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Recession

33% Increase In Insolvencies – Five Companies Went Bust Each Day In February

New statistics compiled by InsolvencyJournal.ie this week reveal a significant increase in insolvencies in February. The number of companies that went out of business last month was up by 33 per cent from 110 in January to 146 in February with approximately five businesses per day going bust last month.

Mar 2, 2010

Preparing Companies for Liquidation

A Company facing an inevitable insolvency can present a difficult and stressful time for its Directors on a number of levels. Despite the understandable turmoil that they may be experiencing it is important that the Directors of the Company take professional advice to ensure that they meet their legal obligations.

Feb 16, 2010

Average Payment in Ireland Takes 75 days!

The Director of the Small Firms Association (SFA), Patricia Callan, has said that late payments in Ireland are worsening and are compounding an already difficult financial environment for many small firms. The SFA Winter Credit Conditions Survey highlights the challenges that are being experienced by small businesses in relation to late payments. Callan said: “in Ireland, from the time a firm issues an invoice to the date it is settled is now on average 75 days (up from 66 days in our Autumn Survey).

Feb 16, 2010

Sharp Improvement in Irish Consumer Sentiment in January

Irish consumer sentiment showed a surprisingly strong improvement in January. The KBC Bank/ESRI Consumer Sentiment Index rose to 64.6 from 53.3 in December, boosting the Index to it’s highest level in two years. The 11.3 point increase was also the strongest monthly change since a similar rise in December 2004. While this increase looks almost suspiciously large and there may be some pullback in February, the January data suggest a clear brightening in the mood among Irish consumers.

Feb 16, 2010

Majority of Irish businesses planning to continue restructuring in the year ahead

A poll carried out by PwC with the Dublin Chamber of Commerce revealed that business restructuring continues to be a significant challenge for nearly two-thirds (64%) of Irish businesses.

Feb 2, 2010

Irish Economic Update 2010

Incoming news in recent months has prompted us to make another upward revision to our forecasts for Irish economic growth for this year. We now see GDP growth at -0.5% this year vs. -2.8% previously.

Feb 2, 2010

Live Register Total Hits a New Record High

The latest Live Register figures for December were a bit weaker than we had been expecting. The number of unemployment benefit claimants rose by 3,300 in the month, on a seasonally adjusted (SA) basis. Thus following the 3,000 fall in numbers signing on in October (the first since March 2007), the cumulative rise of 4,200 in November and December has more

Jan 19, 2010

Budget Boosts Irish Business Confidence

The Winter Business Sentiment survey produced by KBC Bank Ireland and Chartered Accountants Ireland suggests that the economy may be starting a gradual turn even if there is still weakness in terms of activity and employment. Commenting on the results, Mr. Tom Fitzpatrick, President, Chartered Accountants

Dec 22, 2009

GDP rises by 0.3% in Q3 but little evidence of an end to recession

Today’s National Accounts data sent mixed signals about the recent performance of the Irish economy. No doubt there will be considerable interest in the fact that the CSO have estimated that the economy expanded in the third quarter in GDP terms, albeit that the increase was a modest one at 0.3%.

Dec 22, 2009

Set our entrepreneurs free

What are we going to do with small businesses that are flirting with bankruptcy? This week, I have had numerous ‘end-of-season’ conversations with businesspeople about the state of the nation. One of the recurring subjects was what are we going to do with the thousands of businesses that are close to going bust.

Dec 22, 2009
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Banking 2012 - Preparing for a Revolution

From 2000 to 2007, the developed economies’ top-performing banks had an average return on equity of 26 percent. Today, many of these same banks are looking at returns of 4 percent to 5 percent—if they are still in business.

Nov 23, 2009

A third of Irish business leaders expect an upturn as soon as 2010

Nearly a third (32%) of Irish business leaders expect their operations to return to growth in 2010 with 44% expecting the upturn to happen in 2011. This is according to PwC’s Business Sentiment Snapshot Survey carried out at their annual 2009 Client Conference ‘What next for Ireland’ held on Monday and Tuesday 9 and 10 November 2009. Over 800 leading executives from Ireland’s top companies participated in the survey.

