand, yes, but chronographs utilising Chinese Seagull movements. Baltic is putting all its eggs in the aesthetic basket, here. The Biocompax chronographs come in at vintage sizes – a 36.5mm and 38mm – and boast beautifully balanced dials.

The salmon option in particular grabs the eye.

Inside, a mechanical Seagull chronograph isn’t going to win any horological awards – especially with an industry largely moving towards in-house and provenance – but for those less concerned with the inner workings, it’s a pretty piece which is likely to wear well on most wrists, given the reduced dimensions.

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Tissot PRX Powermatic 35mm The Genta-inspired PRX started a seemingly never-ending release of integrated bracelet watches following its release just a handful of years ago (re-release essentially as the original hit the shelves back in 1978). And for good reason. The quartz option remains more or less the best way to spend around £300 (I bought one), while the gutsy automatic with Powermatic 80 movement and beautiful waffle dial is what you purchase if you’re after a one watch collection under £650.

But at 40mm, and with the integrated bracelet, it wore too large for some. Tissot listened and released first a 35mm quartz option and then followed it up last year with the automatic iteration. It’s a balanced and sharp piece on wrist. It’s certainly one to try on in store, first, but the PVD gold version in 35mm could quench that thirst for a classic Datejust without breaking the bank.

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4

Patek Philippe 5308 This one’s for my own personal amusement. The cost aside, I’m not sure if there’s any availability for this piece. But Patek’s salmon dial version of the 5208 – released at in Tokyo and limited to 15 pieces – is mastery in watchmaking, and one of the most beautiful chronographs you’re ever likely to see.

This comes in a platinum case and boasts a draw-dropping salmon dial. And while that dial is busy, given the complications inside – repeater, split-seconds, perpetual calendar and twin chronograph – what Patek does masterfully is balance things perfectly.

If you’re in it for the horology, then you can’t go far wrong with something like this. If you’re in it to flex or show off, then there’s little else in any room which will rule the roost than this.

Unfortunately, it’s either this or a five-bedroom detached house on the Malone Road.

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Tudor Pelagos 39 I’ve had the opportunity to wear a few Tudors in the last couple of years, and while the Black Bay 58 was almost perfect, the Black Bay 54 a beautifully balanced and slightly subtle stunner, I’d argue that the Pelagos 39 could be your one watch collection.

Cased in titanium and with a clean date-free dial, it’s the perfect marriage of Tudor’s own aesthetic with a touch of Submariner in there, without feeling like something of a clone. I’d never really understood the point in titanium – paying more for a metal in order to lose a few grams on wrist.

But wearing this for a week it’s clear where it pays off. The material itself takes a couple of wears to get used to, due to its lightness, but on wrist it just sits perfectly flush and disappears in terms of comfort and balance. ■

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TRAVEL

A first-time skier sees five stars in marvellous Méribel The French Alps will take your breath away, and so will skiing, writes Édaein O’Connell

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Maisons Pariente group, and first opened in 2019 before the global pandemic halted its ambitious ski season ambitions.

he cuckoo comes in April. She sings her song in May. In the middle of June, she changes her tune, and in July she flies away.

The cuckoo hides among the collection of feathered friends in the artwork. She peeps out to say hello to the guests of the beautiful inn that holds her name.

My late grandmother recited this poem every spring without fail. Even when her memory began to fail her, she felt the shift of the seasons, and always asked if any of the family had heard the cuckoo yet. For her, it was a signal that summer was near. A sound she always associated with better times.

While the bird conjures up memories of warmer days for me, my surroundings couldn’t have been more glacial. I was in Méribel in the Trois-Vallées, the largest ski area in the world.

The views of the surrounding mountains are spectacular. Every inch of the vista could be a postcard. Sometimes, I had to question if it was real or not. My disbelief at my surroundings stemmed from the fact I’d never been in such a place before. My rural Irish legs had never been skiing. The only snow I’d experienced was dirty slush after a rare Kerry snowfall.

A picture-perfect French Alps destination, the resort is the middle child between the lively Val Thorens and the uber stylish (and lavishly priced) Courchevel. Méribel is quieter, more quaint and has a relaxed familial atmosphere.

