Latest news with #MentorsWork
Irish Examiner
23-05-2025
- Business
- Irish Examiner
Mentors offer support to SMEs in a bid to halt small firm closures
Mentors are helping Irish small firms master AI and other new tech, guiding them through the impacts of the energy crisis, inflation, labour shortages, and now the growing risk of a trade war. David Broderick, director of the Small Firm's Association (SFA), is encouraging SMEs to participate in the latest MentorsWork programme, an initiative of Skillnet Ireland and the SFA. Since its launch in 2020, MentorsWork has supported nearly 4,000 small and medium-sized enterprises (SMEs) across Ireland, investing €6.5m to drive SME growth, resilience, and innovation. It covers people management, business processes, finance, growth strategies, and digitalisation. This year's 12-week programme will support another 900 SME business owners and managers, from all industries with 1-250 employees. Each participant is given a dedicated, experienced mentor, plus masterclasses and peer-to-peer workshops. Research by business energy provider estimates that more than 3,250 Irish SMEs have closed since the start of 2025. In this Q&A interview, David Broderick of the SFA outlines the vital role that MentorsWork can play in minimising future SME casualties. Q1. In what ways can mentors help SMEs boost their resilience and innovation? For SMEs, resilience and innovation aren't just strategic advantages — they're essential to long-term survival. At the heart of the MentorsWork programme is the one-to-one mentoring relationship, which plays a critical role in empowering SME leaders to build both. MentorsWork offers each participant a dedicated, fully funded business mentor, carefully matched based on the specific needs of their company. These mentors bring real-world experience and sectoral expertise, working closely with SME owners over a 12-week period to tackle pressing challenges and identify growth opportunities. The process begins with a detailed online competency assessment to pinpoint the business's greatest needs, allowing the mentor to help create a personalised, actionable Business Improvement Plan. Since its launch in 2020, MentorsWork has supported nearly 4,000 SMEs across Ireland, with €6.5 million invested to date. The mentors in the programme guide businesses through key areas such as digital transformation, financial planning, people management, and sustainability — all crucial levers for resilience and innovation. What makes the mentoring model truly powerful is its adaptability — mentors don't just address the issues business owners come in with — they often uncover challenges the owners hadn't yet identified, such as inefficiencies in business processes or gaps in digital readiness. By offering tailored advice and a fresh perspective, mentors help SMEs make informed decisions, adopt new technologies, and prepare for future risks. Beyond the one-to-one sessions, mentors also help connect participants to the wider learning ecosystem within the programme — from expert-led masterclasses to peer-to-peer workshops. Here, SMEs gain additional insights on topics like cybersecurity, employee wellbeing, and strategic finance, while also helping business owners learn from their peers. By the end of the programme, SMEs walk away with a practical, mentor-guided Business Improvement Plan — a clear roadmap for the next stage of their development. For those requiring additional support, post-programme consultancy and tailored team training are also available. Q2. Do the SMEs using MentorsWork each have individual needs from the programme's range of supports? Absolutely. One of the key strengths of MentorsWork is its customised approach. No two SMEs are the same and neither are their needs, with the programme structured to reflect that. Often, business owners come to MentorsWork thinking they need support in one area, only to discover — through the initial assessment and mentor conversations — that the root of the challenge lies elsewhere. For example, a company may think it has a sales issue, but the deeper problem may lie in operational inefficiencies. This is why the bespoke mentoring model is so impactful. Rather than offering a one-size-fits-all curriculum, MentorsWork tailors its support based on each SMEs' specific needs. The one-to-one mentoring provides the space for reflection and strategic thinking, supported by targeted learning from industry experts. As the programme spans such a diverse range of sectors — from lifestyle and retail to childcare, beauty, manufacturing, and technology — the level of personalisation ensures that every SME receives relevant, practical, and actionable advice that makes a real difference to their growth trajectory. Q3. Can the programme help small businesses adopt new technologies and adjust to ever-changing market dynamics? Yes, and in today's business environment, this has never been more critical. The MentorsWork programme is constantly evolving to stay ahead of SME needs and has increasingly focused on helping businesses harness the potential of new and emerging technologies. Digitalisation, automation, and the adoption of AI are now central themes in many of the programme's masterclasses and mentoring sessions. Recognising the speed at which technology is reshaping industries, MentorsWork provides a safe and supported space for SMEs to explore, understand, and implement tools that can enhance their efficiency, customer service, and competitiveness. With over 130 workshops and masterclasses tailored specifically to current business challenges, SMEs are not only reacting to change — they are now being positioned to lead it. This proactive approach allows SMEs to experiment with new ideas and respond to market dynamics with agility and confidence. Read More Business movers: People starting new jobs in Ireland Q4. Given the high casualty rate for SMEs, how vital is the role of MentorsWork in helping indigenous businesses deal with current challenges? The role of MentorsWork has never been more important. Irish SMEs haven't had a chance to recover since the pandemic — instead, they've been hit by a series of back-to-back challenges: from Covid-19 to the energy crisis, inflation, labour shortages, and now the growing risk of a trade war. In this context, MentorsWork plays a vital role in strengthening the foundations of indigenous SMEs. By offering free, accessible, and expert-led support, the programme ensures that SMEs have a fair opportunity to thrive. It's not just about growth; it's about survival and sustainability. MentorsWork provides the practical tools, strategic guidance, and peer networks that allow SMEs to navigate uncertainty, future-proof their operations, and build long-term resilience. As the programme looks ahead to supporting 900 more SMEs by the end of 2025, its mission remains clear: to empower business owners with the skills, confidence, and clarity they need to succeed in a rapidly changing world.
