Looking forward – and reflecting! Two industry leaders from Limerick share their hopes for 2023

DONAL CANTILLON

Limerick Chamber president

From a business perspective, how positive do you feel going into 2023?

There’s a duality of business perspectives. The business environment became harsher and more competitive in 2022 underpinned by global issues such as an increased cost of doing business and skills shortages. All businesses struggled with the increased cost of doing business this year, as well as staffing issues, energy issues and so on. However, some businesses were slightly less able to absorb the increased costs than others, mainly those in the hospitality sector and those operating on smaller margins.

I think there will be two different perspectives going into 2023, some businesses have more orders and demand now than they had in 2021, and so they will grow providing they can get the staff. Alternatively, some businesses will be looking to the new year with the hope that costs begin to decline and the intense worry of energy bills and the like, seen over the last several months will begin to abate.

So, overall, there is a slight apprehensive positivity. That said the fundamentals underpinning the economy at a Macro level remain very positive so let's not talk ourselves into an economic slowdown and see how the year unfolds, if anything the last three years have shown how resilient businesses and the economy in general have been despite the various challenges, therefore, lets approach 2023 with cautious optimism.

Over the last 12 months, what has been the most significant change for businesses?

The most significant change is that businesses thought they were coming to the end of the Covid-19 crisis and then were thrown into another crisis in the form of energy price increases and cost inflation. This dealt a significant blow to businesses trying to get back on their feet. Many have managed to get through the past year with the introduction of the energy support scheme but it isn’t sustainable in the long-term and therefore some tough decisions may have to be made. Housing remains a key issue also.

The ability to attract and retain staff begins with housing, unfortunately this is an issue that most of the country is dealing with and appears to be an issue that will linger for quite some time unless we can increase the pace at which housing stock is coming online. Housing will be the single biggest inhibitor to growth next year, however, whatever region solves the problem first and creates a level of supply will have a competitive advantage and will be more attractive to increased FDI investment.

What do you want to see from the council, government and other supporting bodies to help businesses in 2023?

Implementation is key, one of the reasons we launched our Strategic Development Pipeline was to ensure that public plans and infrastructure projects were being followed through with and implemented in a timely manner i.e Opera, Cleeves, Colbert Station, World Class Waterfront, Arthurs Quay, UL City Centre site, O’Connell Street rejuvenation etc.

In many instances, the local authority, government, and other supporting bodies like Limerick 2030 DAC hold the key to developing regions and it is only appropriate that when private business decide to invest and have ambition for a region that this is matched by similar ambition and investment from the Government and other state bodies. Engagement and greater accountability should also be a priority with an agile approach to be able to respond to potential issues quickly.

What has been your personal highlight of 2022?

I think being able to show appreciation to JP McManus and family at the Limerick Chamber President’s dinner for all their hard work that has benefitted the city and region was one of my personal highlights for the year. The award was in recognition of their outstanding contribution across a cross section of society and worthy causes over a long number of years - a recognition that was long overdue by the business community for a man whose generosity is only matched by his humility and modesty. I think the standing ovation and rapturous applause by the 470-strong crowd was a fitting thank you for all that the McManus family have done and continue to do for Limerick and the Mid-West region.

Launching the Strategic Development Pipeline was also a key goal of mine when I assumed the role at the beginning of the year, it was a key recommendation from our future Limerick report commissioned in 2021 and will aid the Chamber in monitoring the implementation of key strategic projects in the region.

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ALEX CHERNENKO

Chern.co, and Translit

After winning a number of high-profile tenders we believe 2023 will be a very busy year for Translit. We expect a three-times or four-times growth of our revenue this year. We are doubling our team size too due to the amount of work we have forecasted both from client and commercial contracts.

Over the last 12 months, what has been the most significant change for your business?

Working on our solutions, improving Translit RSI, and winning new business were some of our big changes. Helping Ukrainian and other refugees in Ireland with translation of documents and also training interpreters. We focused on the social aspect last year: We donated language services and helped local organisations to work with refugees.

We would like the councils and government to set a minimum payment for interpreters because the cost of living and cost of utility bills is rising but government bodies are not setting minimum pay for language professionals. We also want to see some level of regulation coming and that companies with safety certifications, quality measures and trainings, should be giving preference.

I bought a house in Limerick. I did my Leaving Cert and college life in Limerick, then I did three-and-a-half years in Dublin, six-and-a-half years in Cork and now we have returned to Limerick and bought a house!