Latest news with #SumUp
Irish Times
5 days ago
- Business
- Irish Times
Half of Irish businesses have raised their prices in past year, survey finds
More than half of Irish businesses raised their prices in the past year, and are falling behind their European counterparts when it comes to innovation, according to a survey of companies by financial payments technology company SumUp . More than one in four Irish businesses have made no key changes to their operations beyond raising their prices, despite 38 per cent stating that the current economic situation had a negative impact on their business. The survey, which collected responses from businesses across Europe, found that the levels of innovation in Ireland's continental counterparts was higher than in Ireland. Nearly one third of Irish business owners reported an increase in delivery and material costs, with 16 per cent of businesses noting that delivery times have been extended. READ MORE As a result, more than half of Irish businesses, 52.2 per cent, stated that they moderately increased prices – a higher rate than their European counterparts. Trailing Ireland, 46.8 per cent of respondents in Germany had raised prices, while 43.2 per cent had done so in the UK and 40.9 per cent in France in order to combat higher delivery costs. This comes as nearly 45 per cent of merchants reported that customers have reduced their overall spending or are not purchasing as frequently. Nearly two in five businesses said customers have become increasingly price-conscious, often seeking discounts or comparing prices more frequently. Of the 945 respondents to the survey across Europe, fewer than 30 per cent of companies said they felt optimistic about their business growing over the next two years. [ Government needs to act to address 'sugar rush' of corporation taxes, says Ictu Opens in new window ] 'Innovation is now more important than ever,' said Niall Mac an tSionnaigh, chief executive of SumUp in Ireland. 'In the current economic climate , where merchants cannot rely on traditional means of growing their business, they must find new avenues to explore.' He said allowing companies to create 'innovative solutions' for businesses is critical in helping them manage times of economic stress.
Entrepreneur
13-06-2025
- Business
- Entrepreneur
"Call A Spade A Spade"
You're reading Entrepreneur United Kingdom, an international franchise of Entrepreneur Media. Ahead of Father's Day, (Sunday 15th June), global payments provider SumUp spotlights the lessons UK business leaders learned from their dads - shaping their businesses through grit, gratitude, and getting things done Research shows a clear link between parental influence and entrepreneurial ambition: nearly 40% of UK founders had a parent who ran a business, and 68% of young people with a business-minded parent or relative are more likely to consider starting their own venture. This "role-model effect" highlights how growing up around business thinking, self-belief, and risk-taking significantly increases the likelihood of pursuing entrepreneurship. In an attempt to help inspire and equip the next wave of British entrepreneurs, SumUp offers a rare glimpse into the personal stories, values, and learnings that have shaped the UK's most exciting business minds. From early lessons in resilience and frugality to values like integrity, consistency, and leadership, the advice shared continues to shape how today's entrepreneurs build businesses, lead teams, and make decisions across industries including fashion, drinks, and communications. Corin Camenisch, Product Marketing Lead at SumUp comments, "We believe the wisdom passed down through generations plays a huge role in shaping entrepreneurial success. These lessons influence not only individual journeys but also the broader future of UK business. With this in mind, we wanted to spotlight the stories behind some of today's most exciting founders and the advice they picked up from their dads. Whether it was a mindset shift, a quiet push at the right time, or simply watching someone build something from nothing - those early lessons often become the foundation for how we lead, take risks, and grow. Entrepreneurship isn't just about strategy and numbers - it's also deeply human, and the guidance we get growing up can be the difference between giving up and going for it. By sharing these reflections, we're not only celebrating the founders, but the everyday wisdom that keeps business owners going." Levi Levenfiche, co-founder at PerfectTed, the UK's fastest-growing sport and energy drink brand and Europe's largest matcha green tea brand, earning the distinction of being Steven Bartlett's most successful Dragons' Den venture. What's the best financial advice your father gave you? "Penny-wise, pound foolish," "Take care of the pennies and the pounds will take care of themselves," "You cannot put percentages in the bank," and "Turn off the lights." My parents grew up with nothing - as children of immigrants to the UK during WWII - and throughout our childhood, my dad reminded us of the importance of financial prudence. He would always get annoyed when we left the lights on or wasted food. That mindset has stuck with me and today informs how we run PerfectTed. We have always obsessed over saving money where possible and my dad's mantras such as "penny-wise, pound foolish", "take care of the pennies and the pounds will take care of themselves", "you cannot put percentages in the bank", and of course "turn off the lights" have been a major influence in our success and profitability. My dad's mantras have been a major influence in our success and profitability." On leadership: Expectations are set at the top. And, as soon as you lower your standards, a new benchmark is set. My dad's business is owning and managing rental properties. While he is the owner of the business, and there is a small team that manages and maintains the apartments, my dad has and will always be the first person to answer a tenant's call no matter the problem. My dad has and will always be the first person to unclog a pipe, to pull weeds from the driveway or fix a broken window. No job has ever been beneath my dad, and that is a lesson we have taken into our business. Despite having a growing team, we are always the first to take out the trash. 