Business News

Bord Bia and PWC help food industry scale new heights

By Business & Finance
14 August 2015
Bord Bia and PWC
Bord Bia Manager Olivia Slevin and PWC Director Colm O’Callaghan

Bord Bia, supported by PWC, have launched a new initiative aimed at helping medium-sized food and drink companies address their ‘growing pains’.

According to Bord Bia the ‘Ascent’ programme is targeted at companies who find themselves at a crossroads and recognise the need for intervention if they are to achieve their full market potential.

“Ascent is a new, bespoke service designed to provide targeted, personalised support to a small number of Irish food and drink companies looking to identify and overcome obstacles to growth,” commented Olivia Slevin, manager, Bord Bia. “From our experience, companies often have the capacity and drive to scale up, however they may be faced with a challenge such as production, export market analysis, team structures, brand positioning, financial planning or category management. We believe external support and advice will help address and overcome these stumbling blocks and as result companies will be better positioned to expand into sustainable and profitable growth.”

Bord Bia has partnered with PWC who will assist in terms of the initial diagnostic, problem solving sessions and the mentoring where appropriate. Speaking at the launch today, PWC director Colm O’Callaghan highlighted the importance of continuous support for companies. “Many companies plateau after the first growth phase and can find it difficult to break out of that position for a considerable period. For companies with an ambition to succeed in the second phase of growth, a specific set of resources is required to support their development. That’s why PWC is delighted to partner an initiative such as Ascent which will help deliver a comprehensive suite of services across a combination of key areas including strategic review, consumer orientation, branding, product quality and peer and expert advice to companies with the potential to significantly grow their business.”

Applications are now open for companies interested in being a part of the inaugural Ascent programme. Applicants should have an annual turnover over €1m and less than €10m. There is a €500 participation fee for companies who wish to avail of this service, however the mentoring and diagnostic supports will be valued at a minimum of €10,000. Deadline for applications is Friday, August 21st 2015.