WEXFORD BUSINESSES BATTLE BACK - Measures totalling €15 billion over the next four years to meet agreed EU targets loom ahead of us because of lower economic growth prospects and the higher cost of paying interest on our debt. Across the country businesses and universities are rolling up their sleeves to get to grips with the economic climate.
Edward Hendrick is the founder of Enniscorthy-based technology start-up Sonru, a company that makes video interviews possible. The company is in a growth phase and was named as the winner of the Wexford New Business of the Year 2010. It was also voted one of the top 100 start-ups in the world.
Mr Hendrick says that it really does not matter where his business is located as it is web-based, but he is very happy to be located in Co Wexford. He says Sonru has received fantastic support from the County Enterprise Board and the county has a strong network of business people to help it out. He says that Wexford is a very attractive place for people to live in and says that people are moving out of the cities to towns like Wexford and Enniscorthy.
James O'Connor is the proprietor of Greenacres - a gourmet food and wine shop, restaurant and art gallery in Wexford town. The family business has been around in various guises for over 150 years. Mr O'Connor says his business gets its main support from its customers and suppliers. He says the local authorities in Wexford have done a great job in recent months to give the town a more positively focused and more attractive appearance. He points out that there are only nine or ten vacant shops in the town's main street compared to much more a few years ago. He says that the Zurich insurance group has set up its headquarters in the town and the new Coca-Cola facility is opening shortly. He says the opera festival brings in a lot of new people - and money - into the town.
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MORNING BRIEFS - Irish manufacturing exports grew rapidly in July, August and September, helped by a good euro exchange rate with the dollar. The Irish Exporters Association said that manufactured goods exports to the US increased by 32% in value, and reversed the losses in exports to that market over the last two years. The exchange rate with sterling helped exports to the UK to rise by 4% in the quarter.
*** On the currency markets, the euro is trading at $1.3811 and 87.24 pence sterling.
