Ulster Business May 2021 by Ulster Business

Contents 08 News The latest news from across the world of Northern Ireland business and beyond

41 Commercial property & construction

77 Motoring

What’s been happening in our city centres?

Pat Burns takes on a hybrid, a fully-electric Mazda and something with a bit more power

16 Cover story

51 Corporate law

86 Photocall

Barclays and Wrightbus on a cleaner and greener banking and business partnership

With a record-setting deal for an office scheme, we also look at M&A activity here

We take a look at what’s been happening across Northern Ireland over the last few weeks

22 In Focus

59 Export focus

94 Travel

John Mulgrew speaks to Sam McMaster of HSL about the future of Zoom within healthcare

We speak to three firms about which nations they’d like to see a new trade deal with

Chloe Brennan lords it up at Killarney’s Cahernane House, and meets her spirit animal

33 Business finance & banking

67 Regional government

96 Technology

Economist John Simpson takes a look at the details within the Dunlop Review

Thinking of a Bluetooth or wi-fi speaker for your home? We test four top models

Splurge or surge? The post-lockdown spend

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MAY 2021

EDITOR’S COMMENTS

It’s time to play our part in the recovery

t’s certainly looking like there are increasingly brighter days ahead for everyone.

The roll-out of our vaccination programme continues apace and we are now seeing the first major significant phase of a loosening of restrictions and reopening, which many hope will lead to a much-needed and significant surge in sales across retail and hospitality in particular. It’s something Emma Deighan takes a look at later in this edition. In this issue we speak to Barclays and Wrightbus about the partnership and joint goal of a greener future. And as an increasing number of people and businesses begin their return to towns and cities, I’ve spent a few hours in and around

Belfast city centre to show just how much work has been going on across some of our major commercial projects – from a 17-storey grade A office to the final phase of a £250m university project. While footfall will get its biggest boost with the return of non-essential retail, closecontact services and outdoors food and drink, it’s still heartening to see how much development is ongoing in and around out cities and large towns – the cranes are still very much up. But when walking past some of the high street brands and stores we’ve lost over the last few months, it’s clear we need a long-term solution and strategy to ensure high occupancy and the right types of both businesses and other organisations to

Publisher Ulster Business c/o Independent News & Media Ltd Belfast Telegraph House 33 Clarendon Road, Clarendon Dock, Belfast BT1 3BG

attract people into our towns and cities. Others are doing it as we speak, from large outdoor areas for dining, to increasing green space, cycling provision and pedestrianised areas. There needs to be investment and cleverthinking in order to preserve, and improve, our cities and towns. We’re unlikely to make it too far this year, so it’s important that if you can, you support the industries here which have suffered most. Re-opening and welcoming customers through the doors can only work if we get out and play our part. ■ John Mulgrew

Editor John Mulgrew Sales executive Sarah-Ann Gamble Sales executive Judith Martin Production manager Irene Fitzsimmons Graphic design Susan McClean, INM Design Studio

Printer W&G Baird Greystone Press, Caulside Drive, Antrim BT41 2RS www.wgbaird.com

www.ulsterbusiness.com

Contact: s.gamble@independentmagazinesni.co.uk j.martin@independentmagazinesni.co.uk Cover photo: Elaine Hill

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Ulster Business Magazine

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MAY 2021

NEWS

Bar supervisor Jamie Devlin from the Thirsty Goat in Belfast pictured in July last year

month IN numbers A

1,000,000

The number of vaccinations Northern Ireland has delivered. The number has since surpassed that key target, as the Department of Health and Social Care continues to work through the age groups.

A first key date in April for the reopening of the economy. That sees outdoor visitor attractions being able to open their doors, and close-contact services, such as hair and beauty.

April 30 is another key date in the diary for Northern Ireland emerging from restrictions. It will see outdoor hospitality allowed to restart and the reopening of retail and gyms.

The last major step in reopening should land on May 24. That will see hospitality being allowed to fully reopen, with indoor dining and drinking, albeit with table ordering.

Hospitality ‘set for bumper summer’

orthern Ireland’s hospitality sector is set for a “bumper summer” while there will also be a wider surge in spending here, it’s been claimed.

is also positive but, he says, it is unlikely consumers will splurge the entirety of those savings they accumulated during lockdown.

With record deposits across some of our major banks, economists here are predicting a strong rise in spending here, as restrictions are eased and many front-facing businesses can now open.

“As the coronavirus restrictions are gradually eased and the economy begins to re-open, I think we will see a relatively strong rise in consumer spending – albeit from a low base – as people return to shops, restaurants and other entertainment venues,” he said.

But while we will see increases, experts say the spending surge will be coming from a low base, and the increase for those in sectors such as pubs and restaurants will “not make up for the losses”.

And Richard Ramsey says “what we must remember is, many people have been spending online during lockdown and that is evident from a shortage in certain items such as garden furniture”.

“It should be a bumper summer for the hospitality sector if it reopens but that’s after having a famine for the last year, it’s not going to make up for the losses, but there will be a splurge in that area,” Richard Ramsey, Ulster Bank chief economist, says.

“There will also be barriers to spending and that will be because of things like price rises arising from supply and demand issues and even Brexit.

“The easing of restrictions, in whatever shape they take, will see a sharp pickup in economic growth and that will come from consumer spending,” he said.

And Danske’s chief economist Conor Lambe

Read the full feature on page 33-36

NEWS

‘Virtual care’ platform rolling out across UK trusts

Northern Ireland healthcare business plans to roll-out its secure ‘virtual care’ Zoom platform to as many as 70 health trusts across the UK over the next couple of years, it can be revealed. In 2018, HSL set up a new business unit in response to client demand, HSL Telehealth, which focuses on engaging with clients digitally to support their existing collaboration and conferencing needs. In an interview with director Sam McMaster, he says the firm is continuing to expand its video-conferencing platform across the UK. He’s working with medical business Hospital Services Limited (HSL) to roll-out an official partnership with Zoom to deliver secure, and high-quality remote video-conferencing for a host of major health organisations, and needs, across the UK and Ireland. The system employs secure and encrypted links. When a user opens Zoom it takes them into the session within the healthcare system, and requires less navigation – making it more accessible and easy to use for those less familiar with video-conferencing.

MAY 2021

“We ensure that the data flowing across is heavily encrypted, secure and private – running on a data centre in London,” he said. Currently, it’s working with two major trusts here – the Northern Health and Social Care Trust and Western Social Health and Social Care Trust. And he says the hope is to roll-out the services across as many as 70 health trusts across the UK over the next two or three years. Read the full interview on page 22-23

NEWS

Quotes OF THE month “Northern Ireland ended the first quarter of 2021 with output still falling, but only just. Northern Ireland though was the only region of the UK not to experience output growth in March. While the rest of the UK has benefited some easing of lockdown restrictions, Northern Ireland still has this activity boost ahead of it.” Richard Ramsey, chief economist with Ulster Bank in Northern Ireland, speaking about the latest report into our economic performance.

Economy set for 4.8% bump this year

N “The success of our vaccination programme is down to the professionalism and dedication of all those across our HSC system, many of whom will have seen first hand the devastation that Covid-19 has brought to families across Northern Ireland.” Health Minister Robin Swann speaking about the successful roll-out of vaccinations across Northern Ireland.

“Employers can strengthen and grow their teams with an apprentice, thereby developing the skills of our people right across Northern Ireland.” Economy Minister Diane Dodds speaking about the launch of Northern Ireland Apprenticeship Week.

orthern Ireland could see a business bump of almost 5% this year as the economy begins its journey back to normality. An overall growth of 4.8% is being predicted for 2021, with that number set to rise to around 5.8% a year later. According to the report from Danske Bank, the coronavirus restrictions in place throughout the first quarter of this year “are likely to lead to a contraction in economic activity in that period”. “However, the fall in coronavirus case numbers and the successful roll-out of the vaccine programme are expected to lead to the gradual easing of the restrictions throughout 2021 with the local economy returning to positive rates of growth from the second quarter onwards. “Economic policy measures are also expected to support people and businesses as the economy begins to recover from the impacts of the pandemic. “Against this backdrop, we have upgraded our forecasts for economic growth in Northern Ireland this year and now expect the local economy to expand by around 4.8% in 2021, with growth of about 5.8% projected for 2022.”

However, the bump in activity follows unprecedented slumps in economic output over the last 12 months, following the impact of the Covid-19 on the Northern Ireland economy and wider global marketplace. The report also predicts continued contraction at the beginning of 2021, due to the restrictions still being in place. Northern Ireland’s overall GVA (gross value added) was estimated to have dropped by around 11% in 2020, according to the latest report. The predicted growth in the economy this year, and next, falls roughly in line with the UK as a whole. Looking towards the jobs market, the report says the full impacts of the pandemic are yet to be revealed in terms of employment here. That’s in part fuelled by the raft of economic support levers in place over the last year, including the Government’s Job Retention Scheme, which comes to an end in September. As a result, the Danske report is forecasting the number of jobs available here will fall by 1.9% this year, while the average unemployment rate will sit around 5%.

NEWS

Administrators assessing development of George Best Hotel By John Mulgrew

he long-awaited George Best Hotel in Belfast is still being assessed as to whether development will continue along with future trading, administrators have said. The hotel on Bedford Street went into administration in April 2020, with Duff & Phelps appointed to deal with it. It’s a long-delayed scheme which is part of the wider Signature Living Group, run by Liverpool developer Lawrence Kenwright. In the latest update from administrators, it says “the development of the hotel has been further delayed due to the national restrictions

MAY 2021

implemented in Northern Ireland from midOctober 2020”. Around £4m was received from investors for the hotel. It had offered investors the chance to “purchase” one or more bedrooms in the hotel. The latest report says the “review of the status of each individual investment is ongoing”. The administrator says it is “continuing to assess” the development of the hotel and the “potential subsequent trading of the hotel”. “The joint administrators are working with local property surveyors, valuation agents and the secured creditor in assessing the costs to complete the development, the potential value

Lawrence Kenwright

of the hotel once complete, whether opened or not, and the value of the hotel incomplete.”

NEWS

‘Real opportunity’ to build public transport back better

here is now a “real opportunity” to build back better for public transport here as Northern Ireland emerges from the Covid-19 pandemic, it’s been claimed.

Translink chief executive Chris Conway was speaking as the organisation marks its 25th anniversary this year, since bringing together Ulsterbus, NI Railways and Metro under the one company in 1996. “Looking ahead, there’s real opportunity to build back better with many exciting transport and technology advancements planned so we look forward to more successful collaborations to make this a region renowned for sustainable transport,” he says. Translink is doing its bit to support a green recovery with the introduction of electric and hydrogen buses to its Metro fleet over the next few years. “Translink has kept Northern Ireland moving and made the region a

Translink’s Chris Conway

more connected, greener and healthier place for everyone over the past 25 years,” Mr Conway said. “We’ve enjoyed huge achievements attracting record-breaking passenger numbers before the Covid-19 pandemic. “It’s our employees who make the difference; they continuously strive to improve our service, delivering the highest standards in safety, comfort, convenience in the cleanest, greenest way possible, to build a more sustainable future for generations to come.”

InterTradeIreland Seedcorn competition unveiled

tart-up businesses from across the sectors will have the chance to showcase their talents with the launch of this year’s InterTradeIreland Seedcorn competition.

Shannon Beattie, GenoME Diagnostics with Connor Sweeney

Now in its 19th year, the Seedcorn Investor Readiness Competition 2021 is also offering chance for firms to win a low-carbon €20,000 cash award. This year’s pot of €300,000 is €20,000 more than the prize fund in recent years. Last year’s winner, Northern Ireland firm GenoME Diagnostics, which is developing a novel blood test to detect an earlier diagnosis of ovarian cancer, secured a €50,000 cash prize which it is using to validate its new product and fast track its use in clinics.

investors can be a challenge and draw heavily on resources at any time,” Connor Sweeney, Seedcorn programme manager, said.

“Securing investment and accessing

“This competition not only gives entrants

access to investors who are actively seeking to back high growth companies, but also opens up a host of learning opportunities through a series of online workshops aimed at helping firms prepare their business plan to the highest possible standard.”

AWARDS

Ciaran McConnell, JP Corry, Noel Mullan, Heron Bros, Ciaran McCallion, Allen & Overy, Stephen Patton, George Best Belfast City Airport, Chris Conway, Translink, Bronagh Luke, SPAR, Peter McVerry, U105, Lisa McIlvenna, Business in the Community, Joe O’Neill, Belfast Harbour, John Mulgrew, Ulster Business, Colm McElroy, Arthur Cox, Joe McDonald, Asda, John Healy, Allstate and Elma Greer, Age Friendly Network

Responsible Business Awards launched for 2021

usinesses across Northern Ireland which go above and beyond to make a difference to society or the environment have a chance to showcase their efforts with the launch of this year’s Responsible Business Awards in Northern Ireland. In a year when every person and company has been impacted by the pandemic, the awards, organised by responsible business network, Business in the Community, is keen to see entries from businesses large and small, and from every sector. The awards, taking place in partnership with JP Corry and SPAR, and in association with Ulster Business and U105, recognise and celebrate firms in Northern Ireland that are taking practical action to address pressing social and environmental issues. The 11 award categories range in theme, from diversity and wellbeing in the workplace, to recognising those who are working for the benefit of the community, through to

MAY 2021

companies who develop products that inspire sustainable lifestyles. This year’s categories include: NI Responsible Company of the Year, sponsored by Asda Age-Friendly Business Award, sponsored by Age-Friendly Network Diversity and Inclusion Award, sponsored by Belfast Harbour Education Partnership Award, sponsored by Allen & Overy Environmental Leadership Award, sponsored by Heron Bros Innovation in Employability Award, sponsored by George Best Belfast City Airport Investing in Your Community Award, sponsored by Arthur Cox Responsible Digital Innovation Award, sponsored by Allstate NI One-to-Watch Award, sponsored by Ciena Responsible Product / Service Award, sponsored by Translink Wellbeing at Work Award, sponsored by Larne Port

Kieran Harding, managing director, Business in the Community, says: “This year has been challenging and we recognise how difficult it has been for everyone. In connecting with businesses across Northern Ireland over the past year, I am so impressed with their commitment to supporting their people, keeping the environment and sustainability at the top of their agenda and really deepening their engagement with communities who’ve needed business support more than ever. “This year’s awards will recognise that it has not been ‘business as usual’ and we’re keen to see entries from the spectrum of Northern Ireland businesses.” Entering the awards is free, and they are even easier to enter this year as the application process has moved online. The deadline for submissions is 5pm on Friday, June 11. Enter now at www.bitcni.org.uk/awards

RECRUITMENT

Hiring intentions on the rise as confidence in recovery begins to show By John Moore, managing director, Hays NI

t didn’t take long for vast swathes of the population to make a beeline for their gyms, hairdressers, shops and pubs when lockdown measures were eased in England in April – with plenty of reports of people who were so excited by their newfound freedom that they visited all of the above on the first day of reopening. With further easing of restrictions now on the cards for Northern Ireland, there is rising hope locally that a return to something close to our previous way of life might soon be possible – and as that general public optimism grows, so too does the confidence of employers who are planning for the rest of this year and beyond. In fact, a survey of more than 4,200 professionals and employers which Hays carried out just before the latest easing indicated that over half of employers across the UK are now actively recruiting, with 67% of them recruiting intermediate level staff, 44% taking on junior staff and just over a third hiring new management talent. While the numbers for graduates, trainees and apprentices were a bit lower, the figures paint a relatively bright picture compared to where we were a year ago. The numbers on the employee side also showed a more positive view, with 40% of the professionals we spoke to saying they were confident about the UK’s economic recovery, compared to just 20% when we did a similar survey in November. Those surveyed in the South East of England (44%) were more upbeat than those in Northern Ireland (32%) and other regions and while this shows we’re maybe a bit more cautious about the future here – perhaps understandably so – it also demonstrates how confidence can increase quickly. Overall optimism about the employment outlook in the UK also doubled, from 19% last November to 38% in the recent survey,

which is also reflected in the fact the 30% of professionals surveyed said they expect to move jobs in the next three to six months. So, what should we read into this for the rest of 2021? Are we going to see the recruitment market moving back to where it was in early 2020? Positively, we are seeing signs of that rising optimism in the high demand for roles in certain sectors, including engineering, technology, life science, construction and even the public sector.

that need to be delivered following delays caused by the pandemic. Some of the most in demand roles are multi-skilled maintenance engineers, production shift managers and automation engineers. These trends bode well for the overall employment picture, but they also tell us that post pandemic we’re going to see just as much competition for people with those highly prized skills as we experienced before the first lockdown.

The pandemic has led to greater reliance on technology and this trend continues to fuel a sharp increase in demand for roles across the tech sector, such as cyber-security, cloud solutions, data science, DevOps, software development and change management.

So, my advice to employers who are intending to start hiring new staff in the coming months, is to develop a competitive recruitment strategy. We know from talking to candidates that today’s job seeker is very different to even six months ago.

In construction, there’s demand for skills to support civil led projects and roles including site managers and quantity surveyors are currently highly sought after.

Employers need to appreciate how the pandemic has changed job seekers’ priorities and refresh their hiring strategy accordingly. Doing this will help them draw in the talent they need to put their organisation in position to grow and take advantage of opportunities as the economic recovery gathers pace. ■

Within engineering, we’re seeing an increase for a broad range of skills to support projects

TITLE

COVER STORY

Driving the relationship forward to a zero emissions future Barclays has been at the heart of the Northern Ireland economy for over three decades and it’s been working with a manufacturing stalwart – the Bamford family – for longer still. Ulster Business speaks to Graeme MacLaughlin, relationship director for Barclays in Northern Ireland, and Jo Bamford, chairman of Wrightbus, about their joint future in a green economy, and continuing to grow their expertise and strengthening their relationship

“W

e’ve been banking with Barclays for 50 years,’ Jo Bamford, chairman of Wrightbus tells Ulster Business. Barclays has been a key banking partner for Jo Bamford and his family’s businesses across the generations, and this has recently extended into Northern Ireland following the business development activities of the local team, which recognised the strength and potential of the

underlying business and ESG credentials of Jo’s long-term strategy for the future.

micro to SMEs and right up to those boasting a turnover in excess of nine figures.

And it’s had both an eye on growing its local expertise, complemented by its wider UK network, while helping drive change towards the global green recovery.

It’s been at the heart of the economy during that time, and has recently further bolstered its multi-generational relationship with Jo Bamford and his family – founders of the international manufacturing giant JCB.

Barclays has spent the last three decades building its presence across the corporate business space here – assisting firms from the

Jo is now chairman of Wrightbus, and founder of hydrogen firm Ryse. His company bought

COVER STORY

team have been at the centre of the Bamford family journey for decades, forging a key personal banking relationship. “As a family we have been banking with Barclays for about 50 years,” Jo Bamford says. “We have a good long-term relationship with them, and they offer all of the right banking services we need. “We have relationships with people and those last a long time. It’s a very good relationship, and they are good people.” That relationship and reach is key to both Jo and Barclays as a whole – encompassing its ‘One Barclays’ philosophy. “There is the wider Barclays family here, and we aim to offer solutions, for clients, working with colleagues across the Barclays footprint,” Graeme says. “If there are relationships to develop or expand, having people locally on the ground to work with the management team here and their advisors, has been key for everyone.

Graeme MacLaughlin, relationship director for Barclays in Northern Ireland and Wrightbus chief executive, Buta Atwal

the Ballymena bus-maker out of administration in 2019 – taking the reins, and driving it towards an electric and hydrogen future. At the core of assisting in the latest business venture is Graeme MacLaughlin. He’s relationship director for Barclays in Northern Ireland, and the man tasked with looking after some of the bank’s largest private sector clients right across the region. “My role is to manage large corporate relationships, both from a business development perspective, but also those from an existing portfolio,” Graeme says. He’s been working in banking throughout his career, and with Barclays for 15 years, having previously worked in England. Graeme and the rest of the wider Barclays

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And that extended relationship with Jo Bamford’s acquisition of Wrightbus in 2019 – which is now headed by chief executive officer, Buta Atwal – came about through Barclays’ own relationships and having an ear to the ground regarding the Ballymena-based busmaker. “We had dialogue with Jo’s professional advisors and were aware there were opportunities coming as a result of the Wrightbus administration,” Graeme says. “It was clear there was a good quality underlying business, and with developments in renewables and other technologies, we could see there was an opportunity. “It was clear Jo needed a strong banking relationship, as well as someone with great local knowledge of the arena in which the business was operating in. We were able to offer a wide range of products and opportunities that an expanding business like Wrightbus needed.”

“It’s about being able to throw the umbrella over everything. It’s about having a seamless platform across the group.”

Jo said: “Barclays is a very pro-active company to work with – particularly in Northern Ireland – and they have provided us with the assistance in finance and product knowledge we needed to help grow our business.

Led by Adrian Doran, Barclays’ business in Northern Ireland has grown from its corporate banking roots to a full-service financial operation with a branch network.

And since the deal, that’s meant Barclays being at the heart of the Wrightbus journey. That includes access to key trade finance products, such as bonds, guarantees and indemnities.