99% of people will never see the physical labour that is required from us as founders, but, like our dad, we have never shied away from getting our hands dirty and being the first person to step forward and take action. On work ethic and resilience: The hardest arithmetic to master is that which allows us to count our blessings. My parents never had the opportunities that we had growing up. My dad (and my mum) left school at 16 to start earning money, despite wanting to go into higher education. They worked incredibly hard (my mum in a hair salon, and my dad in real estate) to make a life for my 3 brothers and me. The work ethic, the resilience, and the drive for success that we carry - that is embedded in PerfectTed's culture - have their roots in the struggles that my parents overcame. [He] instilled gratitude and grit in his sons. Personal advice: "Just go for it." My dad is my hero. If nothing comes of our efforts, I would be happy just knowing that our efforts made him proud. My dad has always said, about everything in life, "just go for it," and had he not encouraged us to take risks (not gambles - he has always been incredibly anti-gambling) there would be no PerfectTed. Eshita Kabra-Davies, founder of By Rotation, the world's first social fashion rental app - and the world's largest shared wardrobe - enabling over 500,000 users to both monetise their wardrobes and enjoy high-end fashion for a fraction of the cost. The best financial advice: In business, money saved is money earned. On leadership: A leader is a learner - you'll realise all the things you are and you aren't - and hopefully if you're a good leader, you'll inspire the greatest conspirers to build and deliver your vision with you. On work ethic and resilience: What doesn't kill you makes you stronger, so never stop persevering - especially when the others burn out. You want it more than them, and so you will have it, if you keep going. Personal advice: You'll never be the same person you are once you set out on your entrepreneurial journey. If you like who you are and where your life is today, well, then you're in for a total ride for what By Rotation will turn you into! Mark Rushmore, co-founder of SURI, the UK's award-winning sustainable oral care brand revolutionising the electric toothbrush industry to tackle the 4 billion discarded each year with eco-friendly innovation and global recognition. On leadership: Be direct and honest - call a spade a spade. Watch carefully how people behave, not just what they say and prioritise respect over being liked in business. My dad has an incredible ability to be able to identify the core of an issue and deal with it directly - even if that means an uncomfortable conversation. I've found this an efficient way to address challenges and ultimately get to the best solutions. Any time I've had a significant or challenging issue at work I always seek my father's advice, as he's very good at seeing problems and solutions clearly. On work ethic and resilience: Anything you can visualise is achievable. This was a powerful belief of his. He also encouraged me to write down my goals, a practice I still follow. It's quite amazing how many of those goals have actually materialised, even recently with SURI being featured by Gwyneth Paltrow's 'Goop'! When it comes to work ethic, my father has always led by example. Starting with very little, he worked incredibly hard from the age of 16 to build a better life for himself and our family, and he shows no signs of stopping. For instance, every year he dedicates his time to creating a detailed, multi-page family photo album for my mother's birthday. It's a truly labour-intensive project, and I believe these albums will be treasured by generations to come - they're certainly more precious to me than anything money could buy. Personal advice: There is much more to life than just business and financial success. What you do for work does not define who you are. I've proactively taken a couple of sabbaticals to travel the world and go on adventures. My father didn't take more than 2 weeks of holiday in one stretch throughout his career. Although he didn't have the opportunity to do this himself, his ability to resist 'the norm' and create his own path inspired me to do the same, albeit with travelling. Julian Treasure, founder of The Sound Agency, author of Sound Affects, and creator of The Listening Society. He's also the speaker behind the UK's favourite TED Talk - one of the most-watched TED Talks of all time, "How To Speak So That People Want To Listen" What's the best piece of financial advice your father gave you? Never chase money. If you do the right thing, money will find you. On leadership: The best is the enemy of the good. On work ethic and resilience: You start from where you are. Personal advice: Happiness is never over there. It's only ever here and now.
