Market Watch Germany – Webinar – Covid-19 challenges and market sentiment

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Market View Germany

Enterprise Ireland’s offices in Germany have launched a series of Webinars; Market Watch Germany, to help Irish companies exporting to Germany navigate the challenges and opportunities presented by Covid 19.

The first webinar on Friday April 3 looked at overall market sentiment and the German Government support package for companies facing acute difficulties in light of Covid-19. We were joined by market, legal and tax experts from Germany Trade & Invest, SHWP Tax & Law and MHL Law.

 

Marina Donohoe

Market Watch – A view from the UK, Central & Northern Europe

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There is no doubt that COVID-19 is making its presence felt with businesses across the globe feeling its impact and Marina Donohoe, Regional Director, UK, Central and Northern Europe, says Enterprise Ireland clients in the region are no different.

 

Key Takeaways:

  • Great uncertainty on how deep the recession might be and its length makes it a particularly challenging time for Irish industry. 
  • Restriction of movement is causing further issues for Irish exporters.
  • Prepare for the upturn – invest in client and partner relationships to secure existing business and research potential new opportunities to emerge now and post the crisis.

 

“Restrictions on movement of people is impacting on clients’ ability to respond to customer and partner needs,” says Donohoe. “Market confidence and demand has been eroded, and deals are being lost while fund raising plans have been curtailed or stalled. There is great uncertainty on how deep the recession will be and how long it will last, and this makes for a particularly challenging time for Irish industry.

“Enterprise Ireland has eight offices across the region which are working closely with clients on a one-to-one basis to support them throughout this difficult period focusing on sustaining existing and securing new business where possible.” says Donohoe.

 

Strengthening partnerships

Donohoe says it’s vital for companies to stay connected by keeping abreast of what is going on, exploring the possibilities of virtual business and continuing to invest in client/partner relationships.

“It’s a time to listen and learn about the problems your clients are experiencing and how together you may find potential solutions which strengthen your partnership,” she says. “But also, it’s important to exercise caution when extending credit, especially when your business partners are relatively new, and you’re not familiar with their current liquidity position.

“So, I would encourage companies to actively research the marketing issues their clients are facing, seek out information on the current situation from trusted sources like the WHO or local government departments. And continue to invest in marketing because while industries globally are in crisis mode, they are still seeking solutions to trade so with heavy restrictions on travel, focus on virtual meetings and as a means of engaging prospective new customers.”

 

Global supports for business

While it is undoubtedly a difficult time in business, the regional director says there have been many supports put in place across UK, Central & Northern Europe and Russia.

“A variety of measures have been adopted by the British and other European governments,” she says. “Each country is offering a range of specific supports including loans, wage subsidies or guarantees and these may be relevant for Irish companies with a presence overseas. OECD provides a regularly updated Country Policy Tracker to help navigate the global policy response and provides information on travel, border crossings and general health advice.

 

Key sectors facing challenges

“Many sectors are severely impacted such as the tourism and hospitality trade, personal and professional services and certain areas of the financial and manufacturing sectors.

“Transport is also a major concern and although some countries (e.g. UK and Sweden) have not closed their borders, many others have created temporary regimes which are causing problems for road deliveries – logistics details can be found here.

With all these added complications, doing business can be difficult for Irish exporters and Enterprise Ireland is currently preparing sectoral market insights which will be shared with clients and updated weekly to provide view on market conditions, government supports etc.  Details on public sector contracts and offers can be seen on this platform and also on the GOV.UK site.

 

Opportunities for growth

Donohoe also says there are still opportunities for growth but in a few core sectors:

“The healthcare, pharma, digital services and medical device sectors are still experiencing growth and Enterprise Ireland has been fielding requests for solutions in this area,” she says. “Similarly, solution providers for retail, BPOs, food production and office solutions may also see some growth.” 

“As markets and sectors emerge from this crisis with expected fundamental shifts in consumer/business needs it is a time to also prepare for these changes. Ireland’s SMEs have demonstrated resilience and flexibility by adapting to Brexit challenges and a global recession so remaining agile will be an advantage”.

No-one knows when the crisis will be over, but Donohoe says it’s vital for Irish exporters to stay connected and prepare for the reopening of markets.

“Utilise all digital tools to deepen relationships and promote your business,” she advises. “Prepare for the upturn to secure existing business and research potential new opportunities to emerge now and post the crisis.

“Business and consumer demand will change so investment in research, new idea validation, competitor analysis and the development of strong market development plans will all position Enterprise Ireland clients for the next global economic growth cycle.  Enterprise Ireland’s executives across the 8 offices in UK, Central & Northern Europe are on hand to support you through this exceptionally difficult and unprecedented period.”

Marina Donohoe is Enterprise Ireland’s Regional Director for the UK, Central and Northern Europe. To learn more about the steps companies can take to address the impact of Covid-19 visit our business supports page.

remote working

9 innovations in the era of remote working

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While the way we work has been evolving significantly in recent years, the Covid-19 crisis has accelerated the need for many people to work remotely. And during this seismic global shift, Irish talent technology is helping thousands of employees and employers to transition from working at their office desks to their kitchen tables.

