Im having difficuly raising finance for my business. What are my options?
Many businesses are still having difficulty raising money to grow their companies. When seeking finance be as diverse in your product categories' as you can so that lenders can see you're not exposed to a high risk investment category. Show clearly that you are in a position to repay any borrowings and demonstrate what the capital will be used for (new equipment, materials, marketing, premises, etc). The more detail you can include the clearer it will be for the lending's committees to judge your application favourably.
Are there many Governmental Construction Projects that our company could get involved with?
Yes. The vast majority of governmental construction and building work has to go through a formal tending process with the most suitable company selected as the preferred bidder. These contracts can be small and large in scale and bidders usually have to have a track record of work in the specific area and be of sound financial standing. You can keep track of such available work at www.etenders.gov.ie. There can be a lot of hoops to jump through but if the project is valuable to your organisation and you have the time to make a quality submission then apply. You may be the best fit for the job.
After many years of stagnation im finally in a position to start growing my business again. Where do i start?
Many industries undoubtedly took a battering during the downturn and many had to cut costs and staff just to survive. Now that the green shoots are starting to emerge and the sector will likely grow this year many of our clients have revert back to an expansion mentality with an emphasis on growing their business rather than cutting costs. The companies that have come through the tough times now see opportunities on the horizon with pent up demand and increasing disposable income . Also a reduction in competition will give existing operators a head start in the sector before the inevitable new entrants as the market picks up.
400 New Construction Jobs Announced
An example of new jobs being created in the construction sector by the expansion of successful indigenous companies. The construction sector is poised for growth in 2014 with new companies now getting ready for what could be an upcoming mini property boom in the coming years.
Rise & Fall of the Construction Industry in Ireland
Documentary of the boom years in Ireland and the rapid collapse of the economy, which hit the construction/development industry across the country. Billions of euros were lost and individual property developers /agents were left with huge debts and home seekers were given cheap mortgages which have since been lost.
Irish Construction Sector Begins to Pick Up
It was building too many houses that got Ireland into an economic mess and needing a bailout, but the latest figures show a buoyant construction sector was behind strong growth in the economy in 2013.
O Loughlins Hotel
I met Avid Partners through a local business networking group. We had been using the same accountants for years and found that in these harsh economic times that we were not getting good enough value or service. We were very impressed by the company's professionalism and enthusiasm and genuine interest in helping us get the most out of our business. As a result we are now clients of Avid Partners and are thrilled with our decision.
There are a number of low cost hotels in our area and we are finding it hard to compete. What can be done?
In the last number of years due to the abundance of hotels and guest houses in the market and with the impact of NAMA run hotels driving down prices to fulfil their remit of keep the doors open, we have reached a situation where prices have bottomed out for many operators. For many any further pressure on prices will mean offering room rate as lost leaders to get people into their premises. As the industry continues to sort itself out and as state owned hotels revert back to privately run business the situation should improve and an emphasis on value for money will return over the lowest market prices.
Our occupancy rates are starting to increase again and we see some growth returning to the sector. What areas do you think we should target for further growth?
There has and will continue to be a divide in hotel occupancy between the popular tourist areas and the rural local hotels. Depending on where you are in the country you will need to adopt more of a "pull approach" to your hotels marketing activities to ensure that potential customers are reaching your shores. Specific areas that you can promote your hotel around include growth areas like: weddings, cultural tourism, festivals and events, food tourism, eco tourism, adventure tourism, short breaks, sports tourism, leisure pursuits, spa and wellness breaks, english language learning, developing markets (China), e tourism, business/corporate activity and the retirees market. Pick the targets that your hotel can cater the best for and be aggressive. Don't wait for your ship to come in, swim out to meet it!
In your experience what hotel tips would you give for being the best they can be at their job?
In our experience there are a number of areas a hotel owner or manager must be competent at in order to run a successful business. These include:
• Building & Leading a great team
• Always be prepared to learn and improve
• Greet your guests in person wherever possible
• Be prepared for emergencies and learn to problem solve
• Build strategic relations with other industry companies
• Be good at Internet Marketing
• Ensure the hotel is properly equipped and to modern standards
• Set standards for all staff to follow
• Accept if not always agreeing with the adage "the customer is always right"
• Keep the hotel clean and tidy
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"A breath of fresh air. Your firm demonstrated enormous commercial understanding in turning around negotiations with a potential target vendor. I admire your style and ability to drive the deal forward. Many thanks."
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"I would like to say I'm very happy with your service, especially the audit team, your staff are always friendly, helpful and a pleasure to deal with."
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"Your business approach to clients is very impressive. I have always found that when explaining the types of service on offer, it is always concise and straight forward. The level of trust that clients place in your company and its staff speaks volumes."
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"I would like to take this opportunity to say how much we are impressed with your company's professionalism, it has been a pleasure working with you all and we look forward to working with you in the future."
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"Avid Partners - Accountants & Business Advisors are an excellent firm of accountants, their quality ethos is outstanding."
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"I have dealt with Jamie O' Hanlon, of Avid Partners - Accountants & Business Advisors Chartered Certified Accountants, for a number of years as he is auditor to one of my clients. I have always found him to be professional and responsive in his approach."
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"Service is second to none; there is always someone at the end of the phone for any business advice. The staff are very easy to get along with, very approachable and know exactly what they are talking about"
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Having got to know the company through the BNI we decided it was time to change accountant. What impressed me about Avid Partners was their professionalism. Their attention to detail was second to none and as an added bonus they are a sounding board to all of my questions. Avid also potted some irregularities in my accounts from the previous few years and saved me substantial money on the years tax bill. Avid Partners deliver a first class service which is everything you could want from an accountant and I am happy to give this endorsement.
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We at Fitzies Bar have worked with Avid Partners - Business & Financial Advisers for over five years. We find that the advice and support offered to us in addition to all of our book-keeping requirements to include payroll, VAT, etc. is invaluable and has helped to contribute to our continued growth especially in these challenging times. I would have no hesitation in recommending Avid Partners.
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Jamie and his staff are a pleasure to work with. They respond promptly to any queries we have and are critical to our financial planning and the future needs of our business. I would highly recommend them to anyone interested in accounting services.
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We at Stillorgan Cycles have used Jamie and his Team at Avid Partners – Accountants and Business Advisers for over five years. We have found that the retail advice and support offered to us is second to none and has helped to contribute to our continued growth especially in these challenging times. I would have no hesitation in recommending Avid Partners.
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I met Avid Partners through a local business networking group. We had been using the same accountants for years and found that in these harsh economic times that we were not getting good enough value or service. We were very impressed by the company's professionalism and enthusiasm and genuine interest in helping us get the most out of our business. As a result we are now clients of Avid Partners and are thrilled with our decision.