Ulster Business - April 2016 by Ulster Business

APRIL 2016 Price £2.30 (€3.75)

Partner for growth How PwC’s tax team is helping Northern Ireland’s best companies thrive

The Next 200: The medium-sized firms making up the engine room of the economy

Subconscious Messages: What does Northern Ireland’s brand really say?

ISSN 1363-2507

9 771363 250005

Contents 6 News

50 Viscount Awards

76 Motoring

A roundup of all the biggest stories in the Northern Ireland economy

The finalists for the most hotly anticipated business awards of the year are revealed

You can keep your Clarkson, May and Hammond. We’ve got Burns

14 Cover Story

52 Start-ups

82 Appointments

PwC explains why it pays to have a helping hand to drive your company forward

So you want to start your own company? We have top tips for success

Who’s moved where, why have they moved and who’s taken their place?

24 Next 200

62 Branding & Marketing

90 Events

The companies which make up the engine room of the economy are revealed

Is Northern Ireland doing enough to make sure our brand is strong and true?

You were out and about this month and we have photographic evidence

36 Enterprise NI

74 Business Breakfast

92 Gadgets

The best of the best innovators reveal how it should be done

This month it’s Quay Cargo’s Gary Stewart in the breakfast chair

Is it a bird? Is it a plane? No, it’s another of Adam Maguire’s odd-looking new gadgets

14 36

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EDITOR’S COMMENT

Brexit should take economic precedence

elcome to the April edition of Ulster Business, one which comes at an exciting and extremely interesting time for Northern Ireland. Not only is the local economy continuing to defy convention and show steady signs of growth amid a turbulent global marketplace, the local elections are bearing down on us at a rate of knots and the debate around the UK’s membership of the European Union heating up. For some, the elections at Stormont – which chronologically come first – are going to be front and centre for the next few months but in terms of importance for the economy here, the Brexit debate should overshadow everything. Assembly elections come around every five years but the question of whether we remain in or leave the European Union isn’t one we’re likely to have the chance to answer for a very long time. Obviously we need to make sure we vote the best possible candidates into position in May, ones who

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APRIL 2016

can continue to drive the economy and can lead with authority, with enterprise and with humility. But it is even more crucial we make the right decision on the EU Referendum in June. To do that we need to drill down through the hubris which is currently being bandied about and equip ourselves with the facts, or at least the best estimates possible, so we can make an informed, pragmatic decision. For now we’re focusing on the engine room of the Northern Ireland economy with our Next 200 list, a breakdown of the companies which just fall outside our annual Top 100 list. Many of them are recognisable local names which contribute hugely to the Northern Ireland economy through their enterprise, drive and innovation. It’s these companies which our next government needs to be nurturing in the years ahead – whether we remain in Europe or not – because they are the lifeblood of the economy. David Elliott

Editor David Elliott

Art Editor Stuart Gray

Manager Sonia Armstrong

Production Manager Stuart Gray

Deputy Manager Sylvie Brando

Cover Photography PressEye

Sales Executive Susan Simpson

Free to download. Free to read. ulsterbusiness/app 5

NEWS

The Big Numbers 856,245 The number of residential rateable properties in Northern Ireland spread across 11 council areas.

Brexit debate heats up: Danske Bank survey reveals stay majority

£1.17bn The amount of money raised in rates for the 2014-2015 period, according to Land and Property Services. It’s apparently “vital for our local economy, as it is invested in public services such as healthcare, education and roads” although the many pothole spotters may beg to differ.

Angela McGowan

1.0% The percentage which agriculture contributes to Gross Value Added in Northern Ireland, according to the Department of Agriculture.

he majority of people in Northern Ireland want the UK to remain a member of the European Union (EU), although more than quarter of the population are still undecided, according to a survey by Danske Bank.

The percentage which agriculture contributes to Gross Value Added UK-wide.

It found 56% want to remain in the EU, 18% want to leave and 26% are still undecided. The “mood” has altered by 2% toward the Leave campaign since the bank’s last survey on the subject in June 2015.

1.6%

Danske Bank Chief Economist Angela McGowan said gender, socio-economic standing and employment status seems to have an influence on the mood toward Brexit.

0.6%

The percentage which agriculture contributes to Gross Value Added in the EU.

40.1 The average size in hectares of a farm in Northern Ireland.

77.6 The average size in hectares of a farm across the UK.

“Support for staying in Europe is by far the majority view although the leave campaigners have made a little ground over the last year,” she said. “Typically we have found that middle-class households, men and full-time workers remain most eager for remaining in the EU. “However, older people, those on low income households and people living in the north of Northern Ireland are more likely to support a Brexit.” The survey of 1,000 people about their views on a potential Brexit was carried out by

market research and evaluation consultancy Millward Brown in March as part of the company’s regular Omnibus Survey. The debate around the EU membership has been heating up as the referendum approaches and business bodies are throwing their research into the subject. The CBI released a report last month which showed that membership of the European Union cost each member of the Northern Ireland population £111 a year each, while we get back £1,225 when it comes to trade, investment and lower prices. The Institute of Directors, meanwhile, said three-quarters of its members, who took part in a recent Brexit survey, want the UK to stay in the European Union, but a large number want more information and less rhetoric about the referendum issues. Ian Sheppard, Chairman of the IoD NI’s Economic Strategy Committee said: “While we will not be adopting a campaigning position as an organisation ahead of the referendum, the IoD is committed to informing the Brexit debate to encourage businesses to take up the discussion internally, weigh up all considerations and arguments and to assess if, and how, Brexit could impact upon them,” Mr Sheppard said.

NEWS

Belfast hotels see rise in occupancy levels

elfast’s hoteliers have witnessed the sharpest increase in occupancy rates of all UK cities over the last year, according to new research.

The occupancy level – which measures the number of occupied rooms of all those available in the city – jumped to 85% in 2015 compared to just 81% in the previous 12 months. Commercial estate agents Colliers’ UK Hotels Market Index showed the city is well ahead of London – which was the only city to record a decline in occupancy levels – Bath, Manchester and Glasgow. And Belfast also ranked highly when it came to the number of new hotel rooms in the pipeline.

That’s as a result of lower room rates which take the shine of the city’s attractiveness as an investment for buyers.

Of the total stock, 21.1% is new supply entering the market, a figure only bettered by Hull at 22.7% and Cambridge at 29.4%.

Still Jonathan Millar from Colliers International in Belfast said the investors are showing interest as others like London lose their lustre.

However, for all Belfast’s glory in occupancy new supply, it ranks a lowly 31 out of all 36 cities in the report considered a “hot spot” for hotel development and acquisition, with only Bradford and Hull in a lower position.

“High land prices in London are causing investors to look outside of the Capital for opportunities to spend their cash. As such, we are increasingly being asked by our hotel investor and operator clients which UK regional cities offer the best development opportunities.”

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APRIL 2016

NEWS

Quotes of the month

From bin to wing: how your rubbish could soon be powering Bombardier

“Not a single person had the opportunity to vote before the UK joined the European Union in 1973.” Northern Ireland-born Labour MP Kate Hoey opens her debate on the Brexit in Belfast, organised by Quadriga Consulting, with a look back at history.

“I think the UK has been enhanced and improved by being a part of the EU. There have already been strong signals from the business community and highprofile company leaders that the UK, and in particular Northern Ireland, is better off in the EU.” Vernon Coaker, Shadow Secretary of State for Northern Ireland, says business are behind the EU.

“Northern Ireland’s infrastructure is aging and in need of significant upgrading. To enable the necessary investment to happen, we are calling for, amongst other things, an introduction of domestic water charging and case-specific use of Public Private Partnerships.” Ben Collins, RICS Director for Northern Ireland, says there is an urgent need for an upgrade to infrastructure here.

“The Northern Whig has been one of our anchor properties for many years, and following a period of leasing the venue from its previous landlords, we’re delighted to have finally purchased the Whig.” Stephen Magorrian, Managing Director of the Horatio Group, takes over the pub named after one of Northern Ireland’s now defunct daily newspapers.

First Minister Arlene Foster and Junior Minister Jennifer McCann pictured during a site visit with Nick Parker, Chief Operating officer, Equitix; Shaun Kingsbury, Chief Executive, UK Green Investment Bank; Brett Ross, Managing Director, RiverRidge Recycling and Mark White, Partner, P3P Partners.

ubbish from Belfast households will soon be put to use helping one of Northern Ireland’s biggest manufacturers make aeroplane wings.

and RiverRidge Energy, Mr Brett Ross, said the start of construction marks a major milestone in the timeline of Northern Ireland’s energy and waste management sectors.

Full Circle Generation’s new energy-fromwaste facility in Belfast Harbour Estate will turn up to 180,000 tonnes of so-called feedstock from surrounding households and turn it into electricity which will be used to power the neighbouring wing manufacturing plant owned by Bombardier.

“The construction of the Full Circle Generation Waste-to-Energy facility will allow the industry to gain access to a piece of crucial infrastructure which until now had required waste management operators to export waste derived fuels and consequently energy to other territories.”

It will create 250 jobs during the construction phase which carries on through to 2017 and an additional 20 permanent jobs once up and running.

Full Circle Generation Limited is made up of a consortium of equity investors which includes RiverRidge Energy Limited, GIB, Equitix and P3P Partners.

In addition, it will reduce the amount of waste which goes to landfill here drastically – helping councils meet strict targets which need to be met by 2020 – while also providing a reliable form of energy for one of the biggest manufacturing companies on these shores.

The French construction group Bouygues Energies and Services has been appointed by Full Circle Generation and is responsible for the design, build and operation of the facility which incorporates the use of gasification technology.

Full Circle Generation Director and Managing Director of RiverRidge Recycling

“Today sees a landmark stage for the waste management sector as this large scale Energy from Waste Facility takes shape,” Brett Ross said.

NEWS

On your marks for charity Runway Run

ollowing the success of 2015’s inaugural Grant Thornton Runway Run in Northern Ireland, the business advisory firm has announced the return of the event for 2016. 500 runners from local businesses across Northern Ireland are invited to take to the runway of George Best Belfast City Airport for a 5k team race at 11pm on Thursday 23rd June. Grant Thornton has selected The Mary Peters Trust as its charity partner for the 2016 Runway Run and the race will be started by Dame Mary Peters herself (centre) who is pictured with Grant Thornton (NI) LLP Managing Partner Richard Gillan (second from left) and Partners (l-r) Louise Kelly, Peter Legge and Neal Taylor. To register your team of four please visit: www.athleticsni.org/Events

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NEWS

Bullish mood from consumers as new car regs rise

Lagan Homes to build 550 houses in Bangor

Richard Ramsey

he number of Northern Ireland drivers being handed the keys to a new car has continued to grow since the start of the year, according to new industry data. A total of 18,807 new motors have been registered here in the first three months, nearly a 3% jump on the same time last year and a solid sign that consumers are feeling in a better mood. Sales of big ticket items such as cars are used as a good indicator of how confident consumers are about their future finances so the steady recovery has buoyed the economic outlook and given a boost to car dealers. Ulster Bank Chief Economist for Northern Ireland Richard Ramsey said a drop in the cost of other factors has helped. “Households have been benefiting from falling food and petrol prices, wage rises, and low interest rates, and this at last seems to be feeding through into Northern Ireland’s new car sales figures,” he said. “During 2015, car sales were disappointing and remained at odds with the wider recovery in the economy. However, the almost inevitable recovery now seems to be in train.” How long that recovery lasts is another thing, with a number of volatile factors at play. “With fuel prices starting to edge back upwards, and no shortage of political and economic uncertainty, this could act to dampen consumer sentiment.”

Anne McSorley Senior Manager, First Trust Bank; Conor Mulligan, Managing Director of Lagan Homes (NI) Ltd; Azem Hanif, Head of Specialist Business at Danske Bank.

ne of Northern Ireland’s biggest developers is to build 550 new houses in Bangor in a further sign of rejuvenation in the construction market. Lagan Homes is investing £90m in the project at two sites in the County Down town and has been backed by both Dankse Bank and First Trust. Construction of 200 houses has already started at the first site at Lynn Hall Park next to the Rathgael Road while the firm is waiting for full planning permission for the second tranche of 350 houses at Helen’s Wood. It expects to create 100 jobs during the construction process over the next 10 years. Conor Mulligan, Managing Director of Lagan Homes (NI) Ltd, said a boost to demand for the “family” homes which the company is building has helped underpin the investment. “The demand for quality affordable homes in Northern Ireland is high and we can see growing confidence in a more buoyant housing market,” he said. “These newlyacquired residential sites represent a return to spacious detached, semi-detached houses and townhouses designed for family

living, and as a result, we are reducing the density on these two sites from the approved 1,200 (predominantly apartments) to 550 traditional family homes.” And the funders said they were excited by the project. “The investment in developing these two sites is being made at a time when the economy is in a sustained period of recovery and when demand for family homes is increasing,” Azem Hanif, Head of Specialist Business at Danske Bank said. “At Danske Bank we can see that improvement in consumer confidence is having a positive effect on the housing market, whether for first time buyers or people moving house.” Anne McSorley, Senior Manager at First Trust Bank, said the construction sector has received a boost from the news. “In addition to providing much needed affordable family homes, the investment also represents a significant boost to the local construction sector and job creation,” she said. “Our involvement on this exciting project with Lagan Homes, and this important sector, is further evidence of First Trust Bank’s commitment to supporting growth in the local economy and local communities.”

INSIGHT

Manufacturing sector primed for boost

Reasons to introduce employee benefits By Colin Wells, Employee Benefits Consultant

hilst offering a competitive salary will always remain a key part of any recruitment package, does your company offer other employee benefits such as Private Medical Insurance, Life Assurance and Income Protection? Here are some reasons why you should:

Increase Your Companies Appeal Employee Benefits are now becoming as important in attracting skilled staff as a competitive salary and bonus structure. Don’t lose out on the staff your company needs. Neil McCullough, (left) of Oxford Economics and Richard Gray, (right) of Carson McDowell Solicitors join Manufacturing NI Chairman Con O’Neill to launch the Oxford Economics report into the manufacturing sector.

he next Executive has the chance to revitalise Northern Ireland manufacturing by focusing on making energy prices and rates more competitive and setting out a clear roadmap for the sector. That is the conclusion of a new report commissioned by industry body Manufacturing Northern Ireland (MNI) which revealed that manufacturing accounts for one in four jobs here, two thirds of all exports and is nearly 40% more productive per capita than other industries. It said that the sector accounts for just 14% of gross domestic product here – far behind the Republic where the manufacturing represents 23% of the economy – but that could be raised to 20% with the help of the Executive, according to MNI chief executive Stephen Kelly. “Despite recent high profile problems, this report highlights the historic opportunity which the next Executive has to help create renewed economic prosperity,” he said. “We believe that it’s possible and necessary for the Executive to work with the manufacturing sector to increase its contribution to 20% of GDP, narrowing the gap between north and south of the border.

Minimise Staff Turnover AND ReducE Recruitment and Training Costs By investing in your employees and offering benefits equal to or greater that your competitors, you can ensure you retain the staff you have already invested time and money in with regards to recruitment and training.

Better Morale Showing your employees that you care about their health and wellbeing is an effective way to increase morale and loyalty.

Healthier Employees Will Reduce Absenteeism Assuming you offer some type of health/dental plan and sick leave, your workforce should be in relatively good health. If your employees have medical insurance and health cash plans in place, there is a better likelihood that they will have regular check-ups and take preventative medical steps, which should help in ensuring you have a healthy workplace with reduced absenteeism.

Better Job Performance Employee Benefits show your staff that you care about their wellbeing and this instils loyalty and pride in their work. As a result, they should be willing to work harder, which can lead to greater productivity and higher quality work. Willis Wealth Management can review your benefits to make sure you are getting the most competitive price for the benefits that best suit your company’s needs. Contact us for a bespoke quote.

“The next Executive can create the conditions which will see this target met and transform communities across Northern Ireland. It can lead a re-industrialisation of our economy”. The report said that with government help the sector can benefit from growth in the global economy and can expand faster than the rest of the UK.

APRIL 2016

Visit www.willisinsurance.co.uk/employeebenefits to find out how we can improve your business, call Colin on 028 9032 9042 or email: colinw@williswealthmanagement.co.uk

ANALYSIS

Why outplacement is an investment rather than a cost Glenda Nelson, Regional Manager of Lee Hecht Harrison (LHH) Northern Ireland, explains why effective outplacement can be so important

esearch has shown that being made redundant at work is one of the most stressful life experiences a person can face.

out of the factory gates for the final time – and, if the right steps are taken, they could have new employment secured by the time that happens.

any future working environment is the ‘right fit’ for candidates and is something that should be done to offer the best opportunities for the individual concerned.

Unfortunately, there have been far too many people in Northern Ireland recently who can no doubt testify to that.

A well-planned and effectively executed outplacement programme can be the ideal launch pad for those being made redundant beginning their search for a new job.

While the many benefits of outplacement for employees being made redundant are obvious, it’s also very much in an employer’s best interests to be in a position to offer outplacement services when required.

The manufacturing sector has become synonymous with redundancies, primarily due to announcements in the last 18 months of large-scale job losses at longstanding operations such as JTI Gallaher, Michelin and Bombardier, amongst others. It’s important for business owners and managers to exercise sensitivity when discussing the plight of individuals who receive such news, but the question of what they do next is a hugely important one – and one which they should think very seriously about. There are avenues to be explored which can almost immediately begin to open doors to potential new employment. It may seem an obvious point to make, but adopting the right mindset is crucial. While the instinctive reaction may be for someone to think that they have to start preparing for being unemployed, in our experience that’s very much the wrong approach to take. Instead of preparing for being unemployed, those being made redundant should waste no time in preparing to find new employment. The majority of workers at the three manufacturing giants already mentioned are not unemployed until they walk

Research carried out by Lee Hecht Harrison globally revealed that people who undertake an outplacement programme get back to work more than twice as fast as those who go it alone. Indeed, 75% of those candidates get comparable or better jobs than they had before. Responsible employers in today’s market, whether in manufacturing or any other sector, should offer outplacement support to staff being made redundant – and staff would be foolish not to avail of the opportunities the process can provide. An effective outplacement programme is about applying a strategy to the next move, prioritising tactics and developing key skills to achieve career goals. Outplacement support allows people to leverage the most effective tools, technology and techniques to help find jobs that may not be obvious, create a CV that isn’t sifted out (often by software), develop social media profiles that capture the attention of hiring managers and recruiters, and advise on how to deliver interview performances which are more likely to lead to job offers. Taking consideration of people’s personal life and social interests, as well as their professional capabilities, will help ensure

Not only is it HR best practice to do so, but an employer taking its duty of care to its staff seriously and providing as much assistance as possible can go a long way in protecting the company’s brand and reputation in the community. Therefore, outplacement should be considered an investment rather than a cost. Large employers such as JTI Gallaher, Michelin and Bombardier also have to bear in mind the fact that the staff facing redundancy still very much have a job to do – a factory’s output is best maintained by staff who feel their employer is managing the redundancy process as considerately as possible. It’s an area in which the Northern Ireland business community is still playing catchup, with multinational firms perhaps leading the way. However, it’s important to remember that outplacement programmes are flexible and can be tailored to suit SMEs just as effectively as large corporates. It’s something which neither employers nor employees will ever want to avail of but, given the mutual benefits for each, it’s definitely something which should be more commonplace in the local economy.

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The PwC Senior Tax Team (left to right): Martin Fleetwood, Paddy Wallace, Clare Coyle, Janette Jones, Alan Gourley, Alan Martin and Craig Harrison.

Ready, steady, grow Constantly assessing whether your business is fit for purpose and protected from tax risks is the key to long-term commercial success. Janette Jones, Partner and Head of the Northern Ireland tax practice at PwC, explains how to minimise the risk of surprise tax liabilities

n the past 12 months we’ve seen signs of recovery in the form of improved business confidence and greater commercial activity in Northern Ireland, mostly by our indigenous privatelyowned business sector. The recovering economy, together with the ability to deal with legacy distressed debt, means that many businesses are now seeing the return of value and are planning for the

future with a confidence that has not been felt for a number of years. But, it is also clear that lessons have been learnt and whilst businesses are clearly focused on growth, this is often tempered by a more considered and risk aware approach to planning. For PwC, the recent recovery has seen unprecedented interest from business owners who are concerned their current structure may not be ‘fit for purpose’.

This could be because of inherent commercial or tax risk or because the structure is not flexible enough to facilitate succession planning. Whatever the driver, restructuring a business is often more complex than it appears and there are numerous bear traps for the unwary. Our PwC tax team has worked with many local businesses to ensure their restructure doesn’t inadvertently create tax problems for either the business or its owners.

COVER STORY

structure can be relatively small but incredibly valuable. For example creating a holding company to take ownership of valuable assets, such as business premises or intellectual property is increasingly used by private business owners to protect valuable assets from business risk.

Keeping it confidential Many private business owners are very concerned about disclosure especially where they are competitively tendering for work or supplying into large national or multinational businesses. The filing of statutory accounts allows competitors and customers visibility over the performance of the business and can influence pricing decisions. It is possible to structure a business to manage disclosure, allowing companies to comply with statutory filing requirements but still retaining an element of privacy. Many local businesses have taken advantage of this type of structuring obtaining advance clearance from HMRC in the process.

Getting back onto the acquisition trail

Is your business structure fit for purpose? One of the main hangovers from the boom and bust years, is that business owners were, and still are, locked into business structures that leave too much value exposed to unnecessary commercial risk. Often in a diversified company, or group of companies, there will be businesses on different growth trajectories, possibly with different capital requirements and value realisation plans. Quite often it makes good sense to separate, or disaggregate these businesses or their assets into separate entities. When doing this, it also offers an opportunity to introduce new family members creating an effective way to facilitate family succession. But, if you’re going to separate businesses in this way getting good professional advice is essential as many pitfalls can trip the unwary. An experienced tax advisor will understand what you want to achieve and will work with you to ensure it is carried out in a way that is acceptable to HMRC.

Protect what you have Sometimes, the change to the business

APRIL 2016

Buy, buy, buy and buy as quickly as possible – that was the approach during the boom years. Typically little, if any, thought was given to the how the acquisition should be made, who should own it and should it be ring-fenced from other assets/businesses. Indeed, had more consideration been given to these questions, many would have found the last few years easier to navigate and more businesses may even have survived the storm. So, it’s not surprising that we’re now seeing a more considered approach to acquisition and disposal activity – a focus on risk mitigation, putting fire-walls in place and carving-out the target business post-acquisition. Thinking of these things upfront rather than after the acquisition reduces the need for post-acquisition restructuring which takes up valuable management time, increases professional fees and can create tax problems.

Look out for the bear-traps Business Property Relief (BPR), is a very generous tax relief that can mean businesses are exempt from Inheritance Tax. Without BPR it would be very difficult for privately owned businesses to pass down to

succeeding generations. The Inheritance Tax cost of this would force many businesses to be sold, simply to pay the tax. What is much less commonly understood are the bear-traps that frequently mean the benefit of BPR is either lost completely, or massively reduced. Many of these unfortunately result from seemingly normal, everyday business activities and transactions. What often makes commercial sense can create a significant tax liability either immediately or in the future. For example, if you want to partner with someone in a business venture, creating a joint venture company seems logical. Your shares in the new company will be owned by your existing business – perhaps because it’s providing some of the initial capital. Unfortunately this type of joint venture structure can put the BPR you have on your current business at risk as HMRC can view 50% interests as investments rather than trading assets. Alternatively, if the owner of one business needs to provide funding to another of his or her businesses and does that by way of a loan, that loan can lead to a BPR restriction, and therefore an IHT exposure on the value of the business that has made the loan. There are of course solutions to these challenges however, finding the solution requires business owners to identify the problem in the first place, something they too often fail to do. When it comes to tax, what seems reasonable may be anything but prudent so, any transaction should be run past your tax advisor in the first instance.

Restructuring for NI Corporation Tax The much anticipated and hard fought for 12.5% NI corporation tax rate is due to take effect on 1 April 2018. Many businesses are now considering how this will affect them and whether their corporate structure needs to be amended to ensure the company is best placed to take advantage of the new rate. Few Northern Ireland businesses are structured for the NI Corporation Tax Regime. The rules are complex and >

COVER STORY

many Northern Ireland businesses, unless they restructure, will find they are either ineligible or won’t obtain maximum benefit. Alternatively, they may find the costs of complying with their tax obligations under the new regime disproportionate to the benefit they receive. HMRC has said that it expects Northern Ireland businesses to restructure in order to best secure the benefits of the lower tax rate so, it’s not surprising that this is on the ‘to do’ list of most Finance Directors. PwC is already seeing, two years in advance of the new rate, businesses looking at their structure and making appropriate changes. Sometimes this involves separating (or even consolidating) certain business activities, introducing new companies into the group or moving assets into or out of personal ownership.

