Ambition January/February 2022 by Ulster Tatler

AMBITION MA G AZ IN E OF N O RTHE R N I R E LAND CHAMBER OF COMMERCE AND I NDU ST RY

ISSUE 50 £2.95

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JANUARY/FEBRUARY 2022

CAUSE FOR OPTIMISM NI Chamber Board members Vicky Davies and Andrea McIlroy-Rose join NI Chamber CEO and Vice-President in outlining business priorities and predictions for 2022.

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Contents January/February 2022 Issue 50

NI CHAMBER COMMUNICATIONS PARTNER

The Sustainable Force Veolia is driving forward how our manufacturing sector, and beyond, gears up for Net Zero emissions.

Managing Editor: Christopher Morrow Interviews: Emma Deighan Publisher: Chris Sherry Advertising Managers: Lorraine Gill & Gerry Waddell Editorial Assistant: Joanne Harkness Email addresses: Christopher.Morrow@northernirelandchamber.com/ lorraine.gill@ ulsterjournals.com / gerry.waddell@ulstertatler.com Websites: www.northernirelandchamber.com / www.ulstertatler.com Publisher: Ulster Tatler Group, 39 Boucher Road, Belfast, BT12 6UT Tel: 028 9066 3311 Printed by: W&G Baird, Antrim. Front Cover by: Jamie Trimble NI CHAMBER PATRONS

At a Glance

News: 06 Finyx Establishes NI Base 74 EE Upgrade 4G 75 Ulster Rugby’s Junior Cup Scores Sponsorship 90 Henderson Retail Announces 2022 Project Plans 93 NI Takes Lead in Full Fibre Broadband Race Columnists: 14 Bill Roy 16 Kate Marshall 24 Peter Russell 26 Paul Mellon 41 Richard Ramsey 58 John Campbell 60 Jane Shaw 68 Michael Jennings 70 Dr Scott King CENG 72 Neil McLeese 88 Aoife McDowell 96 Jim Fitzpatrick

NI Chamber Chief: 27 CEO Update 28 NI Chamber In Conversation With... 30 Brexit: One Year On 32 NI Chamber President’s Banquet 35 Top Firms Celebrate Success in NI Chamber Business Awards 36 Quarterly Economic Survey

Features: 08 Manufacturing – NI’s Success Story 12 Stairway to Seven 18 My Ambition is to... 20 Cause for Optimism

40 42 46 50 54

62 66 69 76

Neil Logan – Wilson Nesbitt The Sustainable Force New Opportunities An Eventful Task Ahead Succession Planning for the Future Shoots of Recovery Minding the Skills Gap Strategically Creative Greener Carpets from Ulster Carpets

Appointments: 78 CBRE NI Primed for Future Growth

Lifestyle: 82 Business Class Motoring James Stinson 92 Dine & Wine - Chris Rees 94 Fashion - Joanne Harkness

20 Cover Story 66

89 3

EDITORIAL

President’s Perspective

Delivering on Priorities for 2022

t has become customary for the NI Chamber President to deliver a New Year Message, outlining business priorities for the 12 months ahead. This year, my message focused on why political stability, the completion of negotiations between UK Government and the EU and the UK Government’s levelling up agenda will be vital.

After the seismic challenges of the past two years, businesses in every sector across Northern Ireland need 2022 to deliver certainty for all aspects of trade, support for continued recovery and the right conditions for sustainable growth. While a new year brings renewed optimism, for some sectors in particular, the difficulties of 2021 and 2020 have certainly not gone away. Many firms are still dealing with the compound impact of new trading arrangements, uncertainty around the Protocol, COVID-19 restrictions, supply-chain difficulties, increased costs and labour shortages. So when we speak about approaching 2022 with optimism, we’re looking for opportunities in the long-term, without ignoring the reality of what it means to run a business in Northern Ireland during the present. The need for political stability from our elected representatives cannot be overstated – businesses cannot trade with uncertainty. During a time of such unprecedented challenge, strong, stable devolved government is absolutely business critical. An Assembly election in May will see a new Executive formed and, whatever its makeup, it is vitally important that the next set of Ministers keep business and the economy front and centre. Addressing Northern Ireland’s low levels of productivity is going to be crucial, both regionally, relative to the rest of the UK and in those parts of Northern Ireland where performance is particularly poor. Levelling up also means maximizing external and internal connectivity with high-quality physical and digital infrastructure. It means supporting infrastructure investment connected to Northern Ireland’s key strategic priorities, including the Energy Strategy, Green Growth Strategy and 10X Economy Vision. Throughout the Brexit process, NI Chamber has been guided by members, almost 70% of which have told us they believe that Northern Ireland’s unique status now presents opportunities for the region. There are still serious issues to be resolved. A recent survey of NI Chamber members showed that 84% of exporters have experienced an increase in the price of goods and services, while 89% have experienced an increase in the amount of time it takes to transport goods. At the same time, most also said they had plans to grow their business. If policy makers can resolve the issues quickly and in partnership with business, I believe Northern Ireland finds itself at the starting blocks of a unique opportunity at a time when we really need it. The work that we do at NI Chamber makes a real difference in the lives of businesses, communities and people across Northern Ireland. Over the course of the next year, the NI Chamber Board and Executive team reaffirms its absolute commitment to continue representing our members’ voices and supporting their growth ambitions. Paul Murnaghan President Northern Ireland Chamber of Commerce and Industry

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NEWS

REAL ESTATE INVESTMENT DOUBLES IN 2021 The Northern Ireland commercial property market recorded its strongest year since 2017 in terms of investment volumes, research by CBRE NI shows. The data reveals that investment activity in 2021 more than doubled year-on-year with almost £290 million invested across 30 transactions. The most significant deal in 2021 was undoubtedly the sale of Merchant Square in Belfast city centre, which was sold to a Middle Eastern investment fund for £87 million in what is the largest ever office investment deal recorded in Northern Ireland. Other notable investments included Balloo Retail Park in Bangor to Supermarket Income REIT for £24.8 million and Shane Retail Park in Belfast, which was sold to DS Properties for £23 million. CBRE’s research shows that Offices and Retail were the key investment sectors across 2021, accounting for approximately 43% and 40% respectively of the overall spend. Industrial and Alternatives made up around 11% and 6% of activity respectively but both sectors are expected to increase their market share to help more evenly spread volumes across all sectors in the coming years.

MCAVOY GROUP WINS PORTON CONTRACT Offsite manufacturing specialist, The McAvoy Group, is to deliver a new research and innovation facility at world renowned science hub, Porton Science Park. Located within the Porton Science Park site, close to the village of Porton, the new two-storey, 22,000 sq ft building will provide a mix of sector specific conferences, seminars, workshops and oneto-one support in addition to a mixture of serviced labs and office facilities, with scope for further development depending on tenant demand.

INDEPENDENT MANAGEMENT CONSULTANCY FINYX ESTABLISHES NI BASE

Boutique technology advisory firm Finyx, is expanding its operations into Northern Ireland, creating 20 new jobs. Finyx, which is headquartered in London, provides digital services and advice to central government departments and large organisations such as financial institutions. The company’s Northern Ireland team will Directors Matt Price and Alasdair Frazer. be based in the Urban HQ building in Belfast city centre, providing its new employees with access to health and wellbeing services, catering, and a roof top bar, as well as state-ofthe-art technology. NI Directors Alasdair Frazer and Matt Price, who both originally hail from NI, will head up the local team and say Finyx’s decision to open an NI office was based on the region’s strong talent pipeline.

KINGSBRIDGE MAKES A ‘GIANT’ SIGNING WITH NEW MEDICAL PARTNERSHIP Kingsbridge Private Hospital Belfast, part of the Kingsbridge Healthcare Group, has announced their role as Medical Partners for the Belfast Giants. As Medical Partners, the Belfast Giants will have access to state-ofthe-art equipment, Private GP service Tanya Neilson (NPD & Hub Innovation Manager at Willowbrook Foods), Enya Rooney (Senior Buyer at and over 300 medical specialists, Lidl Northern Ireland) and John McCann (Founder and as well as the Kingsbridge Sports CEO of Willowbrook Foods). and Physiotherapy Clinic at Queen’s University PEC over the next three seasons. Belfast Giants legend and Head Coach Adam Keefe commented, “Having access to innovative sports medicine and fast and effective treatments is a huge benefit to our players and the team as a whole. We are very much looking forward to working with them to ensure the optimum fitness and health of our team. We have exciting plans in the pipeline for health and wellbeing related content that will also benefit fans in the future.”

NEW £45M NRC CAMPUS CONTRACTOR APPOINTED Economy Minister Gordon Lyons has welcomed confirmation that Heron Bros Ltd has been appointed as lead contractor to develop a new £45million campus for Northern Regional College in Ballymena. Located at Farm Lodge, the new Karl McKillop (Construction Director at Heron Bros); campus will see teaching at the Economy Minister Gordon Lyons and Gillian McConnell (NRC Governor). college’s existing sites at Farm Lodge, Trostan Avenue and the Lamont Building in the town consolidated onto one state-of-the-art campus. Initial preparatory work is expected to begin in January, with construction onsite commencing in June 2022. The new campus is due to be operational for the start of term in September 2024 with all works, including the new car park, fully complete for December 2024.

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FEATURE

MANUFACTURING NI’S SUCCESS STORY

According to Invest NI, employment in the Northern Ireland manufacturing sector has grown more than four times faster than the rest of the UK accounting for 11% of employment and over 15% of GVA. Here Emma Deighan talks growth, plans and ambition with key players in the industry. Northern Ireland is home to a range of indigenous and international companies, engaged in the full range of activities from R&D through new product development to manufacturing. Further research from the Northern Ireland Statistics and Research Agency (NISRA) shows that the sector is continually thriving, even with the challenges of Brexit and COVID. NISRA’s Index of Production (IOP) provides information on the output of the production industries, manufacturing industries and market trends. It revealed an increase of 3.6% in 2021, and when the most recent four quarters are compared to the previous four quarters, the NI production sector increased by 8.1%, while the UK production sector increased by 4.2%. From aerospace to construction and

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Jeremy Eakin, Armstrong Medical

automotive our manufacturing talents span a broad field that have garnered a strong reputation for NI’s skillset. In the medical sphere, NI firms like Randox have become a household name thanks to its role in the COVID-19 testing market (it launched 23 Randox testing clinics, more than 200 partnered testing clinics and 80 plus drop box collection points for home testing). Meanwhile,

Armstrong Medical reinforced its strength by expanding its product portfolio and merging with Comber-based Eakin Medical. Jeremy Eakin says Eakin Healthcare Group’s acquisition of Armstrong Medical was a rapid transaction, a swift 10-week process. He said the brawn of both firms alongside Eakin’s investment plans will “take Armstrong Medical to the next level and help it take advantage of new

Jim Downey, Hyster Yale

and exciting opportunities in the human healthcare market”. The company has been actively growing since it was founded in 1974 by Jeremy’s father, Tom, a pharmacist, but the past 18 months has presented the firm with challenge and opportunity in equal measure. Jeremy says keeping Armstrong Medical in NI is a good news story for the manufacturing world. He added: “When a family business sells, the obvious move is to sell to a bigger competitor but this transaction has been unique. I think it presents a fantastic opportunity for growth and we can build on the foundations.” In the mobile crushing and screening domain, NI manufactures over 40% of the world’s equipment. At the heart of that industry is Cookstown-headquartered CDE. This company has experienced phenomenal growth in recent years. CEO Marc Jennings says the drive to a sustainable economy is at the heart of that incline. “We’re finding that larger businesses are now willing to invest in sustainable technologies and we know that’s the future,” he said. “It’s a huge opportunity and that aligns perfectly with what we’ve been doing. We’ve seen huge transformational projects, it’s exciting times in CDE here.” Indeed, the sustainability agenda is a priority at the business and it’s well prepared for the revolution that is imminent. Marc says the world is mining sand at an unsustainable rate and the company’s new equipment will help lower mining of what is the single most mined commodity.

“When a family business sells, the obvious move is to sell to a bigger competitor but this transaction has been unique. I think it presents a fantastic opportunity for growth and we can build on the foundations.” Jeremy Eakin, Armstrong Medical

Testament to this is one of its most recent transactions with SOMEVAM, a subsidiary of the Tunisian Sebri Group. It recently made significant investment in the development of its second CDE wet processing solution for the production of high-specification silica sand products. “We’re always striving to be number one in the world. We offer a premium product and direct to end user service and we have a premium supply chain so our customers are assured they’re buying the best.” Lift truck manufacturer Hyster Yale is also enjoying a boost in demand. Reflecting that growth was the opening of its £5m 60,000 sq ft facility at its plant in Craigavon and the recruitment of new engineers and other roles. Jim Downey, Plant Manager at Hyster Yale said: “We have seen significant growth in bookings volumes. Our orders haven’t dropped the way people would think they would after a pandemic; in fact they’re growing quicker than we even expected.” He says the market is expanding. The uplift in online retail is prompting a rise in warehousing and in turn a rise in forklift orders. The business is also investing in the circular economy with a newer greener

Brian Murphy, Balcas

FEATURE

John Mathers, Barclays

model of forklift that will inevitably become the norm in warehouses around the world in coming years. “Our Craigavon plant does a range of those products and we still build an IC product, but the focus now is towards a class one electric product,” Jim divulged. Hyster was the first to offer a commercially available, certifiably recognised lithium-ion battery pack in the lift truck industry and now it’s helping drivers comply with emissions regulations and sustainability initiatives via its hydrogen fuel cell technology. Coca-Cola has also been pumping funds into its sustainable efforts, with many of its investments representing world firsts. In total, Coca-Cola HBC Ireland and Northern Ireland has reduced plastic use by almost 5,000 tonnes a year since 2019 and together, with its partner Coca-Cola Ireland, its next ambition is to achieve a World Without Waste by 2030, creating a true circular economy for plastic packaging. Communications Director Tom Burke, said: “It’s a core part of our strategy for growth and we’re hugely cognisant of the role we have to play in carbon reduction here and in the wider community.” The company is also planning to recycle every single Coca-Cola bottle sold through an intensive collection scheme yet to be unveiled. It’s a revolutionary idea that will mark the beginning of mass recycling of bottle use.

“In the last five years we have more than doubled our revenues and radically grown our order intake which is impressive for a business that most people in Northern Ireland don’t know about or know what we do.” Philip McBride, Thales

Marc Jennings, CDE

“There will be significant costs in making that happen, but it will be a good investment,” added Tom. Enniskillen-based Balcas is probably one of NI’s best circular economy manufacturers. The major sawmill and carbon neutral energy provider sells timber to merchants in NI, the Republic of Ireland and Great Britain. The company’s macro green story and initiatives are far reaching. CEO Brian Murphy said: “Balcas is a true example of a manufacturing contributor to the circular economy. Every log it uses originates from a sustainably managed forest. The forests throughout Britain and Ireland not only capture carbon but sustain rural jobs and provide leisure and social outlets for our citizens.” “What we’re trying to do now is help others do the same,” he said. A city grandmaster in the manufacturing world, H&W is expanding its service portfolio to include hydrogen storage for our future energy needs. John Wood, CEO of owners Infrastrata, told Ambition recently he acquired the famous dock firm as it had potential to encompass five different markets across six different services.

Philip McBride, Thales

“The problem with shipyard businesses is that yards often just stick to one thing, suffering volatility when it occurs in the market; however, by spreading across different markets and services, we are building sustainability and resilience,” he explained. In October 2021, the company was granted a marine construction licence for the gas storage Islandmagee project, paving the way for the development of seven large caverns below Larne Lough. Probably one of NI’s more modest manufacturing success stories is Thales Group – the global aerospace and defence manufacturer. The Belfast-based element of Thales Group has an order book which averaged around £200m annually over the last number of years. It’s an impressive figure for a business that is low on the radar here. Philip McBride, Managing Director, said the Belfast firm has also seen an influx of contracts in the past few years, most of which are won through a competitive tender process. One of those contracts was a defence deal with the UK Ministry of Defence (MoD) where the capability is being delivered to and used by both the British Army and the Royal Navy. It will now export the same missile technology to its other clients further afield. “We plan to significantly grow our business here,” Philip said. “In the last five years we have more than doubled our revenues and radically grown our order intake which is impressive for a business that most people in Northern Ireland don’t know about or know what we do.

