Guaranteed Irish CEO Alumni 2023 Recap
Thursday 26th Oct, 2023 was the second CEO Alumni hosted by Guaranteed Irish in Euronext Dublin (the old Irish Stock Exchange). Sponsored by KPMG Ireland, the event had two keynote speakers- The morning keynote speaker was Minister for Finance, Mr. Michael McGrath T.D., who spoke to Ms. Sarah Carey, Broadcaster, Journalist with the Irish Independent who acted as MC on ‘Ireland’s Reputation Overseas as a Business Destination’.
Asked about the Budget by Sarah Carey, MC, the Minister replied that a balance was struck to support both homegrown and International businesses based here. With a .8% of income saved each year for global unexpected situations (covid, war, climate emergencies), it insulates Ireland somewhat as we face into more uncertain times. The move to 15% corporation tax for the FDI’s still ensures Ireland remains competitive but takes immediate pressure off. Angel Investment details is still to be tweaked; the Minister was keen to stress the Governments support for the Arts. CGT on family businesses will be eased in line with succession planning- though some in the room did not think that went far enough and discouraged family entrepreneurialism.
Education and Banking
In relation to Education - there was a feeling that while the €1,000 reduction in fees was welcome to everyone, did it go far enough to support college operational costs and the cost of third level accommodation which is sorely lacking?
A question arised about when Ireland will be able to attract more banks to provide a more competitive range of services to businesses and consumers. However, the Minister expressed the view that this prospect is a long-term goal and would necessitate substantial structural and regulatory adjustments.
Regarding the current bid to host the EU Anti money laundering body, it is felt Ireland has a real chance, but it needs to act fast to ensure success. Timing is an issue.
Support for Businesses
One Guaranteed Irish CEO asked where the support for the thousands of businesses is who fall between the supports given by the LEO’s and Enterprise Ireland - there is a raft of businesses who do not ‘fit’ into either camp and therefore are getting no supports. The Minister agreed that this needs to be reviewed and his officials are currently aware of this and addressing it.
Housing and Sustainable Growth
In relation to Housing the framework is being reviewed to increase housing output across private, public, cost rental and social etc. There is an awareness that housing development and building needs to be faster. Sustainable growth is the model being followed.
The afternoon keynote speaker was Vice Admiral Mark Mellett, Former Chief of Staff Ireland’s Defence Forces who spoke on ‘Sustainability Through Transformational Leadership’. The call for “courage” as leaders was made to lead in a transformational and sustainable manner in every action we undertake. He welcomed the input and leadership of Guaranteed Irish members but echoed the need for pace and innovative solutions at leadership level. You can listen to Mark Mellet’s full address on the Guaranteed Irish Business Podcast this week.
Meet the Winners and Insights
The Guaranteed Irish CEO Alumni event was to facilitate the winners from the last two years of the “Guaranteed Irish Business Awards” to meet and share trends, opportunities and meet investors and advisors to ensure their businesses remain competitive and continue to grow.
Leading business leaders based in Ireland, representing homegrown and International businesses, who have been awarded the Guaranteed Irish licence, were in attendance.
Winners from the Guaranteed Irish Business Awards hosted in March spoke on the impact of winning the awards and they included:
Charles Coyle - General Manager of Emerald Park
Sonia Deasy - CEO of Pestle & Mortar
The big bonus for the winners was that the application process forced them to review their own business and address issues on sustainability, staff recruitment and retention and their role in the community. The process also focused their minds on the business “purpose” in a way that supports sustained growth into the next generation.
Other panelists during the day included: Jonathan Eustace, Small to Medium Business Lead, Microsoft; Camilla Cullinane, Tax Partner and David O’Kelly, Corporate Finance Partner, KPMG; Daryl O’Byrne, CEO Euronext Dublin and Niall Jones, Head of Listing Ireland & UK, Euronext Dublin; and Joseph Collum - Manager of the Green Economy, IDA Ireland.