Ireland’s progressive, globalised tech sector has cultivated a particularly innovative group of talent technology companies. Their smart, disruptive products and services are enabling companies around the world to attract, engage, manage, and retain their workforce in these uncertain times.

 

Supporting employees

While remote working had become common in certain sectors, especially those in which skilled talent is in high demand, it’s new for many companies. They need to quickly implement new technology to ensure their employees can adapt and continue to be productive while working from home.

Talent tech is enabling home-based employees to engage with colleagues, maintain their wellbeing while in a new routine, and upskill at home through online courses.

 

Benefitting employers

Meanwhile, employers can use Irish-built tech stay in operation, keep their workforce engaged, and manage, schedule, and pay their employees while the latter work remotely.

While some industries will see temporary workforce reductions, those such as health, retail and other frontline industries will need to hire more people fast. Talent tech can provide them with remote technology for sourcing and interviewing potential employees.

 

How Irish talent tech firms can help

These nine Irish companies offer disruptive technologies businesses can use to manage how employees work as they navigate these turbulent times.

1. Wellola

With healthcare systems under huge pressure due to coronavirus, optimising care capacity is crucial. Wellola has collaborated with the Irish public health services provider, the Health Service Executive (HSE), to launch a new online portal that enables GP and healthcare providers to treat people remotely so as to protect themselves from Covid-19.

2. Abodoo

As the world turns to remote working, Abodoo is there to connect global citizens with remote jobs. With 23,000 members across more than 60 countries, Abodoo’s SaaS platform uses smart matching technology powered by data analytics to match people to roles. This means companies can build highly scalable distributed teams quickly and cost-effectively.

3. Sonru

With in-person interviews on hold for now, recruiters must turn to virtual solutions. Sonru is an award-winning global leader in asynchronous video interviewing, which gives both candidates and interviewers flexibility. Importantly, it also removes pain points such as interview scheduling, time zone restrictions, dispersed hiring teams, and time lost on no shows.

4. Peptalk

To thrive and survive, companies need to promote a high performance culture. PepTalk is a workplace wellbeing platform that drives team engagement, productivity and connection across organisations in a fun way. Peptalk’s ‘whole person performance’ approach unlocks employee potential, helps companies to reimagine their work cultures and delivers bottom-line results.

5. Workvivo

During times of crisis, internal communications are critical for engaging and reassuring employees. With the Workvivo internal comms platform, employees can read and post content to an activity feed, and like, share and comment as they would on non-work social media. They can also recognise others through shoutouts, link posts to company goals and values, create community spaces, and publish articles and events.

6. FlexTime

Especially now, employers need to be able to manage flexible working arrangements and the changing needs of their employees. FlexTime offers flexible working, time and attendance, and scheduling solutions. Its products, which eliminate the need for manual tracking, are used by over 400 customers, in more than 5,000 implementations for over 200,000 users.

7. PulseLearning

Now more than ever, it’s vital to protect employee mental health and wellbeing, and promote self-care. PulseLearning, an award-winning, global top 10 learning company founded in 1999, developed the I Am Here programme to facilitate a cultural change within organisations so team members know it’s absolutely OK to ask for help and how they can.

8. Flexiwage

Managing finances can be challenging at the best of times. Flexiwage, which integrates with existing payroll packages, empowers employees and employers to make smarter financial decisions. Employees gain a fully flexible pay schedule, getting paid when it’s best for them, while employers can consolidate payroll, reduce costs and promote financial responsibility.

9. LearnUpon

It’s still vital for employees to learn and train while they work remotely. LearnUpon is a powerful learning management system (LMS) platform with a practical approach. Organisations can use it to manage, track, and achieve their learning goals. Trusted by over 1,000 customers worldwide, LearnUpon is one of the fastest growing LMSs in the world.

Anne Lanigan Enterprise Ireland

Market Watch – A view from the Eurozone

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Anne Lanigan, Director of the EurozoneThere is no doubt that the impact of COVID-19 on mainland Europe has been profound with most countries operating on a skeleton crew of essential businesses and services. However, Anne Lanigan, Regional Director, Eurozone, for Enterprise Ireland, says goods are still moving and it is possible to do business.

 

Key Takeaways:

  • The situation is evolving daily and the 45 strong Enterprise Ireland team on the ground in the Eurozone are working and available as normal, albeit remotely to be of assistance.
  • Business is still moving although slower, particularly in the Medtech, Pharma, Construction, Food, eCommerce and other services sectors.
  • The innovation, flexibility and commitment of Irish companies will help them survive this crisis.

 

“A lot of sectors have been very badly hit, particularly in the hospitality, aerospace and automotive sectors,” she says. “High tech construction of pharma facilities and data centres is still continuing, with some challenges in Germany and the Netherlands. Pharma, Medtech and Food still continue as best they can, and we have good examples of clients in the technology, eCommerce and employee engagement sectors who are experiencing growth. However, for many sectors things are likely to get worse before they get better.”

“I would encourage Irish exporters to make contact with customers, partners and distributors. Communication is crucial at this point. Getting an understanding of the situation your customers are in will help you in forward planning and may help you to deliver an immediate or different solution. In addition, the contact you make now will be appreciated and remembered once we are over this crisis.”