“We are successful, we really support the local economy and supply chain and more importantly we offer long term employment security in a time when many businesses are finding it very difficult.” The latter stories are just a fraction of the success in NI’s manufacturing sector and 2022 promises more of the same. Recent research from Barclays revealed manufacturing exports brought in around £6bn to the Northern Ireland economy last year. What’s more, the plans of manufacturers who don’t currently export to start selling their products overseas could see that total rise to £6.4bn a year by 2030. Barclays’ report – The Export Dividend – showed that 76% of manufacturing firms with 10 or more employees in Northern Ireland are currently exporting. It also revealed that more than a quarter of exporters here saw ‘significant growth’ in 2021. Meanwhile, manufacturers who export are also more confident about their prospects this year with 88% of exporting businesses upbeat about their growth prospects. John Mathers, Corporate Development Director, Barclays Corporate Banking Northern Ireland, said: “The UK manufacturing sector, like many others, has endured a tough year… However, exporters, more than most, have weathered the storms and are enjoying strong demand for their products in markets all around the world. Confidence is high and many firms are looking to exports to fulfil their growth ambitions this year and beyond.”

“It’s a core part of our strategy for growth and we’re hugely cognisant of the role we have to play in carbon reduction here and in the wider community.” Tom Burke, Coca Cola HBC

Tom Burke, Coca Cola HBC

FEATURE

Stairway to Seven My seven steps for business success

Dawson Hinds Creative Spaces is a family run business with a great history and four decades of experience in the commercial interior and office products sector. With its HQ in Derry and dedicated professionals in Ireland, the United Kingdom and Europe, the company’s aim is to provide a unique service with a specialist product range to the commercial, educational, and public sectors.

Dawson’s seven key tips for success through his career to date are: 1. BE CREATIVE Always look for ways to improve your business and make it stand out from the competition. Recognise that you don’t know everything and be open to new ideas and different approaches to your business. Creativity in business is a way of thinking that inspires and challenges people to find new innovative solutions and create opportunities out of problems. It is a crucial asset needed to shape a resilient individual because the business world is unpredictable and issues inevitably arise. That is why creative thinking is such a valued asset today.

2. PREPARE TO MAKE SACRIFICES The journey to starting a business is hard work but once you have opened your doors, your work has just begun. In many cases you must put in more time than you would if you were working for someone else, which may mean spending less time with family and friends to be successful. 3. LONG TERM THINKING When entrepreneurs go into business, they are naturally focused on the first months and short-term goals. However, in many industries, purchasing cycles can be much longer. By thinking long-term, businesses can make sure they have sufficient resources to get their business on a secure footing. 4. ADAPT AND FLOURISH Life and business are all about innovation and progress. Smart business owners and managers shouldn’t be concerned by change. Instead, they should embrace it and find creative ways to expand. This could be adding additional services and/or products that compliment your current offering while expanding your customer list and audience. 5. WORK SMARTER NOT HARDER To be successful, you will need to spend a great deal of time working on whatever path you plan to pursue toward economic freedom. The question for you to answer

will be whether that will be all of your time – seven days a week, 52 weeks a year – or whether there are going to be rules you set for yourself? As a successful professional, it will easily be possible to spend every waking hour working, but that means not spending time taking care of yourself or being with loved ones or doing the things you enjoy. When you are first starting out there will need to be sacrifice, there is no doubt, but are you being productive or are you just working? There is a difference. Look for ways to be more productive and give your body and mind a break so you can refocus and refresh. 6. LINE UP THE RIGHT PEOPLE Successful entrepreneurs may be the best salespeople in their company, but they’re rarely also the best accountants, operations managers, or legal experts. What they do know is how to assemble effective teams to get the job done. Surround yourself with the right people with the needed skillsets. 7. GREAT SERVICE There are many successful businesses that forget that providing great customer service is important. If you provide better service for your customers, they’ll be more inclined to come to you the next time they need something instead of going to your competition.

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Columnist Bill Roy Principal and Founder, BRC Partnership Ltd

A Marathon, Not a Sprint As milestones go, 2022 is an especially significant one for me as I’m celebrating 20 years in business. Prior to this, I had spent nearly 10 years working in the community which included setting up community businesses, culminating in an exchange project with my family in Brazil. On my return, I decided it was time to step out again into the unknown. It was time to go it alone and launch a new L&D business. I was, of course, stepping into a well-populated L&D environment but I was sure I could bring something different; I had a belief (perhaps a naive one) that I could add value, encouragement and expertise to the leadership journeys of others. As I enter 2022, I have been reflecting on a 20-year marathon with so many highlights, challenges, disappointments and uplifting experiences. I have also concluding also that learning really is a life-long journey. As Benjamin Franklin once said, “When you’re finished changing – you’re finished”. The journey continues…. At start-up one doesn’t really factor into one’s thinking that financial crises, recessions and pandemics will need to be navigated – I certainly didn’t. I set off with one over-riding objective which was to provide a secure and stable environment for my family. I wanted life to be as ‘normal’ as possible for our two young sons, even though I had no idea where work and the all-essential income was going to come from. I was, however, comforted and encouraged by a wife who backed me all the way. At the beginning of 2002 I was amazed by the generosity shown to me by one person in particular, who provided an unsolicited, interest-free loan with an open-ended repayment arrangement. This was to help me set up the business and have some income for the first few, uncertain months in business. I’m sure there are others, like me, who are occasionally reminded of the basic human kindness and generosity of others and the existence of people motivated by a desire to see others succeed. I certainly was, and have been reminded of this over the past two decades. I hope I have shown the same generosity along the way. The year 2008 signalled a major turning point for my business as the recession began to bite and the resources to fund L&D became harder to find. I turned my attention to other shores, far from this small corner of the world. A Lebanese group of companies invited me to help strengthen their leadership spine in various parts of the world, none of which I had ever visited before. I was humbled and grateful for the opportunities they gave me and for the many wonderful relationships I built. As we enter 2022, I am amazed at the breadth and reach around the world of this small company, being inspired along the way by some very talented colleagues and collaborators. If I may, I would like to highlight six key lessons learned which may be useful for other leaders, including those in small and micro businesses.

However, a basic belief in your own ability and the passion, drive and courage to make things happen will take you a long way. • Expect unexpected allies My own marathon has been dotted along the way by surprising encounters, conversations and shared experiences. There are people out there whom you haven’t met yet and whom you don’t yet know who might prove to be the right person to talk to at the right time. Be willing to embrace the unexpected. • Grow your network It is most unlikely that you will succeed without the input, advice and expertise of others. However, I’ve always believed that growing my network of connections is worth it for its own sake and not because I might gain some benefit from it. Just connect and see where it takes you. • Optimism over positive thinking I have learned optimism and got better at it over the years. The thing about optimism is that it acknowledges current reality (which may be very difficult at times) but chooses to look beyond adversity and setbacks towards a better day. Optimists tend to have a positive impact on others in my experience, and those ‘others’ may at times be key decision-makers. • Speak well of the competition When one is focused on establishing and building a business, one has to expect setbacks and disappointments. Other people will – on occasions – win the business you had hoped for. Sometimes, of course, we win the business they had hoped for. I will always remember the response of a business owner I had worked with for around five years when I told him I believed our collaboration had run its course and that I needed to pursue new partnerships and opportunities. “When other companies tell me they have secured your services, I will assure them they have made a great choice,” he said. What a generous stance to take, especially as we were about to operate in competition. I learned so much from this person’s wise and generous words. • Stay true – be yourself Over the past 20 years, I have increasingly understood the importance of authenticity, which has included admitting a lack of knowledge, capability and experience at times. The business environment will prove to be unpredictable and volatile at times, there will be seasons of significant success as well as inevitable challenges and disappointments. However, remaining sincere and true to yourself and your core values with a large helping of humility and generosity will carry you forward.

• Don’t underestimate your capacity for success It probably depends on your definition of success which I would suggest needs to be much broader than making money.

Here’s to a healthy and brave new year; I wish you well for 2022.

Columnist Kate Marshall Coach Speaker Author Facilitator

Driving With The Brakes On

he New Year is when most of us reset, renew and revive our personal and professional goals for the year ahead. Economists suggest the 2022 outlook is one of cautious optimism, strong inflation, and rising wages; it might feel no matter how clear and focused you remain, that you are driving with the brakes on. Here, for some businesses, the continued uncertainty of the NI Protocol and COVID on our ability to fully execute our plans and achieve the desired results remains paramount. There’s cause to be cautious. COVID and its yet-to-be-discovered mutations continue to plague confidence. The emergence and outbreak of Omicron is a timely reminder that the pandemic is not yet over and the residual Brexit issues also remain challenging. Rising interest rates and weaker real incomes also test the resilience of household consumption and business investment. However, the good news is that COVID-related restrictions are proving to have a diminishing economic impact. So COVID combined with the Protocol issues are going to be with us well into 2022 and are still the biggest headwind for business. As leaders, we can go back to what we know has worked in times of great uncertainty. Winston Churchill (1874-1965) led England and the Allies to victory over Nazi Germany in World War II. His life spanned from the Victorian Age to the Space Age. He authored 37 books, producing more words than Shakespeare and Dickens combined. When Western civilization was threatened by the ominous expansion of totalitarianism, Churchill defended liberty against tyranny, exuded a confidence in victory and provided something freedom-loving people across Europe and the United States desperately needed: HOPE. While he was revered by some and hated by others, regardless of your stance or politics, he was a great leader for that time. There are lessons we can take from his approach to leading through continued hardship and uncertainty. Leaders must be above all things a purveyor of hope. Your people take their lead from you. No matter how brilliant, challenging, or dire your circumstances, what they look for and analyse is your reaction. We cannot not communicate. We know that as humans we are likely to focus on the danger/negative/fear in our circumstances with the ratio of 5:1. So communicate the reasons for hope frequently and repeatedly. Get in front of as many of your people as often as you can, either in person or on a recorded message; let them know you’ve got this, no matter how uncertain the circumstances around us. People read our body language as well as our language; both are equally as important when delivering a message. Choose your words and language carefully. Be real with them, tell them the facts and somehow find a way to share the optimism and hope, making a commitment to do that consistently. Churchill was also an avid reader and had an insatiable learning mind set. He sought wisdom in many of the ancient scholars. He

started with the rise and fall of the Roman empire and worked his way over a two-year period to read and study the wisdom of Plato, Aristotle, and Darwin to name a few. Today we have easy access to wisdom from many ancient and recent leaders from many genres. It’s amazing how an unexpected story can inspire you to think or act differently, to learn and apply to your circumstances. Recently a book named Breathe was recommended to me, so I bought it, and half-way through the book it discovered I had ordered the wrong book! I had thought it a strange recommendation but became curious about the content. I bought “Breathe “by Rickson Gracie, a Brazilian Jiu Jitsu Legend. The book was not what I was recommended to read, but the life lessons on discipline, resilience, courage, the ability to control your response were more than worth the read. Leaders are readers – recharge your curiosity and fill your mind with new options by reading, or listening, or watching wisdom from diverse sources of how others have thrived and inspired during tough times. Churchill was, of all things, a courageous leader and something he said struck me as relevant for our circumstance today: “The amount of courage it takes to do something can be measured by the amount of fear one must put aside in order to act. Courage is knowing what not to fear.” Fear is what we feel when we sense a threat. Whether that threat is mental, physical, major, minor, real, or perceived, when this emotion arises, our response is what matters. Fear helps us recognise and avoid potentially detrimental threats, pain, or harm. It also ignites our fight or flight response, prompting us to take appropriate action if needed for survival. As we set goals for 2022, step into the year with courage and harness the fear to navigate “driving with the brakes on”.

“Leaders are readers – recharge your curiosity and fill your mind with new options by reading, or listening, or watching wisdom from diverse sources of how others have thrived and inspired during tough times.” 16

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FEATURE

My Ambition is to... AMANDA SISTERN MARKETING & BUSINESS DEVELOPMENT DIRECTOR AT CARSON MCDOWELL

really enjoyed school and studying but I didn’t have a definitive career path like many of my peers at Limavady Grammar School, who knew that they wanted to be a doctor or a vet from a young age. Having gained inspiration and guidance from my mum’s career path, I chose to study a BSc in Management with IT at Queens University, Belfast, a course which I hoped would open many avenues for me in the future. I loved IT but excelled at business and marketing. Therefore, in my final year, while the rest of my class were competing for positions in well-known accountancy firms, I decided to continue my studies by completing an MSc in Marketing & Entrepreneurship at Ulster University. At the same time I worked as a retail manager in a firm where I had worked part time when at school. I learned a lot in retail, gaining selfconfidence which helped me get through my first round of marketing interviews as a new graduate. In 2010, I accepted my first marketing role as a Marketing Assistant in a managed services company. I gained firsthand experience in all areas of marketing, from PR to event management, and after two years, I was promoted to Marketing Executive. In 2013, I experienced my first career hurdle being made redundant after a takeover. At the time, I was devastated, but looking back, this was the turning point in my career. It set me on another path into the financial services and legal sectors, where I now have a unique skill set and a strong track record for marketing and business development success. Moving into a law firm in 2013 was challenging as it was very traditional with marketing being considered a nice-to-have, rather than a need-to-have. It was a good introduction to the sector and built my resilience. However, I chose to move on when offered the chance to work at one of the leading banks in Northern Ireland, Danske Bank. 2014 was genuinely when my career took off. Danske Bank was my biggest opportunity to learn. I delivered regional campaigns, managed high-profile sports sponsorships and launched a financial literacy programme which they continue to use today. The

guidance from my manager, Nicola McCleery, really developed me as a person, gave me my ‘can do anything attitude’ and, most importantly, the skills to progress my career. It is true what they say, never burn your bridges, as four years after leaving the legal sector, I returned to the same firm as Marketing & Business Development Manager and subsequently ‘Head of’. I was more experienced and confident. Here I led the development and rollout of the firm’s marketing, communication, and business development plan, enhancing their brand awareness in a highly competitive market. As a result, in 2019, I was incredibly proud to win a Women in Business award for Best Marketing Campaign. This was for a ‘Legal Focus’ social media campaign, the first of its kind for a NI law firm, which significantly grew the firm’s share of voice online and generated exceptional leads. For me, the best thing about my role in marketing is the sheer diversity of the work I do. Marketers share a common thread with the overall business leadership team – to generate new business and make a profitable return. This has given me incredible exposure to marketing and business development

strategies and opportunities suitable for the various industries law firms operate within. I did not initially think I would find myself working in the legal sector, never mind going back after my first try at it. However, the sector genuinely excites me. As it has continued to evolve and innovate, I reached a point where I wanted further career development and to work for a more prominent company, continuously improving its strategy and making a difference. Today, I am in the relatively early stages in the Director of Marketing and Business Development role at Carson McDowell, the number one commercial law firm in Northern Ireland with a fantastic and highly experienced legal team. I have always been a driven person, keen to learn, develop and progress through the marketing career path. As the world of marketing is ever-changing, my ambition is to continue that learning and development to grow and bring the most innovative ideas and strategies that will positively contribute to the success of Carson McDowell. With the encouraging support provided by the firm, I know my career will continue to evolve.

