D Friday, January 22, 2010 Business 19 business@metroherald.ie Business & Finance DOWNDOWN v$v$ vv DOWNDOWN ISEQISEQ by 42.66 at 3,044.87$1.40 0.87 Business Bites THREE in every five employees in architectural companies have lost their jobs since 2007. A survey by recruitment company Hays found that almost one third of firms have laid off between 61 per cent and up to 100 per cent of their staff in the last two years. Hays architecture manager Paul ODonnell said: One practice we spoke to had shed 168 out of 180 jobs. The 178 firms surveyed had 2,306 employees in 2007, but this had fallen to 945 by the end of last year. Thats my business Gina Hennessy Taking a size nine shoe, it was frustration at not being able to find beautiful shoes that would fit that led Gina Hennessy to start Cinderella Shoes. The company now has a loyal Irish and global following thanks to its shop and website Interview by Joanne Ahern Running a company isnt easy; if it was, everybody would be doing it Why did you start your own business? As a young woman I was told that I had to make a special appointment with a local shop that sold a few larger sizes as I wasnt quite their normal type of customer. It was at this point that I knew that Cinderella Shoes would sell footwear via the best website that could be designed [cinderellashoes.ie] and that everyone who visited a store would be an honoured guest, rather than a problem customer. Why did you choose this business? I wear a size nine myself so I am part of our target market. I couldnt buy shoes on the high street in Ireland. I had to buy shoes mail order from the UK or the US. What kind of a reaction did you get from friends and family when you told them you were starting your own company? We got fantastic encouragement from friends worldwide and the ever-changing face of retail, we are constantly growing and evolving and trying to break into new markets. When we opened our retail store in St. Stephens Green in 2008, this brought a whole new set of challenges. The result has been fantastic because women like me now have a dedicated shoe store. How did you finance the launch? It was self-financed, so I was lucky enough not to need a loan. Was it easier than you thought? Realistically, it was a lot more difficult than I initially thought but because it was a niche market and I wasnt prepared for this. If you were doing it again what would you do differently? I dont think I would change anything because every experience we have had in the company has brought us to where we are today. and family from the outset and a lot of help along the way. They have been very supportive and my family are still very much involved in the running of Cinderella Shoes. Roadshows around the country are a huge part of our business and my family have always been very hands on in this side of the business. What did you do before you set up your company and how did it prepare you? I was already self- employed. I had a hair salon in Tullamore for ten years, so I had great experience in many aspects of running a company, in particular in customer service, HR and accountancy. I dont think you can ever be fully prepared for the challenges a niche business such as mine can throw at you, but having the basics has certainly stood to me. How long did it take you to get it off the ground? It took about three years to really get Cinderella Shoes up and running. With the explosion of online shopping Whats the best piece of advice youve gotten along the way? Never overpromise and never underdeliver. What advice would you give to people setting up their own company? Be realistic about goals and objectives. Running a company isnt easy; if it was, everyone would be doing it. It requires 100 per cent dedication, but from my point of view its worth it all when a customer comes to us frustrated, but leaves with a smile on their face. Anything else? We are always adding new designers to our range and all our shoes are specifically designed to complement the longer foot. In autumn, we launched a new range of Italian designer bags manufactured with the finest Italian leather. Weve already had a fantastic reaction from our customers. Cinderella Shoes, in St Stephens Shopping Centre, is open from 10.30am to 6pm Monday to Saturday. 150 jobs will go as Ryanair cuts flights By Colm KelpieBUDGET airline Ryanair is slashing flights by about 20 per cent per cent at Dublin this summer, leading to the loss of 150 jobs and more than 2,000 support posts. It blamed the reduction in the frequency of services from the end of March on airport charges and a Government travel tax. The airline said 150 pilots, crew and engi- neers and more than 2,000 support workers will be laid off as a result of the cuts. Ryanair boss Michael OLeary warned fares would increase out of Ireland by at least ten per cent, with no more free seat sales over the next 12 months. He said passenger numbers at Dublin had fallen by 3million in the last year, blaming rising airport fees and the 10 per departing passenger tax in the 2009 Budget. But the Dublin Airport Authority (DAA) said Ryanair was reducing flights to suit itself, claiming the airlines own charges had soared in recent years. From June to August, the airline is to increase its sun-holiday flights from Dublin including Alicante, the Canaries and Ma- laga saying passengers would pay more for those destinations in the summer. Ryanair passenger numbers grew last year, by 7million to 73million, Mr OLeary said, but the expansion was outside Ireland. Blames tax: OLeary EBAY forecasts for 2010 are above expectations after it posted double-digit revenue growth, sending shares up eight per cent. The online trading site, which is in the middle of an overhaul, as it competes with Amazon.com and other retailers, saw a 24 per cent increase in its gross merchandise volume, which measures the total value of goods sold. The website posted a profit of $1.4billion (1bn) for the fourth quarter of its financial year. THE value of Irish exports fell four per cent in November, while imports rose six per cent, leaving a trade surplus of 2.7billion for that month, according to the Central Statistics Office. Exports in November 2009 fell by 14 per cent from November 2008, while imports were down 18 per cent. The figures show a big drop in trade with the UK, with goods exported falling by 16 per cent, while imports were down by 32 per cent. index.html2.html3.html4.html5.html6.html7.html8.html9.html10.html11.html12.html13.html14.html15.html16.html17.html18.html19.html20.html21.html22.html23.html