“We have typically been known as players in the large corporate banking segment – firms with turnover of £50m plus. But over time, and particularly over the last few years, we have also focused on the wider corporate and business banking space. That includes startups right up to companies with over £1bn in revenues.

It also included supporting Wrightbus with advance payment guarantees for its recent major deal with Translink for a host of zeroemission buses – another client of Barclays.

“The key for us is also our sector specialism. We work very closely with companies in sectors such as manufacturing and energy, but also a range of others including technology, healthcare, and professional services. We try and differentiate in that way – bringing sector-specific knowledge, bringing clients together and really understanding what the opportunities are.”

Barclays remains the key banking partner for the bus-maker, everything from the general day-to-day – such as salaries and supplier payments – to the various tools and products available to help finance trade. The bank is also well-versed in the future. And that future is green. “We are very focused on helping clients with the challenging task of delivering their own green aspirations,” Graeme says. “But also, breaking down >

COVER STORY

some of the barriers around financing and solutions which they may need to access.” And for Jo, while during the Covid crisis he’s been creating a stable bedrock for the company, he is also eyeing its long-term future in becoming a green bus business. “We took over a bus manufacturing business in November 2019 and then Covid hit,” Jo says. “But we are transitioning to zero-emission buses and there has been the exciting news that we have now received government funding to start driving change, and driving zero-emission buses. “There are a lot of plus points. And by the beginning of next year we should have a full line-up of zero-emission buses, single and double-decker, batteries and hydrogen.” While it’s still producing diesel buses amid current market demands, Wrightbus is moving towards becoming a fully zero-emissions business in the near future. “That will really change where the business moves forward – we will then become a zeroemissions firm,” he says. Barclays has developed its own interests and product base around how it can assist clients in moving towards a green future – whether that’s transport, manufacturing, or its own carbon footprint. “We are helping our client base on their journey towards reducing their carbon footprints,” Graeme says. “It’s a commitment on us as a major financial institution to signpost that and deliver it.” And like others, Barclays has played a key role in assisting in the fightback against Covid – supporting clients through a host of

Graeme MacLaughlin and Buta Atwal

The key green credentials In March 2020, Barclays announced its ambition to be a net zero bank by 2050 and a commitment to align its financing portfolios to the goals of the Paris Climate Agreement. Barclays is committed to playing a leading role in tackling climate change and has committed to specific goals to help accelerate the transition to a low carbon economy, including: - A green financing target of £100bn by 2030, supporting the transition by providing investment that is specifically focused on green activity, including renewables, energy efficient and sustainable transport; and - £175m investment in green innovation over the next five years with an aim to fill growth stage funding gaps, help accelerate

government financing and assistance schemes, such as the Coronavirus Business Interruption Loan Scheme (CBILS) and Bounce Back Loan Scheme (BBLS). Looking to the future, Wrightbus, helped along the road by Barclays, is well on its way to further developing and growing the green economy here, in Northern Ireland. It’s also being awarded £11.2m from the Government to assist in developing hydrogen fuel technology. And Jo’s keen to see Northern Ireland forge its own position on the hydrogen map.

and scale catalytic and strategic solutions to environmental challenges. Through Barclays dedicated sustainability teams it provides financing, investment and other product solutions to start-ups all the way up to large corporates and governments. Since 2018, Barclays has already facilitated over £32.4bn of green financing and there is increasing demand for more innovative products, such as sustainability linked lending and digital solutions across payment platforms. As society’s expectations of businesses continue to evolve, it is by focusing on core products and services for customers and clients, that Barclays can have a meaningful impact in the preservation of our environment.

“Northern Ireland has an opportunity to grab the hydrogen economy in its own back yard – whoever does that will reap the benefits. “We have Wrightbus, we could produce hydrogen in Ireland and it can happen. The UK and Ireland are pretty small islands, and there is a world out there. We have to have products which engage with the world. “At this stage it’s about creating a solid foundation for what is a relatively young business in its new owner’s hands, before eyeing up and expanding across the global marketplace.” ■

MEDIA

Belfast Telegraph launches new campaign As Northern Ireland heads towards a full reopening, the Belfast Telegraph has unveiled a major new advertising campaign following a significant refresh of the newspaper, while new research also shows continual high levels of trust and confidence in both its print and digital offering

he Belfast Telegraph has launched a bold new advertising campaign as research shows there remains strong trust in both its print and online offering. The new campaign includes Ireland’s largest backlit, double-sided advertising display, on the

doorstep of the SSE Arena – Northern Ireland’s largest vaccination centre. It’s designed to create a talking point for those from across the region, and reflect the key role the publication plays in the community, reflective of a modern Northern Ireland.

The bold campaign will also be supported through dynamic digital ‘adshels’ close to vaccine centres and shuttle services. Working with The Public House and Ardmore, the Belfast Telegraph’s major new campaign helps reflect editorial commitment, starting

The major new campaign from the Belfast Telegraph with a large back-lit advertising billboard close to the SSE Arena which is currently a mass vaccination centre

conversations with potential readers and giving the Belfast Telegraph a fresh sense of relevance.

As a reliable news source, the Belfast Telegraph topped the research in regards to ability, integrity, dependability and purpose.

Meanwhile, fresh research shows the Belfast Telegraph continues to outperform its competitors across a range of categories, aside from the BBC.

The research also showed readers were most interested in “culture, international news and politics, with a preference towards opinion pieces at the weekend”. Reading news tends to be either first thing in the morning, during breakfast, or in the evening.

And for the Belfast Telegraph online, the research indicates that focusing on providing engaging content is critical to gaining ground on the BBC – for example, providing breaking political news and exclusive content. “With audio news having higher trust capital than other sources, there is a foundation for taking responsible risk with this news format and could be an opportunity to expand the digital offering,” the research from Edelman says. “Younger audiences feel that audio news such as podcasts will become more prominent in the future, accelerated by changing behaviours during the pandemic and there is expectation that news publishers should provide audio news content.” The research showed high levels of trust in the Belfast Telegraph, with 45% of those surveyed saying they had ‘high trust’ for the paper’s online offering.

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MEDIA

“It’s reassuring to see we score so highly when it comes to trust,” Eoin Brannigan, editor-in-chief, the Belfast Telegraph and Sunday Life, said. “The combination of so much online fake news and lockdown driving people to social media makes it even more crucial that brands like the Belfast Telegraph exist to give our readers accurate information. “We’ll examine the findings further to help us hone our digital and print offerings to make sure our audience gets the best in local and national Northern Ireland news. “The Belfast Telegraph doesn’t just exist to break stories, we’re also here to entertain and hold the powers that be to account – no matter who they are or which interest they represent.” ■

IN FOCUS

Developing a digital healthcare future

You might be surprised to know that videoconferencing has been on the go in one form or another for more than three decades. But the pandemic and availability of platforms such as Zoom have meant taking that next step forward across the healthcare world. John Mulgrew speaks to Sam McMaster, director of HSL Telehealth, about the technology it’s now putting in the hands of patients and professionals alike

or Sam McMaster, the idea of a video call and conferencing, is something that’s been in wheelhouse in one way or another going back as far as the year this journalist was born. Now, he’s working with medical business Hospital Services Limited (HSL) to roll-out an official partnership with Zoom to deliver

secure, and high-quality remote videoconferencing for a host of major health organisations, and needs, across the UK and Ireland. “I joined in HSL in 2018 to bring along the experience and customer base which I had built up,” he says. “When you do a good job, customers stay with

IN FOCUS

accessible and easy to use for those less familiar with video-conferencing. “We ensure that the data flowing across is heavily encrypted, secure and private – running on a data centre in London. Currently, it’s working with two major trusts here – the Northern Health and Social Care Trust and Western Social Health and Social Care Trust.

more than 35 years ago, and was part of the team which developed one of the world’s first video conferencing systems back in 1985 – from San Francisco to San Jose. Since then, he’s enjoyed a lengthy CV working across a range of key roles within communication and the health sector. What HSL offers up to healthcare professionals through its Zoom partnership is a different level of security and quality of service. The days of ‘Zoom bombing’ are long gone in this regard.

you. I had every health authority as a customer, and we focused on health as a key market for video and collaboration.” In 2018, HSL set up a new business unit in response to client demand, HSL Telehealth, which focuses on engaging with clients digitally to support their existing collaboration and conferencing needs. “We have a plan to acquire a good customer base around the transformation of health services in Northern Ireland, the Republic and GB. We are very much ahead of our initial plan as we can bring experience (to the role).” Sam says he first fell in love with telecoms

MAY 2021

“The challenge with Zoom is allowing customers to have the app in their pocket, and have a familiarity with it, making it a means of accessing healthcare in various ways,” Sam says. “Because the pandemic started, and people started to use video, it became accessible – everyone could use it and download it. “With the year we have been in, there is a huge amount of familiarity and usage from the general public (towards Zoom). To ignore that as part of how patients access their healthcare provider would be ridiculous.” The system employs secure and encrypted links. When a user opens Zoom it takes them into the session within the healthcare system, and requires less navigation – making it more

Sam says while others continue to use Zoom for some elements, they are in the process of transitioning to using the HSL Telehealth system. The system can be, and is currently, used for a range of medical purposes. That includes general medical appointments with GPs, cancer appointments, access to consultations for areas such as diabetes, neo-natal and mental health. It has a host of major customers across the NHS in England which utilise its services, including Great Ormond Street’s children’s hospital in London. Telehealth solutions have been widely embraced by NHS and private healthcare providers and patients alike during the ongoing pandemic and this new way of providing and accessing patient care is expected to endure within the local healthcare sector postpandemic. The team is also hoping that almost every hospital in Ireland will be using Zoom in some part of their operations, and the availability of Zoom through a healthcare partner removes the risks of investing in this technology in many more parts of healthcare development and delivery. Sam says the hope is to roll-out the services across as many as 70 health trusts across the UK over the next two or three years. ■

PROFILE

Investing in the future and boosting business O Craigavon-based JMC Packaging is a company continuing to expand, seeing sales soar and investing in the future. Having just taken delivery of a new tape printing machine – it’s looking to grow further and help firms boost their business and brand across the sectors 24

ver the last three decades, JMC Packaging has ensured it’s a firm which is continuing to expand, grow and assist local Northern Ireland businesses right across the sectors.

It offers local companies a much more affordable and cost-effective branding solution, over customised branded packaging, such as a boxes, according to managing director, Jim Cullen.

And the company, which has seen sales rising by 20% over the last year, has taken the next step forward with its latest investment, and is already working with a host of big household company names along the way.

“The new three-colour flexo press allows us to print tape for customers across the different sectors,” Jim says.

JMC Packaging has invested around £200,000 in its new printing project – offering existing, and new clients, the ability to produce branded tape to boost their brand awareness.

“This new addition expands on what we are already offering and it’s another string to our bow.” “JMC Packaging are the only company to offer branded tape printing in Northern Ireland.

Tape produced by JMC’s new machine

PROFILE

Meals, Traynors and Mash Direct. Stuart McGregor is production supervisor at JMC Packaging. He says the new tape machine can play a key role in how a wide variety of companies promote their business, and their brand.

Jim Cullen with the new tape machine

“The beauty about the product is that it’s suitable for companies of all shapes and sizes. That includes gym equipment, through to engineering, electric wholesalers and the food and drink sector, to name a few.” And for Jim and his team, eco-friendly and more sustainable packaging is an area which the business continues to see increased demand for from its clients. “With the new machine we are looking towards the Kraft paper, which is fully biodegradable and recyclable. It does have a price but customers are now happy to pay the extra money for the green credentials.” Demand for the new tape products has already been very strong. The company is working with some well-known brands and businesses – right across Northern Ireland, and right across the sectors. That includes businesses such as Donnelly Group, Trillick, Eglish Building Supplies, Sliced

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“The three-colour printing machine means we can print a range of tapes,” he says. “That includes polypropylene tapes right up to Kraft gum paper. It’s a machine which is going to help enhance your brand awareness. “For companies, using this tape on their product will boost the visibility for customers, and it’s also very useful from a track-and-track perspective – it’s a key marketing tool for promotion.” One customer has started using the customised and personalised tape to ensure the company name stands out and products aren’t lost and are traced. JMC Packaging, which operates its main base in Craigavon, is now one of Northern Ireland’s leading distributors of both packaging machinery and materials and is investing in both its operations and people, as it expands its reach into new markets. Formed 27 years ago, JMC Packaging started out primarily in fruit and vegetable distribution. But since then it has developed and expanded considerably, working across a range of diverse and burgeoning sectors – from food to pharma. And the last few months have seen sales

soaring for the firm, as shipping volumes increase and many areas within the food sector rely more heavily on packaging. “The market has been very good,” Jim says. “Throughout Covid we have increased sales by 20%. Especially on the food side, items like trays and films. And on the other side, industrial, everything is going out in boxes now and is being shipped.” JMC Packaging employs a workforce of 35 staff, with its main base in Craigavon and a second facility in England. It’s continued to grow its customer base here, and beyond, through a range of avenues – from word-of-mouth, to online and through its existing list of clients. One of its strengths continues to be its ability to not only find the right packaging systems for customers, but having a hands on approach, as well as boasting local servicing, right on the doorstep of many of its customers. Looking ahead to the rest of 2021 and in to next year, Jim is confident JMC Packaging will enjoy continued growth right across the business. “I see business increasing right across the board,” he said. “Whether the market goes back to where it used to be, that is the million dollar question. “We are growing and increasing as we are moving along, and this year has been exceptional.” ■

BUSINESS SHOWCASE WITH ULSTER BANK

Meeting a global health crisis head on Medical grade contactless thermometer business TriMedika has seen demand for its highly accurate products surge amid the global pandemic. And Dr Roisin Molloy and Julie Brien have continued on their journey to success alongside Ulster Bank, with its Entrepreneur Accelerator Programme opening doors each step of the way

Aileen Lagan, business banking director, Ulster Bank, Dr Roisin Molloy and Julie Brien, TriMedika along with Simon Hamilton, chief executive, Belfast Chamber of Commerce

hen entrepreneurs Dr Roisin Molloy and Julie Brien decided to take the plunge and set up their own medical device business, little did they know demands across the global health sector were about to change immeasurably, almost overnight.

“We are a medical device manufacturer and at present make and sell non-contact thermometers,” Roisin says. “You literally point it at someone’s forehead, click a button, and get a reading.”

“Last year during Covid, demand went through the roof, overnight,” Roisin says.

The TriMedika thermometer is different in that it’s of a medical grade, and designed for use by medical professionals right across the health sectors.

Belfast-based TriMedika produces smart medical devices, and experienced a huge surge in demand for its contactless thermometers during the pandemic.

Part of its strength is its accuracy – up there with internal probes – while also removing contact from the process, something which is increasingly becoming an important component

amid a global pandemic. TriMedika designs, develops and manufactures its products for sale in 21 countries, with key markets in the UK and Ireland, Germany, Austria and Switzerland. It’s also now set its sights on the US. But while Covid helped boost demand for its products significantly, TriMedika faced the same issues that many other companies did in terms of getting their products exported. Roisin says shipping costs rose 10-fold. “However, our numbers escalated and we had

BUSINESS SHOWCASE WITH ULSTER BANK

Playing our role in bringing people together By Aileen Lagan, director of business banking, Ulster Bank

ow can we best serve our customers in the midst of a global pandemic is a question I have asked myself many times during the last 14 months. Throughout each of the lockdowns and subsequent easing of restrictions, our business customers have needed varying levels of support from us at different times. Managing this has been a true test of our own agility as we have sought to offer help in a way that meets individual customer needs and extends beyond simply providing financial assistance. As a purpose-driven bank, it’s important to us that we are readying our customers for the road ahead and one of the ways we can do this is by working in partnership with local chamber organisations who are also working hard to help their members adapt and grow. Our new Belfast Talks Business event series is a fitting example of this. We’ve teamed up with Belfast Chamber of Commerce to deliver a series of talks, panel discussions and one-to-one interview sessions aimed at the city’s business community. With each event taking on a different theme, the idea is that by profiling business leaders and innovators from across a number of sectors, we can bring fresh, topical and relevant content to other Belfast-based businesses and connect them with the tools and networks they need to get back on track after a challenging year. Our first session, which took place virtually at the end of April, focused on Belfast’s thriving health tech sector. While health has been to the

to put on more manufacturing runs and build up stock,” Roisin says, And according to Julie Brien, the company is continuing to expand and look towards ramping automation and the digital element of the product and process in order to meet growing and evolving demands. “We looked at new software to bring in and automate as much of the process as possible,” Julie says. “The tracking and tracing of our products is essential. We revised and invested in people, and now have a systems executive to bring everything together. It means we can see dashboards and see where we are.”

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forefront of everyone’s mind this past year, what some may not fully appreciated is that Belfast has a long tradition of companies producing innovative healthcare technologies and Northern Ireland is recognised around the world as an attractive location for companies in this sector to relocate to. Attendees heard insightful testimonials from a number of companies and Ulster University’s professor Jim McLaughlin, as together we looked at what impact a global health pandemic has had on this growing sector. Dr Roisin Molloy and Julie Brien from TriMedika also took part in the event and shared how they have experienced a surge in demand for their products this year. While not every company will have a 2020 success story to share, we think it is important to champion those who have and recognise what others can learn from these experiences in terms of their own growth aspirations. Throughout the series, we want to explore other important areas including tourism and hospitality, green growth, Belfast’s industrial giants and fintech and cyber-security, and plan to time each of the events with significant milestones on our roadmap out of lockdown. For the moment we are hosting virtually but when it is safe to do so, will move to hosting face-to-face events. We hope the sessions will be the beginning of a productive conversation around what we can all do to work in closer collaboration, and support our city going forward. Ulster Bank is committed to playing its role in this work and it’s encouraging to have partners, such as the team at Belfast Chamber, we can lean on to help us achieve our shared goal.

Roisin and Julie’s relationship with Ulster Bank has been in works for years, starting out at a personal banking level before expanding into their ongoing key business partnership. “We then heard about the Entrepreneur Accelerator Programme, and were looked after by John Ferris and Lynsey Cunningham,” Roisin says. “The connection with them was really brilliant. We were also able to network brilliantly and we were often directed towards very helpful people.” That also opened up access to a range of Ulster Bank and Royal Bank hubs right across the UK. The Entrepreneur Accelerator Programme has helped the firm secure key connections. In

one case during a pitch event, the company was able to speak to a government official face-to-face about helping the firm get on the approved framework in order to be able to tender for key NHS contracts. TriMedika is continuing to expand its team in order to meet increased demand. A team of 14, it’s set to grow its workforce further still across a range of areas, including its marketing department. That will see it increasing staff numbers to at least 26 this year. And it’s already looking ahead to prototypes for its new model – which includes a communications module to help centralise and send data wirelessly without the need for additional contact. ■

PROFILE

Leading from the front: How Ulster University Business School is supporting firms through challenging times Many companies need support now more than ever, with the double hit of both Covid and Brexit impacting on day-to-day business. Dr Sandra Moffett and Dr Trevor Cadden outline how the Ulster University Business School is continuing to support and provide much needed direction, both strategic and operational, to businesses and students alike to help them adapt and deal with the challenges ahead

or business academics Dr Sandra Moffett and Dr Trevor Cadden it’s never been more important for companies of all shapes and sizes to avail of a “fresh pair of eyes”. “We are looking at a land, sea and air approach to helping firms deal with their supply chain issues,” Sandra says. Sandra is head of the Department of Global Business & Enterprise at Ulster University, based at Magee in Derry, as well as being a reader in business analytics. Her colleague Trevor Cadden is a senior lecturer in Operations Management – working with companies and organisations in tackling the plethora of issues and challenges which they now face. Trevor brings a wealth of operations and supply chain management experience from many years working in organisations of all sizes, assisting firms in navigating the current unprecedented disruptions. For both Sandra and Trevor, the phrase supply chain disruption has become an increasing part of the lexicon here of late. And for those companies struggling to deal with the ongoing challenges, Ulster University’s Business School should be a key first point of

contact in order to help tackle the issues ahead. “We saw that there was a lot of activity, postCovid – working with the Ulster University Business School around management and leadership capacity, and how organisations can cope with that,” Sandra says. “Once Covid hit it was firefighting mode, so there may not have been as much planning or forward thinking. “Brexit really came and went. There had been a bit of distraction with Covid, but from January we have had a lot of contact with local companies who want to forge ahead with business planning and activity now. “People are now really starting to see the implications of Brexit. They may have had a bad experience for example, they may have presented at a customs port and been turned away. We are working closely with a range of local companies to pan out those issues, for example.”

with supply chain issues. According to Trevor, many of the smaller firms have demonstrated exceptional adaptability and innovation in dealing with these changes. “The tenacity, innovation and ‘can do’ attitude is within the DNA of NI SMEs.” He’s been working on and researching how firms can get ready for the supply chain issues facing them amid Brexit, in partnership with Manufacturing NI, funded by the UK Government. That includes establishing online resources to help SMEs deal with the issues which have begun to arise following the end of the transition period. Over 80% of firms that accessed these found they significantly improved their supply chain resilience and readiness for Brexit. For Trevor, the one key focus for companies right across the spectrum, is cost management.