A unique position Local knowledge with global reach Lawyers offering domestic legal excellence and a truly international reach, providing the legal guidance you need in a fast-moving commercial world. Our outstanding connectivity with 74 offices worldwide (including 8 across the US and 11 in the UK) and full service coverage on the island of Ireland, enables our Belfast team to advise local clients from a unique perspective. We don’t just give advice: we solve problems, we help you manage risks, we open up opportunities and deliver outcomes that save you time and money. Find out how our legal team – now in Montgomery House, 31 Montgomery Street, Belfast, (+44 (0)28 9526 2000) – can support your growth and development ambitions, wherever you want to be. Peter Curran Partner, Commercial +44 28 9526 2000 petercurran@eversheds-sutherland.ie

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FEATURE

Cause for Optimism NI Chamber Board members on business priorities and predictions for 2022 21

FEATURE

As firms across Northern Ireland look to the year ahead, NI Chamber Chief Executive and Executive Director Ann McGregor joins fellow Board members Vicky Davies, Andrea McIlroy-Rose and Gillian McAuley in outlining business priorities and predictions for 2022.

ccording to NI Chamber’s most recent Quarterly Economic Survey (QES), published in early January, businesses in Northern Ireland, broadly speaking, are feeling optimistic about prospects for their own organisations and for the regional economy this year. Many of the region’s firms are making plans to invest and re-shore supply chains, continuing to explore new customers and markets in the UK, Ireland, Europe and Rest of the World. For businesses to maximise the opportunity, government must create the conditions for business growth. The Department for the Economy has been active in this regard having recently published its long awaited Energy Strategy, launched Skills Strategy consultation and draft export strategy following on from the Department’s wider 10X Economic Strategy published in May. NI Chamber Chief Executive Ann McGregor tells Ambition: “Whilst these strategies are welcome, progress is slower than expected especially as we emerge from COVID-19. It is important that there is a renewed focus on implementation, with key decisions being made before the forthcoming election purdah kicks in. It is particularly important that the NI Assembly is not dismantled any earlier as it will really damage local and international business confidence. “Stability in the final phase of this NI Executive is very important for confidence. An Assembly election in May will see a new Executive formed. Whatever its make-up, it is also vitally important that the next set of Ministers keep business and the economy front and centre.” And the reasons for keeping economy and business front and centre in 2022 are clear. Ann comments: “The economy/business needs to be a priority because it plays a fundamental role in delivering for people and communities. So when we talk about business, we should not see it in a narrow, profit driven sense. It’s about people’s livelihoods and their sense of purpose and wellbeing, communities and families, as well as taxes to run vital public services and the region.” The delivery of key government strategies, along with the importance of political stability, are not the only issues of vital importance to businesses in 2022. Other challenge persist,

“The NI Chamber Board, comprising individuals from top NI firms including Danske Bank, Devenish and Pinsent Masons, continues to play a central role in steering the course of the organisation’s priorities and preparing for the future.” with companies experiencing increased costs and paper-work, transport delays and difficulties with recruiting and retaining staff. These, coupled with the arrival of the Omicron variant and new COVID-19 restrictions in December, make for difficult circumstances. “Our MPs must do all that they can to ensure the voice of Northern Ireland is heard in Westminster in a coherent way in non-devolved matters impacting on business costs and to ensure we secure the rumoured benefits of levelling up,” says Ann. The NI Chamber Chief Executive highlights that the strength of NI Chamber and its Board is helping members overcome these

challenges. She comments: “In the midst of such unprecedented trading conditions, the NI Chamber Board, comprising individuals from top NI firms including Danske Bank, Devenish and Pinsent Masons, continues to play a central role in steering the course of the organisation’s priorities and preparing for the future.” One of these Board members, Vicky Davies, is the recently appointed CEO at Danske Bank and she’s aware of the many unknowns facing firms right now, telling Ambition, “At this point, there is considerable uncertainty about the economic outlook. With regards to economic growth, at Danske Bank we think the annual rate of expansion in 2022 is likely to remain relatively strong. However, there are a number of challenges that could affect the economy, including the potential impact of the Omicron coronavirus variant, high inflation, supply chain disruption and labour shortages.” Andrea McIlroy-Rose, Head of Pinsent Mason’s Belfast, is also a Board member of NI Chamber. Andrea comments: “Whilst it is very difficult to try to forecast with any accuracy how the NI economy will perform this year, our local market has proved to be surprisingly resilient at a time of enormous change and uncertainty. In spite of the challenges presented by COVID and the continuing impact of Brexit there are a lot of reasons to be optimistic about the future and to believe that this year will be a positive one in terms of growing our economy.” For Gillian McAuley, Group HR Director at Devenish Nutrition and current NI Chamber Vice-President, one of the biggest priorities for Devenish and Northern Ireland as a whole, is addressing the skills challenge. “Northern Ireland has had a skills shortage for decades, which has been exacerbated since the onset of the pandemic. Whilst the proportion of people in employment has risen consistently for six years, high levels of longterm economic inactivity remain. “We need to invest in languages and digital skills, increase apprenticeship numbers, deliver wrap-around support for people with no or low qualifications and develop a flexible and cost effective immigration system that ensures fast access to skills when they can’t be recruited locally. If we are to really tackle the growing skills problem, we need to start at school level, amending the curriculum for subjects at all levels to include both ‘systems skills’ like robotics, and coding, as well as

FEATURE

‘human skills’ such empathy and strategy, which are required for work in a more digitised future.” As the current NI Chamber representative on the new NI Skills Council, Gillian continues: “In the long-term, investing in the skills of our population is one of the key levers at our disposal to stimulate economic development and address social inequality, which is why it must be a priority this year. Last year’s 10X Skills Strategy has provided a roadmap to start tackling the problems and the current Independent Review of Education is a real opportunity to ensure that every young person can benefit from a high-quality education.” Gillian concludes: “2022 must therefore be about funding the solutions adequately and

rolling them out without delay. The problem is though, the required level of finance is not in place to do this – and until that’s resolved, change on the scale that we need simply won’t be achieved.” Whilst acknowledging the central role of policy makers in creating the conditions for businesses to grow in 2022, Vicky Davies was also keen to conclude by highlighting the crucial role that business people themselves have to play in recovery and economic prosperity for the future. She commented, “There has always been change in the business world, but never have we seen such speed of change and uncertainty. My advice for business leaders would be to embrace change, be agile and reposition their businesses for success. It’s

not an easy time for business leaders, and bringing colleagues on the change journey with them will be instrumental to ensuring success.” The sentiment was shared by Andrea McIlroy-Rose, who added, “NI business leaders are used to facing uncertainty and overcoming difficulties that other regions have not had to and so will be well placed to deal with the unprecedented social and economic effects of the pandemic. The ability to embrace change, seize the opportunities presented by our unique position in the UK and European markets and adjust to the new agile and flexible working models that are now an integral part of our working environment are key to the continued growth and success of our local businesses.”

Vicky Davies, Chief Executive, Danske Bank “The pandemic has brought many challenges for the UK banking industry, including multiple government support schemes launching rapidly, increased customer vulnerability and increasing expectations on the digital banking side. Customers today, be it customers considering current accounts, or businesses reviewing their banking services, want more; more options, including greater personalisation, faster solutions, self-service, and the ability to bank anytime and anywhere with immediate and effective human intervention, when required. In 2022 banks need to continue to transform at pace to meet expectations, while maintaining their fundamental role in supporting consumers, businesses and the economy.”

Andrea-McIlroy Rose, Head of Pinsent Masons Belfast “2021 proved to be a very strong year for Pinsent Masons and one of the busiest we have had in terms of transactions. As we start the new year, activity levels continue to be very high across our global network and that remains the case in NI and across our other UK and Irish offices. “Pinsent Masons is unique in being a purpose-led professional services business with law at its core and for the last few years our focus has been purposeful growth where we put clients, communities, people and the planet before pure profit and this seems to have resonated very strongly with both our colleagues and clients as they have faced such unforeseen difficulties in their personal and working lives; it provides the platform for our optimistic plans for growth in the years ahead.”

Columnist Peter Russell Managing Director Ireland, Telefónica Tech UK&I

Digital Growth Continues Into 2022 2020 was certainly one of the most disruptive years in the history of the IT industry, with the almost overnight shift to remote working for millions of people and the huge implications this had on IT systems, departments, and companies. 2021 has continued to be challenging, but the tech sector has continued to play a fundamentally important role in the success and resilience of businesses, public services, and wider society.

networking and cyber security, and a specific industry focus in the health sector. “We have the ability to stay agile and adaptive to uncertain market trends, but also we have the backing of a global powerhouse in the form of one of the world’s leading tech companies which is investing heavily in its non-traditional digital transformation capabilities. “It is an exciting prospect for us as a team, as well as for our customers and hopefully also a positive impact for the Northern Ireland economy.” *Source: Gartner top predictions 2022

Indeed, secure digital services are becoming one of the most critical assets companies are investing in to ensure their successful future. From cyber security services to prevent ransomware attacks, to supporting home-hybrid working, and creating the new modern workplace of the future, IT services are in high demand for nearly all organisations today as they all attempt to unlock the key to digital transformation and build the new hybrid workplace. It seems that the world’s demand for digital products and services – from data centre systems and software to communication services – will not slow down in 2022. According to data from global research firm Gartner, global IT spending will reach $4.47 trillion next year, representing an increase of 5.5 percent compared to 2021. Gartner’s John-David Lovelock said people’s “willingness and eagerness” to adopt technology and “use it in different ways” changed in 2020 and 2021, spurred by the ongoing global COVID-19 pandemic. And that will continue into 2022. Some of highest growth areas that will see the biggest focus of investment will be cloud, modern workplace and cyber security. Indeed, Gartner states that while recent large-scale cyber security attacks on hospitals, governments and energy facilities have been considered crimes, the increasingly devastating fallout means they’ll soon be considered acts of war.* Cyber security remains a fundamental pillar for us at Telefónica Tech through next year and beyond. We have invested heavily in our Security Operations Centre (SOC) in Belfast which will provide services such as monitoring and analysis of clients’ IT systems to pre-empt and prevent security risks and attacks. The Security Operations Centre is manned 24 hours a day, seven days a week, working across sectors including NHS Trusts, public sector bodies, and many private sector organisations. Telefónica Tech is well positioned to capitalise on this predicted digital growth, being a disrupter in the local marketplace with strong value propositions in hybrid cloud, modern workplace,

“It seems that the world’s demand for digital products and services – from data centre systems and software to communication services – will not slow down in 2022. According to data from global research firm Gartner, global IT spending will reach $4.47 trillion next year, representing an increase of 5.5 percent compared to 2021.” 24

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Columnist

Paul Mellon Lecturer in Business Analysis & Technology, Ulster University Business School

Business & Technology: The Perfect Blend for Success Paul Mellon, Lecturer in Business Analysis & Technology at Ulster University Business School, discusses the impact of technological change on business and how new educational developments are supporting priority sectors in Northern Ireland.

tech and data science in consulting, leadership, strategy and transformation, the MBT programme provides learners with the skills and capabilities needed to make the transition to senior management or leadership roles in a tech-led world. One of the unique aspects of this course is that it has distinct inherent components which can be gained as unique exit awards. After year one, students can graduate with a Postgraduate Certificate in Business Analysis and Consulting (which gained its first cohort of 78 graduates in 2021) and following successful completion of year two, participiants may choose to graduate with a Postgraduate Diploma in Leadership and Transformation. Programme delivery is built around current trends in the sector and case studies with simulations and real-life company projects forming the basis for much of the learning and delivery to help the fluidity and current nature of the programme. In March 2021, the inaugural MBT programme commenced with a multi-disciplinary cohort from PwC funded through the Department for the Economy’s Higher Level Apprenticeship scheme. This cohort comprises a range of professionals from various functions within the company with aspirations to grow into leaders within the business. To date, learners have benefitted greatly from a flexible, company-focused hybrid delivery model which mirrors current work practices. Reflecting on programme impact, Claire Mc Nally, Director of PwC Operate in Belfast said, “Having been involved from the outset in the development of the MBT programme, it is particularly satisfying to see the inaugural PwC cohort progressing so well. The practical nature of the MBT has meant that we have seen tangible benefits for the participants and the business already. We look forward to providing future cohorts for this exciting programme.” Maria Marsella, a current participant of the programme, commented on her experience, “My experience of the MBT has been totally positive. I’ve learned so much in such a short space of time, and I’m already reaping the benefits; I have a strong group of individuals to lean upon in my cohort who I’ve learned so much from, I’ve strengthened my own position in my immediate team, and I’m already carving out new career opportunities as a result of the MBT. I’m really looking forward to what the rest of the course has to offer, and I’m in no doubt it will prove hugely beneficial in the years to come.” The new MBT programme is highly relevant to organisations engaging with technology led business transformation and innovation, and is open to all sectors. If you would like to discuss how this programme can add value to your business, or if you are interested in other organisational development opportunities, please contact UUBS’s Business Engagement Team at engage@ulster.ac.uk

he unprecedented change brought about by the COVID-19 pandemic has revolutionised working practices and accelerated the pace of digital transformation in organisations globally. The mantra “with great change brings great opportunity” has evidently been embraced by many companies in the technology and professional services sectors in Northern Ireland who are at the forefront of shaping the environment for organisations in all sectors to grow and thrive in the future and the ‘new normal’. As individuals and businesses prepare for a digital future, skills in technology paired with business knowledge around its adoption and implementation sit front and centre to success. Many of the leading tech and professional services companies in Northern Ireland have expanded their operations and made significant investments in future growth. This has created a range of exciting employment and development opportunities for professionals at all stages of their careers. Candidates who can demonstrate an aptitude for combining commercial experience and business acumen with an understanding of technology and its implementation for transformation and business excellence are well-positioned to lead, influence and develop strategies for business growth. With many more jobs requiring a blend of business, leadership and technical skills, Ulster University Business School (UUBS) has designed the first MSc Business in Technology (MBT) course in the UK, specifically with this type of professional in mind. The innovative part-time Masters programme was co-created with the Ulster University School of Computing, Engineering and the Built Environment and PwC, with a view to meeting the future skills needs of the tech and professional services sectors. This unique programme brings a fundamental industry-led approach with practical application of the latest international pedagogy throughout. Leading global institutions such as Babson College and the Massachusetts Institute of Technology in Boston have consulted with UUBS on programme design to ensure that delivery represents the very best of global teaching and research. Business understanding, human insights and technology are the industry and future of work themes which overarch this world-class programme. Covering topics such as business analysis and consulting, stakeholder and client management,

UPDATE NI Chamber Chief’s

A new year brings with it new opportunities, fresh ideas, perspectives and in the current trading environment, unfortunately, continued challenges. At NI Chamber, we’re choosing to focus on the opportunities which 2022 presents, without taking our eye off the very real issues which many members continue to face.

t the end of last year, we hosted one of NI Chamber’s flagship annual events, the President’s Banquet. It was a wonderful evening in the company of colleagues and friends in business, as well as our inspirational guest speaker, Sir Mo Farah CBE. The theme of that event was ‘Moving Forward Together’ which was fitting, as we look towards new ways to prosper through partnership and collaboration. On the night, our President, Paul Murnaghan, spoke about the unique opportunities of dual-market access, our incredible talent base and reputation for innovation. He challenged us all to re-imagine Northern Ireland’s position in the world as a global centre of creativity, innovation and prosperity. That’s a challenge the NI Chamber team certainly accept. But there is work to be done to get there and we continue to play our part in delivering it. In the immediate term, we’re working extensively with the NI Business Brexit Working Group to keep issues highlighted to both EU and UK negotiators. In late December, we published the results of a trade survey with Invest NI, which assessed the impact of Brexit, one year on. It showed that 84% of businesses in Northern Ireland are dealing with increased costs, with 89% reporting increases in the time it takes to transport goods to or from overseas. But despite the significant challenges, the report also illustrated the potentially huge benefits of dual-market access, with Northern Ireland companies reporting much more concrete plans to grow both domestically

and internationally, compared to the UK average. We know that that the re-introduction of COVID-19 restrictions has placed a heavy burden on some sectors, particularly in hospitality and tourism. They need sufficient support, for as long as is necessary, to compensate for the lack of business they are faced with. This is something we will continue to stress. At NI Chamber, we are doing all we can to provide member businesses with practical support. We have an extensive package of services for exporters who are working under new trading arrangements and we are available to support and train any organisation which needs assistance. So if your team needs to up-skill in areas like Rules of Origin, customs declarations, commodity codes or incoterms, or indeed have bespoke requirements, please do get in touch to see how our in-house team of experts can help. In January, we’re also launching a new Learn Grow Excel training prospectus. Following the success of last year’s courses, over the next few months we’ll be providing access to accredited training in digital strategy, sales and presentation skills. In 2021, over 100 people joined one of those courses and we hope that even more will do so this year. In closing, I’m delighted to welcome our newest member businesses to NI Chamber, who represent many industries from media and technology, to manufacturing, agri-food and energy, as well as banking and professional services. We look forward to helping them, and all of our member businesses throughout the year ahead. 27

NEW MEMBERS CORPORATE LEVEL • McDonald's • RPS Group GROWTH LEVEL • Briefed • Eir Business • Germinal • Mammoth PR • SDS Energy • Simple Scaling • UFORM ESSENTIAL LEVEL • 7747media • Bank of England • Cara- Friend • Competition and Markets Authority • Cosimac • Datashred • Genesis • Marapco • NI Football League • O’Neills • Orchardville • Savage and Whitten • Sports Entertainment • TribeTech

* To become a member of NI Chamber join online at www.northernirelandchamber.com or phone the membership team on 02890 244113.

