Central Bank Deputy Governor Sharon Donnery connects with Network Ireland Kildare

On Tuesday, 20 October Central Bank Deputy Governor Sharon Donnery spoke to Network Ireland Kildare’s ‘Making Connections’ webinar where she discussed the Irish economic outlook, the importance of SMEs to the economy and the resilience of businesses.

Attended by local business women from County Kildare, the event saw Sharon focus on the economy, where she discussed Central Bank projections which point to a gradual recovery in Ireland. However, she noted uncertainties remained around the path of the pandemic and Brexit negotiations. Turning to SMEs, she highlighted the importance of smaller companies for employment. “About one third of people engaged in the business economy in Kildare are engaged with very small enterprises with less than ten employees. This is twice the share when compared with Dublin. Nationwide, SMEs account for over two thirds of total employment in the Irish business economy, with younger firms being particularly important for job creation.”

On resilience, Sharon outlined how the economy and financial system were strengthened over the last decade and spoke to the ongoing policy actions which will play a role in rebuilding our resilience. Addressing the theme of the webinar, she stressed the importance of networks and building connections; “It is important that we continue to build our connections, even in the current environment, so businesses can be innovative and creative in the face of challenges.”

Speaking after the meeting, Sharon reflected on the value of participating in events such as this. “It’s important for us in the Central Bank to meet with people from all over Ireland in order to gain a deeper understanding of the issues being faced by businesses and citizens. Through our outreach programme we engage with local communities on an ongoing basis, which informs us in shaping policy.”

During 2020, the Central Bank’s outreach programme has included a series of webinars with representatives from Dublin, Cork, Mayo and Galway Chambers of Commerce as well as visits to Tralee and Killorglin, Co. Kerry earlier in the year. In addition the Central Bank regularly organises roundtable events with civil society, stakeholders, industry and academia, to discuss policy issues such as the annual mortgage measures review and distressed debt for example.

Notes:

Network Ireland has been operating in the greater Kildare region for over 16 years and currently has more than 80 members. The Network organises events throughout the year covering topics such as Women in Leadership, Communication Skills, Marketing and Finance.