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Tuesday, 21st November 2017

Michael Garland,

bizBoost Chair,

Waterford Business Group

Are we lacking in political talent?

Over the last few weeks many, many column inches have been written, relating to our Junior Minister John Halligan's recent faux pas, thus, widening the debate further, as to whether or not Waterford has the political talent to actually make a difference to the City, County and wider South East region.

If you look at our neighbouring counties, the numerous political "big hitters" across our borders are well publicised. These TDs are aligning themselves for significant portfolios in the next Irish Government, be that 2018, 2019 or 2020.

Waterford's long term hurling foe, Kilkenny, have a five seat constituency. Both FF and FG will probably be targeting three seats in the "Black and Amber" county. Out to the "Wesht" we have the super-constituency of Cork. The two main parties of FF and FG

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Tuesday, 21st November 2017

John Smiles

Qualified Financial Advisor

Year-end worries for investors

November/December can see some of the biggest moves in markets and experts have some issues to be cautious about.

The prospect of 'no-deal' Brexit is probably the biggest worry. We are at the halfway point between the Brexit vote and the nominated date that the UK leaves the EU and if politicians can't reach a deal then the pound could weaken further putting more pressure on Irish exporters.

Brexit is not a problem for FTSE 100 companies as they get a large proportion of their earnings from overseas, but smaller and medium-sized businesses which tend to be more domestically-focused will be impacted by a 'no-deal' exit. Much of the FTSE's strength over the past year has come from the boost to firms' overseas profits due to a weak pound.

The average UK equity fund has around 42%

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Tuesday, 21st November 2017

Sixteen of Waterford's young entrepreneurs have been shortlisted for the Waterford final in the Ireland's Best Young Entrepreneur (IBYE) competition 2017.

The competition now in its fourth year is run by Waterford Local Enterprise Office. A €50,000 investment fund will be shared among three winners and three runners-up; three winners from this final will also go forward to the regional final to battle it out for a place in the prestigious national final.

The three finalists are selected from the Waterford shortlist under three categories, 'Best New Idea', 'Best Start-up' and 'Best Established Business'.

In order to help prepare the finalist for this stage of the competition, Waterford Local Enterprise Office hosted a three-day, intensive business Bootcamp. The bootcamp is designed to help participants to develop their ideas and businesses from concept stage to reality and to build a viable business plan and

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Tuesday, 14th November 2017

Michael Garland,

bizBoost Chair,

Waterford Business Group

"It's beginning to feel at lot like Christmas!"

If truth be told, that Christmas feeling seems to begin earlier and earlier each year. In fact, it appears to start right after Halloween. Once all the reduced in price "Trick or treat" paraphernalia, such as vampire costumes, werewolf masks, gory face paint, sickly marshmallow sweets and monkey nuts are gone, they're gone.

Tinsel, baubles and Christmas trees, miraculously come out as if by magic! Even the BIG man from the North, invites us to make a list, before "Black Friday" gets us all excited whilst maxing out our credit cards. Make no bones about it, we succumb to commercialisation all too easily. Even Santa's hard working wee elves are not immune to modern day pressures.

We can see evidence of Waterford making its annual Christmas statement, with the return of

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Tuesday, 14th November 2017

John Smiles

Qualified Financial Advisor

Imputed Distribution deadlines

Holders of Approved Retirement Funds [ARF] and vested PRSAs, aged 61 or older, must take a minimum annual income from their policies in every tax year called an 'Imputed Distribution'. The rate of imputed distribution is aged related. From 61 to 74, the rate is 4% pa and from 75, it rises to 5% pa. If you have a total fund from all sources of €2 million or more, the rate is a flat 6% pa from age 61.

An imputed distribution is treated as income for tax purposes; assessable to PAYE, USC and if you are under 66, PRSI. You can write off your tax credits against this tax liability. The Qualifying Fund Manager [QFM] is responsible for paying the imputed distribution and acts like your 'employer' for the purpose of making the payments. However,

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Tuesday, 14th November 2017

The soaring cost of rent as seen in the latest Daft.ie report coupled with a shortage of supply in Waterford City and County is a major concern for local Focus Ireland Manager David Niblock.

