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Spend Ireland – Saving the Irish Economy

Are we all totally helpless faced with the current recession or is it just possible that each of us could make a difference and help economic recovery?

The simple principle that should be driving the whole economic wheel is ‘Spend Ireland’, which is encouraging money to be spent in Ireland, on Irish products and services. It is time to be very patriotic and spend our euros where it will have a direct Irish benefit. We need to fuel the economic spend wheel by putting our euros back into it and ultimately it will come back to us somewhere along the line.

How can we play a part in this?

• Try as much as possible to spend your income in Ireland and on Irish products and services
• If you have disposable income don’t be afraid to spend it – never has there been greater value to be had. Only spend what you can afford but enjoy spending it!

These small personal choices can make a huge difference when we all make them, for example:

• Buying Irish products from fresh food and other product choices – avoid the imported option if possible
• Eat out instead of buying that ready made meal in the super market – the early bird specials offered by restaurants are great value and they could do with your business. If you buy the readymade meal make sure it is Irish!
• Buying products in local stores rather online – the local store is employing local people, paying local rates and rent and contributing to the economy
• Buy holiday clothes before you leave rather than when you get there

The big personal choices can make an even bigger difference:

• If you are in a position to buy a new car and would normally change around this time then go for it - there are great deals out there
• If you have been planning a house extension or redecorating job then go ahead and do it – you will get great value and the there are no shortage of builders
• Holiday in Ireland if you can or choose Ireland for weekend breaks instead of breaks abroad. The hotels, restaurants, bars and tourist attractions could all do with Irish euros at the moment and all are offering better value than before.
• If the Irish option is more expensive don’t be afraid to ask for a discount and explain that you are trying to spend on the Irish option. It’s trendy to be thrifty!

Some people may not agree with this new way of thinking and say that we have been ripped off for years and why shouldn’t we shop where it is cheapest? Of course there is an onus on the Irish service and goods provider to offer good value and this ‘idea’ will only work where this actually happens. We should at least give the Irish supplier the chance to offer the value - the economy needs us to ‘Spend Ireland’.

The much bigger part of the whole Irish spend wheel is the effect of our personal choices in our professional lives.

For the business person – buy Irish products and services wherever possible and really work hard to make the Irish option work. Keep as many employees working as possible. If you have the financial strength and performance to see out this downturn sacrifice ‘super’ profits for ‘average’ profits and maintaining employment. Be open and honest with staff and avoid taking advantage of the current circumstances.

For employees – times are tough so appreciate what it is like at the moment for your employer. Go the extra mile whenever possible – this is now an expectation. Be prepared to be flexible – be fair as long as you are being fairly treated.

For the property developer – the previous business model is broken; buyers are not there due to banking rules. Look at your sales model and be creative, with some flexibility and other options such as Rent2Buy you will find new buyers and the wheel can start turning again.

For the landlord – adopt a new way of working that is fair for both you and your tenants. Full units are better than empty units.

For the banker – you need to start taking reasonable risks again so that the wheel can keep turning.

For our politicians – for God’s sake show real leadership and lead us positively from this awful mess. The recent budget is an excellent example of how lack of spending in Ireland can affect all of us – the tax take is down, unemployment is up so we get increased taxes: While you have to do the accounting job you also need to take positive initiatives that encourage business in a real way and encourage the Irish to start taking risks and spending again.

So, there it is. A possible solution to the mess we find ourselves in. Let’s show our colours and play our small part in fuelling an Irish recovery and let’s not forget the painful lessons we are learning now in a hurry.

Greg Canty is a partner in Fuzion Communications, providing Marketing Consultancy, PR and Graphic Design services.

For a consultation contact greg@fuzion.ie