‘Clients lean on us for advisory services’

VIVIAN E. NATHAN

ACTIVITY Trading for our firm over the past year has been very strong. We are observing an increased demand in areas such as advisory services, tax planning, and financial consulting. Advisory and outsourcing are services in most demand from our clients and prospects in the market. Our core market is owner-managers, and constraints on resources and expertise are a key driver for growth. Clients seek guidance on navigating economic uncertainties and optimising their financial strategies for the future.

OPERATIONS STRATEGY As managing partner, I face several operational challenges, including talent acquisition and retention, keeping up to date with regulatory changes, and leveraging technology for efficiency. The availability of talent is a significant challenge for our offices in both Dublin and Cork. Retention has been strong, thankfully; it’s key for ensuring our teams are happy and excelling in their roles. We are keen to grow, given the increased demand for services.

ENHANCED REPORTING Enhanced reporting requirements can be challenging for clients, especially small and medium-sized enterprises. The immediate answer for clients is to outsource the challenge, as it tends to be far more efficient to outsource rather than hire and try to keep up to date with compliance changes on an ongoing basis.

PROFESSION Our clients lean on us for advisory services in particular. While technology plays a great role in building efficiencies, especially when large data sets are involved, the key issue is interpreting what that data means to a business owner and how they can get assistance to make good decisions as a result.

ENTERPRISE Continued dialogue between the Government and business leaders is vital to address SMEs’ specific challenges. Streamlining regulatory processes, providing targeted financial incentives, and nurturing a more supportive business environment could further encourage SME growth.

OUTLOOK In recent times, Cork City has witnessed a notable number of business closures, which reflects the multi-faceted pressures enterprises face. Reduced consumer spending and rising operational costs have contributed to this wave of closures.

However, we feel room for optimism and adaptation amid these challenges. The pressures have prompted a re-evaluation of business strategies, encouraging the exploration of innovative models and enhanced digital presence. Building and maintaining confidence is crucial for sustained business success.