FEATURE

NI CHAMBER IN CONVERSATION WITH

ANN MCGREGOR MBE DL,

Chief Executive, NI Chamber Ann McGregor is Chief Executive of Northern Ireland Chamber of Commerce and Industry (NI Chamber). In episode six of the ‘In Conversation’ podcast, delivered in association with Narratology, Ann speaks to Mark Devenport about the role of education in shaping her career, what she has learned from holding voluntary and board roles, the development of her leadership style and the importance of professional development.

orn into a large family in Limavady, Ann tells listeners, “Education was always important to both my parents. They believed that it would improve our employment opportunities and therefore there was a big focus on working hard at school. As I progressed through my career, on the job training and development were also very important.” During the episode, Ann reflects on her early career path. “When I left Queen’s, I joined a Junior Management training programme which led me into a career in production management. My first job was as a Trainee Production Manager in Warne Surgical Products, in Lurgan. From there, I moved to England and

worked for two American multinationals – Plough UK and Birds General Foods. “The production management phase of my career was a great foundation for the world of work. I quickly realised that although I was a small cog in a big wheel, my role was important as it impacted others and the overall production process. I learned the importance of delivering on deadlines, open and early communication and to ask the ‘Five Whys’ to get to the heart of any problem and find resolutions.” Following her return to Northern Ireland, Ann discusses the development of her career. “We moved to Armagh, a place I wasn’t familiar with. The troubles were still on and I felt isolated at home with two young children and no support network. I decided to explore returning to work but unfortunately, industry wasn’t as successful then as it is now so the opportunities to use my experience were not available. So, I had to look at other areas and change my career path. “I joined a community training organisation in Dungannon as a Training Manager. I had no real training experience other than I had worked in industry and was able to demonstrate transferable skills. I saw it as a great opportunity to get to know Northern Ireland networks and what was going on in business and the economy. The scheme was perfect and helped me build on my business experience. “I ended up moving into economic development. Initially as a Social Enterprise Programme Manager, helping community groups establish social enterprises. As I gained experience, I moved to Workspace in Draperstown. I worked in consultancy across the region completing economic appraisals,

business plans, facilitating community consultations and bespoke training focussing on regeneration projects. “I then joined Business in the Community, leading the development of the organisation in the North West and their volunteering programmes across Northern Ireland. My role involved recruiting companies, establishing business leadership teams and facilitating links between businesses and the community, SMEs and sectoral groups. “After seven years at Business in the Community and as a result of the broad business experience that I had, I became the first Chief Executive of Enterprise Northern Ireland. The organisation was established to improve entrepreneurship and business growth. During my time, Enterprise NI was the largest third party supplier of business support (TPO). Working with a small but talented team, I managed the delivery of the business programme, loan funds, crossborder and all island programmes. That job helped me realise how small businesses make a great contribution to Northern Ireland. “When I moved to NI Chamber in 2008, it was an organisation that had both large and small businesses as members but the large businesses tended to dominate the lobby. With my background and expertise, I was able to move the business forward to recognise that SMEs make a big contribution to the development of society. “Because of my organisational ability, my quality management experience and business support background, I transformed the business and have a great team in place that are focused on supporting members and the economy.” Discussing her leadership style, Ann

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FEATURE

emphasises the importance of professional development. “My leadership style is democratic and I am very supportive of my team. I work hard to develop them and give them opportunities. No matter what the strategy of the business is, if I don’t have a team around me that has the tools to achieve it and who are aligned to the ambition of the company, I am going nowhere. Everyone at NI Chamber has a training and development plan. I use tools like Investors in People to help individuals see how they are part of the future of a business and how they can contribute to it.” “On a personal level, I believe in continuous professional development and keeping myself current. When I was in Business in the Community, I completed a Masters in Marketing and I am a Fellow of the Chartered Institute of Marketing. “Recently, I joined INSEAD, which is a management school based in France. I joined the International Directors Programme and it has been really valuable. The main thing I like about it is that it looks at how businesses create value.” Later in the episode, Ann shares what she has learned from holding voluntary and board roles, such as Deputy Chair of the Grand Opera House and member of the Senate at Queen’s University. “I have learned to understand how other

sectors work. You meet a whole different range of individuals, different departments and different personalities. Ultimately, what you learn is that you all have the same challenges in life and business and that you can share your experience and work together.’ “For example, recently the Opera House was undertaking a £12million renovation project. Although the CEO and team are excellent, board members were able to put a team around them to support them. This included a great Chairman who understands construction, another member who understands heritage lottery, another on finance and another on hospitality. People with different expertise but a common goal add value to other sectors.” Ann concludes the episode by sharing her optimism on the future of Northern Ireland and the economy. “If you read the newspapers at the moment, they give a very pessimistic view on life. But when you look at the economic data, such as our Quarterly Economic Survey and surveys from the banks, businesses are doing well. “We are getting too caught up in negativity when there are a lot of good stories to tell. We need to change the narrative – it can’t all be doom and gloom because there are fantastic things going on.

“I am positive about Northern Ireland and the economy in general.” Episode six of the ‘In Conversation’ podcast is available to listen to now on the NI Chamber website, as well as on Spotify, iTunes and Google Podcasts.

Hosted by Mark Devenport

FEATURE

Ann McGregor, Chief Executive, NI Chamber; and Steve Harper, Executive Director, International Business, Invest Northern Ireland.

Brexit, one year on: New report assesses the costs and opportunities for business

ne year on from the end of the Brexit transition period, 84% of businesses in Northern Ireland are dealing with increased costs, with 89% reporting increases in the time it takes to transport goods to or from overseas. According to an international trade report – “Brexit One Year On” – published by NI Chamber and Invest Northern Ireland, nine in ten of the region’s firms have experienced supply chain issues including rising shipping costs (77%), delivery delays (77%) and problems with product availability (72%). Two in three have experienced increased paperwork (65%), while two in five have experienced HGV driver shortages. Northern Ireland businesses have also reported higher

shipping container costs compared to other UK-based traders. Working with the British Chambers of Commerce, NI Chamber and Invest NI surveyed local businesses who are currently exporting or aspiring to export in the near future, to assess the impact of new trading rules and global challenges on international trade. According to the survey, most businesses (85%) have evaluated their supply chain risk. Around two in three have conducted procurement due diligence and a similar share have diversified suppliers to minimise risk. Some 59% have changed supply routes. Almost one in four have brought some or all of their supply chain back to Northern Ireland suppliers. Commenting on the report’s findings, Ann

McGregor, Chief Executive, NI Chamber, said: “The last 12 months have brought substantive changes for exporters and this report brings into sharp focus the serious issues they are facing with regards to supply chain difficulties and additional paperwork. Issues with additional red tape must be resolved and NI Chamber continues to work closely with the NI Executive, UK and EU negotiators on this issue. “Northern Ireland is not alone in facing trade disruption from the new trading arrangements. Many UK businesses are facing similar constraints, particularly in terms of transport delays. However, the findings suggest that the cost pressures that have been placed on local businesses are more acute, which potentially places them at a competitive disadvantage. “There is a lack of awareness from UK businesses about the Protocol. This highlights the need for education of GB businesses to support how they trade with their Northern Ireland counterparts. There is also a general need to raise awareness and engage much more proactively with businesses in Northern Ireland around all aspects of world trade agreements. “Despite the significant challenges, this report is further illustration of the potentially huge benefits of dual-market access. Northern Ireland companies have much more concrete plans to grow both domestically and internationally, compared to the UK average. “One of the biggest challenges to realising the potential benefits is uncertainty around the Northern Ireland Protocol: businesses cannot trade with uncertainty. Our exporters need clarity around the Protocol, less paperwork to complete and better access to skills. If policymakers can resolve these issues quickly and in partnership with business, Northern Ireland finds itself at the starting blocks of a unique opportunity at a time when we really need it.” Steve Harper, Invest NI’s Executive Director of International Business, added: “We are very aware of the many challenges Northern Ireland businesses have faced over the last year and we’ve been working in partnership with businesses to help overcome these challenges. At the forefront of this has been increasing both our communication with businesses and our support. “It is encouraging to see that knowledge of the many issues of Brexit is higher within the Northern Ireland business community than in the rest of the UK. Many businesses have already demonstrated that they can adapt and have successfully won new business globally and many have shortened supply chains to ease the pressures. “We want to continue to help NI exporters to grow globally. I would encourage those already exporting and potential exporters to engage with Invest NI so we can provide the support needed to overcome the challenges and ensure we are well positioned to seize the opportunities ahead to drive growth and prosperity in Northern Ireland.”

FEATURE IN PA RT N E R S H IP W IT H

BREXIT: ONE YEAR ON SUMMARY FIND IN GS

46% GROWTH PLANS

CHALLENGES

SUPPLY CHAIN & COSTS

42%

22%

Business expansion and investment plans are positive for 2 in 3 exporters

of exporters have concrete plans to grow in NI/GB markets

of exporters have concrete plans to grow in the Republic of Ireland/ EU markets. This compares to 17% of UK exporters in total

have concrete plans to grow sales in global non-EU markets.

Exporters want stability in the Northern Ireland Protocol, less paperwork to trade and better access to skills.

Political uncertainty around the Protocol

New paperwork/red tape with EU exit

Rising costs (raw materials, energy, wages) and pressure on prices

Supply chain disruption

Labour availability

84%

89%

62%

9/10

have experienced an increase the price of their goods and services

have experienced an increase in the amount of time it takes to transport goods to/from overseas

of NI businesses have been negatively affected by the time it takes to transport goods to/from overseas vs. 69% UK

NI exporters have experienced specific issues with supply chains with the biggest issues including:

23%

Rising shipping costs (77%) Delivery delays (77%) Problems with product

More NI exporters have experienced increased shipping container cost/supply disruption compared to the UK average (45% NI vs. 34% UK)

have brought some/all of their supply chain back to Northern Ireland suppliers (reshoring).

availability (72%).

THE PROTOCOL

98%

61%

31%

50%

know some detail about the Northern Ireland Protocol

have some knowledge about the Trade and Cooperation Agreement

have some knowledge of the Comprehensive and Progressive Agreement for TransPacific Partnership

of NI exporters know a lot of the detail of the NI Protocol compared to 12% of UK wider exporters

52% SUPPORT

31% finding a business

partner or distributor overseas

The most important supports that exporters consider would help their business trade internationally include:

believe that the views of business are not taken into consideration at all when it comes to assessing the practical impacts of new trade deals once implemented.

30%

networking with businesses that already export

29%

trade shows

25% trade missions

natural environment

NET ZERO

38%

advancing offshore

wind

35%

driving the growth of low carbon hydrogen

of NI exporters have experienced skills challenges v.s. UK 50%

42% capital grants

39% protecting our Of the UK government’s 10 commitments to net zero, businesses consider the most important as:

68%

28% The two most significant government incentives that would encourage businesses to reduce their carbon consumption into the longer term are:

tax allowances

NI CHAMBER PRESIDENT’S BANQUET

he President of Northern Ireland Chamber of Commerce and Industry (NI Chamber), Mr Paul Murnaghan hosted business and civic leaders at the 2021 NI Chamber President’s Banquet in ICC Belfast. Guests at the black-tie event heard from inspirational Olympic Champion Sir Mo Farah CBE, during a live interview with broadcaster Craig Doyle. The event was supported by headline sponsor BT, along with supporting sponsors Tourism NI, Tughans, and Phoenix Natural Gas, as well as drinks reception sponsor, Staffline.

4. 1. 2. 3. 4.

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Ann McGregor, Chief Executive NI Chamber. Craig Doyle and Sir Mo Farah, CBE. Craig Doyle, Ann McGregor, Sir Mo Farah and Paul Murnaghan. John McGrillen Tourism NI, Tara Pollock BT Enterprise, Sir Mo Farah, Paul Murnaghan President, NI Chamber, Michael McKinstry Phoenix Natural Gas, Tina McKenzie Staffline Ireland, Michael McCord Tughans and Gillian McAuley Devenish Nutrition. Paul Murnaghan welcomes guests. Event host Craig Doyle.

7. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17.

8. Tara Pollock, BT Enterprise. Ellvena Graham and Sir Mo Farah. Paul Murnaghan and Gordon Lyons MLA. Paul Murnaghan, Councillor Kate Nicholl, Lord Mayor of Belfast and Fergal Sherry. Nathan Montgomery, Heather Montgomery, Christine McGrath and David Watson. Paul Murnaghan, Sir Mo Farah and Tara Pollock, BT Enterprise. Paul Murnaghan, First Minister Paul Givan MLA and Ann McGregor. Niall Devlin, Julie Huddleston and Allister Kane. Sarah Dugdale and John Dugdale. Paul Murnaghan and Paul Kerr, winner of the star raffle prize donated by Turkish Airlines. Paul Murnaghan and Conor Murphy MLA.

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AMBITION Available in Small, Medium & Large

The Magazine of Northern Ireland Chamber of Commerce and Industry, is now available to view on Issuu. www.northernirelandchamber.com/ambition

An Ulster Tatler Group Publication

Top Firms Celebrate Success in NI Chamber Business Awards

ive outstanding local companies picked up winners’ awards at NI Chamber’s Business 2021 awards. FinTrU, Encirc, Cundall, Re-Gen Robotics and LUMENSTREAM were presented with their trophies by NI Chamber President Paul Murnaghan at the 2021 President’s Banquet in ICC Belfast. The winners went on to represent Northern Ireland at the British Chamber of Commerce Awards, competing against regional champions from across the British Chambers of Commerce network. FinTru was highly commended in the Global Player category at that virtual ceremony in December. The awards recognise and reward Northern Ireland’s leading exporters, green business initiatives, entrepreneurs and companies which prioritise diversity and inclusion. Encirc won The Planet Saver category, which recognises businesses’ sustainable best practice. Engineering consultancy firm Cundall won the Equality Trailblazer category, awarded for promoting inclusion within the workplace, customer base and local community. Re-Gen Robotics won The Problem Solver category, which recognises businesses which have transformed a product/service or the market it operates in. The robotic tank cleaning company was acknowledged for how it has transformed its market and handled the challenges that drove transformation. FinTrU won The Global Player category. The RegTech firm was acknowledged for its significant and sustained growth internationally. LED lighting specialist LUMENSTREAM picked up The Game Changer Award, in recognition of outstanding entrepreneurial spirit. Highly commended awards were presented to Henry Brothers (The Planet Saver); Denroy Group (The Problem Solver); InspecVision (The Global Player); Connex Offsite (The Game Changer); and Allstate NI (The Equality Trailblazer). Paul Murnaghan, President of Northern Ireland Chamber of Commerce and Industry, said: “Each year our judges are impressed by the calibre of entries, and this year was no different. I would like to wish all of our member businesses who were regional winners and highly commended my sincere congratulations. “Our business communities continue to generate prosperity and opportunity so it’s only right that we support and shout about the fantastic things they are doing. “Entering the Chamber Business Awards is an ideal way for our members to earn recognition for the innovative projects and new business wins they have been working on, even in the most challenging of circumstances. More than ever, businesses deserve to be celebrated for what they have achieved.”

1. Paul Murnaghan, President of NI Chamber and Alastair Brown, CEO, LUMENSTREAM. 2. Paul Murnaghan and Grainne Mulgrew, Project Manager, Re-Gen Robotics. 3. Paul Murnaghan and Darragh McCarthy, Founder and CEO, FinTrU. 4. Paul Murnaghan and Ruairi Dempsey, Associate Director, Cundall. 5. Paul Murnaghan and Fiacre O’Donnell, Director of Sustainability, Encirc.

5. 35

Business Confidence Holds Up Despite Significant Cost Pressures

Christopher Morrow, Head of Communications and Policy at NI Chamber and Brian Murphy, Managing Partner at BDO NI pictured at the launch of the latest Quarterly Economic Survey (QES).

• All key economic indicators positive in Q4 21, signaling improving trading conditions • 70% of NI Chamber members expect their business to grow in 2022 • More businesses are reporting increased UK sales (35%) in the last three months compared to those reporting falling sales (18%) • 74% expect to raise prices in the next three months – the highest figure on record • 72% are trying to recruit, with 86% facing recruitment difficulties Most businesses in Northern Ireland expect to grow in 2022, according to the findings of the latest Quarterly Economic Survey (QES) published by NI Chamber and BDO NI. However, inflationary pressures from mounting business costs including high raw material costs and pressure to raise wages caused significant concern during Q4 2021, particularly for manufacturers. Expectations to raise prices are the highest on record, with a greater share of businesses in Northern Ireland

expecting to raise prices in the next three months compared to all other UK regions. The share of businesses operating at full capacity rose to 45% in Q4 21 (39% in Q3 21) for manufacturing and 50% for services (47% in Q3 21), although over half of businesses are still operating below capacity. Brexit and the NI Protocol In the Q4 21 survey, firms were asked about the overall impact of EU exit on business performance over the last year. 23% of firms said it had a major negative impact on business, 39% a minor negative impact, with 21% stating it has had no impact to date. There has been a minor positive impact for 7% of businesses and a major positive impact for 3%. Businesses were also asked how they have adjusted to new trading arrangements. In Q4 21, 57% said that they had adapted to the new trading arrangements (compared to 45% in Q3 21, 44% in Q2 21 and 15% in Q1 21). There is a core of around 15% of businesses that are finding the new trading arrangements extremely challenging (13% Q3 21). In terms of resolving issues that have

emerged with the NI Protocol, 39% of members believe that these issues can be resolved in the next year, while 31% do not believe that they can within that time frame. Prospects for 2022 The outlook for business and the economy for 2022 is much more positive than has been the case in recent years. 58% of members believe the Northern Ireland economy will grow in 2022, up from just 19% for 2021. However, there is still quite a sizeable minority, 1 in 4 (24%), who believe that the Northern Ireland economy will contract in 2022. Businesses are particularly optimistic around their own prospects, albeit that for some businesses this is coming from a particularly challenging trading position in the last two years. 70% believe their business will grow in 2022, up from 44% in 2021. In fact, 12% believe that their business will grow strongly this year. However, 1 in 7 (14%) believe that their business will contract in 2022. Only 1% believe their business will decline strongly, the lowest recorded figure since prospects were first recorded in 2017.

