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Business bodies join forces for unique Brexit event to provide practical advice and support for SMEs
 
 

InterTradeIreland, NI Chamber of Commerce, the Federation of Small Businesses, Institute of Directors, and Invest NI are coming together for the first time to host ‘Practical Advice and Support for Brexit’, a unique one-stop-shop event being staged in Titanic Belfast on Tuesday 16th April. 

 


This is a free event which will focus on pragmatic steps businesses can take to prepare the ground for whatever Brexit may mean for them; bringing a host of information on support and funding under one roof.

 

Keynote speakers setting the scene at the half-day event include Karen Wheeler, Director General for Border Co-ordination at HM Revenue and Customs and Dr Vincent Power, renowned international commercial law expert from A&L Goodbody.

 

Core to the event will be the chance for firms to benefit from in-depth, one-to-one clinics with a range of experts drawn from subject areas such as customs, logistics, tax, supply chain, data and employment.

 

It is a chance for businesses of all sizes and sectors, to access expertise and find out more about the range of support and financial assistance on offer.

 

InterTradeIreland can offer companies up to £4,500 of funding, as well as a tailor-made online learning tool which is designed to help cross-border traders understand customs requirements, in terms of moving goods and services cross-border with step-by-step guides.  Visit intertradeireland.com/brexit to find out more.

 

 
 
 
LATEST NEWS
 
€280k total cash prize up for grabs for innovative early stage companies
 
 
Seedcorn 2018 winners
Seedcorn 2018 winners

InterTradeIreland’s Seedcorn competition 2019 is now open for entrants and is aimed at New Start and Early Stage companies in any sector on any part of the island.

 

Watch the video below to find out more about the competition.

InterTradeIreland Seedcorn Competition - How the Competition works


 
 
Are you up for the 'Challenge'?
 
 

If you are an ambitious SME looking to commercialise new ideas quickly, with reduced cost and risk, register for our FREE workshop on the 23rd May in Tipperary to find out more.

 


 
 
 

Do you want to export, but are unsure how to take the first step?

Interview with Daithi O'Connor, Revive Active

Galway based Revive Active wanted to take that first step in the export market by testing the NI market, so took part on InterTradeIreland's Acumen programme receiving 50% funding to hire an NI salesperson.  12 months on and the NI market has doubled for Revive Active and all the signs are for further growth.

 


Galway entrepreneur Daithi O’Connor started Revive Active in 2011. Eight years later 20,000 people a day use his super vitamin supplements. The business has grown steadily year on year with over 1,000 retailers on the island of Ireland now stocking the product.

Turning points in the business

Daithi can point to specific events that have made a big difference to the business.

In 2013, Goretti Brady the MD of Lloyds Pharmacy was visiting the Roxboro store in Limerick and noticed their Vitamin, Mineral & Dietary supplement sales had gone up by 900%, she asked the reason and the local Manager handed her a box of Revive Active.  As a result, she then decided to stock Revive Active throughout their network of 100 pharmacies across Ireland.

With a strong foothold in the Irish market, Daithi realised that they needed to export to realise the firm’s growth potential.

“Word of mouth has been huge for us. People recommend our product to friends and family because of the science behind it and the multiple benefits experienced, however we had no footprint in Northern Ireland. It’s a market of almost two million people on our doorstep, it was too big to ignore”

50% Funding for the salary of a salesperson in NI

Revive Active contacted InterTradeIreland, and under the company’s sales and marketing programme, Acumen, secured 50% funding of the salary of a sales person in NI. “Actually part of a big help to us too, was that InterTradeIreland assisted us with the recruitment process. Plus, we were really impressed with the quality of the candidates” adds Daithi.

Now with a full time representative in Northern Ireland, the market has doubled for Revive Active within twelve months and all the signs are for further growth.

 

Growing and Exporting

“Our plan was to crack Northern Ireland first, it’s been a great test-bed for us in terms of exporting and our next target market is the USA. Initially we are going to target Florida, that state alone has population of 20 million people however the total US market has a value of $28B.”

