We know that the current economic situation caused by the Covid-19 pandemic has brought a lot of challenges to many businesses and sectors. Many companies, especially start-ups and SMEs, are facing very difficult times, with tough decisions to be made in order survive. Unfortunately, some companies will struggle as a result of these challenges, but hopefully most will survive and come out the other side stronger and ready to trade as per usual.
The ability of a company to stabilize during an economic downturn and find a way in which to adapt and come out the other end stronger shows true depth and strength within the company. For some this is easier than others. Take the likes of remote conferencing communications company Zoom Video Communications or collaboration hub software company Slack. These companies will thrive in the current situation as globally, businesses adapt to disparate remote working scenarios.
Other companies will pivot their operations to capitalize on new markets and opportunities. Adapting your business plan or sales strategies is the mantra for businesses at this time. One of the easiest ways in which to do this for many retail providers is to ensure an online sales presence. Producers like Beechlawn Organic Farm Produce, Roasted Brown coffee producers, and the distributor Beercloud.ie feature in a www.thinkbusiness.ie article on how they have adapted during this current situation. Local
Here at GTC, we have companies that cater to a number of sectors, each of which have been impacted by Covid-19 in some way or another. While some of the businesses have had to slow down their operations, many have found opportunities open up before them and are doing their best to take advantage. Others have seized the opportunity to support frontline workers through their products or support those companies or workers that need it most. Below are just a selection of the companies based in GTC that are responding to the current situation:
- 3D Technologies Limited/Medscan 3D: Founders James and Jacqui have been hard at work over the past several weeks utilizing their skills and resources to create PPE equipment for distribution in Galway. They featured recently on a RTE Six One news report, and have been covered in the Irish Times and Irish Examiner.
2. Siren: Founder and Chief Product Officer, Giovanni Tummarello published an article on the use of their technology towards ‘Contact Tracing’. Taking the investigative intelligence technology that they have developed and putting it in use to help stem the spread of the disease.
3. Employability Galway: Much can be said for the vast number of the population that have found themselves unemployed over the last number of weeks. As the economy has ground to a halt, many are looking to the supports that are out there to assist them during these challenging times. The staff at Employability have long worked to assist those with a range of disabilities to secure employment. As this service will inevitably be required more now then ever, we know they will be hard at work providing their great supports.
4. FCS Corporate Services: “FCS Services has produced the attached to assist Companies in considering how to maintain “Business as Usual” in relation to Board of Director Meetings/Decisions, upcoming AGMs, CRO filings, etc., amongst other topics. If you have any queries in relation to the topics covered in the attached the FCS Services Team can be contacted on 091 704818/087 746 8801 or [email protected].”
5. Multiple others: Aptarus Ltd. supply online training opportunities for fleet companies. As supply chain and transport are key to keeping our economy going at this time, well trained drivers are key! Apogee Corporation have been, and will continue to supply the national hospitals with their supplies, keeping our frontline staff in the hospitals working. PlanNet21 have been continuing their role as network and communications support to the HSE, a vital role for ensuring continued efficient response to the Covid-19 Pandemic. Many of our other companies busy supporting their clients in their own respective sectors; Connacht Accountancy (Revenue advice), Flynn O’Driscoll Business Lawyers (legal advice), Applied Systems (insurance fintech support),
We are proud to be the home of all these great companies as they respond to the current situation. Their ability to adapt to the current economic downturn will ensure their continued success and growth!