Conclusion For a huge variety of reasons, now is absolutely the right time to review the structure of your business and ensure it is still ‘fit for purpose’. A robust tax efficient structure will ensure your assets are protected and value maximised. It will also make succession planning easier and minimise the risk of surprise tax liabilities. After all, it would be a real shame, having weathered the storm of the last few years and kept a business afloat, to then put it at risk due to unanticipated tax costs. That’s where we come in. PwC’s tax team has 65 locally-based tax specialists covering all aspects of tax relevant to private business owners, their families and their businesses. We work alongside our clients to make sure they have tax strategies in place that provide the best solutions for the entrepreneur, the business and the family. Our tax team provides world class technical advice and a pragmatic and commercial approach to business planning right here on your door step. So, for private businesses operating locally or globally, we are your one stop shop for tax advice so you can be confident you’re covering all bases.

Janette Jones, Partner, Head of NI tax practice Email: Janette.jones@uk.pwc.com Tel: 028 9041 5201

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ANALYSIS

The three Ps of business energy

By Alan Egner, Commercial Sales & Marketing Manager at Power NI

switched on to saving energy is no longer enough. There has been a huge increase in the number of homes, farms and businesses embracing renewable technology and generating their own electricity by fitting solar PV panels, wind turbines or digesters. In addition to reducing their bills, many of these savvy operators are also able to take advantage of generous government incentives and earn extra money from selling energy certificates (ROCs). However changes to legislation in late 2015 brought an end to incentives for new wind turbine installations.

Alan Egner

eductions in electricity have grabbed the headlines recently, with Power NI leading the way with an average 10% cut in their small business and farm tariffs from 1 April 2016. This means that in real terms, the majority of Northern Ireland’s small and medium-sized businesses are now paying the same for electricity as they were in 2008! Of course, this doesn’t mean that everything is rosy in the energy garden. While for the majority of businesses here prices are similar to those in ROI and close to the EU average, for very large users a significant price gap exists between here and in ROI. This is one of the big issues exercising the minds of energy policy makers on both sides of the border at the moment. Energy remains a significant overhead for many businesses and unless you apply the same rigour as you do to other costs you risk becoming uncompetitive through lack of knowledge, bad choices

or just plain complacency. There are three Ps to consider before you can tick your energy box with confidence which are price, performance and payment. Let’s start with price. At contract renewal time how many of us take the time to shop around to make sure we are getting the best rate? And what type of deal is best for your needs? Is now a good time to fix prices, or do you take your chances with a market tracker product? If you decide to switch supplier how will it impact on bill clarity and after-sales service? As with all decisions in business there is an element of risk involved, but at least if you go in with your eyes open and ask the right questions you are in with a better chance of getting a good deal. Next is performance, the way that you use the electricity in your business. We all know that being energy efficient can make a big difference to our bills. Low energy lighting, wall and loft insulation and energy efficient appliances are all tried and tested ways to save the pennies. But for many, being

The last P is payment. Like most other utilities, energy suppliers prefer Direct Debit as it ensures that payments are almost always made in full and on time. Most suppliers offer incentives to customers who pay this way, so if you aren’t already paying by Direct Debit you are almost certainly missing out on discount. Some suppliers also offer additional discount for online paperless billing. Looking forward, despite the growth of renewable energy locally, most of our electricity is still generated from fossil fuels and we remain a small island, at the edge of Europe, exposed to price fluctuations on volatile world fuel markets. So enjoy this period of lower prices while it lasts, shop around to get the best deal for your electricity and use it as efficiently as possible.

Power NI supplies around 35,000 businesses and is the largest energy provider in Northern Ireland. They have produced a free ‘Buyers Guide to electricity’ at www. powerni.co.uk/largerusers. To switch your Business Energy back to Power NI, visit www. powerni.co.uk/welcomehome or call the Customer Care Team on 03457 455 455.

We’ve welcomed home over 600 businesses and farms in the last year to: Lower prices Great discounts No. 1 customer service* Visit powerni.co.uk/welcomehome and switch today

*Lower prices – average 10% price cut to Power NI regulated small business and farm tariffs, effective 1 April 2016. No. 1 customer service – Millward Brown Research 2015 (average 808 respondents) – 63% for Power NI as No. 1 for customer service versus three main competitors.

The real home of Business Energy

COMMERCIAL PROPERTY

Robert Watson

Local knowledge gives independents the edge By Robert Watson, Director, Osborne King Commercial Property Consultants

think most feel a sense of pride when we watch our local sporting heroes produce stand-out achievements on the world stage. Rory McIlroy and recently Carl Frampton are obvious examples. Personally, I am looking forward to a trip to Paris in June to watch Northern Ireland take on Germany in the Euros, although don’t bet against ‘Norn Iron’ making it through to the knock-out stages! In business too we have many indigenous, market-leading companies which prosper by

remaining independent of UK or international parents. They do so through a combination of visionary leadership, innovation and of course a great team of employees. One such company is the Henderson Group based in Mallusk. This is a Northern Ireland Top 20 company now in its fourth generation of family ownership. It employs approximately 2,900 people and comprises four companies: Henderson Wholesale Ltd, Henderson Group Property Ltd, Henderson Food Service Ltd and Henderson Retail Ltd. The latter is best known as it trades under the Spar, Eurospar and Vivo brands operating close to 80

convenience shops across Northern Ireland. Henderson’s is also the largest petrol filling station operator in the province. Additionally, they supply hundreds of independently owned shops which operate under their brands. Such a huge operation requires sizeable administrative and distribution facilities and their Mallusk operation is in excess of 400,000 sq ft and growing. For many years, we have provided a range of property-related services to the Henderson Group, reporting to the company’s inhouse property team. We are a natural fit.

COMMERCIAL PROPERTY

Osborne King is also a long-established independent company and a market leader in providing property-related consultancy services to businesses throughout Northern Ireland. Whilst our clients range from multi-national companies to sole traders, our Northern Ireland focus ensures that we have an unrivalled knowledge of the Northern Irish property market. As an independent company there is no hiding place. We have to provide a quality service focused on our clients’ needs and the long-term relationships we build suggest this is what works for our clients also. Our success is down to a committed experienced team who have bought into the company’s core values; commerciality delivered with integrity. Perhaps that is why our relationship with the Henderson Group has flourished over the last 14 years. Our first instruction for the Henderson

Group was to report asset valuations for incorporation into their 2002 year end accounts. We have been providing asset valuations every year since on their rapidly expanding portfolio of trading and investment properties.

landlord/tenant negotiations, agency and rating advice. Working for an organisation which owns one of the largest property portfolios in Northern Ireland but which is predominantly a retail-led business has its challenges, albeit these are challenges we relish.

“We have to provide a quality service focused on our clients’ needs and the long-term relationships we build suggest this is what works for our clients.”

Key to the success of the relationship is an understanding of the group’s business and the strong partnership built up with Henderson’s property team led by property director, Mark Adrain.

Our support services rapidly expanded to include the management of all of their sites on which they have tenants, as well as

At Osborne King we value our relationships with our clients and take pride in knowing we have played a part in their success, however small. There are definite signs of an improving property market and with our enviable blend of experience and youthful enthusiasm we believe we are ideally placed to provide the advice and services our clients require and value.

Deal focus: Hendersons

his collaborative approach was particularly effective in helping solve the outgrowing of our 22-acre distribution site at Mallusk. Although the site was already intensively developed, we had drawn up plans to incorporate more warehousing space; not ideal as it would reduce further the already limited circulation and parking space. Osborne King identified the opportunity to buy, offmarket, the former Marks & Spencer distribution depot on the opposite side of Mallusk Road. This site extended to 8.25 acres on which stood a dated 175,000 sq ft distribution facility. Whilst Marks & Spencer had five years remaining on their lease, we were aware they were minded to terminate their lease early to pursue a new distribution solution. Although not an ideal scenario for an investor, it presented an ideal opportunity for us to expand our site at Mallusk. Osborne King successfully negotiated the purchase of the investment from the then landlord and subsequently we negotiated a deal with Marks & Spencer which allowed them to leave granting us the vacant possession we desired. We will shortly go on site to upgrade the facility to suit our needs. This solution will prove much more effective to our business than further piecemeal over development of our current site and it will provide future-proofing surplus space and land for further development as our business continues to expand.

APRIL 2016

SUPPORTING BUSINESSES IN NORTHERN IRELAND FOR 20 YEARS

TOP 200 SMEs FOREWORD

Hats off to the Next 200 By Adrian Doran, Head of Corporate Banking at Barclays Northern Ireland

slowly tilts from being public sector led to private sector led, we should expect to see our local SME base continuing to grow and prosper. With the global uncertainties ranging from Chinese growth to falling commodity prices prevalent at the start of the year, together with the forthcoming EU referendum now dominating the headlines, it could easily be forgotten that the overall environment for Northern Ireland SMEs remains quite favourable.

Adrian Doran

he strength of local business has never been more important than it is just now, given the need to rebalance our local economy against a backdrop of on-going economic challenges that we face in Northern Ireland. That’s why it’s incredibly encouraging to see so many success stories within the Ulster Business Next 200 SMEs listing. Whilst perhaps currently lacking the scale of their Top 100 brethren, the Next 200 are in many ways even more important to the Northern Ireland economy – they are the high growth businesses, in most instances still locally owned, which power the Northern Ireland economy – our equivalent of the famous “Mittelstand” that is the back-bone of the German economy. Taken together, we can see that in aggregate the Next 200 grew turnover over the past year by 6%, whilst after stripping out some exceptional gains last year, underlying profits remained fairly static. Part of this no doubt reflects the fact that many companies are still recovering after the recession and therefore we’re coming off a relatively low base, however the underlying trend is clearly upwards. Collectively these companies

directly employ over 47,000 people in Northern Ireland (11% growth over the year), and the impact of this spending power in terms of our relatively small private sector economy cannot be over-stated. It’s difficult to spot any particular sector trends (there will always be winners in every sector), however it’s worth highlighting the resurgence among many of our local companies that are active in the construction industry, or supply into that sector. Companies like Grahams, Heron Bros, Felix O’Hare, Keystone Lentils, Tracy Brothers, and Haldane Fisher, all recorded double digit increases in turnover. In many instances these companies have restructured their business during the downturn, and are now reaping the rewards as construction activity recovers. This ability to adapt quickly to new challenges and opportunities is the hall-mark of many of our local SMEs, and this fleetness of foot is something which gives them a distinct advantage compared to larger companies. Many of the Next 200 are targeting new niche markets or are undertaking innovative R&D which will no doubt deliver significant growth in the years ahead. As our economy

The UK is still one of the best performing major economies in the world, and according to Ireland’s Central Statistics Office, economic growth in the Republic of Ireland was an impressive 7.8% last year. In fact, based on EU data, Ireland is growing faster than at any time since 2000, and has been the fastest growing economy in the EU for the last two years. As our largest export market, this can only bode well for the UB200’s continued growth. Local business and consumer confidence appear relatively robust and house prices are continuing to increase. Costs for oil (and energy) are lower than at any time since the Great Recession, interest costs remain rock bottom, and there is not yet much sign of wage inflation. With the added benefit of 12.5% corporation tax from April 2018, businesses will be able to retain more of their profits for future growth and investment. For all these reasons, we believe the Next 200 have a bright future, and as a bank we’re keen to support these companies, and indeed the wider SME market, in Northern Ireland. We have invested in our own team and now have relationship managers covering every sized business from start-ups to PLCs. We believe access to competitive finance and top of the range banking technology is crucial if our SMEs are to grow and compete on a global stage.