Speaking to customers over the telephone or in a virtual meeting, rather than by email, will offer a much better opportunity to engage and get insights into their situation, what their future plans are and how you might feature in those future plans.

Depending on staff availability and the level of slowdown, Lanigan says some businesses may be able to use this time to build their export capability.

“This could be an opportunity to do market research, a very important element of successful exporting” she advises. “This crisis is temporary so fundamentally it’s still important to validate markets and sectors for your products and services, carry out competitive analysis, build a pricing and communication strategy and develop a strong market development plan.

Doing an online language course for an hour every day might also be a welcome break away from home working while also building up a necessary skillset for exporting to Europe.”

The Eurozone director says there are many supports available to Enterprise Ireland clients as well as government supports available to all companies. These can be found on the Enterprise Ireland Covid-19 business response pages and new supports will be added as soon as they become available. Specific market supports such as the Market Discovery Fund are of course still all available. And Eurozone Market Advisors can provide specific information on supports available locally in their markets.

“Alongside the obvious market challenges, we are seeing a number of other challenges. Our clients are in some cases finding it difficult to engage with customers who are busy trying to resolve their own internal problems,” she says. “Movement of product is also more complicated as extra paperwork is required in some locations. It’s also difficult to get clarity regarding the movement of people as the situation is evolving. However, we continue to assist client companies in meeting buyers (virtually), and we are seeing business deals– it’s not anything close to normal but it is still moving.”

“In addition, in every crisis there are opportunities. Irish companies are typically highly innovative and are quick to pivot. Our clients are known for their flexibility and can change focus quite quickly so there is the possibility to adapt products and services to win business in new markets and new sectors.

Lanigan says the key to surviving this crisis is to stay close to customers, demonstrate flexibility, and be innovative:

“Markets will start to open again so we need to ensure that we are ready to get going when we come out of this crisis.”

“Enterprise Ireland Market Advisers are available to help. Our team across the Eurozone are working remotely and contactable by phone or email for one-to-one support. Our priorities are to respond to particular requests from clients and to proactively support clients to continue to do business. In addition to supporting contact with customers, distributors and partners, Market Advisors can also provide advice and help with local market knowledge on the evolving situation and help deal with particular issues as they arise. If you haven’t had recent contact with your Enterprise Ireland Market Advisers please get in touch with your Development Adviser who will make the introduction.”

“Irish companies are known across Europe for being innovative, flexible, easy to work with and committed. These characteristics will stand to us and help us through this difficult period.” says Lanigan.

 

Portwest – targeting new markets with GradStart

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GradStart

 

“Bringing linguistic graduates onboard allowed us to bring in talent that could research Spanish and French speaking territories, and open opportunities for our sales teams, which contributed to our target of 20% growth.”

Deirdre Clarke, HR Manager, Portwest

Overview:

  • Portwest is a market leader in the design and manufacture of stylish, comfortable, high-quality workwear that meets recognised international standards.
  • With customer support staff in over 120 countries, the company used Enterprise Ireland’s GradStart initiative to attract fresh graduate talent with French and Spanish language skills to research new markets and drive business activity.
  • The GradStart programme offers salary support of up to 70% for the employment of graduate talent to assist companies when expanding into new markets.

 

1. What attracted you to get involved in GradStart?

We are very fortunate to have a great Development Advisor (DA), who consistently keeps us informed of programs which may be of benefit to our specific business. As we had already taken part in the similar G4IG program, we felt that GradStart would be another fantastic initiative from Enterprise Ireland to help with the development and international growth of our business. At that time we were also in the process of developing a formal Portwest Graduate Program. The timing was ideal for us as GradStart gave us the additional option of introducing a linguistic element to this program.

 

2. What did GradStart allow you to do that you wouldn’t have done otherwise?

GradStart allowed us to provide opportunities to newly qualified graduates at our headquarters here in the West of Ireland, and to include a linguistic dimension to our commercial team which up to now was 100% English speaking. We now have two talented graduates with French and Spanish capabilities who are able to help us explore new market opportunities In particularly across South America and Mexico.

 

3. What challenges and/or opportunities did GradStart help you address?

We had struggled with the exploration of non-English speaking markets. Bringing linguistic graduates onboard allowed us to bring in talent that could research Spanish and French speaking territories, and open opportunities for our sales teams, which contributed to our target of 20% growth. In turn, this allowed us to provide further job opportunities in these regions as we were able to justify the recruitment of sales staff to follow through on the opportunities identified by our graduates.

 

4. Which areas of the business did the graduate contribute to?

Market research and explorative work in heretofore unexplored territories. This is ongoing and while GradStart partially funds the salaries for such graduates for a two year period, we would envisage the continuation of such due to the success of these roles and how the program helps contribute to Portwest’s growth.

 

5. Were there any learnings from your participation in GradStart that you have taken forward into your business.

We have learned that only hiring experienced staff with x years’ experience in x industry can be limiting. Hiring graduates with their fresh approach and up to date knowledge of their areas of expertise can truly contribute in a meaningful way to our corporate goals. Furthermore, the satisfaction of being able to bring these graduates straight from college to management roles within such a short space of time is highly rewarding for any employer. We currently have graduates in managerial positions in our sites in Australia, USA and HQ and will look to add Europe and the UK to this as part of our 2020 Graduate program.

