‘Irish Entrepreneur’ struggles to survive the recession
Ill fated cover originally intended for the Jan 09 issue
Glossy magazine has only published once in twelve months
The Irish entrepreneurial spirit is renowned worldwide and many are now hoping that it is such endeavour which can rescue the economy from the current recession. However, the omens are ominous if the fortunes of the ‘Irish Entrepreneur’ business magazine are anything to judge by. The magazine which is devoted to celebrating success and the all conquering attributes of the Irish entrepreneur is itself struggling to survive.
The monthly magazine only managed to produce one issue last year. That was as far back as January 30th, 2009 last when a special edition was distributed free of charge, exclusively with The Irish Times. Meanwhile Morrissey Media which publishes the glossy were selling annual subscriptions at €100 for ten monthly magazines.
The ‘Irish Entrepreneur’ faired a little better in 2008 when it put out five magazines including a redesigned May edition which was launched by the outgoing Taoiseach, Bertie Ahern and engaged PR guru, Terry Prone as Editor. Terry Prone’s relationship with the Vanity Fair lookalike mag was short lived, for one issue only. Other high profile contributors and editors like John O’ Keeffe, George Hook (and yours truly) have also parted company with the business magazine.
The template for the magazine was to profile and fete the country’s business elite and in the process celebrate their success and garner advice to help cultivate and foster the best of the Irish business dynamic. Apprentice boss Bill Cullen, always a favourite with the magazine’s founder and publisher Maree Morrissey, featured as the cover story on the second ever issue in June 2003. The inaugural edition in November 2002, with Jim Kerr of Simple Minds as the featured ‘entrepreneur’ was a flop and it was back to the drawing board. The magazine’s final issue of 2008 was billed as a ‘Survival Special’ that November and featured such business luminaries as Bill Cullen, Fergal Quinn, Ivan Yates, Louis Copeland, Amanda Pratt, Louis Fitzgerald, Sean Gallagher, and Robbie Fox with advice and mentoring on how to beat the downturn.
Among those credited as Contributing Partners in the last published issue, a full year ago now in January 2009, were International Business Wales, Enterprise Ireland, Ulster Bank, Inter Trade Ireland and BT. It also published a list of the 100 greatest self-made Irish Entrepreneurs.
The promotional blurb for the ‘Survival Special Edition’ from Maree Morrissey and her partner and co-director David Bradley boasted a circulation of 30,790, comprised of newsagent sales, various distribution deals with ISME, Enterprise Ireland and Ulster Bank along with 7,890 individual subscribers. There has been only one other issue published since then, featuring New York based hotelier John Fitzpatrick as the cover story, along with an interview with the Foreign Minister of Somaliland, Abdillahi Mohamed Duale. It was distributed free with The Irish Times last January. That issue offered a prize fund of €250,000 in a competition for aspiring entrepreneurs who subscribed to the magazine, a promotion which was still running on the company’s website up until a few weeks ago. The magazine’s website has also recently been shutdown. Irish Entrepreneur brought the Naked Cowboy to Dublin from New York as a publicity stunt to promote its last issue, which was printed by Polestar in Cholchester in the UK. Its previous issues had been printed by Jomagar Graficas in Madrid, Spain.
Morrissey Media was originally based in Wexford, moved to offices at No 3 Dublin Road, Naas in 2008 but has since relocated to Baggot St in Dublin. The last remaining member of staff was laid off in May.
Irish Entrepreneur’s competitors in the sector are Business & Finance which has an ABC circulation of 15,008 and Business Plus which has a certified circulation of 11,210.
Maree Morrissey and David Bradley in Harley-Davidson Route 66 mode - but is it the end of the road for Irish Entrepreneur magazine?