UROSTOCK FOOD GROUP LTD HALDANE FISHER LTD AVONDALE FOODS (CRAIGAVON) LTD PHOENIX NATURAL GAS LTD REGENCY CARPET MANUFACTURING LTD BAM CONTRACTORS (NI) LTD B.H.C. LTD UNILIN DISTRIBUTION LTD PROPERTY MANAGEMENT SERVICES (NI) LTD UNITED FEEDS LTD PRE RICS LIMITED DESMOND MOTORS LTD BEMIS HEALTHCARE PACKAGING LTD AGHAREANY LIMITED DIESEL CARD INTERNATIONAL LTD MURDOCK BUILDERS MERCHANTS LTD VETERINARY SURGEONS SUPPLY COMPANY LTD JAMES TOLLAND & COMPANY LTD KEYSTONE HOLDING LTD EVRON F D WALTER WATSON LIMITED DELTA PRINT AND PACKAGING LTD COPELAND LTD NORTHWAY MUSHROOMS LIMITED N.I.I.B. GROUP LTD DENNISON COMMERCIALS LTD DECORA BLIND SYSTEMS LTD CHARLES TENNANT AND COMPANY (NORTHERN IRELAND) LTD M.J.M. MARINE LTD HARRY CORRY LIM 963 LIMITED BETTERCARE KEYS LTD BSG CIVIL ENGINEERING LTD DOHERTY & GRAY LTD J.K.C. GARAGES (COLERAINE) LTD GE GRID SOLUTIONS (UK) LTD ANDREWS HOLDINGS LTD FELIX O’HARE & COMPANY LTD C & J MEATS LTD HENRY GROUP (NI) LTD JOHN WOODS (LISGLYN) LIMITED FOYL D CAMDEN GROUP LIMITED M-B TRUCK AND VAN (NI) LTD ROMATECH (NI) LTD UNITED WINE MERCHANTS LTD HAMPDEN GROUP LTD T.B.F. THOMPSON (GARVAGH) LTD K.P.L. CONTRACTS LTD RESOURCE (NI) LTD AUTOLINE DIRECT INSURANCE CONSULTANTS LTD BRAKES FOODSERVICE NI LTD & CO. LTD BEVERAGE PLASTICS LTD PORTVIEW FIT-OUT LTD ACHESON HOLDINGS LTD KEYSTONE LINTELS LTD UNITED MOLASSES GB LTD GREINER PACKAGING LTD HARVEY GROUP PLC WESTERN BUILDING SYSTEMS (HLD) LTD BRYSON CHARITABLE GROUP BUDGET ENERGY LTD WORLD TR E LTD CALOR GAS NORTHERN IRELAND LTD THE McAVOY GROUP LTD DENNISON TRAILERS LTD LIBERTY INFORMATION TECHNOLOGY LTD BALLINASKEAGH GRAINS LTD DILLON BASS LTD HENRY BROTHERS (MAGHERAFELT) LTD BALLYROBERT SERVICE STATION LTD D McGRANAGHAN LTD EUROS NI LTD HASTINGS HOTELS GROUP LTD MONTGOMERY TRANSPORT LTD PRESTIGE INSURANCE HOLDINGS LTD JOHN McQUILLAN (CONTRACTS) LTD CDE GLOBAL LTD DAVID PRENTICE (CARS) LTD. O&S HOLDINGS LTD O’REILLY’S WHOLESALE LTD SMYTHS TOYS (NI) LTD BEDECK LTD SHELBO RS LTD CFG HOLDINGS LTD SERE LTD O&S DOORS LTD 352 MEDICAL LTD GAFFER (NI) LTD WESTERN BUILDING SYSTEMS LTD McBURNEY REFRIGERATION LTD EDWIN MAY LIMITED MORGAN TRANSPORT & DISTRIBUTION LTD MULTICHANNEL SOLUTIONS FOR ENTERTAINMENT (MSE) T&A KERNO NGS) LTD W.D. IRWIN & SONS LTD WILSONS OF RATHKENNY LTD JOHN MULHOLLAND MOTORS LTD LAGAN TECHNOLOGIES LTD BREEZEMOUNT (UK) LTD BELFAST INTERNATIONAL AIRPORT LTD HUHTAMAKI (LURGAN) LTD T&A KERNOGHAN LTD A.J. POWER LTD K. HUGHES & CO. LTD UNI-TRUNK HOLD G. EAKIN LTD KANE GROUP BUILDING SERVICES LTD KILWAUGHTER HOLDINGS LTD CONCENTRIX EUROPE LTD WINEFLAIR (BELFAST) LTD FRYLITE LTD PRAXIS CARE JMW FARMS LTD UNION STREET (LURGAN) LTD MALLAGHAN (HOLDINGS) LTD AMEY ROADS NI FINANCIAL PLC JAMES F McCU NAL HOLDINGS LTD LW SURPHLIS & SON LTD PATMOND ENERGY LTD MALLAGHAN ENGINEERING LTD COMPONENT DISTRIBUTORS GROUP LTD NATURAL WORLD PRODUCTS LTD A.& F.A. DUNDEE LTD AGNEW AUTOEXCHANGE LTD WILLIAMS INDUSTRIAL SERVICES LTD McMULLEN FACADES LTD CIAL LTD JOHNSON BROTHERS (BELFAST) LTD SPRINGVALE EPS LTD PREMIER TRANSMISSION LTD THE MOUNT CHARLES GROUP LTD CORPORATE CATERING MANAGEMENT LTD RICHMOND MARKETING (NI) LTD TRACEY BROTHERS LTD KILWAUGHTER CHEMICAL COMPANY LTD WESTBANK BUS LTD KILREA SERVICE STATION LTD CAPPER TRADING LTD ROBERT CAPPER HOLDINGS LTD MOYLE INTERCONNECTOR LTD MOYLE INTERCONNECTOR (FINANCING) PUBLIC LTD COMPANY BA KITCHEN COMPONENTS LTD SISK HEALTHCARE (UK) LTD TERUMO BCT LTD T. MET LTD HERBEL RESTAUR AURICE FLYNN & SONS LTD ULSTER INDEPENDENT CLINIC LTD PRECISION LIQUIDS LTD RADIUS PLASTICS LTD MAGOWAN TYRES (NI) LTD GEDA CONSTRUCTION LLP JOHN MACKLE (MOY) LTD EXTRASPACE SOLUTIONS (UK) LTD CALVIN KLEIN STORES UK LTD NORTH WEST BOOKMAKERS LTD FIVE & SERVICE STATION LTD SEATEM ATTRACTION TICKETS (UK) LTD STANLEY MOTOR WORKS (1932) LIMITED NEWBRIDGE ENTERPRISES LTD BANGOR FUELS LTD NOONAN SERVICES GROUP (NI) LTD THE BAIRD GROUP LTD MOYALLEN HOLDINGS LTD MANAGEMENT AND CONSTRUCTION LTD RATH ES EM NEWS DISTRIBUTION (NI) LTD RYOBI ALUMINIUM CASTING (UK) LTD SAVAGE & WHITTEN WHOLESALE LTD VAUGHAN ENGINEERING GROUP LTD WHITEMOUNTAIN QUARRIES LTD DONNELLY & TAGGART LIMITED SKEA EGG FARMS LTD KAINOS SOFTWARE LTD ULSTER CARPET MILLS (HOLDING HERN IRELAND RAILWAYS COMPANY LTD COONEEN BY DESIGN LTD MUTUAL ENERGY LTD HERBEL LTD McALEER & RUSHE LTD C.J. UPTON & SONS LTD STRATHROY DAIRY LTD CREAGH CONCRETE PRODUCTS LTD ALMAC PHARMA SERVICES LTD HARLAND AND WOLFF GROUP PLC WOODSIDE HAU NGS) LTD TENNENT’S NI LTD SEVERFIELD (NI) LTD ROADSIDE MOTORS LTD HERON BROS. LTD THOMPSON AERO SEATING LTD DRINKS INC. LTD WARNER CHILCOTT UK LTD HILTON MEATS (COOKSTOWN) LTD WILLIAM KEYS & SONS LTD MORGAN FUEL & LUBES LTD HEATONS (NI) LTD EUROSTOCK P LTD HALDANE FISHER LTD AVONDALE FOODS (CRAIGAVON) LTD PHOENIX NATURAL GAS LTD REGENCY CARPET MANUFACTURING LTD BAM CONTRACTORS (NI) LTD B.H.C. LTD UNILIN DISTRIBUTION LTD PROPERTY MANAGEMENT SERVICES (NI) LTD UNITED FEEDS LTD PREMIER ELECTRICS LIM OND MOTORS LTD BEMIS HEALTHCARE PACKAGING LTD AGHAREANY LIMITED DIESEL CARD INTERNATIONAL LTD MURDOCK BUILDERS MERCHANTS LTD VETERINARY SURGEONS SUPPLY COMPANY LTD JAMES TOLLAND & COMPANY LTD KEYSTONE HOLDING LTD EVRON FOODS LIMITED WALTER WA D DELTA PRINT AND PACKAGING LTD COPELAND LTD NORTHWAY MUSHROOMS LIMITED N.I.I.B. GROUP LTD DENNISON COMMERCIALS LTD DECORA BLIND SYSTEMS LTD CHARLES TENNANT AND COMPANY (NORTHERN IRELAND) LTD M.J.M. MARINE LTD HARRY CORRY LIMITED BSGL1963 LIM RCARE KEYS LTD BSG CIVIL ENGINEERING LTD DOHERTY & GRAY LTD J.K.C. GARAGES (COLERAINE) LTD GE GRID SOLUTIONS (UK) LTD ANDREWS HOLDINGS LTD FELIX O’HARE & COMPANY LTD C & J MEATS LTD HENRY GROUP (NI) LTD JOHN WOODS (LISGLYN) LIMITED FOYLESIDE LIMITED CA P LIMITED M-B TRUCK AND VAN (NI) LTD ROMATECH (NI) LTD UNITED WINE MERCHANTS LTD HAMPDEN GROUP LTD T.B.F. THOMPSON (GARVAGH) LTD K.P.L. CONTRACTS LTD RESOURCE (NI) LTD AUTOLINE DIRECT INSURANCE CONSULTANTS LTD BRAKES FOODSERVICE NI LTD JOHN HOGG & CO AGE PLASTICS LTD PORTVIEW FIT-OUT LTD ACHESON HOLDINGS LTD KEYSTONE LINTELS LTD UNITED MOLASSES GB LTD GREINER PACKAGING LTD HARVEY GROUP PLC WESTERN BUILDING SYSTEMS (HLD) LTD BRYSON CHARITABLE GROUP BUDGET ENERGY LTD WORLD TRAVEL CENTRE LTD C ORTHERN IRELAND LTD THE McAVOY GROUP LTD DENNISON TRAILERS LTD LIBERTY INFORMATION TECHNOLOGY LTD BALLINASKEAGH GRAINS LTD DILLON BASS LTD HENRY BROTHERS (MAGHERAFELT) LTD BALLYROBERT SERVICE STATION LTD D McGRANAGHAN LTD EUROSTOCK FOODS N NGS HOTELS GROUP LTD MONTGOMERY TRANSPORT LTD PRESTIGE INSURANCE HOLDINGS LTD JOHN McQUILLAN (CONTRACTS) LTD CDE GLOBAL LTD DAVID PRENTICE (CARS) LTD. O&S HOLDINGS LTD O’REILLY’S WHOLESALE LTD SMYTHS TOYS (NI) LTD BEDECK LTD SHELBOURNE MOTORS LTD NGS LTD SERE LTD O&S DOORS LTD 352 MEDICAL LTD GAFFER (NI) LTD WESTERN BUILDING SYSTEMS LTD McBURNEY REFRIGERATION LTD EDWIN MAY LIMITED MORGAN TRANSPORT & DISTRIBUTION LTD MULTICHANNEL SOLUTIONS FOR ENTERTAINMENT (MSE) T&A KERNOGHAN (HOLDINGS) LTD & SONS LTD WILSONS OF RATHKENNY LTD JOHN MULHOLLAND MOTORS LTD LAGAN TECHNOLOGIES LTD BREEZEMOUNT (UK) LTD BELFAST INTERNATIONAL AIRPORT LTD HUHTAMAKI (LURGAN) LTD T&A KERNOGHAN LTD A.J. POWER LTD K. HUGHES & CO. LTD UNI-TRUNK HOLDINGS LTD T.G. EAK GROUP BUILDING SERVICES LTD KILWAUGHTER HOLDINGS LTD CONCENTRIX EUROPE LTD WINEFLAIR (BELFAST) LTD FRYLITE LTD PRAXIS CARE JMW FARMS LTD UNION STREET (LURGAN) LTD MALLAGHAN (HOLDINGS) LTD AMEY ROADS NI FINANCIAL PLC JAMES F McCUE LTD GERMINAL HOL W SURPHLIS & SON LTD PATMOND ENERGY LTD MALLAGHAN ENGINEERING LTD COMPONENT DISTRIBUTORS GROUP LTD NATURAL WORLD PRODUCTS LTD A.& F.A. DUNDEE LTD AGNEW AUTOEXCHANGE LTD WILLIAMS INDUSTRIAL SERVICES LTD McMULLEN FACADES LTD FLEET FINANCIAL LTD JOH HERS (BELFAST) LTD SPRINGVALE EPS LTD PREMIER TRANSMISSION LTD THE MOUNT CHARLES GROUP LTD CORPORATE CATERING MANAGEMENT LTD RICHMOND MARKETING (NI) LTD TRACEY BROTHERS LTD KILWAUGHTER CHEMICAL COMPANY LTD WESTBANK BUSINESS PARK LTD KILREA SE N LTD CAPPER TRADING LTD ROBERT CAPPER HOLDINGS LTD MOYLE INTERCONNECTOR LTD MOYLE INTERCONNECTOR (FINANCING) PUBLIC LTD COMPANY BA KITCHEN COMPONENTS LTD SISK HEALTHCARE (UK) LTD TERUMO BCT LTD T. MET LTD HERBEL RESTAURANTS LTD MAURICE FLYNN & LSTER INDEPENDENT CLINIC LTD PRECISION LIQUIDS LTD RADIUS PLASTICS LTD MAGOWAN TYRES (NI) LTD GEDA CONSTRUCTION LLP JOHN MACKLE (MOY) LTD EXTRASPACE SOLUTIONS (UK) LTD CALVIN KLEIN STORES UK LTD NORTH WEST BOOKMAKERS LTD FIVEWAYS SHOP & SERVICE STATIO M ATTRACTION TICKETS (UK) LTD STANLEY MOTOR WORKS (1932) LIMITED NEWBRIDGE ENTERPRISES LTD BANGOR FUELS LTD NOONAN SERVICES GROUP (NI) LTD THE BAIRD GROUP LTD MOYALLEN HOLDINGS LTD MANAGEMENT AND CONSTRUCTION LTD RATHMORE ESTATES EM NEWS DISTRIB D RYOBI ALUMINIUM CASTING (UK) LTD SAVAGE & WHITTEN WHOLESALE LTD VAUGHAN ENGINEERING GROUP LTD WHITEMOUNTAIN QUARRIES LTD DONNELLY & TAGGART LIMITED SKEA EGG FARMS LTD KAINOS SOFTWARE LTD ULSTER CARPET MILLS (HOLDINGS) LTD NORTHERN IRELAND RAIL ANY LTD COONEEN BY DESIGN LTD MUTUAL ENERGY LTD HERBEL LTD McALEER & RUSHE LTD C.J. UPTON & SONS LTD STRATHROY DAIRY LTD CREAGH CONCRETE PRODUCTS LTD ALMAC PHARMA SERVICES LTD HARLAND AND WOLFF GROUP PLC WOODSIDE HAULAGE (HOLDINGS) LTD TENNEN EVERFIELD (NI) LTD ROADSIDE MOTORS LTD HERON BROS. LTD THOMPSON AERO SEATING LTD DRINKS INC. LTD WARNER CHILCOTT UK LTD HILTON MEATS (COOKSTOWN) LTD WILLIAM KEYS & SONS LTD MORGAN FUEL & LUBES LTD HEATONS (NI) LTD EUROSTOCK FOOD GROUP LTD HALDANE F VONDALE FOODS (CRAIGAVON) LTD PHOENIX NATURAL GAS LTD REGENCY CARPET MANUFACTURING LTD BAM CONTRACTORS (NI) LTD B.H.C. LTD UNILIN DISTRIBUTION LTD PROPERTY MANAGEMENT SERVICES (NI) LTD UNITED FEEDS LTD PREMIER ELECTRICS LIMITED DESMOND MOTORS LTD B HCARE PACKAGING LTD AGHAREANY LIMITED DIESEL CARD INTERNATIONAL LTD MURDOCK BUILDERS MERCHANTS LTD VETERINARY SURGEONS SUPPLY COMPANY LTD JAMES TOLLAND & COMPANY LTD KEYSTONE HOLDING LTD EVRON FOODS LIMITED WALTER WATSON LIMITED DELTA PRIN GING LTD COPELAND LTD NORTHWAY MUSHROOMS LIMITED N.I.I.B. GROUP LTD DENNISON COMMERCIALS LTD DECORA BLIND SYSTEMS LTD CHARLES TENNANT AND COMPANY (NORTHERN IRELAND) LTD M.J.M. MARINE LTD HARRY CORRY LIMITED BSGL1963 LIMITED BETTERCARE KEYS LTD NGINEERING LTD DOHERTY & GRAY LTD J.K.C. GARAGES (COLERAINE) LTD GE GRID SOLUTIONS (UK) LTD ANDREWS HOLDINGS LTD FELIX O’HARE & COMPANY LTD C & J MEATS LTD HENRY GROUP (NI) LTD JOHN WOODS (LISGLYN) LIMITED FOYLESIDE LIMITED CAMDEN GROUP LIMITED M-B TRUC I) LTD ROMATECH (NI) LTD UNITED WINE MERCHANTS LTD HAMPDEN GROUP LTD T.B.F. THOMPSON (GARVAGH) LTD K.P.L. CONTRACTS LTD RESOURCE (NI) LTD AUTOLINE DIRECT INSURANCE CONSULTANTS LTD BRAKES FOODSERVICE NI LTD JOHN HOGG & CO. LTD BEVERAGE PLASTICS LTD POR T LTD ACHESON HOLDINGS LTD KEYSTONE LINTELS LTD UNITED MOLASSES GB LTD GREINER PACKAGING LTD HARVEY GROUP PLC WESTERN BUILDING SYSTEMS (HLD) LTD BRYSON CHARITABLE GROUP BUDGET ENERGY LTD WORLD TRAVEL CENTRE LTD CALOR GAS NORTHERN IRELAND LTD Y GROUP LTD DENNISON TRAILERS LTD LIBERTY INFORMATION TECHNOLOGY LTD BALLINASKEAGH GRAINS LTD DILLON BASS LTD HENRY BROTHERS (MAGHERAFELT) LTD BALLYROBERT SERVICE STATION LTD D McGRANAGHAN LTD EUROSTOCK FOODS NI LTD HASTINGS HOTELS GROU GOMERY TRANSPORT LTD PRESTIGE INSURANCE HOLDINGS LTD JOHN McQUILLAN (CONTRACTS) LTD CDE GLOBAL LTD DAVID PRENTICE (CARS) LTD. O&S HOLDINGS LTD O’REILLY’S WHOLESALE LTD SMYTHS TOYS (NI) LTD BEDECK LTD SHELBOURNE MOTORS LTD CFG HOLDINGS LTD SERE LTD S LTD 352 MEDICAL LTD GAFFER (NI) LTD WESTERN BUILDING SYSTEMS LTD McBURNEY REFRIGERATION LTD EDWIN MAY LIMITED MORGAN TRANSPORT & DISTRIBUTION LTD MULTICHANNEL SOLUTIONS FOR ENTERTAINMENT (MSE) T&A KERNOGHAN (HOLDINGS) LTD W.D. IRWIN & SONS LTD WIL THKENNY LTD JOHN MULHOLLAND MOTORS LTD LAGAN TECHNOLOGIES LTD BREEZEMOUNT (UK) LTD BELFAST INTERNATIONAL AIRPORT LTD HUHTAMAKI (LURGAN) LTD T&A KERNOGHAN LTD A.J. POWER LTD K. HUGHES & CO. LTD UNI-TRUNK HOLDINGS LTD T.G. EAKIN LTD KANE GROUP BUI CES LTD KILWAUGHTER HOLDINGS LTD CONCENTRIX EUROPE LTD WINEFLAIR (BELFAST) LTD FRYLITE LTD PRAXIS CARE JMW FARMS LTD UNION STREET (LURGAN) LTD MALLAGHAN (HOLDINGS) LTD AMEY ROADS NI FINANCIAL PLC JAMES F McCUE LTD GERMINAL HOLDINGS LTD LW SURPHLIS ATMOND ENERGY LTD MALLAGHAN ENGINEERING LTD COMPONENT DISTRIBUTORS GROUP LTD NATURAL WORLD PRODUCTS LTD A.& F.A. DUNDEE LTD AGNEW AUTOEXCHANGE LTD WILLIAMS INDUSTRIAL SERVICES LTD McMULLEN FACADES LTD FLEET FINANCIAL LTD JOHNSON BROTHERS (BEL PRINGVALE EPS LTD PREMIER TRANSMISSION LTD THE MOUNT CHARLES GROUP LTD CORPORATE CATERING MANAGEMENT LTD RICHMOND MARKETING (NI) LTD TRACEY BROTHERS LTD KILWAUGHTER CHEMICAL COMPANY LTD WESTBANK BUSINESS PARK LTD KILREA SERVICE STATION LTD CA NG LTD ROBERT CAPPER HOLDINGS LTD MOYLE INTERCONNECTOR LTD MOYLE INTERCONNECTOR (FINANCING) PUBLIC LTD COMPANY BA KITCHEN COMPONENTS LTD SISK HEALTHCARE (UK) LTD TERUMO BCT LTD T. MET LTD HERBEL RESTAURANTS LTD MAURICE FLYNN & SONS LTD UL ENDENT CLINIC LTD PRECISION LIQUIDS LTD RADIUS PLASTICS LTD MAGOWAN TYRES (NI) LTD GEDA CONSTRUCTION LLP JOHN MACKLE (MOY) LTD EXTRASPACE SOLUTIONS (UK) LTD CALVIN KLEIN STORES UK LTD NORTH WEST BOOKMAKERS LTD FIVEWAYS SHOP & SERVICE STATION LTD SE CTION TICKETS (UK) LTD STANLEY MOTOR WORKS (1932) LIMITED NEWBRIDGE ENTERPRISES LTD BANGOR FUELS LTD NOONAN SERVICES GROUP (NI) LTD THE BAIRD GROUP LTD MOYALLEN HOLDINGS LTD MANAGEMENT AND CONSTRUCTION LTD RATHMORE ESTATES EM NEWS DISTRIBUTION (N ALUMINIUM CASTING (UK) LTD SAVAGE & WHITTEN WHOLESALE LTD VAUGHAN ENGINEERING GROUP LTD WHITEMOUNTAIN QUARRIES LTD DONNELLY & TAGGART LIMITED SKEA EGG FARMS LTD KAINOS SOFTWARE LTD ULSTER CARPET MILLS (HOLDINGS) LTD NORTHERN IRELAND RAILWAYS COM OONEEN BY DESIGN LTD MUTUAL ENERGY LTD HERBEL LTD McALEER & RUSHE LTD C.J. UPTON & SONS LTD STRATHROY DAIRY LTD CREAGH CONCRETE PRODUCTS LTD ALMAC PHARMA SERVICES LTD HARLAND AND WOLFF GROUP PLC WOODSIDE HAULAGE (HOLDINGS) LTD TENNENT’S N FIELD (NI) LTD ROADSIDE MOTORS LTD HERON BROS. LTD THOMPSON AERO SEATING LTD DRINKS INC. LTD WARNER CHILCOTT UK LTD HILTON MEATS (COOKSTOWN) LTD WILLIAM KEYS & SONS LTD MORGAN FUEL & LUBES LTD HEATONS (NI) LTD EUROSTOCK FOOD GROUP LTD HALDANE FISHE ALE FOODS (CRAIGAVON) LTD PHOENIX NATURAL GAS LTD REGENCY CARPET MANUFACTURING LTD BAM CONTRACTORS (NI) LTD B.H.C. LTD UNILIN DISTRIBUTION LTD PROPERTY MANAGEMENT SERVICES (NI) LTD UNITED FEEDS LTD PREMIER ELECTRICS LIMITED DESMOND MOTORS LTD B HCARE PACKAGING LTD AGHAREANY LIMITED DIESEL CARD INTERNATIONAL LTD MURDOCK BUILDERS MERCHANTS LTD VETERINARY SURGEONS SUPPLY COMPANY LTD JAMES TOLLAND & COMPANY LTD KEYSTONE HOLDING LTD EVRON FOODS LIMITED WALTER WATSON LIMITED DELTA PRIN GING LTD COPELAND LTD NORTHWAY MUSHROOMS LIMITED N.I.I.B. GROUP LTD DENNISON COMMERCIALS LTD DECORA BLIND SYSTEMS LTD CHARLES TENNANT AND COMPANY (NORTHERN IRELAND) LTD M.J.M. MARINE LTD HARRY CORRY LIMITED BSGL1963 LIMITED BETTERCARE KEYS LTD NGINEERING LTD DOHERTY & GRAY LTD J.K.C. GARAGES (COLERAINE) LTD GE GRID SOLUTIONS (UK) LTD ANDREWS HOLDINGS LTD FELIX O’HARE & COMPANY LTD C & J MEATS LTD HENRY GROUP (NI) LTD JOHN WOODS (LISGLYN) LIMITED FOYLESIDE LIMITED CAMDEN GROUP LIMITED M-B TRUC I) LTD ROMATECH (NI) LTD UNITED WINE MERCHANTS LTD HAMPDEN GROUP LTD T.B.F. THOMPSON (GARVAGH) LTD K.P.L. CONTRACTS LTD RESOURCE (NI) LTD AUTOLINE DIRECT INSURANCE CONSULTANTS LTD BRAKES FOODSERVICE NI LTD JOHN HOGG & CO. LTD BEVERAGE PLASTICS LTD POR T LTD ACHESON HOLDINGS LTD KEYSTONE LINTELS LTD UNITED MOLASSES GB LTD GREINER PACKAGING LTD HARVEY GROUP PLC WESTERN BUILDING SYSTEMS (HLD) LTD BRYSON CHARITABLE GROUP BUDGET ENERGY LTD WORLD TRAVEL CENTRE LTD CALOR GAS NORTHERN IRELAND LTD Y GROUP LTD DENNISON TRAILERS LTD LIBERTY INFORMATION TECHNOLOGY LTD BALLINASKEAGH GRAINS LTD DILLON BASS LTD HENRY BROTHERS (MAGHERAFELT) LTD BALLYROBERT SERVICE STATION LTD D McGRANAGHAN LTD EUROSTOCK FOODS NI LTD HASTINGS HOTELS GROU GOMERY TRANSPORT LTD PRESTIGE INSURANCE HOLDINGS LTD JOHN McQUILLAN (CONTRACTS) LTD CDE GLOBAL LTD DAVID PRENTICE (CARS) LTD. O&S HOLDINGS LTD O’REILLY’S WHOLESALE LTD SMYTHS TOYS (NI) LTD BEDECK LTD SHELBOURNE MOTORS LTD CFG HOLDINGS LTD SERE LTD S LTD 352 MEDICAL LTD GAFFER (NI) LTD WESTERN BUILDING SYSTEMS LTD McBURNEY REFRIGERATION LTD EDWIN MAY LIMITED MORGAN TRANSPORT & DISTRIBUTION LTD MULTICHANNEL SOLUTIONS FOR ENTERTAINMENT (MSE) T&A KERNOGHAN (HOLDINGS) LTD W.D. IRWIN & SONS LTD WIL THKENNY LTD JOHN MULHOLLAND MOTORS LTD LAGAN TECHNOLOGIES LTD BREEZEMOUNT (UK) LTD BELFAST INTERNATIONAL AIRPORT LTD HUHTAMAKI (LURGAN) LTD T&A KERNOGHAN LTD A.J. POWER LTD K. HUGHES & CO. LTD UNI-TRUNK HOLDINGS LTD T.G. EAKIN LTD KANE GROUP BUI CES LTD KILWAUGHTER HOLDINGS LTD CONCENTRIX EUROPE LTD WINEFLAIR (BELFAST) LTD FRYLITE LTD PRAXIS CARE JMW FARMS LTD UNION STREET (LURGAN) LTD MALLAGHAN (HOLDINGS) LTD AMEY ROADS NI FINANCIAL PLC JAMES F McCUE LTD GERMINAL HOLDINGS LTD LW SURPHLIS ATMOND ENERGY LTD MALLAGHAN ENGINEERING LTD COMPONENT DISTRIBUTORS GROUP LTD NATURAL WORLD PRODUCTS LTD A.& F.A. DUNDEE LTD AGNEW AUTOEXCHANGE LTD WILLIAMS INDUSTRIAL SERVICES LTD McMULLEN FACADES LTD FLEET FINANCIAL LTD JOHNSON BROTHERS (BEL PRINGVALE EPS LTD PREMIER TRANSMISSION LTD THE MOUNT CHARLES GROUP LTD CORPORATE CATERING MANAGEMENT LTD RICHMOND MARKETING (NI) LTD TRACEY BROTHERS LTD KILWAUGHTER CHEMICAL COMPANY LTD WESTBANK BUSINESS PARK LTD KILREA SERVICE STATION LTD CA NG LTD ROBERT CAPPER HOLDINGS LTD MOYLE INTERCONNECTOR LTD MOYLE INTERCONNECTOR (FINANCING) PUBLIC LTD COMPANY BA KITCHEN COMPONENTS LTD SISK HEALTHCARE (UK) LTD TERUMO BCT LTD T. MET LTD HERBEL RESTAURANTS LTD MAURICE FLYNN & SONS LTD UL ENDENT CLINIC LTD PRECISION LIQUIDS LTD RADIUS PLASTICS LTD MAGOWAN TYRES (NI) LTD GEDA CONSTRUCTION LLP JOHN MACKLE (MOY) LTD EXTRASPACE SOLUTIONS (UK) LTD CALVIN KLEIN STORES UK LTD NORTH WEST BOOKMAKERS LTD FIVEWAYS SHOP & SERVICE STATION LTD SE CTION TICKETS (UK) LTD STANLEY MOTOR WORKS (1932) LIMITED NEWBRIDGE ENTERPRISES LTD BANGOR FUELS LTD NOONAN SERVICES GROUP (NI) LTD THE BAIRD GROUP LTD MOYALLEN HOLDINGS LTD MANAGEMENT AND CONSTRUCTION LTD RATHMORE ESTATES EM NEWS DISTRIBUTION (N ALUMINIUM CASTING (UK) LTD SAVAGE & WHITTEN WHOLESALE LTD VAUGHAN ENGINEERING GROUP LTD WHITEMOUNTAIN QUARRIES LTD DONNELLY & TAGGART LIMITED SKEA EGG FARMS LTD KAINOS SOFTWARE LTD ULSTER CARPET MILLS (HOLDINGS) LTD NORTHERN IRELAND RAILWAYS COM OONEEN BY DESIGN LTD MUTUAL ENERGY LTD HERBEL LTD McALEER & RUSHE LTD C.J. UPTON & SONS LTD STRATHROY DAIRY LTD CREAGH CONCRETE PRODUCTS LTD ALMAC PHARMA SERVICES LTD HARLAND AND WOLFF GROUP PLC WOODSIDE HAULAGE (HOLDINGS) LTD TENNENT’S N FIELD (NI) LTD ROADSIDE MOTORS LTD HERON BROS. LTD THOMPSON AERO SEATING LTD DRINKS INC. LTD WARNER CHILCOTT UK LTD HILTON MEATS (COOKSTOWN) LTD WILLIAM KEYS & SONS LTD MORGAN FUEL & LUBES LTD HEATONS (NI) LTD EUROSTOCK FOOD GROUP LTD HALDANE FISHE ALE FOODS (CRAIGAVON) LTD PHOENIX NATURAL GAS LTD REGENCY CARPET MANUFACTURING LTD BAM CONTRACTORS (NI) LTD B.H.C. LTD UNILIN DISTRIBUTION LTD PROPERTY MANAGEMENT SERVICES (NI) LTD UNITED FEEDS LTD PREMIER ELECTRICS LIMITED DESMOND MOTORS LTD B HCARE PACKAGING LTD AGHAREANY LIMITED DIESEL CARD INTERNATIONAL LTD MURDOCK BUILDERS MERCHANTS LTD VETERINARY SURGEONS SUPPLY COMPANY LTD JAMES TOLLAND & COMPANY LTD KEYSTONE HOLDING LTD EVRON FOODS LIMITED WALTER WATSON LIMITED DELTA PRIN GING LTD COPELAND LTD NORTHWAY MUSHROOMS LIMITED N.I.I.B. GROUP LTD DENNISON COMMERCIALS LTD DECORA BLIND SYSTEMS LTD CHARLES TENNANT AND COMPANY (NORTHERN IRELAND) LTD M.J.M. MARINE LTD HARRY CORRY LIMITED BSGL1963 LIMITED BETTERCARE KEYS LTD NGINEERING LTD DOHERTY & GRAY LTD J.K.C. GARAGES (COLERAINE) LTD GE GRID SOLUTIONS (UK) LTD ANDREWS HOLDINGS LTD FELIX O’HARE & COMPANY LTD C & J MEATS LTD HENRY GROUP (NI) LTD JOHN WOODS (LISGLYN) LIMITED FOYLESIDE LIMITED CAMDEN GROUP LIMITED M-B TRUC I) LTD ROMATECH (NI) LTD UNITED WINE MERCHANTS LTD HAMPDEN GROUP LTD T.B.F. THOMPSON (GARVAGH) LTD K.P.L. CONTRACTS LTD RESOURCE (NI) LTD AUTOLINE DIRECT INSURANCE CONSULTANTS LTD BRAKES FOODSERVICE NI LTD JOHN HOGG & CO. LTD BEVERAGE PLASTICS LTD POR T LTD ACHESON HOLDINGS LTD KEYSTONE LINTELS LTD UNITED MOLASSES GB LTD GREINER PACKAGING LTD HARVEY GROUP PLC WESTERN BUILDING SYSTEMS (HLD) LTD BRYSON CHARITABLE GROUP BUDGET ENERGY LTD WORLD TRAVEL CENTRE LTD CALOR GAS NORTHERN IRELAND LTD Y GROUP LTD DENNISON TRAILERS LTD LIBERTY INFORMATION TECHNOLOGY LTD BALLINASKEAGH GRAINS LTD DILLON BASS LTD HENRY BROTHERS (MAGHERAFELT) LTD BALLYROBERT SERVICE STATION LTD D McGRANAGHAN LTD EUROSTOCK FOODS NI LTD HASTINGS HOTELS GROU GOMERY TRANSPORT LTD PRESTIGE INSURANCE HOLDINGS LTD JOHN McQUILLAN (CONTRACTS) LTD CDE GLOBAL LTD DAVID PRENTICE (CARS) LTD. O&S HOLDINGS LTD O’REILLY’S WHOLESALE LTD SMYTHS TOYS (NI) LTD BEDECK LTD SHELBOURNE MOTORS LTD CFG HOLDINGS LTD SERE LTD S LTD 352 MEDICAL LTD GAFFER (NI) LTD WESTERN BUILDING SYSTEMS LTD McBURNEY REFRIGERATION LTD EDWIN MAY LIMITED MORGAN TRANSPORT & DISTRIBUTION LTD MULTICHANNEL SOLUTIONS FOR ENTERTAINMENT (MSE) T&A KERNOGHAN (HOLDINGS) LTD W.D. IRWIN & SONS LTD WIL THKENNY LTD JOHN MULHOLLAND MOTORS LTD LAGAN TECHNOLOGIES LTD BREEZEMOUNT (UK) LTD BELFAST INTERNATIONAL AIRPORT LTD HUHTAMAKI (LURGAN) LTD T&A KERNOGHAN LTD A.J. POWER LTD K. HUGHES & CO. LTD UNI-TRUNK HOLDINGS LTD T.G. EAKIN LTD KANE GROUP BUI CES LTD KILWAUGHTER HOLDINGS LTD CONCENTRIX EUROPE LTD WINEFLAIR (BELFAST) LTD FRYLITE LTD PRAXIS CARE JMW FARMS LTD UNION STREET (LURGAN) LTD MALLAGHAN (HOLDINGS) LTD AMEY ROADS NI FINANCIAL PLC JAMES F McCUE LTD GERMINAL HOLDINGS LTD LW SURPHLIS ATMOND ENERGY LTD MALLAGHAN ENGINEERING LTD COMPONENT DISTRIBUTORS GROUP LTD NATURAL WORLD PRODUCTS LTD A.& F.A. DUNDEE LTD AGNEW AUTOEXCHANGE LTD WILLIAMS INDUSTRIAL SERVICES LTD McMULLEN FACADES LTD FLEET FINANCIAL LTD JOHNSON BROTHERS (BEL PRINGVALE EPS LTD PREMIER TRANSMISSION LTD THE MOUNT CHARLES GROUP LTD CORPORATE CATERING MANAGEMENT LTD RICHMOND MARKETING (NI) LTD TRACEY BROTHERS LTD KILWAUGHTER CHEMICAL COMPANY LTD WESTBANK BUSINESS PARK LTD KILREA SERVICE STATION LTD CA NG LTD ROBERT CAPPER HOLDINGS LTD MOYLE INTERCONNECTOR LTD MOYLE INTERCONNECTOR (FINANCING) PUBLIC LTD COMPANY BA KITCHEN COMPONENTS LTD SISK HEALTHCARE (UK) LTD TERUMO BCT LTD T. MET LTD HERBEL RESTAURANTS LTD MAURICE FLYNN & SONS LTD UL ENDENT CLINIC LTD PRECISION LIQUIDS LTD RADIUS PLASTICS LTD MAGOWAN TYRES (NI) LTD GEDA CONSTRUCTION LLP JOHN MACKLE (MOY) LTD EXTRASPACE SOLUTIONS (UK) LTD CALVIN KLEIN STORES UK LTD NORTH WEST BOOKMAKERS LTD FIVEWAYS SHOP & SERVICE STATION LTD SE CTION TICKETS (UK) LTD STANLEY MOTOR WORKS (1932) LIMITED NEWBRIDGE ENTERPRISES LTD BANGOR FUELS LTD NOONAN SERVICES GROUP (NI) LTD THE BAIRD GROUP LTD MOYALLEN HOLDINGS LTD MANAGEMENT AND CONSTRUCTION LTD RATHMORE ESTATES EM NEWS DISTRIBUTION (N ALUMINIUM CASTING (UK) LTD SAVAGE & WHITTEN WHOLESALE LTD VAUGHAN ENGINEERING GROUP LTD WHITEMOUNTAIN QUARRIES LTD DONNELLY & TAGGART LIMITED SKEA EGG FARMS LTD KAINOS SOFTWARE LTD ULSTER CARPET MILLS (HOLDINGS) LTD NORTHERN IRELAND RAILWAYS COM OONEEN BY DESIGN LTD MUTUAL ENERGY LTD HERBEL LTD McALEER & RUSHE LTD C.J. UPTON & SONS LTD STRATHROY DAIRY LTD CREAGH CONCRETE PRODUCTS LTD ALMAC PHARMA SERVICES LTD HARLAND AND WOLFF GROUP PLC WOODSIDE HAULAGE (HOLDINGS) LTD TENNENT’S N FIELD (NI) LTD ROADSIDE MOTORS LTD HERON BROS. LTD THOMPSON AERO SEATING LTD DRINKS INC. LTD WARNER CHILCOTT UK LTD HILTON MEATS (COOKSTOWN) LTD WILLIAM KEYS & SONS LTD MORGAN FUEL & LUBES LTD HEATONS (NI) LTD EUROSTOCK FOOD GROUP LTD HALDANE FISHE ALE FOODS (CRAIGAVON) LTD PHOENIX NATURAL GAS LTD REGENCY CARPET MANUFACTURING LTD BAM CONTRACTORS (NI) LTD B.H.C. LTD UNILIN DISTRIBUTION LTD PROPERTY MANAGEMENT SERVICES (NI) LTD UNITED FEEDS LTD PREMIER ELECTRICS LIMITED DESMOND MOTORS LTD B HCARE PACKAGING LTD AGHAREANY LIMITED DIESEL CARD INTERNATIONAL LTD MURDOCK BUILDERS MERCHANTS LTD VETERINARY SURGEONS SUPPLY COMPANY LTD JAMES TOLLAND & COMPANY LTD KEYSTONE HOLDING LTD EVRON FOODS LIMITED WALTER WATSON LIMITED DELTA PRIN GING LTD COPELAND LTD NORTHWAY MUSHROOMS LIMITED N.I.I.B. GROUP LTD DENNISON COMMERCIALS LTD DECORA BLIND SYSTEMS LTD CHARLES TENNANT AND COMPANY (NORTHERN IRELAND) LTD M.J.M. MARINE LTD HARRY CORRY LIMITED BSGL1963 LIMITED BETTERCARE KEYS LTD NGINEERING LTD DOHERTY & GRAY LTD J.K.C. GARAGES (COLERAINE) LTD GE GRID SOLUTIONS (UK) LTD ANDREWS HOLDINGS LTD FELIX O’HARE & COMPANY LTD C & J MEATS LTD HENRY GROUP (NI) LTD JOHN WOODS (LISGLYN) LIMITED FOYLESIDE LIMITED CAMDEN GROUP LIMITED M-B TRUC I) LTD ROMATECH (NI) LTD UNITED WINE MERCHANTS LTD HAMPDEN GROUP LTD T.B.F. THOMPSON (GARVAGH) LTD K.P.L. CONTRACTS LTD RESOURCE (NI) LTD AUTOLINE DIRECT INSURANCE CONSULTANTS LTD BRAKES FOODSERVICE NI LTD JOHN HOGG & CO. LTD BEVERAGE PLASTICS LTD POR T LTD ACHESON HOLDINGS LTD KEYSTONE LINTELS LTD UNITED MOLASSES GB LTD GREINER PACKAGING LTD HARVEY GROUP PLC WESTERN BUILDING SYSTEMS (HLD) LTD BRYSON CHARITABLE GROUP BUDGET ENERGY LTD WORLD TRAVEL CENTRE LTD CALOR GAS NORTHERN IRELAND LTD Y GROUP LTD DENNISON TRAILERS LTD LIBERTY INFORMATION TECHNOLOGY LTD BALLINASKEAGH GRAINS LTD DILLON BASS LTD HENRY BROTHERS (MAGHERAFELT) LTD BALLYROBERT SERVICE STATION LTD D McGRANAGHAN LTD EUROSTOCK FOODS NI LTD HASTINGS HOTELS GROU GOMERY TRANSPORT LTD PRESTIGE INSURANCE HOLDINGS LTD JOHN McQUILLAN (CONTRACTS) LTD CDE GLOBAL LTD DAVID PRENTICE (CARS) LTD. O&S HOLDINGS LTD O’REILLY’S WHOLESALE LTD SMYTHS TOYS (NI) LTD BEDECK LTD SHELBOURNE MOTORS LTD CFG HOLDINGS LTD SERE LTD S LTD 352 MEDICAL LTD GAFFER (NI) LTD WESTERN BUILDING SYSTEMS LTD McBURNEY REFRIGERATION LTD EDWIN MAY LIMITED MORGAN TRANSPORT & DISTRIBUTION LTD MULTICHANNEL SOLUTIONS FOR ENTERTAINMENT (MSE) T&A KERNOGHAN (HOLDINGS) LTD W.D. IRWIN & SONS LTD WIL THKENNY LTD JOHN MULHOLLAND MOTORS LTD LAGAN TECHNOLOGIES LTD BREEZEMOUNT (UK) LTD BELFAST INTERNATIONAL AIRPORT LTD HUHTAMAKI (LURGAN) LTD T&A KERNOGHAN LTD A.J. POWER LTD K. HUGHES & CO. LTD UNI-TRUNK HOLDINGS LTD T.G. EAKIN LTD KANE GROUP BUI CES LTD KILWAUGHTER HOLDINGS LTD CONCENTRIX EUROPE LTD WINEFLAIR (BELFAST) LTD FRYLITE LTD PRAXIS CARE JMW FARMS LTD UNION STREET (LURGAN) LTD MALLAGHAN (HOLDINGS) LTD AMEY ROADS NI FINANCIAL PLC JAMES F McCUE LTD GERMINAL HOLDINGS LTD LW SURPHLIS ATMOND ENERGY LTD MALLAGHAN ENGINEERING LTD COMPONENT DISTRIBUTORS GROUP LTD NATURAL WORLD PRODUCTS LTD A.& F.A. DUNDEE LTD AGNEW AUTOEXCHANGE LTD WILLIAMS INDUSTRIAL SERVICES LTD McMULLEN FACADES LTD FLEET FINANCIAL LTD JOHNSON BROTHERS (BEL PRINGVALE EPS LTD PREMIER TRANSMISSION LTD THE MOUNT CHARLES GROUP LTD CORPORATE CATERING MANAGEMENT LTD RICHMOND MARKETING (NI) LTD TRACEY BROTHERS LTD KILWAUGHTER CHEMICAL COMPANY LTD WESTBANK BUSINESS PARK LTD KILREA SERVICE STATION LTD CA NG LTD ROBERT CAPPER HOLDINGS LTD MOYLE INTERCONNECTOR LTD MOYLE INTERCONNECTOR (FINANCING) PUBLIC LTD COMPANY BA KITCHEN COMPONENTS LTD SISK HEALTHCARE (UK) LTD TERUMO BCT LTD T. MET LTD HERBEL RESTAURANTS LTD MAURICE FLYNN & SONS LTD UL ENDENT CLINIC LTD PRECISION LIQUIDS LTD RADIUS PLASTICS LTD MAGOWAN TYRES (NI) LTD GEDA CONSTRUCTION LLP JOHN MACKLE (MOY) LTD EXTRASPACE SOLUTIONS (UK) LTD CALVIN KLEIN STORES UK LTD NORTH WEST BOOKMAKERS LTD FIVEWAYS SHOP & SERVICE STATION LTD SE CTION TICKETS (UK) LTD STANLEY MOTOR WORKS (1932) LIMITED NEWBRIDGE ENTERPRISES LTD BANGOR FUELS LTD NOONAN SERVICES GROUP (NI) LTD THE BAIRD GROUP LTD MOYALLEN HOLDINGS LTD MANAGEMENT AND CONSTRUCTION LTD RATHMORE ESTATES EM NEWS DISTRIBUTION (N ALUMINIUM CASTING (UK) LTD SAVAGE & WHITTEN WHOLESALE LTD VAUGHAN ENGINEERING GROUP LTD WHITEMOUNTAIN QUARRIES LTD DONNELLY & TAGGART LIMITED SKEA EGG FARMS LTD KAINOS SOFTWARE LTD ULSTER CARPET MILLS (HOLDINGS) LTD NORTHERN IRELAND RAILWAYS COM OONEEN BY DESIGN LTD MUTUAL ENERGY LTD HERBEL LTD McALEER & RUSHE LTD C.J. UPTON & SONS LTD STRATHROY DAIRY LTD CREAGH CONCRETE PRODUCTS LTD ALMAC PHARMA SERVICES LTD HARLAND AND WOLFF GROUP PLC WOODSIDE HAULAGE (HOLDINGS) LTD TENNENT’S N FIELD (NI) LTD ROADSIDE MOTORS LTD HERON BROS. LTD THOMPSON AERO SEATING LTD DRINKS INC. LTD WARNER CHILCOTT UK LTD HILTON MEATS (COOKSTOWN) LTD WILLIAM KEYS & SONS LTD MORGAN FUEL & LUBES LTD HEATONS (NI) LTD EUROSTOCK FOOD GROUP LTD HALDANE FISHE ALE FOODS (CRAIGAVON) LTD PHOENIX NATURAL GAS LTD REGENCY CARPET MANUFACTURING LTD BAM CONTRACTORS (NI) LTD B.H.C. LTD UNILIN DISTRIBUTION LTD PROPERTY MANAGEMENT SERVICES (NI) LTD UNITED FEEDS LTD PREMIER ELECTRICS LIMITED DESMOND MOTORS LTD B HCARE PACKAGING LTD AGHAREANY LIMITED DIESEL CARD INTERNATIONAL LTD MURDOCK BUILDERS MERCHANTS LTD VETERINARY SURGEONS SUPPLY COMPANY LTD JAMES TOLLAND & COMPANY LTD KEYSTONE HOLDING LTD EVRON FOODS LIMITED WALTER WATSON LIMITED DELTA PRIN GING LTD COPELAND LTD NORTHWAY MUSHROOMS LIMITED N.I.I.B. GROUP LTD DENNISON COMMERCIALS LTD DECORA BLIND SYSTEMS LTD CHARLES TENNANT AND COMPANY (NORTHERN IRELAND) LTD M.J.M. MARINE LTD HARRY CORRY LIMITED BSGL1963 LIMITED BETTERCARE KEYS LTD NGINEERING LTD DOHERTY & GRAY LTD J.K.C. GARAGES (COLERAINE) LTD GE GRID SOLUTIONS (UK) LTD ANDREWS HOLDINGS LTD FELIX O’HARE & COMPANY LTD C & J MEATS LTD HENRY GROUP (NI) LTD JOHN WOODS (LISGLYN) LIMITED FOYLESIDE LIMITED CAMDEN GROUP LIMITED M-B TRUC I) LTD ROMATECH (NI) LTD UNITED WINE MERCHANTS LTD HAMPDEN GROUP LTD T.B.F. THOMPSON (GARVAGH) LTD K.P.L. CONTRACTS LTD RESOURCE (NI) LTD AUTOLINE DIRECT INSURANCE CONSULTANTS LTD BRAKES FOODSERVICE NI LTD JOHN HOGG & CO. LTD BEVERAGE PLASTICS LTD POR T LTD ACHESON HOLDINGS LTD KEYSTONE LINTELS LTD UNITED MOLASSES GB LTD GREINER PACKAGING LTD HARVEY GROUP PLC WESTERN BUILDING SYSTEMS (HLD) LTD BRYSON CHARITABLE GROUP BUDGET ENERGY LTD WORLD TRAVEL CENTRE LTD CALOR GAS NORTHERN IRELAND LTD Y GROUP LTD DENNISON TRAILERS LTD LIBERTY INFORMATION TECHNOLOGY LTD BALLINASKEAGH GRAINS LTD DILLON BASS LTD HENRY BROTHERS (MAGHERAFELT) LTD BALLYROBERT SERVICE STATION LTD D McGRANAGHAN LTD EUROSTOCK FOODS NI LTD HASTINGS HOTELS GROU GOMERY TRANSPORT LTD PRESTIGE INSURANCE HOLDINGS LTD JOHN McQUILLAN (CONTRACTS) LTD CDE GLOBAL LTD DAVID PRENTICE (CARS) LTD. O&S HOLDINGS LTD O’REILLY’S WHOLESALE LTD SMYTHS TOYS (NI) LTD BEDECK LTD SHELBOURNE MOTORS LTD CFG HOLDINGS LTD SERE LTD S LTD 352 MEDICAL LTD GAFFER (NI) LTD WESTERN BUILDING SYSTEMS LTD McBURNEY REFRIGERATION LTD EDWIN MAY LIMITED MORGAN TRANSPORT & DISTRIBUTION LTD MULTICHANNEL SOLUTIONS FOR ENTERTAINMENT (MSE) T&A KERNOGHAN (HOLDINGS) LTD W.D. IRWIN & SONS LTD WIL THKENNY LTD JOHN MULHOLLAND MOTORS LTD LAGAN TECHNOLOGIES LTD BREEZEMOUNT (UK) LTD BELFAST INTERNATIONAL AIRPORT LTD HUHTAMAKI (LURGAN) LTD T&A KERNOGHAN LTD A.J. POWER LTD K. HUGHES & CO. LTD UNI-TRUNK HOLDINGS LTD T.G. EAKIN LTD KANE GROUP BUI CES LTD KILWAUGHTER HOLDINGS LTD CONCENTRIX EUROPE LTD WINEFLAIR (BELFAST) LTD FRYLITE LTD PRAXIS CARE JMW FARMS LTD UNION STREET (LURGAN) LTD MALLAGHAN (HOLDINGS) LTD AMEY ROADS NI FINANCIAL PLC JAMES F McCUE LTD GERMINAL HOLDINGS LTD LW SURPHLIS ATMOND ENERGY LTD MALLAGHAN ENGINEERING LTD COMPONENT DISTRIBUTORS GROUP LTD NATURAL WORLD PRODUCTS LTD A.& F.A. DUNDEE LTD AGNEW AUTOEXCHANGE LTD WILLIAMS INDUSTRIAL SERVICES LTD McMULLEN FACADES LTD FLEET FINANCIAL LTD JOHNSON BROTHERS (BEL PRINGVALE EPS LTD PREMIER TRANSMISSION LTD THE MOUNT CHARLES GROUP LTD CORPORATE CATERING MANAGEMENT LTD RICHMOND MARKETING (NI) LTD TRACEY BROTHERS LTD KILWAUGHTER CHEMICAL COMPANY LTD WESTBANK BUSINESS PARK LTD KILREA SERVICE STATION LTD CA NG LTD ROBERT CAPPER HOLDINGS LTD MOYLE INTERCONNECTOR LTD MOYLE INTERCONNECTOR (FINANCING) PUBLIC LTD COMPANY BA KITCHEN COMPONENTS LTD SISK HEALTHCARE (UK) LTD TERUMO BCT LTD T. MET LTD HERBEL RESTAURANTS LTD MAURICE FLYNN & SONS LTD UL ENDENT CLINIC LTD PRECISION LIQUIDS LTD RADIUS PLASTICS LTD MAGOWAN TYRES (NI) LTD GEDA CONSTRUCTION LLP JOHN MACKLE (MOY) LTD EXTRASPACE SOLUTIONS (UK) LTD CALVIN KLEIN STORES UK LTD NORTH WEST BOOKMAKERS LTD FIVEWAYS SHOP & SERVICE STATION LTD SE CTION TICKETS (UK) LTD STANLEY MOTOR WORKS (1932) LIMITED NEWBRIDGE ENTERPRISES LTD BANGOR FUELS LTD NOONAN SERVICES GROUP (NI) LTD THE BAIRD GROUP LTD MOYALLEN HOLDINGS LTD MANAGEMENT AND CONSTRUCTION LTD RATHMORE ESTATES EM NEWS DISTRIBUTION (N ALUMINIUM CASTING (UK) LTD SAVAGE & WHITTEN WHOLESALE LTD VAUGHAN ENGINEERING GROUP LTD WHITEMOUNTAIN QUARRIES LTD DONNELLY & TAGGART LIMITED SKEA EGG FARMS LTD KAINOS SOFTWARE LTD ULSTER CARPET MILLS (HOLDINGS) LTD NORTHERN IRELAND RAILWAYS COM OONEEN BY DESIGN LTD MUTUAL ENERGY LTD HERBEL LTD McALEER & RUSHE LTD C.J. UPTON & SONS LTD STRATHROY DAIRY LTD CREAGH CONCRETE PRODUCTS LTD ALMAC PHARMA SERVICES LTD HARLAND AND WOLFF GROUP PLC SIDE HAULAGE (HOLDINGS) LTD TENNENT’S NI LTD SEVERFIELD (NI) LTD ROADSIDE MOTORS LTD HERON BROS. LTD THOMPSON AERO SEATING LTD DRINKS INC. LTD WARNER CHILCOTT UK LTD HILTON MEATS (COOKSTOWN) LTD WILLIAM KEYS & SONS LTD MORGAN FUEL & LUBES LTD HEATON UROSTOCK FOOD GROUP LTD HALDANE FISHER LTD AVONDALE FOODS (CRAIGAVON) LTD PHOENIX NATURAL GAS LTD REGENCY CARPET MANUFACTURING LTD BAM CONTRACTORS (NI) LTD B.H.C. LTD UNILIN DISTRIBUTION LTD PROPERTY MANAGEMENT SERVICES (NI) LTD UNITED FEEDS LTD PRE RICS LIMITED DESMOND MOTORS LTD BEMIS HEALTHCARE PACKAGING LTD AGHAREANY LIMITED DIESEL CARD INTERNATIONAL LTD MURDOCK BUILDERS MERCHANTS LTD VETERINARY SURGEONS SUPPLY COMPANY LTD JAMES TOLLAND & COMPANY LTD KEYSTONE HOLDING LTD EVRON F D WALTER WATSON LIMITED DELTA PRINT AND PACKAGING LTD COPELAND LTD NORTHWAY MUSHROOMS LIMITED N.I.I.B. GROUP LTD DENNISON COMMERCIALS LTD DECORA BLIND SYSTEMS LTD CHARLES TENNANT AND COMPANY (NORTHERN IRELAND) LTD M.J.M. MARINE LTD HARRY CORRY LIM 963 LIMITED BETTERCARE KEYS LTD BSG CIVIL ENGINEERING LTD DOHERTY & GRAY LTD J.K.C. GARAGES (COLERAINE) LTD GE GRID SOLUTIONS (UK) LTD ANDREWS HOLDINGS LTD FELIX O’HARE & COMPANY LTD C & J MEATS LTD HENRY GROUP (NI) LTD JOHN WOODS (LISGLYN) LIMITED FOYL D CAMDEN GROUP LIMITED M-B TRUCK AND VAN (NI) LTD ROMATECH (NI) LTD UNITED WINE MERCHANTS LTD HAMPDEN GROUP LTD T.B.F. THOMPSON (GARVAGH) LTD K.P.L. CONTRACTS LTD RESOURCE (NI) LTD AUTOLINE DIRECT INSURANCE CONSULTANTS LTD BRAKES FOODSERVICE NI LTD JOHN LTD BEVERAGE PLASTICS LTD PORTVIEW FIT-OUT LTD ACHESON HOLDINGS LTD KEYSTONE LINTELS LTD UNITED MOLASSES GB LTD GREINER PACKAGING LTD HARVEY GROUP PLC WESTERN BUILDING SYSTEMS (HLD) LTD BRYSON CHARITABLE GROUP BUDGET ENERGY LTD WORLD TRAVEL CENTR GAS NORTHERN IRELAND LTD THE McAVOY GROUP LTD DENNISON TRAILERS LTD LIBERTY INFORMATION TECHNOLOGY LTD BALLINASKEAGH GRAINS LTD DILLON BASS LTD HENRY BROTHERS (MAGHERAFELT) LTD BALLYROBERT SERVICE STATION LTD D McGRANAGHAN LTD EUROSTOCK FOODS