There’s also a disparity in how firms have been, and are continuing to cope Sandra Moffatt

PROFILE

One of the key areas in which the Business School can assist firms is in the digitisation of their companies – from online selling to utilising key data in the decision making process. “Linking in with the university gives you that confidence,” Sandra says. And trying to take something positive away from the impact of the Covid crisis, Trevor says one silver lining has been with how businesses are now “embracing technology”.

Trevor Cadden

“Business sales have dropped enormously,” he says. “But the resilience of SMEs has been tremendous. A lot of them have changed their business models and embraced technology.” That includes one firm which, struggling to sell into big high street names due to Brexit-related issues, began selling online and direct to the consumer – with a better profit margin along the way. “It’s different, sector-to-sector,” Trevor says. “Supply is still a massive issue, and there’s still the impact of the NI Protocol.” The Ulster University Business School now boasts around 5,000 students and a team of 150 staff. And because of the shifting demands and a greater need for expertise in specific areas, it’s creating and expanding the range of courses on offer – including the Graduate to Export scheme, a graduate degree in International Business, and Masters in International Finance, to name but a few. Sandra says the university is working closely with a range of companies to overcome the challenges, especially moving to a digitalfocused landscape, and one with a greater focus on both flexibility and staff wellbeing. “I work with a lot of companies in terms of business process improvements, systems implementation and design, as well as data integration and analytics,” she says. “Companies are now focusing on their

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processes. They are looking at efficiencies and the business model which they have in place, and how that all works. “They are also looking at technical systems. Not just supporting staff in being able to work remotely, but also looking at streamlining their data, and trying to use that to predict where the future will be. There is also a focus on the emotional health and wellbeing of employees.” Following a year-long knowledge transfer programme the Business School delivered based on process and systems development with local company, TanOrganic, they said: “The collaboration project with Ulster University Business School has been fundamental in adapting our business model to cope with the unprecedented business climate. We are emerging from this disruption much more resilient, better positioned and confident in our future business direction and success.” The university is also working alongside a range of initiatives, including the Innovation Boost scheme – allowing strong north-south collaboration.

“Because businesses are having to do this to survive, they are realising it’s not as complicated as it is perceived to be and there are a lot of opportunities and support out there,” he says. And he says businesses are not “going to be the same again” post-Covid in terms of how they operate in future. “There will be fewer face-to-face meetings, and fewer conference visits, with more flexible remote working. I think that benefits many people. There are really talented people out there which firms can now tap in to, irrespective of where they live or their family circumstances.” Sandra says there has also been a greater focus on education and a greater degree of flexibility in being able to reskill from home. “People are more open to it now,” she says. “We have been pleasantly surprised at the acceleration of our numbers for September.” Trevor also says demands for remote-learning have changed and evolved considerably since the beginning of the pandemic, while students still want to retain that face-to-face contact which is key to relationship building.

“There is a lot of support out there,” Sandra says. “We would urge people to make contact with the Business School. We have skills and expertise in a range of areas – from marketing, promotion and branding, right through to supply chain operations, data analytics, leadership and management.

“There’s now an explosion of totally online courses,” Trevor says. “I don’t see Ulster Business School just following the crowd. Technology is an enabler, which we embrace, but we pride ourselves in stimulating innovation through developing people, networks and knowledge – to this end, I think our approach will always have a personal element.”

“We should be the first point of contact for a company which has any sort of issue – rather than trying to grapple it themselves, reach out for the expertise.”

If you would like to access the business support solutions or would like to discuss management development needs please contact UUBS’s Business Engagement team at engage@ulster. ac.uk

Trevor Anderson, Belfast Harbour, Brendan Digney, founder of Machine Eye, Mark Gibson, BT, and Kathleen Garrett from Techstart

NEWS

Newry AI firm secures fresh funding

Newry tech firm which uses artificial intelligence to prevent farm and industrial accidents has won a £75,000 proof of concept grant from Belfast Harbour and Techstart Ventures. Machine Eye, which was founded by Brendan Digney, will also get practical support from Belfast Harbour, after winning the competition for innovative thinkers. Telecoms giant BT will offer expert support and access to the 5G private network being developed in partnership with Belfast Harbour. Machine Eye has developed an intelligent safety system for agricultural and industrial machinery using artificial intelligence and computer vision. It has created a “human protection platform” which can intervene seconds before an accident happens in an outdoor industrial setting – saving lives in the process. Belfast Harbour said the competition aligned with its ambition to stimulate innovation and

keep employees, customers and visitors safe. “Machine Eye aims to act as a safety net, providing protection for all those in primary industries, regardless of whether they are a worker or bystander,” Brendan Digney said. “By analysing human and machine behaviour, Machine Eye acts ahead of time, identifying and preventing accidents before they’ve a chance to develop. “We are really excited to have won the competition as it provides us with funding to deploy our proof of concept system, pilot hardware and develop capabilities further for practical commercial use. The opportunity to work alongside Belfast Harbour and BT in the operational harbour environment will also be invaluable.” Trevor Anderson, infrastructure and business transformation director at Belfast Harbour said it could see the benefits of Machine Eye’s technology for the port, where pedestrians and heavy machinery operate in close proximity. Kathleen Garrett, proof of concept manager

at Techstart – which invests seed capital in Scotland and NI – said: “Machine Eye has a unique opportunity to work closely with the people who will use its product while it is still being developed. We have found that building early versions of products with the close involvement of a first customer can be really helpful. We are hopeful this initiative will help the company to accelerate its high growth potential.” Mark Gibson, business development director at BT in NI, said: “As one of the largest investors of innovation in the UK, BT is delighted to be providing Machine Eye with access to our 5G network as well as offering our business expertise to help the company to develop and grow this innovative concept. “5G can deliver massive benefits to business and industry. Not only will the network provide Machine Eye with ultra-fast speeds and the reliability needed to launch their business, but it will help improve operational efficiency and productivity, fast knowledge transfer and higher employee satisfaction and engagement. “We look forward to working with Brendan and his team to support them as they grow their new business.” ■

PROFILE

Significant growth for Scottish Provident Building amid lockdown

he Scottish Provident Building, located in Belfast City Centre, has seen significant growth in terms of new businesses looking for serviced offices along with the expansion of existing businesses, despite the difficulties posed by repeated Covid-19 lockdowns and the UK’s departure from the European Union. Donna Linehan, client services director at VenYou, says that the building’s occupancy levels are currently at a strong mid 80%, a great improvement from what the occupancy levels were after the first Covid-19 lockdown last March when it dipped to 70% after being in the high 90s. In recent months, a number of new companies have joined the Scottish Provident Building including CAA Base, an agency for professional footballers, Hool Law, one of Belfast’s leading law firms and the Watts Group, which offers mechanical and electrical building services that

have returned to the building having been in a conventional office space. As well as new companies moving into the building, a number of businesses have expanded their services recently and have moved into larger office space within the Scottish Provident Building. This includes HHAeXchange, Provizio, Overwatch Research, AP Consultants, Artemis Human Capital and Germinal Holdings. “On behalf of the Scottish Provident Building management team, we are delighted to see new companies joining the building and indeed some of our existing tenants experiencing such growth that they require a larger office space,” Donna says. “It’s perhaps an understatement to say that the past 12 months have been quite a challenge for all businesses, not just with the outbreak of Covid-19 but also with the issues that have arisen since the UK has left the EU. We certainly feel very lucky to be in such a privileged position after the year we’ve experienced. “We know that the service offered by VenYou is very attractive to business owners. Companies have flexible contracts, they only pay for what they need, and we do our very best to accommodate them whether they need to downscale or upscale. We pride ourselves on being able to meet the needs of our tenants, regardless of how complex they may be.”

The lobby of the Scottish Provident Building

MAY 2021

Elsewhere, Harry Dowey from the Watts Group claims that VenYou’s flexibility coupled with the Scottish Provident Building’s prime location was a major plus for the company moving away from a conventional space and returning to serviced offices within the building.

Donna Linehan

“The nature of our work requires us to be in the city centre where we can easily network with clients and industry colleagues,” Harry says. “The great thing about the Scottish Provident Building is not only the superb facilities of this beautiful building but it’s location – it’s close to restaurants, cafes, car parks and is easily accessible by bus and train which is fantastic for us. “The flexibility offered by VenYou also made our decision to return to the Scottish Provident Building a very easy one. Flexibility is vital for many businesses, especially in this current economic climate and the team at VenYou is able to deliver that and so much more.” Sarah Orange, managing partner at Artemis Human Capital, said: “We have been tenants at the Scottish Provident Building for eighteen months and the level of service from the VenYou team, the building’s location and the facilities that are available are second to none. “Our company has recently expanded to the point that we required a larger office space. The VenYou team were able to assist us during the move and it was a seamless transition that worked around our schedule so that we didn’t experience any disruption to our work. “If anyone is searching for serviced offices and a central building where the management team really take care of their tenants, look no further than the Scottish Provident Building.” ■ For more information call the VenYou team on 028 9091 8500 or visit the website at www. scottishprovidentbuilding.co.uk

RECOVERY

Mid and East Antrim firms primed for bounceback as council keeps rates low

id and East Antrim Borough Council has agreed its lowest increase in rates – and the fourth lowest increase in Northern Ireland – to help the economy and society recover in the wake of the Covid-19 pandemic. The council – the only borough to take advantage of new legislation which allows the application of different rates, called decoupling – will increase non domestic/business rates by just 0.64% and household rates by just 0.99%. By keeping business rates as low as possible, the council said it is aiming to help alleviate the financial pressures on companies throughout the borough which have had to operate in an increasingly challenging environment as a result of the pandemic. The application of a minimal increase in rates will support them to rebuild their businesses and in turn kickstart an economic recovery across Mid and East Antrim. The move is the latest in a raft of measures which the council has implemented since the start of the pandemic in an effort to help companies of all sizes and in all sectors to recover their pre-Covid lustre. In the onset of the pandemic, Mid and East Antrim responded quickly to realign business support and to implement interventions to tackle the most immediate business needs, needs which altered on a daily basis as a result of ever-changing restrictions. It has provided one-on-one support to over 1,700 businesses, provided 4,000 hours of mentoring support, delivered 700 Covid Retail Support Packs, established the Town Centre Recovery Taskforce, created a dedicated personal protective equipment (PPE) section on the council’s Buy and Supply portal, organised 47 webinars, three redundancy clinics and a virtual jobs fair offering over 3,000 vacancies. Mayor of Mid and East Antrim Borough Council, councillor Peter Johnston, said: “While we remain very much in an emergency

Carrickfergus Castle

situation, it is vital we continue as a council to work towards the recovery of our society post– Covid, and doing everything within our power to help our businesses as they begin to reopen, rebuild and ultimately prosper once again. “With this in mind, we began our rates process back in August, and since then we have been working round the clock to identify savings and efficiencies, and ensure that the impact of rates on our citizens is minimised, while at the same time maximising the resource at our disposal to ensure vital support is available and that we can invest as required in our Borough and its infrastructure. “Over the past year, I am proud we have continued to deliver a string of important capital projects and investment across our Borough, and I commend our chief executive Anne Donaghy OBE and her staff.” The rates were proposed by chair of Policy and Resources Committee, alderman Robin Cherry MBE. “In the year ahead, there will be major investment opportunities for Mid and East Antrim through the development of digital infrastructure and a hydrogen training academy in Ballymena, as well as the regeneration of St Patrick’s Barracks, establishing an Innovation Centre in the town,” he said.

“In the Larne area, there is the planned expansion of The Gobbins and new Sandy Bay pavilion, and in Carrickfergus, there will be the construction of a new Household Recycling Centre at Sullatober, as well as the beginning of the regeneration and renewal of the town centre.” Mid and East Antrim’s average domestic rates bill will be £984 a year (Around 9p a week increase from previous year). Based on average capital value, this places homes in Mid and East Antrim’s rates bill fifth lowest out of Northern Ireland’s 11 council districts. Likewise, the average business rates bill will be £12,006 (84p pence a week increase from previous year) in Mid and East Antrim, ranking the borough seventh lowest out of Northern Ireland’s 11 council districts based on average net annual value (NAV). Council’s portion of the rates amounts to 49.1% of the rates bills received by residents and 53.7% of businesses rates bills in Mid and East Antrim, with the remainder of each set by the Stormont Executive. More than £230m of additional business rates support from the Executive was confirmed on March 11, and Mid and East Antrim Borough Council will continue to access any further grants for roll out to businesses. ■

Business finance & banking

BUSINESS FINANCE & BANKING

Splurge or surge? As England eased lockdown restrictions and reopened its retail and hospitality trade last month, economists predicted a spending splurge. Emma Deighan asks economists in Northern Ireland if local firms can expect consumers here to follow the same course

s England celebrated the reopening of pubs, restaurants (for outdoor services only) and nonessential retail as well as the resumption of tourism attractions, economists clambered to offer insights into imminent spending patterns. Some initial reports suggested that in GB consumers would splurge around £600bn, a 4% increase in spending, between April and June alone and a 4.5% boost in the third quarter when remaining restrictions are expected to lift. Analysts at Capital Economics said that consumers would spend a total of £632bn between April and September, which can be partly attributed to amassed savings throughout lockdown.

2020 financial results back in February, Kevin Kingston, chief executive of Danske said cash reserves could be a key element in reigniting the economy, once levels of confidence and increased certainty return. Danske’s chief economist Conor Lambe is also positive but, he says, it is unlikely consumers will splurge the entirety of those savings they accumulated during lockdown. “As the coronavirus restrictions are gradually eased and the economy begins to re-open, I think we will see a relatively strong rise in consumer spending – albeit from a low base – as people return to shops, restaurants and other entertainment venues,” he said.

Closer to home, Danske Bank’s revelation that it experienced a record surge in deposits among its NI customers – up £2bn in the last 12 months – could indicate that Northern Ireland may have the means to follow England’s lead in the ‘spend fest’ when restrictions ease.

“In its March 2021 Economic and Fiscal Outlook, the Office for Budget Responsibility estimated that the excess savings built up by households across the whole of the UK during the pandemic will reach around £180bn by the middle of this year. These extra savings are likely to provide some support to household spending levels, but I think it is unlikely that people will spend all the money that they have saved.”

Speaking when Danske Bank released its

The economist said consumer spending here

will rise by around 5%, “a little higher than the forecast for overall economic growth of 4.8%.” However, Conor still anticipates an air of caution among many consumers who are feeling the uncertain about their financial health after furlough and other government schemes end. “Uncertainty around the pandemic is likely to persist, people who have been furloughed will have seen their income squeezed and unemployment is also expected to rise this year. These factors are likely to lead some people to hold back on how much they are prepared to spend.”

BUSINESS FINANCE & BANKING

Belfast city centre on a business Christmas weekend in 2018

Richard Ramsey, Ulster Bank’s chief economist for Northern Ireland, said there is a lot to consider when predicting consumer spending patterns when lockdown eases.

Richard predicts there will be specific areas that will benefit from spending including the staycation market.

“The easing of restrictions, in whatever shape they take, will see a sharp pickup in economic growth and that will come from consumer spending,” he said.

“It should be a bumper summer for the hospitality sector when it reopens but that’s after having a famine for the last year, it’s not going to make up for the losses, but there will be a splurge in that area.

“The question is, will it be splurge or surge. I think we’ll see a variety of things going on. The tap for spending in certain areas will be turned back on and will benefit from pent up demand but that will normalise. Most of the increase in spend will be more about the normalising of activity rather than a splurge.”

“What we must remember is, many people have been spending online during lockdown and that is evident from a shortage in certain items such as garden furniture. There will also be barriers to spending and that will be because of things like price rises arising from supply and demand issues and even Brexit.

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“Then we have a percentage of consumers who will be cautious, who have been furloughed or who run businesses and will have to pay back debts. It comes down to how behaviours may have changed over the past year. Not everyone will want to splurge.” Referencing the predicted spending boom across the water, Dr Esmond Birnie, senior economist in the Business School at Ulster University said: “There is a consensus that the very unusual conditions of lockdown (less opportunities to spend, and some though not all household costs reduced eg on commuting) implied a massive growth in savings at the UK wide level. >

BUSINESS FINANCE & BANKING

Belfast city centre in pictured in March

“Various estimates put this growth in savings in the range of £150bn-£200bn. Given that most of this was forced savings it would not be surprising if people wished to spend some of this money once they were free to do so. How big a proportion will be spent late in 2021 – and perhaps in 2022 too – is a matter for debate. “The more cautious estimates such as those of the Bank of England and OBR are only five percent whereas Deutsche Bank goes as high as 25%. “Even 5% of £150bn would still amount to £7.5bn – 25% of £200bn equal £40bn or about two percent of total UK GDP (the same as average economic growth in a “normal” pre-Covid year). “Unfortunately, we don’t have clear, official data on consumption and savings in the

NI economy. The likelihood is that substantial excess savings have also been accumulated here as in GB. We are probably talking about several billions.” Esmond says businesses should remain cautious about the prospects for a post-Covid consumption boom and warned: “First, the likelihood is that the Covid savings boom was concentrated amongst higher income households. Such households may sit on their excess savings or spend them on high value and imported items (foreign holidays when these are allowed) or invest in the financial markets. “So, the impact on the NI high street could be less than some might hope. As an aside, the American experience of cheques sent to almost every household suggest that ‘helicopter money’ experiments such as the NI executive’s proposed high street stimulus vouchers

could have a lot of leakage out of the local economy and so not necessarily benefit NI’s GDP. Returning to the theme of Covid savings, conversely, a lot of lower income households probably had to borrow more during 2020 and 2021 and so will be in no state to go on a spending spree.” In early April, Finance Minister Conor Murphy set out the Executive’s 2021/22 Budget, a £1.78bn spend of which £145m will be earmarked for the High Street Stimulus Scheme to encourage spend in towns and city centres. But Esmond also warns of the implications from a spending splurge. “Economically speaking there is a moderately probable scenario of ‘too much of a good thing’. Yes, we get a consumption splurge which leads to accelerating inflation and then interest rates have to go up which dampens down the economy again.” ■

ANALYSIS

What the OECD tax plans could mean for NI Economist John Simpson looks at what impact tax proposals from both the Organisation for Economic Co-operation and Development (OECD) and EU could have on Northern Ireland and its ability to attract foreign investment

ANALYSIS

ompetition between development agencies to attract foreign direct investment (FDI) is a longstanding feature with particular interest for regions of the UK and for Ireland. Ireland has enjoyed continuing successful results partly aided by a 12.5% corporate tax rate. Both the Organisation for Economic Cooperation and Development (OECD) and the EU have been developing policies aimed at removing tax arrangements that benefit multinational companies which, under existing international tax rules, shift the reporting of profits to low tax countries including Ireland and offshore places such as islands in the West Indies. Currently, both the OECD and EU are ready to commend changes which their member states are likely to accept which will reduce the effect of tax incentives on the attraction of FDI. This is not a new debate. International agencies such as the OECD have been working to broker codes of conduct so that business profits are taxed more closely to the place where they are earned. Even the apparently objective criterion of assessing profits where they are earned can be difficult to implement. If a business has developed special processes for which there may be patent or intellectual property rights, the accountants and lawyers can register those IP rights as being held in a separate jurisdiction so that most of the profits are shifted to a country with a lower tax regime.

require all large multinational companies to publish their turnover and profits earned in each country. One way or another, multi-national companies will find that their tax assessments will shift to fall more heavily where profits are actually earned. Northern Ireland agencies should take a close interest in the impact of these changes. First, the UK is likely to exercise its influence on the final OECD agreement and then to incorporate the changes in UK corporate tax law. Second, Northern Ireland businesses will have an interest in the implications for the location of multinational companies considering investment in Ireland.

Northern Ireland will be demonstrating the advantages of offering a location that has an unfettered GB market as well as being able to claim a location within the trading remit of the EU. The Irish ability to offer much lower corporate tax rates may be reduced as a consequence of the OECD proposals The post-Brexit arrangements have put local businesses into a closer environment.

The OECD is considering proposals that would allow national authorities either to base corporate tax levies on the revenue earned in a specific market (the country where the transactions take place) or to impose a proportionate flat rate of taxation on overall profits (with no regard to tax planning) as attributed to a particular country.

The Irish authorities are closely interested in the possible changes in international taxation agreements since the search for changes which attribute taxation more closely to the location of a business are something of a threat to the continued operation of many international businesses.

