UK packaging webinar title

The UK Packaging Sector Webinar – Opportunities and Challenges

Few sectors have been affected greater by the COVID-19 pandemic than the packaging sector. The increased demand on food packaging with the upsurge of people eating at home and companies forced to rethink their packaging as minimalism made way for health and safety, the packaging sector was forced to change quickly to the ‘new normal’.

Now as a post-pandemic world looks somewhat in sight, it’s time to reassess the UK market and re-evaluate how Irish packaging suppliers can take advantage of the £11 billion UK packaging sector.

In this webinar, Andrew Finch, UK Packaging Consultant examines the UK packaging sector and discusses:

  • State of the UK market post-COVID-19 and post-Brexit

  • Opportunities for Irish packaging providers in the market

  • Latest demands from UK multiples and key industry stakeholders

  • Sustainability outlook in the UK

  • How to best engage UK packaging buyers

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

    The lion’s share of French business happening in Lyon

    As the UK has left the European Union, France is now Ireland’s closest neighbour in the bloc and Claire Tobin Mercier, Senior Market Advisor at Enterprise Ireland, Lyon, says the strong trading history and good relationship between our two countries makes France an ideal environment for Irish investors.

    “France boasts the presence of large indigenous companies across multiple sectors along with a high number of decision centres for multinational companies, which are very much aligned with Irish capabilities,” she says.

    “For the second consecutive year, France is Europe’s number one destination for foreign direct investment with 23 important new projects announced weekly throughout 2020. These opportunities add to the huge €100bn investment envelope made available by the French government for post-Covid economic recovery to be spent in areas such as sustainability, infrastructure and digital transformation.”

     

    Looking to Lyon

    Tobin Mercier, who joined Enterprise Ireland in 2019, having originally moved to Lyon to establish the subsidiary of an Irish medical diagnostics company, went on to develop her own consulting business helping foreign companies get a foothold in the French market. So, she has a deep understanding of the capabilities for Irish industry within the region and says there is much scope for business development.

    “France represents a big and vibrant market on our doorstep and our relationship with the French has always been healthy and filled with mutual respect,” she says. “However, people often think of Paris when they consider doing business in France, but Lyon is regarded as the most ‘business-friendly’ city here. It has a fantastic geographical position, being bordered by both Switzerland and Italy, and is serviced with a highly developed infrastructure for air, rail, road, and river transport. In addition, the region has many similarities with Ireland, including its size, industrial ecosystem and many SMEs are also family-owned businesses.

    “The fact that several Irish companies have already set up businesses in this area is indicative of the potential the region represents – and some of the Irish players who have substantial presence include Life Scientific, Amarenco, Kingspan, Icon, Smurfit Kappa, Grant Engineering and Tricel.”

    Lyon is the capital of the Auvergne Rhône Alpes region, which is the second strongest economic region in the country. It is the birthplace of life sciences in France and is home to many big names in the industry, including Sanofi Pasteur, Boehringer Ingleheim, Medtronic and BioMérieux, which helps to drive the local economy.

     

    Sectoral expertise across life sciences and clean technology

    “It is also the top vaccine production centre in the world and recognised as a benchmark region on immunology, infectious diseases, diagnostics and veterinary health,” says the market expert. “In addition, it is one of Europe’s most important clean technology development regions and on this basis, allocates more money to renewable energy than any other region of France, making it a place of great business opportunity for testing innovative environmental solutions in energy transition and efficiency, mobility of the future and circular economy.”

    The area is also the second most important digital hub in France and the top industrial region, with a dense network of industrial corporations, SMEs, and innovative start-ups. And due to its strategic location, the logistics and transport sector is also particularly strong.

     

    Covid-19 impact

    Of course, the pandemic has had an impact, which can be seen in the dramatic drop in GDP of 8.3%, the largest ever measured here. But while 320,000 jobs have been lost, this figure is considerably lower than the 600,000 job losses which were predicted last year and is a result of the massive take-up of the partial unemployment measures put in place and also the much stronger performance of the economy in the last quarter of 2020.

    “Overall, French purchasing power did not suffer from the pandemic and in fact, the French people have saved an extra €111bn in comparison to 2019,” says Tobin Mercier. “So, there is hope on the horizon and I would encourage Irish companies to seriously look at the French market as a territory offering great opportunities for those who want to grow their export sales.

    “The ‘Irish friendly’ environment which is very prevalent here should be taken advantage of and if you are thinking of doing business in France, invest some time in research as the French market requires some investment at the start, and it can take some time to get a foothold, but once in, you will find a favourable and loyal business environment.”