Irish Independent
05-06-2025
- Business
- Irish Independent
The Big Tech Show: How Kilmacud Crokes' corner forward became CEO of payments giant Sumup
Niall Mac an tSionnaigh, CEO of SumUp joins Adrian on this week's episode of The Big Tech Show. The conversation by Niall talking about his wife, Terri Ann Fox, finding it extremely difficult to set up a business account for her organic produce from their organic farm in Wicklow. When Niall's wife bought the SumUp Air (card reader device), he was so impressed by the technology that he joined the company. You can listen to the full episode here on the Irish Independent website or wherever you get your podcasts. The Big Tech Show: How Kilmacud Crokes' corner forward became CEO of payments giant Sumup
Irish Independent
23-05-2025
- Business
- Irish Independent
SMEs ‘need all the help they can get' with GDPR and Dora rules, says SumUp compliance chief
Claire Gillanders added: 'When you're struggling to stay afloat, it can be hard to keep up with new regulations and rules.' Ms Gillanders works with Irish SMEs to help them manage their finances and stay on top of new regulations around issues such as risk management and cyber security. 'It's evident that small businesses are struggling – with the cost of living increasing and the cost of running a business higher than ever. Especially with the really small merchants that we work with, it can be super challenging,' she said. 'These businesses are ready for new regulations, it's just challenging because a lot of them would be one-man bands trying to juggle all the aspects of running a business, which is harder than ever now.' Ms Gillanders expects that AI, GDPR regulations and Dora, which came into effect this year, will be some of the greatest challenges. Dora, or the Digital Operational Resilience Act, are new regulations for tech and financial companies to prevent cyber risks through clear-cut rules around risk management, classification and reporting of cyber incidents. 'My background is in risk management – my philosophy is that you can't manage what you don't know about. For SMEs who have staff, creating awareness around those requirements and the importance of following them can be really important,' she said. 'The biggest impact of getting these regulations right can be the question of trust – customers need to trust the tools you offer them, it's about being able to rely on your payment-service provider. If a business fails and that trust is broken, it's really hard to get it back.' In her role, Ms Gillanders supports product-development teams and technology teams in fintech organisations to understand their obligations. She thinks an important step is to ensure companies are aware of the resources available to them. 'We need to focus on helping SMEs understand what resources are already available to them – it's all there online, business owners can network and find those tools that will help them,' she said ADVERTISEMENT 'Going forward, businesses also need to catch up on AI governance. We also need to look at data privacy and security, to ensure that customers are comfortable if they're using these tools to manage compliance.' SumUp's work to bring companies up-to-date with these regulations falls under its 'merchant care' services. Having spent over four years working on the risk-management strategy SumUp offers, Ms Gillanders finds that fintech is changing as a sector. 'The idea of fintech really appeals to me. I've run a small business as a hairdresser, I've worked across different sides of the corporate banking world at the Bank of Ireland, CitiBank and PTSB before I joined SumUp in 2020,' she said. 'I think the sector is changing, there's a real focus on women, and ensuring that diversity and inclusion is here to stay. Ultimately, that helps us stay ahead of the curve.'
Irish Independent
23-04-2025
- Irish Independent
Check out Cork attraction that is Ireland's eighth most ‘underrated' tourist hotspot
The Cork attraction has been open to tourists for just over a decade A Cork tourist attraction has been listed among Ireland's most 'underrated' to visit this year. A new report from SumUp, known best for their contactless payment terminals that flooded mobile coffee shops during the pandemic, has revealed Ireland's most underrated tourist hotspots. The study considered a number of factors, including number of reviews, tourist traffic, and the cost of public transport. Rated first on the list is Dublin's 14 Henrietta Street museum, with Skellig Michael in Kerry and the Slieve League Cliffs in Donegal also placing within the top three. However, Spike Island, across the water from Cobh, has earned itself a respectable eighth position in the rankings, scoring 84.85 points out of 100 on the index. Spike Island has a long and storied history. Known best as the site of a prison for many decades, the first settlement dates back to a monastery built in the 7th century, while the largest convict depot in the world during Victorian times was also situated on the small island in the middle of the harbour. Spike Island had previously held a Defence Forces barracks before the prison, with families of army members forming their own community on the island, that had a small primary school and a number of houses, still intact from its army days. The island served as a prison as recently as 2004, with its most infamous moment coming when prisoners rioted in 1984, causing destruction and damage to the prison and some of its historic property. In 2010 it was handed over to Cork County Council, who put significant work into updating the site into a tourist centre, which opened in 2016, and serves as the perfect day trip on the Cork-Cobh train, as boats bring visitors over and back from the nearby town several times a day. Spike has a number of walking trails that go around the island, as well as a museum on the main Fort Mitchell, and a schedule of ever-changing exhibitions that keep every visit fresh. 'We created this ranking to spotlight some of Ireland's hidden gems—places that are often overlooked in favour of the usual tourist spots like Dublin Castle or Guinness Storehouse,' said Corin Camenisch, Marketing and Growth Leader at SumUp. 'By highlighting these underrated hotspots, we're hoping to show people spots they might not know about and spread the benefits of local tourism.' 'With TikTokers and influencers constantly sharing cool, off-the-beaten-path places, more and more people are eager to discover unique destinations, and we think that's a great way to help local economies thrive. By bringing attention to these lesser-known landmarks, we hope to not only provide visitors with new and enriching experiences but also support small businesses that may not have the same visibility as those placed in larger, well-known, tourist attractions. 'These hidden gems often rely on tourism to sustain their operations, and by shining a light on them, we're hoping to ensure that local businesses can benefit from a steady flow of visitors, which is crucial for their growth and long-term success.'