Commenting on the survey findings, Ann McGregor, Chief Executive, NI Chamber said: “It is encouraging to see that confidence is keeping up in spite of challenges, particularly around pressure to raise prices. These Quarterly Economic Survey results indicate that there is much to be optimistic about at the beginning of this New Year. However, while there are many positives, we must also be realistic about the fact that multiple, serious challenges persist. “We know from members that inflationary pressures are very acute at the moment. Rising raw material costs are significant, particularly for manufacturers, driven by factors including

COVID-19, supply chain disruption and EU exit. There also appears to be growing pressure on businesses to raise wages. “At some point, firms have to pass on these cost increases and what we are now seeing is that expectations to raise prices are the highest on record among our members. A bigger share of businesses in Northern Ireland are expecting to raise prices in the next three months compared to all other UK regions, which could damage our regional competitiveness over time. “It is clear that adapting to new trading arrangements has been a challenge for many

and that outstanding issues with the NI Protocol need to be resolved. Despite this, survey responses in Q3 21 indicated that almost 70% of our members believed that the unique trading position as a result of the NI Protocol presents opportunities for the region. “As the UK and EU negotiators resume their discussions, we urge them to come to a timely and clear agreement to give businesses the clarity and certainty they need and that they build in transition periods to avoid further cliff edge deadlines.”

ANALYSIS

BY BRIAN MURPHY, MANAGING PARTNER, BDO NORTHERN IRELAND COVID-19, along with post-Brexit requirements are leading to shortages in raw materials and workforce, this is having a knockon impact for many businesses who do not have the resource to continue full operations. Currently 52% of companies are operating below capacity. The wider implications of Brexit are still being felt, with more businesses adapting to new trading arrangements (57%), but 36% of companies finding the new arrangements challenging. It is encouraging though that businesses are showing a commitment to working with these new arrangements and finding workable solutions to allow them to compete in their respective marketplaces. COVID-19 is no longer viewed as something that will subside in the medium term; rather businesses have accepted that they must operate alongside the pandemic, demonstrating the required health and safety elements that will protect staff, customers, and partners. It is encouraging to see that 82% of businesses were trading positively despite COVID, however more support is required for those companies struggling, or worse, who are on the verge of closure (15%). SMEs have always been at the heart of our local economy and it is now that we must do all we can to support them. Looking at Northern Ireland’s position in relation to local economies, in Q4 2020 we were lagging at the bottom for almost all key indicators, struggling to put our stamp on areas where we generally excel. Twelve months on, we have completely overturned this, improving our position in almost all indicators and a notable 70% companies expecting an increase in their performance and 58% expecting economic growth. This sentiment should not be undervalued. To predict what Q1, or any quarter of 2022 will look like would be unwise; the ever-changing landscape in the local and national economy makes predictions difficult. What we can do now is support businesses in planning for their futures, understanding and navigating the challenges they still face and where possible, provide additional support. As a business community we have built a strong foundation for our long-term recovery. The next steps will be to overcome inflationary pressures, simplifying trade across borders and managing the impact of COVID-19. We’ve come a long way in twelve months and we need to seize every opportunity that comes our way in 2022.

What a difference a year makes. Last January, the business community reported negative outcomes on all key indicators relating to the Quarterly Economic Survey, with sales, recruitment, investment, and confidence falling to a level that was having a detrimental impact on the future of many businesses in Northern Ireland. A year on, the positive reporting in Q4 (2021) of the very same indicators sees a foundation for recovery that we have not witnessed at any other time during the pandemic. Considering the scale of the challenges we have faced in the last two years, to be in this position is a real testament to the resilience, commitment and adaptability of the business community. The manufacturing sector is demonstrating a growing confidence with investment intentions at a six-year high. A better cash flow position for many companies within manufacturing will have contributed to this renewed confidence, the first time we have seen a positive cash flow position for manufacturing since 2018. That said, manufacturing faces significant challenges, particularly around the rising costs of raw materials and the resulting price rises that are expected. This is further impacted by increased wage settlements; we are higher than any other UK counterpart in this area. This disparity will add further pressure to the industry in terms of competing with GB. The services sector also faces rising cost pressures, with NI reporting the highest concerns across the UK. The sector also reported drops in domestic and export trade. Similar to manufacturing however, confidence has continued, with 70% expecting their business to grow as the industry continues to show strong regional performance. Recruitment activity remains high, with the services industry displaying the strongest performing region in terms of investment in training; and expectations around employment growth for manufacturing at its highest on record. This is caveated by ongoing challenges accessing the right people for roles in the industry and this will likely continue into Q1 of 2022. We’ve seen staffing levels across industries impacted because of the ongoing COVID situation and subsequent isolation rules. Accessing a range of recruitment options to alleviate this pressure will be a key part of recruitment strategies for many businesses going forward.

...Continued on page 38

...Continued from page 37

Quarterly Economic Survey Q4 2021

northernirelandchamber.com

Business Performance

Business confidence keeps up despite significant cost pressures

1 in 3 firms remain negatively affected by the pandemic

Breakdown & Sector Performance All key indicators are positive in Q4 21, signaling improving trading conditions. More businesses are reporting increased UK sales (35%) in the last 3 months compared to those reporting falling sales (18%). Inflation is a concern for 76% of members. Expectations to raise prices are highest on record (74% expect to raise prices in next 3 months). Recruitment activity is continuing, with 72% trying to recruit in the last 3 months. Firms are under pressure to raise wages, although investment in training picked up. Manufacturing recovery has picked up in Q4 21 but inflationary pressures escalate. Service sector recovery slows in Q4 21 but recruitment activity remains high

Brexit Watch

COVID-19 Impact

More businesses are adapting to new trading arrangements post EU exit (57% Q4 vs. 44% Q3)

Most businesses are trading positively (82%), with 39% trading well

EU exit has had a minor negative impact for 39% and a major negative impact for 23%

11% are just covering costs, while 4% are struggling and 1% are on the verge of closure

39% believe that Protocol issues can be resolved, while 31% don’t believe they can.

1 in 3 are performing better than pre-COVID, 1 in 3 around the same and 1 in 3 are performing worse than pre-COVID

1 in 10 say EU Exit has had a positive impact

Business Prospects for 2022

58%

expect the economy to grow

24%

70%

expect the economy to contract

expect their business to grow

Over 200 members responded to survey during the 4th quarter of 2021, accounting for almost 23,000 jobs Note: The ‘balance’ refers to the difference between the % of firms reporting an increase in a key indicator minus the % reporting a decrease.

14%

expect their business to contract

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FEATURE

Interview with

Neil Logan Partner, Wilson Nesbitt

Wilson Nesbitt advises the largest banks and financial institutions operating in the Northern Irish market and beyond. Their banking experts advise on volume residential lending, SME, corporate lending and real estate finance. Neil Logan, Partner for Banking & Financial Services, reflects on the past 18 months.

their funds back in which meant the funds could come back out to borrowers. However, this came with challenges: it was a new area of banking which meant we had to educate ourselves on what was initially a moving target. Ultimately it was an incentive for lenders to lend: it was good for the market. Most CBILS loans have since been paid back.

Has the pandemic impacted Northern Ireland as a business hub? The effects of the pandemic will resonate down the years, but it gave Belfast a rare opportunity to shine: the brain drain was stalled for two years; NI is now the only jurisdiction, post-Brexit, to be both in the EU and the UK; and there’s a huge draw to move businesses here due to education standards, low cost of living, improved quality of life, strong work ethic and high levels of employer loyalty.

What are the main lender types? We now see three types of lenders in NI: pillar banks, alternative lenders, and very high interest private equity. Alternative lenders have been more optimistic and commercial: they have come into the market with a fresh set of eyes and no burn marks from the 2007/2008 crash, they are challenging the pillar banks. Borrowers are going to alternative lenders happy to pay one to two percent more interest because they have smaller credit committees and tighter turnaround times. It’s creating a really healthy market in Northern Ireland. When it comes to development finance, there’s a huge gap for them in the market – it appears some of the pillar banks have given up on development finance. If you’re going to develop a scheme for high demand housing, for example, you can complete within 18 months where the lend is about 60% of the loan to value: it’s a safe lend by any account. Why not do the deal if everything stacks up?

Has this affected lenders and borrowers in NI? At the end of March 2020, there was almost a moratorium on lending with many investors withdrawing investment funds. At one point we were two days’ away from a two million pound refinance and the investors got anxious and that was it, the funds were withdrawn. This was compounded by the land registry literally closing, almost overnight, which virtually froze everything for two to three weeks. Since then, there has been an air of positivity about lending and borrowing here, thanks to the likes of a strong existing lender base, new lenders coming to town and the Government CBILS scheme helping businesses to get back on their feet. I have never seen as much money knocking about the Northern Ireland market – access to finance is very good. Did CBILS lead to greater liquidity in the market? The CBILS scheme was a godsend for clients. It gave peer-to-peer lender clients confidence to go to their investors and get additional funding. As it had an 80% government-backed guarantee the investors were happy to put

What opportunities lie ahead for those coming to NI? I saw a term sheet from an alternative lender offering an interest rate of 7.5%; this would’ve been unheard of two or three years ago. There’s real competition in the market and it’s going to heat up over the next two years. Clients that have come from overseas to do business aren’t leaving, they like it here. These businesses have low default rates on their loans, generating high yields. They benefit greatly from the smaller, tight knit community. Having a reputation for delivering on lending promises, quick turnaround times, being easy to deal with and having commercial views is the key recipe for becoming a busy lender in Northern Ireland.

Businesses will work with the same legal professionals, so you’re dealing with the same people all the time. Have you witnessed growth? One of our clients who entered the market four years ago has seen exponential growth. They have just taken additional office space in their central London office and are constantly recruiting graduates and experienced lending professionals. They have grown to a size where economies of scale come into play: they are more efficient, they know the market and they are confident and comfortable, taking on more loans – and better loans – as a result. They have reduced their interest rates and their package is very attractive. What is your advice to borrowers in NI? Be an advocate. There is property on the market that investors from the UK and the rest of the world would benefit greatly from and they might not even be aware of the opportunities. We’ve got the right conditions for success. Some recent high profile deals highlight the demand for some of the bigger ticket transactions in NI. For businesses buying here, their entry level is going to be lower than any other top city, but their yields are going to be higher. The opportunities for investing in Northern Ireland are huge.

“The opportunities for investing in Northern Ireland are huge. We’ve got the right conditions for Success.”

ECONOMIC GHOSTS OF PAST, PRESENT AND FUTURE Writing this column on the cusp of Christmas, it feels apt to reflect on the past, present and future of the local economy. And with issues like COVID, Brexit and rampant inflation very much on the agenda, there is no shortage of scary topics to discuss. 2021 was the year of the rebound and it was full steam ahead on the recovery with the roll out of vaccines facilitating that by allowing the economy to open up. This meant that vaccine queues were one of the images of the year, rather than the expected dole queues which were the ghosts of the past that didn’t come back to haunt us. However, there was no shortage of balls and chains trying to weigh the recovery down. Indeed, shortage was a notable theme over the past 12 months, from shortages of everything from HGV drivers to semi-conductors and building materials. These shortages hampered companies’ ability to maximise their potential and pushed up prices, impacting on profitability. Companies in some sectors were also haunted by new variants of the virus, the hospitality sector in particular. Indeed, for that sector, it was like a throwback to the 1970s and 1980s when visitors didn’t come. Whilst there was no shortage of cash in the economy this year due to the Chancellor

continuing to keep the coffers flowing, this stimulus is going to be tapered back. We did see the end of furlough and the removal of the temporary universal credit uplift. This provides a glimpse into the future which will include tax rises and interest rate rises to come. So, whilst Rishi Sunak has been more akin to Santa Claus over the past couple of years, he is likely to find his inner Scrooge in 2022, in the form of previously announced tax rises – indeed, the biggest tax rises in a generation – that will come into effect in April. The same could be said for the NI Executive, who have been handing out £100 vouchers in 2021 but will be under pressure to hand out higher rates bills in the year ahead. In the autumn, COP26 gave us a window into the future of what climate change will bring. This will put efforts to tackle global warming very much back on the agenda in 2022 and beyond, with all companies having to play their part in addressing it. Watch out for ‘greenflation’ – the added cost to consumers, households and businesses of being more environmentally friendly – as one of the features of the years ahead. Indeed, the cost of living crisis has returned with a vengeance and will continue to make its presence felt in the months ahead, not least in the form of higher energy prices and

with Russia, a ghost of Christmas past, re-energised and flexing its muscles again. Strike action is back on the agenda, too. Richard Ramsey The reality Chief Economist NI, of deep skills Ulster Bank shortages aligned to the cost of living crisis means that employers need to pay more and empowered workers are demanding it. The likelihood is that, in some instances, this will result in industrial action. On the positive side, 2022 will hopefully be the year when Northern Ireland sees the error of its ways regarding its Scrooge-like levels of historic business investment. The Chancellor’s super deduction provides a huge incentive to loosen the purse strings and the cash built up over the past two years could be splashed for the betterment of the economy. We’ll all raise a glass to that.

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FEATURE Lisa McIlvenna, Deputy Managing Director, BITC NI presenting the CORE responsible business accreditation to Sinead Patton, Regional Director, Veolia NI

The Sustainable Force A global leader in providing sustainable solutions for businesses across a multitude of sectors, Veolia, is driving forward how our manufacturing sector, and beyond, gears up for Net Zero emissions. The company’s Northern Ireland team talks to Emma Deighan. 42

eolia is an international environmental services company with its roots in France. It employs 178,000 people around the globe, 15,000 of which are based in the UK and Ireland. Here in Northern Ireland its team of 150 are on site at some of the most prominent manufacturing bases, figuring out, realising and executing solutions that ensure the client is at the top of their game when it comes to lowering their carbon footprint and embedding long-term sustainability into their business. Among those businesses are some of NI’s best-known food and drink producers, manufacturers and public sector names. Veolia provides the latter clients with flexible solutions to water, waste and energy that can help them respond to market changes in an efficient, cost-effective and compliant way. It also brings a mix of tried and tested technologies and innovative thinking to deliver those solutions. What we do is look at all aspects of what the client does to help their environmental footprint. In Northern Ireland, specifically, we generally work with manufacturing businesses on site where our expertise covers engineering needs,” Donald Walker, Business Development Manager, begins. The company has a number of employees in fixed roles around sites in NI, including NI Water locations. While on site, Veolia often takes full control of the technical side of operations, leaving businesses to focus on their core offering. Niall Diamond, Site Manager, FM Contracts explains: “We work in partnership with key manufacturing clients, through an outsourcing arrangement. This means a business outsources its site utilities that support the production environment. We then provide, operate and maintain a service

FEATURE for that area of the business, effectively taking ownership of that plant by being onsite, permanently.” It’s very much a partner-integrated setup, Niall says, with Veolia’s main job to “deal with the noise” affording time and space for our customers to focus on what drives their turnover. It’s a unique service too, an emerging and sophisticated one, that is set to ramp up here as the Executive prepares to secure NI-specific climate legislation following a consultation on two bills which went before the Assembly recently. Niall says beyond the sustainability element, Veolia’s partnership with clients also yields financial returns. It means investing in sound environmentally friendly practices will pay dividends in the long term. “What businesses found prior to operating this model with Veolia is that services in plant rooms often received minimal attention and, over the years, this plant and equipment are no longer in prime condition and there are cost savings to be made by upgrading them and managing them efficiently.” The company, which has had a presence in Northern Ireland since the 1990s, has welcomed a boost in business, thanks to increasing talks around Net Zero 2050 and last year’s COP26. It says conversations with new clients are underway and plentiful. Donald adds: “Every organisation now is identifying their role in the drive to Net Zero. We’re seeing a lot of conversations happening, a lot of initial conversations with new clients around that piece and that’s because it’s a big part of our expertise. We identify roadmaps for clients, and projects as they go along that route.” He says the business’ global reach and specialisms in waste management and

water services also allows it to expand its offering to accommodate any client, no matter their sector and size. Veolia’s relationship with NI Water, for which it treats 20% of the country’s wastewater, is another huge area of its work here. It also operates and maintains the wastewater Sludge Disposal Service at Belfast’s Duncrue Street incinerator, which treats all of Northern Ireland’s wastewater treatment works sludges. Nick O’Hara, Operations Manager, Municipal Wastewater, points out that this work is very important in terms of protecting Northern Ireland’s rivers and loughs. “The work we do protects the water in Lough Neagh and ensures that the water in Strangford Lough meets the Shellfish Directive.” Donald, says every business here needs to pay attention to its carbon output and the sooner the better. “Being green used to be something that was nice to do but today it’s a necessity. If you’re a business that procures Government contracts, you’re going to need to illustrate how you’re driving your carbon reduction. “Your customer base is also driving requirements and your carbon emissions are also part of someone else’s Scope Three emissions and that’s a never-ending cycle. “We help by putting businesses through a process, gathering their data, analysing it and then coming up with carbon reduction initiatives which we can then supply to the client.” He says the company begins with “the low hanging fruit projects first, and then we get more granular, fine-tuning the process.” Among Veolia’s more unique global solutions to carbon saving for businesses is its work with Netherland’s coffee producer, Douwe Egberts Master Blenders. The company partnered with Veolia to reduce its gas usage, the result of which has seen

The Ballynacor Wastewater Treatment Plant which is operated by Veolia

FEATURE it convert 33,000 tonnes of spent coffee beans — the residue left after the brewing process — into an energy source every year. The result is a 14,000 tonne reduction in CO2 output annually. The company is also working on carbon capture technology, which allows carbon dioxide to be extracted from emissions and then compressed and/or liquified. It can then either be used in industrial applications or can be pumped into underground stores, such as those

under the North Sea. This helps to reduce the amount of CO2 released into the environment and promotes a carbon circular economy. Donald says Veolia’s role in the drive to net zero and boosting circular economies within businesses will be prominent here and globally, thanks to its bespoke tech, global reach and world firsts. He adds: “Our job is to make sure that our customers keep going and that they can concentrate on their product. We take away a

level risk and they don’t have to worry about what’s happening in the boiler room. “There will be an increasing focus on our carbon output and businesses know that this is not a single-project solution they can use quickly. This is a five to 10-year plan. It’s a process to make your whole business sustainable and not because it’s a good thing to do, it’s the right thing to do for the business and the broader society. It’s your environmental social return.”