 

6. Would you recommend GradStart to your business peers? If so, why?

This is a fantastic way to introduce a graduate program to your company if you do not already have one. We had previously brought in graduates on an ad hoc basis, but between G4IG and now GradStart, this meant that we were able to formalise a program and become confident in our offering. This is a fantastic opportunity for any graduate looking to kick-start their career and with Enterprise Ireland funding, it is wonderful that businesses can get involved in such a great initiative.

 

7. Which languages were the graduates skilled in?

French and Spanish.

 

8. Have you stayed in touch with the graduate?

Yes – our graduates are still with us as they joined us in September 2019 for a two year period. One graduate will remain on site here at Portwest HQ while the other, following an initial training period at Portwest headquarters, has now relocated to our Kentucky office where they will continue to work with our Sales, Commercial and Marketing teams on exploring new markets. We see this as an ongoing project now, and a model which we would hope to continue after our current GradStart program is complete.

Learn more about GradStart and how it can support your business growth.

Dmac Media Director of Sales

Dmac Media – attracting new talent with GradStart

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“Tech graduates are highly desirable and form a key part of our growth plans.  We had issues competing for that talent and GradStart allowed us to offer a much more attractive package to graduates.”

Dave McEvoy, Sales Director, Dmac Media

Overview:

  • Dmac Media is a web design agency offering a full suite of web solutions including web design, eCommerce platforms, content management and digital marketing.
  • With offices in Dublin, Sligo and Cork the company used Enterprise Ireland’s GradStart initiative to attract fresh graduate talent and drive business activity.
  • The GradStart programme offers salary support of up to 70% for the employment of graduate talent to assist companies when expanding into new markets.

1. What attracted you to get involved in GradStart?

Tech graduates are highly desirable and form a key part of our growth plans.  We had issues competing for that talent and Enterprise Ireland‘s GradStart allowed us to offer a much more attractive package to graduates.

 

2. What did GradStart allow you to do that you wouldn’t have done otherwise?

Bringing in fresh talent to our business allowed us to focus more heavily on business development as a daily activity rather than a paper based plan.

 

3. What challenges and/or opportunities did GradStart help you address?

With qualified personnel we had lower training and induction costs this allowed us to keep up in a fast paced sector in a sustainable way.  The challenge (as always) was finding the right graduates.

 

4. Which areas of the business did the graduate contribute to?

Our graduates have broadened both our technical skillset as well as our graphic design and process management skills.  The impact was noticeable from day one.

 

5. How did participating in GradStart impact your business positively?

GradStart gave us a headstart on developing new products which in turn has brought our entry into new markets considerably closer.

 

6. Were there any learnings from your participation in GradStart that you have taken forward into your business?

We have evolved from a company with very standard and fixed methodologies to one that is now willing to experiment and develop better strategies.

 

7. Would you recommend GradStart to your business peers? If so, why?

Yes, it gives you time to focus on the business rather than just working in the business.

Learn more about GradStart and how it can support your business growth.

Why ‘no’ is the most common word used in French business

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France is the most visited tourist destination in the world. Almost 83 million visitors a year make the trip to one of the most culturally rich and diverse countries in the world – and it’s easy to see why.

But visiting as a tourist, as many Irish people do, only scrapes the surface of the French psyche. How France deals with visitors is not always the same as how French business is conducted and it is important to discern the difference.

Irish business culture has evolved into an open, often informal and flexible solution-based environment, driven both by Irish innovation and the requirements of multinational partners. Given that we are an export-driven economy, we are outward facing by default and used to finding bespoke solutions.

 

How French business culture differs from Ireland

It could not be a more contrasting picture in France. French business culture can appear formal to the point of excess, governed by layered hierarchy and tiered bureaucracy.

Combined with French pride in putting their native tongue foremost, it may appear, at first, a difficult cultural barrier to overcome.

At Enterprise Ireland’s most recent Ambition France event, Irish exporters shared first-hand experience of French business culture.

By following the well-trod path to the UK, the US and the English-language friendly Benelux regions, Irish firms could be missing out on opportunities to break into one of the world’s richest countries. France remains a €2.5trn economy, with consistent growth. It is the world’s seventh-largest economy and the third biggest in the Eurozone.

However, for an Irish business keen to enter France, who has done its market research and established its product fit, it will soon become clear why the formality and ‘red tape’ exists.

France loves detail. Bureaucracy is there to establish – and protect – quality. Rather than act as a barrier for entry to the market, it levels the playing field for all competitors. It also means negotiations can be lengthy, and unlike the transactional price-based nature of, for example, the Netherlands, quality and attention to detail will be weighted highly in French business.

“It can seem bewildering,” Michael Stack, Managing Director of Tricel, the Killarney-based composites manufacturer told the conference. 

“But the rules are applied fairly and squarely. No-one is trading within our market outside of the regulatory system. It’s not just a rules-based country, it’s a rules-based country where rules are enforced. That makes it fair for everyone.” says Stack.

 

How to do business in France

It’s why, when doing business in France, one of the most common words heard in meetings will be “Non”. This is not a negative but actually the first step on the road to “Oui”. “Non” forms the basis of a discussion with your intended partner or client that will deal heavily with specifics and navigating French regulatory compliance.