As you drive towards Le Coucou, you get a clear view of seasoned skiers on the steepest of slopes that surround the hotel. They move at turbo speed. The momentum only increases as they zoom back down to ground level.

The five-star Hotel Le Coucou is a direct reflection of this ambience. Warm and inviting, the hotel is part of the family-owned

The Spa Tata Harper du Coucou is top-class, and I chose the Signature Massage to help relax and loosen out the muscles before

And so, I thought of her immediately when I stood beneath the painted dome in the entrance of Hotel Le Coucou in Méribel, France. Painted a deep blue and decorated with various species of birds, the cupola catches the eye immediately upon entering.

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TRAVEL

unassuming Toyota Yaris down winding country roads. In these dreams, I always lose control of the vehicle. The car thunders forwards in each and every direction, but I can never get control of the steering wheel.

My first attempt at skiing was just like my recurring nightmare.

Upon the first insertion of my ski boot into the ski itself, I flew forward on one leg and crashed into a mound of snow. On my second attempt, I collapsed forward into a downward dog position.

Thankfully, I had an instructor. For any newbies on the mountains, lessons from a professional is a must. Not only does it save you from serious injury and teach you proper form, there is always someone near to hoist you up.

Meribel in the Trois Vallees, France

embarking on my skiing journey.

Meanwhile, to better equip myself with the freezing elements of the trip, I decided to undertake a snowshoeing excursion.

It’s the sort of snow activity that will suit those who want to experience the Alps without hurtling downwards at pace.

At many points, I found myself simply standing still, completely lost in awe at my environment.

Everywhere was milky white, trees covered in untouched powder. The air was crisp, opening up my lungs on each breath. The encompassing peaks were otherworldly.

“If skiing is anything like this, I’ll be just fine,” I blithely thought. Reader, I was so horribly wrong.

When I’m particularly stressed in life, I often have a dream where I’m driving my

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Sharing slopes with five-year-olds who have no fear and look like they were born on skis can causes a distinct lack of self-confidence.

However, this feeling didn’t last very long.

With patience, courage, and a glass of white wine over lunch, I started to ski... though I didn’t go very fast or get very far, I understood why so many adore the excursion. It’s immediately liberating. The buzz is unique, consuming and addictive.

Skiing is also painful. After each run, muscles I didn’t even know I had ached. Beautifully decorated and with a warm and cosy aesthetic, my room at Le Coucou became my haven after a day of thrill seeking.

Being active in minus temperatures also works up an appetite. Le Coucou has three restaurants: Beefbar, Biancaneve and the newly opened Le Fumoir. The hotel is boutique in scale, and it is rare to find such a range of cuisines in one place.

Throughout my stay, I felt nothing but relaxed.

This, for me, was the most surprising part of a skiing holiday. Yes, I was sore and fatigued, but I felt the stresses of normal life unwinding from my body.

As I learn more and more about getaway breaks, I realise it doesn’t matter where you are or what you are doing. What matters is that you are physically away from the ordinariness of the hustle and bustle.

This is exemplified by Le Coucou. Some five-star hotels can leave you feeling stiff. Some are cold, with an alienating high-brow approach.

But the guests in Le Coucou wear slippers to breakfast. Staff are kind and helpful, without being overbearing.

Courchevel, while visually stunning and fascinating to experience, feels more like Rodeo Drive in the snow. Méribel is staggering to look at and also refined, but in many ways is its opposite, although it’s only a short drive away.

There is a different tale to be found in each of the three valleys, and a setting to suit all palates.

As a first-timer, I had some preconceived ideas about what a snow holiday would entail. I thought it’d be too difficult, too frustrating. I thought apres ski would be the only highlight.

In fact, it was one of many.

When I returned home, all I wanted to do was go back. I found myself yearning for the snow, and the slopes, and the cheese, and the atmosphere. If you’ve ever wondered about a skiing holiday while staring out at the grey skies of Ireland, this is your sign to finally give it a try.

It’s not often when I’m away that I get reminded of home. Yet, each time I stood beneath the blue painted dome of the hotel, I searched for the cuckoo. Every morning as I hobbled out the front door in my ski boots to put my limbs at risk, it gave me solace to know the little bird was there.

