Net Zero webinar - How, When & Why

Net Zero UK – Why, When and How – Webinar

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The net zero challenge facing the UK will reform the ways in which business is done. To help Irish exporters understand how these changes will affect their sector and growth, Enterprise Ireland UK and UK net zero experts hosted the webinar Net Zero UK Overview, Why, When and How? 

The webinar examines

  • The major industry and policy drivers that will accelerate the UK economy towards net zero emissions

  • The impact of the UK’S Sixth Carbon Budget, Green Industrial Strategy and individual corporate net zero plans

  • Key sectoral updates

  • Enterprise Ireland’s organisational climate action strategy

  • Green initiatives such as the €10 million Climate Enterprise Action Fund

Gain key business insights with our on-demand UK webinar series

 

Net Zero UK – The UK Energy Market & the Net Zero Challenge – Webinar

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This webinar explores the major changes both underway and planned as the UK seeks to transition to a fully decarbonised energy system.

From the increasing role of renewable energy, to the decarbonisation of the heating and transport sectors, this Enterprise Ireland UK webinar invites experts and industry leaders to understand the timelines, technologies and innovation required for the UK energy system to achieve net zero.

Speakers:

  • Andrew Lever, Director of Programmes & Innovation, The Carbon Trust

  • Cian McLeavey Reville, Market Strategy Manager, National Grid ESO

  • Jon Slowe, Founding Director, Delta EE

    Gain key business insights with our on-demand UK webinar series

      Aeriel shot of a large boat with containers in a port

      Incoterms – Defining the responsibilities between buyer and seller

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       Now that the UK is a third country, there is an extra administration burden on those who trade between the EU and the UK. Import and export declarations now have to be completed for all shipments, and duties may have to be paid. But who is responsible for carrying this extra burden and cost? Is it the buyer or the seller? This is where Incoterms come in.

      What are Incoterms?

      International commercial terms, or ‘Incoterms’ as they are often called, define where the responsibility lies between the buyer and the seller. Incoterms set rules for the delivery of goods between trading partners and are recognised globally. These rules help to clarify; who is responsible for the costs involved in the delivery of goods, such costs include insurance, freight/shipping and duty and who is responsible for the import/ export declarations and the associated filing costs.

       

      Negotiating Incoterms

      Companies should try to negotiate the best terms, ensuring that they strike the right balance of keeping buyers satisfied while also ensuring that they are not taking on any extra expenses which they cannot afford or that would make their sales unprofitable. It is important to consider how you will process any declarations and if you can afford to take on the extra costs associated with any of the methods available.

      When agreeing on Incoterms, it can often be the case that the buyer has the greatest say and may dictate the terms. Some companies may take on responsibility for the declarations and duties in order to avoid passing the burden on to their end customer especially where it could be easy to find an alternative supplier locally.

       

      Incoterms in Practice

      There are currently 11 categories of Incoterms but we will look at two to understand how they work in practice.

      EX Works (EXW) typically involves the buyer taking on the majority of the risk and costs involved. The seller agrees to have the goods available for collection at an agreed location. The buyer collects the goods and is responsible for both export and import declarations, shipping costs and the payment of duties.

      Take for example, a French car manufacturer selling cars to a UK car dealership, under the term ‘Ex Works Paris’. The car manufacturer (the seller) will have the goods available for collection at their factory in Paris. The UK dealership (the buyer) will collect these goods. They will bring them to the port, ensure that they have the correct export documentation submitted. They must pay for the shipping and insurance cost. When they reach the UK, they are responsible for having the correct import documentation completed and that duties are paid. Finally, the UK dealership must pay for the transport from the point of entry at the port to their premises.

      Delivered Duty Paid (DDP) is another term that is used regularly. Many large supermarket chains, for example, have stipulated to their suppliers that they must continue to supply goods under DDP terms post- Brexit. This term requires that the seller accepts all responsibility and costs for delivering the goods to the named place of destination. The seller must pay for both the export and import declarations along with taxes, duties, insurance and transport costs.

      Take for example, an Irish vegetable producer supplying a supermarket in the UK under the term ‘DDP Birmingham’. The Irish supplier will now have to submit an export declaration for the goods to leave the country. They will have to pay for transport costs and insurance to get the goods to the UK. In order for the goods to be allowed into the UK, the supplier must ensure that they have the correct import documentation and that all duties and taxes have been paid. Once the goods have been imported, the Irish supplier must deliver the goods to the premises of the supermarket (the buyer) in Birmingham.

      It is important that all companies are aware of the potential impact and extra cost that an Incoterm may have on their business before agreeing terms with their supplier or buyer.

      For companies that feel that their customers could easily find an alternative supplier, it is vital that they take the necessary steps to increase their competitive advantage. Through continued innovation and engagement with their UK customers, companies can ensure that they provide not only a superior product but also better quality service than that of their competitors, making customers less likely to switch.

      Further information on incoterms can be found on the International Chamber of Commerce’s website.

      Europe is our future

      Eurozone: Why trading in the Eurozone equals more profits and less risk for SMEs

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      As an exporting nation, Ireland really couldn’t be in a better place. We have a strong and enduring relationship with both the US and the UK markets, but we also are a pivotal part of the Eurozone, a huge market that is incredibly open to ambitious Irish companies. 

      Anne Lanigan, Regional Director, Eurozone, at Enterprise Ireland believes that the Eurozone represents a huge opportunity for Irish companies, particularly at this time of recovery.