Top 200 SMEs

Sponsored by

SUPPORTING BUSINESSES IN NORTHERN IRELAND FOR 20 YEARS

UB 200 1-34 Rank

Company

Account Date

Turnover Previous Turnover (£000) (£000)

Pre-Tax Profit (£000)

Net Worth (£000)

Rathmore Estates

31/03/2015

64,674

54,828

520

5,414

EM News Distribution (NI) Ltd

31/12/2014

64,262

59,821

2,180

4,594

Ryobi Aluminium Casting (UK) Ltd

31/12/2014

64,021

54,913

1,968

22,276

Savage & Whitten Wholesale Ltd

31/12/2014

63,569

58,565

950

4,613

Vaughan Engineering Group Ltd

31/03/2015

62,582

51,454

268

4,241

Whitemountain Quarries Ltd

31/12/2014

61,617

73,108

5,041

40,468

Donnelly & Taggart Ltd

31/10/2014

61,429

73,404

180

3,283

Skea Egg Farms Ltd

31/12/2014

61,029

57,776

2,762

10,873

Kainos Software Ltd

31/03/2015

60,778

42,967

11,837

23,730

Ulster Carpet Mills (Holdings) Ltd

31/03/2015

60,299

61,364

7,103

34,877

Northern Ireland Railways Company Ltd

29/03/2015

59,529

62,793

-2,666

271,862

Cooneen By Design Ltd

28/11/2014

58,233

62,447

7,263

48,907

Mutual Energy Ltd

31/03/2015

57,311

57,721

-4,427

-93,989

Herbel Ltd

31/03/2015

57,037

49,407

-2,566

21,812

McAleer & Rushe Ltd

30/09/2014

56,889

66,265

160

22,425

C.J. Upton & Sons Ltd

31/12/2014

56,878

52,806

467

5,293

Strathroy Dairy Ltd

31/07/2014

56,604

48,519

160

4,333

Creagh Concrete Products Ltd

31/03/2015

56,562

72,450

3,087

7,159

Almac Pharma Services Ltd

30/09/2014

55,265

42,428

3,665

25,927

Harland & Wolff Group PLC

31/12/2014

55,246

32,023

8,662

-3,053

Woodside Haulage (Holdings) Ltd

31/03/2015

54,612

51,362

1,415

18,098

Tennent’s NI Ltd

28/02/2015

53,055

51,349

6,913

17,819

Severfield (NI) Ltd

31/03/2015

52,719

50,742

3,486

21,412

Roadside Motors Ltd

30/09/2014

52,558

47,114

272

5,943

Heron Bros. Ltd

28/02/2015

52,021

47,498

2,020

54,194

Thompson Aero Seating Ltd

31/03/2015

51,868

26,935

10,643

20,253

Drinks Inc. Ltd

31/03/2015

51,166

53,907

1,159

10,663

Warner Chilcott UK Ltd

31/12/2014

50,977

65,578

2,129

73,712

Hilton Meats (Cookstown) Ltd

31/12/2013

50,584

29,749

1,089

2,122

William Keys & Sons Ltd

31/12/2014

50,484

56,139

2,684

15,037

Morgan Fuel & Lubes Ltd

31/03/2015

50,156

31,645

185

-72

Heatons (NI) Ltd

30/04/2015

49,643

47,543

4,368

14,409

Eurostock Food Group Ltd

31/01/2015

49,012

43,948

1,372

6,114

Haldane Fisher Ltd

31/12/2014

48,987

44,494

1,587

5,686

Figures researched and compiled by D&B T: 0845 601 2677

SUPPORTING BUSINESSES IN NORTHERN IRELAND FOR 20 YEARS

UB 200 35-68 Rank

Company

Account Date

Turnover Previous Turnover (£000) (£000)

Pre-Tax Profit (£000)

Net Worth (£000)