It made me think of my grandmother. Like the cuckoo, maybe she was near, protecting me. So this year, when I hear the first calls of the grey bird in May, I’ll think of her and the warmer days of spring and summer. I’ll also picture snowy slopes and the glowing ridges of the Alps. All wrapped up in the warm embrace of Le Coucou. ■

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TECHNOLOGY

Hanrahan eyes solutions for the supply chain with marketplace start-up Keychain Serial tech entrepreneur Oisin Hanrahan has raised $18m for his new company which aims to bridge the gap between grocery product manufacturers and retailers, writes Adrian Weckler

O

isin Hanrahan, originally from Rathcoole, Co Dublin, but now a long-time New Yorker, is one of Ireland’s best-known technology exports.

From 2011, he raised almost $100m for Handy. com, a cleaner-for-hire service in the US, and then sold it to Nasdaq-listed Angi, reportedly for around €150m.

Now, he has just raised $18m (€16.5m) for his new startup called Keychain, set up with Handy.com co-founder, Umang Dua and the American serial investor, Jordan Weitz.

I sat down with Mr Hanrahan at the Web Summit in Lisbon to talk about his ambition for the new company and reflections on his life as a tech founder to date.

Adrian Weckler [AW]: You’ve just raised $18m for Keychain. What’s the big idea here?

Oisin Hanrahan [OH]: I’ve been looking to scratch an itch to either build or buy or start another marketplace. I’ve spent the last decade building marketplaces. What started as Handy over 10 years ago ultimately became the largest marketplace for home services in the world. And when I left at the end of last year, I was looking for another one. I’m fortunate to have a lot of inbound [discussions] from people

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wanting to start ideas. All sorts of interesting stuff comes my way. But there was one theme that kept coming up again and again. It was around food and beverages and the products that we buy in grocery stores.

When you pick something off the shelf, the chances are that it’s not made by the person whose label is on the box. That wasn’t the case a decade ago. People actually owned the full manufacturing supply chain. So when you talk to people who run brands or retailers, often the hardest problem they have is how to find good people to manufacture products. And if you talk to manufacturers, who are the people who own billions of dollars of plants and machinery, the hardest problem they have is finding exactly who to work with.

This is a problem I want to solve because I understand the dynamics of how to make a two-sided marketplace work. So what we’re building at Keychain is a platform to match brands and retailers with manufacturers in the hopes that we can help them to put better products on the shelf by making them make the supply chain more transparent and more seamless.

AW: So it will be a platform?

OH: The biggest brands and retailers today

are sourcing their products entirely manually.

They’re going to trade shows and brokers and they’re running Word files of lists of manufacturers. And they’re sourcing, in some cases, $2bn of product. The numbers are outrageous. And all of it is being done manually. So if you think about it as taking that friction away or unpacking this black box. The idea is that if you want to start a new product, you can actually find a manufacturer very easily. And similarly, if you have a manufacturing plant, you can have conversations with more people who want a product on the shelf.

AW: And this is a US-first venture?

OH: It’ll start with US brands and retailers but there’s a strong international component to this. The supply chain is massively international.

So the supply chain part of it for manufacturers will be the US, Canada, Mexico and gradually, then, other countries. By the end of next year.

It will be a mostly international platform.

AW: You raised almost $100m over the last decade for Handy.com, which became a successful cleaner-for-hire and home services company in the US. You then sold it for an undisclosed sum to Angi, a Nasdaq-listed company, and became chief executive of Angi.

What was it like to go from a scrappy startup

Oisin Hanrahan

TECHNOLOGY

the right person to do it. And if I’m not the right person to do it, and I’m a shareholder in that organisation, frankly it’s better to have somebody better run it for my economics.

AW: When you were just 19, you started out as a property developer in Hungary. Does that seem like a very long time ago?

OH: I can vividly remember particular moments in that journey, like walking on to a construction site. Or when we took off the roof on the first development that we did, I can remember the closing celebration of when we sold the first development and had a closing party where we invited all of the people who had been involved and all the neighbours.

But the overall period, like if you asked me to describe what the average day was like, it does feel like a long time ago. Having two small kids now, a four-year-old girl and a two-yearold boy, is probably the thing that has put more distance in my mind. It has changed my approach and my perception of what I should be doing, and of myself, more than anything else.