       

      “The market in the Eurozone is five times that of the UK, yet, Irish industry exports from Enterprise Ireland supported companies are just 80% of what they are to the UK. That highlights the opportunity in Europe – we have really only just scratched the surface. It’s a huge market and it’s an easy market in terms of the lack of infrastructure barriers.” says Lanigan

      “In general, Europe is very open to working with Irish companies, not just because we’re Irish but also because we’re innovative, we’re very flexible and friendly to work with, and we are very good at customising our product to suit the customer – and that is very much valued in Europe. We’re pushing an open door in Europe. The challenge is in our own mindset.”

       

      Fewer overheads, more profit

      But the most attractive part of trading in the Eurozone is the fact that we are operating in the same currency. Investment and financial advisor John Power says that the positives of the single currency cannot be underestimated for SMEs. “When you bring it down to brass tacks, for SMEs, anything that requires intervention, eg if you have to manage currency, is an overhead. I think that some smaller companies often forget that managing a currency is an overhead, and removing an overhead is always going to have an immediate effect on your profits.”

      Language is often cited as a barrier to Irish companies trading in Europe, but the positives of dealing in the single currency override any such barriers. “Language is a barrier but we think that habit might play a part too,” says Anne. “Irish companies know how to deal with currency as we have traded with the UK and with the US for years, but even if you have the capability to deal with currency, it is still an overhead. It’s a good thing that our companies are able to deal with currency issues, as the UK, the US and other countries are very important markets for us, but Europe does offer a market that removes this overhead, so your profitability is higher when you’re dealing in the same currency as your customers and your suppliers.”

      There is a second reason why the single currency is invaluable for Irish SMEs – the volatility of exchange rates. “When Brexit was voted upon, we saw the volatility of sterling and the damage that it did to Irish companies,” explains John. “We saw massive margin erosion and margin uncertainty. We saw that margin uncertainty happened throughout the sales cycle, so the margin that a company thought they would get at the start of the sales cycle could be completely eroded by the end of it. It was then that we saw the real damage that currency volatility can do.

      “When you’re an SME working in international markets, the more risk you can eliminate, the better. One of those risks is currency and as an asset class, it’s probably the most volatile. If you can eliminate that, it has to be a huge positive because you’re eliminating a huge overhead and a risk at the same time.” explains Power

       

      Lack of barriers

      But there are plenty of other advantages to trading within the Eurozone. For one thing, the lack of barriers in the European Single Market means that trading is quick and straightforward. “Mainland Europe operates much like the States in terms of there’s no real land borders to trade between member countries,” says John. “Our traditional trading relationship with the UK and the US may have resulted in us partly ignoring the opportunities in the Eurozone, yet it’s possibly the nearest and the easiest trading relationship we have.

      “We are the only English-speaking nation in the EU, we have a great position on the edge of Europe and we share the single currency. This puts us at a unique trading advantage right now.”

      And, financial transactions are fast and easier too, John explains. “We are also members of SEPA, the Single Euro Payments Area, which significantly reduces transaction costs and the time it takes to make a payment. Along with the single currency, this make it far easier for small companies to forecast revenue, and to receive and make payments.”

      All these financial factors have the potential to transform profitability for Irish SMEs, at a time when revenues and profits are in danger of being squeezed. Luckily for us too, Europe welcomes products and solutions from Irish companies, and we have a great reputation in the most in-demand sectors right now.

      “We have companies excelling across a wide range of sectors,” says Anne. “The most important right now would be high-tech construction, ICT – which fits into every sector – agritech & agriculture engineering, automotive and life sciences. But broadly speaking, we have companies providing solutions for every sector in Europe.”

      Put simply, the Eurozone is a huge market full of opportunity for Ireland – and a market that actively welcoming Irish companies. Time, then, to think European.

       

      Enterprise Ireland and the Institute of International and European Affairs (IIEA) presented at three part series; Europe is our future. Watch the final webinar from Sept 24th below:

       

       

      Leo Varadkar and others on trade mission

      Back to business: Tánaiste leads Enterprise Ireland trade mission to London, Paris & Berlin

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      It’s been a long and difficult 18 months for Irish businesses, but now that we can finally travel abroad and meet new and existing companies, the recovery has well and truly begun. In fact, Enterprise Ireland’s ambitious calendar of in-person trade missions has already begun, with the Tánaiste and Minister for Enterprise, Trade and Employment, Leo Varadkar, leading a team on a visit to the UK, France and Germany in early September.

      This was the first in-person trade mission since the EU-UK Trade Agreement and the Covid-19 pandemic, and underlined Enterprise Ireland’s commitment to helping Irish companies grow and prosper during this period of recovery. “This trade mission was a reflection of our commitment to the economic recovery, getting Irish businesses out there as quickly as possible to take advantage of opportunities in these three important markets,” says Tom Cusack, Divisional Manager for International Sales and Partnering at Enterprise Ireland.

      Together, the UK, France and Germany represented 38% of total Enterprise Ireland client exports in 2020, with over 2,300 Enterprise Ireland client companies exporting to these three markets. “Brexit has happened but the UK continues to be the No.1 export market for Irish companies,” says Tom. “Our ambition is to sustain and grow exports into the UK while growing exports outside the UK too. France and Germany are important to us; each market is worth over €1 billion, and as part of the Eurozone, there are several huge advantages in trading with both countries, including the currency, ease of access and ease of trading. But the UK remains extremely important.”