The thought of Brexit hasn’t deterred Daithi “ In business you deal with different issues everyday so our team have planned for Brexit be it hard or soft. If you’re serious about growing your business you need to explore all areas of growth open to your company and assess risk and return. We will expand even further on the basis of our experience in Northern Ireland.”

 

If you would be interested in taking part in Acumen to grow your business and gain new customers, you can find out more at www.intertradeireland.com/acumen

You could be eligible for up to £15,000 in funding towards the salary of a sales person in Northern Ireland.

 

 

 

 

 
 
 
INTERESTING ARTICLES
 
How prepared are firms across the island to deal with potential shocks to post-Brexit trading environment?
Article by Kerry Curran, Policy Research Manager, InterTradeIreland
 
 

This month's blog provides insight into how prepared firms are to deal with a post-Brexit scenario that involves increases in the cost of trading across the border.   In 2016 InterTradeIreland commissioned comprehensive research to understand how firms across the island may be impacted by changes in the cross-border trading environment post-Brexit.


In 2016 InterTradeIreland commissioned a comprehensive research programme to understand how firms in both Ireland and Northern Ireland may be impacted by changes in the cross-border trading environment post-Brexit.  Previously published research in the series examined the impact of WTO Tariffs on cross-border trade, the level of integration of supply chains and the tangible benefits to exporting across the border in terms of turnover, employment levels and productivity.  This latest research examines how the capacity of firms to absorb shocks can be assessed using detailed firm-level patterns of risk exposure across Ireland and Northern Ireland.  Combining our shock absorption capacity indicators with information on cross-border and EU trade flows provides insight into how dispersed across firms a post-Brexit shock to trade costs might be.

 

Below are some of the key findings of this recent research.

 

Goods Firms Shock Absorption Capacity

In Ireland just over 45% of goods firms are in an “at-risk” group compared with just over 50% of NI goods firms. This figure sounds eye-opening.  To be clear this means that around half of the firms have at best, a mediocre ability to absorb shock.At the more extreme end, 7.4% of goods firms in Ireland and 5.5% of NI firms are considered to be extremely vulnerable to any post-Brexit fall-out.Those firms that are considered “low-risk” account for just over a third of goods firms (35.5%) in Ireland compared with 26.5% for NI goods firms. These are likely to be bigger and therefore will be larger employers. 

 

Services Firms Shock Absorption Capacity

In terms of firms in the services sector, the pattern for the most vulnerable is broadly similar as the goods sector. Those in the most exposed or “highest risk” category stands at 5.8% in Northern Ireland and 4.4% in Ireland.In fact, the research shows that, even more so than in goods, smaller firms in the services sector are the most vulnerable. Again they will represent a smaller share of employment.More generally the number “at-risk” in the services sector is similar for Ireland and Northern Ireland at just over 47% and 46% respectively.  For those firms in this category any external shock could at best be called a “medium risk” and at worst, very “high-risk.”

 

Cross-border Trade Shock Absorption Capacity

North-South trade is quite dispersed across almost all levels of shock absorption capacity- meaning any major trading change to trading costs is going to be disruptive.It is worth noting that 30% of Irish goods exports to the UK are in overall at-risk categories, compared to 62% of exports from Northern Ireland goods firms to Ireland.72.8% of Northern Ireland’s good imports from Ireland are undertaken by firms in at risk categories with 44.9% by firms in the higher risk categories, compared to 29% of Irish good imports from the UK, that are in an overall “at-risk” category.  Therefore, this suggests that any equivalent-sized shock would have wider effects in Northern Ireland, with a greater share of firms exposed relative to Ireland.

