AS WE APPROACH the one-year anniversary of when Ireland went into its first lockdown, businesses are continuing to learn to adapt to the ever-changing economic climate.
This Local Enterprise Week, taking place from Monday March 1 to Friday March 5, the focus is #MakingItHappen. Local Enterprise Offices around the country have organised over 200 virtual events for small businesses, new businesses and potential businesses which will take place throughout the week, including 10 ‘Spotlight’ events which are open to every business – wherever you’re based.
Speaking at one of these 10 events is Ryan Margolin, CEO of Professional Hair Labs. A manufacturer and distributor of cosmetic bonding adhesives, shampoos and other hair/beauty products, the Wexford-based company was faced with closing its doors last March.
“We had to make a very quick decision because we weren’t really deemed an essential service, but we had the ability to manufacture,” says Ryan, “so we pivoted into the manufacturing of hand sanitiser.”
This change in direction allowed the company, which is supported by Local Enterprise Office Wexford, to keep its 24 employees, as well as enter another marketplace.
“We were operating behind closed doors, but we were able to continue to keep everyone in employment, keep the ball rolling and supply the marketplace with the shortage of sanitiser that was happening at that time. That’s led on to a whole other product range for us.
“The next 12 to 18 months are solely focused on the expansion of our contract manufacturing service. We have also just purchased a 12,000 sq ft warehouse space which we will be renovating for a larger lab and manufacturing and fulfilment area.”
Ryan says that the Local Enterprise Office in Wexford has been a great support in assisting with growth plans.
“Between employment and equipment, they have supported us in all of the key areas which have helped us maintain momentum.
I think, if anything, the last year has taught us that it’s okay to do things differently. And it’s okay to take chances… This last year has taught us that sometimes we just need to do a one new thing in order to go forward again.
Ryan will be speaking about managing your finances as a business at the ‘Masterclass: Health Checking Your Business for its Forward Journey’ event on Thursday March 4.
“The pretext for the masterclass is based around working capital, keeping your business in check and keeping your cash flow in check.
“What’s really key is here is making sure that you have your monthly employments, your wages and your percentages in line because they can very easily get out of hand – especially when you’re in production, if you have to extend production, or you have to increase production.”
As for how to adapt your business model during as difficult a time as during a pandemic, Eugene Greaney, co-founder of Galway pizza business The Dough Bros, will be sharing his expertise on the topic.
“The past year has been really challenging, but it’s turned out to be nearly a positive experience for us, madly,” he says.
When restaurants were faced with the first of the closures 12 months ago, the team at The Dough Bros took it as an opportunity to launch a product they had earmarked for years.
“We were in New York a couple years ago on a research trip and we saw a really class brand in America at a restaurant. They had a chilled pizza product that was far better than your typical kind of frozen or chilled pizza. We remarked that there could be something in that, and I suppose the pandemic brought that all forward.”
Now, with the help of a Trading Online Voucher from Local Enterprise Office Galway, the company is allowing customers to recreate the restaurant experience at home by selling DIY pizza kits with their signature wood-fired base.
“That business itself, which kind of started as a way of filling the gaps or drop in revenue from the restaurant, turned to something that we see big, big potential in,” says Eugene. “In the midst of all this, we’re very excited about it.”
Organised by Local Enterprise Office Galway, The Dough Bros will be speaking at the ‘Building the New’ Spotlight event on Tuesday March 2 alongside a number of new business owners.
“The event is about how businesses pivot during the pandemic,” says Eugene. “We’ll be telling our story of how the restaurant model was kind of closed overnight as soon as the pandemic hit.
“We got working straight away on our products and we’ve kept working on improving them, week on week, tweaking the product, improving the product… It’s a very exciting space to be in and we want to just be pushing to be at the forefront of that new space.”
10 free Spotlight events not to miss this Local Enterprise Week
1. To learn about sustainable business: Benefits of Green for your Business, Monday March 1 at 9:30am
2. To lead through tricky times: Spring Back & Step Forward: Building Leadership & Resilience, Monday March 1 at 11am
3. To explore innovation: Building the New, Tuesday March 2 at 10am
4. To improve efficiency: Growing Lean: One Small Step or One Giant Leap, Tuesday March 2 at 2pm
5. To dive into AgriTech: AgriTech Revolution in Farming and Food, Wednesday March 3 at 9:30am
6. To develop online selling tools: Creative Connections: Enabling your B-2-B Online Opportunities, Wednesday March 3 at 2pm
7. To improve leadership skills: Engage for Growth with David Meade, Thursday March 4 at 10am
8. To learn about tech supports: S.M.A.R.Tech for StartUps, Thursday March 4 at 4pm
9. To assess the financial health of your business: Masterclass: Health Checking Your Business for its Forward Journey, Thursday March 4 at 7pm
10. To grow your online presence: Trading Online Voucher Information Webinar, Friday March 5 at 9:30am
Find out what programmes and supports are the best fit for your business in 2021 this Local Enterprise Week. Book your place at one of more than 200 Local Enterprise Week events today here. Together, we can make it happen. Local Enterprise Week is organised by the Local Enterprise Offices and supported by Enterprise Ireland, local authorities and the Government of Ireland.
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