“Being green used to be something that was nice to do but today it’s a necessity. If you’re a business that procures Government contracts, you’re going to need to illustrate how you’re driving your carbon reduction.”

Members of the Veolia team in Northern Ireland

Fr i endl y Fl exi bl e Aﬀor dabl e

FEATURE

New Opportunities Philip Cochrane, Vice President of Delivery for Northern Ireland at Teleperformance, tells Emma Deighan how the company’s adoption of new technology during the pandemic has enabled the firm’s two large-scale call centres here to work from home while exposing it to a whole new talent pool.

FEATURE

t most, 25% of Teleperformance’s NI staff are based within the office at any one time since the government eased lockdown rules. There are around 2,000 in the NI team. It’s a setup that is both client and pandemic-led but also one that has been made possible by the fast adoption of new technology during the first lockdown in 2020. The company’s integration of its own software, Cloud Campus, has been at the core of the huge logistical task that was shifting the bulk of its team to home working. It’s a technology that the company describes as its “most efficient and effective model for hiring, training, and managing remote teams while ensuring exceptional, consistent customer experiences”. It means users can be based anywhere but maintain connections with supervisors and colleagues via the Cloud Campus Hub. The technology has also revolutionised how Teleperformance reaches new talent, thanks to its ability to break down geographical barriers. “We are working on a project right now that allows us to move to Cloud Campus full time,” Philip begins. “A lot depends on the client, their needs and the statistics of how everything performs – both our people and the technology.” Philip was previously based in Manchester, travelling around GB prior to the pandemic, but in June 2020 he returned home to oversee the company’s Bangor and Newry bases. “It was a huge piece of work – to move up to 14,000 UK staff to home working back in April 2020,” he recalls. “There were multiple cogs turning, multiple departments working together and it was a lot to ask of everyone. The business completely changed overnight.” Teleperfomance is a global firm, servicing 170 countries with customer service resources to back office teams, accounting services, collections and a proportion of sales for a multitude of high profile clients. In Northern Ireland this includes sensitive public sector organisations to well-known commercial businesses. Philip says out of its 70 customers within the UK, “one or two must be done from the office due to the sensitive nature of work”. Growth has been constant across all but one of the company’s customer bases, he adds. “We’ve seen nearly all of our sectors grow with the exception of the holiday market. Travel stopped completely. The growth in other areas did put a lot of strain

FEATURE

“We see Cloud Campus as being able to help people to do their job from home and the logical conclusion would be that we wouldn’t need two sites in the same city, but to my knowledge we are not looking to close anywhere.” As the company grows, which it has in Northern Ireland, gaining an extra 500 team members throughout the pandemic, the methods the company uses to recruit individuals has also changed, says Philip, with technology also key to the process. “The way we recruit now is moving towards being fully automated and it works because the market tells us a lot of younger people, which make up a good portion of the people we recruit, don’t have CVs, so we ask is a CV even required? It’s not really. So what we do now are tests virtually on PC or mobile device, automated tests. That might be a grammar or knowledge test and towards the end of the process we can do a more in-depth analysis of the candidate. That automation frees up time and it also helps the interviewee. A lot of people don’t perform their best in an interview process because of anxiety or mental health problems, so if someone is able to do the bulk of the application on their own, they find it easier on recruitment because we needed to find

towards their renewal date in the UK, but

all these people while completely changing

the way we see it is we always wanted

our traditional recruitment strategy,” he

a presence in Northern Ireland. We have

when the travel sector recovers, Philip

continues.

two sites here and both are in very good

anticipates a demand in outsourcing

locations. Would we close one? Potentially,

customer services.

With that challenge came opportunity,

to come on board.” More growth is on the cards too and

he adds. “Now you can work from

but only if all the clients that use that centre

anywhere in the UK for Teleperformance;

agree to move to Cloud Campus to allow

and we always want to look at what

it brings advantages and it widens the

everyone to work from home permanently.

new sectors are coming out there and

He says: “We always look at growth

pool, so we set about sourcing new people,

who wants to work with us. We have

strategising our reach to these people.

an amazing brand globally and we’re in

“We identified places like Wales where we didn’t have a call centre before and went there to advertise. The same happened in London, which was a massive untapped resource for us. The population there is massive and being able to work from home has enabled us to recruit there. “It’s changed how we work completely. It’s exciting to get different cultures together.” Asked if the new shift in where its teams can work will determine the physical presence Teleperformance has in NI, Philip says not in the immediate future.

“Now you can work from anywhere in the UK for Teleperformance; it brings advantages and it widens the pool”

“We have a couple of premises coming

contact with potential contracts with a number of new ones in the pipeline. “More expansion is on the cards for 2022 and that will bring opportunity. I also expect the holiday industry to come back and in the next year or so we could be looking at an explosion of growth in that area. “We want to be there and ready to work in partnership with clients, and the more we innovate and the more ideas we have, the more we can show them that we can give them a better service; from enhancing their website or product to helping provide that full customer service experience.”

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FEATURE

An Eventful Task Ahead Julia Corkey was one of many business leaders who stepped into a prominent role at the height of the pandemic. Here, the chief executive of ICC Belfast, Waterfront Hall and Ulster Hall, talks to Emma Deighan about delivering economic impact through the events sector.

Charlie McCloskey, Head of ¬Events & Customer Experience ICC Belfast, Waterfront Hall & Ulster Hall; Julia Corkey, CEO ICC Belfast, Waterfront Hall & Ulster Hall; Mark Goodfellow, Chief Operating Officer NICTS and Anthony Harbinson, NICTS Director.

ulia Corkey was one of many business leaders who stepped into a prominent role at the height of the pandemic. Here, the Chief Executive of ICC Belfast, Waterfront Hall and Ulster Hall, talks to Emma Deighan about delivering economic impact through the events sector. In July 2020, Julia Corkey believed her new job heading up ICC Belfast, Waterfront Hall and Ulster Hall would face short-term challenges borne from the pandemic. Fastforward 19 months and challenges remain, but pent-up demand for events has seen her establishments thrive, despite the backdrop. “It’s been tough. When I took up the position, I never thought we would be operating under the level of restrictions we were over a year later. Early on I was optimistic and believed we’d be opened by September 2020. Our industry was the first to shut down and the last to reopen. Amid all the uncertainty one thing remained clear from the outset, we were going to be in this for the long run,” she begins. Support from the venues’ shareholder, Belfast City Council, and a diary packed full of rescheduled events kept ICC Belfast and its sister entertainment venues focused on the future and remaining match fit for their reopening. At one stage over 90% of all team members were furloughed while a skeleton crew remained to reimagine the business portfolio and its offering as well as accommodating other socially distanced events during lockdowns. This includes ICC Belfast’s contract with the Northern Ireland Courts and Tribunals Service (NICTS) as a COVID-secure Nightingale venue to help process a backlog of trials. And as of the middle of last year, the venue had played host to 17 inquests heard by the Coroners Court as well as preliminary hearings, 24 Small Claims Court sittings, three Special Educational Needs and Disability Tribunal hearings and the Appeals Service had completed 45 sitting days for appeals for benefits decisions among many more legal events. Justice Minister Naomi Long credited the venue and its staff, saying: “I welcome an asset such as ICC Belfast being put to such an important use during the pandemic. Both I and my officials are very grateful to the leadership team and staff of ICC Belfast who have not only provided the venue but who have worked very closely and effectively with NICTS staff, the judiciary and the legal profession to provide a safe space for courts and tribunals users.” Julia continues: “The Nightingale Lagan was in operation for nine months, during which time we worked collaboratively alongside the NICTS team to ensure operations ran smoothly. To facilitate an essential public service, alongside the delivery of a host of other events including Ulster Orchestra rehearsals and over 30 hybrid business events whilst mandated shut was incredible and is testament to the resilience of our team.”

FEATURE By adapting the 2000-seater main auditorium, the Ulster Orchestra were also able to continue operating at the venue, performing with three metre social distancing in place. Through the use of divider screens and masks throughout, it saw the Waterfront Hall set the stage for over 40 outstanding classical musicians to produce and record music for BBC and beyond. Then, once restrictions eased, pent-up demand was evident in a flow of bookings, Julia says. “The appetite has been very strong. Since we opened at full capacity in September 2021, we’ve had over 80 business and entertainment events. Looking ahead to 2022 the work that was done to retain bookings through postponements rather than cancellations will continue to pay dividends as we gear up for a bumper year.” Among those events was the Northern Ireland Chamber of Commerce and Industry’s President’s Banquet, a Snow Patrol concert, the Premiere of Kenneth Branagh’s Oscar-tipped ‘Belfast’, the European Association for Behavioural and Cognitive Therapies (EABCT) Annual Congress, and the AIB Business Awards – all of which were permitted to proceed at full capacity. Julia says travel restrictions and a new model of working have yet to be felt in the diary of listings but investment in hybrid conferences will accommodate any type of demand from conference organisers.

“The appetite has been very strong. Since we opened at full capacity in September 2021, we’ve had over 80 business and entertainment events. Looking ahead to 2022 the work that was done to retain bookings through postponements rather than cancellations will continue to pay dividends as we gear up for a bumper year.” “We’re keen to get delegates back here,” she adds. “Because that’s what brings the economic impact and the feedback we are getting now is that people want to meet up, people want to come together. With more working from home, there has been a renewed focus about that element of socialising and its importance in building networks and collaborating with other delegates. There is definitely demand there.”

She continues: “Prior to COVID-19, we were building a thriving business, having delivered on a £100million economic impact target a year ahead of schedule. Belfast’s star was on the rise as a conference destination and it will be about catching that again.” With the Department for the Economy on her side as well as a host of ambassadors as part of a new collaborative scheme to get businesses bringing events and investment to NI, Julia’s well equipped to recoup her venue’s successful momentum gained before the pandemic. DfE launched a £1million scheme to bring more business events to Northern Ireland. Economy Minister Gordon Lyons said the Conference Support Scheme, first created in 2010, was revised and relaunched to help support the recovery of the tourism industry. It will see conference organisers receive £50 for each out-of-state delegate who visits Northern Ireland. “People are interested in Belfast as a conference destination. They’re intrigued by the journey it’s been on and the feedback we get from people who come here is they love it; it’s walkable, we have great entertainment, a great welcome and we’re an award winning venue and people look forward to coming back to the city.” She says she’d like to see better connectivity to open up access to more delegates but concludes that hope is rife, strengthened by a collaborative approach across business and hospitality. “The willingness to collaborate across the city is huge and that is a great advantage because when we win, everyone wins. When we work with the Ambassador Circle and different organisations there is a real sense of team Belfast. We have a good strong mix of conferences coming and we look forward to getting out there and selling the city.”

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FEATURE

Succession Planning for the Future In these uncertain times, succession planning is a vital consideration for any business. Here, the team at Cleaver Fulton Rankin outline the importance of having a succession plan in place, including the key steps which should be considered to ensure businesses stay ahead of the curve.

FEATURE (Pictured L-R) Private Client team members including Timothy Rankin; Melissa Ruddock; Brid McColgan; Rachel Black; Michael Graham; Aisling Wogan; and Nemonie Fulton.

FEATURE

hat is succession planning? Succession planning is the process by which current

owners and managers of businesses identify and develop a plan to ensure that the transition is as seamless as possible, while ensuring both that the business legacy is secured and that the exiting owner is able to extract fair value for the time and effort put into the business over the years. Why is a succession plan important? The day-to-day challenges of running a business can be daunting, but none is more challenging than the realisation that eventually control of the business will have to be transferred, whether to the next generation in a family business, to a key employee in the business, or to a third party. Traditionally, succession planning focused on ownership and senior management positions, but more often than not businesses are keeping all key roles under constant review to ensure that in a climate with constant job and skill shortages, businesses can ensure that they keep ahead of the curve. In any event, it is important that businesses remember that in many cases ownership and management may be different, and ensuring appropriate succession planning is in place for the management team who likely run the business on a day-to-day basis, as well as the owners, will assist in securing a seamless transition when the time comes. When should a succession plan be considered? A succession plan should be considered as early as possible in the life cycle of any business. It should remain under regular review as part of its business plan, and be capable of being adapted as circumstances change.

“Ensuring all persons in key roles have suitable and robust employment agreements in place”

KEY CONSIDERATIONS:

7. Tax planning

1. Good Communication

planning can ensure that an owner is

Keeping the management team and, where relevant, family up to date with decision-making and future plans is vital to ensuring successful succession. Good corporate governance is important so that formal business decisions are taken

Obtain tax advice early. Good tax able to maximise the value he or she is able to extract from the business on exit.

8. Invest in insurance Key man or Cross-Option Insurance can

appropriately and recorded accurately.

pay out to the company or to family

2. Business Plan

or death and can provide certainty to

members in the event of critical illness

Draft a business plan which should

business owners and managers at the

be kept under review and updated

most uncertain of times.

regularly, ensuring that all key persons in management positions are aware of the

9. Power of Attorney

contents and contribute to such plan.

Put in place an Enduring Power of Attorney sooner rather than later, in case

3. Employment Agreements

this is ever needed. Should an owner or

Ensuring all persons in key roles have

director lose mental capacity without

suitable and robust employment

having an Enduring Power of Attorney

agreements in place. Such agreements

in place, an application would need to be

should clearly set out roles and

made to the Office of Care & Protection

responsibilities, include appropriate

in the High Court to appoint a controller

restrictive covenants and confidentiality

to deal with their property and financial

and intellectual property provisions.

matters. This is often a lengthy and

4. Shareholders’ Agreement Where there is more than one shareholder, draft a shareholders’ agreement as early as

costly process, during which time it may not be possible to do anything with these assets.

possible. Such an agreement can provide

10. Write a Will

mechanisms via which owners can exit the

Having a carefully drafted, tax-efficient

business.

will is vital in terms of safeguarding

5. Seek professional advice

your business and ensuring that your business assets pass to the individuals

It is important to take professional

you choose. Wills should be reviewed

advice in relation to the tax

regularly in conjunction with the terms

consequences of your will, particularly

of any partnership agreement, articles of

in light of the availability of Business

association or shareholders’ agreement

Property Relief from Inheritance Tax

to ensure that your business interests can

in certain situations, as effective

pass by your will.

tax planning in your will can lead to significant tax savings on your death.

6. Reward goodemployees Incentivise key employees to stay and grow within the business. Such incentives can take the form of competitive salary and benefits packages, performance related bonuses or the use of share option schemes.

For advice and guidance, please contact info@cfrlaw.co.uk or visit our website at www.cleaverfultonrankin.co.uk.