    For more information on doing business in France, visit Enterprise Ireland’s French market page.

    Enter the Eurozone

    How Enter the Eurozone is helping Irish companies just like yours to do just that

     

    Companies all over Ireland are winning new business across Europe with the help of Enter the Eurozone, an innovative business development programme from Enterprise Ireland that provides tailored market entry support.

    The five-month programme was launched in 2019 and is currently on its fifth intake.

    To date 102 companies have come through it. Of these 37 have taken steps towards operating in European markets.

    “When you consider that typical business to business cycles take 18-months to complete, and that the bulk of participants have been on the programme during Covid, that’s a remarkable success rate,” says Paul Browne, Programme Manager International Partnering at Enterprise Ireland, who runs Enter the Eurozone.

     

    Opportunity on your doorstep

     

    The programme is designed to help Irish companies take advantage of the fact that one of the most dynamic, prosperous and stable markets in the world is on their doorstep.

    “As a region with a population in excess of 340 million, the opportunity the Eurozone presents to Irish business is enormous,” he adds.

    “Yet we are still merely scratching the surface. Despite the fact that the Eurozone has five times the population of the UK, it has less than two thirds of the exports from Irish companies.”

    Brexit has encouraged many businesses to see the Eurozone with fresh eyes, appreciative of the fact that it offers a single market, freedom of movement for people, goods and services, a single currency, regulatory alignment and zero customs barriers.

    “The Eurozone offers significant and untapped opportunities for Irish companies and Enterprise Ireland has developed a unique programme to help you take advantage of them,” says Browne.

     

    Market entry plan

     

    The five-month programme opens Europe’s doors to ambitious Irish exporters. It is delivered by ESMT European School of Management and Technology, Berlin, Germany’s number one business school.

    It is supported by IMS Marketing, seasoned providers of one-to-one business advice for those developing a European market entry plan.

    “In developing the programme, we recognised that while management teams know training is great, what they really want to know is what will it mean for their business,” says Browne.

    “So, at the end of this programme, each participant comes out with a clearly defined market entry plan bespoke to their business. It contains clear, practical steps which, if taken, will see them win contracts abroad.”

     

    Enterprise Ireland’s Eurozone team, based in market, then works with the client to help them to execute that plan, backed by its network of in-market expertise.

     

    Unique products and services sought

    Irish companies have unique products and services in an array of areas, including software, data centre systems, medical devices, and ag-tech.

    “We take for granted that our companies are exposed to US multinational companies without realising that it gives us enormous advantages in terms of experience, standards and service levels. Irish companies are already selling to the best in the world at home. That level of expertise and experience is sought all over Europe too,” he adds.

    Campion Pumps in Tipperary used the Enter the Eurozone programme to develop a market entry strategy for Italy.

    Its experience in pumping equipment led it to develop software that allows pumps to communicate with computers. It has hundreds of pumping station customers linked to its cloud-based server. What’s innovative about its solutions is that its software can work with anyone’s equipment, providing it with a valuable USP (unique selling point).

    Having a unique solution is hugely compelling, in any market, says Browne. “If I go to a potential customer in, say, the Netherlands, the first thing he or she will say to me is ‘Why should I buy from you, when I’ve five guys down the road I could go to? But when you go in pitching something that is innovative and unique, why wouldn’t they talk to you?”

    In Leitrim, Archway Products already had success working with local authorities in the UK, attracted by its highly innovative, cost effective and environmentally sound processes for fixing road defects.  The inventor of the Roadmaster Spray Injection Patching machine, which fixes all types of road defects, is now gaining traction in Germany too.

    Shamrock Farm Enterprises, a maker of equine and agricultural supplements, also in Tipperary, recently secured a distributor in France.

    Louth firm Aphix Software has developed an integrated suite of eCommerce and mobile ordering products.

    “Any solution that helps with stock control, and whose software helps you move online, is a pitch to which a lot of companies across the Eurozone are very open to now,” says Browne.

    Applied Concepts, Ireland’s sole manufacturer of CE approved blasting machines, has already developed an international presence, driven by innovations such as a compressed air machine that sits on a tractor and uses less carbon.

    “Ireland is already renowned for food, so if you are going to Europe and say your farm equipment is terrific too, people will listen,” says Browne.

     

    Start your export journey

    His message to innovative Irish businesses looking to start their export journey is clear.

    “Enterprise Ireland is very open to helping companies that want to export. We have a range of programmes and workshops to help, including Enter the Eurozone. Remember, it’s companies like yours that are doing this, so get in touch,” he adds.

