12 May 2014
BANK OF IRELAND UK SURVEY OF SMEs IN NORTHERN IRELAND REVEALS GROWING BUSINESS CONFIDENCE – 86% OF BUSINESSES SURVEYED NOW EITHER GROWING OR STABLE
Some 86% per cent of small and medium sized companies in Northern Ireland describe themselves either as growing or stable, according to a survey undertaken by Bank of Ireland UK to launch its Enterprise Week which runs from May 16 to 23.
During the Bank’s Enterprise Week hundreds of local companies and agri-businesses will promote their business by showcasing their products and services in branches across Northern Ireland. Under the theme of Enabling Enterprise, the Bank will host more than 20 networking events, seminars and clinics with business leaders and experts across the region.
The Bank of Ireland UK survey carried out by Ipsos MRBI covered SMEs in Northern Ireland and other key findings were:
- 68% of SMEs surveyed are optimistic about growth in the second half of 2014
- 63% of SMEs are more confident about the situation facing their business over the next 12 months compared to the past 12 months
- More than half (53%) think employment levels and the Northern Ireland economy in general are set to improve in the year ahead
- Nearly a quarter of SMEs (24%) expect to recruit new staff in the coming year
- Asked about the biggest opportunities in the year ahead, more than a fifth of SMEs (21%) cited increased demand from customers while 12% cited economic growth
- Nearly a third of the SMEs said they had exported in the last 12 months and a further 9% saw expansion into new markets as a further opportunity for their business
Ian Sheppard, Head of Business & Corporate Banking Northern Ireland, Bank of Ireland UK, said: “Confidence, ambition and growth are the overwhelming findings in this survey of local businesses – and our Enterprise Week is designed to support and encourage businesses to grow.
“Expectations about growth are being reflected in the increased demand for lending that we are seeing from all sectors of the economy. Our ambition this year is to exceed the £500m lending approvals that we made in 2013 and as a local bank with local expertise we’re well placed to achieve that.
“It is interesting that companies are seeking every opportunity to grow, including expansion into new export markets. Bank of Ireland UK is committed to playing its part in building this positive sentiment in the local market place. We are delighted to be partnering the Northern Ireland Chamber of Commerce through their Connecting for Growth programme, an initiative which encourages cross border trade and offers expertise through our specialist Global Markets team.”
Asked in the survey how banks could play a role in enabling enterprise in Northern Ireland, the top 5 responses were: providing business start-up packages, promotion of business products and services in branch, access to networking events, insight into local economies and the provision of credit.
Ian Sheppard added: “These findings correspond with the demand we are seeing from new and existing small businesses. We opened over 3,300 new small business accounts in the year to January 2014, more than a fifth of those were for completely new ventures.
“We’re enabling enterprise across Northern Ireland by providing credit to support working capital and business growth. By engaging widely with the business community, we’re ensuring that the finance, expertise and support initiatives we provide are both relevant and practical for local SMES.”
Techncial note: Ipsos MRBI interviewed senior decision makers in 75 businesses in Northern Ireland. Interviews were carried out by telephone between 14th and 25th April 2014. The results have been weighted to reflect the known distribution of businesses in Northern Ireland.
Ends
Media contact
Catherine Agnew at Smarts Communicate Tel: 028 9039 5500 Mobile 07779101360 or emailCatherine.agnew@smartscommunicate.com
Sharon McDonnell, UK Media Relations Manager, Bank of Ireland Tel: 00353 76 623 4784 Mobile: 00 353 87 2269324 or email sharon.mcdonnell@boi.com
Notes to editors
Highlights from Bank of Ireland UK’s Enterprise Week event calendar:
Flagship event breakfast seminar
- Connecting for Growth , Ramada Plaza, Belfast Wednesday 21st May 08.30 – 12.30 – keynote speaker will be Jorge Lopes, Country Director NI, Diageowho will speak about creating the ultimate customer experience and the lessons small businesses can learn from a world class operation like Diageo.
Seminars and clinics – highlights
Derry Seminar
- Enabling Enterprise Seminar, University of Ulster, Friday 23rd May 11:30am – 14:30pm – guest speaker will be Norman Apsley, Northern Ireland Science Park Foundation CEO. Norman will be talking about the new NISP centre opening in Derry City and offering advice and support to tech start-up businesses across the region. Alan Bridle Bank of Ireland UK Economist & Market Analyst will be providing information and analysis on the state of the NI economy.
BCB Belfast Seminar
- Meet the Experts, The Balmoral, Thursday 15th May 12:00am – 14:00pm – Business Banking, Commercial Finance and Global Markets experts will provide support and advice on the services offered by BOI while Moore Stevens will also participate as an expert on work based pensions
Belfast Customer Visit (Munster Simms)
- Exporting and Customer Testimonial, Munster Simms Lisburn, Friday 23rd May 10:30am – 14:00pm – event will provide a tour of the new Munster Simms premises, helped funded by BOIUK.
South Belfast
- Enabling Enterprise, Malone Lodge, Tuesday 20th May 11:00am – 14:00pm – biggest event outside flagship this Belfast Seminar will host Simon Hamilton, NI Finance Minister who will be giving a speech and Colin Williams of Sixteen South. Alan Bridle, BOI UK Economist & Market Analyst will also provide an economic update and analysis on the state of the NI economy.
Lisburn Business Breakfast
- Enabling Enterprise & Access to Finance, Café Vic Ryn, Thursday 22nd May 8:00am – 10:00am – Bill Scott, Executive Director Regional Business Invest NI, Dr Simon Grattan Horizon 2020 Manager from the Department of Enterprise, Trade & Investment & Hazel King Economic Development Manager, Lisburn City Council, will be the speakers at the event. There also will be opportunities for attendees to meet with the experts at the end of the event.
Belfast Accenture Training
- Business Skills, Belfast City Branch Wednesday 28th May 9:00am – 17:00am – Accenture will facilitate two FREE full day training sessions on business skills including negotiation skills and Influencing Skills.