In life, in sport and in business, the decisions we make impact the relationships we build, the medals we collect and the profits we earn. In January 2018, the Board of Management of Shelbourne Football Club (aka ‘Shels’) made an innovative strategic decision to reorganise the internal governance structures of the club by bringing in a new strategic investor and also in creating a new executive position at board level.
Due to the unprecedented number of neglected donkeys in Ireland over the past number of years, The Donkey Sanctuary Ireland has had to refocus its traditional way of working and has recently introduced a Donkey Welfare Improvement Scheme, as an alternative to bringing donkeys into permanent residence at its farms. This change was needed because the number of animals in the charity’s care grew beyond sustainable levels.
In line with the EU’s anti-money laundering (AML) directives, beneficial ownership registers have now been introduced in many EU countries, including Ireland, which launched its Central Register of Beneficial Ownership (RBO) – logging the ultimate beneficial owners of Irish corporate entities – on 29 July 2019. But what does this mean for Irish businesses, in practice? Who is affected? What needs to be done, and by when? And what will happen if compliance isn’t achieved?
This is the question asked by many Irish residents who have worked in the UK in the past and have, as a result, preserved workplace pensions. Very often they have little idea as to the pension’s true worth, how the funds are invested and their options under ‘pension buy out’ and ‘pension freedom rules’. These concerns are particularly pertinent in the light of Brexit and sterling weakness.
A new relationship with the word failure is needed on the part of many business leaders – one that recognises its importance in creating the type of corporate culture necessary to remain relevant and competitive in the digital economy.