OBN Financial Services Blog
Whilst acknowledging that the recession hasn’t ended for everyone in the country as some areas and some sectors are still finding the environment challenging, many businesses especially those in urban areas would say that activity has picked up quite noticeably in the last 12 to 18 months.
For some businesses this will present a whole new set of challenges as they will need to expand to cater for increased demand and in the majority of cases this will have to be funded without bank finance. Another challenge that some businesses may face is upward pressure on costs such as wages. As the economy improves, staff will seek to recover the gains which were lost during the recession through pay cuts, reductions in bonuses and overtime and through higher taxes. Now that the economy finally appears to be turning, one of the biggest risks to your business might be loss of experienced staff to your competitors. We have a solution. Continue reading Business picking up? Upward pressure on wages? Staff leaving for better opportunities elsewhere? How to retain staff without breaking the bank.
If you have a defined contribution pension entitlement from a previous employment it usually makes sense to move it into what is known as a Personal Retirement Bond, also known as a Buy-Out Bond. Continue reading Do you have a pension entitlement from a previous employer?
Here’s a very straightforward video which shows how a pension works;
We’re running a competition on Twitter and Facebook for the month of July. Each Retweet and Follow (Twitter) or Like and Share (Facebook) of a post which links to this blog post during July enters the account holder into a draw to win dinner for two in Viewmount House in Longford to the value of €150.
VM Restaurant Converted stables with exposed stonework make a fine restaurant of character which overlooks a Japanese garden with water features, and has an abundance of candles giving a cosy atmosphere at night. Whether entering from the car park or the house itself, guests arrive in a ‘new’ bar and restaurant reception area with a fire, where Beryl explains the menu while you enjoy a pre-dinner drink. Continue reading Retweet and follow on Twitter or Like and Share on Facebook to enter a draw to win dinner for two in Viewmount House
Here’s something you might not know which is worth bearing in mind when responding to important correspondence. If the reply you are sending is in any way time critical – don’t use the Freepost envelope enclosed.
An article in yesterday’s edition of the Sunday Times describes how 5,000 Irish shareholders of Standard Life are being hit with extra tax due to a postal delay. The company was returning £1.75 bn to Continue reading Freepost – it’s free but it certainly isn’t cheap!
The reduction in salaries over the past few years as well as the new mortgage rules mean that the task of getting a deposit for a house together is significantly more challenging than it used to be.
Given lower incomes due to the recession, a higher than previous tax burden as well as high rents in urban areas due to lack of supply, we estimate that even the most determined of savers would find it challenging to save €500 per month or €1,000 for a couple.
Irish Life recently carried out a survey to gauge the proportion of parents in Ireland who hold life cover. The result was that 48% of parents in Ireland with children under 17 have no life cover. We don’t find this very surprising as many people who take out life cover only do so to satisfy a condition in a loan offer, and many people don’t see the value of having life cover for the protection of their dependents. So, do you need life cover?