Focus Ireland has called for more urgent Government action to tackle rocketing rents as the new Daft report shows rents have shot up to a new all-time record of €1,200 per month, with rents increasing for 21 consecutive quarters. The charity warned that, despite the Strategy for the Rental Sector published 12 months ago, Government action to address the rental crisis has had very limited impact so far.

Overall, the average rent in Waterford City stands at €797, or a massive 42% from the low point in the market. Meanwhile, the average rent in the county is €760.

Focus Ireland Waterford Manager David Niblock said: "The DAFT report clearly

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Tuesday, 14th November 2017

Part of Bank of Ireland's 17th National Enterprise Week Women in Business event taking place in Waterford on November 23rd

Bank of Ireland's 17th National Enterprise Week, themed 'Scaling Your Business', will take place from 17 to 24 November and will see up to 26 events take place across the country for SMEs with an interest in growing their business. Each unique event has been carefully planned to support specific industry sectors with experts on hand to speak about everything from trends, forecasts and opportunities to personal relevant business experience. The aim of the initiative is to promote and drive momentum for businesses in areas such as manufacturing, tourism and hospitality, agri, finance, fisheries and export markets.

These themed events taking place across the country will give SMEs the opportunity to hear from industry experts and network with like-minded businesses. In Waterford,

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Thursday, 9th November 2017

Michael Garland,

bizBoost Chair,

Waterford Business Group

Hi ho, hi ho it’s off to....

North Korea!!!!

Much of the news last week, focused on the announcement that three Irish TDs would be paying a visit to the Democratic People’s Republic of Korea (DPRK). North Korea to you and me. Yes, that madcap

totalitarian dictatorship, run by their supreme leader Kim Jong-un, will be visited by Ireland’s "Three Stooges" - Messers Ross, McGrath and Waterford’s very own Minister Halligan, will fly out, at their own expense, to the capital Pyongyang, we assume, to stop, in their own words, "The inevitable move towards war with the good old USA".

This amazing story began last week. Just like many people, I immediately checked my phone, when I first read this, to see if it was the 1st of April. I also checked that this was not a Waterford Whispers news

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Thursday, 9th November 2017

John Smiles

Qualified Financial Advisor

When will equities crash?

From 6th March 2009 to 3rd November 2017, the S&P 500 increased spectacularly from 683.38 to 2,587.84 and the FTSE 100 from 3,530.73 to 7,560.35. Many analysts have been predicting a stock market collapse based on stock markets being at all-time highs; bull markets have traditionally never run for longer than 7 years and the day of reckoning is coming.

While nothing is forever, it is very difficult to predict exactly when the next bust will occur. At a time of almost zero returns on cash and bonds, investors are understandably, not anxious to cash in their equity holdings and transfer their accumulated capital to a zero earning asset class. Why therefore, despite this conventional wisdom, do equity markets continue to grow with no sign of weakness?

The huge transfer of debt from the corporate sector

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Thursday, 9th November 2017

The homeless figures for September 2017, announced by Minister Eoghan Murphy this afternoon (but not yet published in detail) show a new record number of 8347 people homeless.

This is compared to 8,270 in August 2017, and 6,709 in September 2016.

There is also yet another new record number of children now homeless – rising from 3,048 in August month to 3,124 in September. A shocking total of 37% of the total homeless figure is now made up by children.

Focus Ireland said some great work is being done to help many exit homelessness but the charity warned that the Government is still not doing enough to prevent many more from becoming homeless.

"The Minister rightly highlights the extraordinary work which Local authorities, homeless organisations and the Department are doing in collaboration to support record numbers of households to move out of homelessness. However,

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Letters to the Editor

  • OUR VIEW

    No Gun ControlAs much as you might sympathize with the students and families of those who were at the center of one of the worst high school shootings in Florida last week, you easily get the impression that their deaths were all for naught. There is absolutely no way, following the 17 deaths at this shooting, that the law makers in America will bring in legislation that will see the curbing of gun use and gun ownership in that country. It is just not the American way.In actual fact if past histor …

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