KEEPING THINGS simple was the way forward for rural communities, a symposium on economic development in the Gaeltacht community of Iveragh in south Kerry was told at the weekend.
However small businesses were also warned at the Waterville meeting of a continuing credit crunch and of having to factor in the possibility of the euro disappearing.
In his address to Múscailt Uíbh Ráthaigh, Brian McCarthy, founder of financial services company Fexco – now a major employer in Kerry – said the company came about as a result of deregulation of the foreign exchange section of the banking industry.
Warning that too much regulation would stymie development, Mr McCarthy said many opportunities may become available to entrepreneurs if further deregulation occurs in various sectors.
Colm Healy of the Skellig Chocolate Company, a leading employer in Ballinskelligs, told the meeting that keeping things simple was the way forward.
“Faced with an unprecedented economic challenge, continued emigration and a remote geographic location, Comhchoiste Ghaeltacht Uíbh Ráthaigh [a community development organisation located in South West Kerry] is taking on the challenge of addressing issues that affect rural communities throughout the country, starting at their own front door,” spokeswoman Caitlín Breathnach said.
The symposium also heard from Waterville native Brian Lucey, associate professor of finance in Trinity College.
“People in small businesses need to be aware the banking system will continue to be broken and access to capital will get even more problematic,” Prof Lucey said.
This would be exacerbated if the euro disappeared or if Ireland was forced to leave the euro, he added.
Angry contributions from the floor criticised the failure to close down Anglo Irish Bank.
Dr Micheál Ó Cinnéide of NUI Galway said: “We cannot avoid changing times and those changes are happening quicker by the day.
“This means essentially that communities have to continually change and adapt to the new reality. Entrepreneurs will be the first to identify and act upon new opportunities.”
A number of initiatives are expected to emerge from the weekend, including a tourism marketing plan, amid criticism that the State’s tourism agencies were not doing enough to showcase the Iveragh peninsula.