     

    To find out how you could expand into the Eurozone, see our Enter the Eurozone Programme.

     

    Getting There: Strategies to promote gender diversity in business

    At Enterprise Ireland, we have long since recognised that one of the keys to optimising our start-up sector in Ireland is to boost gender equality in business.

    Diversity in business is vital to reflect our modern, global economy and create growing, sustainable companies. Extensive international research has shown that diversity increases innovation and creativity, while research from McKinsey & Co revealed that gender diversity leads to improved productivity and increased profitability.

    However, promoting gender diversity takes work. “Back in 2011, only 7% of our High-Potential Start-Ups (HPSUs) included a woman on the founding team,” says Sheelagh Daly, Entrepreneurship Manager at Enterprise Ireland. “Seeing this, we put in place specific goals and plans to increase this, and now, in 2020, 24% of our HPSUs have a woman founder.”

    While Enterprise Ireland is well known for its entrepreneurship supports for women, increasing gender diversity in business leadership is a relatively new objective. Towards the end of 2018, Enterprise Ireland embarked on research to look at the broader issue of women in business to assess the current situation in Ireland and to see what could be done to improve the situation. The research revealed some unsettling statistics: that less than 20% of CEOs were women, falling to 9% in larger companies; that Ireland had the highest gender gap in self-employment in the EU; and that less than 10% of venture capital funding was going to companies with female founders. The research led to the publication of the Enterprise Ireland 2020 Action Plan for Women in Business.

    “The plan has four objectives,” explains Sheelagh. “To increase the number of women becoming entrepreneurs, to increase the number of women founders in HPSUs, to increase the number of women-led companies growing internationally, and to increase the number of women in senior leadership positions in companies in Ireland. All these objectives are inter-connected, so to achieve one of them you need to achieve all of them.

    “We’ve set ambitious targets for ourselves – we’d like to double the number of women-led companies in the export market by 2025.” says Daly.

    Promoting female entrepreneurs

    While the figures have improved immensely over the past few years, it’s clear there are still some physical and psychological barriers that pose more of a challenge for women in business. For instance, women still bear the brunt of unpaid work in Ireland; in 2019, the ‘Caring and Unpaid Work in Ireland Report’ from the Irish Human Rights and Equality Commission and the Economic and Social Research Institute revealed that 45% of women provide care for children and older adults on a daily basis, compared with only 29% of men. Networking opportunities, mentors and the visibility of women leaders in enterprise have also been identified as important for women in business.

    “One of the initiatives we developed to address the barriers to funding for women founders is a women-specific call for the Competitive Start Fund (CSF), a fund for early-stage start-ups with the potential to turn into HPSUs, with specific CSF calls for women entrepreneurs. In 2020, 42% of the CSF projects awarded were led by female founders.” says Daly.

    “We also offer the ‘Innovate’ accelerator programme for women entrepreneurs which provides mentoring and a chance for women entrepreneurs to network and learn from each other.

    This is also what is done in Going for Growth, an initiative supported by Enterprise Ireland to offer peer support along with the mentoring piece from successful women entrepreneurs through interactive round table sessions.”

    “Another important initiative is the Part-time Key Manager Grant, which we introduced last year to facilitate the recruitment of part-time senior managers. The grant is available for both men and women, but aims to attract more women to senior management roles.”

     

    Accessible help

    While the specific female entrepreneur supports outlined above give gender equality a significant boost, a key aim at Enterprise Ireland is to make every programme accessible for all. For instance, the first stop for most entrepreneurs is Ireland’s network of Local Enterprise Offices (LEOs), with 31 offices in the country. The New Frontiers programme is delivered on behalf of Enterprise Ireland by Third Level Institutes in 16 locations around Ireland and helps entrepreneurs develop their business in readiness for further investment without significant financial risk.

    “We see really strong companies led by women at every stage of their journey,” says Sheelagh. “The supports are there, and we are really keen for more women to avail of those supports. I do believe that there are a lot of women with great ideas and the ability to put them into action; it’s then about the confidence to take that leap and use supports like the New Frontiers programme and aids from the LEOs. Those supports are there and can lessen the risk for both men and women when developing a new business.”

    “Through these initiatives, Enterprise Ireland seeks to address the challenges facing women in business and to inspire and accelerate the growth of Irish businesses by advancing gender diversity in leadership teams and excellence in our start-up sector.”

    A young man in a warehouse using his laptop to research his EORI number

    Customs – What is an EORI Number used for?

