Chief Economist with Friend’s First, Jim Power was introduced to the packed function room by Managing Director of Key Financials, Niall Thornton. Jim Power is well known from his regular press and news commentary on the state of the Irish economy and the potential for market recovery. He spoke in depth about the global economy and the affect it has had particularly on the Irish market. He assessed the current economic climate, predicted modest growth after 2010 and a rise in interest rates in 9-12 months time. He highlighted the effect the sterling rate as a key challenge to border area businesses and forecasted that sterling would continue to be weak for the foreseeable future. Questioning from the audience was lively with local business people asking questions on the effects an election would have on the economy.
Dermot Mc Conkey of Dermot Mc Conkey Development and Training Ltd, followed with an upbeat outlook on the economy and how Irish businesses can protect and grow their businesses in a recession. He challenged the audience on their marketing activity and their willingness to find and win new customers, stating that “no decision, is a decision” when it comes to finding new business.
He stated that “It is not the strongest who survive in a recessionary market but rather the business who can adapt.” He challenged businesses to examine their customer offering with regard to their features, advantages and benefits and to go as far as to ask “If you were ever to do business with us, what would we have to do, be or have?”.
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