We’ve all been told at one time or another that "it’s not what you know but who you know" that counts. Now, while there is no substitute for real knowledge and expertise, it certainly helps to have a highly developed network of contacts.
Sitting here on Europe’s periphery in a relatively small market, the ability to ship our products and services overseas is vital, both for the economy as a whole and for individual SMEs. If your business has hit a ceiling at home, then export may be the only way to take things to the next level.
Crowdfunding, crowdlending, marketplace lending, P2P lending, online lending, AltFi. These are all terms that Irish business owners are hearing more and more. As FinTech (Financial Technology) continues to transform the traditional financial landscape, SME owners need to understand these terms, particularly P2P lending.
Topics: P2P Lending
Time is money. When you’re driving your own business you will need to wear many hats. You'll be making financial strategy decisions one minute, and unloading a delivery or answering phones the next. When you're trying to keep so many plates spinning, it can be difficult to focus on what's truly important. It can often feel like there are not enough hours in the day.
It might surprise you but even in this digital age, up to a third of Irish SMEs still don't have a website and about 90% have no e-commerce capabilities. A lack of in-house skills is often cited as a major obstacle among those businesses with no online presence. But in an era of easy access to information there really is no excuse...
All entrepreneurs expect their business to be a success. Thriving and memorable SMEs emerge all the time. Yet the statistics show that only 20% of SMEs in Ireland survive their first five years. So, what is the difference between SME success and becoming another statistic?
Irish SMEs now have more choice than ever before when it comes to business loans. The digital age has brought with it a wave of new specialist providers who are bringing easy applications, quick decisions and more competition to the market.
It’s often claimed that Albert Einstein thought compound interest to be ‘the most powerful force in the universe’. Now, whether or not he actually said that is a matter of some debate. Whoever came up with the statement, however, wasn’t far off the mark.