     

    The Economic Operators Registration and Identification (EORI) number allows businesses to import or export with countries outside the European Union. It is a unique reference number recognised by all EU member states and is a requirement on all customs declarations.

    First introduced in 2009, the EORI number is a common reference number for interactions with the customs authorities in any EU Member State. All Irish numbers are prefaced with the prefix IE and contain eight characters. It is closely aligned to your VAT number but requires a separate EORI registration with Revenue.

     

    Register for your EORI number

    To obtain your number, companies can register directly through Revenue. If you are already registered on Revenue Online Service (ROS), you can register within a matter of minutes. Once the registration is complete, the number is active immediately.

    If you believe that you already have one, this can be verified by simply checking the EORI number validation service. Insert your VAT number prefixed by “IE” and select validate.

    Revenue has support for companies that have questions about their process. Visit Revenue’s website for the relevant contact details.

    The New UK – Succeeding in a Changing Market

    The UK Market is evolving. Irish companies are demonstrating incredible resilience in adapting to a changing landscape and are now looking to the future. Join our webinar on February 11th at 9am ‘The New UK: Succeeding in a Changing Market’.

    During this webinar we will be joined by a panel of guests to explore changes underway in the UK and Ireland’s unique relationship with this major market on our doorstep. Panellists include:

    • Julie Sinnamon, CEO Enterprise Ireland
    • Adrian O’Neill, Ambassador of Ireland to the United Kingdom
    • Andy Burnham, Mayor of Greater Manchester
    • Steve Rotheram, Mayor of the Liverpool City Region

    The CEO of Simon-Kucher & Partners, a leading global consultancy specialising in top-line growth strategies, will share his insights on how to succeed in this new world and profit levers to consider.

    The webinar will also see CEOs from a range of Irish companies including Dublin AerospaceEI ElectronicsVRAIEPS, and Gifts Direct/The Irish Store, sharing their UK growth strategies – inspiring others with growth ambition.

    Register to view our on-demand webinar.

    Pricing Excellence – Pricing Study 2021 Webinar

    This Pricing Study was conducted by Enterprise Ireland in collaboration with Simon-Kucher & Partners.

    The study recorded nearly 500 responses with strong representation across all sectors demonstrating that the topic remains a high priority for businesses.

    This webinar presents the results of the survey along with guidance on how to develop and implement a price increase process.

     

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

    2021 virtual trade mission – Reaching a global audience

    In the not-too-distant past, companies wishing to establish a successful business relationship with firms overseas, would have relied heavily on international travel and perhaps an office or ‘boots-on-the-ground’ in the country in question.

    But these days, there is also another option as there are many international companies located across Ireland who are more than willing to do business with local businesses – and Gerard, Fenner, Senior Executive of Global Sourcing for Enterprise Ireland, says his team can help to bring Irish SMEs and multinational firms together.

    “The combination of modern technology and accessible travel has made the world a much smaller place and opened up a myriad of global opportunities for Irish businesses,” he says.

     

    Enterprise Ireland and IDA Ireland collaboration

    “But travelling to or even selling out of this country isn’t the only means for companies at home to expand into the international market as there are hundreds of multinationals right here in Ireland, which are willing and able to engage with indigenous firms. Since its formation in 2012, the Enterprise Ireland Global Sourcing team has been working with colleagues in IDA Ireland to introduce Irish owned businesses to international firms to respond to their specific requirements.

    “Working with companies across every sector, including pharma, medtech, ICT, engineering, financial services and energy, our team helps to develop relationships between Irish companies who are seeking to sell their product or service and multinational firms who wish to purchase same – so our particular focus is on providing sales opportunities and partnerships between Enterprise Ireland client companies and Ireland-based multinationals, predominantly IDA firms.”

    According to Fenner, there are many benefits to both the seller and the buyer in these business relationships and apart from supporting industry at home, it can also lead to opportunities in export markets – and winning a contract with a multinational gives a scaling Irish company a valuable reference site for its move into export markets.

    “We have found that one of the most productive means of securing relationships between Irish firms and multinationals based here is by means of events where introductions can be made, and sellers can have pre-arranged face to face meetings with potential buyers,” he says.

     

    Developing international relationships

    “In 2014 we organised the first Trade Mission in Ireland. The event was minister led and took place in various regional locations across the country over the course of a couple of days – and since then, it has taken place every year, apart from 2020, due to lockdown restrictions. It has always garnered a lot of interest and helped to develop contracts and future relationships.”