 

East-West Trade Shock Absorption Capacity

Trade between Ireland and Great Britain is relatively highly concentrated in the lower risk groups of firms.To illustrate, for Irish goods firms, there is a greater concentration of both exports and imports amongst firms with greater capacity to absorb shocks, with 48.8% of exports to the UK accounted for by the least at-risk group and 45.4% of imports accounted for by this highest capacity group.View the report in full  

 

How can businesses mitigate risk?

This research underlines the heightened exposure of small cross-border traders, to post-Brexit trading relationships that involve cost increases. InterTradeIreland is responding by enhancing its Brexit support.While there is still a huge amount of uncertainty surrounding the outcome of Brexit, now is not the time to be complacent. Businesses can put measures in place to help them identify risks and opportunities.In fact, demand for InterTradeIreland’s Brexit Planning vouchers has surged in recent months, with a third of all applications for the scheme, launched in May 2017, coming since the start of this year.

 

Enhanced InterTradeIreland Brexit Advisory Service

 

Now, InterTradeIreland has unveiled details of an enhanced Brexit Advisory Service, where businesses can secure up to £4,500 of funding, as well as benefit from a new bespoke on-line learning tool focused on practical help to prepare for Brexit.

 

Aidan Gough, InterTradeIreland’s Designated officer says “Thousands of small businesses in Ireland, trade across the border. To assist them, we have enhanced our support package by adding a new element to our voucher funding which is focused on implementing plans to mitigate risk and chase opportunity.We have also developed a new interactive, on-line learning resource focused on the most pressing issues around Brexit raised by SMEs in their engagement with us. It is aimed at busy cross-border traders and makes high-quality, concise information available to them in their own time, in an accessible way.”

 

If you would like more background on businesses shock absorption capacity, or more information on InterTradeIreland’s Brexit Advisory Service, visit www.intertradeireland.com

 

 

 

 

 
 
Are you an aspiring entrepreneur with an innovative agri-food technology?
 
 

Apply for Seedbed and receive up to €10,000 for travel costs to go out and meet with potential customers and validate your business idea with EIT

 

This year, Seedbed is open to entrepreneurs and early stage start-ups from across the world, with up to €20,000 prizes available at the final pitch event.

 
 
Venture for Success programme now open for applications
 
 

Are you a young, Belfast based, high growth company?  The Belfast City Council Venture for Success Programme is now accepting applications.  Apply now to be considered for a range of free business supports including up to six days of 1-to1 mentoring. 


 
 
How innovative is your organisation?
 
 
Prof John Bessant
Prof John Bessant

Presentations and video from Professor John Bessant's interesting lecture and workshop in Cork recently as part of our All-Island Innovation Programme Workshop Series 2019.

 


 
 
 
AND FINALLY...
 
20 Business Blogs to follow in 2019
by An Article from Fleximize.com
 
 

There’s a load of business advice available online, with more and more business blogs, entrepreneur interviews and SME guides appearing every day. To save you the hassle of finding your favourites, this article has pulled together a list of the very best business blogs, online magazines and websites for entrepreneurs and small business owners. Enjoy!


 
 
GDPR Statement
 

InterTradeIreland has policies in place in line with changes to the General Data Protection Regulation (GDPR) Legislation which came into effect in mid-May 2018. To ensure you stay up-to-date with latest news, events, programmes and business supports across the island you must give us your consent to contact you in this way. If you no longer wish to receive this communication please unsubscribe from this email via the tab at the bottom of the newsletter.


 
 
 
Upcoming Events
 
IEEE 5th World Forum on Internet of Things, Limerick, 15-18 April
 

Limited number of 50% off discount codes available.  Contact Grainne Lennon.


 
 
Seedcorn Briefings, April/May - various locations
 
 
 
Tendering in Public Sector Construction Market, 7th May, Belfast
 
 
 
Challenge Briefing Event, 23rd May, Tipperary
 
 
 
 
InterTradeIreland's New Brexit Manager
 
 

Deirdre Maguire has extensive experience working with businesses. Deirdre who is a Bachelor of Financial Services, previously worked with Ulster Bank in both Retail and in Business Banking for over 20 years and in a range of positions.