       

      Resilience and growth

      While undoubtedly the past 18 months have been challenging, Irish companies have shown great resilience and tenacity in continuing to trade during tough times. In fact, despite the challenges of Covid-19 and Brexit, Enterprise Ireland client exports remained steady in 2020, achieving exports of €25.48 billion. Plus, over the last 12 months, more than 50 companies have set up a new presence on the ground in the UK, French and German markets, in such growth areas as digital technology, life sciences, construction, fintech, energy and transport.

      “Irish companies have been remarkably resilient over the last 18 months, and have continued to win business and maintain existing business without being able to travel,” says Tom Cusack, Divisional Manager for International Sales and Partnering at Enterprise Ireland.

      “Some industries have been more impacted than others, but our 2020 numbers would have effectively held their own with 2019, which is very positive.”

      To help Irish companies grow and recover, the purpose of the September trade mission was practical, and enabled Irish companies to meet potential new customers and decision makers in many different industries in the three countries. “Ultimately the mission was about raising the profile of Irish businesses and Irish products in the UK, France and Germany, and highlighting the level of innovation and commitment coming out of Ireland,” says Tom. “It was also a chance for companies to pitch to potential customers in each country. The presence of the Tánaiste always helps to get people into the room, so the mission proved a valuable opportunity for Irish companies.”

       

      Three busy days

      The first day of the trade mission took place in London, underlining once again how vital the UK market is to Irish companies. Highlights of the visit included an innovation exchange event, attended by the Tánaiste, with UK local authorities and Irish companies. There was also opportunity for focused business meetings with key decision makers from the UK insurance and healthtech industries.

      In Paris, much attention was paid to large infrastructure projects, and included meetings with Réseau de Transport d’Electricité and EirGrid, partners in the Celtic Interconnector project. There were also meetings with representatives from Le Grand Paris project, the largest transport and infrastructure project in Europe focused on mobility, sustainability and urban development in the Ile de France region.

      The team then travelled to Berlin, where the Tánaiste formally launched Enterprise Ireland’s fourth Enter the Eurozone programme, in partnership with Berlin-based European School of Management and Technology (ESMT). Meetings also took place with Europe’s leading healthcare provider, Helios Health, and German mobility company Tier GmbH.

      Over the course of the trade mission, the Tánaiste also met with a number of IDA Ireland existing and target client companies from the financial, telecommunications, insurance and e-commerce sectors.

      “It was a very busy couple of days but we believe the trip really opened doors for Irish companies, highlighted the significant benefits in doing business with Irish companies and ultimately helped their growth and recovery by introducing new customers and encouraging new business,” Tom explains

      “This trade mission was hopefully the first of many. We have a draft schedule of missions running to the end of the year that includes the US and the Middle East, underlining our commitment to get Irish companies back out there. Where possible, the export agenda will be fully supported by Ministers from the Department of Enterprise, Trade and Employment, which always helps to open doors during these missions. We’re an island nation and exports are vital to us; we have a strong reputation throughout the world and our priority is to sustain and grow this through these trade missions.”

      Delivery driver with customer signing VAT form

      Key considerations for managing customs procedures

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      For a huge number of Irish companies, the UK’s departure from the EU meant a first encounter with customs procedures, or if not an entirely new experience, an unfamiliar one to say the least.

      Two figures give some idea of the scale of the issue. Approx 1.6 million customs declarations are made to Revenue each year with this figure expected to rise to more than 20 million by 2023.

      This massive increase is creating difficulties not just for importers and exporters but is also puting pressure on the logistics sector, customs agents, and the ports, which are already working at capacity. Faced with this situation, many Irish companies have little option but to attempt to deal with the customs processes themselves.

       

      Handling customs procedures in-house

      And this will entail a rather steep learning curve. “There is a general lack of knowledge of the customs process,” says Derek Dunne, director of customs formalities and compliance specialist at Manifests Ireland. “We have been spoiled since the establishment of the Single Market in 1992 when didn’t have to make customs declarations for trade with other EU countries. A whole new generation of firms grew up with the advantage of the Single Market.”

      “The other problem is that where the knowledge does exist in the logistics industry and customs brokers, the capacity simply doesn’t exist to deal with the anticipated increase in the volume of declarations,” he adds. “All the customs brokers are exceptionally busy already and they are not really able to take a chance on bringing new people in and training them up. SMEs can’t depend on brokers and logistics partners. As good and efficient as they are, they just don’t have the capacity.”

      Taking control of the process themselves could be the way to go for many SMEs, he advises. He explains that this may well be the best course of action even if the company can find an external partner to handle the work. “If a broker or logistics company is already looking after 27,000 different products for a lot of other clients, they may find it quite difficult to pay adequate attention to a few products for an SME. In these cases, the SME may be more comfortable handling it themselves.”

       

      EORI number

      The procedures are very clear for companies who wish to make declarations directly to Revenue. “They have to know who you are, what you are importing or exporting, and you have to be able to make the declarations electronically,” Dunne explains. “This means companies need an EORI (Economic Operators Registration and Identification) number. This is a European Union registration and identification number for businesses which undertake the import or export of goods in or out of the EU. You can register for a number through Revenue’s EORI online registration service.”