The EU in a separate decision has voted to

The potential adverse impact on investment

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in Ireland and Irish taxation receipts has been recognised for some time and gave rise to a recent case brought by the European Commission. However, the Irish Government was successful in pleading that Irish corporate taxation did not offend commission tax rules on State aids. A possible appeal is still pending. The OECD proposals opening the door to attributing profits in different countries in proportion to turnover, or proportion of business, may mean that large Irish registered subsidiaries of multinational businesses would face larger tax charges in other countries to the detriment of Irish taxation. Since Northern Ireland and Ireland will be closer competitors for FDI in the new postBrexit regime, the OECD proposals may have an indirect knock-on effect for a renewed FDI campaign here. Northern Ireland will be demonstrating the advantages of offering a location that has an unfettered GB market as well as being able to claim a location within the trading remit of the EU. The Irish ability to offer much lower corporate tax rates may be reduced as a consequence of the OECD proposals. The Irish authorities can be expected to defend, as far as possible, the existing regime. That will be difficult in both the EU and OECD. Northern Ireland authorities must now reconsider whether there is still a valid case for exercising the option, approved three years ago by the UK Treasury to offer a separate local rate of corporation tax. The Chancellor’s decision to revert to a 25% rate by 2023 has potentially widened the gap between Ireland and the UK. This poses a challenge for the recently appointed Fiscal Commission. It will be expected to offer early advice to Finance Minister Conor Murphy and, in turn, he will be expected to take the issue to the Executive. ■

The column with an ear for experience...

How did you start out in your business? Retail has always been my gig from the beginning of my career. I was managing UK stores and regional areas for a long time but, for family reasons, was keen to manage areas closer to home ideally in a similarly challenging national role. As soon as I was approached about the opportunity in Poundland and Dealz, I knew this was the path for me. Discount retail is a rapidly expanding, dynamic and exciting sector and one I knew would be the perfect fit for me. I also loved the connection to the Midlands, with Poundland’s headquarters only 15 miles outside the city, as this is where I completed my degree and have many fond memories. What have you found the most challenging during your years of business, so far? I would have to say the pandemic which has thrown new challenges at us. Protecting our customers and colleagues has never been so important and understanding everyone’s needs during this time has been vital. As a strongly customer-focused company, it’s about adapting to the changing needs of our customers and responding with value products as much throughout Covid-19 as any other time. For our people, it was about supporting their needs too and adapting working patterns when required to accommodate the likes of home schooling. How would you describe your management style? I have been fortunate enough to attend excellent leadership and management courses over the years. Poundland is a people-led company and one that really values its team. Overall, I ensure I manage everyone individually, based on what personally

Name: Olivia McLoughlin Position: Country manager, Poundland/Dealz motivates them and to become the best version of themselves they want to be. My management style is personable, open and transparent. I get to know people so that I can support everyone individually on their own career paths.

been very driven to hit targets. I’ve found a good fit in working with Sharon and with Poundland. We are innovative and forwardthinking, many ideas for the group have originated in Ireland and then have been rolled out based on our success.

What would you change if you could go back and do it all again? A piece of advice I would give my younger self: find roles and companies that have the same values as you and somewhere you feel comfortable and can flourish. If a culture fit is wrong for you, then I would advise moving on sooner – be somewhere where you can really build your confidence and be yourself.

How would you like your business to be remembered? For creating amazing retail career opportunities for people. At Poundland, we often give people that first chance, supporting them 100% to achieve their goals. If they show us they have the drive to build a career, we will encourage, support and guide them along their career journey. For example, 40% of our apprentices have not completed their school exams but we are giving them an opportunity to go grow and build their own career paths, from further education to management and beyond.

Have you done it all on your own? Particularly as a female co-leader in Ireland, alongside the brilliant Sharon Sheridan, we have had to be both self-motivated and collaborative to push barriers to get to where we are now, with 30-plus stores in Northern Ireland and 70-plus Dealz stores in the Republic. I have had brilliant mentors in my career but ultimately, I have created my own goals and gone after them. Team goal setting is equally important, and I have always

What piece of advice would you give to a 20-year-old you? Find a company that really values and invests in its people, one that supports you as you develop your career. ■

Commercial property & construction Sponsored by

COMMERCIAL PROPERTY & CONSTRUCTION

Papped: how our city centre looks today While it have been some time since many have set foot in our city centres, the skylines are changing as work continues on many ambitious schemes. John Mulgrew takes a photographic look at the cranes up across Belfast, and Derry, and the progress being made across major schemes as we emerge from lockdown and look to rebuild the economy ULSTER UNIVERSITY For those who haven’t been in Belfast city centre for some time, the progress of Ulster University’s second phase of its Belfast campus since the pandemic struck last year has been rapid. The £250m scheme, which had suffered from a series of delays, is now a sizeable structure when walking around the north end of the city centre. Looking down from Royal Avenue, the new ‘lantern’ section of the building sits out from the skyline – just to the right of the former Belfast Telegraph building. However, it’s when traversing further towards York Street that the significant work on the rest of the building also becomes apparent. The ‘sky bridge’ connecting the adjacent building is now complete, as is much of the main structure, giving an entirely different feel to the area – now framed on both sides of the road with the campus structure.

COMMERCIAL PROPERTY & CONSTRUCTION

BEDFORD SQUARE Bedford Street in Belfast city centre has already seen significant work taking place in recent years, including the renovation of Bedford House and the completion of the Grand Central Hotel – formerly the 23-storey Windsor House. Now, the new home and headquarters of Deloitte is wellprogressed. It’s turning the former Ewart Building, and developing an adjoining 17-storey scheme, into a new major grade A office development. Work has continued apace over the last few months, with the height of the development now evident as its development continues. And the relocation of its staff will continue as planned, despite the pandemic. Jackie Henry, head of Deloitte in Northern Ireland, has said that plans for the internals will likely be amended to deal with a post-Covid environment.

STUDENT ACCOMMODATION Not far from the university campus itself, the corner of York Street and Great Patrick Street has changed significantly with three large student accommodation schemes almost physically complete. That includes LIV Student Accommodation, yet to open. Much of the major work on the project happened during the pandemic, with it being ‘topped out’ in August last year. Hillsborough’s Graham has been building the scheme, which is being developed by Valeo Group. The £36m scheme will include 717 rooms, cover 14 storeys, stepped back to 12.

CITY QUAYS 3 The third grade A office development from Belfast Harbour, the 17-storey flagship – which will be the tallest office building in the city when completed – is now beginning to take shape and break the skyline. A lot of the building’s core work was carried out during pandemic, and the concrete core for the 17 storeys was completed in just seven weeks. It’s only now becoming clearly visible when a good distance away, breaking the skyline due to its height, with the lower floors now glazed. It’ll be the single largest office building in the city, with an overall floorplate of 250,000 sq ft. While no tenants have yet to be announced or officially lined up for the scheme, it’s likely there will be interest from both foreign direct investors, and potentially, some of the Harbour’s other tenants, which are expanding, and in some cases, spread across two buildings.

MAY 2021

COMMERCIAL PROPERTY & CONSTRUCTION

THE PAPER EXCHANGE The space left behind with the demolition of the former Gloucester House and Oxford House buildings are now being gradually filled by Wirefox’s ambitious Paper Exchange development on Chichester Street. BJ Eastwood’s firm is developing the £70m scheme, which will have one of the largest office footprints when completed – around 200,000 sq ft. The central structure of the development is now well under way, with two cranes on site. Those behind it are aiming for completion towards the end of next year. The area itself has been low on footfall of late, due to the restrictions, but sitting adjacent to House of Fraser and Victoria Square as a whole, that’s likely to rise with the reopening of ‘non-essential’ retail.

35DP A building which was far from one of the most attractive in Belfast’s once busy shopping thoroughfare of Donegall Place, work has now begun on the revamp of the structure, which has been home to Boots for decades at number 35-47. Bywater Properties and its joint venture partner Ashmour have started construction work on their refurbishment programme, including the redevelopment of its upper floors into the large mixed-use development. Revised

plans to transform the building, which has frontages on both Donegall Place and Fountain Street, into grade A office space were approved in November 2020. The scheme is around 30,000 sq ft, and includes a coffee kiosk (General Merchants). Savills have been appointed as letting agents to market the scheme which is anticipated to be ready for occupation from June 2021.

EBRINGTON PLAZA The office development, which will underpin the overall Ebrington Square site, is now well under way, with significant progress on the first few floors, glazing in and cladding. It’s being developed by Draperstown firm Heron Bros. Once finished it’ll provide around 62,500 sq ft of grade A office space, with an expected opening date of March 2022.

COMMERCIAL PROPERTY & CONSTRUCTION

What plans for the student scheme at Bradbury Place could look like

Another 1,000 student rooms planned for city N early 1,000 units of student accommodation could be added to Belfast city centre amid separate schemes worth a total of £75m. Irish investor Elkstone Partners will build a £20m student accommodation block with 156 places and ground-floor retail at Bradbury Place. It and a separate Donegall Street project are announced as agency CBRE forecasts a strong year for commercial property deals in 2021. It was to have become a 12-storey residential development by Rojem Properties but has been sold to Elkstone. It will now be converted into 156 student living units on six floors, which are to be ready for September 2022, with 3,900 of ground floor retail space on the ground floor. Elkstone chief commercial officer Ciarán McIntyre said: “Bradbury Place is an extremely exciting project to mark our entrance to the Northern Ireland market with a significant investment of international capital.

MAY 2021

“Our focus is to proactively assist our clients in selecting investment prospects that are directly tailored to their individual needs, and we will be seeking further investment opportunities in the north. “Purpose-built student accommodation continues to be a fast-growing sector, and having seen activity surge across Ireland and the UK in recent years, we identified Bradbury Place as an opportunity to develop this market in NI.

“The 3,900 sq ft of commercial space on the ground floor is also an excellent opportunity for a retailer keen to capitalise on the increased footfall expected from the regeneration of this streetscape.”

The site of 140 Donegall Street is close to the new Ulster University campus. The 10-storey building will have areas for socialising, a gym and cinema room. Around 180 jobs will be created in the construction of the site. A scheme on the site had previously won planning permission though amended plans have now been lodged. “The proposed building is close to the new Ulster University campus and in close proximity to public transport links and the city centre,” Lotus Property managing director Alastair Coulson, said.

There will be 56 self-contained studios and 100 private bedrooms where residents will share communal areas.

“Despite the pandemic the demand for student accommodation in Belfast has been resilient and this proposal offers a fantastic investment opportunity. With such a vibrant student population in the city, this is the perfect location for students to live, study and socialise.

Meanwhile, at Donegall Street, Lotus Property, which also owns shopping centres such as The Junction in Antrim, is launching a plan for a £55m block of 724 student flats on the site of a former car park.

“With the new campus set to cater for 15,000 students, the demand for student housing in the city centre is also set to increase and we believe that this development is ideal to help meet that need.” ■

COMMERCIAL PROPERTY & CONSTRUCTION

Brighter days, renewed optimism, same old Stormont By Richard McCaig, Osborne King

s the latest (and hopefully the last) round of lockdown restrictions ease it finally seems like we can all look forward. A haircut, a steak from James Street and a draft pint of Guinness – the stuff of dreams in 2021. The last year has been tough for everyone and while it’s likely to be some time yet before we get back to ‘normal’, there is cause for optimism in the commercial property market. While this remains sector specific, levels of activity in 2021 have been encouraging. The industrial market continues to perform well, the knock on effect of those seemingly never ending online purchases. As a result rents are moving forward and a ‘good shed’ to buy or rent is incredibly hard to find. Demand for residential sites and refurbishment opportunities remains strong, peoples changing needs and circumstances have driven an incredible number of house moves, 7,401 houses were transacted in quarter two 2020, the highest number since quarter two 2007. There is significant demand for good quality investment opportunities. The sale of Merchant Square on Belfast’s Wellington Place rightly grabbed the headlines in recent weeks. A 240,000 sq ft investment, 225,000 sq ft of which is let to PwC and currently being fitted out ready for occupation. The sale price of £87m to a Middle East-based investor shows confidence in NI and our office market. There has also been significant interest in a number of smaller city centre buildings with competitive bidding from investors on a range of opportunities. “We will never be back in the office” or “people don’t need offices anymore” emerged as some of the common threads in 2020. All office occupiers have had to adapt to the unprecedented challenges caused by the pandemic and while many people can work

Work continues on The Ewart building on Bedford Street

successfully form home, benefiting from increased flexibility and no commute, some occupiers are now reporting that permanently working from home is not likely to be a sustainable option for their business in the long term. Furthermore, employees are asking to return to work even if it’s only for part of the week. There is evidence of increasing office requirements in recent months with a focus on quality over quantity. How people use the office has changed, businesses want it to be a place where staff can collaborate, share ideas face to face and problem solve. A walk around Belfast’s (slightly) busier streets may bring some surprises for those who have stayed away from the city centre over the last 12 months. A number of schemes are nearing completion with The Vantage a 70,000 sq ft office refurbishment on Great Victoria Street, removing the scaffolding to reveal the completed building. Work continues on 35DP, 30,000 sq ft of office space on Donegall

Place, home to Boots, while The Ewart on Bedford Street is well underway and changing the skyline with a 210,000 sq ft, 17-storey development. In addition to major developments the ‘grass roots’ of the commercial market are seeing increased activity. Commercial units of 1,0002,000 sq ft are in demand from local tenants who’s entrepreneurial spirit continues to shine through. We are a pretty resilient bunch and as ever business both big and small is finding a way to succeed in spite of the challenges. The lack of vision and leadership from our politicians is nothing new for us. However it is all the more frustrating when we look at the economic and business opportunities that exist. At a time when a little help would go a long way, it seems the rest of us will be left to get on with our economic recovery, but it wouldn’t be the first time. ■ Richard McCaig, associate director, Osborne King Richard.mccaig@osborneking.com

PROFILE

Consider it done The team at Skope, formerly Bruceshaw, is focusing on a bright future in the new world of construction by keeping it simple and getting projects delivered on time and on budget every time

David Wilson, John McIlwaine, Andrew Murray, Jenny Johnston, James Henderson and Oliver McGuckin

he business world has been through one of the most transformative years on record.

Established ways of operating were turned on their head as the Covid-19 pandemic took hold to be replaced by new, previously unheard of practices: video meetings are now considered the norm rather than the exception; the rate of digitisation has been accelerated tenfold and attention has refocused the business’s responsibility to nuture the increasingly fragile environment. All those factors and more have been experienced by the team at Belfast-based Skope over the last 12 months, with the added

change of a branding revamp. Formerly Bruceshaw, the cost and project management consultancy took the opportunity to refresh its business with the demerger from its London arm. Bruceshaw had established itself as a leader in the industry throughout its 47-year history and, whilst changing their name, Skope has retained the history and heritage which had been built up during that time. And what heritage that is. Bruceshaw was instrumental in the redevelopment of Belfast International Airport, Marks & Spencer at Sprucefield, CastleCourt Shopping Centre, the Port Stanley Airport

restoration in the aftermath of the Falklands War, Laganside redevelopment, the Gateway Offices in the Titanic Quarter, The Obel Tower and many more. While a rich roster of success, the demerger in 2020 provided the catalyst for the firm to not just refresh its brand but to show the market that its offering is anything but typical, Skope’s managing partner James Henderson said. “We saw this as the perfect opportunity to make a statement, reconnect with existing clients as well as enhance and promote ourselves to prospective clients,” he said. “The rebrand and name change was driven by wanting to stand out from the crowd, do

PROFILE

Skope managing partners John McIlwaine and James Henderson

something different and not just ‘change our clothes’.” The difference that James refers to is a level of service which is head and shoulders above the rest of the market, one which has a relentless focus on delivering projects on time and on budget, one which offers solutions, which adds value and, crucially, one which ensures success.

strong pipeline of projects across both the public and private sectors including mixed-use, commercial, residential (private, social, buildto-rent and student), hotels, leisure, health, research and education. Alongside local work, the firm is also growing its business in other regions and retains an office in both Dublin and Glasgow.

“We are a service provider and we are driven by achieving success for our clients, hence the strap line – consider it done. As a business we have always prided ourselves on the level of client service we offer, together with direct partner contact and dedicated teams passionate about delivering best value.

While already working with a number of clients across the UK and Ireland, the changes brought about by the pandemic mean expanding the firm’s footprint outside Northern Ireland is, in fact, easier and the team expect the ‘export’ side of the business to flourish.

“It’s our industry knowledge and ability to build strong relationships which also sets us apart. Our partners alone have more than 140 years of consultancy experience and our team as a whole is driven by innovation and a commitment to excellence.”

“There will be opportunities post-Covid,” John said. “We have learnt new ways of working and clients now accept that physical project meetings are not a necessity. We have the technology and platforms to support this type of service delivery, having innovated and invested in new tools which can deliver the outputs in a virtual world. This should make working in mainland UK or in Ireland more accessible and achievable.

That excellence comes from the wealth of experience across the team of experts at Skope who have collectively helped successfully deliver for a broad range of clients over the last few years. The team, meanwhile, is led by James and fellow managing partner John McIlwaine, along with partners Andrew Murray and David Wilson, all stalwarts of the industry and all passionate about providing the best possible client service. It is that passion which means Skope has a

MAY 2021

“Our vision is to deliver value to clients no matter where they are. Skope’s roots are founded in Belfast but our client base and expertise extends throughout Great Britain and Ireland.” He said the construction sector’s focus has pivoted over the last year. “In the post-Covid world, some of the key

challenges will be regeneration, communities, homes, health and wellbeing, employment, climate change and, very specific to Northern Ireland, Brexit and the ongoing challenges for business and commerce. But these challenges can also be opportunities and we see ourselves being able to provide solutions to our clients to meet each of those issues.” Such dynamic thinking, combined with unrivalled experience and the capacity to deliver means Skope is well placed to do just that, whether in the local market or further afield across the UK. The current list of projects is enviable and includes a number of notable schemes across the public and private sectors, such as The Paper Exchange on Chichester Street, The Department of Agriculture, Environment and Rural Affairs’ new Animal Health Sciences Building, Templemore Baths restoration and extension, LIV Student Housing on York Street, Glasgow’s Maldron Hotel, Bedford Square, Tribeca, Project Sahara, Pirrie’s buildto-rent in Titanic Quarter and Dublin Road’s aparthotel. However, paring the firm’s focus back to that which is really important for clients is the real secret to its success. “It is simple really,” James said. “We deliver projects on time and on budget. Provided we continue to keep that focus as our mantra then we’ll continue to meet the central needs of our clients and they can consider it done. We’ve always been experts at building relationships and that is still very much at the heart of Skope.” ■

PROPERTY

The Place in New Southgate

Danske funds £50m 1,000 home scheme in England

anske Bank is funding a major £50m housing scheme in England which will see more than 1,000 homes built over the next five years. It’s agreed the funding package with English housing provider Origin Housing, which will aid the delivery of more than 1,000 new homes. The new £50m finance facility will be used to help finance Origin’s development plan to deliver 1,089 new homes in the next five years, 80% of which will be affordable housing, as well as to improve the quality of its existing housing stock. The company is a registered social landlord which manages over 6,900 homes in 14 communities across North London and Hertfordshire. Tracing its history back to 1924, when it started life as the St Pancras House

Improvement Society, Origin now provides a range of affordable housing as well as support services to vulnerable residents. “This funding package will help us greatly with plans to deliver much needed new stock to meet ongoing demand for social and affordable housing in the communities we serve in London and Hertfordshire,” Gloria Yang, deputy chief executive and finance director at Origin Housing, said. “Housing is a long-term commitment, so it is important to us that we build new homes to meet future needs and continue to invest in homes that people are proud to live in. We believe good quality affordable housing is a foundation for a successful life.” “Danske Bank showed a great understanding of the social housing sector and really got to know the details of Origin’s long history.