She has a keen sense of what businesses need.

 

"I'm really pleased to be helping SMEs. Over 85% of businesses that have used the InterTradeIreland "Start to Plan" voucher say they are better equipped to manage the potential impact of Brexit as a result."

 

"We have FREE support worth £2k/€2250 currently available to help eligible SMEs."

 

You can apply for a Brexit voucher here.

 

 

 

 

 
 
Are you up for the Challenge - CDE Enviro from Cookstown are!
 
 

SMEs across the island are being encouraged to follow the example set by Cookstown-based CDEnviro to complete InterTradeIreland's six-month Challenge Programme and transform their approach to innovation. Just six months after completing the programme in March 2018, CDEnviro has created a new strategic innovation department and has a pipeline of 46 viable business concepts.  


About the company

 

CDEnviro delivers integrated solutions for clients’ waste in terms of landfill diversion, wastewater recycling, environmental remediation and the generation of energy from waste.  Just six months after completing the programme in March 2018, CDEnviro has created a new strategic innovation department and has a pipeline of 46 viable business concepts.   The company has plans to undertake its largest ever research and development (R&D) project to create pioneering solutions for companies affected by changing landfill waste classifications.  CDEnviro intends to bring its solution to market in 2019.  

 

Their experience of Challenge

 

Sean Dobbs, strategic innovation lead for CDEnviro, outlines the benefits of participating in the InterTradeIreland Challenge Programme:

“We have always been an ambitious company.  CDEnviro has a long track record of creating unique, innovative solutions, reflected by our multiple patents.  We believe zero waste is achievable. However, to get there we as an industry must take on and find a solution to the seemingly unsolvable issues, something we are proud to say we have a strong track record of.  We do this by working with our most valued asset, our customers, who typically bring us their biggest needs and go on to partner with us to co-develop solutions, to yield truly world class results.  We have been looking at new sectors and niche markets since 2015. However, given the higher level of risk we knew that while we had the ideas and skills to disrupt these industries and bring solutions, we didn’t feel that our process to vet ideas was as reliable as it could be. The Challenge Programme helped us to integrate our skills and creativity across the business and really structure this validation process that has proven crucial to unlocking these higher risk opportunities.

 

The senior management team immediately saw the benefits of participation in the Challenge Programme and the program has embed key skills at the core of the business.” 

InterTradeIreland’s Challenge Programme is aimed at ambitious SMEs and allows business leaders to transform their company’s prospects in just nine months by learning and applying the most effective methods of generating, marketing and launching new products and services. 

 

InterTradeIreland support

 

Alan Morrow, InterTradeIreland Challenge Programme manager, explains:

“Challenge companies experience a transformative change in innovation culture, management capability and performance as the programme is focused on embedding best practice in innovation management at the core of participating businesses.

“Only 25 companies are taken through Challenge each year and interested, innovative firms are welcome to register their interest for our upcoming briefing session in November 2018. Following application and acceptance onto the programme, participating firms attend workshops to clearly define their innovation priorities and receive intensive in-house coaching support to progress these into new products. There are no costs for SMEs to take part and the benefits that can be reaped are immense. 

 

“Challenge leaves SMEs with a proven, adaptable and repeatable innovation process that allows them to commercialise ideas quickly with less cost and reduced risk, enabling a reboot of current processes, ultimately generating a growth pipeline.

“We are delighted that CDEnviro has truly seized the Challenge ethos by proactively making changes that have led to the creation of new roles and processes thus enriching innovation across the business. Undertaking their largest ever R&D project is testament to their growth ambitions and impact that the Challenge Programme wields.”

 

CDEnviro and the future

Discussing the future for CDEnviro Mr Dobbs says: “The support from InterTradeIreland was excellent. We have an ever growing pipeline of ideas and concepts, which currently sits at almost 50.   To be able to quickly and efficiently research and either validate or discredit any and all opportunities, and having confidence that we are solving the biggest problems first is an exciting prospect for the entire team and a very strong capability to have.  

