Is the Recession Over?

There seems to be a lot of anecdotal evidence that we are near the bottom.  Whatever about Ireland many other countries seem to be back on the growth path.  Certainly there are many clients who seem to be stabilising and an increasing number who are growing.

So are we over the worst?

In Newmarket we feel it is the wrong question. The question for all privately owned business is what they will do for themselves to improve their position.

Government Employment Subsidy initiative

The first letters of offer have started to arrive from Enterprise Ireland.  The good news is that quite a lot of Newmarket clients were successful and should be receiving their first cheques before end of April.

This initiative, which originally only applied to Exporting Companies, was extended to all companies who could apply for a subsidy for retaining jobs throughout 2010.  Unfortunately the time window for applying was quite short and there was no criteria as to what type of companies would be supported.

Newmarket appointed advisor to High Potential Start Up Companies

Newmarket are delighted to have been appointed as advisors to new Start Up Companies in both Nova UCD and ITT Synergy Centre.
The centres operate as incubation units for new innovative start up companies which are expected over time to develop into fast growth export orientated companies.  Within the incubation units each company is provided with low cost fully serviced offices as well as access to the university and a wide range of mentoring services.
Working closely with Gerry Delaney of Delaney Financial Services who provides financial mentoring, our role is to provide tax support services related to Research and Development, Raising Capital and general matters regarding tax as well as one to one business planning clinics.

Commercial Landlords under greater pressure?

Recent court ruling could give tenants more negotiating power.

The historic strength of landlords in Ireland when it comes to negotiating and terminating leases is well known.  So much so that the value of leases let to first grade tenants often exceeded the most secure of investment.  These values are derived from a multiple of rent higher than in most developed economies.  So we had high rents, landlord friendly leases leading to high multiples leading to even higher values.

Has this now all changed?

New Online Accounting Service Launched

Newmarket Partnership is delighted to announce the launching of an online accounting service.  The service which operates just like on line banking stores all the information on line in a secure environment and provides access to all authorised users no matter where they happen to be working. 

And best of all you only pay a monthly licence fee- no

 purchase of software, no annual maintenance fees, no more concern for security of back up.

Finance Act 2010

The Finance Act 2010 has now been passed by the Oireachtas and will be signed into law by the President shortly. In addition to giving effect to the changes announced in December's Budget it makes a number of additional amendments to the tax system.

Your Country Your Call

Congratulations to Jerry Kiersey on his entry into this competition.

Jerry - who is a long standing client of Newmarket -has been a long time advocate for green fuel and its potential in Ireland.  Now, together with some colleagues, he has made a submission to this award. 

You can view Jerry's submission, by clicking here.  If you like it you can vote on it or just leave a comment. 

Best of luck with the proposal Jerry from all at Newmarket.

Newmarket is delighted to announce the following new clients and assignments: 

Biosystems Engineering Limited.  A campus company based in Nova UCD, Biosystems provide a range of energy efficiency consulting and solutions in waste to energy as well as developing there own energy solutions.  Newmarket provides tax and annual compliance services.

Design Squared. Design Squared is a new start up company providing commercial property design services. They have recently completed the flagship Dunnes Stores in Patrick Street Cork which looks likely become the standard design for the entire Dunnes chain going forward.
Newmarket will be providing online cloud accounting services, as well as dealing with tax and annual compliance needs.

Rua Red- SouthDublin Arts Centre.  Rua Red is the new arts space created by South Dublin Council for the Tallaght area.  Newmarket provides annual audit compliance services.

Sign and Digital Materials Ltd. Sign and Digital has grown from a start up in 2003 to become the second largest distributor of print supplies operating in the whole island of Ireland.  Newmarket will provide audit, taxation and consulting services.

Tallaght Echo.  David Kennedy - the original founder- has just reacquired this title and he intends to restore it to be the voice of Tallaght.  Newmarket provide annual compliance and tax services, ongoing consulting and were the principle negotiator on the purchase.  See January Newsletter feature.