“That the Danske Bank team shared the same passion for our social purpose and demonstrated their support for our mission really took the relationship beyond a simple commercial transaction for us.” And Mark Canning, head of the corporate relationship team at Danske Bank, said: “We are delighted to have been able to provide this funding to Origin Housing and we look forward to supporting the organisation’s growth and its programme to build new affordable housing over the next five years. “Danske Bank has been a lead bank provider of finance to the social housing sector in Northern Ireland for many years. We are pleased to have completed another significant transaction in England, as part of our strategic growth plan is to be more active in helping the sector across the rest of the UK.” ■

Corporate law

CORPORATE LAW

Shifting sands and setting records

The largest office deal of its kind here in the last few weeks topped off a few months of unease and unpredictability among some investors. But there’s been activity bubbling under and a number of sectors seeing an uplift and booming business. John Mulgrew takes a look at what’s been going on across the corporate marketplace

n £87m office deal for a prominent new city centre office scheme this spring marked the largest of its kind in Northern Ireland’s history. The sale of Gareth Graham’s Merchant Square – home to PwC – also marked the first major investment here by Albilad Capital – a Saudi investment fund. In a period in which the idea of the traditional office and workplace seemingly is up for

discussion, it’s a clear indication of the inherent continued value of commercial real estate, and, that while we’re still getting to grips with getting fully back to business, that there’s activity out in the market. But it’s far from the only corporate activity that’s been happening here. Understandably, there may have been some degree of reticence among many companies, about undertaking major investments or eyeing up expansion, when no one, truly, knew what

the marketplace would look like in just a few shorts months’ time. However, now, companies – both indigenous and international – are becoming increasingly active, especially across emerging sectors, such as energy, technology and areas like food retailing – buoyed by changing demands amid the ongoing pandemic. “Much of the recent corporate activity in Northern Ireland has been in sectors which

CORPORATE LAW

Richard Gray

have either experienced increased activity as a result of the pandemic or been only marginally affected by it in economic terms, such as the medical device sector, life sciences, the digital and technology space, food and food retailing, or waste management,” Richard Gray, partner at Carson McDowell, told Ulster Business. “We’ve seen a mixture of M&A and fundraising activity in those sectors. Companies with capital to spend have shown they still have an appetite to take advantage of

MAY 2021

opportunities. For example, Eakin Healthcare Group acquired Armstrong Medical Limited just before Christmas, bringing two leading Northern Ireland based, globally focussed medical device companies together. “Carson McDowell also worked on the acquisition of Rainbow Telecom by Radius Payment Solutions, announced in March.” And Chris Guy, head of corporate and managing director of Mills Selig, says while

the joint head-on challenges of Brexit and Covid were a huge challenge for many that “businesses adapted and demonstrated real resilience, and as a result uncertainty gave way to opportunity”. “Last year was another busy year for Mills Selig and the corporate team. Notable transactions included acting for Euro Garages on the acquisition of the largest KFC franchise in the UK from Herbert Group and advising the management team on the MBO of Trucorp. “We also acted for French multinational Questel SAS on its 51% acquisition of UK based Renewals Desk Limited. >

CORPORATE LAW

Tracey Schofield

Our team has a strong pipeline of projects, with transactions currently underway across a range of sectors, notably technology and software development sectors, both for fundraising and acquisitions

“Quite notably, we are also seeing activity in the energy market. Climate change has emerged as one of the biggest challenges of our time and there is now a determined focus to meet the major milestone to achieve net zero emissions balance by the second half of this century. “We have no doubt that the energy sector will continue to be a strong area of focus for our team throughout 2021 and beyond.” A&L Goodbody advised Gareth Graham’s Oakland Holdings on the sale of Merchant Square, led by the firm’s head of property, Tracey Schofield. “This transaction epitomises what can be achieved through vision, determination and hard work,” she said. “We acted on the acquisition of this property in 2007, then a 1960s style collection of

buildings known as Ferguson, Royston and Oyster House. We are proud to have been part of the team who have helped the property evolve into one of the most innovative, digitally advanced and sustainable redevelopment projects seen in Northern Ireland.” Meanwhile, TLT has also acted on the deal, advising on the acquisition in collaboration with US law firm King & Spalding International, BDO and SPS Investment. According to Richard Gray, there has also been a continued appetite for fundraising in recent months. That includes working with “among others, Fibrus, as it won the bid to deliver Project Stratum, a £350m investment to roll out fullfibre broadband across NI regional and rural communities, with STATSports as it continued to add sports stars to its shareholder roster and in the life science sector, with Sisaf”.

“Our team has a strong pipeline of projects, with transactions currently underway across a range of sectors, notably technology and software development sectors, both for fundraising and acquisitions,” he said. “For those looking to sell it may not be the best time, but strong businesses that have not been adversely impacted by the pandemic remain attractive to buyers and investors who can see past the short-term issues and focus on the sound fundamentals of businesses. “While there hasn’t yet been a marked uptick in distressed M&A activity, this may change in the most challenged sectors like hospitality, tourism and aerospace manufacturing with the end of government support. “It is always difficult to predict too far into the future, but I am cautiously optimistic about what M&A activity indicates about the economy in 2021.” ■

PROPERTY

New NI home buyer enquiries soar E

nquiries from people thinking about buying a new home in Northern Ireland were the highest on record, according to a study.

“The survey’s indicators suggest that demand will also remain strong in the months ahead. One of the concerns in the market, though, continues to be limited supply.”

The Royal Institution of Chartered Surveyors (RICS) said all members questioned for the survey, carried out with Ulster Bank, reported an increase in March.

Terry Robb, head of personal banking at Ulster Bank, said: “March completed a strong quarter for mortgage demand. “Despite the restrictions in place during the quarter, people have continued to apply for mortgages and move forward with home purchases and house moves. Of course, there are remortgages happening as well.

The growth may be explained by the extension of the stamp duty holiday announced in March. According to the report, more homes were sold in March than the month before. Terry Robb

That left surveyors optimistic for the future, with most expecting the number of houses sold to increase over the next quarter. But even with more home being put on the market, anecdotally, there does not appear to be enough to meet demand. Large numbers of surveyors also reported rising prices in March, with most expecting them to climb further in future.

MAY 2021

RICS spokesman Samuel Dickey said: “The results from the latest survey suggest the decision by the Chancellor to extend the stamp duty break and then taper its expiry has had some impact on demand and activity. “However, underlying demand was already strong, with people making up for lost ground from last year and many seeking to move for more space.

“Looking to the three months ahead, our pipeline suggests that mortgage activity will continue to be strong.” A separate survey published by the Nationwide Building Society last week reported that house prices had grown by 7.4% in the first quarter of the year to an average of £154,012. The study also found the average UK house price was £232,134, a 5.7% increase on a year earlier. ■

INTERVIEW

‘Attracting more women into tech is key’ Emma Pollock, chief of technology at FinTrU, speaks to Emma Deighan about digital finance, her role with one of Northern Ireland’s fastest growing firms, and women in tech here

mma Pollock, the new chief of technology at regulatory tech firm, FinTrU, was a born problem solver.

From resurrecting broken toasters to an early love for physics, the former Citi worker could very well be the poster girl for female careers in STEM (science, technology, engineering and maths) in Northern Ireland. She is one of few females in a senior position in the tech sector here – but Emma isn’t rushing to embrace role model status. “I’m reluctant to accept that title as a role model but I am making a real point this year of using opportunities to share my story and if this is helpful to getting even one female into this sector then that’s great,” she says. “There are a lot of organisations working on attracting women into tech and I think this is an effort everyone must make, not just IT firms. “I think if a pupil is sitting down with a careers teacher look at career options, is it fair to expect that teacher to understand all the options out there? There is a real responsibility for organisations to do some outreach programs and help academical institutions understand the sector. “In IT, and all industries, we need to also look at all aspects of inclusion and diversity moving forward and that’s important not just because it should be the case but because we

need those voices heard in decision making processes. Emma grew up on a farm outside Ballymena. She threw herself into education and describes herself as a “real bookworm who really enjoyed maths and physics”. She went to Cambridge House Grammar School was where she first developed a love of physics. “Back then, in the 1990s, it was different. There weren’t that many computers around and the one with the internet sat in the corner and you weren’t allowed to touch it in case it broke.”

global functions technology at Citi in Belfast.

And so Emma got much of her hands-on experience at home where she would fix broken electrical devices and return them to their fully-functioning former glory.

FinTrU was set up by Darragh McCarthy to meet demand from investment banks for nearshore outsourcing and servicing across a range of areas, including regulation.

“I remember my mum coming to my house and she couldn’t believe I still had the once broken toaster and it was still working.”

In her new role, which she began in January, she leads technology strategy for FinTrU. It was a bold move to make in the midst of a pandemic, but she says: “During the last recession I quit my job and travelled around Europe.

Her passion for problem solving, electricity and logic drew her to a degree in Electrical Engineering at Queen’s University Belfast. That was followed by a masters in the same subject. Emma now has over 16 years’ experience in technology and leadership roles, spanning financial services, telecommunications and cloud storage domains.

“It’s just something I don’t worry about but it took a lot to entice me out of my last role, especially during a global pandemic but I’m more motivated by opportunity. Some of the things about FinTrU that attracted me is how exciting the company is.

Before joining FinTrU, she was global head of communications surveillance R&D and head of

“It was only established in 2013 and today it has over 700 employees spread out across

INTERVIEW

Belfast, Derry, London and New York. “It has real success in solving problems in the regulatory space and for me, that problem space is where I’ve worked over the years and I’m massively passionate about it. “Over the course of my career, I have worked in different domains... but I’ve worked in financial services three times. “It’s very complex, the data is complicated. “And while it may be seen as a little bit boring, it’s massively important. It protects individuals from the actions of Government and corporations and it’s really interesting because regulations are consistently changing, and the tech around it is too.” Emma cites regulations around crypto currency and the adoption of blockchain technology, a system of recording

MAY 2021

information in a way that makes it difficult or impossible to change, hack, or cheat the system, among the most interesting future problems she and her team will have to address. “How are those going to be regulated?” she asks. “If you go to open to a bank account there is a customer process to prevent fraud and make sure you are who you say you are but how do those regulations move across to crypto currency?” And with that growth in new regulations comes a need for new talent and that’s something FinTrU is on the hunt for, Emma says. “We will continue to grow our team. FinTrU had over 400 staff last year and now it sits at around 750. We expect that to grow to around 1,000 this year and there are lots of different opportunities open at the moment.”

She says that even though working from home is the norm for the team, a return to the office is imminent, when permitted. “Covid has really changed the world of work. We saw years and years worth of change in the first six weeks of lockdown last year and in my view, the world of work has fundamentally changed but I don’t see everyone working remotely full time and that’s definitely the case I get from our own feedback. “Our team really does miss the connection but it’s not about all being in the office all the time, or at home all the time, it’s about a level of flexibility. “What’s been most interesting is that jobs people thought couldn’t be done remotely were able to transition and keep going and one of the things that will be interesting to see is how the future of work impacts on regulations in the future.” ■

HOSPITALITY

The Old Inn project team: Charlotte McClean, Andy Johnston and Colin Johnston

Galgorm owners buy The Old Inn hotel T he owners of Ballymena’s Galgorm Resort have bought a Co Down hotel amid plans for further expansion of the Crawfordsburn spot.

develop the property to the rear of the site. Galgorm Collection has now taken on the four-star luxury hotel The Old Inn in a multimillion-pound deal. The company says it’s also investing £1m in the further development and extension plans to the property, which could include a new spa. The company has also confirmed that all existing team members will be retained across the property, which is currently preparing to safely reopen its doors as soon as hospitality restrictions are lifted. “The Old Inn is one of the region’s most historic and appealing hotels, located in a unique and charming location which makes it a perfect fit for Galgorm,” Colin Johnston, Galgorm Collection, managing director, said. The hotel boasts 33 individually styled bedrooms, two wedding suites, and the 78-seater Lewis restaurant. As part of its investment, Galgorm Collection plans to

“With an initial strategic investment of £1m, we are planning to build upon the hotel’s award-winning credentials and extend the site to incorporate a boutique spa with infinity pool, hot tub, sauna, steam room, private cabanas and relax space,” Mr Johnston says. “We’re thrilled to add The Old Inn and its fantastic team to our collection and take this iconic property forward into a new era for tourism and hospitality. We are confident we will be in a position to reopen the restaurant and bar mid-to-late May, based on the easing of Government restrictions.” Meanwhile, the group is also set to open the doors of its new The Rabbit Hotel and Retreat in Templepatrick. The investment is worth around £10m and the group says it’s opening will add another 26 hospitality roles.

It’s set to open its doors on June 18, following the purchase and transformation of the former Templeton Hotel in Templepatrick, Co Antrim. “After more than 18 months of extensive redevelopment and a challenging year for the hospitality industry we’re thrilled to throw open our doors and welcome guests to enjoy this unmatched new experience,” he says. “Not only does this represent a significant investment in the local economy and cements our long-standing commitment to support and grow our tourism industry, but it comes with 26 new hospitality roles which we are currently recruiting for. “With full safety measures in place and a fresh new offering, The Rabbit Hotel & Retreat is the perfect place for reuniting with loved ones and enjoying memorable new experiences and we look forward to welcoming guests this summer.” ■

Export focus

EXPORT FOCUS

Who do we deal with, now?

TEREX

PAT BRIAN, MANAGING DIRECTOR, MOBILE CRUSHING AND SCREENING

“T

erex is a major global player in materials processing equipment and we’re recognised worldwide as a trusted supplier of innovatively designed, high performance products. “Like many companies, Terex has followed post-Brexit trade negotiations closely and worked hard on our export strategy so that we can continue to not only trade effectively with existing markets, but also seek to capitalise on places that may offer attractive new opportunities as a consequence of UK trade deals. “Some of our biggest markets, such as the US and Australia would further benefit from future direct trade agreements and we are also closely watching the situation with respect to the ongoing dialogue with CPTPP (Comprehensive and Progressive Agreement for

Trans-Pacific Partnership, which would improve our access to Pacific nations that we expect to show strong growth potential, including Mexico, Chile, Canada and Southeast Asia. “Currently, our global markets are recovering very strongly from the outbreak of the Covid-19 pandemic, and we are experiencing an extraordinary demand for our products across all of our markets – particularly since the last quarter of 2020 – and the outlook for the rest of the year is very positive. “Since we are conscious that trade deals can take significant time to conclude, we remain focussed on our own export strategy and will continue to serve our customers internationally with products that are designed and manufactured to the highest standards and highly competitive on the world stage.”

EXPORT FOCUS

While Northern Ireland and the rest of the UK tries to adapt, post-Brexit, with the NI Protocol in place, looking long-term, which countries should we be aiming to secure crucial trade deals with to boost business? Ulster Business speaks to three very different companies about the deals they want done in a post-EU business landscape

DECOM ENGINEERING

NICK MCNALLY, COMMERCIAL DIRECTOR

“D

ecom Engineering offers two products to the oil and gas and construction sectors that offer faster, safer and more environmentally friendly solutions – a chopsaw and a pipe coating removal machine. “The chopsaw works on and offshore for decommissioning, demolition and pile cutting whilst the coating removal machine unlocks the value of surplus oil and gas tubulars so they can be re-used in various sectors. “Due to the high capital cost and stringent safety procedures in place for Decom’s equipment, moving cross borders without free trade agreements is a significant commercial barrier. “With a primary focus on the oil and gas regions of the world,

Decom hopes that Brexit can lead to free trade agreements being signed with the US, the Nordics and the Australasia region allowing simpler, quicker access. “Decom often responds to urgent client needs and any delays on custom imports due to trade barriers put us at a disadvantage compared with local solutions and the government needs to do everything it can to help boost the local manufacturing economy by removing these barriers. “For example in a global economy with a global solution Decom often moves not only its’ machinery but also associated goods such as processed steel tubes across multiple jurisdictions. By having appropriate customs relationships in place through free trade agreements Decom can move goods under bond across borders in a fast, efficient manner.” >

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EXPORT FOCUS

IRP COMMERCE

PHILIP MACARTNEY, CHIEF COMMERCIAL OFFICER

“I

RP Commerce’s clients trade goods all over the world through our e-commerce platform. While we have seen enormous challenges presented by Brexit, we do believe there to be some key advantages opening up for our clients, especially those based in Northern Ireland. Our unique trading arrangement has allowed our Northern Irish based clients to trade extremely well in the difficult climate of lockdown.

“Trade talks have stalled and it is our hope that they resume and conclude as quickly as possible. “A fresh deal with the US could open up a host of new opportunities for UK based companies and could be a massive boost specifically for Northern Ireland, with the combination of our unique trading arrangements and the 40 million plus Irish diaspora in the US who highly value their heritage and thus are a keen market for our homemade products.

“Membership of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership is probably the motherload for the UK. This would effectively open up markets that our EU membership challenged.

“Whatever deals are done over the coming months, the most important thing is that Northern Ireland takes full advantage of its unique position in the world.

“Our data shows that the fastest growing markets in global e-commerce trade are the Philippines, Mexico and India, but for IRP and our clients, the greatest opportunity still lies in the economic behemoth that is the US.

“We have the ability to trade between the UK and the EU markets and we have the skills, backbone and infrastructure to do it. IRP will be working hard to make sure that this opportunity is maximised to its fullest potential.” ■

ECONOMY

Improving picture but trading challenges ahead

Ann McGregor

orthern Ireland’s private sector appears to be stabilising but was the only UK region not to enjoy growth, according to a one survey. The latest Ulster Bank PMI survey shows a small contraction in overall economic output here during March, but almost hitting the 50 figure – which means no change. However, the other UK regions showed a boost in March, with some areas – such as the East of England – enjoying a significant surge in overall output. Meanwhile, both the PMI and the latest survey from the Northern Ireland Chamber of Commerce and Industry, with BDO, show rising costs continue to be an issue. According to the NI Chamber, around 53% of manufacturers are expecting to raise prices over the next quarter, while overall business confidence has continued to improve during the first quarter, following on from the large collapse experienced at the start of the pandemic. Looking towards developing and evolving

MAY 2021

Two of the latest economic surveys point to an improved picture for the economy, as it heads towards a full reopening. However, barriers and challenges still remain for many sectors out there, writes John Mulgrew trading arrangements, two in five businesses (41%) reported difficulties in adapting for their business and supply chains, with 14% finding them very difficult, while 15% have found the new arrangements relatively easy to deal with, and a further 18% believe it is too early to say. “Price pressures are emerging as a significant concern from quarter one, particularly in the manufacturing sector. Hikes in the price of raw materials are a significant factor, but we also know that there are multiple other escalating costs contributing, including higher logistics costs and significant additional costs associated with trading during Covid-19,” NI Chamber chief, Ann McGregor, said. “Over the course of the next quarter, we can expect to see a sizable portion of these price rises passed on to the consumer, as firms simply cannot afford to absorb them. “The survey does show that some of the lost ground experienced in the economy since the start of the pandemic has been recovered and confidence is starting to return, particularly in manufacturing. “However, we must temper this with the reality

that large parts of the economy are still shut down, there remains significant spare capacity and many key balances remain negative, meaning that there are still more businesses in Northern Ireland reporting falls in domestic and export sales/orders, cashflow and investment than those reporting an increase.” According to the latest PMI, it was retail which saw the biggest bump in March. That’s likely to increase further with the addition of ‘click-and-collect’ and the reopening of nonessential retail. “The local economy did see a bounce in retail activity in March, but this strong growth in both sales and new orders was coming off very weak levels,” Richard Ramsey, chief economist with Ulster Bank in Northern Ireland, said. “It is also encouraging to note that local firms increased their staffing levels for the first time in 13 months due to job creation in manufacturing and services. While the latter is perhaps on the face of it surprising given the ongoing weakness of service sector output, anecdotally we have heard of hospitality businesses gearing up for reopening.” ■

EXPORT FOCUS

A risk of turbulence As more passenger flights face the chop, high-value Irish exports being flown across the world are facing disruption, writes Sean Pollock

ou would never know what was in the cargo hold of an international passenger flight – and it’s typically more than just your luggage. From fresh dairy goods like yoghurts to lifesaving pharmaceutical products, passenger planes carried some of Ireland’s most valuable exports in their bowels near our sunglasses and sandals as we jetted off from Dublin to sunnier climes such as Dubai. Enda Corneille, the country manager for Emirates in Ireland, said the freight carried by his company’s fleet to Dubai helped Irish products enter markets that they would never reach otherwise – including Donegal crabs. “We would carry almost a tonne of seafood

every day, beef, yoghurts and crisps,” he said. “You would never know what’s underneath the floorboards – a huge variety. “For example, we were carrying a lot of crabs from Donegal, and they would actually be on a restaurant table in China 24 hours after they left Donegal. So, that sort of supply chain can only be facilitated by an airline, and an airline such as Emirates with that kind of network reach.” While demand for Irish-made goods grows at seemingly supersonic speeds, air freight is struggling to keep up. Ireland’s economy is more dependent on exports than most and in 2020 goods worth a record €160bn (£139bn) were sold overseas, of which almost 40% was medical and pharmaceuticals,

EXPORT FOCUS

while the US was the largest single market, accounting for 31% of exports. Covid-19 has dealt a hammer blow to the airline industry, with passenger routes that carry cargo from Ireland to destinations across the world facing the axe. It has meant Irish exporters have been hit with increased costs and issues accessing the services that remain. According to Minister for Transport Eamon Ryan in a recent written answer to a TD, around 60% of all air cargo travels in the hold of passenger aircraft operating regular scheduled air services, with the remainder travelling on dedicated air cargo operators or smaller air operators. A recent report published by the Freight Transport Association Ireland found Dublin Airport handles 35% of all Ireland’s trade by value. The report says that the value of a tonne of air freight is estimated to be 53 times more valuable than a tonne travelling via another mode of transport. The report said that pharmaceuticals, machinery, transport equipment, agriculture, and fisheries all rely heavily on air freight, particularly when there is a need for delivery speed. The cutting of passenger services has placed considerable pressure on Irish exporters in these sectors who use air freight to sell their wares to valuable overseas customers. The pressure is being felt in markets such as the Middle East and Asia, which have been flagged as crucial as we recover from Brexit. Enda says the pandemic’s impact on traveller demand had meant air freight services across the globe were constrained for exporters. For Emirates and others, flights carrying cargo are viable with passengers, but less so without them. Emirates has had to cut its number of flights here from 14 a week, which would carry 700 tonnes of cargo, to just four. According to Enda, even those four flights could be at risk, pointing to hotel quarantine as potentially harming demand and therefore flight viability.