“We are opening up new markets for the business thanks to our major new R&D project. By researching and reviewing forthcoming changes to legislation, in terms of the classification of materials as waste, we found that many currently don’t have a treatment solution because certain materials haven’t previously been classified as waste. We have been able to create an innovative process to manage and treat waste within these new categories, resulting in this material being diverted from landfill, which is something we are very proud of. 

 

“These changes will have a significant impact on businesses across many sectors and as industry pioneers we aim to be first to market with our technology. This R&D project marks a multi-million-pound investment for the business, which we are hopeful of securing a level of funding to support.  We are looking forward to having the first part of our solution in market in early 2019 and are excited about the growth this project will provide the business and the significant boost in  employment for the local economy, that comes with a project of this scale.”

 

How to get involved in Challenge

InterTradeIreland’s Challenge Programme is open to the senior management teams of financially viable companies with between 10 and 250 employees which are currently exporting or considering exporting and who are serious about growth through innovation. Find out more at www.intertradeireland.com/innovation/challenge 

 

Mr Dobbs concludes: “As well as positive impacts right across CDEnviro, I personally found the Challenge Programme very beneficial. The InterTradeIreland team has been a great support and they don’t just provide training and leave; they are happy to go above and beyond, maintaining the relationship with individuals and companies with whom they work. 

 

“I would recommend that other business leaders should consider the Challenge Programme to increase innovation outputs. CDEnviro is always evolving, and the Challenge Programme has helped us to continue to do so.”

 
 
H2020 Collaborative Projects- the benefits to one local NI SME
 
 

'Collaborative Projects like those funded by Horizon 2020 can be hugely beneficial to SMEs not just because of the funding and support but also because of the network you join' Austin Tanney, Analytics Engines, Belfast (MIDAS H2020 project)


 
 
MedTech syndicate leads €1.1M investment in Ostoform
Ostoform to bring its patented technology for stoma patients to market in Europe and the US
 
 

 

 

 
 
How a simple blood test for men, could save a life
From Health News Ireland
 
 

InterTradeIreland is helping to facilitate cross-border cancer research. You can read Eddie's story to find out about clinical trials available to patients.


 
 
Ken Nelson receives his MBE
 
 

Congratulations to InterTradeIreland's Chairman Ken Nelson who received his MBE from Prince Charles in a ceremony in Buckingham Palace.


 
 
See you in September
 

There will be no ezine next month. Enjoy August, and see you in the autumn.


 
 
Get the Shifts- Tinder for the hospitality business
From RTE news
 
 

Get The Shifts is  based in Shannon, Co. Clare. A participant on InterTradeIreland's Elevate Programme, the business is now planning to recruit 700  staff across the island.


 
 
Tell us about a turning point in your business?
SME in the spotlight
 
 

Colm Gribben remembers very clearly his first project in the Republic of Ireland. His company Viltra, based in Newry Co. Down, was tasked with solving the waste water problems for the new visitor centre at Fanad lighthouse in Donegal. It turned out to be a crucial juncture for the business.


Colm Gribben remembers very clearly his first project in the Republic of Ireland. His company Viltra, based in Newry, was tasked with solving the waste water problems for the new visitor centre at Fanad lighthouse in Donegal. It turned out to be a crucial juncture for the business.

 

“It really is an iconic site, when you step off the plane at Dublin airport, you see the picture of that lighthouse. What you don’t realise it that all the landscape around it, means you have to be very creative when it comes to wastewater management. We designed and installed a bespoke system. All our skills came in. That’s when we got the reputation as real problem solvers across Ireland” says Colm.

 

A Crucial Decision

Viltra has been in business for 13 years. Their clients in Northern Ireland now include the National Trust. However, at one point, it was touch and go. The property crash had a big impact on the business. “We were in survival mode. I realised that if we were going to keep going I had to look elsewhere. We looked at new technology and new markets. I vowed that we would never be reliant on one market again. Diversifying was key for us” says Colm.

