INNOVATING & ADAPTING

In a Challenging Business Environment

Jim Fox,

ACEO, Cavan County Enterprise Board

7th May 2009

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County & City Enterprise Boards

Background

• Established 1992/1993

• Difficult Economic climate

Spiralling unemployment (15+%)

High Interest Rates

High Business Failure Rate

High Emigration (not returning)

• Identified Gap in support services

• Need to act urgently

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County & City Enterprise Boards

Structure

• Statutory Bodies – Industrial Development Act, 1995• Board – 14 Members• Social Partnership Model (Elected reps/social partners/community reps)

Staff

CEO – Vincent Reynolds ACEO – Jim Fox Business Advisor – Marcella Rudden 2 admin.

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ROLE/FUNCTIONS

Statutory function is to stimulate economic and entrepreneurial activity at county level and to develop local indigenous enterprise potential.

• Lead agency for micro enterprise (≤10 employees)

• Promote local economic development

• Pilot new initiatives to promote entrepreneurship

• Maximise commercially viable new business start ups

• National Agencies – Enterprise Ireland (EI), FAS etc. • Other locals e.g. LEADER/Partnership=Breffni Integrated

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KEY ACTIVITIES/SERVICES• Business Information & Advisory Service

First Point of Contact

•Promote Enterprise Awareness/culture – seminars/awards/schools/Enterprise month/Cavan Enterprise Network etc.

• Mentor, Counselling & Guidance & Clinics

• Business Training Programmes–from sales to TAS

• Financial Supports for priority business sectors

•Other – various e.g. Tech-check IT audits/e-commerce Tradeshow supports/sectoral supports e.g. 315 Foods

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CEB - Financial Incentives

Focus on manufacturing and Internationally Tradable services/capacity for growth and job creation/ business

plan proving commercial viability/no risk of displacement

•Capital Grants – up to a maximum of 50% of cost of eligible fixed assets, to a limit of €75,000, (circa 30-40% of sum approved is refundable) ; or

•Employment Grants – up a maximum of €7,500 per additional full-time job;

•Feasibility Study Grants – up to a maximum of 60% of costs, to a limit of €6,350.

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Performance in figures (93-08)

• Assisted in creation of 1,200 new jobs across Cavan

• Over 500 projects financially supported

• €7.2m million in financial supports

•c. 300 people attending business training programmes annually

•400 students annually now participating in Enterprise training programmes organised by CCEB

•Leveraging funding for other initiatives/programmes incl. 60,000 sq.ft. of enterprise space

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Border/All Island Programmes

• Tradelinks

•Cross border Programme (mentoring)

•Stg.£3million (2009/2011)

• Microtrade

•All Island programme (Intertrade Ireland/CEBs/ENI)

• ACUMEN Programme

•Cross border market and sales development• West Cavan / West Fermanagh Econ. Regeneration

• Breifne•€2m+•Geopark

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Cavan County Enterprise Fund

• Incorporated in 1988

• Replicated in six border counties

• support from the International Fund for Ireland

•Focus

Soft loan finance

Affordable Workspace

Example: Cootehill (€2.5m investment)

Existing – Killygarry Cavan, Cootehill, Blacklion,

Killeshandra. Plus CITC- New Partner (2008) Social Finance Foundation

Approved SLO

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Cavan Innovation & Technology Centre

• CITC - State of the art facility for distance learning/outreach and

corporate training

• Developed by Cavan CEB in conjunction with Cavan County

Enterprise Fund in 2003

• Key provider of leading edge, relevant and custom designed

education and training programmes

• Aimed at managers and key personnel in businesses located in

Cavan and the wider region

RATIONALE• Lack of access to University and ITs as support to industry

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Cavan Innovation & Technology Centre

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Cavan Innovation & Technology Centre

Strategic Objectives

• Encouraging more effective investment by

employers in training and development to build

necessary work-force skills

• Providing local access to third level (part time) under

grad and post grad programmes• Develop strategic partnerships with universities e.g.

UCD/UU/UL/IT Sligo/Portobello College

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Cavan Innovation & Technology CentreOther Programmes•Skillnets – launched April 08

€400k 69 member companies

•HATTCH €1millionConstruction workers, Financial Services, Migrant Workers & Female Entrepreneurs.

•New Courses•Diversification to meet the needs of the changing economy

Wind Turbine TechnologyRenewable Energy ApplicationsQualified Financial Advisor

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Current Challenges

• How to inspire confidence?

•Encouraging Entrepreneurship

Acknowledge and Reward Risk (takers)

•Access to capital – CEB’s/banks/CUs/CCEF/First Step /BES&SC Dept.Agri/LEADER/bordbia/Intertrade/businessangels/EI incl. CEC schemes

•Skills Development

Smart Economy

Lifelong Learning – retraining

Flexible / adaptable workforce

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Who are the Entrepreneurs?

• Creative/risk takers/positive thinkers/results

oriented /motivated/energetic/confident/

Have vision/leadership qualities / and a

tolerance for risk

WHY NOW/WHY EVER?

• Control/Independence/Challenge/Sense of

Achievement/Self belief/Seizing an

Opportunity /Money

Next SYOB Training programme – 27th May

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What business or sector?

• Client’s Skill-set and experience

•Growth industries –

e.g. Energy / food / technology

•Innovative products/services/channels

e.g. Niches / avoid “me-too products”

•Export focused if possible

•Business planning not just a plan

•Some Innovation supports –

•CEBs – Feasibility study grants/mentoring

•EI – Innovation vouchers with colleges

•Intertrade Ireland – Fusion programme

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Cavan Enterprise County Award winners

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1998 Shalvey’s Poultry products

1999 Airpacks Ltd

2000 Obelisk Communications

2001 Ace Corrugated Ltd

2002 O’Donnell Enterprises

2003 Sheelin Meats Ltd.

2004 Paul Quinn Engineering

2005 Ace Corrugated Ltd

2006 Cavan Country Produce

2007 Crannagh & Co. Inter. Trade & Business

2008 Ballytherm Ltd.

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Thank You

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