Avondale Foods (Craigavon) Ltd

31/03/2015

48,924

41,128

1,366

19,284

Phoenix Natural Gas Ltd

31/12/2014

48,197

54,382

-1,231

119,829

Regency Carpet Manufacturing Ltd

30/06/2014

47,716

46,090

669

5,579

Bam Contractors (NI) Ltd

31/12/2014

47,627

27,295

123

1,555

B.H.C. Ltd

31/03/2015

47,571

44,368

3,431

15,868

Unilin Distribution Ltd

31/12/2014

46,101

41,229

1,215

9,173

Property Management Services (NI) Ltd

31/12/2014

45,111

44,995

103

6,358

United Feeds Ltd

31/03/2015

45,004

52,660

1,495

2,755

Premier Electrics Ltd

30/09/2014

44,983

21,442

7,829

8,344

Desmond Motors Ltd

31/12/2014

44,330

44,960

105

1,830

Bemis Healthcare Packaging Ltd

31/12/2014

44,300

41,418

7,627

6,784

Aghareany Ltd

31/12/2014

43,612

66,907

3,445

14,074

Diesel Card International Ltd

31/03/2015

43,304

32,426

12,262

15,078

Murdock Builders Merchants Ltd

31/12/2014

42,893

37,350

873

-412

Veterinary Surgeons Supply Company Ltd

31/08/2015

41,934

40,098

537

4,719

James Tolland & Company Ltd

31/05/2015

41,847

42,840

610

2,984

Keystone Holding Ltd

31/12/2014

40,407

17,979

2,012

14,730

Evron Foods Ltd

31/08/2014

40,068

37,073

-488

3,836

Walter Watson Ltd

31/12/2014

40,005

30,243

1,059

8,735

Delta Print and Packaging Ltd

30/06/2014

39,889

38,685

5,343

15,506

Copeland Ltd

30/09/2014

39,626

41,042

2,537

14,367

Northway Mushrooms Ltd

31/12/2014

39,539

36,513

N.I.I.B. Group Ltd

31/12/2015

39,495

43,400

38,687

19,498

Dennison Commercials Ltd

31/12/2014

39,419

34,923

1,946

7,491

Decora Blind Systems Ltd

31/12/2014

39,160

32,482

3,405

12,857

Charles Tennent and Company (NI) Ltd

31/12/2014

38,956

38,988

2,346

13,387

M.J.M. Marine Ltd

31/12/2014

38,650

28,576

2,387

7,737

Harry Corry Ltd

28/02/2015

38,643

38,498

-629

4,665

BSGL 1963 Ltd

31/01/2014

38,593

46,286

-5,137

18,133

Bettercare Keys Ltd

31/03/2015

38,245

38,378

988

-4,813

BSG Civil Engineering Ltd

31/12/2014

37,856

28,618

4,373

27,278

Doherty & Gray Ltd

31/03/2015

37,690

34,978

671

2,449

J.K.C. Garages (Coleraine) Ltd

31/12/2014

37,027

28,673

820

5,007

GE Grid Solutions (UK) Ltd

31/12/2014

36,695

42,964

2,311

45,546

Figures researched and compiled by D&B T: 0845 601 2677

APRIL 2016

SUPPORTING BUSINESSES IN NORTHERN IRELAND FOR 20 YEARS

UB 200 69-101 Rank

Company

Account Date

Turnover Previous Turnover (£000) (£000)

Pre-Tax Profit (£000)

Net Worth (£000)

Andrews Holdings Ltd

30/09/2014

36,563

21,747

1,049

6,450

Felix O’Hare & Company Ltd

31/03/2015

36,453

20,667

386

5,376

C&J Meats Ltd

30/11/2014

36,399

36,984

242

118

Henry Group (NI) Ltd

31/03/2015

36,308

50,864

1,062

17,172

John Woods (Lisglyn) Ltd

31/07/2014

36,302

36,451

772

9,467

Foyleside Ltd

31/07/2013

36,203

37,549

2,181

12,788

Camden Group Ltd

31/03/2015

36,114

29,558

857

5,987

M-B Truck and Van (NI) Ltd

31/12/2014

36,096

32,932

110

3,414

Romatech (NI) Ltd

31/03/2015

35,813

24,499

1,086

106

United Wine Merchants Ltd

31/12/2014

35,566

34,922

641

8,578

Hampden Group Ltd

28/02/2015

35,466

34,752

20,207

3,692,438

TBF Thompson (Garvagh) Ltd

31/12/2014

35,406

32,814

531

1,984

K.P.L. Contracts Ltd

30/09/2012

35,304

18,249

-6,452

1,507

Resource (NI) Ltd

30/09/2012

35,295

60,022

2,284

15,721

Autoline Direct Insurance Consultants Ltd

31/12/2014

35,258

30,997

720

1,145

Brakes Foodservice (NI) Ltd

31/12/2014

35,052

45,295

129

-3,426

John Hogg & Co. Ltd

30/04/2015

34,955

34,962

1,791

27,234

Beverage Plastics Ltd

31/12/2014

34,772

31,477

1,853

14,315

Portview Fit-Out Ltd

30/11/2014

34,653

32,839

2,169

Acheson Holdings Ltd

31/12/2015

34,589

1,167

6,570

Keystone Lintels Ltd

31/12/2014

34,573

30,348

2,997

11,900

United Molasses (GB) Ltd

31/07/2014

34,544

38,194

846

1,559

Greiner Packaging Ltd

31/12/2014

34,472

33,295

1,857

10,332

Harvey Group PLC

31/08/2015

34,258

20,408

766

3,460

Western Building Systems (Holdings) Ltd

30/04/2015

34,162

33,192

4,440

15,184

Bryson Charitable Group

31/03/2015

34,130

36,870

-385

11,668

Budget Energy Ltd

30/06/2015

33,997

30,037

3,649

2,314

World Travel Centre Ltd

31/12/2015

33,982

29,391

1,618

Calor Gas Northern Ireland Ltd

31/12/2014

33,862

36,823

4,050

3,296

The McAvoy Group Ltd

31/10/2014

33,638

41,646

489

1,289

Dennison Trailers Ltd

31/12/2014

33,519

23,962

413

5,077

100

Liberty Information Technology Ltd

31/12/2014

33,482

30,231

5,620

11,379

101

Ballinaskeagh Grains Ltd

30/04/2015

33,288

56,381

218

3,476

Figures researched and compiled by D&B T: 0845 601 2677

SUPPORTING BUSINESSES IN NORTHERN IRELAND FOR 20 YEARS

UB 200 102-134 Rank

Company

Account Date

Turnover Previous Turnover (£000) (£000)

Pre-Tax Profit (£000)

Net Worth (£000)

102

Dillon Bass Ltd

30/06/2015

33,253

32,475

298

103

Henry Brothers (Magherafelt) Ltd

31/03/2015

33,019

45,848

979

15,528

104

Ballyrobert Service Station Ltd

31/12/2014

33,009

29,450

337

1,590

105

D McGranaghan Ltd

31/12/2014

32,604

30,727

289

3,299

106

Eurostock Foods (NI) Ltd

31/01/2015

32,599

28,732

848

3,348

107

Hastings Hotels Group Ltd

31/12/2014

32,515

32,057

2,197

32,926

108

Montgomery Transport Ltd

30/09/2014

32,394

31,923

-57

17,088

109

Prestige Insurance Holdings Ltd

31/03/2015

32,366

33,277

-367

-16,302

110

John McQuillan (Contracts) Ltd

31/03/2015

32,350

36,254

1,200

10,122

111

CDE Global Ltd

31/12/2014

32,321

32,159

1,814

8,370

112

David Prentice (Cars) Ltd

31/12/2014

32,292

29,254

879

113

O&S Holdings Ltd

31/12/2014

32,065

27,403

6,058

17,765

114

O’Reilly’s Wholesale Ltd

28/02/2015

32,065

33,211

-125

-1,343

115

Smyths Toys (NI) Ltd

31/12/2014

31,969

29,589

480

-1,589

116

Bedeck Ltd

30/09/2014

31,899

28,935

1,595

6,486

117

Shelbourne Motors Ltd

31/12/2014

31,559

28,281

691

5,112

118

CFG Holdings Ltd

31/03/2015

31,512

29,371

550

119

S.E.R.E. Ltd

31/12/2014

30,941

28,992

691

1,808

120

O&S Doors Ltd

31/12/2014

30,850

26,904

4,951

927

121

352 Medical Ltd

31/03/2015

30,657

40,371

561

4,203

122

Gaffer (NI) Ltd

31/12/2014

30,464

26,605

1,594

8,439

123

Western Building Systems Ltd

30/04/2015

30,443

33,192

3,362

10,133

124

McBurney Refrigeration Ltd

31/12/2014

30,317

30,942

988

8,412

125

Edwin May Ltd

30/09/2014

30,160

25,702

1,507

126

Morgan Transport & Distribution Ltd

31/10/2014

29,886

25,272

535

2,761

127

Multichannel Solutions for Entertainment

31/03/2015

29,868

51,280

-4,586

-1,904

128

T&A Kernoghan (Holdings) Ltd

31/03/2015

29,842

25,517

4,265

129

W.D. Irwin & Sons Ltd

29/03/2015

29,663

32,838

-503

251

130

Wilsons of Rathkenny Ltd

31/12/2014

29,588

29,771

609

8,038

131

John Mulholland Motors Ltd

31/12/2014

29,413

24,502

961

6,428

132

Lagan Technologies Ltd

31/01/2015

29,407

22,182

998

19,931

133

Breezemount (UK) Ltd

30/09/2014

29,404

24,795

1,097

3,437

134

Belfast International Airport Ltd

31/12/2014

29,351

29,169

240

86,701

Figures researched and compiled by D&B T: 0845 601 2677

APRIL 2016

SUPPORTING BUSINESSES IN NORTHERN IRELAND FOR 20 YEARS

UB 200 135-167 Rank

Company

Account Date

Turnover Previous Turnover (£000) (£000)

Pre-Tax Profit (£000)

Net Worth (£000)

135

Huhtamaki (Lurgan) Ltd

31/12/2014

28,982

28,438

3,884

11,787

136

T&A Kernoghan Ltd

31/03/2015

28,909

24,666

506

1,262

137

A.J. Power Ltd

30/06/2014

28,794

24,774

2,088

6,017

138

K. Hughes & Co. Ltd

31/12/2014

28,751

23,916

966

4,012

139

Uni-Truck Holdings Ltd

31/12/2014

27,954

26,342

2,328

21,503

140

T.G. Eakin Ltd

31/03/2015

27,870

29,533

15,808

21,186

141

Kane Group Building Services Ltd

31/03/2015

27,770

15,125

963

1,560

142

Kilwaughter Holdings Ltd

30/04/2015

27,748

25,299

7,233

31,403

143

Concentrix Europe Ltd

30/11/2014

27,684

24,821

2,084

8,856

144

Wineflair (Belfast) Ltd

30/09/2014

27,666

24,934

610

10,583

145

Frylite Ltd

29/03/2015

27,478

30,492

993

8,270

146

Praxis Care

31/03/2015

27,366

27,987

503

8,401

147

JMW Farms Ltd

30/09/2014

27,357

23,384

1,643

6,734

148

Union Street (Lurgan) Ltd

30/04/2015

27,293

12,527

1,292

5,354

149

Mallaghan (Holdings) Ltd

30/09/2014

27,289

30,837

1,644

10,375

150

Amey Roads NI Financial PLC

31/03/2015

27,195

17,012

-180

151

James F. McCue Ltd

30/11/2014

27,191

22,020

645

4,927

152

Germinal Holdings Ltd

30/06/2015

26,959

31,907

1,819

25,392

153

LW Surphlis & Son Ltd

30/06/2015

26,906

29,077

194

1,992

154

Patmond Energy Ltd

30/06/2015

26,881

27,279

1,315

7,158

155

Mallaghan Engineering Ltd

30/09/2014

26,802

30,615

1,533

10,062

156

Component Distributors Group Ltd

31/12/2014

26,759

30,154

2,816

157

Natural World Products Ltd

31/12/2014

26,295

21,944

2,575

18,588

158

A. & F.A. Dundee Ltd

31/08/2014

26,154

25,731

2,851

2,122

159

Agnew Autoexchange Ltd

31/12/2014

26,038

24,553

486

2,519

160

Williams Industrial Services Ltd

31/05/2015

26,001

20,527

676

3,206

161

McMullen Facades Ltd

31/01/2015

25,944

26,472

311

248

162

Fleet Financial Ltd

31/12/2014

25,914

22,006

950

2,722

163

Johnson Brothers (Belfast) Ltd

31/12/2014

25,883

26,661

724

8,441

164

Springvale EPS Ltd

30/06/2015

25,789

23,731

4,597

7,906

165

Premier Transmission Ltd

31/03/2015

25,676

19,123

4,961

61,439

166

The Mount Charles Group Ltd

25/09/2014

25,512

21,862

1,367

4,539

167

Richmond Marketing (NI) Ltd

30/09/2014

25,451

22,909

636

2,141

Figures researched and compiled by D&B T: 0845 601 2677

SUPPORTING BUSINESSES IN NORTHERN IRELAND FOR 20 YEARS

UB 200 168-200 Rank

Company

Account Date

Turnover Previous Turnover (£000) (£000)

Pre-Tax Profit (£000)

Net Worth (£000)

168

Tracey Brothers Ltd

31/03/2015

25,328

17,498

685

10,174

169

Kilwaughter Chemical Company Ltd

30/04/2015

25,080

25,299

6,786

31,725

170

Westbank Business Park Ltd

31/08/2014

25,047

21,779

2,243

8,002

171

Kilrea Service Station Ltd

31/03/2015

24,889

26,155

973

8,582

172

Robert Capper Holdings Ltd

30/06/2014

24,816

27,780

926

7,356

173

Moyle Interconnector Ltd

31/03/2015

24,652

32,478

-1,355

59,452

174

BA Kitchen Components Ltd

31/03/2015

24,619

22,091

2,280

9,586

175

SISK Healthcare (UK) Ltd

31/12/2014

24,484

23,370

1,991

8,090

176

Terumo BCT Ltd

31/03/2015

24,479

27,226

-17

6,658

177

T. Met Ltd

31/12/2014

24,427

24,718

657

17,017

178

Herbel Restaurants Ltd

31/03/2015

24,288

23,535

5,590

20,474

179

Maurice Flynn & Sons Ltd

31/08/2014

24,170

28,094

-329

1,191

180

Ulster Independent Clinic Ltd

30/04/2015

24,123

23,799

1,466

33,121

181

Precision Liquids Ltd

31/07/2014

23,875

25,741

627

1,468

182

Radius Plastics Ltd

31/12/2014

23,697

19,987

1,609

6,189

183

Magowan Tyres (NI) Ltd

30/09/2014

23,490

25,790

1,274

7,276

184

GEDA Construction LLP

31/12/2014

23,419

13,276

3,661

185

John Mackle (Moy) Ltd

31/12/2014

23,267

20,873

825

4,544

186

Extraspace Solutions (UK) Ltd

31/12/2014

23,258

18,796

564

1,526

187

Calvin Klein Stores (UK) Ltd

01/02/2015

23,173

41,562

466

17,863

188

Fiveways Shop & Service Station Ltd

30/04/2015

23,014

22,481

1,681

10,637

189

Seatem Attraction Tickets (UK) Ltd

31/12/2007

22,819

19,263

177

7,920

190

Stanley Motor Works (1932) Ltd

31/12/2014

22,776

18,249

216

1,840

191

Newbridge Enterprises Ltd

31/12/2012

22,579

25,133

-3,983

-6,708

192

Bangor Fuels Ltd

31/10/2014

22,543

N/A

242

-471

193

Noonan Services Group (NI) Ltd

31/12/2014

22,495

10,041

1,034

1,019

194

The Baird Group Ltd

31/12/2014

22,464

19,389

405

8,564

195

Moyallen Holdings Ltd

31/12/2014

21,911

20,682

-602

-2,003

196

Management and Construction Ltd

31/12/2014

21,891

2,038

579

2,386

197

H.M.T. Shipping Ltd

31/03/2015

21,874

20,958

698

2,715

198

Newell Stores Ltd

31/01/2015

21,866

21,026

605

3,787

199

Rahon Enterprises Ltd

31/12/2014

21,829

20,840

1,123

1,422

200

North Down (Belfast) Ltd

31/08/2014

21,803

24,527

429

2,012

This list contains some trading companies of holding companies

Figures researched and compiled by D&B T: 0845 601 2677

APRIL 2016

SUPPORTING BUSINESSES IN NORTHERN IRELAND FOR 20 YEARS

TOP 200 SMEs ANALYSIS

Next 200 show their worth Jonathan Cushley from D&B, who compiled the Next 200 data, analyses how the group considered the engine room of the economy are performing

016 sees the third publication of a complimentary listing to the Ulster Business Top 100. In The Next 200 list we look at those companies with the potential to be recognised in the near future as Ulster Business Top 100 Northern Ireland businesses

Jonathan Cushley

Turnover Sales within the 2016 listing showed a significant turnover increase of 6.3% when compared to the company’s year on year performance. The overall turnover reached £7,186m against a prior year number of £6,737m.

For over 25 years D&B and Ulster Business have been providing statistics on Northern Ireland businesses ranked by turnover. This listing has been prepared to demonstrate the wealth of business talent in Northern Ireland which sits just below the Top 100 sales threshold of £65.6m. The Next 200 has been compiled using the same sources as its big brother – D&B’s Investigate Analytics – and allows the reader to benchmark businesses with confidence. For the purpose of the listing, we have started with the business which would be at

services – these companies would expect to have 2014 & 2015 accounts filed.

Profit Whilst the listing is identified by sales, it is necessary to view other financial indicators as an indicator of success. The 2016 listing posted pre-tax profits of £373.6m. number 101 if we ran a Top 100 listing, the cut off for filing has been set at 21/03/16. Companies eligible for inclusion within the listing would be any Northern Ireland registered company, excluding financial

Net Worth The final measure of a business’s overall financial success utilised when compiling the listing is that of net worth. Net worth is the company’s value to its shareholders and in its simplest form is the Shareholders Funds (Issued capital) + Retained Profits – Intangibles. The value of the 2016 Next 200 companies to their shareholders is currently £5,978m compared to prior year of £5,391m – this represents a net worth growth of 9.8% and shows to a degree the confidence shareholders have in their businesses by retaining profits and reinvesting into the various companies.

Credit Risk For businesses looking at The Next 200 from a credit risk perspective, generally speaking the statistics are positive. A risk measurement allows suppliers to companies ascertain risk of payment default, risk of business failure or

SUPPORTING BUSINESSES IN NORTHERN IRELAND FOR 20 YEARS

TOP 200 SMEs ANALYSIS

simply haw one company benchmarks against another – key measures for any business. In the instance of the current listing, the 200 companies have an average credit score of 65 out of 100, this is identical to the score represented by the businesses which made up the listing last year. This confirms that the majority of cases businesses should be considered of good financial standing – surprisingly no companies within the list have had a credit score removed compared to three in the 2015 list.

Employees The 200 companies employed a total of 47,051 people up from 43,855 in their previous financial year.

COUNTY/REGION

VOLUME OF “200 COMPANIES”

Antrim

Armagh

Belfast

Down

Fermanagh

Derry-Londonderry

Tyrone

Total

200

Geography As should be anticipated Belfast continues to host the majority of companies, the table shows the geographic split of the listed businesses across the counties of Northern Ireland – Belfast being provided with its own classification.

some companies may have been included in the current listing whilst also having parent operations within the Top 100. In the majority of cases adjustments to the listing have been made.

About D&B Reader Notes Financial Information has been gathered using D&B’s Investigate Market Research & Analytics Tool. Both D&B and Ulster Business are aware that due to various group structures

APRIL 2016

D&B provides the information, tools and expertise to help its customer Decide with Confidence. D&B enables customers to have instant access to objective, domestic and global information whenever and wherever they need it. Customers can access data on over 250,000,000 businesses globally.

Business use D&B Risk Management Solutions & Compliance Solutions to manage credit exposure, D&B Sales & marketing Solutions to find profitable customers and business partners and utilise D&B Supplier Management Solutions to assist in managing supplier relationships more efficiently and profitably. More than 90% of the Global 1000 rely on D&B as a trusted partner to enable confident business decisions.

For more information please visit www.dnb.com/uk or e-mail cushleyj@dnb.com

SUPPORTING BUSINESSES IN NORTHERN IRELAND FOR 20 YEARS Barclays is a trading name of Barclays Bank PLC and its subsidiaries. Barclays Bank PLC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (Financial Services Register No. 122702). Registered in England. Registered number is 1026167 with registered office at 1 Churchill Place, London E14 5HP.

TOP 200 SMEs

Time to celebrate the reluctant heroes Many of the companies in Ulster Business’s Next 200 list can be classified as medium-sized. Nigel Smyth, Regional Director of CBI Northern Ireland highlights the importance of this particular group to the economy here

edium-sized businesses (MSBs) are the unsung heroes of the economy having done much of the heavy lifting during the recovery, significantly contributing to jobs and growth across Northern Ireland and the UK. Northern Ireland is heavily dependent on the continued good health of its MSBs (typically employing 50-499 people, equivalent to a turnover of between around £10m and £100m) as they support a quarter of jobs in Northern Ireland’s private sector economy, compared with a UK average of 20% (2013 figures). Many of Northern Ireland’s most innovative MSBs are poised to become UK’s global brands of tomorrow. Ambitious indigenous companies like Lagan Construction, Kainos Plc, Mash Direct, SDC Trailers, Keystone Lintel, CDE Global, Munster Simms, Williams Industrial and Devenish Nutrition are blazing a trail and are helping to rebalance our economy – creating private sector jobs across the province and increasing exports. Punching far above their weight, medium sized businesses across the UK have an impressive track record when it comes to economic growth. Without the additional £59bn fast growth MSBs across the UK generated between 2010 and 2013, the UK would have been in recession over that period. Instead of growing by 2.7%, the economy would have shrunk by 1.3%!

Despite their importance, the contribution of Northern Ireland and UK MSBs in recent years is not widely known – in marked contrast to Germany where the ‘mighty mittelstand’ is championed as the backbone of the economy. This lack of awareness is often mirrored in public policy, with much of the focus being concentrated on the smaller and larger firms despite CBI research indicating that with the right support fast growing MSBs could be worth an additional £20bn to the UK and Northern Ireland economy by 2020. However, while MSBs are often more agile and willing to innovative than larger firms they are often less resilient. Exchange rate movements can be crippling. Growth, while welcome, can also bring new strains – new governance, new systems, new financing challenges. These challenges require careful thinking to overcome and can be helped or hindered by the quality of public policy decisions. The CBI has identified a number of policy issues that must be overcome to allow Northern Ireland’s MSBs to flourish and help drive much needed future growth and jobs. Firstly, skills and access to talent. Companies of all sizes are facing acute skill shortages. The 2015 CBI/Pearson Education and Skills Survey, published in July, reveals that Northern Ireland businesses are reporting major skills shortages – 59% of firms in the province need more highly skilled staff, particularly in the important growth industries such as science and engineering, construction and

manufacturing. The NI Executive must reverse past trends and increase investment in skills. The second issue is the need for world class infrastructure – roads, rail, aviation, broadband. The 2015 CBI/AECOM infrastructure survey reports that 94% of businesses describe quality of infrastructure as a decisive factor when planning future investment and infrastructure provision – and how to finance it – remains central to the economic growth challenge facing the next NI Executive. Thirdly, businesses have expressed their concerns to the CBI about the cumulative impact of recent, additional regulatory burdens. Taken together, the new apprenticeship levy, national living wage and the growing cost of unreformed business rates will hurt the growth of mid-sized firms. CBI research indicates that the cumulative burden will cost businesses around £9bn every year by 2020-21 and around £29 billion over the course of this Parliament. The CBI is throwing its weight behind medium sized businesses. Through our ‘MSBClubs’, established specifically to provide MSBs with tailored advice and networking opportunities including peer to peer learning opportunities, the CBI continues to support businesses across Northern Ireland. MSBs interested in learning more about our dedicated events, where growing businesses can swap their experiences and innovative ideas, can contact us for more details.

Corporate Banking

Barclays’ support gets STATSports off the starting blocks Having an ingenious idea with global potential, high-growth technology company STATSports just needed a banking partner who believed in their vision. STATSports has grown rapidly from its humble origins in Newry, Northern Ireland to become the world-leading provider of GPS player tracking and analysis equipment with offices across Europe and the States. Their unique Viper Pod system monitors the training and in-match performance of athletes across a range of sports, offering software specific to football, basketball, American football, rugby and athletics. It’s a device that has helped measure the condition and optimise the performance of many elite teams, such as Manchester City, Arsenal, Liverpool and Juventus, as well as the England and Ireland rugby teams.

We’ve also worked with colleagues from Barclays Premier Banking to provide personal banking facilities to the founder. The ability to tailor bespoke banking solutions that cover both the business and personal banking requirements is a strong attribute of the bank when it comes to servicing the needs of high-growth entrepreneurs like Mr Clarke. Currently working with 80% of the English Premier League and more than 20 high-profile US sport teams, STATSports is a phenomenal success story. Given Barclays’ global reach we remain well placed to help support the continued growth of the company as it explores growth opportunities in other overseas markets.

“The entrepreneurial spirit of the company is an attribute we have long admired. From the early days it was clear that this company was going to be a success, and that as it grew the banking requirements would change.” Gavin Campbell, Relationship Director Corporate Banking, Barclays

A boost to business performance Barclays first partnered with STATSports back in 2008, when they were in the unenviable position of attempting to get a start-up off the ground just as the recession hit. Despite the poor economic outlook, we had enough confidence in STATSports’ prospects to provide the company with an early stage loan. Since those early days we’ve continued to provide STATSports with core banking facilities and, through our close relationship with Co-founder and CEO Alan Clarke, we’ve gained a thorough understanding of the business, its needs and future plans.

