Supporting businesses to launch & scale

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Deadline for Increased Cost of Business grant fast approaching!

A reminder that the deadline for Increased Cost of Business (ICOB) grant registration is fast approaching!  Businesses have until 1st May to register on the ICOB Portal at www.icob.ie

Businesses are advised to check the portal for the criteria to see if your business qualifies. Don’t miss out on this vital support for small and medium businesses!

Register as soon as possible to avail of this grant. Payments will commence from late April 2024.

Further information can also be found at the DLR County Council website at the following link:  https://www.dDlrcoco.ie/icob-grant.

Also see this useful guide to submitting your details for the grant:  ICOB User Guide.pdf (dlrcoco.ie)

Any queries are advised to contact the ICOB section in DLR at the following email address  icob@dlrcoco.ie

Business insurance premiums are up despite a fall in settlement costs

The Central Bank’s third Employers’ Liability, Public Liability and Commercial Property Insurance Report based on figures collated by the National Claims Information Database (NCID) was published on 4th April.  Business Insurance premiums are up despite a fall in settlement costs.  The report outlines that a total of 8,600 claims were settled in 2022 for a total cost of €268 million, down from €276 million the previous year and by nearly a fifth on the 2017 figure of €325 million.  However, the overall average premium for package policies increased by eight percent at the same time.

Minister of State for Financial Services, Jennifer Carroll MacNeill, said the report would not reflect changes made since last year.

“What’s not captured in the Central Bank report is the new duty of care environment since July 2023 following government amendments to the Occupiers’ Liability Act 1995” she said.

“Businesses now know with confidence that the issue of ‘slips, trips and falls’ has been legislated for and the market has become more fairly balanced for all.

“This new environment will help deliver major benefits to businesses in the future when it comes to securing more favourable insurance cover at renewal time”.

She added: “I note the annual change in business insurance for 2022 mirrored the 7.8 percent inflation rate at that time.  As the rate of inflation has since eased, it is my expectation that we will see the same happen in relation to business insurance premiums.”

The chief executive of the Alliance for Insurance Reform, Brian Hanley, said that this week’s Central Bank Figures show that reforms in the insurance sector are not leading to reductions in premiums or great access to cover.  Speaking on RTÉ’s Morning Ireland, Mr Hanley said many businesses are facing significant challenges and it was a “difficult message” for businesses and community groups to accept.

The new Leader of Fine Gael, Simon Harris, said on Wednesday after meeting with his party’s Small Business and Enterprise Council that small businesses and the costs they are facing is an area he plans to focus on while in office.

 

A busy workshop week at Bridge Enterprise Centres – March 4th to 8th

We had a very busy and active workshop week at Bridge Enterprise Centres to mark Local Enterprise Week.

We hosted a range of excellent and experienced guest speakers delivering very interactive sessions on Business Planning and Strategy, HR & Employment Law for SMEs, Digital Marketing & AI, Pensions & Savings, and a workshop on Sales Performance.

Many thanks to all our guest speakers; Geraldine Lavin – 3rd i, Liz O’Donovan – Voltedge Management, Richard McKeown – WSI, Gareth Watkins – Lynx Financial Services,  and Jo Collins – Sales Performance.

Business Planning and Strategy workshop with Geraldine Lavin of 3rd i

 

Gareth Watkins of Lynx Financial Services briefs attendees on the changing Pensions landscape.

Increased Cost of Business (ICOB) Grant Announced

The government has announced a new Increased Cost of Business (ICOB) Grant for small & medium businesses!

Applications open on March 14th 2024

As part of Budget 2024, the Government signed off on a package of €257m for the Increased Cost of Business (ICOB) Grant as a vital measure for small and medium businesses.  This initiative is funded by the Department of Enterprise, Trade & Employment.

Read the full announcement here.

Bridge Enterprise Centres: A Network of Support for Dún Laoghaire-Rathdown’s Local Economy

Merger of Nutgrove and St. Kieran’s Enterprise Centres creates a vibrant local business nexus.

Nutgrove Enterprise Campus – March 7th, 2024 – Today marks a significant milestone in Dún Laoghaire-Rathdown’s (DLR) economic landscape with the launch of Bridge Enterprise Centres. The merger of Nutgrove and St. Kieran’s Enterprise Centres heralds a new era of community-driven support for businesses, spanning from Sandyford to Nutgrove. This unified entity is dedicated to empowering individuals, startups, and micro & small enterprises, providing them with the essential resources for success.

At the launch held at Nutgrove Enterprise Campus, Chairperson Mark Fielding introduced the new brand, website, and strategic vision for Bridge Enterprise Centres. With twenty-seven businesses and over 150 employees already thriving within the two campuses, Fielding expressed optimism for the continued success of the local business community.

“Our decision to merge was fuelled by shared values and vision and a mutual commitment to fostering community enterprise. This unity propels us forward as we embark on a journey to enhance business support services for both our local and extended communities, especially for budding entrepreneurs and emerging ventures,” remarked Fielding.

Bridge Enterprise Centres currently caters to diverse needs with thirty office units, hot desk spaces, meeting rooms, and facilities for food production and light industrial activities in Nutgrove, while St. Kieran’s Sandyford campus offers nine industrial and two office units.

CEO Ciaran Kenny emphasized Bridge Enterprise Centres’ broader impact, stating:

“Beyond providing physical workspace, we offer an expanding array of business start-up assistance, education, mentoring, and training services through our dedicated business support team. Our new brand and website epitomize our commitment to ’empowering enterprise,’ extending our reach beyond campus borders to serve communities in west DLR and South Dublin through our outreach programs.”

Aligned with the DLR Local Economic & Community Plan, Bridge Enterprise Centres has devised a comprehensive five-year strategic plan, extending to 2028. Mark Fielding affirmed, “Our goal is to offer convenient and effective support to SMEs, foster job creation, and ensure deeper engagement with local businesses in the west of the County.”

 

About Bridge Enterprise Centres

Bridge Enterprise Centres is a merger of centres at Nutgrove and St. Kieran’s in Sandyford industrial estate, dedicated to supporting local businesses in Dún Laoghaire-Rathdown. With a focus on empowerment and community collaboration, Bridge Enterprise Centres offers a network and range of resources and services tailored to the needs of individuals, startups, and small enterprises from Sandyford through Balally, Ballinteer, Marley Grange, Nutgrove, Churchtown, Taney, Goatstown and Dundrum.

Event: Mastering the sales journey

Our March series of events continues with Sales Performance by Jo Collins from Sales Performance.

Friday 8th March, 10am to 12.00pm

Jo Collins – Sales Performance
Mastering the sales journey, with skills and strategies for growth

Join us for this sales session which will focus on; creating a sales plan, objection handling, closing techniques and new business development ideas.