Webinar Wrap-up – Financial Planning for Clubs

19th March 2021, 19:16pm | National

Bars

Gymnastics Ireland wrapped up Thursday evening with the Financial Planning for Clubs webinar with Mairead Kavanagh & Amanda Kinahan. This was the third of our Club Support Series sponsored by our insurers, Marsh.

Mairead Kavanagh is the current Deputy Chair of the Gymnastics Ireland Board. In addition to her role as Bank of Ireland’s Head of Business Banking in Cork City, Mairead has been a WAG Brevet Judge since 2001 serving as D & E Panel Judge at Europeans, Youth Olympic Games and World Championships. She also made history by being selected as Ireland’s first WAG Judge for the Rio 2016 Olympic Games.

“Take the time now to get a better understanding of the financial position of your business. Get comfortable with the numbers and what they mean and plan for the future ensuring your decisions are robust and open to challenge. If you do this and you use this time wisely, you will reap the rewards when you reopen. As a Governing Body, GI are providing excellent support and leadership so lean on them and your own advisors and ensure that you are availing of all the Government / Business supports that you are entitled to. By doing these simple things, you are not only ensuring the future viability of your business but also ensuring that it will transition out of Covid as a leaner, more profitable business into the future.” Explained Mairead.

Amanda Kinahan is the current Company Secretary for Gymnastics Ireland and served on the Board for over 7 years. Her financial oversight and reporting skills have been invaluable throughout her tenure. Amanda is a qualified Chartered Accountant with over 20 years’ experience in this area. Like Mairead, she has competed internationally as a gymnast, and stays actively involved in the sport through coaching and judging.

This online event was designed to support gymnastics clubs which operate for the most part as Small to Medium Enterprises (SMEs). The webinar delivered insightful information on how to manage and grow your cash flow, build up your reserves, ways to best prepare when applying for a loan from a Bank, take advantage of grant opportunities and plan your finances to future proof your club.

Gymnastics Ireland CEO Ciaran Gallagher said:

“As we emerge from COVID-19 restrictions tight financial planning will be crucial to getting back to where we were in Feb/March 2020. Our clubs are now running successful community based sports businesses and understanding of their financial models/planning on a multi annual basis will only help them continue to grow and expand. As accomplished financial sector employees I have to thank Mairead and Amanda for bringing their professional expertise to the club network”

Make sure you register for next week’s webinar "Building & Training Resilience, Grit & Anti-fragility"on Tuesday 23rd March 2021 and “Club Employment Contracts, Leases, Licences, Complaints & Disciplinary Procedures” on Thursday 25th March 2021. Click on the name of the webinar to see how to register...

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