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Almost 92% of businesses experiencing decline in revenue

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In association with Chambers Ireland national survey, Tralee Chamber undertook a survey of businesses in Kerry and today (Tuesday) published the results.

The survey sought to quantify the impact of COVID-19 on businesses right across the county.

Nationally the survey has over 1,000 responses (1,110) and was conducted between the afternoon of March 19 and Monday morning (yesterday), with 10% of the national results from Kerry (105 businesses).

Today’s results will inform the advocacy of Chambers Ireland and Tralee Chamber, on behalf of businesses throughout the country and provide guidance to the Government on next steps required to support business through the crisis.

The headline results for Kerry are:

• 92% of businesses see their revenue declining over the coming three months
• 72% of businesses expect their revenue to decline by in excess of 25%
• Cashflow, revenue, and staffing are the critical issues for businesses
• Cashflow and revenue are of greatest concern to sole traders, and micro-businesses (<10 employees) [This sector accounts for in excess of 92% of businesses, and 69% of jobs in the workforce) • Temporary closures impacting 50% of the businesses surveyed (hospitality and tourism in particular) • Staffing is of concern to certain sectors, particularly digital, agri-food, transport, and retail. • Every part of the county feels affected. “The survey results out today replicate what we have been dealing with over the past 10 days in Kerry as the tourism, hospitality, services and small retail sector have been severely hit, with over 92% of businesses that replied showing dramatic fall off in revenue, and a wave of temporary closures,” Tralee Chamber Chief Executive Ken Tobin said. “As we publish these results, we are expecting further announcements from Government of tighter restrictions on how people move around and interact with each other. This will further impact the business community, and undoubtably affect even more employees. Sentiment in the business community can only be expected to decline in the days and weeks to come. “A significant and radical response by the State to support businesses and local economies right across the island is required. This must be far-reaching and unlike any intervention we’ve seen before. These are unprecedented times and therefore need an unprecedented response.” Tralee Chamber and the wider Chamber’s Ireland network are engaging with Government to give businesses and the self-employed a lifeline immediately, and when the Coronavirus threat passes ensure that the businesses community is supported through further state interventions. “Employers’ are job creators, without whom we would not have an economy and would not be able to support the economic well-being of citizens. For jobs to be restored following the crisis, our members will need as much support as possible to re-boot the economy.” Under-reacting to this crisis is now the greatest risk, he added. “This crisis will pass, our economy will recover, but we cannot afford a chaotic recovery. Deferrals and moratoriums on VAT, commercial rates and other changes must last for the duration of the crisis at a minimum. The business sector also requires greater clarity on insurance. We call on Government to work with the insurance sector in providing solutions for the business community.” The pace at which Government departments and agencies are operating at to respond to the crisis is applauded but it is important to ensure that the detail of schemes announced are carefully considered and communicated. When this does not happen, it adds to the confusion and uncertainty facing our local economies. Finally, as is highlighted in the results of our Network survey, cash-flow will be critical to surviving the crisis, he explained. “We reiterate our call to all Government departments, agencies, local authorities, State and semi-State bodies to pay invoices at the earliest opportunity. Government must take the lead on this and make a clear statement on the urgent necessity that all State bodies settle all outstanding bills promptly. As a Network, we stand ready to work with the State to meet the challenge of this crisis and support the business community through it." [audio m4a="https://killarneyadvertiser.ie/wp-content/uploads/2020/03/Audio-File-Ken-Tobin-24.3.20.m4a"][/audio]

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The same but different – A tribute to three great Irish musicians

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Driving home from work last Friday, tributes for Shane McGowan were pouring out across the radio stations and while listening in, I got a strong sense of déjà vu.

It was only a few months earlier that we got the sad news that the talented Aslan front man Christy Dingham had passed away, and a short few weeks after that – Sinéad O’Connor.  The loss of three iconic Irish musicians that left music fans across the country reeling.

When I think about each artist individually, their personalities couldn’t be more different. Yet, for days after the passing of the Pogues frontman, I found myself wondering why I was so drawn to all three.

And then, over the weekend I stumbled across a completely unrelated article which led with a headline:

“In a year dominated by artificial intelligence, deepfakes, and disingenuity, “authentic” has somehow emerged as Merriam-Webster’s word for 2023.”

And there was my answer. The one characteristic that embodied all three of these great Irish musicians.

It was my mother that first introduced me to Aslan’s music. She grew up during their peak and loved all sorts of rock music. I regularly watch their Vicar Street performances back on YouTube and still get mesmerised by Christy’s intense stage presence. Using elaborate hand gestures to evoke a greater meaning behind the words, he always looked like he was away in his own world. Off stage, and particularly later in his career, I admired him for his honesty when talking about his struggles with addiction and mental health. He was talking openly about these issues long before it was the norm.