Gavin Campbell Relationship Director T: 033 015 01244

“Barclays provided support for our business in the early days when we were very much in our start-up phase. Since then they have become a trusted partner who we are confident can meet our evolving banking needs and support our future plans.” Alan Clarke, Co-founder and CEO STATSports Technologies

For information on how Barclays can support your business, contact Gavin on 033 015 01244 or email gavin.campbell@barclays.com

Barclays is a trading name of Barclays Bank PLC and its subsidiaries. Barclays Bank PLC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (Financial Services Register No. 122702). Registered in England. Registered number is 1026167 with registered office at 1 Churchill Place, London E14 5HP.

SECURITY

Why outsourcing document storage is important for SMEs can be retrieved easily and quickly should you need it. A range of different delivery options are available including next day, same day and urgent express delivery.

Secure Shredding Our regular shredding service is ideal for dayto-day protection of your sensitive documents, using our secure locked shredding consoles. As per a regular agreed schedule, we will call to your office to collect and replace the bag. You receive all the paperwork you need for compliance including certificate of destruction and waste transfer note. Alternatively, for one-off requirements, our security-checked staff can arrange to collect and shred at our secure facility in Belfast.

David Dunlop

“O

utsourcing document storage is not just for large corporations; SMEs can expose themselves to unnecessary risk by keeping files on their premises too.” That’s the advice from family-run Morgan Document Security, an archiving and document storage firm based in east Belfast. One of the company’s Directors, David Dunlop, said there’s a misconception that only larger organisations, such as health trusts or law firms, need to take extra precaution: “Our customers are a mix of public, private and third sector organisations. We understand that as your business grows, so too does the number of records, notes and files you have about your customers or clients. With that comes extra storage boxes and extra filing cabinets.

Scanning but we can help with a complete range of document management solutions.” David Dunlop says SMEs are often reluctant to outsource their document storage, but says many small businesses don’t realise how exposed they are: “Theft or loss of files are two major risks, yet many companies think these are the sole reasons for outsourcing. We’ve also heard of instances of records being destroyed by disasters such as fire or flooding.” Accredited to ISO 27001 (Information Security Management Standard) and ISO 9001 (Quality Management Standard), Morgan Document Security has a range of services and options which can help you to not only reduce risk, but free up your time, office space and resources. They offer:

Document Storage “As a result, it becomes increasingly difficult to manage your archives, whilst also concentrating on what you do best – running your business. Securely managing, protecting and ensuring vital documents are accessible, whilst also remaining fully compliant, are challenges for all SMEs,

If you simply want to store away documents and clear the clutter from your office space, we can take the hassle out of the job by cataloguing each box and providing you with records of precisely what is held. Each box is barcoded, tracked and traced at every stage in the process, so any item

Whether you have documents in storage you would like scanned and securely returned to you, or an ongoing requirement for paperwork to be scanned and hosted securely with online access, our scanning team have a range of solutions available to you.

Storage for Back-Ups Some organisations carry out their storage back-up diligently, but then leave the disc / tape / drive in the same office, or even let a member of staff take it home. At Morgan Document Security we have secure temperature and humidity controlled steel fireproof vaults in our facility specifically for storing these important back-ups. We can regularly collect, store and re-deliver your back-ups in line with your requirements and back-up schedule. David Dunlop continues: “There are many benefits to outsourcing document management. If you’re an SME and are considering it, give us a call on 028 9073 2333 so we can discuss why we’re the safe and secure choice for your company.”

For more information, visit www.morgandocumentsecurity.com

Flags, firebombs & flashbacks

Enterprising NI & Innovation

ENTERPRISING NI & INNOVATION

The innovation crew

nnovative Northern Ireland companies are making a big impression on the world stage.

to export and the Executive’s Innovation Strategy reinforces the need to support companies across all sectors,” he said.

Stormont’s Enterprise, Trade and Investment Minister Jonathan Bell speaks of innovation being of fundamental importance to the competitiveness of the Northern Ireland economy.

“The latest statistics suggest we have seen a 5% increase in the proportion of our businesses who are innovating and I am determined to see this continue to improve which is why my department is investing in programmes such as Invest NI’s Grant for R&D, Innovation Vouchers and Knowledge Transfer Partnerships.”

“Businesses who innovate are more productive, employ more and are more likely

By Amanda Ferguson

Among the companies making its mark is digital pathology business PathXL based at the Northern Ireland Science Park. This year it was ranked in the top 50 fastest growing technology firms in Ireland by Deloitte for the fourth consecutive year and was the sole recipient of the new Deloitte Research & Development award. Over the last 12 months the company has seen margin growth of 70% as a result of being selected by 21 new customers, representing over 6,000 new users of PathXL software.

“Fiscal 2016 will be PathXL’s most successful year ever, by far. This continued success is the result of our commitment to driving innovation in the digital pathology landscape.” In March a patent was granted for ground-breaking H&E tumor analysis software designed to drive improvements in standardisation and consistency for molecular cancer diagnostics. PathXL’s growth continues is fuelled but its award-winning TissueMark software for automated detection and measurement of tumor burden on H&E images. “Fiscal 2016 will be PathXL’s most successful year ever, by far,” chief executive Des Speed said. Des Speed, PathXL

“This continued success is the result of our

ENTERPRISING NI & INNOVATION

Daniel Loughlin, IRP Commerce

commitment to driving innovation in the digital pathology landscape, and the tireless commitment from our teams to provide true excellence in customer service.” Another innovative business is software development company, IRP Commerce, whose technology has resulted in transactions of more than £1bn for companies in the UK and Ireland since it was set up in 2005. Also based at the Science Park, it helped put Chain Reaction Cycles on the global map and is developing an Artificial Intelligence engine for e-commerce called Deep Agent. It analyses online data from e-commerce sites in order to learn the actions that lead to more sales and profitability. It works on behalf of the e-commerce business to predict and then guide the moves the company needs to make to maximise its online sales. A spokeswoman said there has been significant results and increased yearon-year sales for some businesses, more than 100 per cent in some instances.

APRIL 2016

IRP Commerce founder, Daniel Loughlin said: “Finding a practical use for AI in business can be a challenge. “Our approach directly links Artificial Intelligence to increased online revenues. “DeepAgent AI gives companies a huge advantage over their competition and informs the actions to grow and take market share.” A range of help is available to businesses of all sizes and there is focus on nurturing early stage companies through government assistance such as Invest NI programmes.

“DeepAgent AI gives companies a huge advantage over their competition and informs the actions to grow and take market share.”

Northern Ireland’s academics also have a role to play in innovation through projects such as the Knowledge Transfer Partnership (KTP) at Queen’s University Belfast. KTP manager Lorraine Marks explained that is allows businesses to access the expertise within the university and provides a number of benefits to all involved. “Queen’s are particulary good at managing these relationships,” Ms Marks said. “The programme itself involves a company coming to talk to me with a problem, wanting to grow their business or when they require additional knowledge.” She added: “We submitt proposals to government and recruit young graduates to deliver the project. “Research ia being done at university, the company is making money and there is a job for a graduate.” One of the companies to benefit is See Sense which makes intelligent bicycle lights. >

ENTERPRISING NI & INNOVATION

The intelligent bicycle light from See Sense.

They had developed a new light, collected data and wanted advice from Queen’s analytics department to give them a comercial advantage.

“For improved safety, the device paired with the mobile phone will have GPS location and the capability to send a message to a contact in the event of an accident.

“We currently have a KTP running with See Sense who make smart bicycle lights working with Adele Marshall in the School of Maths and Physics,” Ms Marks said.

“On the security element, the device is aware when you are nearby with your mobile phone and if it registers that the bike has been stolen, other devices have the ability to recognise that a stolen unit has passed by and report its location. The unit will generate information on road surface, light and temperature and potentially air quality.

“The company launched their first light a few years ago, however when developing their next generation model the key requirements were improved safety and security.

“The objective of the KTP is to develop the data collected for commercialisation and use it for smart city initiatives including road repair and maintenance, crime prevention and accident modelling.” Mr Bell acknowledges that innovators “come in all shapes and sizes” from large companies such as bus manufacturer Wrightbus and clinical diagnostic giant Randox to new companies breaking into markets, with assistance from crowdfunding, such as See Sense, beer brewing robots from Brewbot and online ticket and event management solutions from Get Invited. He also notes that innovation is not always digital or technology driven but comes from producing well-designed quality products such as Broighter Gold rapeseed oil, Abernethy butter or Chocolate Manor’s artisan products.

Broighter Gold Rapeseed Oil.

“The Northern Ireland Executive has placed innovation at the heart of its efforts to transform our economy into one that is truly knowledge based and export focused and I am committed to supporting all sectors of our economy in their desire to be truly world class,” he added.

ENTERPRISING NI & INNOVATION

Texthelp creates 25 jobs to drive export sales “This investment is helping to drive substantial growth in the business and help us win new customers and increase sales,” he said, adding that support from Invest NI has helped it grow over the last few years. “Invest NI’s support over many years has been immensely important, helping us to grow and, in particular, to achieve export success around the world.” The agency has offered the company £245,000 of support to help boost its workforce as well as a research and development grant of over £62,000 towards product innovation. Department of Employment and Learning minister Jonathan Bell announced the new jobs on a visit to the Antrim site.

Enterprise, Trade and Investment Minister Jonathan Bell has announced Texthelp is investing in up to 25 additional staff and new product development at their Antrim base. Texthelp provides software solutions to help support people who have literacy difficulties and also those for whom English is not their first language. Pictured with the Minister is Texthelp CEO Mark McCusker.

n Antrim IT company has created 25 new high paying jobs to help it target export markets in the US and Asia. Texthelp plans to grow sales of its literacy and language software products which help support people with learning difficulties and those for whom English is not their first language.

remainder to join the 101 who work at its Antrim base and the 30 stationed in the US. The total salary bill for the new jobs reaches £1m, a figure which works out at an average salary of around £40,000 a year each, although it’s likely some posts will pay more than others.

The new hires will help it break into new markets around the world, a plan on which it has already embarked.

Texthelp has also sold its products and expertise in Europe, South America, South Africa and has recently invested in a new office in Australia to cover the Asia Pacific region.

The company has already filled half of the new positions and is on the lookout for the

Mark McCusker, CEO of Texthelp, said the latest export push will help boost turnover.

APRIL 2016

“Texthelp is a highly innovative technology company that has built its success on investment in research and development and a strong export focus. This year it marks its 20th anniversary and the business is pushing forward to achieve more sales in more markets with more products.” Texthelp’s product portfolio includes its world renowned ‘Read&Write’ software which is seeing steady growth, strengthened by its easy-to-use Google Chrome extension which alone has surpassed four million users in less than two years of being on the market. Other products include the reading software application ‘Fluency Tutor’; ‘Browsealoud’, a digital engagement and inclusion toolbar for websites, as well as ‘Speechstream’, a product sold to international publishers and content providers.

ENTERPRISING NI & INNOVATION

Working together to make local enterprise happen Gordon Gough, Chief Executive of Enterprise Northern Ireland, explains how the local enterprise agency network is working with key economic development stakeholders to help entrepreneurs across Northern Ireland

nterprise Northern Ireland is the representative body for the network of Local Enterprise Agencies across Northern Ireland and as such, is at the heart of a dynamic, high profile network of enterprise support providers. Enterprise Northern Ireland is unique amongst other organisations working in the small business or enterprise development sector as we are dedicated to working with preentrepreneurial start-ups and early stage business start-ups. Enterprise Northern Ireland is committed to encouraging and supporting new business formation and supporting business growth through the delivery of small business support interventions. The Northern Ireland Economic Strategy has outlined the need to rebalance the economy to create jobs, wealth and prosperity. Enterprise Northern Ireland and the Local Enterprise Agency network is at the forefront of promoting an enterprising and entrepreneurial region. Here are just two of the ways that we are supporting businesses across Northern Ireland.

SUPPORTING BUSINESS START-UPS Business start-ups are key drivers in growing the economy in terms of job creation, wealth generation and innovation. A dynamic small business sector is vital to the success and prosperity of the economy by contributing

Gordon Gough

ENTERPRISING NI & INNOVATION

to employment and competitiveness. Small businesses are an important source of employment; they also fulfil local consumer needs and are important elements within the supply chain of larger businesses. Enterprise Northern Ireland is the incumbent contract holder for the Regional Start initiative, the national business startup programme for Northern Ireland supported by Invest NI and local councils. Regional Start provides a range of guidance, support, training and business clinics to develop and grow businesses, and is focused on encouraging aspirant entrepreneurs to produce a business plan as one of the key early steps to starting a business and moving into self-employment. The programme has been hugely successful, primarily derived from its national nature – the same level and quality of provision, support and guidance is offered across Northern Ireland ensuring the delivery of a high quality, co-ordinated programme. Since the Programme’s inception in October 2012, more than 15,000 business advisory meetings have taken place with potential entrepreneurs and over 10,000 high quality business plans were achieved through the network of Local Enterprise Agencies. In addition, there have been over 5,000 jobs promoted and over 100 direct referrals to Invest NI. Emerging business sectors include leisure and personal services; professional services; retail; creative industries; hospitality and tourism. In terms of participants, we have seen a 63% male and 37% female split, with 31-50 year olds most likely to start their own business. Business support initiatives like Regional Start demonstrate the significant contribution that Enterprise Northern Ireland and its network of Local Enterprise Agencies have made in providing focused and innovative advisory and training support to individuals across the region, in order to raise the overall number and quality of business starts.

START UP LOANS FOR SMALL BUSINESSES As I talk to small business owners across Northern Ireland I get a real sense that access to finance remains a key issue. That’s

APRIL 2016

Jayne Taggart, Chief Executive of the Causeway Enterprise Agency, welcomes the Minister for Enterprise, Trade and Industry Jonathan Bell to the ofἀces at Loughanhill, Coleraine. Pictured (l-r) are George Robinson MLA; Karise Hutchinson of the Business School at the Ulster University; Gregory Campbell MP; Adrian McQuillan MLA; Minister Jonathan Bell, Cllr Trevor Clarke; Jayne Taggart; Dr Mark McKinney; and Norman Lynas.

where Enterprise Northern Ireland members can help with our Start-up loans. Startup loans provide mentoring and financial support to start-up businesses which cannot access traditional business finance. The scheme has just passed the £2m mark in terms of lending and the money that has been lent to date represents a significant amount of investment in small businesses at the early stage of their development. Enterprise Northern Ireland Start Up Loans has set in motion the business ideas of hundreds of entrepreneurs here in Northern Ireland enabling them to grow by helping to create profitable businesses and jobs.

at Fermanagh Enterprise has been second to none and has really helped me navigate the complex environment that you are first faced with when starting up a new business.”

Enterprise Northern Ireland start-up loans are unsecured personal loans for the purposes of starting a business. Loans of up to £25,000 are repayable between one to five years at a current fixed interest rate of 6%. In addition, loan recipients receive up to fifteen hours mentoring support from their local enterprise agency.

*Enterprise Northern Ireland is an official Delivery Partner of The Start Up Loans Company. For more information about The Start Up Loans Company visit www.startuploans.co.uk

One successful business which has been in receipt of Start Up Loan funding has been Seriously Juicy – a detox juice manufacturing business. Owner Fiona Lydon said: “The Start Up Loan fund has been vital in providing me with the finance to start my business. The assistance that I also received from Enterprise NI and from our business adviser

“We literally started at the kitchen table in the house, and with the support and encouragement we have received to date, we have now moved to a purpose built facility to help us keep up with the demand.” “We are now selling all over the island of Ireland and in the next few months we will be exporting to the GB market and moving to the exciting next stage of growth.”

Start-up loans also provide access to a range of exclusive offers from various corporate partners. To request an application pack or for further details call the Enterprise Northern Ireland office on 028 7776 3555 or visit www.eniloans.com

Downpatrick 028 4461 6416 business@downbc.co.uk

Armagh 028 3752 5050 info@abcarmagh.com www.abcarmagh.com

Coleraine, BALLYMONEY & MOYLE 028 7035 6318 info@causeway-enterprise.co.uk www.causeway-enterprise.co.uk

Ballymena 028 2565 8616 info@ballymenabusiness.co.uk www.ballymenabusiness.co.uk

Cookstown 028 8676 3660 info@cookstownenterprise.com www.cookstownenterprise.com

Belfast 028 9094 2010 info@eastbelfast.org www.eastbelfast.org

CRAIGAVON 028 3839 6520 info@cido.co.uk www.cido.co.uk

Larne 028 2827 0742 / 028 2826 9973 info@ledcom.org www.ledcom.org www.willowbankbusinesspark.com www.wbpconferencecentre.co.uk

CARRICKFERGUS 028 9336 9528 info@ceal.co.uk www.ceal.co.uk

www.facebook.com/Down-Business-Centre-337781645485/

Providing support for business starts-ups, established businesses and the social economy

Bangor 028 9127 1525 mail@nddo.co.uk www.nddo.co.uk

Omagh 028 8224 9494 info@oecl.co.uk www.omaghenterprise.co.uk

Limavady 028 7776 5655 / 2323 info@roevalleyenterprises.co.uk www.roevalleyenterprises.com

NEWRY 028 3026 7011 info@nmea.net www.nmea.net

Belfast 028 9033 9906 info@ormeaubusinesspark.com www.ormeaubusinesspark.com

Strabane 028 7138 2518 info@seagency.co.uk www.seagency.co.uk

Belfast 028 9074 7470 mailbox@north-city.co.uk www.north-city.co.uk

Belfast 028 9031 1002 hq@ortus.org www.ortus.org

BELFAST 028 9061 0826 info@workwest.co.uk www.workwest.co.uk

ENTERPRISING NI & INNOVATION

The overall winners, SmartBall from St Patricks’s College Banbridge, pictured with Young Enterprise Ambassador Jim Eastwood (Groupon UK & Ireland) and Nicola Wilson, Head of Economic Development for the Armagh City, Banbridge & Craigavon Borough Council.

Young Entrepreneurs on target with football data app SmartBall

group of young football enthusiasts from St Patrick’s College in Banbridge have been named overall winners in the final stage of the Digital Teen programme with their innovative app idea, SmartBall. The app connects to a Bluetooth device inside a football, and feeds back information such as speed and distance, allowing coaches and teachers to analyse useful data. The competition was part of the Digital Teen programme which was launched last year by the Lord Mayor of Armagh

City, Banbridge and Craigavon Borough at Banbridge Academy. Since then over 400 14-18 year old students in nine schools across the Council area have completed the programme, showcasing digital business and the opportunities it provides for young people working in the area.

young people for the digital industry and helping them discover the digital industry as an attractive career path or road to entrepreneurship. During the masterclass, young people were face-to-face with digital industry experts and hands-on with the latest tech in an immersive digital experience.

The Digital Teen programme, funded by Armagh City, Banbridge and Craigavon Borough Council, is delivered by local charity Young Enterprise Northern Ireland and encourages and develops a ‘digital enterprise culture’ in the region by upskilling

The Digital Teen Final event took place on Monday 14 March at the Iveagh Movie Studio in Banbridge, with the winning group from each of the nine schools presenting their final App ideas to a panel of digital experts. While judges Katie

ENTERPRISING NI & INNOVATION

Brown (Create: Innovate: Armagh), Danny Turley (Performa Sports) and Neal Myers (O2) deliberated, Jim Eastwood from The Apprentice shared his business tips with the young entrepreneurs and provided an insight into the digital industry from his experience as VP at Groupon. Katie Brown from Create: Innovate: Armagh, who judged on the day, said: “It was really exciting to be here at the Digital Teen Final with Young Enterprise today. Working with the schools on the programme, it’s great to see the ideas come to life in the final presentations. There were so many brilliant ideas, as a judge it was incredibly hard to choose the winning team. “The programme itself is fantastic as it teaches the young people skills in entrepreneurship, but also couples this with an understanding of the Digital Industry, and the careers within the sector here in Northern Ireland. The programme also encourages skill in leadership, teamwork and presentations, so it’s an all-round programme targeting lots of different areas. My role at the AmmA Centre is to develop the creative industries in Armagh, so it’s exciting for me to work on a programme that is focused on merging entrepreneurship with creative careers, and to see how the young people are engaging with this.” As part of the Digital Teen programme, some students also completed placements in local digital businesses. GCD Technologies, ER

Students from Brownlow Integrated College pictured with (left to right) Elaine McAlinden from the Armagh City, Banbridge & Craigavon Borough Council; Carol Fitzsimons (CEO Young Enterprise); Cllr Paul Greenfield, and Katie Brown from Create: Innovate: Armagh at the AmmA Centre.

Media, Mooney Media Ltd, Iveagh Movie Studios, Linwoods and Leckey all gave students an insight into how their businesses operate. A student from Brownlow Integrated College completed a week work placement at GCD Technologies in Lurgan as part of the programme. They commented: “GCD is a web design company that makes websites for big companies such as Coca-Cola. They also make some apps, and when I was there the crew were working on an app about hotels in Dubai and it was very interesting. When I was on placement I learned a lot about code and how to write in code. I got the chance to work on designing a website and I shadowed different teams including the support team and the design team. During the week, I learned the ins and outs of code and how to design and maintain a website and also got

an insight into the projects GCD are involved with such as Apple and The Telegraph.” Councillor Paul Greenfield of Armagh City, Banbridge and Craigavon, commented: “As part of the Council’s Regeneration and Development Strategy, the digital tech sector is one of the Council’s key growth sectors. We are keen to grow and develop this sector over the next five years. Digital Teen is the perfect programme to address the skills requirements for this sector and a great way to encourage young people to pursue high value careers in the sector and even digital entrepreneurship.” Carol Fitzsimons, Chief Executive with Young Enterprise said: “The digital industry is a key sector for economic growth & this programme showcases the careers possibilities it provides. The impact has been that the number of students with a strong understanding of the digital industry more than doubled, with a 75% increase in young people who believe they are suited to setting up a digital business. The Council should be applauded for taking a strategic approach through this programme and its other economic initiatives to ensure digitally aware employees are available for the jobs being created in the region.”

For more information on how you can inspire a new generation of digital entrepreneurs contact volunteer@yeni.co.uk or call Volunteer Leanne Chapman from O2 helping students with their App design on the iPad during a Digital Teen Masterclass.

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028 9032 7003

HOSPITALITY ANALYSIS

Serving up growth By Richard Ennis, Director of Business and Corporate Banking, First Trust Bank

When we also compare tourism employment as a percentage of total employment here with our Scottish neighbours, this equates to a further 11,000 jobs in the sector. And that is just matching their achievements – why should we stop there? Celebrations like those being served up as part of Northern Ireland’s Year of Food and Drink provide an excellent platform to ensure Northern Ireland’s tourism and hospitality industry reaches its full potential. They not only provide an opportunity to showcase new thinking and innovation, but they are an important vehicle to debate the various challenges facing the sector.

Richard Ennis

he Northern Ireland hospitality sector has a bright future, despite facing a number of challenges. With more top quality hotels and award winning restaurants established, along with a host of coffee shops and bars, the evidence is clear that the industry has been positively transformed in recent years. We’re a region famed for our hospitality and this is being recognised more and more on the world stage through increased visitor number and award wins – most recently Belfast was named the best UK city at the Guardian and Observer Travel Awards. Signs of growth have been positive and the good news is that is there is also huge scope for further industry growth as tourism spend, employment and investment increases. Tourism is currently worth 4.9% of Northern Ireland’s GDP and sustains over 40,000 jobs. The aim is to double tourism’s contribution to the economy by 2020. This means generating an additional 10,000 new jobs and drawing in 4.5 million visitors into Northern Ireland every year. When we consider some recent statistics from the Ulster University Economic Policy Centre, the room for industry growth is clear. When compared to our neighbours, we can see that in terms of tourism spend as a percentage of GVA, the current gap with the Republic of Ireland figures equates to £500m for the local industry.

These include economic challenges brought about by the drift in the sterling/euro exchange rate. That, coupled with the current 20% VAT rate in Northern Ireland compared to 9% in the Republic of Ireland, is no doubt affecting many hotels’ bread and butter business. We would also believe there is still a need for the wider industry to raise its game so we can fully maximise the scale of the opportunity that exists. In particular we face a challenge about spreading industry growth across all parts of Northern Ireland and there needs to be a concerted focus by all concerned on that particular issue. Despite these challenges, the focus should remain on innovation and investment for the future and in our own business, we are clearly seeing a return in confidence and an appetite for investment returning within the sector. This is is particularly visible in Belfast city centre with a number of new developments announced over the last six months – such as the Europa’s planned new sister hotel, Belfast Central, the new Bedford Hotel at the iconic Scottish Mutual Building by Tullymore House Ltd and of course Bullit, the latest hotel planned by Beannchor on Victoria Street to complement the already successful Merchant Hotel. This investment is not unique to the Belfast city centre however, as our First Trust Bank’s recent support for the Bishop’s Gate Hotel in Derry suggests. At First Trust Bank, we are very aware of our responsibilities to support Northern Ireland businesses and to encourage economic growth more generally. It is fair to say that we are very excited about the prospects for the industry and are committed to working closely with our customers and the wider hospitality sector to help realise its potential. Here, a couple of our customers share their views on the sector.

