Amazing fact of the week: apparently it costs the US Mint 1.99 cent to make every one cent piece or as its commonly known a “penny” ! I don’t know what it costs to make a one cent piece in this country but chances are that the cost exceeds the price (if you know what I mean). This odd fact came to mind as I talked to Martin Doyle of Wexford Chamber about the 1 and 2 cent Rounding Trial that the Central Bank of Ireland are holding in Wexford Town. IF it proves to be a success,l perhaps businesses in Kilkenny and Carlow will be “rounding up” in the near future.
Another amazing fact came on the programme courtesy of Adrian Cummins Chief Executive of the Restaurant Association of Ireland who say that 10,000 new jobs were created by the Government decision in 2011 to reduce VAT on restaurant and catering services, hotel accommodation as well as a range of other hospitality related businesses. Adrian said that the benefits of the initiative to Government Coffers far outweighed the costs and he and his members are lobbying hard for the 9% Vat Rate to be protected in the budget in October.
It was interesting to chat with Michael Condon MD of Jones Business System our featured business on our “Year in the Life” series which we are running with the Carlow Nationalist and Carlow Chamber. Jones Business Systems was founded in 1986 and through the years since has grown to employ 42 full time employees spread over 5 locations.
“What gets measured gets done” is an old management adage and it formed the basis of our monthly discussion with Fergus Doyle of www.thebusinesstorubleshooter.com The simple message from Fergus was that if you don’t know the key metrics of your business and you don’t measure them regularly, stop and start doing so without delay.
Good to chat with Tom Molloy after a gap of a few weeks. Lots on the menu as usual ranging from the financial travails of the Minister for Small Business to the recent IMF / Government spatand the first annual rise in house process for quite a spell. OMG have we finally hit the bottom !
And to round off the programme we talked about the Boss. Not any old Boss but Bruce Springsteen who is coming to the Marble City for 2 sold out shows. Gary Graham of Kilkenny Chamber joined us in studio to chat about the many benefits that the Wrecking Ball Weekender rolling into Kilkenny is bringing to businesses in the area. We even finished off the programme with a bit of music from the man himself (Bruce not Gary that is!)
Anyway, I’m taking a break from the Bottom Line for a few weeks. Don’t worry the time will fly and I’ll be back before you’ve missed me to bring you all the news, views, opinions and analysis for business in Carlow, Kilkenny and the world.
If you’d like to get in touch with the programme in advance Edwina Grace the Series Producer will be delighted to talk to you. You’ll reach her at [email protected]
Regards
John