RTÉ News
20-05-2025
- Business
- RTÉ News
MentorsWork invests €6.5m to support SMEs since 2020
MentorsWork, an initiative of Skillnet Ireland in partnership with the Small Firms Association (SFA), celebrates its five-year anniversary this week. Since its launch in 2020, MentorsWork has provided targeted business supports to nearly 4,000 small and medium-sized enterprises (SMEs) across the country and invested €6.5m to drive SME growth, resilience, and innovation. MentorsWork provides targeted support across critical areas, including digitisation, HR management, sales, finance, marketing, sustainability, and overall business growth. The initiative is open to business owners and managers from all industries with one to 250 employees. The 12-week programme introduces participants to a dedicated and experienced mentor who works with them to address their specific areas of concern, alongside masterclasses and peer-to-peer workshops. Mark Jordan, chief executive of Skillnet Ireland, said the programme is a fantastic resource for SMEs, delivering practical supports and strategic guidance to businesses across Ireland. "Expert mentors provide education and information to SME owners on how to innovate, adopt new technologies and adjust to ever-changing market dynamics - particularly in the current economic and technological climate," he said. "It is a testament to the success of the programme that it has reached this half decade milestone, and we look forward to its continued success and growth into the future," he added. David Broderick, Director of the Small Firms Association, said the five year milestone reflects the strength and value of the MentorsWork programme in helping SMEs overcome real-world challenges. "The initiative has been a game-changer for so many businesses. By addressing specific needs and equipping SMEs with tailored support and mentoring, we are helping them not only survive but thrive in an increasingly competitive environment," he added.
Irish Independent
20-05-2025
- Business
- Irish Independent
€6.5m invested in mentorship programme to help SMEs
Launched in 2020, MentorsWork has worked with more than 4,000 small businesses across Ireland who were looking for support in areas like digitisation, HR management, sales, finance and sustainability. Businesses apply for the 12-week programme online before they are matched with an expert in their area. David Broderick, director of the SFA, said additional supports like the programme have been invaluable to businesses that have grown 'tired and weary'. 'It was initially set up to be an active upscaling scheme to boost the productivity of SMEs. We looked at key areas like finance and people skills,' he said. 'Uncertainty is not a word that businesses like, but it's unfortunately where a lot of businesses are now – there's a lot of tiredness, there's a lot of weariness. 'They haven't had the chance to recover from the pandemic before being hit with one crisis after the other. 'We've since had the energy crisis, now there's the risk of trade war – a lot of the life supports that were put in place throughout Covid were turned off last year and that's perfectly normal, but it's hard to navigate that on your own.' According to Mr Broderick, programmes like MentorsWork are crucial to allow some businesses to catch up with their larger counterparts when it comes to areas like financing and automation. 'In trying to survive, businesses would cut back their hours, their expenditure and renegotiate with suppliers. But no matter what they do, some sectors are definitely more exposed than others – like retail, hospitality, hairdressers – they need all the help they can get. 'In addition to what a business might be seeking support for, the mentors identify areas that they could improve on – maybe it's around automation or having the right people in the right roles.' A survey carried out by the SFA last year found Irish businesses struggle most with employment costs, followed by attracting and retaining talent. 'I don't think too much has changed. The minimum wage only went up again – for businesses, their margin is completely eroding. 'On top of that, a lot of our members would actually fit into the supply chain of the bigger companies – so with questions around global trade, there's even more uncertainty,' said Mr Broderick.
