Avid Partners has a number of clients operating in the technology sector working in areas ranging from community based e-commerce operations to an applications developer targeting new advertising opportunities in the Irish media sector. When working with technology company’s we have to really get inside the mind-set of the business operator as in many cases it is very much an “out of the box” business area and concepts are often very new and invention based. Because of this an entrepreneurial perspective can work best when working with technology and e-commerce businesses and whilst traditional practices and financial best practices are always essential, a fresh approach is helpful when driving aspects of growth and development of a client’s technology business.

 

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Technology Sector

When people think of technology companies most conjure up images of the large multinational tech companies like Google, Intel, Microsoft, Amazon, Apple, Paypal, Facebook, IBM and similar global players. Whilst it is true that the majority of employment and revenue comes from the large players, there is also a significant subsector of smaller technology companies that feed into the big industry companies and indeed feed off them as well. Many indigenous companies are fostering collaborative relationships with the multinational sector to create strategic alliances, working partnerships and fostering innovations. Some key facts regarding the industry in Ireland include:

 

Sector Issues

The technology sector is very vulnerable to economic uncertainties and much of its investment comes from perceived benefits in future operations rather than current day benefits. The lifecycle for new products and technologies is also getting shorter with many new inventions being killed off early in the development process if immediate benefits are not attained. Access to capital is always an issue for technology firms as revenue streams are usually generated down the line and many technology companies need access to ongoing capital until revenue streams materialise. Other issues facing technology companies includes the disruptive influence of patent troll companies and the recent advances in microfinance and crowd funding opportunities now available to small and start up technology companies.

 

Industry Stats

  • The technology sector in Ireland currently employs over 105,000
  • Technology is a leading industry for the export market, current responsible for 40% of Ireland total exports
  • Ireland has a thriving indigenous digital technology sector than employs more than 30,000 and generates revenues over €2bn according to the Irish Software Association
  • Recent technology success stories include Stripe (payment process firm), Storyful (social media news agency) and Boxever (travel customer intelligence solutions)

 

Contact Us

Contact Avid Partners today on 014286900 to see how we can assist you with your technology business. Download our article on your area, book a place on our next industry seminar and make an appointment today to chat about your business with one of our expert Avid Partner staff.

Solutions Include:

Scenarios:

Yes Avid Partners have two divisions of the company. We have an accountancy division that handles your day to day financial necessities and we also have an advisory division to assist companies develop their businesses. This can include consultancy, marketing and guidance when required. We can act as a Chairperson for your organisation if required and can also take away some of the day to day pressures that can restrict growth and slow development. Avid Partners can help with both of the critical aspects of a company, keeping costs down as much as possible and growing revenues exponentially. Technology companies need patience in developing their visions and an involved day to day partner is the best way of keeping a good business balance.
It is a common problem for companies who are in a situation where their business is growing in real terms (users, visitors) but sales is not matching the other growth metrics as traditionally sales lags behind growth (Twitter, Linked In, etc). So what do you do? Every business needs access to finance to pay operating costs which gives the company time to develop future revenue streams. Thankfully the situation is getting better with many tech friendly finance options coming on stream such as micro financing, crowd funding and government agencies are also starting to show support interests.
Every company starts out small with very limited resources at the beginning of the project. The key is to make the most from the resources you have and to seek out alliances, support systems and working partners. Start ups face many challenges including access to capital, regulatory requirements, economies of scale. We can help you develop your concept and will assist in every way possible from accountancy and day to day support to advisory services and raising finance. We can assist in a number of ways and have a portfolio of growing small companies that we help on an on-going basis.
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