Rising insurance costs putting local marts in real danger
Mountrath mart in Co Laois ceased trading in recent times due to rising insurance costs and many other establishments have warned that they could soon follow suit, should costs not come down in the near future. Numerous marts have joined forces and are due to meet in the coming weeks in a bid to try and find a solution to the issue.
“It is one of the things where all of the marts are in the same position,” said Charlotte Kearney, Manager of Granard Farmers' mart.
She added:“Overheads such as insurance are rising all of the time and that drain on finances can really be the tipping point for any business to either stay afloat or go under.”
She warned that although Mountrath's closure has raised the issue in the media, many other marts have long been feeling the same pinch.
“It has taken for a mart to go this way for it really to be an issue for us all to come together on.”
“We are all trying to get together to lobby the insurance company to see if there’s anything that can be done.”
Charlotte told the Longford Leader that the loss of a mart would have a huge impact on rural life: “I can only speak from my own position here, but it would be a huge loss. There are over thirty people alone employed here in this mart.”
“People might say that marts are only open two days a week, but we’re open five days a week here and there are staff here on all of those days.”
The mart manager reiterated that should a livestock mart ceasing trading, other local businesses would suffer as a result.
“If this industry was gone, it would be a huge loss for the town, it definitely would.”
She said: “Thankfully, we are in a very good position and we are supported very well locally. We are able to provide a good service because of the custom we have built up throughout the years.”
“But there is only so much a name can fight against rising costs, such as rates and insurance. Those big ones are what that can make or break any business, no matter how big or small.”