6 October 2017

News

Medium sized businesses - uncovering their hidden value and further potential in Northern Ireland

More than 50 senior executives attended 2017 CBI Northern Ireland MSB Conference to discuss the key opportunities and challenges affecting their businesses.

Medium sized businesses - uncovering their hidden value and further potential in Northern Ireland

There are just over 550 medium sized businesses across Northern Ireland with a turnover of £10-£100 million.  These companies do not just make a huge contribution to tax revenues and employment, they represent the very foundations of our future economy as they scale up and bring their successful business models to the global market.  

Today’s annual CBI MSB Summit, held at Slieve Donard Resort & Spa in County Down, brings together business leaders from medium sized companies across Northern Ireland to analyze already successful strategies, share best practice and consider growth opportunities.  The unique 24-hour event brings together more than 50 mid-sized companies from all sectors, to gain insight and engage in both economic and business strategy debates.

Sponsored by BDO and Bank of Ireland UK and facilitated by Broadcaster Naomi McMullan, the packed schedule included world-renowned facilitator David Meade and keynote speakers from Bank of Ireland UK, Invest Northern Ireland, AJ Power, Almac Group, Telestack, Norbrook, Denroy Group and Sensum; and insights from many more MSBs during the discussion sessions.

Commenting on another successful conference, Angela McGowan Regional Director CBI NI said: 

“It is great to see that medium-sized business across Northern Ireland have ambitious plans for creating new products and expanding their services into new markets.  It is important that we as a business community take time out to reflect on what has made these local companies successful in the first place and share ideas on how we both protect and expand local companies in our rapidly changing economic environment”.

Brian Murphy, Managing Partner, BDO, commented:

“I am delighted to have been a part of CBI’s MSB conference for a second year, both as a sponsoring organisation and as a delegate. At BDO Northern Ireland we recognise family owned and medium sized businesses are the backbone of the NI economy; driving growth; encouraging innovation; and creating jobs.

“For me, the conference provided an opportunity to engage, network and learn from others who have similar growth aspirations and I was encouraged at how honest and candid each of the speakers were about their experiences. I also found that discussions around innovation, internationalising the business and overcoming challenges within our local economy were consistent with recent findings of BDO’s Future of Family Business survey – the focus of the final CBI MSB-Club roundtable of 2017 supported by BDO in November.

“The sessions covered over the last 24 hours have allowed companies to tap into some of the very best commercial and practical knowhow that NI business has to offer. These insights, along with the passion and determination of the attendees shows that we have a very strong foundation for the continued success of business in Northern Ireland.”

Mark Cunningham, Regional Business Development Manager, Business Banking at Bank of Ireland, commented:

“Future competitiveness of Northern Ireland business will rely on individuals, companies and sectors which create and commercialise services, products and technologies to export around the world.

“The Bank of Ireland UK sponsored Knowledge Economy (KE) Report 2016 demonstrates the positive contribution which is made by NI (KE) companies with over 80% of their £5bn sales generated outside of Northern Ireland. We are encouraged to see an increased demand for funding and practical supports for KE and mainstream MSB’s with ambitions to grow.

“This is why we continue to partner, develop and deliver a suite of initiatives such as this MSB conference, focusing on exporting, scaling for growth and innovation.”