view from the Institute


Government must take steps to support business


The Government is now most of the way through its first 100 days in office and most would acknowledge that it has made progress in a num- ber of areas. Recent research con- ducted by Behaviour & Attitudes with members of the Institute of Directors in Ireland found that the majority of directors surveyed have confidence in the new Government, with almost nine in 10 (88pc) agree- ing that the Government will create political stability and two in three (67pc) confident in the Government’s ability to rebuild the economy. However, just two in five (44pc)


directors believe the Government will be good for small business in Ireland, with just under half (47pc) of directors in SMEs positive about the impact that the Government will make. The biggest challenge for busi- ness continues to be access to credit and a dysfunctional banking system, with one in two (48pc) citing this as the main challenge facing business. While those at the helm of Irish


business have signalled confidence in the Fine Gael/Labour coalition, they are calling for the Government to introduce a range of measures to support business. Following a consultation process


with its members, the IoD has found that there is a lack of confidence among directors that the banking structure can meet the needs of SMEs and directors want to see a dedicated business bank established, modelled on the former State-owned ICC Bank. In addition, directors are keen to see financial supports put in place for SMEs, through a bond scheme or a specific SME fund. Unsurprisingly, directors are also


Maura Quinn CEO, Institute of Directors in Ireland


6 Irish Director Summer 2011


calling for the bankruptcy laws in Ireland to be changed, a move that has been signalled in the Programme for Government. The 12-year term under Irish law is con- sidered to be too cumbersome and a barrier to business start-ups and entrepreneurs. While directors are in favour of


initiatives to support job creation, they also cite job retention as being equally important and would like to see strategies put in place whereby the Government and employers could join forces to both protect and create jobs. Though the Government is largely


in favour with business leaders, they are nonetheless calling for greater transparency and openness in all aspects of its strategy for reform, and most importantly want to see an end to the drip-feeding of information to the Irish public, which was a contentious issue for the last Government. What these findings show is that


those leading business in Ireland have a lot to contribute and there is now a real opportunity for our polit- ical and business leaders to work together to rebuild our economy. Just as businesses are reliant on


the Government to introduce sup- port measures, so too is the Government reliant on the wealth of talent, knowledge and experience that those at the helm of Irish busi- ness can offer. The time is ripe for Government and business to combine their efforts to tackle and overcome the challenges that lie ahead and to sell the message of Ireland being open and ready for business both at home and abroad.


UPCOMING IOD IN IRELAND EVENTS


26 May BREAKFAST BRIEFING Directors’ & Officers’ Liability Insurance – Tips and Traps, presented by William Fry


Venue:


Stephen’s Green Hibernian Club, Dublin 2


16 June IOD AGM The AGM is open to all members of the IoD and will begin at 6pm


Venue:


Stephen’s Green Hibernian Club, Dublin 2


23 Sept AUTUMN LUNCH Guest speaker, An Taoiseach, Enda Kenny TD


Venue: Four Seasons Hotel, Dublin 4


Details and booking forms from . skirwan@iodireland.ie or phone 01 411 0010. Keep up to date with upcoming events at www.iodireland.ie.


>HOWWELL IS YOURBOARD PERFORMING? FINDOUTBY UNDERGOINGA THOROUGHBOARD PERFORMANCE EVALUATION.


Undertaking a thorough board performance assessmentwill enable your organisation to gain a valuable insight into the effectiveness of your board. The board of any company is its governing body and if it is not performing to its full potential then your organisation could be at risk. For further information, please contact the IoD today on 01 411 0010.


>NOT YET AMEMBER?


To learn about your role and responsibilities as a director and to develop your professional skills, knowledge and expertise,why not joinmore than 1,400 fellowdirectorswho are alreadymembers of the IoDin Ireland. You can also avail of our excellentmembership


benefits, including access to the Stephen’sGreen HibernianClub, selected airport lounges inDublin, Cork and theUK, aswell as bespoke director’s personal indemnity insurance throughGlennon Insurance and access to the IoD’sBoardroom Centre. Call us today on 01 411 0010 or visit www.iodireland.ie.


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