       

      Online customs declarations

      Making declarations online is known as Direct Trader Input (DTI) and requires importers, exporters or their agents to have dedicated software making electronic declarations to the Automated Entry Processing system (AEP). “You also need to register with Revenue and get a digital certificate from them to make declarations to the system,” says Dunne.

      Fortunately, there is a range of software products on the market to handle electronic declarations. “There are around half a dozen providers out there and it’s a bit like mobile phone offers: they all have different features and benefits, so it is best to weigh them up to see which package best suits the needs of an individual firm. Many of them also have the ability to integrate and interact with existing software systems such as ERP and management information and financial systems. They can export and import data to them – that’s an important thing to check.”

      The software will make the process quite straightforward for the majority of firms. “Most companies will be importing or exporting the same products time and again,” he says. “You need to spend time setting up the system and entering the information, such as commodity codes. The software will make life much easier for that. The packages allow you to create templates which can be replicated time and again. All you need then is the information on when and where and how it’s moving. You might need the assistance of a customs expert when setting it up, but most firms should be able to manage it quite well.”

       

      Customs declarations – outsource or complete internally?

      He believes the decision on whether to outsource customs procedures should be based on a solid business case. “It’s quite a simple calculation really”, he says. “While the software providers have different pricing schemes it usually works out that you shouldn’t pay more than €7 to €8 per declaration when using their packages. On the other hand, you’ll pay €50 to €60 when using a broker.”

      This may sound like a compelling case for carrying it out internally but that isn’t necessarily so. Dunne explains that a company with very small volumes of declarations may find the expense of training staff and the additional administrative burden mean that outsourcing is the better option.

      “If you just deal in one or two products quite often you will get to know the processes involved quite quickly and it will be better to do it in-house”, he adds. “But with small volumes less often it is probably better to try to retain a broker. Also, if you are dealing in unusual products it could be hard to track down their commodity codes so it might be best to have an expert do that. In the end, it’s a fairly straightforward business decision based on available resources and the volume of declarations involved.”

       

      Working with a broker

      For those who see outsourcing as a necessity he says finding a broker will be the issue. “Revenue estimates that there are about 330 brokers in Ireland,” he notes. “These range from large logistics companies to very small brokers. There is no centralised database. You need to talk to them, assess their capacity to take on your business, and their commitment to your company. That’s really the way to go if you want to outsource.”

       

      Preparing to do customs processes in-house

      For those companies which wish to handle the process internally or haven’t decided yet, Dunne says training is key. For companies interested in building the capability internally, there are many customs training courses available to give an overview of customs procedures and train staff how to fill in customs documentation.

       

       

      Update on the AMP7 spending cycle and Green Webinar title: UK Water Sector, Recovery Investment Plans

      The UK Water Sector and the AMP7 spending cycle – Webinar

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      This webinar provides an update to the UK Water Sector and the AMP7 spending cycle and Green Recovery Investment Plans.

      Hosted by Enterprise Ireland and British Water the webinar discusses the key topics facing the sector with insights provide by industry experts:

      • Lee Horrocks, Director, LCH Executive

      • Lila Thompson, Chief Executive, British Water

      • Matt Lewis, Water Innovation Portfolio Manager, Severn Trent

      • Paul Gardner, Managing Director, Glanagua (UK)

      • Mike Froom, BD Director, TE Tech solutions (part of the Trant Group)

      Gain key business insights with our on-demand UK webinar series.

        Middle East Aviation: Ready to soar once again in the post-pandemic future

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        The Covid-19 pandemic has hit few sectors harder than the aviation industry, with severe restrictions on travel and closed borders resulting in a dramatic decline in passenger volumes globally. Airports around the world have had their resilience tested to the limit as they faced the initial paralysis of the skies, followed by the ongoing waves of the pandemic. However, there is a glimmer of light on the horizon driven by the rollout of the global vaccination programme in the majority of countries, albeit at different levels of implementation.

         

        Predicted growth

        Despite the significantly curtailed demand globally and regionally due to Covid-19, the International Air Transport Association (IATA) predicts the Middle East will see a 4.4 percent growth in passenger journeys over the period through to 2039. “With the Gulf Cooperation Council (GCC) home to some of the most advanced airports in the world and often exceling in passenger service, they are on the front foot to ensure restored confidence in flying once again,” said Alan O’ Mahony, Market Advisor for the Middle East and North Africa (MENA) region at Enterprise Ireland.

        “Airport operators and airlines are monitoring the situation closely and continue to adapt to the evolving situation. They are now faced with the challenge of balancing additional health and safety requirements with providing a good passenger experience as they seek to restore confidence in air travel. Innovation and technology across the Middle East will play a key role in unlocking improvements for passenger experience and safety whilst also igniting the recovery for the sector. Ireland has forged a strong reputation for delivering world-leading innovative solutions that are used every day by the largest airlines in the world and across the wider aviation sector. We need this innovation now more than ever to power the industry’s recovery and Irish companies will continue to shape this new age for air travel.”

        Pandemic-era air travel

        Technology has advanced swiftly over the course of the pandemic in reaction to the ever-changing environment, and a new focus on health considerations in technology and process transformation has emerged.

        “One trend that will become more widespread is the adoption of contactless technology in order to minimise the spread of viruses and reduce interaction between staff and passengers throughout the entire journey,” explained Alan. “A good case in point is Irish company IO Systems which operates the automated baggage return tray systems in Dubai International Airport. The company has adapted its latest models to include blue light cleansing technology to ensure their trays are actively cleaned as they automatically return through the baggage system. Airports can ensure additional safety measures are applied whilst still ensuring a good passenger experience is delivered through the introduction of these type of innovative solutions.”