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“The real concern with the recently announced hotel quarantine process [is] is that going to affect even the four flights that are there. Could that reduce capacity even more and therefore reduce capacity for Irish exporters? “So that is a real concern, and we hope it won’t happen, but it certainly had a huge effect on the passenger demand. Not on the cargo demand, which remains very buoyant and still very important, but obviously any further reductions in the schedule would have a direct impact on exporters. That is something that is a concern to us all.” That concern regarding the future of passenger air cargo trade has been echoed by Simon McKeever, chief executive of the Irish Exporters Association. He feels there are long-term implications of losing routes that need to be considered. “Irish exporters and supply chain actors are contending with a number of challenges at present, in particular reduced air cargo capacity owing to international travel restrictions. As an island nation, connectivity is everything, and it is the reason Ireland punches above its weight in the global trading arena.” Paul O’Kane, chief communications officer at semi-state airport operator DAA, noted the air cargo business’s contrasting fortunes at Dublin Airport. The hardest hit had been the cargo handling companies, mainly relying on passenger routes to support their business model. With the considerable loss of passenger flights, much of that business is gone for now or has moved to other modes. “On the other end of the scale, the large integrated and dedicated cargo carriers have seen an increase in business due to the lack of overall capacity in the market,” he said. “As an island, air cargo is vital for Ireland’s economy and connectivity, especially to the North American market,” he later added. To give a sense of the pressure on air freight capacity caused by the loss of some passenger flights, Paul said cargo volumes at Dublin Airport declined by about 18% last year. This wasn’t helped by the fall in scheduled passenger

flights, which led to a 52% reduction in bellyhold cargo. “A lost route is significant to the airport and the country,” Paul said. “For example, where there is an established direct air route, trade between those two regions is four times greater than regions with no direct air route.” Co Kilkenny honey producer Mileeven has experienced issues with air freight. Founder Eilis Gough, who uses air cargo to ship to destinations in the Middle East, Hong Kong and Australia, said time and cost had been the most significant issues for her when exporting goods by air. She said you may have to wait for a week to get a slot to ship products. “The biggest problem is just finding how to get it there, and when,” she said. Eilis has been lucky in that most of her export products are sent through sea freight. However, the additional costs and delays on air freight are affecting what she calls rush orders. Shipping products by sea has also increased in cost, with delays being caused by a shortage of containers. Indeed, since the Suez Canal blockage, there have been media reports of companies across the world switching supply routes to air. For Eilis, the sea shipping issues have been more immediate, with costs around 30% higher. “Generally, shipping from our point of view is difficult,” she said. “It is less predictable than it used to be. “It [exporting globally, including air freight and shipping] takes more time. You can’t assume that anything is the way it used to be.” Emirates’ Enda Corneille is at the air freight sector’s coalface and is also well aware of the issues facing those who ship goods. He said demand for air cargo space remains high at his business, adding there is a wait of around two to three weeks before an empty slot becomes available. Despite the devastating effect of Covid-19, Enda believes we will see more passengers on flights soon. He hopes passenger demand will rebound in September. ■

NEWS

Titanic Belfast using cash reserves to keep afloat By Margaret Canning

itanic Belfast has said it’s relying on the patience of Belfast Maritime Trust to enable it to put off contractual payments in order to stay afloat in the pandemic. The attraction, led by chief executive Judith Owens, has been shut for most of the last year due to coronavirus restrictions.

levels due to a lack of international visitors. However, it said it was hopeful of a recovery later this year: “As one of NI’s key strategic tourism assets and demand generators, Titanic Belfast will be integral to the rebirth and regrowth of the tourism industry in 2021/22.”

A company report revealed its cash at bank and in hand has gone from £4.4m on April 1 2019 to £2.2m at the end of March 2020 as it used cash to keep going.

In the year to the end of March 2020, turnover at the attraction had fallen slightly to £17.1m from £18m in 2019. Pre-tax profits were £3.5m, down from £4.2m, while net assets had fallen from £2.8m to £1.9m.

It had received support from the government furlough scheme as well as a grant of £1.6m from the Heritage Lottery Fund. Dividends paid had gone from £1.65m to £3.75m.

Including tourists and guests of its banqueting and conference facilities, it had drawn 824,479 visitors over the year to the end of March 2020.

The report said that even when the venue had been permitted to open last year, it was operating at around 70% of usual visitor

The business is made up of the visitor exhibition, a centre for conferences and banqueting, three catering outlets and a

shop. There were an average of 266 staff during the year, reaching 292 at peak season. But the report said it had suffered due to the “catastrophic impact” of Covid-19 on tourism, with further coronavirus restrictions the biggest risk facing the company. It said: “The company has been using extensive cash reserves and availing of the government furlough scheme to sustain the business through the difficult period. It owed the Maritime Belfast Fund “contractual commitments of money to be paid relating to a sink fund for exhibition upgrades”. The trust had shown “forbearance,” Titanic Belfast said, and an agreement in principle had been reached for the deferral of payments. Titanic Belfast had also restructured its business to operate as leanly as possible in order to take advantage of regrowth in the market. ■

Regional government

REGIONAL GOVERNMENT

Devolution revisited: a London power grab? Economist John Simpson takes a look at the details within the Dunlop Review, which looks to ensure UK government works in the best interests of devolution

ichola Mallon, Infrastructure Minister, was quick to appreciate policy changes that are emerging from Westminster which pose difficult questions for the future of the arrangements within the UK for the effective devolution of large parts of public services to the Scottish, Welsh and Northern Ireland administrations. Quietly, ministers at Westminster have been preparing for significant constitutional and legislative changes for over two years. In a strengthened role for a new UK Cabinet committee, including the secretaries of state for the devolved territories, the scope for territorial differences through devolved

discretion may be diminished as decision making becomes more centralised. The Dunlop report argues that ‘Government in the UK needs a cohesive and co-operative approach. The report is intended to bring about a stepchange to how government thinks and acts to meet public expectations.’ Almost unnoticed, Lord Dunlop who had held junior ministerial offices was asked to lead a civil service team to conduct a ‘Review of UK Government union capability’. The Dunlop Review, now publicly available, should now be prescribed reading for everyone interested in restructuring the current devolution machinery. The essence of the Dunlop proposals, which

have been endorsed by senior minister, Michael Gove, are that decision making in the UK should be managed with a more direct emphasis on a UK-wide perspective. The concern arising from these proposals, which might be seen as favouring a more centralist emphasis, is that the preferences of devolved administrations in Scotland, Wales and Northern Ireland could be subsumed into a ‘national’ perspective. Central to the Dunlop proposals is the creation of a new senior ministerial post in the Cabinet. The new post as Secretary of State for Intergovernmental and Constitutional Affairs would have responsibility for crossgovernment strategic priorities. This would be

REGIONAL GOVERNMENT

a senior cabinet post for a Minister who would co-ordinate the roles of the secretaries of state for Scotland, Wales and Northern Ireland in Government decision making. The Dunlop Review disavowed any remit to discuss the Barnett formula affecting the finances of the devolved administrations. However, somewhat in contrast, the report suggests that HM Treasury should set aside a UK-wide fund for projects that would strengthen the union. Emphasising the shift in priorities to a more central assessment, throughout the report, the ‘strengthening of the union’ is a recurring theme. What is not clear from the Dunlop Review is

MAY 2021

how this UK-wide fund would interact with the present Barnett allocation system for capital spending. If the new UK-wide fund was explicitly announced as additional funding, that could be a potential benefit as a supplement to the devolved budgets. Since there is no claim to additionality, that must be in doubt. If there is no suggestion of increased capital funding, then the concerns expressed by Nichola Mallon about ambiguities, or disagreements, in decision making need to be resolved. The search for better Government decision making (relying on improved functioning of the Cabinet committee) is confirmed by the supporting recommendation for the establishment of a single Permanent Secretary

Head of UKGG to lead the three offices of the secretaries of state for Scotland, Wales and Northern Ireland supporting the new senior minister and three secretaries of state. Although the Dunlop Report has been published and the thrust of the recommendations endorsed by Michael Gove, as Chancellor for the Duchy of Lancaster, no formal procedural steps have been taken. However, recent comments by the Prime Minister have been consistent with the overall theme. His recent comments on physical connectivity in the form of a bridge or tunnel between Scotland and Northern Ireland will loom large in the way that these ideas are developed. >

REGIONAL GOVERNMENT

Infrastructure Minister Nichola Mallon

There are four areas of policy development which will give directly relevant evidence on the theme of better government of the union. These are:  arrangements for the replacement of the former EU regional funds through the Shared Prosperity Fund  arrangements for the UK Community Renewal Fund  policy decisions on the availability of State aids to support employment  capital funding for projects deemed to be of UK-wide significance Each of these illustrates a tension between UK-wide decision making and allowing discretionary decision making by the devolved administrations. All of them contain a mix of financial decision making, on which the Treasury is unlikely to agree to forgo some form of budget discretion, and arguments that all of them raise questions of regional discretion on which devolved institutions might be expected to exercise the benefits of access to local knowledge.

Alongside these financial questions which will inevitably have to conform to the Treasury veto as a final arbitrator, Dunlop poses a series of wider policy questions on the interrelationships of Government departments. This is illustrated by a key proposal: “The UK Government should urgently address the case for an increased policy presence in Scotland, Wales and Northern Ireland. Permanent Secretaries of departments with substantial reserved responsibilities should be required to produce specific plans outlining how their department will move into [policy] Hubs [in Scotland, Wales and N Ireland].” This proposal, when put in the context of the full range of reserved services may have implications for difficult relations between devolved departments and main stream English services. For example, it is specifically recommended that that BEIS and DIT [the business policy and transport departments] should have more posts in each of the devolved administrations ‘to ensure that local

people and businesses have improved access to these services’. From this suggestion there will be apprehension that ‘big brother (or sister) departments’ will sit uneasily alongside local officials. The Dunlop Rreview sets out to form “a coherent plan to make sure that both the union (of the UK) and devolution sensitivity are a fundamental part of the structure of the UK delivering better governance for the UK as a whole”. In its final form the report places a strong emphasis on more efficient decision making around a central goal of better Government. However, that result almost inevitably challenges the discretion allowed by the present devolved arrangements. Is the objective the most efficient organisational structure or should the inefficiencies and costs of devolution be an accepted part of a complex solution? Unanimity is not guaranteed. ■

First Minister Arlene Foster, Openreach director Mairead Meyer and Deputy First Minister Michelle O’Neill

CONNECTIVITY

Openreach creating 100 new jobs in £100m roll-out

round 100 new apprenticeship roles are being created as part of a £100m investment by Openreach across Northern Ireland. It says it’s continuing its roll-out of full fibre broadband here, and will invest around £100m in capital spend over the next 12 months. Openreach says it will add “at least 100,000 additional premises in NI in the coming year, which will support even greater digital connectivity in the region”. That will include homes and businesses in rural towns and villages across Northern Ireland. And Openreach says it will hire another 100 apprentices over the course of this financial year. Those successful applicants will receive 18 months’ training and an NVQ before graduating as fully qualified engineers. “As a major employer and the largest infrastructure builder in NI, we believe Openreach can play an important role in helping the region to build back better

MAY 2021

and stronger,” Mairead Meyer, director of Openreach in Northern Ireland, said. “We’re now looking for more people to join our multi-generational team and to build a career at Openreach and I’m delighted to announce a further 100 new apprentice roles in the coming year. We take great pride in being an inclusive and diverse place to work, creating a supportive working environment and providing opportunities for development and growth. “We’re encouraging anyone, no matter their background or experience, to apply and join us on the journey to build a network that will support the people of Northern Ireland for decades to come.” First Minister Arlene Foster, said: “I welcome the commitment by Openreach to enhance and extend digital connectivity in Northern Ireland over the next 12 months. The £100m investment plan will mean that well over two-thirds of homes and businesses here will have access to its ultrafast full fibre broadband network.

“This pandemic has shown us how important online services are to how we live, work, and engage together. Greater access to fast, reliable connections will make a real difference to people’s lives and will also play a key part in the recovery and renewal of our economy. “Importantly, this investment will also focus on the skilled workforce of the future with the creation of 100 new apprenticeship roles who will be supported to achieve engineering qualifications.’’ And Michelle O’Neill, Deputy First Minister said: “This investment of £100m by Openreach is hugely significant and very welcome as we work towards economic and societal recovery. I’m particularly encouraged by the muchneeded job opportunities that will be provided through the creation of 100 new apprentice roles. “Online connectivity is absolutely crucial to our economy and in our daily lives. The way people work, learn, do business and connect with one another means that access to quality broadband has never been more important.” ■

TECHNOLOGY

What should your next Android device be? Which top Android phone is worth your attention? Which one should you give a miss? Here’s a guide to the ones to target for your next upgrade and the ones not to bother with 1 Samsung Galaxy S21 Ultra 5G PRICE: FROM £1,149 RATING: 8/10 Strengths: joint-best cameras on an Android, great screen, overall top performer Weaknesses: most expensive mainstream flagship prices, no charger in box Specs: 12GB/16GB Ram, 128GB/256GB/512GB storage, Samsung Exynos chip, 5,000mAh battery Verdict: It may be the most expensive phone and come without a charger, but this is still the top Android flagship phone on the market. The 6.8-inch S21 Ultra has the best overall cameras on Android (and, in some instances, beats the iPhone 12 Pro Max) and at least matches its Android ultra-rivals for screen performance. It’s also very nicely designed. As well as being 25% brighter, this year’s ‘Ultra’ display is the only one that gives you the opportunity of having the ultra-high screen resolution at the full 120hz refresh rate. Samsung normally doesn’t allow this as it leads to a faster drain on battery life. But they’ve shoved a much bigger 5,000mAh battery in there to help remediate against this. Another element that separates this Ultra model is the camera setup. The Ultra has five camera holes on the back, compared to the three on the other two S21 models. One of those, a second optical zoom, has been added to satiate Samsung’s lust in becoming the top zoom cameraphone in the world. Overall, it works; the addition of a 10x optical lens to a 3x optical

lens improves zoom ranges for most situations. Yes, the 100x ‘space zoom’ is still usually blurry and hard to use, but I’ll give it a pass because nothing else even tries to do this. The addition of a laser to help focusing is also there to steady the ship. Unfortunately, Samsung put its own Exynos 2100 processor into the S21 Ultra models we get in Ireland and Britain, compared to the Snapdragon 888 in the US variants. The Exynos isn’t quite as good.

TECHNOLOGY

2 Oppo Find X3 Pro PRICE: £1,099 RATING: 8/10 Strengths: top screen, very powerful, great all-round user experience Weaknesses: a bit pricey and zoom lens is modest Specs: 12GB Ram, 256GB storage, Snapdragon 888 chip, 4,500mAh battery Verdict: This is one of the most pleasant surprises of 2021 so far. Other than a slightly weak zoom lens, Oppo has nailed it: the Find X3 Pro is probably the most user-friendly flagship Android phone launched on the Irish market this year. It has top-end engine power, a really superb 6.7-inch display, one of the best Android OS implementations and some really fun extras, such as a microscopic camera among its (generally great) rear camera array. Even at a price that feels a tad high for a challenger brand, it’s a genuine contender at the top of the Android pile.

The 6.7-inch display, for example, more than hits the required metrics, with an excellent 120hz dynamic refresh rate, a super-bright 1300 nits and a pretty stunning quadHDplus (1440p) resolution. It’s also more ergonomic to use than some rivals thanks to its 20:9 format and relatively light weight. Its engine delivers with a beefy 12GB of Ram (more than most laptops), an ultra-fast Snapdragon 888 processor (which beats Samsung’s S21) and 256GB of storage. There is just about zero lag when you do anything at all on it, short of the most intensive gaming flow. Speaking of power, here’s a novelty: this comes with a charger in the box. And not just any charger, but a 65-watt fast charger that brings it up to about half full in 15 minutes. The phone also supports reverse wireless charging and can itself wirelessly charge at 30 watts.

The Android also-rans OnePlus 9 Pro PRICE: £920 RATING: 6/10 Strengths: great screen, nice design, fast charger Weaknesses: relatively modest engine, storage and battery life, camera still behind rivals (despite Hasselblad hookup) Specs: 8GB Ram, 128GB storage, Snapdragon 888 chip, 4,500mAh battery Comment: OnePlus has been known as the affordable device brand that matches flagship specifications. But its 9 Pro model has a flagship price without matching some specifications of its biggest rivals.

MAY 2021

Huawei P40 Pro+ PRICE: £999 RATING: 6/10 Strengths: joint-best cameras on an Android, great design Weaknesses: no Google Play store, specs now a little old Specs: 8GB Ram, 256GB storage, Kirin 990 chip, 4,200mAh battery Comment: Without the Google ban, this would be much higher up the pecking order, even despite it being last year’s model. This is largely because Huawei’s camera systems are generally the best or joint-best. But even though you can sideload many of your normal apps onto it, the absence of Google’s Play Store is just too awkward for many.

3 Asus Rog Phone 5 PRICE: £799 RATING: 8/10 Strengths: unmatched for gaming and battery life Weaknesses: a little heavy Specs: 16GB Ram, 256GB storage, Snapdragon 888 chip, 6,000mAh battery Verdict: If gaming is an important consideration for you, Asus’s new Rog 5 really can’t be touched among this year’s flagships. I’ve never used a smartphone that comes close to this one on that front. For that matter, I’ve never used a phone as muscular or as fast. This 6.7-inch phone is simply a beast: 16GB of Ram on top of a Snapdragon 888 processor. If you go for the ‘Ultimate’ model variant, you get even more – an insane 18GB of Ram and 512GB of storage. It also has an astonishing 144hz display, just about the fastest screen on the market. And its speakers are also the best on the market, if you want to take a break from headphones. Add this to 65-watt charging, a huge 6,000mAh battery and some specialist accessories (like an attachable Aeroactive Cooler fan that keeps it cooler during gameplay and a custom game pad) and you have the standout gaming handset of the year so far. It’s not perfect: its camera system doesn’t have a telephoto zoom lens, for example. But for anyone who likes to dip into some shooters or role-playing games and is looking for an alternative to the usual flagships, this is it.

PODCAST

The Ulster Business

Podcast The Ulster Business Podcast has now marked its one year anniversary, and more than 40 episodes. We take a look back at some of the recent highlights

EPISODE 42 – PADDY GRAHAM

ompanies are continuing to see growth and seeking out opportunities and mergers amid the Covid-19 crisis, it’s been claimed. Paddy Graham of investment fund BGF, says its portfolio of companies has been “extremely robust” over the last few months, with many businesses also experiencing growth during the period. BGF was set up in 2011 and has invested more than £2.2bn in over 330 companies. Paddy, who heads up its Northern Ireland and Scotland operations, says it has invested around £50m here over the last few years. “BGF has been going for about 10 years and since we formed we have now invested about £2.5bn across the UK and Ireland and we are at a rate where we are now investing around £400m a year,” he said. “That is what we did last year in 2020. In Scotland and NI, the regions which I’m responsible for, we have invested just over £300m over the years, with about £50m in Northern Ireland.” Paddy says while Covid has presented challenges for both it, and its firms, that it’s weathered many of the issues and continued

to invest and work throughout the pandemic. “It’s had its challenges,” he said. “We are working from home. That’s a challenge as our business is about building relationships with management teams. We like to do that being on the ground and face-to-face. “But we have been using Zoom and Teams which has been critical for us to transact. But we are also fortunate that we’ve know management teams for a number of years before investing in them. “Our most recent (investment) was with Decora (Lisburn blinds company). That is a very successful family-owned business of some scale. “We knew the family for at least a couple of years before the deal and we invested into the business to provide a bit of a war chest to go and pursue an M&A strategy... also keen to have us around the table and access to our network. “The business has been expanding its e-commerce operations and Covid has been an additional driver of that. “About 60% of our deal flow is through us

actively engaging in the market, building our network and knocking on doors and meeting the businesses. “The other is a mix of introductions from our network… we can’t and won’t rest on our laurels and just expect things to come to us, because that isn’t how our market operates. It’s making the effort and going out and meeting the companies directly.”

PODCAST

“There are a few reasons for that. It’s not straightforward times, but they have pivoted in different areas. The trend towards e-commerce and developing business models in that regard… there is a lot of opportunity for M&A at the moment, as there are businesses which are being challenged or people wanting to exit. “Our companies have been pretty inquisitive. We have supported that across the board. That has been extremely pleasing. “The management teams have done a fabulous job in making sure all the companies are Covid safe, adhering to the guidelines. There has been a significant amount of work put in by all the companies.” And asked about the reopening of the economy, which will now see businesses opening gradually across April, May and June, he said: “From a pure business perspective there is a desire for reopening as soon as is feasible. We recognise that it needs to be a sensible and measured exit from lockdown, which hopefully, in conjunction with the vaccination programme, will ensure that we avoid another lockdown, which would be particularly damaging. “For us, it’s the focus on making sure the companies are doing everything possibl,e as are we as a business, to make things Covid safe, adhering to the guidelines, and when things do open up that we are ready to capitalise on it.

Speaking about the challenges facing firms here over the last few months, he said: “The challenge was the operational impact to those businesses and the unknown. “So we spent a number of months working with those companies to get an arm around what the impact could be in theory, and supporting the businesses where possible. Whether that is funding or strategy.

MAY 2021

“Pleasingly, the portfolio has been extremely robust during this period. If anything, on a net basis it has grown and has done well.

“(For example) Bob and Berts (cafe chain) has clearly been impacted with the closure of their stores but they have moved to clickand-collect and other things to help see them through, and are continuing to expand.”