    So it seems that trade missions have long been an effective means of introducing businesses to prospective clients, but since the onset of the pandemic, industry across every sector has had to pivot online and learn how to do business in a virtual world.

     

    Online introductions and meetings

    As current guidelines continue to prevent physical events of this nature taking place, this year, on May 12th, the first ever virtual Global Sourcing Trade Mission became the alternative.

    Launched by the Tánaiste and Minister for Enterprise, Trade and Employment, Leo Varadkar, the event proved as popular as ever with 65 multinationals and 240 Irish companies registered with over 350 meetings. And according to Gerard Fenner, the online system was popular with both the variety of different international firms and indigenous companies looking to set up new business relationships.

    “When the Enterprise Ireland companies registered on the event platform, they provided some company information about what they do and what their offer is, and this allowed suppliers to search through this information and put in a request for a meeting,” says the international trade expert. “Similarly, the supplier was also able to request a meeting with a buyer in order to pitch a product or service.

    “Although these 15-minute meeting slots were different to how things normally work at a physical trade mission, it proved to be very successful with feedback from both sides indicating their positivity – and early signs show the possibility of new business relationships and further revenue to add to the €32 million in contracts which have been secured from these trade missions.”

    The Global Sourcing Team lead says there was also the added positive bonus of no travel, which meant that the multinational could bring in individuals from different areas of their business to meet potential suppliers – so rather than just one representative attending the event, firms could bring in someone from finance or with technical expertise to liaise directly with companies pitching a particular service.

    “Overall it was a great success and we have run smaller online events similar to this over the past year and many multinational firms have come back to us to say they were impressed with the fact that they got to meet so many different businesses,” he says.

    “So, the trade mission, whether it takes place at a venue or online, is an important platform for raising awareness about the capabilities of innovative Irish SMEs and helping them to establish future business relationships. And given the interest in this year’s event, despite the difficulties surrounding the current global situation, the future looks bright.”

    The Climate Enterprise Action Fund: helping firms to boost low-carbon agendas

    The Climate Enterprise Action Fund is a new initiative that was recently launched by Tánaiste Leo Varadkar and Minister Eamon Ryan with an initial allocation of €10m. The fund, which will be administered by Enterprise Ireland, is designed to help businesses take action to drive down their emissions and embed sustainability in how they work.

    Aidan McKenna, manager of the Climate Enterprise Action Fund at Enterprise Ireland, says the fund is one of a number of actions underway to ensure that Ireland reaches its ambition of reducing emissions by 51% by the end of this decade.

    “The fund builds on work Enterprise Ireland is already carrying out with companies throughout Ireland,” says Aidan. “We know the initiatives that work well and embed change in companies.”

     

    Low-carbon future

    Reducing emissions will contribute to a more sustainable future for us all. However, along with the moral and political imperative, there is a very strong business case for Irish companies to adopt a low-carbon, sustainable agenda. One of the most important emerging market demands today is the need for companies to demonstrate their commitment to low-carbon production and sustainable business processes. It is vital that these companies are responsive to emerging market conditions.”

    “Many Irish companies sell products and services to larger, international companies at home and abroad. Increasingly, these companies are requiring suppliers to have sustainability at the core of their operations. A failure to show real progress can lock you out of the market.

    “Likewise, many consumers are placing environmental standards at a premium when making purchasing decisions. Issues such as using recyclable packaging, adhering to international sustainability standards and having transparent supply chains are now important factors for more and more consumers. Those that don’t change will miss out on the significant opportunities emerging from the low-carbon transition and risk being left behind.”

    Aidan McKenna says another important factor is that investors and capital funds – which are critical to start-up and growing companies – increasingly factor in environmental impact into their investment decisions.  “What is termed ‘green finance’ is now a reality and will shape investment decisions into the future,” explains Aidan.

     

    Climate Enterprise Action Fund

    Enterprise Ireland’s new Climate Enterprise Action Fund is designed to assist companies at various stages of engagement with this agenda. It comprises of three main offers:

    • Climate Action Voucher – a €1,800 grant to engage consultants to develop plans in areas such as resource efficiency and renewable energy.
    • GreenStart – up to €5,000 to measure carbon footprint and identify ways to reduce emissions and operate more sustainably.
    • GreenPlus – a fund of up to 50% to develop a multi-annual climate change plan aligned to international standards and frameworks.

    “The first two offers are driven by the principle of ‘what gets measured gets done’,” explains Aidan. “Establishing a baseline of current resource consumption and emissions profile is essential to begin a change process. These offers will be particularly attractive to companies beginning their low-carbon journey. The third offer, Green Plus, is aimed at companies further along the journey align to international standards and frameworks.”

