Bank of Ireland holds “Investing for Business Growth” event
Over 65 business owners from the hospitality sector attended a Bank of Ireland National Enterprise Week event entitled “Investing for Business Growth” which took place on Spike Island, Cobh, Co. Cork this week.
16 October 2018
Bank of Ireland is hosting 24 events nationwide this week as part of the bank’s National Enterprise Week, with a view to helping local businesses across different sectors shape the best investment strategy for their business. An event for business people in the hospitality sector attended the event at Spike Island in Cobh, Co. Cork, with the bank’s head of hospitality Gerardo Larios Rizo saying the location was chosen because of Cork’s position as one of Ireland’s main tourist destinations.
“Cork has an extremely vibrant hospitality industry, and boasts many of Ireland’s top hotels and restaurants,” Rizo said. “Our event was designed to provide local businesses with the opportunity to hear from and connect with some of those renowned in their field.
“Additionally,” he said, “the event provided insights around hospitality sector trends, achieving growth and greater returns and enabling efficiencies.”
Also discussed at the event was the potential impact of Brexit, recent budget announcements and how best to prepare. “We are committed to meeting our SME customers’ needs around Brexit,” he said, “and enabling them to thrive at all stages of the business life cycle.”
Launched in conjunction with National Enterprise Week, new Bank of Ireland SME research shows that 78% of Irish SMEs are confident in their ability to borrow over the next twelve months, and almost one quarter (23%) already intend to borrow in the coming year. 34% of SMEs identified no change in their volume of borrowing in the last few years. Brexit is a concern for 48%, along with staff recruitment and retention worries, while 53% feel positive about the Irish economy in the next twelve months. More than half (57%) expecting their own turnover to grow.