Maree Morrissey, who regularly features on TV3’s Midday programme offering business advice, was not available for comment despite repeated attempts to contact her. She is not usually this bashful or backward about coming forward. The publisher always had a propensity to stand in the photographs alongside the captains of industry, CEO’s, and leading politicians profiled in her magazine. In the September 2008 issue for instance, with Bill Cullen and Jackie Lavin of The Apprentice fame, once again adorning the cover, Maree Morrissey is pictured no fewer than five times, down from a total of nine in the previous July issue.
Neither is Ms Morrissey slow to give business advice. On RTE’s ‘Young, Irish and Wealthy‘ programme she had these pearls of wisdom to offer:
“Entrepreneurs regardless, will always find opportunities in a downturn. This is our time.”
“Every business in media is sustained by advertising revenue. How the hell are you going to have a business that isn’t going to have any ads?”
“This kinda workin’ round the clock thingy lark, doesn’t work, that’s an Irish mentality thing. ‘Ah Jasus, I work 60 hours a week, I work 80 hours a week.’ I pity people who do that. The smart guys are workin’ in the morning. They’re up at 5 o’ clock, they finish work by two and they’re probably out starting ten new business ventures by half past two and then they’re off and they’re doing they’re thing.”
Morrissey Media has failed to file annual accounts since June 2007.
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February 5th, 2010 at 11:35 am
Great article John! It’s about time that someone brought this sham of a publisher to light! I subscribed to this magazine for €100. I thought the writing was very good and it looked like it was going to be a great find!. That is, until I only received 2 issues for my money! I rang a number of times and it seemed like they had a new receptionist every week. They must have had a high turn over of staff! The Management seemed to never be available to answer my queries! A Joke, just a total joke.
February 5th, 2010 at 12:57 pm
It doesnt look very good and I wouldnt bank on you getting your money back for subscribing to the magazine. There was an article in the Irish Daily Mail a few weeks ago and it reported alot of money owed to high profile people such as Terry Prone. I would say the subscribers will be the last people to see their money.
February 5th, 2010 at 1:27 pm
I’m in the same boat! €100 down the drain! I subscribed to the magazine through the website and I was also told that I was entered into that competition with the prize of €250,000. I was asked some rubbish about coming up with the title for a magazine and then I only received 1 copy of of the magazine! I did think the website was handy (even thatis F@%*ing shut down now!) and I did managed to get in contact with some people interested in possibly doing some business (i’m an designer). There were a lot of people complaining on there website about also not getting their magazines and about the site not being updated EVER!
What I would like to know is, where did all that competition money go? I mean, the details said that they were to give a load of money to charity. I never heard about that happening! I never heard about anyone winning!
I think they should be reported to the powers that be!
February 5th, 2010 at 1:33 pm
Didn’t Bill Cullen own this Magazine? He was in it nearly every issue, shite’in on about how great he is! If you ask my opinion, the editor should be “barney bracked”!
February 5th, 2010 at 1:35 pm
I dont feel like the only one who has been duped into buying a subscription for a magazine and then never recieving it. I wouldnt have minded if someone from the company had got in touch with me to explain the situation, but nobody did. Instead ive tried so many times to call their office on baggot street and either dont get an answer or some story about how the next issue will be out next month, that was 4 months ago and still nothing.
February 5th, 2010 at 1:39 pm
I also subscribed to the competition and was told all the money was going to charity. If you ask me it was a total (comments moderated by site admin), never got any magazines and never heard about anyone winning the competition and worst if the charity never got a single penny
February 5th, 2010 at 1:50 pm
No annual accounts since June 2007? And it sounds like they (comments moderated by site admin) some charity now aswell? They should be looked into for Tax evasion! Look like a couple of right ejits they do with their route 66! That’s another charity isn’t it? I wonder did they (comments moderated by site admin) them too!
If this Maree one was working 80 hour weeks, it certainly wasn’t spent writing! I cancelled my subscription after they failed to send me out 3 issues in a row! Still waiting for my money!
Are they still in operation? Is there anyone they could be reported to?
