Thursday, October 14, 2010

News!

DSC01313
Cannonball Run in Donegal Town!
Donegal Town (& Gweedore) are to get new Libraries:
“Minister of State Michael Finneran has worked with Donegal County Council to ensure that both towns will benefit from wonderful new state-of-the-art libraries. I’m particularly pleased that these projects have now been approved for funding and can advance, Tanaiste Mary Coughlan said ...
Let's hope state of the art also includes access to the Internet.

19 business have gone bust in Donegal this year, however this statitic doesn't tell us much as it doesn't make any comparisons to previous years, nor talk about how many new businesses there have been so far this. However they do state what the national figure is, so I'd imagine Donegal is worse than the rest of the country due to the high unemployment rate:
According to Insolvencyjournal.ie, 19 businesses in Donegal, 4 in county Leitrim and 6 in County Sligo were unable to honour their debts in the first six months of 2010.
Nationally, the number of insolvencies is up 27 per cent on the same period last year.

But, some good news on the local economic front, Moll Industires plastic molding plant in Donegal Town is now under local owership. Moll makes medical devices and is an American company based in Texas that recently filed for bankruptcy. Let's hope they'll do well.
... specialises in molding and assembly for the medical and pharmaceutical sectors was established in 1982, and employs 25 people.

Helen Masterson has been Managing Director of the Donegal company since 2002, and is now leading Moll Industries Ireland Ltd.

She says this move has secured the future of the plant and marks a major new chapter in its business. She says local ownership means management and staff are in full control of the company’s growth, and will focus on quality of delivery and technology.

She says the key priorities will be to strengthen existing operations, and identify new markets for export.’

In a statement confirming the takeover this morning, Ms Masterson says she believes local ownership of such a flourishing business can bring significant inward investment to the locality of South Donegal.

And one last bit of "economic" news, Doug Richards from BBC's Dragons' Den will be delivering a seminar on October 16th in Letterkenny. I don't know how useful these things are, but if you've the money it might be a good place to network with other entrepreneurs:
The “Start here!” seminar will focus on how to start and grow a successful business and draws on Doug’s huge experience both as a businessman and as a successful investor in other businesses in Europe and the US. The one day workshop will help potential entrepreneurs answer key questions before starting or growing a business: how to develop your business model; how to identify your product and market; how to run a low cost marketing campaign; how to treat the recession as an opportunity; and how to make money and secure investment.

 See here for additional details.

And one of our own entrepreneurs from Donegal Town was recently on the telly! I'll post about that soon and her new business that can help individuals and businesses save money.

Oh, and about that pic, when I was home at the start of September, a tonne of flash high performance cars went whipping through the town with a Gardai escort. They were part of the Cannonball Ireland Rally!

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