         

        Taking flight

        “The hot topic in the industry right now is the digital health certification to capture the completed vaccination process or Covid-19 status of people intending to fly,” said Alan. “Irish biometric identity assurance specialist Daon is leading the way by creating the world’s first widely adopted mobile health passport to help those eligible to travel to navigate the changing entry requirements associated with Covid-19. The company’s new VeriFLY app, which has already been adopted by American Airlines, British Airways, Iberia Airlines and Aer Lingus, is designed to offer peace of mind before travel by ensuring passengers meet the entry requirements of their destination.”

        VeriFLY provides digital health document verification, confirms eligibility, and allows people to combine necessary travel documents, such as Covid-19 test results, in one place, allowing travellers to ensure they are fully compliant with all the departure and arrival requirements before leaving home. Certified customers will be fast-tracked through the airport where specially designated desks are available for check in.

        “The ingenuity, ambition, and adaptability that Daon and their partners have demonstrated throughout the pandemic are making a significant contribution to restoring traveller confidence and ensuring a positive passenger experience. It’s just one example of how innovation from Ireland, one of the major travel tech hubs in the world, is playing a leading role in the recovery for the sector.”

         

        Advanced technologies

        Responses to Covid-19 have accelerated the adoption of digital technologies across almost all sectors, and it’s thought that many of these changes will have a lasting impact. “With the global smart airports market to top $22.6 billion (USD) by 2025, the requirement for advanced technologies – especially as part of the immediate recovery – will continue to be an important market for the vast array of Irish companies operating in the sector. We are likely to see new entrants into the airport space across technologies such as biometrics, robotics, cloud technologies and IoT.”

        “There is no doubt that the Covid-19 crisis has had a devastating impact on the air travel industry and the recovery for the industry is still some distance away. With that said, recent trends offer reasons for cautious optimism. While it’s certain that air travel will never look the same again, these innovative solutions will help to ensure international airline travel is, once more, cleared for take-off.”

         

        Conor Fahy, Enterprise Ireland

        Market Watch – A view from the Middle East, India and Africa

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        The Middle East is expected to return to business sooner than Africa and India with the tech industry being the first to recover.

        Key Takeaways

        • Companies need to closely monitor the changing business environment and be prepared to quickly pivot their offer or business model if the market demands.
        • Business is severely affected in the region even though the spread of the virus in Africa and India is weeks behind Europe.
        • Borders have been closed, international events cancelled, and most companies are looking to cut costs.
        • The Middle East is expected to return to business sooner than Africa and India with the tech industry being the first to recover.
        • Communication is vital for to maintain long term relationships.

        The global pandemic has indeed affected every corner of the world and according to Conor Fahy, Regional Director, Enterprise Ireland, India, the Middle East, and Africa is no different.

        “The area encompasses over 40% of the world population so lockdown and self-isolation presents many challenges,” says the regional director. “The situation in the Middle East is similar to Europe in timing and response and most companies are expecting a decrease in revenue and are looking to cut costs and consider cost containment and defer or pause investments.

        “The double whammy of an oil price war and Covid-19 will affect budgets and Dubai has introduced highly restrictive measures, including closing its airport, so there is a risk of a sharp increase in business defaults and liquidations in the travel and tourism industry. Also borders have closed across the region and major international events have been cancelled or delayed.

        “India and Africa are currently around three weeks behind in terms of cases and government response. But business is severely affected, while economic activity is suffering from the initial phases of lockdown. The medium-term impacts will be severe and combined with oil-price shock and reduced demand for commodities, the region is likely to tip into an economic contraction in 2020/21, in the absence of major fiscal stimulus.”

        There are eight Enterprise Ireland offices across the region which are helping Irish companies stay informed, connected and exporting. And Fahy says it’s crucial for people to avail of this support and keep communications lines open in order to survive the challenges.

        “We are providing in-depth customer engagement, virtual itineraries, bespoke buyer webinars and one-to-one advice and guidance,” he says. “Personal connection is vital to winning and retaining business so it’s essential to stay connected with existing customers. Be the trusted source of information: and proactively communicate with accurate market information and insights from your industry contacts, and from Enterprise Ireland’s Market Research Centre.”

        “When things get tough, the temptation is to become acutely focused on immediate problems but while these should be addressed, developing a strategy for recovery is just as vital. So extend your timeline assumptions and planning-against scenarios, even if it appears difficult. Now is the time to invest in strategic planning and to start thinking through decision criteria and conditions for return to business.”

        Many organisations are still dealing with immediate concerns around the availability of cash.

        While all sectors are being affected across the region, Tourism, Aviation, Construction, Industrial Manufacturing and Mining and Oil industries have been hardest hit but technology related businesses will be the first to make a recovery.

        “CFOs in the Middle East are expecting to get back to normal sooner rather than later; pausing or delaying investments instead of cancelling them altogether,” he says. “In fact, the majority expect to return to business as usual within three months if COVID-19 were to end today.

        “Investments in digital transformation, customer experience and cyber security are most likely to be protected as a result of Covid-19 and all indicators point to a technology-led recovery as AI is becoming pivotal in managing the huge amounts of data needed to deliver services and product.”