FC-AMBITION.v3.pdf

16/12/2021

23:48

CMY

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Columnist

John Campbell Economics & Business Editor, BBC Northern Ireland

Inflation Looms BBC NI’s Economic & Business Editor, John Campbell, discusses what economic hurdles may lie ahead for 2022.

n the lean months of January and February the balmy days of summer feel a long way off. For some businesses that feeling is more intense this year: what was a summer boom has been replaced with more pandemic uncertainty and eye-watering energy bills. The official figures from the NI Statistics and Research Agency (Nisra) show that in the period from July to September a recovery was in full swing. Output in the dominant services sector was up almost 6% on the year and 3% on the quarter. That growth meant that services sector finally recovered the output lost during the property crash recession almost 15 years ago. The strong performance came in a period when COVID restrictions had been lifted and the sun was shining. At that time some restrictions were still in place in the Republic and tourists streamed north – a stroll round Belfast city centre made it obvious that retail and hospitality were doing well as a result. However it was finance and business services which may have been having the best time. Output was up by 4% on the quarter and 17% on the year – this was most probably a story about pent up demand in the housing market which meant a busy time for solicitors, estate agents and mortgage lenders. With the vaccine roll out going well and a soft landing for the furlough scheme there was real optimism in the early autumn. But for the hospitality sector, and to a lesser degree retail, the Omicron wave made for a very difficult end to the year. Across the UK hospitality businesses feel badly short-changed: the public health message discouraged people from going out

while the financial support was limited. At the time of writing the broader economic impact of Omicron is unclear but hopefully it can be contained, as the last year has demonstrated that businesses have become better at living with the virus. But aside from – and in some cases linked to – the pandemic, there are other looming challenges in 2022 which are mostly about inflation. At the start of the new tax year on 1 April a slew of measures will take effect. The VAT rate for hospitality and accommodation is set to return to the standard 20% rate. National Insurance rates will rise by 1.25 percentage points for both employees and employers. Employers will also have to fund minimum wage increases of between 4.1% and 9.8%. However it is energy price inflation which will be the big story for at least the first half of 2022. The Resolution Foundation think tank, which focuses on the living standards of people on low-to-middle incomes, has concluded that energy costs will drive ‘a broad-based cost of living catastrophe affecting the vast majority of households’ in the UK. There have been a series of announced price rises in gas and electricity, the latest of which took effect on 1 January. Unfortunately there are probably more to come as wholesale

“There have been a series of announced price rises in gas and electricity, the latest of which took effect on 1 January. Unfortunately there are probably more to come as wholesale prices continue to touch record highs.”

prices continue to touch record highs. The Department for Communities has announced an emergency payments scheme for those households “severely impacted” but it is modest in its scope with a budget of just £2m. It’s not yet clear whether Stormont or the UK government is planning a bigger intervention to help consumers and businesses. Across the economy as a whole the Bank of England expects inflation to remain around 5% through the majority of the winter period, and to peak at around 6% in April. That is all based on the assumptions that energy prices stop rising, global demand rebalances from goods to services and supply disruptions ease. There is obviously lots of uncertainty about the accuracy and timing of those assumptions. As the Bank itself said in its most recent monetary policy report, “a potential worsening of global supply chain disruption could also push up on inflationary pressures. “For example, China’s current zero-COVID strategy could lead to renewed disruptions at Chinese factories and ports, and could affect shipping costs”. The Bank’s dilemma in this situation is that it does not want to be seen to do nothing in the face of rising inflation but that putting

up interest rates is not going to do anything to speed up operations at Guangzhou’s container terminals. Supply chain inflation is also a feature of the Northern Ireland Protocol. However you view the protocol politically, it is an undeniable fact that it makes it more expensive to move goods from Britain to Northern Ireland. Those costs will eventually show up somewhere, whether as increased prices or reduced profits. Some commercial mitigation has been possible by sourcing products locally or from the EU, but hopefully a more comprehensive political mitigation can be agreed this year. Just before Christmas the EU published its latest plan to guarantee the supply of medicines from GB to NI. My initial reading of that plan is that it takes on board industry concerns about an earlier proposal, for example removing the need for NI-specific packaging and leaflets. The UK government has not yet given its verdict on this proposal and progress has been much more limited in other areas, particularly on the regulations for food products. Many in business, particularly manufacturing, will be hoping that a comprehensive deal can be reached on streamlining the protocol. But time is short and the politics remain extremely volatile.

Columnist Jane Shaw The Elmfield Institute

What Does it Mean to be Well?

he new year often means plans for a new you, new resolutions for your health and wellbeing. But what does it actually mean to be well? What is health? Does it mean physical, emotional, or mental wellbeing?

years in Vancouver’s Downtown Eastside with people challenged by severe drug addiction, describes health as an ability to be with pain. In other words, from his perspective, being well is a capacity to hold our pain in relationship to the whole of our lives. The pain he refers to is physical, emotional, or social. To my mind Maté’s perspective gives us more choice over our wellbeing. If we have the capacity to be not-okay, then it allows us to have more compassion towards ourselves and others. This then strengthens our ability to be in regulated relationship with others, causing a positive feedback loop for our wellbeing. The next time you feel overwhelmed and consumed by the thing that hurts, can you widen your perception to see the bigger picture? Can you see an image of wholeness? Can we see what is working for us? This helps us to be less defined by our pain. That is not to say we push the pain away, rather we see it in relationship to the rest of us and our surroundings. Conscious awareness of the big picture and of what makes us healthy gives us more choice over what is means to be well for ourselves. Each of us will have a different preference and emphasis on the physical, emotional or social aspects of our wellbeing. We are individuals making up a whole society and difference is important. For me, being well is being able to connect to love, compassion and kindness, no matter how painful is my physical, emotional, or environmental state. What is the one thing you can do this year to support your wellbeing? Maybe it is simply a different perspective.

Here at Elmfield we have a large chalk board asking the question What does it mean for you to be well?, inviting responses from all our visitors. Business executives, wellness retreat guests, children, parents and grandparents all contribute, leaving words such as “connection”, “no pain”, “agency”, “freedom”, “having time with my dog”, or “time to dance”. These answers speak to the growing awareness of a bio-psycho-social model of health – the idea that the disciplines of biology, psychology and sociology interconnect in the study of health and disease. We want physical wellbeing but also need emotional and community wellbeing. Human beings are complex interconnected systems so it helps to be aware of what supports us to feel well and the parts that connect to form the whole. Incidentally, the etymology of the word health is whole, meaning not divided into parts. Dr. Dan Siegel (2012), a pioneer in mental health, talks about the importance of interpersonal neurobiology in wellbeing. His theory holds that our brains are constantly being rewired through our relationships with others. In other words, we are all connected to each other through our nervous systems and thus are affected by our social environment. His works tells us that social pain is coded in the brain in a similar way to physical pain. Healthy relationships are important for our wellbeing, whether at home or at work. To my mind, a healthy business has healthy relationships. It is hard to be well in isolation of others. The research of psychiatrist and neuroscientist Dr. Stephen Porges (2020) also supports the notion that our wellbeing is supported by our ability to co-regulate with others. The pandemic has added to the collective and individual pain body due to lack of social connection, the fear of getting ill, and increased financial pressures. Not only do we have many extra stresses, but we have lost one of the biggest ways humans regulate – connecting with each other. Porges reminds us that without the resources of co-regulation we are vulnerable to adaptive defensive states. We are more likely to get angry, anxious, or aggressive inappropriately when we don’t have others around us to regulate us, at a neurophysiological level. If health and wholeness are one and the same, how can we find more wholeness in our lives. What does wholeness in our lives mean? Physician and trauma expert Dr. Gabor Maté (2003), whose Compassionate Enquiry practice evolved out of working for many

“Healthy relationships are important for our wellbeing, whether at home or at work. To my mind, a healthy business has healthy relationships.”

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FEB 22 02 Feb 03 Feb 04 Feb 07 Feb 08 Feb 09 Feb 10 Feb 10 Feb 11 Feb 14 Feb 14 Feb 15 Feb 16 Feb 16 Feb 17 Feb 21 Feb 22 Feb

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Proofreading Professional Selling Skills MS Word Accessibility Resilience and Wellbeing Presentation Skills Whistleblowing 14 Mar Leadership Skills 15 Mar Facilitation Skills 21 Mar Competency Based Interview Skills 22 Mar Adobe Acrobat Pro 22 Mar PRINCE2 Accredited 23 Mar Sage Cloud Accounting 24 Mar Creating Video on your Mobile 25 Mar MS Project 28 Mar Storytelling in Business 29 Mar Minute Taking 30 Mar PA Development 31 Mar

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JUN 22

MS PowerPoint Storytelling in Business MS Word Advanced Design for Non-Designers using Canva 07 Jun HR Fundamentals 08 Jun Adobe Acrobat 08 Jun Emotional Intelligence 09 Jun Sage Cloud Accounting 09 Jun Manager as a Coach 14 Jun Creating Video on your Mobile 14 Jun MS Project 15 Jun MS Excel Intermediate MAY 22 15 Jun Professional Selling Skills 03 May Fraud and Cyber Awareness 16 Jun People Management 03 May PA Development Advanced 16 Jun Assertiveness Skills 04 May Customer Service 21 Jun Introduction to Project Mgt 04 May Resilience and Wellbeing 21 Jun Proofreading 05 May Hootsuite 22 Jun Mailchimp Email Marketing 05 May Minute Taking 22 Jun Conducting Investigations 06 May Drafting Tender Documents 09 May Interview Skills for the Interviewer 23 Jun Mentoring Skills 23 Jun Competency Based Interview Skills 10 May Managing Conflict 24 Jun Influencing & Negotiation 10 May Business Continuity Planning 27 Jun High Performing Teams 11 May PA Development 28 Jun MS Excel Advanced 11 May Fundamentals of Digital 28 & 29 Jun Adobe InDesign Marketing & Social Media

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FEATURE

Tourism in Northern Ireland had surpassed the £1billion mark before the pandemic hit. Now, like the rest of the world, the industry is on a road to recover what was lost during the pandemic. Emma Deighan talks with Tourism NI Chief Executive John McGrillen about the task ahead.

ohn McGrillen says tourism here broke the £1billion glass ceiling in 2019. “It was the first time in our history that tourism spend reached such a level and everything was looking positive,” he begins. “Then, in early March 2020 everything was turned on its head.” It’s been estimated that the tourism industry across the whole of the UK at the height of the pandemic saw a reduction of 98% in air passengers. Restrictions within the hospitality sector, domestically, compounded that pressure. “We were pretty much shut down until the end of June 2021 when at least things opened domestically,” John continues. “Since then there have been many twists and turns and the pace has been frenetic. “The tourism industry had fundamentally shut down and we knew the impact was going to be greater than on any other sector. We also knew we would be the last to come out of this and the sector needed its own dedicated support programme.”

Crisis meetings led to the setting up of a Tourism Recovery Steering Group which oversaw the development of a crossdepartmental Tourism Recovery Action Plan. Actions within the plan – alongside the business support grants and rates relief provided by Stormont, and the VAT reduction and scheme funded by Westminster – offered the industry some protection, but recovery is going to be a long and winding road. In the absence of visitors from overseas it was the responsibility of Tourism NI to do what it could to generate sufficient business from the island of Ireland to keep tourism businesses afloat. John says, “Much of our focus last year was on demand generation. The additional resources made available to us by the Executive to deliver the recovery plan allowed us to run a number of very successful marketing campaigns and support businesses to do their own marketing and sales to capitalise on that work.”

Over the autumn Tourism Ireland ran a similar campaign in the GB market aimed at consumers in regions with direct air and sea links to Northern Ireland. This has helped grow visitor numbers in what might be seen as a silver lining following the cloud which has hung over the sector for almost two years now. John says those efforts will leave a lasting legacy. “There is absolutely no doubt that we saw a rise in visitors from those markets. We track visitor spend, and with access to credit card data, we knew how people were using cards and where they were coming from. “There was an increase of over 150% in spend from the ROI market. We ran a huge campaign in the summer of 2020 which saw twice as many people visit, and then in 2021 visitor numbers rose again by a further 50% on the 2019 figures. Over the summer one in every four short breaks taken by ROI visitors were to Northern Ireland. “Positive word of mouth also boosted those visitor figures and I do believe there

Shoots of 62

FEATURE

Recovery 63

FEATURE

will be a lasting benefit from that. That being said, we need to be mindful that next year it would be unreasonable to expect the same levels of business from the local market. With people having been virtually locked in on the island for the past two years, they’ll want to get away next summer,” he adds. John believes that the tourism ecosystem will require continued support into next year while visitor numbers from the international markets recover. Visitors from overseas had been growing significantly pre pandemic. In Northern Ireland there were over 5.3 million trips made in 2019, three million of which were from overseas tourists. “Prior to the pandemic, those figures were projected to increase significantly in 2020,” John reveals “but I don’t think we’ll see anything like that again until 2024 or 2025.” The upward trend has begun already, he says positively. “The appetite to travel has returned and that’s great to see. Our own experience has been positive since the American routes opened. We saw a significant uplift in US visitors, especially those coming to golf. Up to now, the trends are positive.” He praises the collective work between Tourism NI and Tourism Ireland to entice more travellers to Ireland, with a “huge 2022 campaign” on the cards. “The Irish Government has recently increased their contribution to the Tourism Ireland budgets by over €30million. Whilst this is aimed at increasing visitors to the Republic, we will feel the benefit as many will visit both sides of the border.” Indeed the Irish Government has recently announced a separate fund of €90million to

support the recovery of the aviation sector and to rebuild air routes into the South. Given that most of Northern Ireland’s US and European visitors arrive via the Republic of Ireland, that will help too. A real team approach between agencies and the industry locally is also essential, John says, for a Northern Ireland rebound. “Every tourism destination on the planet has lost its tourism business and everyone will be fighting to recover over the next three to four years. Whilst opportunities exist, we are in a more competitive environment than ever before so it’s important to invest in marketing, develop the capability of businesses to secure sales in the international marketplace and we need our visitor attractions and hoteliers to help to secure business alongside us. “We are all part of the ecosystem and we all have a part to play in building the industry back.” Part of this ecosystem is the newly launched Ambassador Circle which will bring together business and academic leaders in advanced manufacturing, technology, life and health sciences, food and drink and financial, professional and business services to help identify, target and attract key business events and conferences to Northern Ireland. It is a joint initiative between Tourism NI, Invest Northern Ireland, Visit Belfast and Visit Derry. International meetings and events play a huge role in tourism here, often acting as a lead-in for business delegates to embark on leisure trips here, but also, while here, those delegates contribute massively to the tourism spend, generating mid-week, year-round demand for our venues, hotels and more.

“The appetite to travel has returned and that’s great to see. Our own experience has been positive since the American routes opened. We saw a significant uplift in US visitors, especially those coming to golf. Up to now, the trends are positive.” 64

They also put NI’s skills and innovation on the world stage, selling Northern Ireland as a place to work, live, study and invest. “International research commissioned by Tourism NI indicates that the number one factor in attracting a conference or a meeting to a destination is its international reputation for expertise in that sector,” John continues. He says around 85% of business events coming to Belfast do so because of the work of an ambassador. “I am confident that by working closely in collaboration with The Ambassador Circle, and playing to our undoubted strengths in Northern Ireland, we can harness the support of Northern Ireland’s business, education and research talent to attract even more national and international business events to the region, boosting visitor numbers and spend, and supporting the long term recovery of our tourism industry.” John says there is still much untapped potential in Northern Ireland. Add to that additional new attractions and maybe Northern Ireland is a step ahead of the rest? At a recent six month recovery update, he said the future was positive for the sector thanks to a number of significant new tourism projects including those under the City and Growth Deals, such as the Mourne Mountain Gateway Project, the Derry North Atlantic Museum, The Gobbins Phase II, Hillsborough Village and the Belfast Destination Hub. Also due to open on 5 February, after a postponement forced by COVID, is the £24m Game of Thrones Studio Tour in Banbridge. Its launch was held off until the return of the international tourist who will enjoy the world’s only Game of Thrones Studio Tour. Activity around marketing NI is buoyant too, with the return of World Travel Market in London late last year seeing tourism professionals promote NI. Meanwhile, a new ROI market strategy has set a revenue target of £193million, 10% of the value of all trips made by Republic of Ireland residents on the island, by 2026. John adds: “I’m cautiously optimistic. There is opportunity out there and we are well placed to grasp it. We haven’t lost any of our core strengths – all of our big tourism providers have survived – our product offering has strengthened, US consumers are now travelling again and that can only bring more US visitors. “After what has been a very challenging period the announcement that the Open will be returning in 2025 is also a great vote of confidence in Northern Ireland. This is something to truly look forward to and we will be working closely with the tourism industry to maximise the benefits it will bring across Northern Ireland.”

