Cork remains 'open for business' despite wave of recent closures

Speaking at the launch of the CBA's 5-Year Strategic Framework, Lord Mayor Cllr Kieran McCarthy told businesses it was important to not "frighten off investors"

Kevin Herlihy, CBA and The Lord Mayor of Cork, Cllr Kieran McCarthy pictured at the launch of Cork Business Association’s Ambitious 5-Year Strategic Framework for Business Community in Cork City Centre. Picture by Chani Anderson

Despite a turbulent start to the year which saw several long-standing companies permanently close their doors, Cork is “open for business” and must remain so to ensure a sustainable future.

That is according to Lord Mayor Cllr Kieran McCarthy, who, speaking at the launch of the Cork Business Association’s (CBA) 5-Year Strategic Framework, warned against sending out a collective narrative.

Noting "continued investment across Cork city, Mr McCarthy told attendees, “It’s important that we don’t frighten off investors."

“If people thought everyone in the city was under pressure, that the whole place was going to collapse, people would not be investing.

“We need to make sure that we bring in more investment. There are people here with huge plans for the future, but I also know there are people really struggling and we need to work closer with them as well.” 

Speaking at the Imperial Hotel on Thursday night, The Lord Mayor welcomed the launch of the CBA’s 5-Year Strategic Framework, which the voluntary organisation has called an “ambitious” plan providing “a clear vision, objectives, and pillars with actionable steps for the future.” 

“The framework considers the challenges and opportunities facing businesses in Cork City and will help realise our collective vision of a city where people are drawn to shop, work, socialise, live, and play, where businesses survive, thrive and the city prospers,” said President of the CBA, Kevin Herlihy.

Members of the CBA Executive, which will expand to include several new committees as part of the strategic plan. Photo: Brian Lougheed

The five strategic pillars developed by CBA include a new leadership plan  which will see additional roles within the organisation, initiatives aimed at creating a “safer and cleaner” Cork city, more networking events for businesses, member advisory services and a “strong vision” for Cork City Centre 2030.

Described as a “key tenet” of the CBA’s framework, the 2030 initiative will call for several innovations including more offices and employment in the city, a housing-oriented city centre, improved public service, reduced carbon emissions, flooding protection and policy submissions on transport.

“Cork city has a population of 210,000 people,” Mr McCarthy told attendees. “In 20 years’ time, it will be 400,000 people. All of the challenges that we have at this moment in time – if we don’t deal with them now, they’re going to double in the next 20 years.” 

The event also heard of mixed results across small Cork businesses, with many forced to permanently close while others reported a boost in profits driven by support from shoppers for local traders.

Since the start of January, four high-profile restaurants have closed in Cork, including the long-standing establishments Nash 19 and Tung Sing.

This month has also seen the closure of retailer, Twilight Newsagents and Cork's Baldy Barber, which is shutting after 58 years in business. 

“I know closures of certain restaurants have brought much sadness and reactions on social media," the Lord Mayor continued. 

"But there are early reports from some businesses that it was a bumper Christmas, and groups such as Share saw large numbers of people donating very generously – more so than ever before - but there is still a large body of work to be done."

“Cork is one of the highest proportions of owner-led offerings in the country, we need to mid that. More than 90% of businesses operating in Cork city employ less than 10 employees – they’re the foundation of Cork city’s economy. Whatever we do going forward, this needs to be minded.” 

Speaking in his concluding remarks, CBA President, Kevin Herlihy told the event, “We invite Cork businesses to collectively come together to support us in actioning this plan. Together, with shared vision and collaborative efforts, CBA aims to shape a future where Cork stands as a beacon of prosperity and resilience.”