        While there are certainly challenges facing Irish exporters, Fahy says there are also some emerging opportunities, particularly for digital payments and cloud services.

        “The near collapse of many online grocery retail platforms is driving demand for process automation and intelligent self-service and Irish companies quickly recognize the changing market dynamics,” he says. “But while positivity may be in short supply, there is optimism in around returning to business and continuing to invest where it matters.

        “Business leaders need to invest time away from crisis management to show leadership and strategically look to future opportunities which will emerge when these economies rebound.”

        Conor Fahy is Enterprise Ireland’s Regional Director of the Middle East, India and Africa. To learn more about the steps companies can take to address the impact of Covid-19 visit our business supports page.

        happy employee

        Irish talent tech firms boost global engagement and productivity

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        In this era of widespread remote working, employee engagement and wellbeing matter more than ever. Isolated workers need to feel a sense of community and get support from their employers in line with their company’s values.

        Companies around the world are looking to Irish talent tech companies for cutting-edge digital solutions to enable streamlined, effective work by HR departments, managers and employees. From wellbeing apps to performance management tools, Irish companies are exporting best-in-class products to businesses in dozens of countries.

        Most are also focused on integrating with the existing technologies used by companies, meaning those in charge of IT budgets can maximise their legacy investments. Discover how five of the best in Irish talent tech are meeting the needs of a global client base.

         

        1. Workvivo: Engaging employees with a highly social experience

        Cork-based Workvivo is an enterprise social network, designed to enable organisations to engage as well as communicate with their employee communities.

        “We took activities such as posting, liking and sharing content to an activity feed, which people are used to on social media apps outside the workplace, but developed them in a business context, enabling people to more easily engage with one another and with their company.” says Pete Rawlinson, Chief Marketing Officer at Workvivo.

         

        Describe your business

        “Disengagement was an issue for as many as 70% of businesses before the pandemic,” he adds. “One-to-one communication tools such as email or messaging facilitate communication but don’t do anything to provide that sense of community and culture.”

        “People  need to feel part of something, especially when they are working remotely.” Pete Rawlinson, CMO at Workvivo

        Since the pandemic spread, Workvivo has seen a significant increase in enquiries. “Companies are seeing that many remote workers can feel isolated. Our platform helps bring employees together through a highly social experience. We see customers using the platform to host activities such as quizzes and competitions that really help create that important sense of community….and fun!”

        Woodies found that its Workvivo activity went up when its workers were furloughed due to Covid-19. “These were mainly employees with no work email account or company device, but they wanted to stay engaged,” says Rawlinson.

        Workvivo has sought to ensure it can integrate with existing communication tools such as Slack, Zoom and Workday, and also includes built-in engagement analysis through pulse surveys, he says, adding that many customers report higher levels of employee satisfaction and engagement than before they implemented the platform. “Higher engagement typically leads to increases in talent retention and acquisition,” he said.

        Established three years ago, Workvivo now has customers in 35 countries with over 150,000 users on the platform. The company is headquartered in Cork, Ireland and has recently opened an office in Sacramento, California. Having recently secured $16m (€14.2m) in Series A funding, it is now focused on expanding its US client base and accelerating its product development plans.

         

        2. Frankli: automating continuous performance management

        While performance review cycles can strike dread into both managers and employees, Frankli aims to make performance management easier and more intuitive with its end-to-end platform.

        “Our product allows managers to have much more meaningful conversations with people and support their development,” says Noel Dykes, founder and CEO of Frankli. “This approach is transformative and agile — we don’t set out to be a once-a-year annual cycle of goal-setting and meetings.”

        A software engineer by background, Dykes worked as a consultancy practice manager in New Zealand and saw first-hand that younger employees were particularly keen on continuous feedback and recognition. “People want to be truly connected to the work,” he says. “They want to understand their purpose. Why are they there? What is the company they are working for trying to achieve?”

        He adds that purpose-driven organisations will thrive, especially as remote working opens up a global marketplace.

        “Managers are going to become coaches, rather than engaging in direct management in the office where they can see employees and know what they are working on. From now on, they will have to trust people and give them much more autonomy.”

        Within Frankli, managers can set up regular recurring one-to-one meetings with their team members, setting priorities, agreeing action items and supporting accountability on both sides. The software suggests recommended talking points, based on insights from organisational psychology. Employees can also contribute comments and suggestions.

        The product also enables businesses to offer more tailored learning and development opportunities, including a two-sided mentor marketplace tool.

        Frankli has customers of all sizes in Ireland, the UK, Poland and New Zealand. While its core focus is midsize companies looking to scale, it already supports workforces of as many as 70,000 employees.

         

        3. Empeal: personalised employee wellbeing at scale

        While many employee wellbeing platforms work on a one-to-many scale, says Sohini De, founder of data-driven start-up Empeal, her business aims to deliver 1:1 wellbeing support at scale.

        “If someone is having trouble with sleep, perhaps not doing too much exercise, eating unhealthy food or generally falling into bad habits, they can go through the programme on our system,” she explains.

        “They start by completing interactive questionnaires and we can also integrate data from their wearable devices. They could be given a personalised programme to improve their sleep hygiene, for example. If they continue to have problems, their case is escalated to a sleep expert.”

        With users in Ireland and India, Empeal is now focused on expanding those markets and pushing into both the UAE and the UK, So far, it has seen engagement rates of 60% on average, which De says is high for a wellbeing app. “We have also seen very encouraging results in terms of people achieving their health goals,” she says.