Listen to the podcast at www.ulsterbusiness.com/interview, on Spotify, SoundCloud and iTunes

GARY MCNEILL ALUMINIUM AND PLASTICS SYSTEMS

How is business? We’re very busy. Sales in March were the highest for the month of March since we were formed 20 years ago. Had it not been for the six weeks we were closed because of Covid, we probably would have had a record-breaking year. While we have been getting busier during the last year, a lot of people are spending money on home improvement type products because they’re now spending more time in their houses. The other divisions in our business have been growing steadily over the last number of years anyway, so they’ve just added to that in the last 12 months. How did you get started in the industry? I started off as an assistant accountant just to get industry experience in accounting and not long later I became an accountant. Before I joined Aluminium and Plastics Systems (APS), I was the financial controller of Reynolds Metal Company and then when we started APS, I became a director and shareholder, so I then became financial director; pretty much the same job and same activities, but just a different title. Typically, who are you customers or clients? We have four divisions, and each has a different range of clients; engineering customers to signage companies to your man in the street doing their own home improvement with decking or PVC to large window manufacturers, some of the largest in Ireland, and then into aluminium windows. Anyone who deals with aluminium windows in Ireland is our target customer and I would deal with most of them. Some more than others, of course. Do you enjoy what you do, and what in particular? I do. It’s a varied role. When you work for a corporate you have a set job specification but when you work for yourself you end up having to do any task that’s required. So, instead

Entrepreneur of the Month of just accountancy, it ends up being credit controller, dealing with banks and insurance companies, dealing with customers and overseas buyers plus all the personnel problems that come along – health and safety, Covid-19, you name it. Whatever comes through the door, we have to deal with it individually and collectively. What is the most difficult part of your job? I’m not particularly fond of the personnel side of the job. Accountancy is more my forte and personnel is something I’d prefer not to have to get involved in. Disciplinary issues are the most challenging. The more staff you have, the more disciplinary issues you seem to have.

or by Covid, no one really knows, but every product has gone up in price between 10-25% in the last three months. That’s a big issue. Sourcing material from overseas is becoming a bigger issue with a shortage of containers in China and we’re looking at places as far as India now to source materials as well as China. There’s tariff issues with EEC putting tariffs on Chinese aluminium coming into Europe. We’re not a huge company and cash is king, so we have to make sure we buy wisely. Sometimes you’re buying material and, by the time that it arrives, the price could have risen or fallen before it even arrives at your door.

What are the challenges facing your sector, and the economy in general? Lead times are very slow at the minute throughout the UK, Europe, Asia, wherever. Our computer system that allows us to import materials from the UK is giving us some issues. There are added costs and a slowing down of the whole process.

Everyone has got their challenges, but this is what we’re facing at the minute. Where there’s inflation, we’re very wary of entering into long term contracts for products because if you buy your aluminium a year ahead and your price drops substantially, then your margin goes. Normally there isn’t the same fluctuation in prices, but the first quarter of this year has seen very large rises.

General Brexit problems have caused the whole industry to put their prices up. Now, whether it’s been caused by Brexit or caused by China

Therefore, we’re not sure whether they’re going to last given we’re not sure what’s really causing it all. ■

Motoring By Pat Burns

MAY 2021 APRIL 2021

MOTORING

Mazda goes fully electric

azda’s highly anticipated first allelectric production vehicle – the MX-30 has just been launched. This stylish and versatile crossover EV features an AC synchronous electric motor and a 35.5kWh lithium-ion battery that delivers a range of approximately 124 miles and comes with AC charging up to 6.6kW and DC rapid charging designed to meet 125A combo charging standards.

Mazda’s preferred partner NewMotion ensure MX-30 owners will be ready for charging convenience.

Available across three generously equipped model grades – SE-L Lux, Sport Lux and GT Sport Tech, the three-model line-up complements the First Edition which is already in dealerships.

The £27,545 MX-30 Sport Lux promises to be a popular model in the range. It features 18-inch bright metallic alloy wheels and sees an increase in standard equipment with the addition of power seats, lumber support adjustment and smart keyless entry.

Standard equipment on all UK MX-30s includes LED headlights with daytime running lights, reversing camera, Mazda radar cruise control with intelligent speed assist, navigation and head-up display. Each MX-30 comes as standard with a type two AC charging cable and a socket for 50kW rapid charging, which can in just 36 minutes deliver up to 80% battery charge. In addition, packages for home charging solutions from

The first opportunity to order and take delivery of this unique, stylish and driver focused Mazda BEV – the £27,495 MX-30 First Edition is available with a choice of ceramic metallic or polymetal grey metallic single colours.

The range-topping GT Sport Tech costs £29,845 with a light grey cloth interior trim and £30,045 when equipped with a dark grey interior and brown artificial leather. The range topping GT Sport Tech MX-30’s equipment tally includes a front wiper de-icer and a power and tilt sunroof, while inside a heated steering wheel and 12-speaker Bose surround sound compliment the generous standard specification.

All MX-30s come with a comprehensive standard safety specification, while GT Sport Tech adds to this with a host of extra active safety technology and a 360-degree view monitor. Across the entire MX-30 range and the limited-edition First Edition, the MX30’s distinctive, stylish and sustainable cabin features high-quality materials and a driver focused interior. The lower console incorporates a seven-inch colour touch-screen air conditioning control panel, and in a nod to Mazda’s founding as the Toyo Kogyo Cork Company in 1920, the Mazda MX-30 features cork lined centre console trays and inner side door handles. Harvested from the bark of trees without felling, the use of cork and door trim materials that incorporate fibres from recycled plastic bottles, are perfectly suited to Mazda’s first pure electric production car. Externally, the MX-30’s looks will leave a strong impression. The front doors open forward to an angle of 82 degrees, while the rear doors open backwards to an angle of 80 degrees to reveal a wide opening to the interior. ■

MOTORING

Hybrid Kuga joins Ford’s line-up F

ord has further expanded its lineup of electrified Kuga SUVs with the new Kuga Hybrid – able to deliver over 600 miles of petrol-electric and pure-electric driving between fill-ups and without ever having to plug in to recharge.

This new model is one of 17 Ford electrified vehicles to be introduced for customers before the end of next year and joins the Kuga Plug-In Hybrid and EcoBlue Hybrid 48volt mild hybrid variants, alongside traditional petrol and diesel engines for a comprehensive range of powertrain options.

The self-charging Kuga Hybrid’s 1.1 kWh battery is automatically recharged both by the 2.5-litre Atkinson cycle petrol engine and using regenerative charging when coasting or braking. Stored energy powers an electric motor to enhance performance, support petrol engine fuel efficiency, or deliver pure-electric driving. The Kuga Hybrid automatically switches seamlessly between power configurations according to the driving requirements.

The ability to travel over 600 miles on a single tank of fuel makes the Kuga Hybrid a compelling alternative to diesel powertrains. Delivering fuel efficiency from 48.7mpg and CO2 emissions from 130 g/km WLTP3 from the 54-litre fuel tank, the new Kuga Hybrid total driving range is also more than 30% greater than that of the Kuga Plug-In Hybrid.

The new model’s full-hybrid powertrain is unique in the Ford Kuga line-up – delivering the efficiency and refinement of pure-electric power with no need to charge from an external power source, alongside the dieselrivalling convenience of over 600 miles total driving range.

MAY 2021

With no need for customers to use an external power source to charge the battery, the Hybrid offers an attractive choice for customers desiring an electrified powertrain, but who have limited access to external charging solutions at home or places of work. The 60-cell, 1.1 kWh battery pack uses a liquid cooling system that eliminates the

need for a cooling fan, helping reduce noise levels for greater cabin refinement. Optimised cooling also allows battery cells to be packaged closely together – helping retain spacious interior dimensions including more than one metre of headroom for front row occupants and up to 1,481 litres of cargo space behind the front seats. In addition, an exhaust gas heat exchanger system helps bring the engine more quickly to its most efficient operating temperature, enabling the hybrid to engage pure-electric driving sooner following a cold start and helping quickly warm the cabin for passenger comfort. Enhanced battery performance also contributes to towing capacity of up to 1,600 kg. Meanwhile, 0-62 mph acceleration takes 9.1 seconds while the simulated gear-shift function – activated in normal or sport drive modes – automatically adjusts engine rpm as the vehicle’s speed changes to reduce the ‘rubber band’ effect often associated with continuously-variable transmissions. Priced from around £33,590. ■

MOTORING

Touareg gets the R treatment

he Volkswagen Touareg R is the first fully-fledged production R model to be launched with an electrified powertrain. Capable of both impressive performance as well as ultra-low emissions, the Touareg R features a petrol plug-in hybrid system producing 462 PS and 700 Nm of torque. The Touareg R boasts a multitude of talents, with performance worthy of the R badge sitting alongside impressive economy. It is the most powerful production Volkswagen to date. Its 0-62 mph sprint time of 5.1 seconds accelerates the Touareg R into the territory of the brand’s other R models, and is within half a second of the Golf R’s 4.7-second figure. Like the aforementioned Volkswagen performance champion, the Touareg R’s top speed is limited to 155 mph (where permitted). A maximum of 70% of the car’s torque can be transferred to the front wheels, and up to 80% to the rear axle, via a centre differential lock with asymmetric torque distribution (Torsen) acting as a transfer box. At the heart of the Touareg R is a sophisticated 3.0-litre V6 TSI eHybrid plug-in powertrain.

Not only is it powerful, but it is also smooth and refined and, moreover, is frugal enough to make the R the most running-cost-friendly model in the Touareg range, with fuel economy and Co2 emissions of 94.2 mpg and 67 g/km (WLTP combined cycle) respectively. A 28-mile electric-only range accessible in the Touareg R’s E-mode adds to the model’s low-Co2 credentials, with the 14.3 kWh (net) battery reducing running costs for this versatile performance SUV. The Touareg R is not only a performance stand-out in the Volkswagen range, but is also comprehensively laden with features, with numerous innovations combining to represent considerable value against competitors, as well as an equipment list that marks the newcomer out as a technological tour-deforce. The R also benefits from a unique heated leather sports steering wheel with R logo and DSG shift paddles, 30-colour interior ambient lighting, and a keyless locking and starting system. The interior is further stylised with illuminated, R-branded scuff plates, diamondquilted leather panels in the door cards, and blue highlights on the carpet mats.

The standard equipment list builds upon that of the Touareg Black Edition, which means the Touareg R also features an air suspension system with automatic self-levelling function, height adjustment and electronic shock absorption control. A park assist package with 360-degree area view camera adds to the convenience offered, while the intelligent IQ. Light LED matrix headlights – first introduced on the Touareg in 2018 but now offered on multiple models including the Golf – use information from the car’s front camera, navigation data and GPS information, steering angle and speed of travel to optimise lighting for numerous driving situations. The system also incorporates LED daytime running lights, LED rear lights with dynamic turn signal, and dynamic light assist highbeam control. Like the Black Edition, the Touareg R also counts a panoramic sunroof among its vast list of standard-fit equipment. Charging an empty battery in this way will take two and a half hours, while using a household three-pin socket will take eight and a half hours. The model starts at £71,995. ■

NEWS

Barclays appointed banking partner for Game of Thrones attraction Gavin Campbell, Barclays with Mark Johnston and Andrew Webb of Linen Mill Studios

arclays has been appointed the new corporate banking partner for NI’s newest tourism attraction, Linen Mill Studios, after agreeing a £10m loan. Linen Mill Studios in Banbridge was one of the locations for the filming of HBO globally acclaimed and award-winning TV series, Game of Thrones, which is set to open this summer as a tourism experience. The launch will coincide with the 10th anniversary of Game of Thrones. The tour will be another stop for fans of the fantasy TV series who – pre-Covid – flocked to spots like Ballintoy Harbour, Castle Ward and the Dark Hedges to follow in the footsteps of its characters. It’s being developed under licence with WarnerMedia and will turn the 10,000 square metre film studio into an interactive visitor attraction housing set pieces, props and costumes from the series. The tour will also promote the creative industries behind Game of Thrones. The deal between Barclays and the attraction

MAY 2021

represents a £10m term loan, which will partfund the £36.5m development. Linen Mill Studios is owned by two family-run businesses, Northern Ireland group John Hogg and Company and US-based Stephens family of Stephens Inc. The development is due to complete in summer. It’s tipped to provide a boost to the economy and tourism industry. The attraction is expected to bring in 600,000 visitors a year and help generate around £400m of tourism revenue over a 10-year period for Northern Ireland, supporting almost 200 jobs. Barclays relationship director Gavin Campbell said: “Given our international footprint we have always believed that Barclays was the ideal banking partner for this global project and we are delighted that we could support Linen Mill Studios in this exciting development. “Our relationship model, which brings industry expertise, has already added value to the project and we will continue to provide operational accounts and industry support as the team continues to build out its processes. “We have been impressed by the management

team’s dedication and foresight to deliver an eco-friendly, world-class attraction which will celebrate the impact Game of Thrones has had on Northern Ireland.” Andrew Webb, director of Linen Mill Studios, said: “With Barclays’ support, we are now gathering momentum towards opening one of the most exciting visitor attractions in Northern Ireland’s history later this year. “Just the prospect of a Game of Thrones Studio Tour has already generated huge excitement and interest among fans around the world and we expect our opening to play a significant part in underpinning Northern Ireland’s economy and rejuvenating the tourism sector on the island of Ireland in the wake of the coronavirus pandemic.” Linen Mill Studios also secured £3.5m of funding through Whiterock Finance’s Growth Finance Fund and Growth Loan Fund II. Last year it emerged it also been also allocated £10m in the form of a loan from the Department for the Economy. Details were included in a September NI Audit Office report on Covid-19 spending.

ANALYSIS

FanDuel listing in US should lift Flutter share price to new heights Richard Curran looks at the future of US sports betting giant FanDuel – set up by Co Tyrone man Nigel Eccles – as it eyes up an IPO in America

hen it comes to timing, gambling giant Flutter usually gets very little wrong. It identified the burgeoning US gambling opportunity early and landed a controlling stake in the American market’s biggest online player – FanDuel. It consolidated its global online position when it merged with the Canadian Stars Group last year. Next up is a possible separate listing or IPO of FanDuel in the US. On the face of it Flutter seems to have got its timing absolutely right here. FanDuel is now the number one player in online in those states where online gambling is allowed. Its nearest rival, DraftKings has a valuation that is well in excess of the value the market appears to be placing on FanDuel. Some investors and analysts have suggested FanDuel is trading at a 33% discount to DraftKings because it isn’t a standalone. If you want to own a piece of FanDuel, you have to buy Flutter shares, which includes a complex group operating in the UK, Ireland, Australia and lots of other markets. Potential American investors who can see the explosive growth in online gambling in their country would like the idea of a straight punt on the US market. Flutter shares have tripled in value in a year yet, its American operation still appears to be

valued at less than its smaller US rival.

FanDuel make earnings yet.

Brokers estimate that a 10% listing of FanDuel shares could bag around $2.1bn (€1.8bn) in cash while also lifting the overall value of Flutter by a staggering $18bn.

They slug it out for market share and this comes at a cost. FanDuel’s website is offering new customers up to $1,000 risk-free bets if they sign up for their Sportsbook app.

This is based on assumptions that FanDuel would be valued on a similar level to DraftKings. DraftKings had $644m in revenues last year while FanDuel had $967m.

Grabbing these brand new punters at a loss is the order of the day. Squeezing them will come later.

But there are some potential flies in the ointment. Firstly, FanDuel isn’t fully owned by Flutter. Other shareholders might want to hold onto as much of the upside that appears to be coming for FanDuel, as the US gambling market opens up even more. Flutter estimates it could be worth $20bn by 2025. Another potential complication is Rupert Murdoch’s Fox Sports which has an option to acquire 18.5% of FanDuel later this year, and the option remains in place for 10 years. Fox Sports will not want to see a successful listing and a rocketing share price ahead of exercising that option, on the basis that it could influence how much it ends up paying to exercise that option in the future. However, it seems unlikely that Flutter would confirm that it was considering an IPO for FanDuel, as it did during last week, unless it had ironed out Fox’s views on it. These businesses and their valuations are all based on the future of the market. Neither the $28bn DraftKings or the potentially $35bn

A small number of free floating shares in FanDuel are not likely to have huge liquidity. But every increase in the share price places a positive spotlight on the potential of what Flutter has in the US, and thereby should push up its share price. Legalising online betting in the US is seen as one potentially useful source of new tax revenues after the pandemic. This forms part of the tailwind that is driving forward the market in the US. Initially, the various states will have to play the politics of opening up the laws, and around ten already have. Further down the road they will have to play cat and mouse with the betting companies around how gambling is marketed and regulated. American states have lots of experience of banning gambling. They will soon have to figure out how to regulate it. Meanwhile, Flutter could not be better placed to get the most out of that opportunity. ■

ANALYSIS

MAY 2021

APPOINTMENTS

Shona O’Hea has been appointed as the first dedicated financial services partner in Grant Thornton Ireland’s Financial Accounting and Advisory Services (FAAS) business unit. Jonny Crawford is now sales manager at Acorn IT Solutions. He brings 18 years’ worth of sales experience across multiple industries in different roles from entry level to management. Bo Brustkern has been appointed to the board of directors of FinTechNI. It’s the independent, not-for-profit industry association representing Northern Ireland’s rapidly growing financial technology community.

Grant Thornton Ireland has appointed Sinead Donovan as its new chair. Ms Donovan joined Grant Thornton Ireland in 2002 and was appointed partner in 2005, becoming the first female partner within the Irish firm. Sonia Armstrong has been appointed media sales manager at George Best Belfast City Airport. She will manage the sale of space across the airport’s many internal and external advertising locations, each reaching a wide audience. The Norton Motorcycle Co Ltd has appointed Sir Ralf Speth to the board of directors of its parent company, TVS Motor Company.

One of Northern Ireland’s fastest growing technology companies, Decision Time, has appointed Patrick McAliskey as its new chairman. Isobel Allison has been appointed HR business partner at Moy Park’s Craigavon site, where she will be responsible for delivering best in class HR practices to the wider Moy Park team. The board of Enterprise Ireland, the agency responsible for the development of enterprise in the Republic of Ireland, has announced the appointment of its new chief executive, Leo Clancy.

APPOINTMENTS

Dickson and Co Insurance Limited has appointed Gavin Mitchell as director. Mr Mitchell is an experienced director who has moved from Royal Sun Alliance Insurance in Belfast where he led the team for five years as managing director. Keith Balmer has been appointed software consultant at WorkPal where he will be responsible for generating new sales leads for the business’ mobile workforce management software. Radius Housing has appointed Martin Pitt as its new chairman. Mr Pitt was previously audit partner at PwC. He brings considerable expertise in financing and risk management gained over many years in the social housing and public sector.

Jenni Gowdy has been appointed director of business, Tesco, at Moy Park. She is responsible for overseeing and further developing Moy Park’s relationship with one of its longstanding partners. Belfast Distillery Company has laid the ground for significant growth this year and has appointed experienced industry figure John Kelly to lead the organisation. FinTechNI, the independent association representing Northern Ireland’s rapidly growing financial technology community, has appointed Andrew Jenkins to its board of directors.

Hardware Association Ireland has announced that it has appointed Wavin’s Irish country director Michael O’Donohoe as its new president. Brian McCrory has been appointed as chief operating officer for OSG Cloud. With responsibility for the leadership and development of OSG Cloud he will play a pivotal role in meeting the company’s aggressive local and international growth plans. Daniel Eastwood has been appointed as lending manager with Ortus Secured Finance. Mr Eastwood with be based at the Belfast office of the company.

MAY 2021

1 PHOTOCALL

1. Tourism NI and Tourism Ireland have hosted a series of virtual showcases. Pictured at Titanic Belfast are Ciaran Doherty, Tourism Ireland, Economy Minister Diane Dodds, Judith Owens, Titanic Belfast and Naomi Waite, Tourism NI.

2. Farm owner Drew Fleming, Declan McAleer MLA, president Ulster Farmers’ Union Victor Chestnutt, with Agriculture Minister Edwin Poots. The minister was visiting businesses in the Owenkillew River area to discuss the ongoing impacts of the August 2017 flooding and subsequent land slippage.

3. Vickerstock has formed a new partnership with CAFRE, Northern Ireland’s College of Agriculture, Food and Rural Enterprise. It will sponsor four students in their certificate in packaging materials as part of their diploma. Pictured are Paul Muir and Ron Gardiner.

4. The public is being asked to help raise funds for life-saving charity Air Ambulance Northern Ireland and be in with a chance of winning a host of prizes. Pictured is Colleen Milligan, Air Ambulance Northern Ireland.

5. Alan Stewart, business development and marketing manager at fit-out firm Marcon, has been elected as president of the National Association of Shopfitters (NAS).

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6. The production team of She Cries at Night is pictured. It was produced by South Eastern Regional College (SERC) and has won Best Scripted category at the Royal Television Society (RTS) NI Student Awards 2021.

7. Chris Furey, director of the Furey Smyth Group at the launch of the new Solus Lighting Centre at Eurospar Lucan, and across seven Eurospar stores in Ireland.

