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Annual Report 2008

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Annual Report 2008 Annual Report for the year ending 31st December 2008 Investing in your Future Supporting the Creation & Development of Local Enterprise Student Enterprise Awards 2008, Junior Category 1st Prize, Word of Mouse Marketing, Heather Supple, Krishne De and Bookmark Boys, Crescent College Comprehensive Agnes Relihan National Student Enterprise Awards 2008, Most nnovative Launch of LCOEB website, Jimmy Feane, Krishne De and Product, Grip n' Lift, Coláiste Chiaráin, Croom. Agnes Relihan 2 Contents Chairman’s Foreword ................................................................................................. 3 Report of Chief Executive Officer .......................................................................... 4 Background .............................................................................................................. 5- 6 The Structure of the Board ...................................................................................... 7 Measure 1 – Selective Financial Assistance ...................................................... 9 Approvals ..................................................................................................................... 11 Payments ..................................................................................................................... 15 Measure 2 – Entrepreneurial and Capability Development ..................... 17 Customer Care Charter .......................................................................................... 21 Accounts & Financial Statements ........................................................................ 24 Limerick County Enterprise Board, Lissanalta House, Dooradoyle, Co. Limerick Tel: 061 496520 Fax: 061 583954 Email: [email protected] www.lcoeb.ie 3 Chairman’s Foreword I would like to take this opportunity to thank development company which has been given my fellow Board Members and the Staff of the the task of purchasing small parcels of land Board for their assistance and dedication that can then be sold back as serviced sites to during 2008. It was apparent from the start of local entrepreneurs at no profit. This strategy the year that the winds of change in the Irish will be further enhanced by the development economy were blowing hard and that the of Community Enterprise Centres in Croom, credit crunch was starting to affect businesses Ballylanders, Broadford, Kilmallock and in Co. Limerick. Several projects that had been Kantoher. The Board supported applications approved for Capital Investment Grant aid from these areas to Enterprise Ireland in 2008 decided to defer their decision to invest in and I am delighted to report that Enterprise capital equipment as a direct result of changed Ireland subsequently approved over €2.25 market conditions and the lack of matching million in respect of these projects. funding. Finally, I wish to assure all Co. Limerick It proved a difficult task to find eligible entrepreneurs and would be entrepreneurs of projects to reallocate this funding while getting the Boards continued commitment to support value for money at the same time. I can and foster enterprise development throughout honestly say that this was achieved but it does the county. I would like to thank all the raise the question as to whether the eligibility agencies and groups that worked with us criteria for direct grant assistance are too during the year and look forward to their restrictive in the current climate. support again in 2009 as the synergies of On a more positive note I would like to working together will achieve more than the Jimmy Feane CHAIRMAN thank my colleagues in Limerick Co. Council sum of our individual actions. for their support in setting up a new 4 Report of Chief Executive Officer As outlined in the Chairman’s report, 2008 The general economic position is also heralded the end of the so called “Celtic Tiger” reflected in the number of jobs created in era and a move in the national economic Enterprise Board assisted companies during position from one of net growth in GDP to that 2008. Overall, the total net job creation for the of recession. This combined with a world credit period showed a net loss of 37 jobs leaving crunch and a loss in competitiveness resulted the total net number of jobs created in in unemployment numbers increasing as the Limerick CEB assisted companies to 1,059. year progressed. Initially the construction sector The total number of participants on courses was worst affected as the situation worsens, increased from 540 in 2007 to 829 in 2008. no sector of the economy is immune. This gives an indication of the Boards For Limerick Co. Enterprise Board, these increased level of activity to meet the demands changes have had