AW: Finally, you’re one of a few senior Irish tech people who decided to attend the Web Summit this year regardless of the controversy that happened. Was that any kind of decision to make?

culture, even if a well-funded one, to a corporate chief of a publicly-listed firm?

OH: When I took on Angi [as chief executive], it had just over a billion of revenue. When I left, it had nearly $2bn revenue and almost 7,000 employees. It was a big operation with a different set of needs than running Handy. But if you listen to what your customers want, and are responsive, and surround yourself at every point with the smartest, most trustworthy people, who are aligned to do what needs to be done, it works.

JANUARY 2024

AW: When you’re surrounding yourself with all of those accomplished people to help, is there not even a scintilla of worry or insecurity that one of them might seem like a better candidate for your own chief executive job? Is there ever a sense of impostor syndrome, as there is in other walks of life?

OH: It’s a real, valid, important question.

But I think it depends on how you regard your own role. I don’t think about my role as that of having to run Keychain or for that matter, Handy or Angi or whatever, forever.

I think about it as running it as long as I’m

OH: I think people can make mistakes. In that context, I think we need to look at the benefit of Web Summit and the importance of bringing people together, more than any error that any one person might have made.

I think [the Web Summit] is a great event, an incredible conference. In-person events are the most important they have ever been in the context of bubbles and online algorithms and a polarised climate.

So I think [the Web Summit] stands out as an event that brings people together. I think it has an incredible opportunity to be ever more important. ■

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Uncovering the 9-5 NAME: Lauren Coughlan POSITION: Director of food and beverage, Fitzwilliam Hotel 6am My dogs Miguel and Lilah are my alarm clock.

I am convinced they can tell the time as they both team up to make sure I am awake at 6am on the button, every morning. Once I’m up – and wearing a large pair of sunglasses – then I’m out walking. I like being up early and often catch the sunrise.

8.45am I’m usually at the hotel around 7am so by 8.45am I’ve probably had three coffees. I always spend a few hours in the morning helping with our breakfast service. Breakfast is a busy time, so more hands really do make less work and there is the added bonus that I am closer to the coffee machine. Plus, it’s great to engage with guests and the team and the easiest way of doing this is to be present. If I’m on an early duty manager shift, I like to spend time in the lobby to support our front of house team and to bid our guests farewell.

10am We have our morning meeting at which representatives from every department run through the plans for the day ahead. It’s a pivotal meeting and sets the tone for how I spend the rest of my day. One of the reasons

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the Fitzwilliam Hotel is such a sleek operation is that time for communication is prioritised.

with regular diners, oversee service and make sure that everything is running smoothly.

I spend about an hour in the morning on emails and doing admin. I like to work from my iPad or laptop in the bar or restaurant areas so that I’m on hand to help and can still engage with our guests and team. Each day I will meet with one of our heads of department to review all things food and beverage related. We could be developing menus, planning staff training, preparing our private dining room, reviewing rosters, adding final touches to the restaurant, or any number of things.

3pm I meet up with our general manager, Cian Landers for a one-to-one. We put the world to rights for a few minutes and then talk about food and beverage service levels, forecasts, goals and progress, upcoming projects, and so on. It’s a great way to align our objectives and helps me to stay focused. My last point of call in the day is to check in with the team coming in for the late shift. We conduct a handover meeting to keep everyone informed with any relevant information.

1pm If time allows, I try to grab a quick bite of lunch right before our busy lunch and afternoon tea service. It’s more of a brunch for me though as I try to eat late in the morning before being back on the floor for service.

I’ve tried almost every item on our a la carte breakfast menu and am slowly working my way through our bar menu right now.

6pm Dog walk number two of the day, dinner and then the gym with my partner. We always do all three together to make sure we get quality time. It’s a great chance to fill each other in about the trials and tribulations of our day.

1.30pm Lunch and afternoon tea gets busiest around 1.30-2.30pm. I welcome our guests, catch up

9pm In bed, candles lit, dogs snuggled up and television on. My favourites to catch up on at the minute are Manifest, Selling Sunset, The Diplomat, and The Night Agent. I am usually fast asleep by 10pm. ■