Archive for November 2020

Consumers shopping online this week are being advised to be on the lookout for scams. Black Friday and Cyber Monday are expected to see another increase in online spending this year. Fraudsters typically target consumers at busy times, but despite that, it looks like card fraud is on the decline. Debit and credit card fraud…

Consumer sentiment showed a significant and somewhat surprising rebound in November which may signal a stronger outlook for Christmas spending.  The latest KBC Bank Irish consumer sentiment index jumped to 65.5 in November from 52.6 in October, returning the index to its strongest level since March.  However, the November reading still remains substantially below both…

We like to save money in Ireland and much and all as we’ve generally disliked ‘lockdown’, and all that it has meant in terms of an erosion of our personal freedoms, it has enabled many people to put even more money aside. According to the Central Bank, deposits in banks and credit unions soared this year,…

A new loan scheme to help small businesses to prepare for Brexit has been launched through Microfinance Ireland. Loans for between €5,000 and €25,000 will be available to companies whose turnover has dropped or is likely to drop by 15% or more because of the UK’s departure from the EU. Firms with a short term…

Nearly 500 businesses and trade associations involved in the tourism, hospitality and events industries have signed an open letter to Taoiseach Micheál Martin calling for the sector to be allowed reopen or reopen to a greater extent than currently from December. The signatories say they recognise that although it will not be business as usual this…

The Covid-19 pandemic has not led to an increase in company insolvencies, according to new research from the Central Bank.  A report published today by the Central Bank suggests this is down to Government supports, loan payment breaks and forbearance from creditors.  The report also finds there was a sharp reduction of 36% in the…

A total of €8.24m in grants has been announced for 95 Enterprise Centres around the country under Enterprise Ireland’s Enterprise Centres Fund.  Enterprise Centres are embedded in communities in every county in the country and provide space and training for entrepreneurs. This allows them to work remotely, access training and advice and network with other…

Businesses and other organisations here that use a UK based payment service provider to process direct debits are being urged to check they are ready for important changes that will apply after January 1.    According to the Banking and Payments Federation Ireland (BPFI), if they want to ensure smooth and uninterrupted continuation of the…

Revenue has written to over 100,000 taxpayers confirming that their tax debts totaling €2.2 billion are eligible for Debt Warehousing. The Debt Warehousing Scheme allows VAT and PAYE (Employer) debts incurred by businesses during the period of restricted trading caused by Covid-19 to be ‘parked’ on an interest free basis for 12 months following the…

The European Commission has said the outlook for the Irish economy is “highly uncertain” and that risks are “elevated”.  In a report published today, the Commission notes that Ireland’s public finances were in “a position of strength” at the start of this year.  However, the impact of the Covid-19 pandemic and the cost of the…