HOSPITALITY ANALYSIS

2015 proved to be another great year for us. We saw The National Grande Café and The Dirty Onion perform strongly in their second year of trading, sixty6 deliver a great first year performance and we took a brave step outside of the Greater Belfast area by establishing a new branch of our Little Wing Pizzeria’s in Enniskillen.

ames Sinton is Finance Director for the Belfast based Beannchor Group. The business has invested over £20m in the hospitality industry in Northern Ireland in recent years including the expansion of The Merchant Hotel, and the opening of several new bars including The National Grande Café, sixty6 and The Dirty Onion. Beannchor’s newest hotel venture Bullitt in Belfast city centre is due to open its doors later this year.

As Finance Director, I am not only responsible for overseeing the day to day financial operations of the group but I also play a role in the delivery of new projects. It is the process of taking a concept from our management team and helping to bring it to life that I enjoy most about my role. I joined Beannchor over five years ago having worked previously at Ulster Bank and KPMG. This commercial and corporate finance experience has proven invaluable for the hospitality industry, not only in growth mode but in periods of consolidation. The development of Bullitt kicked off in the last quarter of 2015 – a very exciting

iaran O’Neill, recently elected President of the Northern Ireland Hotels’ Federation, has over 30 years’ experience in the sector including managing a number of well-known restaurants and hotels across Northern Ireland such as the Fir Trees Hotel in Strabane and the Ramada Da Vinci’s Hotel and The City Hotel in Derry. Now Hotel Operator for the newly opened Bishop’s Gate Hotel in Derry, Ciaran’s previous role as Regional Vice President for Interstate Hotels with responsibility for Northern Ireland and Scotland, stands him in good stead as he moves forward with this new venture. Having just opened the doors to a 30-bedroom boutique hotel in Derry – the Bishop’s Gate Hotel – right in the heart of the City, 2016 has had an action packed start. Officially opened on the 4th March, we were thrilled to welcome the Deputy First Minister Martin McGuinness and other dignitaries to the launch, and have enjoyed welcoming

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project for us which will transform Lagan House situated on Victoria Street in the City Centre. We strongly felt there was scope for a mid-tier hotel offering a unique eat, work, play and sleep experience in Belfast, and so the new business will capitalise on our expertise in ground floor services such as quality food & beverage within a vibrant open space. It will be great to see this vacant property spring back to life. Overall, nearly £6m has been invested into this scheme. Very few companies are able to proceed with a project of this size and scale on their own, so we are very lucky to have many positive funding relationships, including that with First Trust Bank who is supporting us on this project. It’s imperative that our funders have bought in to our vision of the end product, since these types of projects do not offer an automatic income on day one of support. However, it helps when they have knowledge of the sector and understand the value of a proven track record, something which I feel we have shown over the years.

local community. I’m pleased to say that people have really taken to it already, impressed with its regeneration.

local people, traders and tourists in to see how the building has been transformed. This hotel development is the latest project supported by the Inner City Buildings Preservation Trust – a subsidiary of the Inner City Trust – which aims to preserve the unique built heritage of the Walled City. We secured a lease for the iconic Northern Counties Building in Bishop Street which was completed restored and refurbished by the Inner City Trust. Formerly a private members’ club, the hotel is a B1 listed building which had been vacant since 2004, so we have had a lot of interest from the

The Bishop’s Gate Hotel is an important development for the hospitality sector in the north-west. Its opening is a catalyst for further renaissance and promotes social and economic development while safeguarding a historic site. The process of securing the lease, developing the project and acquiring investment was not the most straight forward and involved a number of different partners and bodies including Inner City Trust, the Department for Regional Development, the Department for Social Development, the Department of the Environment and First Trust Bank. Having been a personal customer of the bank for a number of years and holding a business account with them from a previous venture, I knew they were supportive of growing businesses. They ensured our business plans were in place and robust enough to make the project a success, and were an invaluable partner to have during the process.

COMMERCIAL PROPERTY

Ringing the changes, as well as tills, in Northern Ireland retail With over half a dozen major assets sold in the last 12 months, retail commercial property transactions in Northern Ireland could be compared to London buses. So is it just a coincidence, or are there some other factors at play visible to the informed eye? Andrea McIlroy Rose, Partner and UK Head of Retail at Pinsent Masons, explains what is behind the phenomenon

he last few years have been extremely positive for the property market in Northern Ireland and for the second consecutive year, 2015 saw more than £500m worth of property deals transacted. Of this, retail accounts for over half the total investment, and the last 12 months has seen a continued increase in activity with particular focus on the acquisition and disposal of shopping centres and retail parks. But it is not just an increase in sales, it is a different type of sale. The landscape is shifting from the traditional model where prime retail shops and shopping centres were predominantly owned by locally based developers and investors, now being replaced by new national and international players emerging into the province for the first time.

Andrea McIlroy Rose

Previously, Pinsent Masons had spent the last few years after the recession acting for retailers and existing landlords focused on consolidating their assets and carrying out some limited refurbishment rather than major acquisitions or redevelopment. In the last year however the balance of our work has shifted materially and we have

dealt with five new acquisitions and two disposals of retail centres in Northern Ireland all to UK and overseas investors. Centres such as Bloomfield, Bangor, Erneside, Enniskillen, Showgrounds Retail Park, Omagh and Valley Retail Park, Newtownabbey are amongst those centres acquired. The recent anticipated sale of the only two factory outlet centres in Northern Ireland, the Outlet and Junction One saw contracts exchanged just before Easter and the sale is due to complete within the next few months. So who’s buying? In each case the investors are private equity funds or independent real estate asset management specialists. New players and clients such as Tristan Capital, AEW Europe and Cordatus are attracted by a market which previously would have been too small to be of any real interest, and in the case of Tristan they are sufficiently serious about having a presence that they’ve bought a number of large assets in quick succession. In any aspect of the property market, when you see a succession of new entrants you know something must be

underpinning the trend, and retail is no different. So what are the factors at play? The first will come as no surprise to retailers, price. Buyers are attracted by competitive prices fuelled by the continued disposal by receivers and the owners of large loan books such as Cerberus. These owners want to effect quick sales at reasonable prices to purchasers who either have immediate funds available or will have no difficulty putting finance in place. In each case the deals are not conditional upon financing, and whilst the companies often refinance the debt post-acquisition this allows for set completion dates, often very shortly after exchange of contracts and the knowledge that security can be realised within a reasonable period. Common features which we have experienced from these deals and which define the same specialist law firms, agents and accountancy firms supporting them include, short defined due diligence periods, the ability to mobilise large retail teams and the availability of increasingly specialist knowledge of tax, construction and employment law. These new investors are in turn encouraging increased availability of funding and competition between the local banks. This allows investors to target secondary and tertiary locations, and also for the local players in the market to refinance and buy out their loans and finally move forward with their investments.

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Another big attraction is the fact that in the last year the NI Assembly have agreed to reduce the corporation tax rate to 12.5% from 2018 to make the province more competitive in attracting foreign direct investment. As a result of this announcement we are likely to see a continued flow of inward investment which can only help to revamp the retail landscape and encourage the redevelopment of existing retail assets which has stalled in Northern Ireland for a considerable time. Lastly a key factor is potential opportunity for return. One of the positive aspects of this inward investment is that the most targeted assets are often those which have the potential to be substantially upgraded and improved. These were assets that had been neglected for some years and were out of step with centres across the rest of the UK principally due to lack of funding or an incentive to put further funds into an asset

where the value was often considerably less than the debt. The purchases are often done as joint ventures using partners such as Ellandi and Lotus who are experts in asset management and will help realise the value of the investment. More modern centres with good facilities will in turn attract a new pool of retailers to enter the Northern Ireland market for the first time and open stores in the prime retail centres where they have not previously been represented. From a professional perspective it is encouraging to see such vibrancy in the market and 2016 is continuing to see more transactions. However all of us are consumers and I am confident that these sales will lead to an improved shopping experience in many towns across Northern Ireland. The changes are definitely ringing… now for the tills.

in association with

Chocks away! Viscount finalists ready for take-off

ne of the most tightly-fought Aer Lingus Viscount Awards to date has resulted in a place in the finals for three of the most impressive business leaders on these shores. Patricia O’Hagan from Core Systems, Gareth Loye from M&M Contractors and Connaire McGreevy from both CTS Projects and Mourne Mountain Brewery rose to the top of an impressive field in the Business Person of the Year category which had the judges in intense deliberations. The winner of this and the other categories in the awards, which are held in association with Ulster Business, will be revealed at a special lunch at the Institute of Director’s headquarters in London next month. All the finalists will travel to London with Aer Lingus for the awards on a day when the best in business is celebrated at the key connection for the airline’s Belfast base. “Given the sheer amount of business talent here in Northern Ireland, the competition was tough,” Andrea Hunter, Business Development Manager of Aer Lingus NI said. “As expected, we were hugely impressed by the volume and calibre of entrants to this year’s awards which made the panel’s job of short-lisiting very difficult.” Fighting it out for the Best SME award is Kestrel Foods, M&M Contracts and CTS Projects while the gong for new category Best Business Start-up will be fought between Mourne Mountains Brewery and Titanic Creative Management. Allstate Northern Ireland, Capita HR Solutions Ireland and Firstsource Solutions are through to the final for the Employee Champion Award; Exporter of the Year will be awarded to either AJ Power, Sandvik Mobile Crushers & Screens or The Deluxe Group.

At the Viscount Awards judging at the Merchant Hotel in Belfast are (l-r) Roseann Kelly, Catriona Gibson, Gary McDonald, Wendy Austin, Colin Walsh, Richard Sherriff, David Elliott, Jeremy Fitch, and Andrea Hunter.

The Innovator of the Year category has four finalists including Environmental Street Furniture, Hunter Apparel Solutions, Solmatix Renewables and The Lava Group. Meanwhile, the award for Overall Excellence will be fought out between AJ Power, Gilbert-Ash or World Travel Centre/Selective Travel Management. And finally, the award for Outstanding Contribution to the Northern Ireland business world will go to Mukesh Sharma MBE. “As entries go, we couldn’t have asked for better,” David Elliott from Ulster Business said. “Each year we are more and more surprised by the quality and entrepreneurial spirit which these awards reveal and this year was no different.

The judging panel consisted of Andrea Hunter from Aer Lingus, Roseann Kelly from Women in Business, Gary McDonald from The Irish News, Wendy Austin from BBC Inside Business, Catriona Gibson from Arthur Cox, Richard Sherriff from The News Letter, Jeremy Fitch from Invest NI, Colin Walsh from Crescent Capital and David Elliott from Ulster Business. The 2016 Viscount Awards luncheon will be held on Tuesday 24th May at the IoD, 116 Pall Mall, London. Each shortlisted company will be offered one complimentary ticket to the event, which includes a three course meal and return flights with Aer Lingus from George Best Belfast City Airport to London Heathrow. Guests will also be given access to the stateof-the-art Aer Lingus Business Lounge at London Heathrow.

Flags, firebombs & flashbacks

Business Start ups

BUSINESS START UPS

Start up plan to succeed So, you’ve got a great business idea and want to turn it into a reality? How do you go about making the leap? We offer up a handy guide, with the help the Westminster government

Research your market Test your business idea with potential customers to check if there’s real demand for what you’re planning to sell. This lets you find out about any problems and fix them before you’ve wasted too much time, effort and money. Identify potential customers. Talk to them and find out about their needs.

out different prices with different customers in a consistent, realistic way to see what people will really pay. Can you make enough money for a return on your investment? If there are other businesses competing for your market, think about what will make you different. Can you provide something better than what’s already available?

Develop and plan If you can, make a basic version of your product or service (a ‘prototype’). Work out the cheapest and quickest way of making something that lets you find out if you’re meeting a real customer need. Test it with them and get feedback. Find out what they’d be willing to pay for it. Try

Develop and change your idea based on what you’ve found out about your customers’ needs before investing. Deal with any problems you’ve found with your product or service, including the way you’re planning to make and sell it.

BUSINESS START UPS

of your business. This includes potential partners and sources of funding.

Funding When you start a business, there’ll usually be a period when you’re investing lots of time, effort and money before you start making a profit. Before you do this, it’s important to research your market to make sure your customers will really pay for your product or service. Once you’re confident they will, explore sources of funding to help with the costs of starting up your business.

Government schemes You might be able to get help from a government-backed support scheme if you need some initial funding to test and develop your business idea.

Get a bank loan Once you can show that there’s a market for your idea, one option for funding your start-up costs is getting a bank loan. You’ll need to be able to give the bank realistic cash flow forecasts and prove that you’ll be able to pay back the loan with interest. > Go back to your customers and test again Keep doing this until you’re confident that they’ll be willing to pay what you’re asking, and that you’re meeting their needs. If there’s no real demand for your idea, think about changing it completely. Is there another product, service or market that uses your skills and resources in a different way?

Write a business plan A business plan is a good way to sum up the customer need you’re aiming to meet and how your business will meet that need while making a profit. It should clearly show the results of your customer research, and that you’re able to explain how you can turn your idea into a viable business before you invest lots of time and money. Your plan can also be a very helpful tool to convince other people of the value

APRIL 2016

BUSINESS START UPS

The bank might require you to provide security against your loan, like your house or car, in case you don’t repay. You should think carefully about how much risk you’re willing to take on before you get a loan or give any personal guarantees.

Selling shares If you need more investment, you might be able to raise money to fund your growth plan by selling shares in your business. You can do this by getting friends and family to invest. However, if this isn’t enough you can look for sources of ‘equity funding’, including: • business angels (wealthy individuals who invest in start-up businesses) • venture capital from companies who invest large sums of money in businesses that they think will grow quickly (known as ‘private equity’ companies) • crowdfunding (where a large group of people invest money in a business idea, usually via the internet)

• alternative sources of funding like ‘peer-to-peer lending’. Any outside investors will own the company jointly with you and the other founders. They have a say in the running of the company, and are entitled to get a share of the profits, known as ‘dividends’. You should get legal advice before selling shares in your business. Find partners, suppliers and premises Many businesses start with just one person, known as a ‘sole trader’. If you set up as a sole trader you’ll be self-employed, which means you’ll be your own boss. You’ll also be responsible for managing your own time, looking after all of your company’s admin and accounts and taking risks with your own money, particularly if you’re leaving full-time employment. Whether you set up as a sole trader, partnership or limited company, your business

is likely to involve working with more people to develop and sell your idea – including partners, suppliers and distributors.

Set up your business You’ll need to decide which legal structure is right for your business before you register for tax and start trading. It’s important to understand the different risks and benefits before you choose – whether you set up as a sole trader, limited company or partnership affects the amount of financial risk you’re taking on and the way you’ll need to pay tax, and report to HM Revenue and Customs (HMRC), and Companies House for limited companies and some types of partnership.

Employing people If you’ll need extra help or people with specific skills to run your business, you might decide to take on employees.

How to start a business By Connaire McGreevy, Founder and MD of CTS Projects and Mourne Mountains Brewery

irst and foremost you have to have a vision of what you want to achieve and be willing to pull out all the stops to reach your goal. Never forget that the customer is number one and be as flexible as you possibly can to bend to their needs, particularly when starting out.

needed financial support. Not one bank would give me an overdraft, but clear and confident in my belief that I could make the business work, I decided to apply for a credit

Of course you have to think about things like getting finance, your premises, your IT infrastructure and such, but those things are all just the wheels to the vehicle. What makes it drive is you, your vision and your ability to work through every kink on the journey to success. When I started CTS Projects back in 2006, I had just left University and had a real struggle to get funding. I’d won a contract with a housing association worth £40,000 but to activate it I

Connaire McGreevy

card – not an ideal means of funding a business but a risk I was willing to take. Despite my young age and student debt, I managed to get a credit card with a £10,000 limit, just enough to get that project over the line. That got the ball rolling and thanks to a lot of determination and a competitive offering, other lucrative contracts followed and the rest, as they say, is history. CTS now has almost 70 employees and delivers renewable and efficient heating installations, services and heating systems maintenance to 40% – and growing – of the social housing market in Northern Ireland. Then, in January 2015 I started my second business, Mourne Mountains Brewery and while I didn’t have the same struggle for finance, what it did require was the same tenacity and vision that it did to start CTS over 10 years ago.

BUSINESS START UPS

Funders fall for car repair comparison site

Portadown-based car repair comparison site has managed to raise nearly £2m from investors in only 18 months. MyCarneedsA.com has just completed a round of £400,000 funding which adds to the £1.5m raised since the company launched in October 2014. The money has been raised through a combination of corporate and UK private investors, including £500,000 from Northern Ireland private investors from business angel network Halo and from from the NI Co-Fund. Alan Watts, Director of Halo, has high hopes for the firm. “MyCarNeedsA.com is a company which understands the reality that no longer do people go for a “garage down the road’ because they are the cheapest or the closest,” he said. “We are a nation that wants the best deal in the most convenient way and online can be the solution. “In just a short space of time the company has expanded across the UK, opened up new headquarters and acquired thousands of reputable providers. We expect them to be a major player in the automotive sector in the next few years.” MyCarNeedsA.com allows car owners to post the work required on their vehicle online which is then offered to a network of garages. Car owners then sit back and watch the garages bid for their work then select the quote that suits them best. Customers can choose the most suitable

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Managing Director of MyCarNeedsA.com, Scott Hamilton, with Alan Watts, Director of Halo, based at the NI Science Park.

quote based on the cost, services offered or previous customer feedback. MyCarNeedsA.com has already seen over 70,000 car owners visit the site, with over 3,000 automotive service providers signed up to the service. Managing Director of MyCarNeedsA. com, Scott Hamilton, said online comparison sites in other sectors were the inspiration for the business. “It struck me that there were no such sites for consumers to compare trusted alternatives for vehicle repairs, despite the fact that

research shows that car owners are often uncertain about where to find quality services that can still offer great value,” he said. “It’s clear that, up until now, consumers have often been forced to sacrifice quality in their efforts to secure the best deal. Our performance so far, with almost 11,000 jobs per month (a figure which is rising every month), suggests I was right. Almost 40% of customers do not accept the cheapest price. Instead, the quality of service provided along with the transparency of viewing previous customer feedback, allows customers to make a decision based on trust, convenience and price.”

INFORMATION SECURITY

Ward Solutions: promoting a holistic approach to information security By Alan McVey, NI Business Development Manager, Ward Solutions

ver the last few months cybercrime has jumped to the top of the news agenda. Ransomware attacks are becoming more and more common, and businesses are increasingly finding their data, and their customers’ data, under threat. Financial costs to organisations that experience data breaches or service loss are now very significant – in some cases up to £107 per record lost. Boards are beginning to actively question CIOs and CISOs about their risk profile and risk mitigation strategies, and how effective they will be in the event of a security incident. As the threats get more advanced, it becomes ever more difficult for organisations to hire or retain staff with the breadth and depth of skills required to address their total set of information security needs. As a result, most mature organisations have moved to a security programme approach, retaining a narrow base of key security skills in-house and partnering with capable information security providers to augment these skills. Specialist providers can deliver security integration, security operations, investigation and incident response skills at a much more cost effective and higher quality level than could be achieved using an in-house solution. New computing models such as cloud, and new advanced threats and hacking techniques continue to make organisations’ network boundaries more elastic and porous than ever before, and necessitate a new approach to information security. Traditional information security models have been almost entirely prevention based, but recent surveys conclude that an organisation may be compromised for up to 229 days before their information security resources detect that compromise. To minimise threats, organisations now need to move to a much more holistic information security lifecycle. Ward Solution’s innovative information security strategy for our customers is based on providing the appropriate amount of resources into the lifecycle of Identify, Protect, Detect, Respond, Recover. Ward Solutions is the largest information security provider on the island, and has been operating in Northern Ireland for 18 months. With a team of over 65 Information Security professionals offering a wide range of IT security services and solutions to an extensive client base the company has had longstanding

success in the Republic of Ireland, with steady growth of 20% per annum. Ward Solutions’ recent expansion into the Northern Irish market is a key part of the company’s strategy to maintain this growth, and the organisation’s experience in the market to date has been extremely positive, with a number of public and private sector businesses coming on board as clients. The team at Ward Solutions is very excited about the potential offered by this expansion in Northern Ireland. Northern Ireland has developed as a cyber-security hub and an important cog in the global information security wheel. It is also a key market that offers significant opportunities for Ward to fulfil customer needs with world class security services and solutions.

For best practice advice on how to secure your data visit www.wardinfosec.co.uk or call Alan on 0749 666 3221

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PROFILE

Corporate wanderlust Ulster Business catches up with Mukesh Sharma to find out how Selective Travel Management made it into the Next 200 list

elective Travel management started out as a consolidator of flights for major airlines under the Thriftway Travel banner. After a number of years of steady growth, its appetite for acquisitions in 2009 saw a period of exponential growth begin, bringing household names such as McNeill Rigby Travel (which incorporates Menary Travel) into the fold. The enlarged Selective Travel Management was speedily merged with World Travel Centre to create and capitalise on new opportunities. World Travel Market became the travel trade facing arm of the operation while Selective Travel Management focused on corporate and retail. “It’s a complex genealogy, but our commercial story today is simple: we continue to grow in year-on-year success, moving from a turnover in 2012 of £18.6m with 45 employees to current projections for 2016 exceeding £50.0m with over 100 employees,” Mukesh said. Much of that success is due to increased penetration of the Great Britain (GB) market, gained by capitalising on carefully selected, keenly targeted, key sectors such as higher education.

“Initial contracts with several British universities allowed us to build expertise which we enhanced with investment, bespoke training and our uniquely high service ethos,” he said. “Winning a Higher Education Framework Agreement for the university travel marketplace reinforced our strong position and we have recently been re-appointed to this combined framework which now has an estimated budget of around £100m.” The company also supports Northern Ireland corporates – from giant pharmaceuticals to small and medium-sized enterprises – and has recently won another substantial Northern Ireland public contract. Growth has also emerged from the tour operator sector, selling travel packages of flights, accommodation and cruises to travel agents across the UK and Ireland, recently securing a lucrative contract to supply GB-based travel companies.

“Our people are our unique selling point and we field loyal, committed employees, properly resourced and fully trained. Despite our size, we provide personal service with accounts managed by dedicated teams and account managers,” Mukesh said. “We handle the hassle for customers, with 24/7 cover and ‘can-do’ attitudes. We also have the technology which allows us instantly to track people in the event of an incident – such as the recent attacks in Brussels. We will alert their employers, rearrange transport and accommodation and do whatever is needed to keep them safe and ensure employer compliance.”

Those and other wins have made Selective Travel Management one of the leading travel management firms in the UK and Ireland.

Mukesh and the team are kept busy, but that doesn’t mean his ambition is dulled. “We will continue to search for new opportunities across the UK and beyond,” he said. “We’re currently looking at Europe because we have the technology to work in euros as well as in sterling and have employed multi-lingual staff. That naturally means we are able to stretch into new markets from our base Belfast base.”

The effective management of growth and expansion is an issue, although a welcome one.

If the company’s stellar growth of the last few years is anything to go by then that goal will soon be surpassed. Watch this space.

MANGING YOUR BUSINESS TRAVEL

• • • • • • •

Quick, Efficient & Professional Service Attention to Duty of Care 24/7 Support Online Booking Tool, tailored to your company needs Specialist Groups & Conferencing Department Award Winning Service One of the largest Travel Management companies in UK & Ireland

Congratulations to all businesses featured in this year’s “Next 200” listing. We are grateful to our clients for contributing to our growth and success.

FLIGHTS

HOTELS

T. +44 (0) 28 9096 2000 E. corporate@selective-travel.co.uk W. selective-travel.co.uk

CAR HIRE

TRAINS

CONFERENCES

Murray’s Exchange Lower Ground Floor, 1 Linfield Road Belfast, BT12 5DR

VISAS

Nimbler processes needed to win over new talent

By John Moore, Regional Managing Director of Hays Northern Ireland

John Moore

nimble SMEs looking for staff, it is they who could end up winning the war for talent, showing greater flexibility and adaptation to the changing employment environment.

Bigger, more established firms with strong brands, reputations and the resources to invest heavily in recruitment can of course attract larger numbers of applications – but they tend to be too slow in decision making.

The Recruitment & Employment Confederation (REC) recently found that time to fill vacancies has increased by 50% over the past five years to 68 days, with no notable improvement in the quality of hire.

SMEs on the other hand find it harder to attract talent – but will move comparatively more quickly to snap up those key roles and won’t miss out on talented workers who are now abler to pick and choose when and where they want to work.

s recruitment is a key challenge for many firms, larger firms should consider the impact of protracted hiring schedules.