February 5th, 2010 at 2:02 pm
I doubt any of the business people such as Bill Cullen, John Fitzpatrick, even Bertie Ahern, want to be associated with an outfit that seems very underhand, badly run and possibly breaking the law.
February 5th, 2010 at 2:04 pm
Could you go to the Comsumer complaints?
February 5th, 2010 at 3:07 pm
Bertie involved with something underhand, badly run and possibly breaking the law? Surely not!
Although, this outfit would be stooping low even for him!
Bertie is in an entirely different league of dodgyness!
February 5th, 2010 at 6:05 pm
I used to read this magazine and found most of the articles very interesting, however I did sometimes feel it was a PR platform for the editor to flaunt herself, which didnt make it seem like a very objective publication. Thankfully I didnt subscribe to the mag and only bought occassionaly from the shop.
February 5th, 2010 at 6:17 pm
I remember this magazine, it was a nice glossy and very much where celebrity/business/fashionable people were profiled. It also had a lot of aricles offering advice and listing investment opportunities. It seems ironic that they didnt take their own advice
February 5th, 2010 at 6:22 pm
Does anybody else think this is an exact rip off of Vanity Fair magazine? They say being copied is the highest form of flattery but im sure Vanity Fair wouldnt see it that way, surely they have copywrite on their design?
February 5th, 2010 at 6:28 pm
MM, you actually found some articles that offered advice? I’d have to look very hard to find anything helpful in all their dross! Maybe my standards were too high!
February 5th, 2010 at 6:29 pm
I’m not surprised if it was copied from another magazine! It’s not like their had anything else original to contribute. As Noel said, this was mostly a PR Platform for the editor to promote herself
February 5th, 2010 at 6:29 pm
Vanity Fair? Their writers were nowhere near as good as that! This magazine was pure amateur! I flicked thorough it once or twice in the news agents and I got the free edition in the paper that time but I wouldn’t pay for it! John, you really worked for these cowboys? Say it aint so!
February 19th, 2010 at 2:42 pm
Hi Guys, has anyone heard any more on this set-up? Any chance they could be making a come back?
February 19th, 2010 at 5:10 pm
God I hope not! I believe they are still in existince but not at an operating capacity. I heard that at least one ex member of staff is has an ongoing (comments moderated by site admin) them. Probably more. How could anyone have any faith in this sham of a magazine and a (comments moderated by site admin) of an Editor/Director!
May they go down and never rise again!
February 19th, 2010 at 6:58 pm
I had the misfortune of working for them and I have to say I’m surprised more isn’t being written about them in the mainstream media and that more employment rights cases aren’t coming to the fore. Well done John bringing this to peoples attention. I know first hand the working conditon’s were deplorable, the management were a joke and treated their staff like slaves. Its ironic that the magazine was perceived as a high end glossy but when in fact behind the scenes staff were working for days without sleep or proper breaks and were getting no thanks or extra pay for their trouble. Bills weren’t being paid, accounts weren’t being filed… the list goes on. I think we can be confident that there will be no come back. they have lost all their readers, advertisers and the respect of the whole business community. if there is one good thing to come out of this recession it is that (comments moderated by site admin) like these have been weeded out, people like this should never be allowed to set up in business ever again.
March 3rd, 2010 at 12:22 pm
I disagree with all comments above. I think the magazine has done very positive things for Irish business.
March 9th, 2010 at 3:39 pm
Great article John. Just about sums it all up really!
March 13th, 2010 at 11:49 pm
I read a few of the magazines . I think the idea was good but it was very superficial and perhaps was trying to promote a celebrity entrepreneur culture.
There was not a lot of nuts and bolts in this , more soft focus photo ops and cow towing to a particular set. When compamies had cash to burn and owners had massive egos to fuel , this magazine was a great outlet for them .
That day is gone. No harm either !
March 25th, 2010 at 3:34 pm
I’m a freelance journalist/editor-type and sent an email to Maree looking for work. She seemed keen and enquired whether I could do interview-based articles. Does this mean the title is still alive?