The Retail Sector

 

Avid Partners has a broad range of retail clients that we work closely with on an ongoing basis to maximise efficiencies in their business and to help them develop their businesses. We have worked with clients in sectors such as beauty, training, food and beverage, salons, electrical wholesalers, furnishings, supermarkets, boutiques, restaurants, cafes, catering, furniture and many others. We get to know our retail customers business intimately and work with them on an ongoing basis to make them as successful as possible. Whether it’s accountancy, a business turnaround strategy, ongoing business supports or a root and branch financial audit, Avid Partners can help you with your retail business.

 


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Retail Sector

The retail sector was one of the worst hit areas during the downturn and is only now finding its feet. Employment in the sector dropped dramatically from 2008- 2012 with a slight recovery in 2013. Sectors hit particularly hard included furniture & lighting, the motor trade, hardware and electrical goods. The retail sector is still being hampered by fluctuating consumer sentiment, lack of discretionary spending, legacy rent arrangements, lack of finance, fear of increasing interest rates (decreasing loan repayment capacity), high operating costs and lower demand (resulting in lower prices and operating margins).

Industry Stats

Retail is Ireland’s largest domestic industry and is also currently the biggest employer by sector. Every town, city and village in the country has a retail presence of some description and it is one of the few industry sectors that people engage with on a daily basis. Based on research conducted by Retail Ireland there are:

 

  • Over 44,000 retail businesses currently operating in Ireland (including wholesale).
  • 90% are being Irish owned and operated
  • Over 275,000 people are currently employed in the retail sector in Ireland (that’s close to 15% of the working population).
  • 77% of Irish retail business are family-owned enterprises.

Contact Us

Contact Avid Partners today to see how we can help you with your retail business. Download our article on your area and make an appointment today to chat about your business with one of our expert Avid Partner staff. Call us on 01 4286900 or email us at advice@avidpartners.ie.

Solutions Include:

Scenarios:

Yes we can. Operating costs are one of the biggest concerns for small businesses and can mean the difference between profitability and operating losses. High rents, staff costs and day to day cost inefficiencies can all add up and take its toll on the bottom line.
Avid Partners can do a root and branch review of your business and put forward a strategic plan on how best to expand. All of our recommendations will be fully costed with build in contingencies. We can point the way for you or help you implement the solutions whichever you prefer.
Absolutely. Through our Accountancy and Consultancy Services Avid Partners has helped many clients recover lost revenues and have assisted in helping companies not only get back to where they were but to grow beyond what they had.
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