Member Spotlight - Amstrow Corporate Services ( Ireland) Ltd.
Q1. Where did the idea come from?
Having set up and operated several corporate service provider companies for larger International services providers I realised there was a gap in the market for an Irish owned corporate service provider to specialise in certain areas such as aviation, capital structures while also working closely with small/medium accountancy/solicitor practices to set up and manage their client structures. We also noted that there was a gap to help new start-up Irish companies that need assistance with Investors relations and company records to comply with the Irish companies act.
Q2. How has the business had a positive impact on Drogheda and District?
While we have an office in Dublin, London and Drogheda we are putting all our operational activity into the Drogheda office and plan to grow this. We are also part of the initiative set up by the Mill to promote Drogheda as an aviation cluster to attract companies in the aviation sector similar to the M1 Payments Corridor project that was successful previously. There is already a large community of companies involved in this area and we manage several aircraft leasing platforms for international lessors.
Q3. What do you think has been your biggest achievement with the business?
At the start it was great to work with local businesses to get the business and operations off the ground and to onboard our new clients. It has also been nice to see the vision we had resonates with our clients by providing something different and specialised knowledge in certain areas which adds value to their business. To develop relationships with the local accounting firms and solicitors in Louth and Meath has also been fantastic.
Q4. What’s next for the business in Drogheda?
We really see Drogheda as a massive potential due to its alternative location to Dublin and similar to such schemes as the Shannon region. Covid has really highlighted and changed the way people work and as a local person that had commuted to Dublin for over 25 years, people now want to live and work close to home and especially my generation with young families. Our model was always set up to facilitate this and empower employees because when you are working with multiple international clients in the USA for example you need to be available sometimes late in the evening but frees up your time in the morning for other daytime activities.
Q5. Tell us one thing people might not know about the business.
While we work with International clients setting up operations in Ireland, we also help local accountancy and Law firms set up companies for their clients under our company formation licence.
Q6. What is the best piece of business advice you’ve ever been given?
When starting off I ran our business plan through an accountant friend of mine, and he reminded me that no matter what sales forecast you have your cashflow forecast is the most important and is an important part of our monthly reviews. Shortly after that I bumped into a director of a large international competitor who I knew of at London city airport and we had a chat. He said, “you will be surprised at how many companies like the smaller guys, as they have direct access to decision makers, can model the service around the client and can move a lot quicker”.