“No doesn’t always mean ‘no’,” Nicola-Marie O’Donovan, Senior Agile Coach from BlaBlaCar, told delegates. “It will likely be the start of a conversation. In Ireland, we tend to say ‘yes’ too quickly. In France, an argument is usually the precursor to a discussion.”

 Formality must not be disregarded, even in looser cultural environments, such as the tech sector. Resist the urge for small talk and never ask personal questions unless invited to do so.

Within French organisations, it would be expected to inform senior figures ahead of team members of developments, even if it would seem to be non-essential information. Protocol matters.

Language skills will be mandatory if an Irish firm is to deal successfully in France or deal with French business partners. French is preferred and having a native French speaker on staff sends a very strong signal of your intent. It is quite normal to have a presentation deck in English but the discussion in French.

Do not underestimate French pride in their language. Make the effort to have marketing and web material accurately translated, preferably by a native French speaker.

“We went to a trade show early on in our venture in France and set up our display with our banner in French but it contained a grammatical error. Every single person who walked by our stand stopped and pointed it out,” Stack told the conference.

 

Get support from Enterprise Ireland

Language can be resolved, of course, with key hires and outsourced translation. Enterprise Ireland’s own GradStart programme will part-fund salaries of individual graduates with a language qualification in the key market helping to get your own boots on the ground in-country, something the French value highly.

Being there matters, agreed Eoin Licken, the Grenoble-based Commercial Manager of Tekelek:

“There is often surprise when a prospect sees me ringing on a French mobile, in French, and you can see the change of tone in the conversation as a result.” Eoin Licken explains.

If your product fit is right for France and you are prepared to adapt to French culture, be prepared for a rewarding foray into the market, said Stack. He added: “If you a want a market where you can compete, where quality is valued rather than cost, then you should seriously consider doing business in France.”

team discussing market research plan

Access premium business intelligence reports with the Market Research Centre

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The main ways client companies can utilise the Enterprise Ireland Market Research Centre

 

If you are interested in entering a new market or diversifying into a new sector, Enterprise Ireland’s Market Research Centre can help. Read how you can best use this Enterprise Ireland support.

Conducting market research can help to reduce business risks and assist your company to map out its journey to growing exports. To support client companies, Enterprise Ireland has invested in access to premium business intelligence databases in Market Research Centres in Dublin and eight regional hubs.

But how can you best access the Market Research Centre? Follow these five steps to make the most of your time there.

 

  1. Create your research objective

First, consider what the information you need will be used for and in what type of resource it is likely to be found. Resources provided by the Market Research Centre include:

  • Market reports
  • Country reports
  • Industry and sector reports
  • Company listings for lead generation
  • Trend forecasts
  • Journal articles

All of this information and research is provided by respected publishers and can only be accessed by clients within the Market Research Centre. The Centre’s information specialists work with a range of providers to ensure your company has access to the most up-to-date knowledge available. Once your research objectives are clear, then you are ready to take the next step.

 

  1. Explore the databases online

Get a sense of the databases you would most like to access at the Market Research Centre online before you make an appointment. You can even search for specific report titles here. By preparing in advance, and checking in with the Market Research Centre before your visit, you can ensure that relevant material is available when you need it and that your time is spent efficiently.

 

  1. Book an appointment

Contact the Market Research Centre to discuss your research request and to arrange a visit to the main centre in Dublin or to any of the eight regional office hubs. Currently there are facilities in the following Enterprise Ireland regional offices: Athlone, Cork, Dundalk, Galway, Shannon, Sligo, Tralee and Waterford.

To book your appointment, contact:

Phone: (01) 727 2324

Email: market.research@enterprise-ireland.com

Opening Hours: Monday-Friday, 9am-5pm.

 

  1. Stay up-to-date and social

The Market Research Centre blog is the best place to find the latest information about resources. This includes the most recent reports available to Enterprise Ireland clients, arranged into categories that are easy to search. From country-specific reports to individual sector research and Brexit-focused news, visiting the blog regularly will give you a sense of the breadth and depth of research and information available to consult during your visit.

You can also follow the Market Research Centre on Twitter to stay up-to-date with its latest news.

 

 

  1. Get guidance from information specialists

One big advantage of using the Market Research Centre is that you’re no longer alone. The Centre’s knowledgeable information specialists are readily available to guide you towards the most relevant reports and databases for your needs. The Market Research Centre’s information specialists can also help you to determine which reports are most relevant to your needs, or assist you with developing a plan of action on which sector or country you should start researching.

Conducting the right market research is vital for businesses to maintain their competitive edge and enjoy successful export growth. With Brexit a reminder of the importance of diversifying and discovering exciting new export opportunities, get the right support from Enterprise Ireland’s Market Research Centre.

GradStart

5 ways GradStart can help you to attract and retain graduates

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Talent is one of the business world’s most valuable resources. The ability to attract, recruit and retain, ambitious, highly skilled employees is a must for every Irish company aiming for success in exporting markets.

Irish companies with the ambition to grow exports, will benefit from developing a competitive edge to attract the motivated and highly skilled talent they need. Enterprise Ireland’s GradStart offers just that. In addition to financial support, GradStart provides invaluable guidance on how to attract, retain and build long-term relationships with graduates.