This needs to change as candidates are now expecting employers to make faster choices. With an ever-growing number of more

It is now time for the big companies to adapt their human resources processes

to reflect the changing labour market. It is time for those businesses to bring their time to hire down that of the leaner SMEs in order to compete for the best staff available. For example, employers should look to new technologies such as video interviews to speed up the recruitment process and ultimately save money. With optimism among SMEs growing in the Republic of Ireland, an already tight talent pool in the north will get smaller as candidates migrate to where opportunities lie. For companies in Northern Ireland – large and small – moving quickly and decisively will be key to securing talent in 2016.

For further information about Hays in Northern Ireland log on to www.hays.co.uk/ni/

The benefits of cloud accounting revolutionise the overview you have of your business information.

How Xero changes accounting

Conor Walls

s a busy business owner, you will want the fastest, most efficient way to manage your finances and keep on top of your key business numbers. In 2016, the place to do that is in the cloud, Exchange Accountancy has formed a strategic partnership with Xero, the leading global provider of cloud accounting software. Exchange Accountancy is the leading local proponent of cloud accounting. The firm’s Practice Director Conor Walls, takes us through how moving your accounting to the cloud will

If you’re used to working with a desktop-based accounting system, Xero will be a huge mindset changer for you and your finance team. Xero is cloud-based accounting software, which will allow you to log in from your web browser anywhere you have an internet connection and do all your accounting work online. As all your accounting data is in the cloud, you are no longer restricted to working at your desktop plus you’re always working with the latest version of the software, safe in the knowledge that all your important financial information is stored securely in the cloud. And having your data in the cloud brings a whole raft of benefits to the way you manage the business’ finances.

• Anytime, anywhere access • Automatic bank reconciliation • A clear business dashboard • Cloud file storage • Multi-currency functionality • Complete security • Get paid faster with online invoicing

Working with an experienced business adviser As the first, and to date, only locally based accountancy practice to achieve Xero Gold Partner status, we’ve seen at first-hand how combining cloud accounting with experienced business advisers provides direction and focus to businesses who wish to grow and become more profitable.

You can find out more about Conor and his team’s approach to modern, forward thinking business advice by visiting www.exchangeaccountants.com or call them on 028 9040 7470 or by email at info@exchangeaccountants.com

Flags, firebombs & flashbacks

Branding & Marketing

BRANDING & MARKETING

Self brand assessment through fresh eyes

By John Simpson

ne important question in two parts: how is Northern Ireland perceived (or regarded) by people outside Northern Ireland, including investors, potential entrepreneurs, and valuable skilled employees and how would we like Northern Ireland to be perceived? At an informed guess, the answers to the two parts of that question differ.

Unhappily, the greater the difference, the more that a successful Northern Ireland brand needs to be promoted. Visitors to the island seem to find the imagery of a green and pleasant land reassuring. There is a reasonable argument that the recent successes of the Republic of Ireland can be associated with a positive successful society which has taken some painful economic

medicine. The Irish economy has returned to the top of the European league table as it recovers from the recent banking crash and the economic downturn. For the Republic of Ireland, the branding tells a story of successful economic management supported by the imagery of the land of Saints and Scholars. A combination of an economic agenda applied in a high quality living environment: green and successful.

BRANDING & MARKETING

For obvious reasons, Northern Ireland must now recover from our own disrupted recent history and take steps to catch up and possibly overtake our Irish and Scottish neighbours. Northern Ireland is, today, a better place than it was 20 or even 40 years ago. Living and working in Northern Ireland is much more normal than it was. The repeated news coverage of a society ill at ease with itself did dominate for too long the local, national, and international news. Things have moved on, thankfully. Have conditions improved so that they now demonstrate stability, progress, competitive ability and the best standards of western

APRIL 2016

civilisation in the 21st century? For Northern Ireland to enjoy the benefits of improving living standards, a better quality of the environment, and the attraction of external investors, competence and confidence in a new agenda are necessary components. Have we got there? There is a dangerous difference between the perception of a much more normal society, which is clearly in evidence, and the assurance that not only have the repeated negative images ended but that a modern affluent and well managed society is emerging which can compete, financially and socially, with the most progressive regions of western Europe. People living in Northern Ireland recognise

the gains from better stability and less community tension. That is not to be doubted. BUT, people living in Northern Ireland must also recognise that locally improved conditions alone are not enough to lift the international image of this region. An end to recurring community tensions is an essential preliminary step but the serious quality improvements are then only starting. Simply to take credit because we are now a usually peaceful society is an achievement. However, to outsiders it represents a minimal condition, not a successful regeneration process. Viewed from outside Northern Ireland, the image of instability has faded but the creation of a positive successful dynamic >

BRANDING & MARKETING

image calls for a level of ambition that has not, generally, been appreciated. The peace process has been launched but the building of an internationally successful region must follow. The task now is to recognise that achieving peace and near stability alone is not enough. What, now, can lift the ambitions to more demanding levels and how can they be delivered? This question might be interpreted as a formal challenge to the creation of a Programme for Government to be launched after the forthcoming elections. That certainly is a relevant context. However, taken too narrowly, that interpretation would be important in its own right but would risk omitting to acknowledge that the challenge ‘to lift our game’ applies to all the institutions and players. As the Assembly returns and an Executive is elected, the new programme for Government should be integrated with coherent planning from the business agencies (NI Chamber of Commerce, CBI(NI), IoD and FSB), employee representatives (including NIC ICTU) and community voices (through NICVA). The non-governmental agencies must be challenged to build a much stronger set of ambitions in practical operational proposals that go much further than simply

expecting the Executive to be the sole agent incentivising and financing change. The incoming Executive must be challenged to set real economic and social policy priorities and it will, possibly, continue to be too modest as it supports popular short-term devices. However, the Executive must push the private business sector and its corporate agencies to do more than criticise the Executive from the side-lines. Starting in 2016, there is the opportunity and necessity for a fresh start. To the outside world, the branding for Northern Ireland must be compelling and motivated by success. Perversely, there is an obvious immediate danger. In the next five years, with a refreshed Executive, there is the opportunity for a fresh beginning. This new beginning must draw on evidence of success, growth, innovation, better quality of life, better application of talent and greater ambition for investment in regeneration. The perversity lies in the temptation to brand Northern Ireland simply as an important corporate tax haven. Yes, the arrival of a much lower rate of corporate taxation is a big selling point. But a

careful approach is needed. The change in corporate taxation is a secondary consideration, not the primary outcome.

“The incoming Executive must be challenged to set real economic and social policy priorities. However, the Executive must push the private business sector and its corporate agencies to do more.” Northern Ireland will be a place for large investments because it offers a combination of skills, assets, infrastructure and cost effectiveness that takes it to the top of any international league table for competitive value. Are we sufficiently confident and competent to earn our way to success in a situation where costs and taxes are simply underpinning that success?

BRANDING & MARKETING

PR for sports organisations

The power of place By Geoff Wilson

By Samantha Livingstone, Charter.PR, Rumour Mill PR

ublic relations (PR) are very much an underestimated marketing tool in sports marketing, especially for smaller sports organisations in Northern Ireland. Over the past few years I have been speaking at a number of sports seminars and I am surprised time and time again on the lack of time given to PR by sports organisations and events. Maybe it’s a question of poor understanding of PR, may be it’s a question of not knowing what needs to be done and what constitutes good PR. In this article I will be outlining a number of key learnings that I have obtained during my time in sport: 1. Think about good stories that could be turned into a press release. Why not put a section on your monthly team meetings that covers PR opportunities for the next month. 2. Make sure your press release covers the main points – who, what, where, when, why. Also ensure you have a ‘catchy heading’. 3. Get to know the reporters in your sport. 4. A good branded photo is key. 5. Build up a database of key sports journalists. 6. Don’t forget to think about online PR as well. 7. Put your regular press releases up on your site one day after it appears in the local paper – this keeps your site up to date with good content. 8. Record all the PR coverage obtained so you can review, learn and adopt for the next time. 9. Offer prizes for competitions in your local newspaper.

hat is the importance of place branding? Today, we live in the age of globalisation wherein we are closer to each other more than ever before. With globalisation, the tourism industry has seen a sea of change and has undergone dramatic transformation. Northern Ireland, in particular, has taken massive strides forward and is holding its own – harnessing its potential and showing what it has to offer on a global stage. Today a consumer is ready to loosen their purse strings and splurge on holiday destinations, they wouldn’t have necessarily chosen before. Therefore, it has become imperative for a destination to differentiate itself and communicate its offerings to the consumers in order to become the destination of choice and be frequented by visitors.

PR does work and is a vital element in sport. The key message is to take time to invest in this area.

Discover Ireland, I Love NY, Visit Wales, Tourism Australia, Espana, Incredible India and yoursingapore.com are only some of the most iconic place brands created in recent years. Why so successful? They all understand that a destination brand is about packaging and marketing a set of images to promote a specific location. In addition, they have created a well-articulated place branding strategy that also strengthens a community’s sense of place, because it creates alignment between the language and messages created for and by business, community and visitors. When those three are aligned, there’s true resonance.

Geoff runs his own sports consultancy, working with clients such as

Rumour Mill PR, is a multi-award winning integrated

FIFA across the world. He is also on the board of Tourism Northern

communications agency based in Belfast. For support with

Ireland. You can follow Geoff on twitter @geoffwnjwilson or

your brand strategy please contact the team on 028 9068 2185

connect on Linkedin at www.linkedin.com/in/geoffwnjwilson

or email hello@rumourmillpr.com. www.rumourmillpr.com

APRIL 2016

NEWS

Top Dell Network Security award goes to EOS Systems

Architects to offer their services for charity

or one weekend only, architects in every corner of Northern Ireland will be volunteering their time and expertise to give advice to the public on their building projects, whether large or small, to help raise funds for cancer research. Throughout the ‘ask an architect’ weekend on 16/17th April 2016, over 80 architects from more than 60 architectural practices across Northern Ireland will be offering hour-long consultations in return for a minimum charitable donation of £40.

Peter Brown, director of EOS Systems, Belfast, holds the Dell Network Security award for Best Hospitality/Public Wi-Fi Solution in Ireland.

he EOS Systems team recently received the Dell Network Security award for Best Hospitality/Public WiFi Solution in Ireland. The award comes in recognition of the company’s 2015 Wi-Fi installation project with the Hastings Hotel Group. In the face of tough competition from other Ireland-wide installers, Dell acknowledged that EOS Systems stood out in terms of the innovation and creativity they brought to this challenging project. The Hastings Hotel Group’s previous internet system was difficult to use and costly to operate, and with free Wi-Fi the amenity travellers say they value most when choosing a hotel, the company knew they had to upgrade their Wi-Fi offering quickly, and cost effectively. As a result of EOS System’s work, the hotel chain’s new high-end free Wi-Fi system now delivers over 450 access points across the six hotels in the Hastings Group. What is more, it is proving to be a valuable asset, both for guests, and for company as a whole. Feedback from the Hastings Group indicates that by providing free quality access to the internet, the Wi-Fi solution is helping to attract new staying guests. It is also bringing in new areas of the conference market – a sector which demands robust and flexible internet access. Hastings Group expects the new system to pay for itself in savings alone in only five years.

To find out how EOS Systems can help your hotel or business with future its internet access, call Peter Brown today on 028 9045 9222 or email peter@eossystems.co.uk

Donations will go to the Jill Todd Trust which was set up to commemorate Jill whose life was taken by cancer. Jill was 23 and the daughter of local architect Barrie Todd. The Trust will present all funds raised through ‘ask an architect’ to the Centre of excellence for Cancer Research at Belfast City Hospital via its affiliated charity the Friends of the Cancer Centre. “This is a great opportunity for anyone thinking of renovating or extending their current house, building a new home or undertaking any other construction project. You can get expert advice and support cancer research at the same time,” Martin Hare, President of the Royal Society of Ulster Architects said. “Your professional architect will guide you through your options and answer all your questions. This can range from creative design ideas and exploring building solutions to meet your needs, right through to the practicalities of planning permission, building costs and contracts.” Speaking at the launch of the initiative Mark McEvoy, Commercial Director of Garage Door Systems, said: “This is such a great cause and we are delighted to be supporting the ‘ask an architect’ initiative. You might just want to see what’s possible with the space and budget you have or perhaps you’re further down the line and need some problems solved. This is the weekend to do it.” An online booking system has been set up which allows members of the public to select the architect and the time slot that suits them best. The booking system is live from 1 March 2016 on the Jill Todd Trust website: http://www.jilltoddtrust.com/ask-anarchitect.html on a first come, first served basis. The website will also contain details such as: architectural practices’ CVs and location; what you should consider bringing with you on the day and what scope of advice you are likely to receive. In the meantime follow PLACE, RSUA and the Jill Todd Trust on social media to be kept up to date on the latest developments.

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16/03/2016 12:16

Seizing the moment Y

ou can seize the moment, win an hour or lose a day but time still moves inexorably on, and with it comes change. In Allianz, things are no different and looking forward to the remainder of 2016 and beyond, succession changes have been implemented to ensure continuity of economic health and envisioned leadership direction within the company. Brendan Murphy, Chief Executive Officer of Allianz Ireland, retired on March 31st and was succeeded by Sean McGrath who formerly held the position of Director – Sales and Operations.

Peter Kilcullen, well known and respected within the Northern Ireland insurance landscape and whose tenure with the company extends to thirty-six years, was subsequently appointed to the position of Sales Director for Allianz Ireland whilst simultaneously joining the Board of Management. Peter, who has a wealth of experience within the fields of sales leadership; customer engagement and satisfaction; relationship management and distribution strategy, spoke to Ulster Business about his new role and responsibilities and the strategic approach with which he plans to address both this pivotal transition point in his career and the new era within Allianz.

“The Allianz Group is a global financial services provider with more than 85 million customers in 70 countries worldwide offering a range of services and insurance products across the spectrum for both retail and corporate customers. Globally, Allianz SE has traded for 125 years and is AA rated by Standard & Poor’s, a position which has been supported by our solid business model and strong brand. At a local level we are A+ rated and continue to see clear connections and capability between our “on the ground” technical skills and the ability to draw on global expertise. We are based in Belfast and operate very successfully across the province, by closely collaborating with our strategic broker partners; and aligning our local

PROFILE

contribute approximately 75% of private sector turnover. This is counterbalanced by the presence of several large scale players such as Bombardier, Harland & Wolff and Norbrook. This is then, a business and insurance landscape which often presents diametrically different scale opportunities. Historically, however, this fact has played to Allianz’ strengths in its ability to identify trends and requirements, respond rapidly and source parent company skills when required. Added to this is the legacy of the private/ public sector balance, diverse sources of insurance capacity; a continuing customer desire to trade in a traditional fashion (i.e. F2F) with professional advisers; and ease of shopping around via aggregator sites for retail consumers – all contributing to a competitive melting pot of buyers, suppliers and customer choice.

Peter Kilcullen, Sales Director Allianz

technical expertise and claims paying ability; thereby ensuring peace of mind to consumers and business owners across the spectrum. Looking to the future, although my level of engagement in Northern Ireland will moderate, my commitment to the local market remains unaffected. I am now accountable for business retention; profitable growth; and the strategic alignment of sales and servicing ability to satisfy the future needs of all personal and commercial customers, across all distribution channels on the island of Ireland. A very challenging portfolio but one which I am delighted to embrace.” Peter continues: “Northern Ireland is somewhat unique in the fabric of its business structure in that small firms

APRIL 2016

Here at Allianz, in addition to our more established markets, we actively seek out niches for growth be they in SME or in specific sectors such as hospitality – where there is currently an expansion in the number of hotel rooms. A new growth area for Allianz is in Financial Lines where professional indemnity and cyber risk are to the forefront. The latter has rapidly climbed up the boardroom agenda as more and more companies have become increasingly aware of the potential damage any breach could cause and the remedial action necessary to mitigate this. Cyber risks are still often underestimated in the economy, however when attacks do occur, solid bonds of trust can dissipate at the drop of a hat and the impact of reputational damage can be immense. We all understand that consumer confidence is critical. At the same time we are also witnessing the advent of mega trends such as climate change with all the resultant implications that may bring. On a global basis, Allianz has recently announced that it will integrate the topic of climate protection into all of its business in the future, and will be analysing its investments extensively according to

criteria related to the environment, social issues and corporate governance. This is a mega trend which is set to continue shaping debate with colossal implications for the economic and commercial landscape – all of which we will witness filtering into the local insurance sector. We have now moved into an era of ever tighter regulation and solvency requirements post the recent implementation of Solvency II which centres around quantitative requirements; governance and supervision; and disclosure and transparency. This combines with the impending implementation of The Insurance Act 2015 which is widely viewed as responsible for creating the greatest change to insurance contract law in the past 100 years. In this new era Allianz does and will continue to pride itself on treating its customers fairly at every touchpoint; all supported by its powerful alignment of innovation, people, processes, products and services.” Peter concludes: “Today’s business environment and in particular the insurance environment have a commonality of themes interlaced through them. Capital adequacy, governance, security and sustainability – all are now carved into the insurance landscape and are the underpinning currency for all who wish to be effective participants. At the same time insurance literacy among customers is at an all time high. At Allianz, with an agenda focused on digital capability, technical excellence, growth ambition and client centric experiences we are very confident that we are moving from a secure past to a very stable future.” If it is a truism that a strong predictor of future performance can often be the ability to harness past tradition whilst embracing change, reinventing and innovating then, Allianz is on a well-considered path along with the brightest and the best.

Innov8 Office Interiors are celebrating their tenth year in business this year! The interior design collaborative, formed in 2006, has been taking the market by storm, growing steadily and with success after success, have set their sights even higher for the next 10 years!

The father-and-son duo of Stephen and Stephen began to take the marketplace by storm, with their creative flair and desire to go the extra mile for all of their clients. Business began to increase over the years, as did their team, growing steadily from two people to six in 2010. Innov8’s steady growth began to pick up pace, doubling

turnover twice in as many years and growing their team from six in 2010 to seventeen in 2016. Since their inception in 2006, Innov8 have worked hard to achieve our vision, which is to create perfect, productive work spaces, through superior design and innovation.

Innov8 was formed on 2006 by Stephen Cairns after 20 plus years in the office products sector and a burning aspiration to supply more than paper and pens. From the beginning, it was clear to see that something was missing from the current status quo of commercial offices – carefully considered artistic design. Innov8 began with the idea that commercial spaces could be innovative and creative as well as cost effective. With this outlook in mind, Stephen Cairns Junior joined Innov8, heading up the design element of the business.

“We believe our design has been key to our success and allowed us to establish and build relationships with clients in Northern Ireland, Ireland, United Kingdom, Europe and U.S.A. We don’t design and do, we listen, we learn and we help our clients achieve the best outcome for their needs, aiming to exceed their expectations in any and every way we can. We are proud that we get to work alongside some of the top global businesses. We have established relationships with these companies and are proud that for many we are seen as a friend of their business not just a supplier. As we enter into our tenth year, we are humbled to say that our very first clients are still with us today ten years on!” Stephen Cairns, Innov8 Office Interiors

AWARDS

Business partners at the launch of the Irish News Workplace & Employment Awards (left to right): Laura Cowan, Titanic Belfast; Anna Beggan, Tughans; Professor Deirdre Heenan, Ulster University; Alex Megarry, Phoenix Natural Gas; Karen Patterson, BBC; Dr Stephen Farry, Department of Employment and Learning; Terry Cross, Delta Print & Packaging; Mark Regan, Kingsbridge Private Hospital, and Irish News editor Noel Doran.

Award winner shares positive boost after WEA success

he Irish News Workplace & Employment Awards initiative is celebrating its tenth birthday – and plans a special twist to its lavish presentation night at Titanic Belfast on June 16. The awards, first launched in 2007, seek to unearth those exceptional companies and organisations in the north which are focused not necessarily on profit and loss sheets, but on their people. And this year sees the further evolution of the awards with a new category in Entrepreneurial Spirit, aimed at organisations which have demonstrated an unerring commitment to embed entrepreneurship and encourage their people to take risks to stay ahead of the competition.

key business partners – Tughans Solicitors, Kingsbridge Private Hospital, the Department for Employment & Learning, Phoenix Natural Gas, Ulster University, Delta Print & Packaging and venue partner Titanic Belfast.

the message that it is our people that are our most important asset. These awards clearly highlight the importance of investing in skills for local employers to grow the economy. I wish all those taking part every success.”

Also represented were senior officials from the NI Chamber of Commerce, Chartered Institute of Public Relations, Chartered Institute of Marketing and Business in the Community.

Among the speakers at the launch was Liz O’Hanlon, HR manager at First Derivatives in Newry, which won two categories at last year’s Irish News Workplace & Employment Awards.

The awards have again received ministerial endorsement from the Department for Employment and Learning. Minister Dr Stephen Farry said: “My department has supported this initiative from its inception 10 years ago and I personally have been involved for the last five years.

The formal WEA launch took place at Titanic this week and was attended by guests from a number of business organisations, who were welcomed by Irish News editor Noel Doran.

“I am encouraged to see that it continues to go from strength to strength, and I’m particularly pleased that my Department will be sponsoring the Managing Talent category in this year’s awards.”

Among the guests were representatives of the Workplace & Employment Awards’

He added: “These awards recognise excellence in the workplace and reinforce

She said: “We were overwhelmed at the spike we received in social media and recruitment enquiries as a direct result of winning our two awards in 2015. “The awards recognised a real business leadership and created a feel good factor throughout our business.” The awards take place in Titanic Belfast on Thursday June 16, hosted by the BBC’s Karen Patterson.

For awards information visit www.irishnews.com/wea16

REVIEW

Business

Breakfast

With Gary Stewart, Quay Cargo Services

The column which doesn’t have time for lunch

Some hifalutin business people take a continental breakfast in the dining room of a five star hotel. Others shoot the high finance breeze over an espresso in a craft coffee house run by bearded hipsters and overrun with copies of the Financial Times. Gary Stewart and I, however, shun such niceties in favour of a convenient location and a breakfast which is big enough to put a question mark over the need for lunch. We dined at the Portside Inn on Dargan Road in Belfast Harbour Estate’s northern shore, a hop, skip and a jump from Ulster Business’s current towers and only slightly further from Quay Cargo’s West Bank Road base. It’s only right that a business involved in transporting goods across the world is located in the heart of the docks, positioned to check on its cargo as it heads of to the seven seas. And it’s only natural that we should meet the man in charge of that business in the most logistically convenient location for all of us. So to the Portside we headed for a Monday morning meet so as to blow away the cobwebs of the weekend in style. An easy test of the early morning habits of most business people is to float the idea of an 830 breakfast for and see what reaction they give. Not only did Gary Stewart not baulk at the idea of such an ungodly time, he had already checked into the office by the

time we met and was raring to go. Luckily we managed to secure a prime position in the restaurant and were quickly served, both opting for the poached eggs, toast and bacon, a not inconsiderable combination which hit the spot as a Monday morning awakener. But we didn’t just come for the food, we came to find out more about the man behind Quay Cargo. Born in Larne, Gary was brought up in Antrim and has a long history in the world of shipping having started in the industry shortly after leaving school. Working his way up through the ranks, he set up Quay Cargo in 1995 alongside Robin Lyttle and has followed a very definite vision for the company which the pair set out on day one. “We wanted to make sure we are at the forefront of opening international markets for local exporters and importers while supporting the regional economy,” he said. “The peace process was in place by then and we saw how European markets were opening up to local companies and we wanted to be a part of that growth.” The company has certainly lived up to that ambition, and is now integral to the exporting and importing fortunes of the Northern Ireland economy. As such, Gary is well placed to offer insight into any issue which might threaten that flow of trade, such as the upcoming referendum on the UK’s membership of Europe.

“It’s easy to forget how privileged we are to have such freedom of movement throughout Europe,” he said. “Cargo can leave here on a Friday and be in Paris on a Monday, Milan on a Tuesday and Madrid on a Wednesday. It is no more troublesome than jumping into a truck and driving but if we leave Europe the process will get much more complicated.” He said being a member of the EU is a key reason why Northern Ireland is such an attractive place of overseas investors, one which will get even more attractive with the planned reduction in corporation tax in 2018. “A lot of people are looking very closely at Northern Ireland, particularly as it’s the only sterling zone which has a land border with Europe. Combine that with the devolution of corporation tax in a couple of years and we’ve got an intoxicating mix.” It’s clear Gary is passionate about growing the economy here and about what Quay Cargo has achieved, particularly its partnership with Hapag Lloyd. The company now exports all manner of goods in containers to every corner of the world on behalf of some of the biggest manufacturing companies right down to the very smallest and is an intrinsic cog in the economic machine here. But those wheels don’t sit still for long and it’s quickly time for both us to get back to the office which, through some brilliant logistical planning, doesn’t take long.

David Elliott

Flags, firebombs & flashbacks

Executive Motoring

By Pat Burns