        In addition to helping employees improve their wellbeing, Empeal also provides anonymised aggregate data to employers to enable them make better decisions, improve staff retention rates and attract more talent.

        To help companies navigate the coronavirus crisis, Empeal produced a free toolkit of resources and also made its community-level module free. “We were finding a lot of employers were asking, ‘How can we take care of our people at this time?’ — they were very concerned about how everyone in remote locations was coping not in touch with their workplace or workmates,” says De.

         

        “The community engagement part of the platform, which includes fun challenges and community boards, helps employees feel connected and it’s very simple to roll out for HR teams.” Sohini De, Empeal founder

         

        4. Peptalk: building community through connection and wellbeing

        The three founders of workplace wellbeing platform Peptalk — all former sports stars — know more than most the value of wellbeing when it comes to performance.

        “We had all been involved in high performance sports,” says CEO James Brogan, an all-Ireland winner himself and a cousin of Dublin GAA legend Bernard Brogan, another of the co-founders along with Michelle Fogarty, who represented Ireland at taekwondo. “We had seen that to get the best out of people, their lives need to be in balance. What you do off the pitch is as important as what you do on it.”

        Peptalk aims to help companies build sustainable high performance cultures through its community-driven employee experience platform. The product includes an insights tool, management toolkits, an employee app and a real-time measurement dashboard.

        “We’re helping organisations with those off-the-pitch activities. We’re helping humans to be better at what they do, to have more energy, and to be more focused and resilient,” says Brogan.

        He adds that the Covid-19 crisis has exacerbated the issue of work-life balance: “Senior leaders have seen a different side to their staff. They’re now acutely aware that, unless people have proper support, they won’t be able to work to the best of their ability.”

        During the crisis, Peptalk has seen increased engagement from existing clients, while also doubling its usual number of demos to potential customers.

        Set up in late 2016, Peptalk has users in 10 countries, including Mondelez, McDonald’s and Paypal. “This is a global challenge faced by multinationals. We offer one solution that works across an organisation, so there is no sense of disconnection with different offices doing different things,” says Brogan.

        With serious plans to scale further, Peptalk expects to close out its current funding round later in 2020. “This is the time for us to get out and support as many organisations as we can,” says Brogan. “It’s a challenging time and the need has never been greater for the type of services we offer.”

         

        5. Wrkit: easy to implement and clinically-backed 

        Founded two decades ago, Wrkit was originally a group benefits scheme, which evolved into an employee discount scheme. While users can still access thousands of discounts on holidays, food, clothes and other products, Wrkit has expanded to offer other services, including a learning portal with 4,500 personal and professional courses, a recognition portal and a wellbeing portal called Powr.

        “POWR stands for Positive Occupational Wellness Resources, offering tools such as meditation, breathing exercises and reflective journaling” explains Jason Brennan, Wrkit’s Director of Wellbeing and Leadership.

        “The big differentiator between Powr and similar apps is that it offers 430 clinically based behavioural plans put together by psychologists,” says Brennan. “These are based on six paths — mind, sleep, work, life, food and active. When users answer the questionnaires for these paths, they are given a personalised plan.”

        “POWR users begin by finding out how they score clinically in the 6 areas of wellbeing and are instantly provided with personalised clinically based plans to improve engagement and growth in each area. During covid for example we saw a huge up take in the activity, work and life plans, helping not only users but employers by feeding back what is happening in real time with their anonymised and aggregated dashboard.”

        Wrkit is based in Dublin, but also has offices in London and Massachusetts. Its clients include multinationals such as KPMG, FedEx and Boston Scientific. Its internet-based application can be launched quickly as it requires no specific IT infrastructure, says Brennan.

        “All we need to launch is the list of employee ID numbers, and we provide lots of webinars and video tutorials to help staff engage with the tool, which is of course completely confidential.”

        When Covid-19 struck, Wrkit quickly found demand rose. “We launched to 60 companies in eight weeks,” says Brennan. “We also quickly created a Coping with Covid portal to help users.”

        Market Entry title and businesswoman image

        Export Journey: Step 5 – Market Entry

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        Market Entry title and businesswoman image

        Your next priority is for the execution of your company’s vision within new export markets. Key to this will be preparing the company for this change and subsequent increased demand from and servicing of new export markets.

        Consideration for a successful market entry should include;

        1.Identify and allocate adequate resources such as:

          • Financial resources i.e. cash required to sufficiently support overseas exports
          • Additional equipment or fixed assets needed to increase volume or backup global sales
          • People, including staff, suppliers or other valuable relationships in Ireland or overseas

        2. Defining where your first sales will come from

        Will your customers be a distributor which imports in larger quantities, or an overseas agenct or representative acting on your behalf or will it be a separate trading company of your own business?

        3. Developing your lead generation strategy

        Supports will need to be assigned to generate business leads. Will they be predominantly offline, online or a hybrid?

        Offline: fairs, events, conferences, network meetings or

        Online: website, social media, blogs etc.

        You will need to qualify and validate the leads, managing them through a Customer Relationship Management (CMS) system such as Salesforce.

        4. Marketing and communications

        Implementing a successful marketing and communication plan is vital for sustained sales in export markets.