Nov 23, 2009
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110% increase in redundancies to end October

Commenting on the 110% increase in redundancies to end October in figures released by the Department of Enterprise, Trade & Employment this evening, the Director of the Small Firms Association, Patricia Callan, said...

Nov 10, 2009

Constructing PMI - Further Substantial Decline in Activity

Nov 10, 2009

Creditors meetings – Avoiding the Pitfalls

The rapid decline in our economy has seen a dramatic increase in the number of insolvent companies. During 2008, the total amount of Creditors Voluntary Liquidations was 773, by the end of August of this year, a total of 983 companies have already gone into Liquidation via this method...

Oct 13, 2009

ECB Still Some Distance From the Exit (Strategy)

Oct 13, 2009

Download attachment(s): [ ECB_still_some_distance_from_the_Exit_Strategy_08_10_09.pdf ]

Plans, Profits and Robbers

In February 1950 Frank MacNamara and his lunch colleagues decided to stop paying cash for their lunches at Major’s Cabin Grill, New York, and made the first charge to a credit card company they had formed – Diners Club.

Sep 29, 2009

Growth Data Suggests Irish Economy is Bottoming Out

Growth data for the second quarter of 2009 lend further support to the view that the Irish economy is probably past the worst in terms of the scale of decline in activity. A period of broadly stable if uncomfortably weak conditions rather than a marked improvement seems to lie ahead for the remainder of this year and well into next.

Sep 29, 2009

Ulster Bank Construction PMI

Today’s Quarterly National Household Survey (QHNS) for the second quarter of this year provides an important update on the state of the Irish labour market.

Sep 25, 2009

Q2 Quarterly National Household Survey

Today’s Quarterly National Household Survey (QHNS) for the second quarter of this year provides an important update on the state of the Irish labour market.

Sep 25, 2009

Quarterly National Accounts

The Irish economy continues to experience a sharp contraction, with GNP and GDP down 7.4% and 11.6% respectively in the year to the second quarter…

Sep 25, 2009

Consumer Sentiment Marginally Lower in August

The overall KBC Ireland/ESRI Consumer Sentiment Index weakened to 48.7 in August. This compares to a figure of 49.5 in July 2009, and to an all time low of 39.6 reached in July 2008.

Sep 10, 2009

74% of small firms believe second rejection of Treaty would have very negative impact

“Ireland must be at the centre of Europe, not just for the opportunities it has given us in the past, but the many opportunities it will give us in the future!”
Dr Aidan O’Boyle, Chairman, SFA

Sep 10, 2009

Monthly increase in inflation in August - the first since September 2008…

The latest consumer price figures for August show that prices rose by 0.4% compared with July, to leave the annual rate unchanged from a month earlier at 5.9%.

Sep 10, 2009

‘Bumpy Road’ Means ECB In No Rush To Raise Rates

Trichet signals that worst may be over but recovery is likely to be ‘uneven’. ECB new forecasts - growth in 2010 will be marginally positive rather than marginally negative – an improvement but not dramatic.

Sep 10, 2009

What did the winners in the last recession do right?

Although the past decade’s record-setting economic growth temporarily obscured the reality and, indeed, the importance of recessions, recessions are a fact of business life. The current business environment is a reminder that managing during times of economic turmoil is a critical business capability....

Sep 1, 2009

Full-year budgetary targets look ever-more challenging

July was a disappointing month in terms of tax revenue, with receipts some €387 million behind the Government’s monthly profile published as recently as the end of April...

Sep 1, 2009

Dublin to host Inaugural International Financial Services Summit – IFSS 2009 to addresses global financial crisis

On November 5th 2009, some of the most influential leaders in global financial services will gather in Dublin for the inaugural International Financial Services Summit, to addresses global financial crisis....

Aug 30, 2009

National Competitiveness Council publishes Competitiveness Benchmarking Report

The National Competitiveness Council (NCC), which reports to the Taoiseach on key competitiveness issues facing the Irish economy,......

Aug 23, 2009

Liability under a Personal Guarantee

The most important thing to realise about guarantees is that when it comes to payment, the liability of the guarantor will include the unpaid principal and interest, which continues to accrue at a compound rate of interest...

Aug 18, 2009

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