Board activity in the year to 31st December 2009 yielded a solid performance despite the underlying financial and slowing business environment.
Grant aid in the sum of €500,637 was approved in respect of 40 micro enterprises with the potential to create 62 full time and 20 part time/seasonal jobs. The additional support will help retain an additional 70 jobs in supported businesses.
A total of €482,093 was actually paid in grant assistance to 47 businesses in 2009.
In addition the Board spent a sum of €413,856 on the provision of a range of other business supports to over a 1,000 individuals. These include Business Start Up Training, Business Growth Training, Marketing, IT skills, Design, Networking and ‘One to One’ Mentoring.
These projects are located throughout the county, the vast majority in locations which would not benefit directly from FDI (Foreign Direct Investment) intervention. These projects will enable people to live and work in their own communities thereby contributing to rural development in a tangible way.
The Board continues to promote entrepreneurial capability at second and third level Educational Institutions. It sponsors a County Student Enterprise Awards Competition for students in second level schools and contributes financially to the National Awards of this Competition. The Board also delivers the County Enterprise Awards and supports a range of other initiatives including Advanced Food Programmes, Seafood Product Development, Business Networking and a range of other programmes and seminars.
Tomás Hayes CEO comments “the construction decline is apparent and manufacturing decline will continue to be a major issue in Kerry due to the cost of labour, our peripheral location and ultimately the decision of international business shareholders to maximise returns in other economies. The detrimental impact of the economic slowdown combined with poor credit availability has been immense. Kerry County Enterprise Board policy has been to consistently support the local manufacturing and services growth sector.
At a policy level, there has to be greater recognition of the role of local enterprise and particularly micro enterprises. Micro-businesses are better structured to endure these difficult times as they are lean, creative and flexible.
A number of trends will emerge over the next years. Historically, people tend to start more small businesses in an economic downturn. This can be a result of unemployment pressures and larger businesses outsourcing services. Micro-businesses will explore more opportunities in sectors such health care, fuel, energy and product repair. Tourism, food and drink will be important drivers in the local economy. There will be increased interest in online business models to complement existing models and there will be substantial interest in business online networking. National policy must consider the needs of a county like Kerry and facilitate the Board in developing initiatives and funding structures appropriate to the county.
Starting a business needs careful planning and support, both financial and advisory. County Enterprise Boards continue to provide these early stage services which are vitally important, especially in the initial formative years of a business. The Board compliments the entrepreneurs for their courage in becoming self employed in a risk-taking sector.
The Board is continually indebted to members of the Board and the Evaluation Committee who carry out their duties on a voluntary basis and in a dedicated and professional manner. The professionalism and dedication of our staff members is also very much appreciated and acknowledged.