Here are five ways GradStart can help you.

 

1. Know your strengths

Competing for top talent can be difficult for SMEs, due to competition for skills in the marketplace. In some cases, smaller businesses can also lack a dedicated department to focus on skills attraction and promoting the company brand. However, it’s important for Irish companies to develop a talent attraction strategy and articulate the strengths that make them attractive employers for many graduates.

Helen McMahon, senior executive for Client Skills with Enterprise Ireland, comments:

“There’s something really exciting about working for an SME. Employees have access to more business areas than they might in large multinationals, where roles are often strictly defined. Graduates get the opportunity to work with senior management teams, have more exposure to a range of processes and systems, and the potential for more responsibility at an earlier stage in their career development. Above all, there’s a chance to really make a difference in a smaller company.”

Accessing GradStart helps companies to gain confidence and expertise in these benefits in order to market them to the highly skilled people that can help their business to reach the next level.

 

2. Define the role

Be clear about the skills your company needs and remember that it should include both hard and soft skills. Hard skills include technical expertise and knowledge of a particular system or a way of working. Soft skills, such as the ability to build relationships; work as part of a team, manage people effectively, and creative problem solving, are just as important.

Helen explains: “To apply for GradStart, a company needs to have defined a specific role for a graduate, and there must be an underlying business case for the role.”

For example, a company may want to attract a graduate with specific skills attached to a particular project. Not only must the company be clear in their GradStart application about why those skills are needed, but it should also be clear on the importance of the project to the company’s overall development and export growth. Clarity on the job role and project will make your company more attractive to discerning potential employees.

 

3. Build a career path

Bright ambitious candidates are interested in more than salary and perks. Particularly at the outset of their career, good candidates want to know that a job will enable them to develop their skills and expertise.

Helen adds: “It’s vital to show graduates that you are thinking of their career path as much as they are. You’re looking to build a long-term relationship and you need to show them that you are committed to helping them grow and develop.”

Investing in a good employee’s development is one of the best ways of ensuring they stay with your company. Research indicates one common reason people leave companies is that they feel they have stopped learning and developing. Very often, they go in search of new challenges, rather than more money.

As part of the GradStart programme, you are required to plan a career path for your potential recruit, the focus on which can also be attractive to potential candidates.

 

4. Think long term

If a graduate employee eventually leaves your company, it is often wise to maintain a strong relationship with them. Opportunities to collaborate may appear later, or a role that suits them perfectly may be created within your company in the future. A strong relationship with previous graduate employees can also be an on-going source of valuable industry intelligence.

Helen comments: “When you’re recruiting a graduate, you aren’t just selling the idea of joining your company, you’re selling the idea of becoming part of an industry or sector. You want them to feel that this is an exciting industry with lots of opportunities. Even if they do someday move on from your company, it can be very beneficial if they stay within your industry.”

 

5. Use recruitment tools

As part of GradStart, you will be supported through the graduate recruitment process. You will be encouraged to advertise your new position on Enterprise Ireland’s dedicated website for graduate offers and initiatives – gradhub.ie.  This site is directly linked to GradIreland, which has access to 80,000 graduates approximately. You can, of course, source a graduate yourself. It is important to remember that, to qualify for GradStart, the employee can’t have previously worked with the company or be working there currently.

 

What does GradStart offer?

GradStart provides financial support for a company to recruit up to three graduates for a duration of two years each. The support covers 50% of a graduate’s yearly salary, up to a maximum of €15,000 a year in grant aid (ie a salary of €30,000) for two years.

For graduates with proficiency in a language relevant to the business role, the grant increases to 70% of the salary, up to a maximum of €21,000 a year for two years.

It is available for Irish graduates or for overseas graduates, based either in Ireland or overseas. The graduate must be paid by an Irish company to access GradStart funding.

Get the support you need to step into new markets.  Check your company’s eligibility on this link below.

Apply for GradStart now.

5 ways to make the most of your Market Discovery Fund project 

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Learning that your business has been approved for a support like Enterprise Ireland’s Market Discovery Fund is great news. But it is followed by an important question. How can you make the best use of that financial support to maximise its value to your business?

 

1.    Make the most of Enterprise Ireland’s resources

Use all of the resources available to you as a company supported by Enterprise Ireland while you carry out the project and conduct your research.

Your Development Adviser 

Stay in touch with your Development Adviser throughout the project. Let them know you’re interested in attending relevant market and sector events and they will keep you top of mind.

39 overseas offices* 

Make time to visit Enterprise Ireland’s most relevant overseas offices as part of your project. With offices in 39 locations worldwide, our advisers have expert knowledge of the markets and sectors of most importance to Irish exporters.

If you alert the in-market team to your visit well in advance, they may be able to arrange meetings with valuable local contacts. After your visit, remember to stay in touch with the market advisers you know to stay up-to-date with local opportunities and developments.

(*39 correct as of 3 December 2019, date of publication)

Market Research Centre

Conducting the right market research is vital to maintaining your competitive edge and enjoying successful export growth – but it can also cost time, money and resources for which your business must budget.