 

Funding up to 50% for a sales person

Colm applied to InterTradeIreland’s sales and marketing programme, Acumen. Under the programme his company was eligible to get 50% funding towards the salary of a sales person to grow his business cross-border.  “Having a guy out on the road for us in the South, made a huge difference. He built a database of architects and engineers, he was knocking doors and then one day, we got an enquiry about Fanad lighthouse. Now 25 to 30% of our turnover comes from Ireland and I’m confident it will grow” adds Colm.

 

“If you have the chance to do the Acumen programme, what’s stopping you? Right from the beginning, when you first start to talk to someone about Acumen, you are learning. The application process and the advice the consultants gave me as part of the programme was a big help. It was like I had 10 people working for me. I learned an awful lot about my competitors and the market I was trading into.”

 

If you would be interested in taking part in Acumen to grow your business, gain new customers and new sustainable income, you can find out more at www.intertradeireland.com/acumen

 

 

Find out more about Colm's journey below.

InterTradeIreland - Viltra (Acumen Programme)

 

 

 
 
Open Innovation Workshop & Platform launch for SMEs - Oct 24th - Belfast
 

An open innovation master class for SMEs and the launch of the All Island Open Innovation Platform (AIOIP).


 
 
Take the HSA’s online Chemical Usage Survey and be in with a chance to win an iPad
 
 

The Health & Safety Authority is inviting all companies using or trading products containing chemical to participate in its survey.


The aim of the survey is to establish the general levels of awareness and knowledge among Irish companies of EU chemical legislation. In light of the UK vote to leave the EU, the survey will also gather information on the potential impacts this may have on the trading of chemicals between the UK, Northern Ireland & Ireland.

 

It will also help identify aspects where companies may need more support to achieve regulatory compliance when the UK exits the EU in 2019. Businesses and workplaces using or trading products containing chemicals are invited to complete the survey and be in with the chance of winning an iPad. Click here to begin https://www.surveymonkey.com/r/NBRWJFC

 

 

 

 

 
 
Getting Ireland Brexit Ready - Monaghan
 

FREE event for SMEs with an interest in the business, agri-food / fisheries and tourism sectors.


 
 
Venture Capital Conference: March 7th, Dublin
 

The 2019 InterTradeIreland Venture Capital Conference will be taking place in Croke Park, Dublin. SAVE THE DATE.


The 2019 InterTradeIreland Venture Capital Conference will  take place on March 7th, in Croke Park, Dublin.

 

The focus of the conference will be the "Fundamentals of Securing Investment" and is expected to bring a capacity audience of more than 300 delegates; that will include entrepreneurs, venture capitalists, business angels, other investors and start-ups seeking funds. 

 

With VC funding at record levels, this is the perfect time to secure capital .Tech firms on the island raised close to a record €1bn last year. In addition, since the onset of the credit crunch in 2008, more than 1,450 SMEs have raised venture capital of €3.6 billion.

More details including registration, will be in next month's ezine.  It may be wise to save the March 7th date in your calendar now.

 

 
 
6th December - Equity Advisory Clinic - Galway
 
 
 
Venture Capital Conference 2019- 7th March 2019
 
 

Steve Collins founder of Havok and Frontline Ventures Partner confirmed as keynote speaker. This year's theme is Securing Seed and Growth Funding in Ireland and the UK. Each year this conference attracts a large crowd so register your place now.


 
 
21st March, Bangor, Funding Advisory Workshop
 
 
 
28th February, Galway, Market Access to the UK for Life Sciences
 
 
 
7th March, Belfast, Tendering In The Public Sector Construction Market
 
 
 
13th March, Dundalk, Brexit-The future for Border Business
 
 
 
Practical Advice and support for Brexit event, 16th April, Titanic Belfast
 
 
 
Funding Advisory Workshop - Limerick 11th April