a significant effect on the of a changing economic environment. way we do our business and the types of I would like to thank the Chairman, Board supports we offer. Our Training and Members and Staff for their dedication and Management development programmes have commitment to the work of Limerick Co. been re-organised to focus on two main areas, Enterprise Board in what can only be described assisting start-ups and supporting existing as a difficult year. I would also like to reassure businesses. Business mentoring now plays a the enterprise community of Co. Limerick of key role in helping some businesses to my commitment to use all available resources appraise their current position and guide them and contacts available to me, to improve Ned Toomey out of trouble. Indeed, in some cases this type where possible, the economic climate in the CHIEF EXECUTIVE OFFICER of intervention is far more valuable than direct county in 2009. financial assistance and some will need both. 5 Background Limerick County Enterprise Board is one of 35 Boards established throughout the State under the Operational Programme for Local Urban and Rural Development 1994/1999 and given legislative status by the Government under the Industrial Development Act 1995. 6 Background The Board consists of 15 members appointed by the Minister for Enterprise and Employment and these members represent the different interests in County Limerick as follows: Members of Limerick County Council 4 Social Partners (IBEC, SIPTU, Farming Organisations) 3 Nominees of Agencies (Teagasc, FÁS, Fáilte Ireland, County Manager) 4 Ministerial Nominees 2 Other Nominees (Ballyhoura Development Ltd., West Limerick Resources Ltd.) 2 The Board held its inaugural meeting on the 5th October 1993. This measure is designed to support the development and It was incorporated in the Companies Office as a Company competitiveness of local enterprise and promote the move of limited by guarantee on the 26th September 1994. such enterprise up the value chain. The funding for this measure includes support from the European Regional Development The raison d’être of County Enterprise Boards was described by Funds. the then Minister for Enterprise and Employment, Mr. Ruairi Quinn T.D., at the launch of County Enterprise Initiative in Under the micro enterprise measure, two different areas of action Autumn 1993 as follows : are prescribed under which County Enterprise Boards are permitted to issue funding. The two measures are as follows: “The objective of the County Enterprise Boards will be strategic and the funding available to them should provide MEASURE 1 a new source of much-needed support for local enterprise Selective Financial Intervention: financial assistance to projects. initiatives. The County Enterprise Boards have been given clear enterprise and job creation objectives and are MEASURE 2 responsible for business areas not already covered by the Entrepreneurial and Capability Development: training, promoting State Industrial Development Agencies.” an enterprise culture and mentoring. The County Enterprise Boards are funded under The Innovation & Knowledge Economy of Ireland’s EU Structural Funds Programmes 2007-2013 7 Structure The Board has a total membership of 15 and constitutes a local partnership of elected representatives, the social partners, community representatives, the employers sector and representatives of State Agencies. 8 Structure The Board members are as follows : James Feane Assistant County Manager Fachtna O’Driscoll Teagasc Mary Fitzgerald Fáilte Ireland Phyllis O’Halloran Ministerial Nominee Shay Riordan West Limerick Resources Limited Noreen Ryan Limerick County Council Peter Clifford FÁS Brigid Teefy Limerick County Council Michael A. Connelly IBEC/CIF Frank Prendergast S.I.P.T.U. Michael Collins Limerick County Council Mary Harty Limerick County Council Carmel Fox Ballyhoura Development Liam Woulfe I.C.O.S. Mary Kelly Ministerial Nominee Mary Wixted Enterprise Ireland The Board is supported by an Evaluation Committee of 5 members, which makes recommendations to the Board in relation to applications for grant assistance. The members of the Evaluation Committee are:- Judy Tighe Allied Irish Bank, Newcastlewest Catherine Hogan Enterprise Ireland Sean Murphy Business Consultant Oliver Killeen Limerick Co. Council Mary Rogan Bank of Ireland, Limerick Executive and administrative back-up to the Board and the Evaluation Committee is provided by a staff of 4 persons. Ned Toomey Chief Executive Officer Michael Cantwell Assistant Chief Executive Officer Agnes Relihan Business Advisor Heather Supple Office Manager 9 Measure One SELECTIVE FINANCIAL ASSISTANCE The following are the statistics in relation to applications received and processed by the Board during the period 1st January, 2008 to the 31st December,
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