Ireland Inc must go 'all-in' on software and financial services

The UCC Commerce Society’s annual conference is one of the first in-person events held in the city since the lifting of Covid restrictions

(Left to right) Conference Co-Director Liam Coakley, speaker Evelyn Moynihan, CEO of Kilkenny Group and Conference Co-Director Eadaoin Murphy. Photo: Larry Cummins

Ireland Inc needs to go 'all-in' on intangible goods such as financial services and software development once the changes to our tax structures see the ultimate erosion of our multinational sector, UCC Commerce Society’s annual conference has heard.

Addressing students at the event today, Peter Coppinger the founder and CEO of task management firm Teamwork said Ireland had done really well with foreign direct investment over the last 70 years but it was inevitable that it is going to change and that there would be a slow drain on our multinational tax base over the next 50 years. 

"I think Ireland Inc needs to go all-in on intangible goods, particularly financial services and software. Software is eating the world. It is a huge opportunity for every student on this call. Even if you're not a designer or developer, there is money and success waiting for you in them there hills," he said.

(Left to right) Isobel Carey, Vice Chairperson of UCC Commerce Society, Cllr Derry Canty and Amy Ryan, Chairperson/Auditor of UCC Commerce Society at the 40th UCC Commerce Society Annual Business Conference. Photo: Larry Cummins

"I'd love for us to create a country where we have more software entrepreneurs, we encourage everybody to give it a go, we don't stigmatise failure."

Mr Coppinger was joined in a panel discussion at the event by Evelyn Moynihan CEO of the Kilkenny Group and Pamela Laird CEO of Moxi Loves which was chaired by Cork Chamber CEO Conor Healy. The panel discussed their backgrounds and progress into business. 

Ms Moynihan said that Kilkenny stores operated across retail, tours and hospitality, three of the worst affected sectors during the pandemic and spoke of their efforts to transform into a digital-focused business.

The conference, held in the Hayfield Manor Hotel, was the 40th in the Commerce Society's history and one of the first in-person events held in the city since the lifting of Covid-related restrictions last month.

(Left to right) Conor Mowlds, Chief Commercial Officer, Port of Cork; Amy Ryan, Auditor, UCC Commerce Society and Prof John O'Halloran, President, University College Cork at today's conference. Photo: Larry Cummins

A second panel chaired by the Director of West Cork Education, Dr Dympna Daly included Denis Lucey, Vice President at Dell, Grace Lordan of the London School of Economics and Fiona Parfrey of retail startup Riley.

The final panel was chaired by Conor Mowlds the Chief Commercial Officer of the Port of Cork who was joined by Sam Roch Perks the CEO of the Simply Blue Group which is developing offshore wind farms in Ireland, Elma Teahan, Director with KPMG and Aengus Fitzgerald, co-founder of sustainability social media site DuuGong.com

"The landscape for business, not just in Ireland but across the globe, is increasingly complex and continuously changing. We experience this first hand, each day in our position as a key hub for international trade and transport," Mr Mowlds said.