The information specialists at Enterprise Ireland’s Market Research Centre offer a wealth of experience available to guide you to the most relevant reports and databases for your needs, and to provide support before and during your visit. They can help you to access current market research reports from some of the world’s leading publishers, such as Euromonitor International, Frost & Sullivan, and Mintel. The Centre is available free-of-charge to companies supported by Enterprise Ireland across the regional office network.

 

2.    Focus on your most promising markets

One important rule of thumb is to consider no more than three markets within a Market Discovery Fund project. Carrying out a market prioritisation exercise and comparing the potential of two or three markets within a region can be a smart use of this type of support.

Whichever markets you consider, remember that internet research alone will only take you so far. Travel to each market you are considering where feasible. You will learn far more on the ground than you can from behind a screen.

Also think carefully about the bandwidth (covering both people and finance) required to manage the project. Projects such as this typically take no more than six months, unless you recruit a graduate or entry-level executive to undertake a more substantial piece of research.

 

3.    Assess trade fair options

If you are planning to exhibit at a trade fair, try to visit the year or season before, so you can assess if it really is a good fit for your business. The most important factor to look out for is if the right kind of buyers and decision-makers attend.

If it is a big fair, spend some time establishing which is the right hall for your company to exhibit in. Being in the wrong hall is a waste of time and resources and can leave you and your team feeling frustrated.

If you decide to exhibit next time around, get in touch with the organisers as early as possible to find out costings or packages in addition to availability, as previous exhibitors are likely to be given priority.

 

 

4.    Know the claims process and track everything

You can find all the information and forms you need to submit your claim(s) to the Market Discovery Fund here. This includes:

  • Instructions for making your claim
  • The claim form
  • A claim form checklist
  • A timesheet template
  • A Director’s Statement template
  • A progress report form
  • More information on the claims process.

 

While at this point your application has been approved, it is vital to keep detailed records of all expenditure relating to your project. This can include:

  • Timesheets for employees, as relevant wages and salaries can be covered, subject to conditions outlined here
  • Receipts and invoices for all foreign travel and subsistence expenses directly related to the project. Remember these must be incurred by company employees supported on the project
  • The cost of purchasing reports and databases relating to a new market or sector (when relevant and not accessible through the Market Research Centre).

 

5.    Understand the value of what you learn

At first, it might seem disappointing if research indicates that a valid opportunity to bring your product or service to a particular market or markets does not exist. But it is actually a great lesson.

It is far better to be aware of this insight before committing fully to a market, as discovering a lack of potential later will cost your business much more.

Knowing which markets not to prioritise can be just as important as understanding which ones are most worth investing your time and resources. Refining your overall market strategy is a valuable outcome of a successful Market Discovery Fund project.

Remember, you must contact your assigned Enterprise Ireland Adviser to discuss your Market Discovery Fund application before you submit it. If you’re a first-time applicant, you need to register on the Enterprise Ireland Online Application System.

To discover how your company can take the step into new markets, visit: globalambition.ie/steps.      

Help your company grow by using the Market Research Centre

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With Brexit a reminder of the importance of diversifying and discovering exciting new export opportunities, Enterprise Ireland’s Market Research Centre can help.

Conducting the right market research is vital for businesses to maintain their competitive edge and enjoy successful export growth. According to a recent Enterprise Ireland survey, more than four out of five businesses plan to diversify into the Eurozone – a smart move given its potential export market value of €38bn alone.

Enterprise Ireland-supported companies can benefit from support in their plans to expand their reach. Here are five ways that our Market Research Centre can help.

 

1. Access world-class market research

Conducting market research before exporting into new markets can cost time, money and resources for which your business must budget. The Market Research Centre can help by providing access to up-to-date premium market research reports from some of the world’s leading market research publishers, such as Euromonitor International, Frost & Sullivan, and Mintel.

The Centre provides access to:

  • Country reports
  • Global company profiles
  • Industry sector reports
  • Trend forecasts.

The Centre is available free-of-charge to companies supported by Enterprise Ireland across the regional office network.

With some individual reports costing tens of thousands of euro, the potential value of using the service is immense.

 

2. Know your markets

When planning to export, the most important step is to learn as much about your new target market as possible. Accessing the latest research available through the Market Research Centre will help you to understand potential export regions and the competitors already operating there. Questions you should consider include:

  • What is the size of the market?
  • Who are the big players?
  • Is there a dominant brand in the market

       

      3. Know your channels

      When Abcon, an abrasives and industrial hose manufacturer from Co. Cavan wanted to increase exports to the Eurozone after the Brexit referendum, they needed to understand the markets that would help to grow the business.

      With a high volume of sales driven by internet searches, accurate information about the names of products in local languages proved essential to underpinning successful international digital marketing tactics.

      Lyn Sharkey, Sales and Marketing Director for Abcon, says that the Market Research Centre’s information specialists helped the company to obtain such information, in addition to lists of potential leads and trade events to attend – all of which would have been far more difficult to source alone.

       

      4. Insights about your customers

      Understanding the demographics of a market and the competitors already succeeding there is of little value unless you also understand your new potential customers, and how your offerings should be tweaked or positioned to best appeal to them.

