Daily Mirror (Northern Ireland)
Growth at last is just the business
The Northern Ireland economy continues to show signs of growth with both the manufacturing and services sectors recording positive balances in sales and jobs over the past three months.
Northern Ireland does however remain one of the weakest performing UK regions overall – with manufacturing investment intentions weakest across the 12 UK regions and both manufacturing and services sectors facing a precarious cash flow position.
The findings form part of the latest Quarterly Economic Survey (QES) published by Northern Ireland Chamber of Commerce and Industry in association with business advisors BDO.
Meanwhile, political instability remains a key concern for businesses here with frustration at the lack of a functioning Executive, whilst a growing share of businesses are putting growth and investment plans on hold as a result Mccue
Crafted Fit has been recommissioned the as fit-out contractor for at new Acute Services Block Belfast. the Ulster Hospital in
The firm has been subcontracted by Graham BAM Construction to provide bespoke interiors. of Brexit. Against this background almost half of businesses expect the NI economy to contract in 2018 with 33% forecasting it to grow.
Businesses are more optimistic about their own prospects for the year ahead with 64% expecting their firm to expand. Chief Executive of NI Chamber, Ann Mcgregor, said: “Despite pockets of resilience and success, and strong results for some firms, the bigger picture is one of slow economic growth amid uncertain trading conditions.
“Continued uncertainty over Brexit and the burden of upfront cost pressures facing businesses is likely to stifle business investment and put pressure on prices in an already challenging inflationary environment.”
Brian Murphy, Managing Partner at BDO Northern Ireland, added: “The continued growth of the manufacturing and services sector is reassuring and should give comfort to those who remain apprehensive about the future.
“That nearly two-thirds (64%) of local businesses expect their firms to expand over the coming year is both welcome and encouraging. That is not to ignore the concerns that some may have.
“Without doubt, the challenges we in Northern Ireland face in respect of the uncertainty surrounding Brexit and the continued absence of a functioning Executive are many.
“However, this survey provides demonstrable proof that our local entrepreneurs are creative and resilient.” ULSTER University Business School is to start its refreshed, reframed and refocused one-year Developing Managers programme in March.
This aims to deliver the learning and development of managers for Northern Ireland’s future businesses.
Successful applicants will participate in a unique range of hands-on practical workshop sessions and interactive study visits provided by academic and business experts to cultivate emerging leaders in business.
The accredited Developing Managers Programme welcomes the pioneering of the successful integrated business and arts workshop Messy Managers, which has been designed by Ulster University Business School and the social enterprise Boom Studios, Bangor, to support the development of innovation, leadership and management capabilities in learners. CASTLEDAWSON based specialist Moyola Precision Engineering aims to create 50 new jobs as part of a £10million investment.
The firm will expand its capabilities as it aims for a place among the top level firms in the sector with £1million in backing from Invest NI for building work, new equipment and ICT.