        When developing a plan, it is important not to do a ‘copy and paste’ of the same marketing strategy from your domestic market as these are likely completely disparate territories. While it is logical that you should retain your company values and purpose, you will need to adapt your marketing and communications strategy to your new export market

        5. Implementing a sales process

        By implementing a sales process, you are creating a set of logical, repeatable steps that your sales team goes through to bring a potential buyer from an early stage of awareness to closing the sale. There are various stages that need to be considered in developing an effective sales process, such as;

        a) How will your company cultivate your sales leads?

        b) What preparation will you commit to in order to be ready to capture an overseas sale?

        c) What will be your sales teams approach to a prospective buyer?

        d) How will you adequately present or pitch your sales in an overseas market?

        e) Is your team setup to deal with buyer objections or queries?

        f) Have you experience in closing a sale in an overseas market?

        g) What follow-up work will be done post buyer presentation?

        6. Relationship building

        Relationship building is a key factor in developing sustained sales in export markets. Any company considering to expand globally is undoubtedly looking for a return on their initial investment, and companies looking for better business returns are strongly encouraged to place an emphasis on relationship building.

        Companies can quite often focus on the transactional, revenue generation portion before they consider relationship building. However, as is the case in much of the world, relationships based on mutual respect and trust outplay singular transactions. Relationships need to be worked on and require different approaches for different markets.

        Take the next step in the Export Journey

        Market Watch – South East Asia

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        Overview

        • Many countries in South East Asia have made a successful return to business
        • Travel restrictions had posed problems for businesses selling into the region, but goods are moving again.
        • Critical supply chain companies are ramping up production and capacity to meet increasing demand
        • Opportunities are continuing to arise, particularly in Digital technologies, Life Sciences, Telehealth, and Industrial sectors
        • Life is beginning to return to normal.

        Every industry across the world has been impacted by the effects of Covid-19. But while there is undoubtedly still a long way to go, business is beginning to return to some sort of normality and Kevin Ryan, Director of ASEAN, says much of South East Asia has made a cautious, but successful return.

        “Business is definitely getting back to some semblance of normality, but things are a little different,” says Ryan. “In Singapore, we are now in Phase 2 of the ‘Circuit-Breaker’ measures and most businesses are now allowed to return to office environments. But the message remains consistent and to work from home where possible.

        “Politically there is a history of stability and longevity here with governments making long-term plans which are carried on by successive ruling parties and this is very beneficial to the economy of the region.”

        With experience of the SARS epidemic in 2002-2004, the governments of SE Asia have been methodical in their management of the Covid outbreak and this has proved crucial in the successful reopening of business.

        “During the phased approach, the return to work was carefully managed,” says Ryan. “And around the region, key markets are opening up and demonstrating strong ownership in managing business and movement of goods.”

        So with the effects of Covid shaping how people work and interact, the ASEAN director says strong sectoral opportunities have emerged.

        “The Future of Work and the Digital Workplace is a very interesting development and client companies see big potential across the Asia market,” he says. “Here you have huge centres of populations, with Banks, Insurers and Tech companies all requiring teams to work remotely and embrace innovative solutions.

        “From the Life Sciences sector, there is significant interest and demand for services which offer innovative solutions to help eliminate the effects of Covid. And the crisis has shown how reliable technology can be and has forced governments to take a fresh look at implementing digital health solutions in their regions.

        “Consumer Retail is also playing out strongly with the likes of Water Wipes and Pestle & Mortar being two good examples of clients gaining traction in Asia.”

        But most businesses, regardless of sector, are focused on saving cost, generating additional ancillary revenue streams and using technology to help prevent Covid in the workplace.

        “Businesses are very keen to understand how technology can help them combat the pandemic and keep staff safe,” says Ryan. “We’ve had strong engagement with companies who see the value proposition, most notably with the likes of Novaerus who have a proven air and surface disinfection device. While companies such as Combilift have proven capabilities in an industrial space, helping to eliminate waste and enabling companies think more efficiently.

        “Our clients are constantly looking at new ways to offer unique solutions to companies, which are now struggling with their traditional business model. And we are seeing success and increased interest in companies such as Good Travel Software (GTS), which allows OEM car manufacturers and car companies opportunities to tap into additional ancillary revenue streams they wouldn’t have considered before.”

        But one of the real strengths of Enterprise Ireland is its network overseas.

        “We are the gatekeepers making sure clients are ready to make the leap,” says Ryan. “We also work with them to break down any barriers – geographically and culturally.

        “So on a positive note, we’re definitely seeing greater availability and access. Prospective buyers in the region are realising that unless they open their minds and are willing to think innovatively, they will face the prospect of losing opportunities to their competitors, and in this climate that could prove fatal. Irish companies have a long history of being innovative and entrepreneurial and business in Asia is very responsive to this.”

        The SE Asia region encompasses 10 countries with a population of circa. 650m people and Ryan says the market is very much open with he and his team engaging regularly with client companies to support a successful entry into the region.

        “Ireland, in comparison to some parts of Asia, is small, and our team works extremely hard on selling a consistent Irish message,” he says. “We have strong success in opening doors and creating opportunities and our reputation across the globe is superb with Ireland’s expertise in Asia shining through from the perspective of innovation and quality.

        “So there is light at the end of the tunnel, and we’re encouraging clients who have a product ready to go, to engage in Asia as we are laying the groundwork for opportunities to be realised in 2021 and beyond.”

        Get key insights on the supports available from Enterprise Ireland.