      One of the most vital considerations for any company is: “what does your customer want, and how does it differ from what you’re already doing and delivering?”.

      When Irish Dog Foods, the Naas-based pet food manufacturer, was planning to enter the South Korean market, they asked these same questions. The company turned to the Market Research Centre to learn which customers it should sell to.

      “One of the things we learned during our market research is that there are practically no large dogs in Korea,” says Darren Keating, Marketing Manager of Irish Dog Foods. “That meant we specifically targeted the owners of small dogs. That information came from the Market Research Centre.”

       

      5. Guidance from information specialists

      The Market Research Centre’s information specialists have a wealth of experience and are available to guide you to the most relevant reports and databases for your needs, and to provide support before and during your visit.

      Sometimes the best support is reassurance from a specialist that you are heading in the right direction, allowing you to use your time efficiently.

       

      Contact Us

      Contact the Market Research Centre to discuss your research request and to arrange a visit to our centre in Dublin or to any of our eight regional office hubs.

      Phone: +353 (1) 727 2324

      Email: market.research@enterprise-ireland.com

      Opening Hours: Monday-Friday 9am-5pm

      Man with lightbulb representing Innovation

      Agile Innovation Fund: Easier than ever for companies of all sizes to access R&D funding

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      It is now easier than ever for Irish companies to access R&D funding to improve their products and services and compete internationally.

      That was the message from Enterprise Ireland and the national network of Local Enterprise Offices to representatives from more than 60 companies who attended a research, development and innovation event recently in Dublin.

      Enterprise Ireland and the LEOs pledged to use the Agile Innovation Fund to support companies of all sizes as they to seek to open new export markets and grow – promising a fast, flexible and simple application process.

       

      Find more information about the Agile Innovation Fund here.

      Speaking at the Agile Innovation Workshop, Eoghan Hanrahan, Enterprise Ireland Regional Director for the Dublin Region and Regional Development, said: “In doing R&D, companies have to challenge the norms, do something different, look at achieving some kind of technical innovation to try and future-proof their company.

       

      Get support for Agile Innovation

      “We recognise that R&D can be challenging but it is a very important step for any business to take and it’s also important that they are supported in doing so. Enterprise Ireland and the LEOs are here to assist people and companies who want to invest in R&D. The Agile Innovation Fund offers up to 50% funding to a maximum of €150,000 in grant aid.”

      Irish companies are spending less on R&D than most European competitors. Latest Eurostat figures show that spending in 2017 equated to 1.05% of GDP, almost half the EU average of 2.07% and well behind R&D leaders Sweden, Austria, Denmark and Germany – all of whom spent more than 3% of GDP.

      Of the €3bn that was invested in R&D in Ireland, €1bn was spent by indigenous companies. It is notable that in 2007, Ireland spent a higher percentage of GDP (1.23%) on R&D than it did in 2017.

      Joe Madden, Manager of In-Company R&D Supports at Enterprise Ireland, told the workshop that the Agile Innovation Fund was designed to counter the belief among SMEs that funding R&D is too costly and that securing state support for projects is too complex and geared towards larger operations.

       

      Flexible and fast access to Agile Innovation funding

      “The Agile innovation fund was introduced at the beginning of 2018 as a response to a very steep fall off in applications for R&D support,” Mr Madden said. “Companies were telling us that the standard R&D application process was too complicated and very often they would have a project finished before they even knew whether they were going to get approval to do it.

      “We needed to introduce something much more flexible, much faster and where the funding wasn’t as high so that we could apply a less onerous process for evaluating and approving applications.”

      The main feature of the Agile Innovation Fund is its fast turnaround time, with an application process that results in decisions in a few weeks rather than several months. More than 90 companies have drawn down around €20m in funding since it was launched last year, with 90% of them rating the application process as relatively simple in a survey.

      Madden added: “There are only two documents required to apply for the Agile Innovation Fund, an online application form and a project plan. The project plan is what the technical assessment of the application is based on. The technical assessors are looking for two things: is this eligible R&D and are the costs reasonable. To be eligible R&D, there has to be technical uncertainty – this means the project must demonstrate some kind of product or process development technical challenge.

      “Total expenditure on any single application is limited to €300,000, so if your project spend goes to €300,001, it is not eligible for funding. Typically for a smaller company, the funding would be 45% of the total cost, which equates to a maximum grant of €135,000. If a small company collaborates with a partner, this funding can rise to 50% and therefore the limit increases to €150,000.”

      The goal of the Agile Innovation Fund is to increase the amount of spending by indigenous companies of all sizes on R&D across the economy.

       

      Local Enterprise Office support

      Oisin Geoghegan, Head of Enterprise at LEO Fingal, advised companies that are not Enterprise Ireland clients to get in touch with their Local Enterprise Office.

      He said: “Providing assistance and funding for R&D projects or innovation is one of the core reasons why the Local Enterprise Offices are here. R&D is not just about wearing white coats and having a lab. Most of the businesses we are dealing with could potentially apply for and receive R&D grants

      “We want to see more applications from SMEs and the LEOs will work with you to give you advice and guidance on the application process. It’s called Agile for a reason, the application process is straightforward, it’s online and we want to see applications processed and approved quickly.”

      Apply for the Agile Innovation Fund now.