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Galway companies flourish with financial aid from fellow small businesses

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Sleepzone.

A company specialising in the growing business phenomenon of peer-to-peer lending has revealed that it has raised €688,560 for Galway businesses.

Linked Finance raised 31 loans for 23 Galway-based businesses through Linked Finance’s online lending platform, including Schoolbooks.ie, Sleepzone and Turas Bikes to facilitate business expansion.

Over the past three years, Linked Finance has helped over 500 businesses all over Ireland to raise funding to meet their business objectives.

In its next phase of growth Linked Finance is targeting to have lent over €350m to SMEs by the end of 2019.

Velocity Bike Store, based in Oranmore, launched in 2014 supplying a wide range of bikes and associated equipment, housing an in-house bike fit and customisation workshop.

The store opened a speciality coffee shop, The 53 Coffee House, in the same building.

The coffee shop proved to be an instant hit, and Velocity Bike Store chose Linked Finance to raise €20,000 to facilitate the expansion of the café, so they could meet increased consumer demand for the café’s home blend coffee and sweet treats.

Both Schoolbooks.ie and Sleepzone have completed two rounds of funding through the Linked Finance platform. Schoolbooks.ie, Ireland’s largest online retailer of schoolbooks, raised €45,000 through Linked Finance to increase its stock to cater for their peak trading time in the summer, before children return to school.

Sleepzone operate top-quality hostels along the west coast of Ireland. The company began in 2001, with a 200 bed hostel in Eyre Square, and today owns and operates hostels in Connemara and Lisdoonvarna in County Clare.

Sleepzone raised €43,000 through two rounds of funding through Linked Finance to upgrade and renovate facilities in their portfolio of hostels.

“Ireland’s economy is getting back on track and this is particularly evident in the tourism sector, this year we opened our newest venture, The Cliffs of Moher Hotel in Liscannor,” said Sleepzone owner Ronan Garvey.

For more, read this week’s Connacht Tribune.

Connacht Tribune

New course helps make sense of Artificial Intelligence and its uses

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Managers in Galway companies who would like to learn how they could put artificial intelligence (AI) to work for their organisations are being encouraged to sign up for a new course.

It comes as research found that 50% of organisations around the world have adopted AI in at least one function, while 79% of organisations are also exploring or piloting AI projects.

Of those companies who have implemented AI, 63% report revenue increases in the relevant business units.

The new Artificial Intelligence for Managers postgraduate certificate is being offered by NUI Galway to those who wish to get a better understanding of AI and its implications for business and enterprises.

Participants do not need to have any coding skills; this non-technical programme will focus instead on the strategic use of AI and how businesses and management can approach the practical implementation of AI technologies within their company. Candidates will learn about the practicalities necessary for successful AI adoption including data and skills requirements, ethics and legal issues. As such the programme would suit those in management positions in sectors like telecommunications, manufacturing, pharmaceutical, biomedical, finance, marketing, automotive and more.

For more, read this week’s Connacht Tribune.

Connacht Tribune Digital Edition App

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Get the Connacht Tribune Live app
The Connacht Tribune Live app is the home of everything that is happening in Galway City and county. It’s completely FREE and features all the latest news, sport and information on what’s on in your area. Click HERE to download it for iPhone and iPad from Apple’s App Store, or HERE to get the Android Version from Google Play.

 

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Connacht Tribune

GMIT hotel industry’s big cheese

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Cáit Noone

The Galway International Hotel School in GMIT has been listed in the Top 10 Hospitality Management Institutes worldwide by global publication Education.com, for the second year in a row.

During the pandemic, the school continued to deliver courses safely on campus and online including a brand-new series of online masterclasses by industry representatives such as Conor Spacey, Culinary Director of Food Space, alumna Catherine Toolan, Managing Director of Guinness Storehouse, Diarmuid Kelly of Kelly’s Oysters, Siobhan Ni Ghairbith, St Tola Cheese, Bernie Doherty, Galway County Council Community Archaeologist, Padraig McGillicuddy, MD and owner of Ballygarry House, Tom Doherty, Access Hospitality and many more.

Cáit Noone, Head of the school, said: “The tourism industry is a global employer and a qualification from the Galway International Hotel School provides graduates with multiple opportunities to work across the vast industry.

For more, read this week’s Connacht Tribune.

Connacht Tribune Digital Edition App

Download the Connacht Tribune Digital Edition App to access to Galway’s best-selling newspaper.

Click HERE to download it for iPhone and iPad from Apple’s App Store, or HERE to get the Android Version from Google Play.

Or purchase the Digital Edition for PC, Mac or Laptop from Pagesuite  HERE.

Get the Connacht Tribune Live app
The Connacht Tribune Live app is the home of everything that is happening in Galway City and county. It’s completely FREE and features all the latest news, sport and information on what’s on in your area. Click HERE to download it for iPhone and iPad from Apple’s App Store, or HERE to get the Android Version from Google Play.

 

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Connacht Tribune

Glenamaddy site goes green

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Green initiative…Peter Flanagan, Site Manager and John McDermott, Procurement Manager at Kingspan.

Kingspan Water & Energy in Glenamaddy is the first manufacturing plant within Kingspan’s global network of 166 manufacturing sites to have its manufacturing process completely powered by renewable energy, following the installation of BioLPG.

Following the July installation of BioLPG, the Glenamaddy site is now 100% powered by renewable energy, closely followed by Kingspan’s manufacturing plant in Aston Clinton, England, which has also reached this milestone.

The move to renewable energy has been a gradual transition over the past five years, following the introduction of renewable electricity to Kingspan Glenamaddy in 2016.

This accomplishment is aligned to the Group’s ground-breaking Planet Passionate sustainability objectives and helps Kingspan to move closer to its ambitious goal of achieving net zero carbon manufacturing* across the business by 2030.

Kingspan Glenamaddy manufactures storage solutions for numerous sectors including agri, water, domestic as well as specialist custom tanks as part of Kingspan’s Water & Energy Division.

“Over the past five years, the introduction of renewable electricity to our Glenamaddy site has delivered a significant reduction in our carbon emissions,” said Peter Flanagan, Site Manager at Kingspan Water & Energy in Glenamaddy.

For more, read this week’s Connacht Tribune.

Connacht Tribune Digital Edition App

Download the Connacht Tribune Digital Edition App to access to Galway’s best-selling newspaper.

Click HERE to download it for iPhone and iPad from Apple’s App Store, or HERE to get the Android Version from Google Play.

Or purchase the Digital Edition for PC, Mac or Laptop from Pagesuite  HERE.

Get the Connacht Tribune Live app
The Connacht Tribune Live app is the home of everything that is happening in Galway City and county. It’s completely FREE and features all the latest news, sport and information on what’s on in your area. Click HERE to download it for iPhone and iPad from Apple’s App Store, or HERE to get the Android Version from Google Play.

 

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