    The Local Enterprise Offices (LEO) network has also recently launched a new scheme, called Green For Micro, designed to help smaller companies prepare for a low-carbon, sustainable future. With the help of a Green Consultant, small businesses with up to ten employees can get free advice and technical support on resource efficiency, how to better understand their carbon footprint and how to implement an environmental management system to reduce costs and lower greenhouse gas emissions.

     

    Driving change

    “We are acutely aware of the pressure that companies have been under facing up to the impact of the Covid-19 pandemic and our fundamentally changed trading relationship with the UK. While companies see the value in adopting more sustainable processes in principle, finding the time and resources to dedicate to that mission can be difficult. That is why our new initiative is designed to provide companies with tangible baseline information and a route map of what a low-carbon, sustainable future looks like for them. Having the low-carbon concept broken down into achievable actions makes the journey all that more realistic and the business wins all that more attainable.”

    “The global trading environment is tough and competitive,” says Aidan. “To succeed, companies need to think not just about the next order, but about how their sector will develop in the next five to ten years. Environmental sustainability and responsible production will be key drivers of business success into the future. Now is the time for all Irish businesses to prepare for that future.”

    To get your business ready for a green future visit Climate Enterprise Action Fund or contact the Climate Action Team

     

    UK Super Deduction: How it affects your UK customers

    As part of the 2021 UK budget, the British government has introduced the largest tax incentive on plant and equipment capital investments in their history.

    This incentive, known as the super deduction, allows UK companies to claim 130% capital allowances on qualifying plant and machinery investments. This is an increase on the 18% ordinary relief prior and came into effect on 1st April 2021 running until the end of March 2023.

    Alongside the super deduction, the UK government also introduced a 50% first year allowance (FYA) on for special rate assets until 31 March, up from a 6% allowance previously. These changes make the UK capital allowance regime more internationally competitive, lifting the net present value of UK plant and machinery allowances from 30th to 1st in the OECD.

    What does this mean for you and your UK customers?

    This incentive reduces the effective cost of equipment for UK manufacturers, thus making plant and machinery investments more attractive.

    For example, under current rules, if a company invests £100,000 in a piece of equipment they can write off the cost of that equipment against their tax bill. i.e. Since 19% of £100,000 is £19,000, the effective cost of their equipment is £81,000.

    With the new super deduction, you can write off 130% of your investment in “plant and machinery” against your tax bill. i.e. 130% of £100,000 is £130,000, which at the 19% corporate tax rate allows you to write off £24,700. This means the effective cost of your equipment is now £75,300. Therefore, companies are incentivised to move forward or make additional capital investments.

    This is necessary as investment has dropped significantly due to the pandemic in the UK which was on top of historically low business investment relative to the UK’s peers. Chancellor Rishi Sunak reiterated this need for increased investment “With the lowest corporation tax in the G7, we need to do even more to encourage businesses to invest – for decades we have lagged behind our international peers”.

    It is expected that these incentives should act as a catalyst to the return of capital investment in the UK post pandemic with Stephen Phipson of MAKE UK (The UK manufacturer’s association) stating that the super deduction should “turbocharge investment”.

    For many manufacturers in the UK investment cycles have stalled or been delayed due to Covid-19 and Brexit and may now be looking at capital investments for the first time in several years. According to a MAKE UK survey following the budget announcement, almost a quarter (22.6%) of manufacturers stated plans to increase investments in response to the super deduction. Furthermore, 28.1% of those surveyed said they will bring forward planned investments in response.

    This indicates the impact that these incentives will have on investments in 2021 and beyond, potentially making your customer base more receptive to your offering.

    This is one of the first major supports brought in for manufacturers since the UK industrial strategy was axed earlier this year and it is expected that there is further supports to come for UK manufacturers. There has been calls for an overarching plan for business to replace the industrial strategy, bringing together policies around sustainability, skills and trade, but it is uncertain whether such a plan will be put in place.

    Nevertheless, the introduction of incentives like the super deduction are sure to be welcomed by manufacturers in the UK and Irish companies should ensure they are up to date with any supports their customers may be receiving for their product/service. To learn more about Tax super deduction visit www.gov.uk.

    Stay up to date with Enterprise Ireland UK on LinkedIn or get in touch here.

    Net Zero webinar - How, When & Why

    Net Zero UK – Why, When and How – Webinar

    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

     

     

    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