MAY 2021

8. Patrick McCafferty and John Kearns are pictured launching Belfast Eats. It’s a new online ordering app, focusing solely on selling food and drink for independent Belfast businesses.

9. Karl Simmonds (33) has transformed his breadmaking hobby into Portrush’s newest bakery, Flat & Brown Bakehouse, thanks to help from the Go For It programme in association with Causeway Coast & Glens Borough Council.

10. Horticulture students can now study for an honours degree in Northern Ireland, Agriculture Minister, Edwin Poots has announced. Pictured is Dr Konstantinos Xyntaris, senior horticultural technologist at Greenmount.

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11. Morrow Communications’ director Claire Bonner is pictured with Orlaith Strong, Sinead Armour and Dominic Lyttle as the company celebrates being awarded the PRCA Gold badge standard.

12. Translink has received the first three of 21 new train carriages made by Spanish train manufacturer CAF marking a major step in the development of the local rail network. Pictured is Infrastructure Minister Nichola Mallon with Translink boss, Chris Conway.

13. Brian Craig, Kiivsach Bradley and principal Paul Berne, Edmund Rice College and Infrastructure Minister Nichola Mallon. The minister has announced that new part-time speed limits on roads adjacent to 103 schools are now being implemented.

14. Ulster Bank has partnered with Belfast Chamber of Commerce to deliver a series of events aimed at the city’s business community. Pictured are Aileen Lagan, Ulster Bank, Dr Roisin Molloy and Julie Brien, TriMedika along with Simon Hamilton, Belfast Chamber.

15. Belfast-based waste recovery specialist RiverRidge has invested in an integrated vehicle camera and telematics solution to maximise driver safety and compliance. Pictured are Harry Girvan, Mantis Live, Andrew Frizzell, and Tony Kirkpatrick, RiverRidge.

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16. Launching the Belfast Harbour Community Awards Fund are Lorna Hunter from Belfast Harbour Police, Ryan Ball, operations engineering apprentice at Belfast Harbour, Stephen Deering, surveyor at Belfast Harbour and Joe O’Neill, Belfast Harbour’s chief executive.

17. KP Snacks has teamed up with Four Star Pizza to celebrate the launch of their new products McCoy’s Fire Pit and the Bee Sting, and Korean BBQ pizzas. Pictured are Amy Finlay, Ricky Watts and Stephanie Ginn.

MAY 2021

18. The Northern Ireland Chamber of Commerce and Industry (NI Chamber) has announced that Randox, the UK and Ireland’s largest diagnostics company, is its newest ‘patron’ organisation. Pictured is founder, Dr Peter FitzGerald.

19. Jamie Campbell and Education Minister Peter Weir pictured as Business in the Community is calling for employers to provide the hardware, data and digital skills needed to support young people to ensure they have the digital tools needed for learning.

20. Pictured with the Economy Minister Diane Dodds (centre) at the launch of the NI Apprenticeship Week 2021 are Will Bradley and Colleen O’Boyle, joint winners of the Higher Level Apprentice of the Year 2020.

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21. Barclays has announced that it has been appointed as the new corporate banking partner for Linen Mill Studios, the location for the filming of Game of Thrones. Pictured are Gavin Campbell, Barclays with Mark Johnston and Andrew Webb of Linen Mill Studios.

22. Fibre network specialist, Viberoptix has launched a new training facility which will help local people benefit from opportunities in the growing sector. Pictured are Shannon Jackson and Cathaoir Quinn with Viberoptix chief executive, Naomhan McCrory.

23. Infrastructure Minister Nichola Mallon has announced proposals to address the recommendations from the review of the York Street Interchange scheme in Belfast.

24. The six colleges of further and higher education in Northern Ireland are working in partnership on a collaborative Apprenticeship Development Project. Pictured is Louise Warde Hunter, chief executive at Belfast Met at the college’s Titanic Quarter campus.

25. Lidl Northern Ireland has become the first retailer in the UK and Ireland to launch a fully green transport fleet powered by waste-to-energy generation, in partnership with McCulla Transport. Pictured are Conor Boyle, Lidl and Ashley McCulla, chairman of McCulla Transport.

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26. Galgorm Collection’s The Rabbit Hotel & Retreat is adding a further 26 jobs as part of an overall £10m investment. The 33-bedroom boutique hotel and spa will open on June 18. Pictured are Lesley Gordon, The Rabbit Hotel & Retreat, Colin Johnston, Galgorm Collection managing director and Abby Dunlop, The Loft.

27. Homefit, a Belfast-based home improvement retailer, is expanding its workforce and opening a new store following a £750,000 investment. Pictured are John Kelly and Michael McNeill from Homefit.

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28. Belfast City Airport has announced an onsite Covid testing centre in partnership with diagnostics firm, Randox. Pictured are David Adamson, Randox and Belfast City Airport’s operations manager, Judith Davis.

29. Armagh-based accountancy firm, Wylie Ruddell, is celebrating its 10th year in business which continues to grow despite the challenging economic climate. Wylie Ruddell founder, Alan Wylie, is pictured with principal, David Ruddell.

30. Law firm Millar McCall Wylie has recruited two new trainee solicitors. Pictured are Jan Cunningham, Hayley Cummings, Ross White, Roisin Cassidy, Matthew Kernohan, Roma O’Hagan, Paul Delahunt, Niamh McMonagle and Ross Carrigan.

ANALYSIS

Looking towards a brave new world for the workforce As we look towards a fully-reopened economy, John Simpson takes a look at what’s ahead for our employers, our workers and the workplace itself

owns and cities have been hit hard by Covid-19. Lockdown requirements have left many businesses, despite the exceptional financial intervention by Government (in London and Belfast), with insufficient capacity to recover to the status quo.

In Northern Ireland, the early months of 2021 have brought together a difficult combination of pandemic, unforeseen Brexit consequences and enhanced peripheral stress.

most progressive business leaders and puts exceptional demands on economic management in Northern Ireland by the ministers of the devolved Government.

This is a combination to test the best enterprise management skills of even the

Jobseekers in mid-2021 face a complex and uncertain labour market. Thousands of

ANALYSIS

Many jobs in businesses weakened by the recession will disappear. There is no reliable estimate of the likely scale of hidden business failures. Various estimates have been published but, if Northern Ireland has comparable experience to other parts of the UK, there might be 5,000 – 7,000 fewer jobs. The search for new jobs in a recovering economy will be less predictable than has been experienced in other recent periods of economic recovery. Many of the forces affecting businesses as they recover will reflect sharp changes in prospects. As the recovery begins to build, consumer behaviour has changed: business investment may be slow to respond because consumer behaviour has changed. Add to this complex interaction the still uncertain path of Government spending and taxation. How seriously will the ambition by the Chancellor to generate a new model of Government spending and borrowing affect any recovery? One example of the decision making gap has been the challenge faced by the Executive seeking to respond to the damage to retailing in the high street. people have survived during the lockdown of the economy, sometimes with considerable personal stress, and are critically dependent on an upswing in the economy to give some reassurance for the years ahead. Problem is that an improving economy will produce an uncertain variety of outcomes and may leave many people facing less of a recovery than they would wish. The end of the job support scheme, paid for under the furlough arrangements, is looming large at the end of September. There is little doubt that the end date for furlough payments will be a crisis point: a cliff-edge.

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The loss of long-established stores such as Debenhams (alongside many others) was an unexpected acceleration of changes in consumer behaviour. Perhaps about a third of some groups of consumer goods, previously giving business to high street stores has gone online. That switch has changed the economics of the conventional high street but is more threatening in a region such as Northern Ireland. Online shopping shifts demand to warehousetype outlets and for Northern Ireland that means away from local suppliers. The switch has been made more difficult because of

the short-term disruption caused by making adjustments because of the uncertainty caused by learning to cope with the effects of the protocol. Online parcel delivery will recover when the red tape of the protocol is standardised. Initially, customers and suppliers have both been asked to adjust to changed business conditions. Critically, the high street has taken a major knock. Government has asked a special task force for a response. Some respondents see this as seeking to restore the high street back to its former influence: that aspiration has the logic of appointing King Canute. The high street has changed and with a strong economic recovery will be very changed. While the shift in retailing activity may be the single most notable feature after the economy recovers, a significant influence could be the change in employment conditions for employees. Working from home is still a feature initially caused by the pandemic. However, the test to be faced is whether working from home will continue on a major scale. From some of the business surveys on the merits of ‘home working’ there are indications that, already, there is a weakening of this practice. Some big employers have shown a willingness to make a partial permanent shift. However, allowing for jobs where a work relationship means an office, shop or workshop, working from home (even parttime) may remain a lifestyle change for up to one fifth of employees. The recent announcement by Invest NI of a new employer for whom all employees will work at home is a sign of possible arrangements. Employees of the new foreign direct investor, Payroc, will earn an allowance for extra home-office expenses. This will make for an interesting test case for flexible working conditions. A brave new working world is opening up. Will potential employers approve? Will employees ask for more flexible working arrangements? ■

TRAVEL

Minding your R manners in Co Kerry

aised in Ireland, I knew very little about alpacas. That they are native to South America, their coat can be used for wool and they’ve emerged as a design trend alongside llamas, unicorns and Frida Kahlo, was the extent of my knowledge.

Last summer Chloe Brennan lorded it up at Killarney’s Cahernane House – and met her spirit animal in Kenmare 94

So, it was with keen interest that I visited Mia and Simon’s alpaca farm near Kenmare during that lockdown window last summer. It’s about an hour’s drive from Killarney – and well worth a detour when we can travel again. My friend and I were en route to a stay at Cahernane House but couldn’t resist a detour to demystify these non-native creatures. I soon discovered that I had much in common with

TRAVEL

should have been a hint – so we stayed at the back of the line to ensure we didn’t hold any other trekkers up. The hike lasted about an hour-and-a-half, was full of fun and not too strenuous – though Fat Sean may have spat at me at one stage and it may have been my own fault. We resolved our issues and moved on. After this unique activity, we made our way to Killarney, to check in to Cahernane House Hotel, a fabulous boutique stay that sits on the edge of Killarney town. The four-star spot is close enough to enjoy the lively atmosphere that tourists and locals bring to Killarney town, but also offers a bit of an escape; the best of both worlds. The escapism begins as soon as you arrive at the Cahernane estate’s regal, tree-lined driveway, which meanders through the countryside with views of the Killarney lakes and Killarney National Park.

Cahernane House

them – they’re constantly looking for food, are a bit goofy, get tired after a two-hour walk and are incredibly nosy. Englishman Simon and his American partner Mia originally set up the farm with two adopted alpacas, now there is a herd of 32 – and they offer a tourist-trekking opportunity to add to their Airbnb offering. ‘Trekking’, in this context, effectively means hiking with the animals, so after a short health and safety talk, we were each paired with an alpaca; mine was called ‘Fat Sean’, who could equally have been nicknamed ‘Boris Johnson’, in honour of his shock of blonde, messy hair. Not a natural born leader, Fat Sean liked to stop and feed often while trekking – his name

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Despite the many owners since it was built in 1877, the hotel hasn’t lost its charm. The original plan was for a mansion three times the size of the current building, but by the early 1900s the Herbert family had fallen on hard times and ended up leasing, and eventually selling, the house as a hotel. More than a century on, the place still feels and looks more like a grand private residence than a hotel. There are six main rooms on the ground floor, each one heaving with antiques and artefacts. Much of the house’s original features remain, such as ornate fireplaces and wooden panelling, and its countrymanor comfort is maintained across its 12 guest rooms and a garden wing of 28 rooms. We stayed in the coach house, which has eight guest rooms and its own courtyard with a lush mountain backdrop. The bathroom was vast and featured a free-standing bath and a rainfall shower.

The bedroom had floral wallpaper, mahogany floors and blue and gold touches – a homefrom-home worthy of hunkering down in. However, we ventured to the Herbert Restaurant, which turned out to be the highlight of our stay. Eric Kavanagh is its executive chef and is committed to using locally sourced produce, including Rossbeigh mussels and Ballyhoura mushrooms. We ordered the 36-day dry aged sirloin steak and Dexter chorizo with mushrooms, roasted shallot, fondant potato and red wine jus, while the roast fillet of monkfish arrived with butternut squash, coriander and a chickpea and sugarsnap ragout. We rounded off with a selection of Irish and French farmhouse cheeses, the whole experience exceptional. The grounds are well worth exploring, but the estate is also on the doorstep of the 26,000acre Killarney National Park, whose network of lakes, waterfalls, mountains and rivers surely make it one of the most beautiful parks in Ireland. It was also the country’s first ever national park, established in 1932. Not surprisingly, given its size, there are lots of on-site activities to choose from, including horse riding, fishing, kayaking, hiking and cycling. The routes suit all ages and abilities, from scenic strolls to exhilarating climbs across Ireland’s largest mountain range, MacGillycuddy’s Reeks. We borrowed bikes from the hotel, packed a picnic and followed a route mapped out by general manager Emer Corridan. Cycling is a great way to see a vast region of the park in a limited amount of time, with plenty of water stops along the way. Some of the terrain was uneven, but thankfully we could park the bikes and explore by foot. We paid a visit to the landmark Torc Waterfall and ate overlooking the Lakes of Killarney. Tired after an active day, we arrived back to our little courtyard, poured ourselves a drink and soaked up the rays. It almost felt like we were basking in the sun in Italy. ■

TECHNOLOGY

Time to ditch the wires? Thinking of a Bluetooth or wi-fi speaker for your home? We tested four models, from discreet smart speakers to karaoke-compatible boom boxes

Harman Kardon Citation 200 Portable: yes Smart: yes Price: £299 Strengths: excellent RECO sound, handy carrying MME NDED strap Weaknesses: slightly fiddly to set up Conclusion: Harman Kardon’s recentlylaunched Citation 200 is the best all-round ‘portable’ speaker I’ve reviewed around the £300 mark. Its sound is superb, it has full smart speaker functionality for things like music and radio and its portability includes a dock and a leather handle for carrying it about. It’s even water-resistant (to an IPX4 standard), meaning it can take the odd splash, a bit of drizzle or some steam (if listening in a bathroom). Does it justify the extra over, say, an Amazon Echo Studio? As an Echo Studio owner, I can say that it does: the audio quality is better on Harman Kardon’s machine, which also has the additional advantages of portability features. Its real competition is probably either Sonos’s Move or Bose’s Home 500. However, it’s between €50 and €100 cheaper than either of those speakers. It supports connection over Apple’s AirPlay, Chromecast or normal Bluetooth if you want to play music away from a wi-fi source. Its smart system is Google’s Voice Assistant which, once set up over wi-fi, gives you the

full panoply of features, including songs or podcasts from Spotify, any radio station you can think of, and an array of smart home controls, from alarms to lightbulbs. Its audio engine comprises a 120mm woofer and a 25mm tweeter, both frontfacing, that put out 50 watts of sound. This has just the right about of bass for classical, acoustic and voice tracks. From an aesthetic perspective, Harmon Kardon has gotten it spot on, with a discreet meshfabric finish and flush indented control buttons on the top. The fact that the stiff carrying strap on top is made from leather is also a plus.

Google Nest Audio Portable: no Smart: yes Price: £79 Strengths: sleek design Weaknesses: audio quality not as good as standard Amazon Echo Conclusion: Google’s answer to the Amazon Echo looks appealing, has powerful, sensitive microphones and connects to a top-notch online smart system. But it’s not as good as its arch rival when it comes to outright audio quality. The Nest Audio’s design is clean and simple, almost to a fault. Resembling a fabric-covered rectangular pebble, it’s an unobtrusive presence that will disturb your room’s curated

look a lot less than most other speakers. This is worth some brownie points, even if there are some usability consequences, such as the speaker controls (volume and pause) being invisible, located on the top-front of the device. While Google has augmented most of the important audio tech under the hood (including a 75mm woofer and a 19mm tweeter), the overall sound effect isn’t as good as Amazon’s recently-released Echo (fourth Generation) model. There’s a significant gap in bass tones, for example. This can be ameliorated by pairing it with a second Nest Audio device, which it’s designed to do. But now you’re at twice the price and require twice the space.

TECHNOLOGY

JBL Partybox On-The-Go Portable: yes Smart: no Price: £340 Strengths: good sound, great outdoors, can be used as amp for instrument or karaoke Weaknesses: big and heavy Conclusion: As its name suggests, the Partybox On-The-Go’s pitch is that it’s a powerful audio speaker that can be picked up and brought to another room or even outside, with ‘party’ functionality through microphones, instruments and colourful lights.

Amazon Echo Dot Portable: no Smart: yes Price: £29 Strengths: outsized sound quality, nice design Weaknesses: slightly bulkier than previous model

The real market for the Echo Dot may be for people looking to replace radios in their kitchen or bedside table. The sound more than matches the best radio RECO MME NDED speakers out there, while its footprint is tiny. Choosing your station by simply asking for it seems like an easier way to change stations, too, although some commercial stations insist on putting Conclusion: If you’re looking for an ultra15-second ads in, lessening your desire to budget speaker that packs an audio wallop, switch over. it’s very hard to beat Amazon’s new Echo Dot fourth generation model. Designed as a Amazon is obviously aware of this market, mini-version of the standard fourth generation making a version of the Dot available (for Echo, it delivers a surprisingly large sound around €10 extra) with a digital clock visible for something so small. It’s a real shame that on the front. The controls on the Dot are nicely Amazon doesn’t make a portable, batterymarked out on the top of the circular device, laden version of this, even if added an extra while you can also turn off the microphone if €10 or €20 to the price. you wish.

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It’s a mid-size speaker, about three or four times the size of the largest Amazon Echo. Large handles are built flush into the unit on either upper corner, allowing you to grab it quickly. There are also two strap links built in on top. And that splash-resistant IPX4 quality makes it ideal for the era we’re hopefully re-entering from May when Covid restrictions are expected to ease: al fresco meetups with friends or family in the back garden, front driveway or even the local park. (IPX4 means it’ll withstand some drizzle or bits of spray, but not a downpour.) If you don’t have access to a power source outside, the built-in rechargeable battery will see through five or six hours of use. This is also a more-than-decent karaokeon-the-go device. It comes with a wireless (battery-powered) JBL microphone, while another line-in mic can also be connected via a port on top of the device. And if you want to add some local strumming, there’s a separate port for a guitar lead.

Uncovering the 9-5 NAME: Colin Patton POSITION: Operations director, Leaf

8.30am I kick off my working day with a quick good morning message to the team. My main focus each morning is to get the Leaf morning update email composed and sent to all staff. This email contains important information on resourcing during the day, reporting on the previous days ticketing numbers and a look at the week ahead in terms of rota and annual leave information. Sometimes I might add a quiz question or a riddle to help break up the stream of information. 9.30am Part of the reason I enjoy my job is that it’s quite fluid and apart from a Monday morning when I have a few set meetings things can go in different directions depending on what’s happening with other departments and customers. Liaising between the departments and working with our service delivery coordinator I would ensure that all support tickets are being worked on and that site visits for installation/repair work are underway or scheduled. If I’m in the office and there are new machines to be benched for customers I would help out and get these unpacked and get them ready for remote connection by one of the team to install the necessary software, for example. 12pm The service delivery team take staggered lunch breaks between 12pm and 2pm to ensure there is cover on the desk and for phones. I would grab by own lunch somewhere in this time frame so I can also be available to assist with the phones. It’s important to take your lunch break and try to get away from your desk, especially if working from home. 2pm Having added to my climb for the summit it’s back to work. The post lunch hour is one

of our busiest times for customers calling in to log tickets and for getting back to those customers who may have been on their lunch whilst their issue was being resolved. I have reporting to complete for upcoming meeting’s and it’s a good time to have a look at the ticketing queues and catch-up with the service delivery co-ordinator on any issues that require highlighting from the morning rush. 3.30pm Catch-up time. As a team we have catch-up video chats on Monday/Wednesday and Friday afternoons. We are maintaining an office presence during lockdown but with limited numbers in the office these video chats are a great way to keep up to date with everyone. Primarily these meetings help us discuss customer support issues and work that is planned for the week ahead but discussions also range from what you got up to over the weekend and plans for the next one. As with most people over this past 12 months, box sets are also a recurring topic with Line of Duty being most talked about this past period. 4.30pm The race to the finish. This last 45 minutes

of the day is very important. It can be a little quieter in terms of customer support as most people are making preparations to sign off and head home. It’s a great time to start getting organised for the next day. Checking to see if there are any early morning meetings coming up tomorrow and then the relaxing realisation that tomorrows actually a Saturday. 5.15pm Time to say goodbye to the team through MS teams and sign off for the day. Just as with lunch times I think its very important to try and switch off in the evenings to recharge for the next working day. 6.30pm Following something that constitutes and evening meal (I’m no Michelin starred chef) its time to catchup with family and friends. It’s been such a strange year not being able to just call into people’s houses so Teams, Zoom, Facetime have been invaluable. It might not be exactly the same but it’s great way to keep connected with your mates and family members. Though, I’d avoid quizzes. Most evenings would include another walk (weather permitting) and then a bit of TV time.