Sinéad O’Connor was another original soul who, because of her talent, was catapulted into a music industry consumed by artificiality; she was almost too pure for it all. I always admired her unwavering commitment to her beliefs. Her authenticity was evident in every aspect of her artistry. The way she unapologetically embraced her shaved head and boy-ish style, she challenged conventional opinions around beauty. Her music reflected her personal struggles and she never shied away from addressing issues of social injustice, religion, and gender equality. Her stances often drew criticism and controversy, but she always remained true to herself.

Shane MacGowan will always be remembered for his unfiltered nature, and while the lyrics of many songs were dark and gritty, there was also an element of empathy and compassion in what he wrote. Like Christy, he too struggled with addiction and mental health issues throughout his career. While his demons sometimes spilled over into the public eye, his honesty and vulnerability just endeared him even more to us Irish.

So isn’t it apt in a year we lost three great musicians, the word of 2023 happens to be the one undeniable trait that they all shared. Thank you Christy, Sinead and Shane for showing us that authenticity is not just about being different to everyone else; but also about possessing the courage to challenge the established, to question the norms, and to keep going, even when the going gets tough.

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Full employment, minimum wage set to rise, but locals still feeling the pinch!

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Warning: This article does not come with the usual bells, whistles and Christmas cheer you would expect at this time of the year.

Last week we asked our readers to take part in our Killarney Town Pulse Survey. We wanted to get a better understanding of local consumer sentiment and to get an snapshot of other issues impacting our standard of living. See a summary of our findings below.

Analysis

So, jobs are aplenty, the minimum wage is set to increase in 2024 and yet according to our findings, locals are not too optimistic about the year ahead.

Just 1 in 10 people reported that they are better off now than they were a year ago. Only 16% expect the economy to be in a better place this time next year and there seems to be widespread dissatisfaction with how the government are tackling key issues affecting our standard of living.

Hasn’t everything gone so expensive?

If I got a euro for every time I heard this the over the past 12 months I certainly wouldn’t be feeling the pinch myself! Generally speaking, people do not like to talk about their personal finances but people’s behaviour is changing under the current climate. We are so frustrated with the cost of everything we are venting at home, in the office, and even while out for dinner with friends. It is not a dig at local business, I know plenty of small businesses struggling to keep their heads above water too.

Inflation is a concern but the real worry is where prices will land

Consumers and businesses are dealing with higher interest rates that have come as a result of the Central Bank trying to tame inflation. Loan products such as mortgages and car loans are more expensive. The noise coming from these issues alone is enough to drown out any positive aspects of the economy.

Stubbornly high inflation is a concern for policy makers, but for the average Joe, we are more concerned about where prices will eventually fall back to. We can deal with some short term pain but with inflation stabilising and some early signs it may even be falling, a large percentage of our survey respondents expect prices to continue to rise. This is backed up by many economists predicting prices will never return to what they were.

It’s not clear how much wage increases have played into higher prices up to now but there is a general consensus that where business margins are tight, higher wages for workers will lead to sustained higher prices for consumers 

Government is failing on issues impacting our standard of living

Research published by the National Youth Council of Ireland last week showed that more than 7 in 10 young people aged 18-24 are considering moving abroad because they think they would enjoy a better quality of life elsewhere. We asked a similar question to locals in our survey and more than 50% of Killarney locals said that either they, or someone they know, is considering moving abroad. This is a sad indictment of our country today.

The pace of housing delivery is dampening young people’s hopes of owning their own home and is even making renting unaffordable. It is not just impacting the youth however, I know of business owners in Killarney where housing shortages are impacting their ability to attract and retain talent, Businesses can’t afford to pay them a wage that allows them to comfortably rent and live in Killarney.  

At the start of September we were reading about a major teacher shortage across the country. Graduate múinteoirí are now ditching Ireland for the Middle-East where their accommodation is often subsidised and their take-home-pay benefits from a largely tax-free society. 

This Wednesday we witnessed a staff walk out at UHK in protest of a recruitment ban in place by the HSE. Reports claim that there are over 90 clerical positions waiting to be filled at the hospital. It is no wonder with all of these added pressures that our nurses and doctors are heading Down Under for warmer weather and better pay and while you couldn’t begrudge them, the drain of health workers in Ireland is leaving those left behind working in stressful and sometimes dangerous conditions.  

It’s the uncertainty

The economy is in a strange place at the moment, we are not sure if it is growing, slowing or shrinking. It kind of feels like we are dangling off the edge of a cliff and one big gust of wind could  push us over the edge. The preferred outcome is that we will be pulled back to safer ground but can this government gets to grips with the major issues impacting our standard of living and get the cost of living down to a more tolerable level?

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