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FEATURE

c Executive is in a niche recruitment sphere. It’s the headhunter for leaders in businesses here across the private, public and third sectors. It has placed high profile executives at the helm of flourishing IT organisations and global financial firms. It has also sourced executives for roles in the South, GB and as far afield as China and the pandemic failed to slow down its momentum. “Quiet is not something we are familiar with,” MD Gordon Carson begins. “And now, more than ever, we are busy with lots of candidates looking to start the new year in a new role, while businesses are putting roles to market so there’s a lot of work to be done.” Besides a “brief pause” at the beginning of the pandemic, while the world tried to understand COVID-19 and its impact, it was business as usual for 4c and more. “There has been a lot of activity during the pandemic,” Gordon continues. “Many organisations have looked at their business in detail over the period and they’re evaluating what they have, looking at their management’s bench strengths and understanding what they need alongside dealing with all the traditional challenges that COVID has thrown at them. In many cases the pandemic has allowed businesses to identify skills gaps. “Then there are businesses who have noted personnel who perhaps haven’t stepped up to the mark during the pandemic and they are seeking to increase internal strength by bringing on a new executive. “Another area that is influencing our specific executive search market is succession planning, where businesses are looking ahead, generating a need for senior executives and working out who is coming behind and if they currently have the right people on the team to step up to those key roles when needed.” On the other side of the coin, Gordon says activity among executives has been disrupted by the pandemic, with more leaders leaving their careers earlier than anticipated, while others have reviewed how their current employer aligns with their own principles.

“I think many people are thinking there is more to life and the past 20 months have brought that to the fore. We’re seeing early retirement, job changes and more, and that’s created opportunity for us. “There have been very few people unaffected by the pandemic and that has created self-reflection.” Gordon says how companies managed the recession could prompt a higher retention in teams, while other firms may have lost leaders to self-employment, career changes and more. As a result of the latter movement, Gordon says today businesses are operating in a candidate’s market. He adds: “The pool is tightening and candidates are being a lot more discerning in their choice of employers.” 4c has been responding to the latter activity by pairing executives with businesses. It has a host of recognised names on its books, from those with ‘local knowledge and a global reach’ to soughtafter individuals. “We’re very proud to work with many of the leading organisations in Northern Ireland and have done for the last eight years and we have vast numbers of senior executives contacts that we keep in touch with.” He goes on to explain the 4c process: “When a client has an opportunity for a new role at a senior level, we will get them to really understand that role and the type of the individual they’re looking for. “We get to understand the culture of the organisation and the type of executive who is the right fit for that culture. There can be lots of fantastic executives out there but not all are right for every organisation and one of our key roles is to understand what is that fit to determine success.” 4c works with a segment of the market that Gordon refers to as “inactive” – the happy and settled executives who have no intentions of moving but can be sold a new position. “It’s a bespoke search that we do for each client. That is the differentiator between us and traditional recruitment. We are spending our time talking to individuals who are not necessarily looking for a move until we approach them.

“Twenty-five percent of the market is out there actively seeking a new role while a further 25% are passively seeking, keeping an eye out for the right opportunity. The difference between us and other agencies is that we spend the majority of our time on the remaining 50% – the inactive market. “And it’s that process that takes time.” The most buoyant markets for the team today are businesses with a sustained demand throughout the pandemic; from IT and software to food manufacturing and logistics. Such has been the demand for senior level roles that 4c has expanded, recruiting for its own business after launching a subsidiary recruitment arm under the name 7twenty Professional Search. “We’ve brought on that additional resource and expanded our own team in response to demand for these services in all sectors. 7twenty Professional Search is a wholly owned division of 4c Executive and it reaches out to individuals just below the executive level,” Gordon continues. “One of the first things we find when we secure roles for executives is they look around them when they enter a business and ask if the structure is fit for purpose and fit for future growth and that inevitably leads to a demand for further roles at that level reporting into the Executive level. We found that our clients were always asking us if we could fill those positions. They trust 4c and it made sense then for us to extend our service offering and branch out. “7twenty is a slightly different delivery model to 4c, a more streamlined version of the executive search process with a different fee structure, but it has all the same principles as 4c in that we reach out to that inactive market.” Reflecting on the year, Gordon adds: “We’re delighted to say we’ve been exceptionally busy. We’re planning significant further growth and look forward to the year ahead.”

“We’re very proud to work with many of the leading organisations in Northern Ireland and have done for the last eight years and we have vast numbers of senior executives contacts that we keep in touch with.” 66

FEATURE

Minding the Skills Gap Headhunting firm, 4c Executive, has been busier than ever during the pandemic as leaders in business reflected on their current roles while businesses assessed their personnel needs in the midst of a crisis. Here Managing Director, Gordon Carson talks about the art of finding the perfect candidate for the top job. 67

Columnist Michael Jennings Partner , BDO Northern Ireland

The Importance of Cash Flow During the autumn of 2021, the introduction of the high street voucher and relaxed restrictions within hospitality and leisure venues gave rise to a boost in economic activity. At the time of writing, it is reported that Northern Ireland’s economy grew by an estimated 1.08% with further analysis suggesting that NI had the best post-lockdown bounce-back of any UK region (source BBC news). An additional report from one of our local banks also indicated that retail sales in Northern Ireland had risen for the first time in four months and that employment levels also continued to grow.

• Avoids surprises that can cause unrest and concern in teams Late creditor payments and restrictions on trading caused by cash flow issues are demotivational to staff members and can cause concerns over job security. • Frees up management time While this sounds counter-intuitive, being able to anticipate cash requirements and knowing working capital is under control frees up management to focus on growth and operational matters.

• Can reduce the cost of funding Being able to demonstrate sound financial management can de-risk a position for a lender, allowing them to be more flexible when pricing facilities.

owever, as we enter 2022, we do so with the hangover of the last two years which has made planning for the future extremely challenging. Nevertheless, underpinning any future business plans will be cash flow and ensuring your business has the funding to achieve its profit and value generation objectives. As the NI economy adapts to a post COVID-19 world, if such a thing ever exists, the trading landscape has its own challenges:

• Enables investment As with lenders, accurate and efficient cash management demonstrates to investors that any investment will be in good hands. Cash forecasting is not just about best practice in a business-as-usual situation. At the more distressed end, careful cash flow management can make the difference between existence and insolvency.

• The eased restrictions we have all come to enjoy remains fragile with the new Omicron variant and generally rising Covid cases. It seems unlikely that any widespread financial support measures of the type we have seen over the last 18 months will be extended further, or reintroduced.

What should businesses be doing now? At BDO NI, we recommend that businesses use this time to evaluate their current cash flow forecasting processes to ensure they are still relevant and fit for purpose. In recent weeks, we have seen an increase in this area with a number of clients reaching out to us to assist them in preparing meaningful cash flow forecasts for their businesses. • A good cash flow should: • Be simple to update and read • Be of a sufficient period to cover a working capital cycle • Include an explanatory narrative on what the forecast is showing, suggested actions and key risks or uncertainties • Be built on clear assumptions with capacity to easily amend and test scenarios • Include references to source material, such as aged creditor reports, historical KPIs, and sales targets. This would ideally be linked directly to the dealer management system • Clearly show the level of headroom management have available.

• The ending of Government support measures brought a hefty dose of reality to many businesses who were reliant on them for survival. What the impact may be on employment and disposable income remains uncertain but inflationary pressures are increasing. • Recent studies suggest that consumer demand for goods is declining, with a preference of spending on experiences. This may help suppress the current inflation rates seen in recent months. All these issues make careful working capital management and the creation of contingency plans essential if businesses across all sectors are to avoid unexpected run-on cash resources. Finance savvy businesses will have carefully preserved cash during the past 12 months, having taken advantage of one or more Government support schemes. The challenge now is to ensure that future cash flows are available to fund the payment of any additional debt, or debt deferrals, taken on.

The forecast will be used by management to ensure the business has sufficient liquidity, but also to identify where improvements to liquidity can be made and act as an early warning where standards may be slipping. Underpinning the numbers should be a practical set of procedures that optimises positive cash flow. A good cash-flow forecast is primarily an essential tool for management use but when designed and communicated well, it will also be capable of suitable for sharing with external shareholders and all key stakeholders.

Cash flow management In our experience, the management and forecasting quality of cash flow varies enormously. For some cashflow forecasting is in the ‘too hard to get right’ box and therefore no forecast is prepared. On the flip side, there are those who can confidently predict, almost to the pound, the immediate short-term cash requirements. One thing that is clear, is that management of cash should be a core part of managements’ efforts in all businesses.

If you would like to talk to Michael and his team about the future of your business, repayment structures of any CovidCOVID-19 financial assistance or what effective cashflow management means for you, talk to us. You can contact Michael via Michael.jennings@bdoni.com or 02890439009.

Benefits of reliable cash management Knowing your current and anticipated cash position: • Provides Confidence This allows management to make spending decisions to take advantage of opportunities in the knowledge that cash resources are available.

Paul Martin and Jeremy Poots.

FEATURE

Mammoth has a reputation for delivery across the entire media landscape, to drive business growth for clients in a rapidly changing world. They bring a host of different talents and disciplines to provide a creative engine that gives life to great ideas. Jeremy Poots, Managing Partner, comments: “Organisations often come to us to redefine their ’story’ and their position in their marketplace. Often, they have outperformed growth expectations and their image, messaging and marketing need a complete re-calibration, ready to embrace a world of data, social and digitally-focused content campaigns. We tend to work closely with the board and senior stakeholders to understand the growth plans and ambitions

Strategically Creative

so that we can capture this essence in their brand story and campaigns. And there are a surprising amount of large corporates who have flourished during COVID who have approached Mammoth with this brief – including new clients such as MGM in America and global energy consultancy Wood Plc.

Ambition speaks to NI founded creative and advertising agency Mammoth who have recently joined NI Chamber.

“The last 18 months have been a challenge for all, not only in terms of remote working and doing what we can to stop the spread of COVID-19, but also the shift in our approach to market needs in

he new marketing era is complex, fastpaced, driven by data intelligence and always on in a digital world.

It’s becoming harder and harder for

organisations to connect their brand with strength and consistency across multiple audiences, touch-points and outputs using multiple specialist agencies. The inconsistencies, inefficiencies and extra costs

terms of creativity and innovation”.

“Organisations often come to us to redefine their ’story’ and their position in their marketplace”

Joint Managing Partner, Paul Martin, adds: “Many brands need deeper creative strategies to bolster their voice. However, after COVID, it’s not enough to have strong external campaigns. The talent crunch has seen a massive increase on having strong employer brand messaging to attract and retain staff. In the past, “marketing towards current & prospective employees” would have been

that occur build the case for a new business

afforded 3-5% of marcoms spend – now it is

approach to a marketplace that is not defined

more like 30% or above – a dramatic swing.”

by geography, but by connection.

Mammoth has grown to over eighty people

Mammoth’s growing client list includes

across their Belfast, London and Dublin bases.

global brands including Bet MGM, ICON

their willingness and ability to adapt to

Their reputation in delivering strategic brand

and Wood. In Europe, they have several

customer needs in this more demanding

programmes for a diverse set of international

pan-European food promotion campaigns.

digitally driven environment. One such

clients – backed with a full service agency

In Britain, they have substantial contracts

marketing agency embracing this is

service model including media, content,

with large universities. And closer to home,

Mammoth. Founded over 20 years ago by

social, performance & digital – makes their

Mammoth partner with Tourism NI, Devenish

joint partners Jeremy Poots and Paul Martin,

proposition unique.

and Visit Belfast on a range of campaigns.

The key to success is for brands to show

Columnist Dr Scott King CENG, Director, Pinnacle Growth Group

Business Growth and Shaping Your Journey When you get time for reflection, which let’s be honest has been challenging across 2021, do you ever look externally and feel that other businesses appear to achieve more, move faster, or seem to know exactly what they need to do and when?

transformation project. Although you might then ask; why would you transform if things are going well? I think the most stressful and difficult time to consider initiating a transformation is when things aren’t going well in the business. Let’s be honest: when a business is struggling it’s going to be under a significant amount of additional stress and the motivation levels of staff within the business may not be high. I’m not saying that you shouldn’t initiate a transformation during this period, but rather it’s important to recognise that it’s going to be tougher.

ithin your business, have you wondered if there is a set process a business can implement and follow that can help guide and shape a transformation journey that ultimately moves the business forward, supports its development and its successes? Business transformation is a subject which many people have been asking Pinnacle Growth Group for support with over the past 12 months.

So, you made the decision to initiate a transformation project. Next step: how do you do it? Each transformation is unique. However, I believe there are three keys factors needed for success: • Having the support of people who have successfully completed a transformation can significantly increase your likelihood of success. • Your team are key stakeholders: if they aren’t on board and involved in planning the transformation, they won’t buy in and the success of the transformation will be impacted. • You need to accept that in order to make a successful transformation, you will need to allocate appropriate time and resources (which may be limited).

So, what is it? The Harvard Business Review informs us that: Business transformation involves making fundamental changes in how business is conducted. For Pinnacle Growth Group, business transformation involves the structured (and planned) change, improvement, evolution and/or the replacement of processes, people, training, systems, technology, marketing and brand perception. This will ultimately lead to business improvements in the form of, for example, increased efficiencies, sales, workforce skills, customer satisfaction, brand improvement, stakeholder approval and profits. We firmly believe that any business can successfully complete a transformation project to support their growth. Whether you’re a £50k or £50m turnover business you’ll perform – at a high level – the same type of change activities. The key differences will be the scale of transformation undertaken, the time frame needed, the resources required, and the magnitude of the transformation attempted. Remember: although your company might have a small turnover and limited resources compared to others, that doesn’t mean you can’t complete a successful transformation project.

So, to summarise: • Business transformation can be undertaken by businesses of any scale at any time, however, its always easier when the business is in a positive position. • Transforming a business is a challenge. It takes time – potentially months and longer depending on the scale of transformation – and a lot of hard work and commitment. • Thinking you can successfully achieve a transformation without time, effort and commitment is a sure-fire way of setting yourself up for failure. However, if you follow a process and have the support of people with the appropriate skills, knowledge and experience, you can successfully transform your business and ensure success for years to come. Business transformation is only one of the areas where Pinnacle Growth Group can add value to your business. We can also: • identify funding opportunities to assist your business transformation • assist with business planning and strategies for future growth • assist with accessing new markets, growing sales and client profitability.

So, when is the right time to kick off a transformation project? This is a very important question to consider. After all, should you kick off when your business is: • going well, and you have a positive momentum and sufficient resources, or • during a business plateau when your business is neither growing nor reducing, or • when things aren’t going well, and you need the transformation to recover your business?

If you want to discuss any of your questions with one of the Pinnacle Growth Group team, contact Scott at: scott.king@pinnaclegrowth.group or judith.neill@pinnaclegrowth.group.

When things are going well in a business and confidence is high, this is when they are most positive about initiating a

MAKE TIME FOR GREAT DESIGN name a few. For many companies, going digital was the only way to stay in business and I believe these digital-led experiences will continue to grow in popularity once the coronavirus is supressed. That’s why design companies like ours are helping companies plan the ways they use data and technology to deliver value and a superb online experience to existing customers and broaden their reach to new audiences. If we accept that digital will continue to be part of the new normal, then it’s imperative that your digital experience invokes a lasting emotional connection with your customers. This is achieved through ‘emotional motivators’ that connect with your customers’ values and aspirations, such as the desire to “stand out from the crowd,” and “have confidence in the future.” And how do you make this connection? Through great design, of course in the images you use, the tone of voice you adopt and the experience you deliver.

Designers are creative problem solvers. It’s in their nature to devise innovative solutions to complex dilemmas. Here Chiho Tang of Oranga Creative in Belfast examines the role that design can play in helping Northern Ireland’s business community tackle the challenges and opportunities posed by both the Coronavirus crisis and our move forward into economic growth. As Chiho explains, now more than ever business owners need to think creatively… and digitally.

All change on the creative front I’m sorry to break this to you but your photo library is now largely redundant - at least for the time being. Photographs of people embracing, shaking hands or mixing socially do not reflect the reality of things right now. Instead, mask-wearing and social distancing have become a permanent fixture of our daily lives and although images that reflect these behaviours may still seem a little strange, they are a more accurate snapshot of how we’re living right now. This means your corporate imagery should be aligned with current trends, rather than previous norms. Let’s consider sports brands, for example. Traditional imagery might show teams playing

When times are tough, people are scared and businesses are uncertain of the way ahead, there’s a tendency to batten down the marketing hatches and curtail most promotional activity. This was certainly a logical response to the cataclysmic turn of events that prevailed with the outbreak of the pandemic, when the economy closed literally overnight. Things have radically changed and now, as Northern Ireland moves forward into a new post-pandemic and post-Brexit realm, it’s time to rethink our old design paradigms. As designers and clients, we both have a responsibility to rebuild people’s confidence and influence the way audiences act in this new environment of virtual meetings and hatch-door coffee shops. Go digital…or else Designers can change businesses for the better. We bring unique skills and ways of thinking that can help business owners and managers understand their customers and tailor products and services for them. Since the Covid-19 pandemic most customers’ normal patterns of life have come to a halt and we’ve seen massive growth in online shopping, business meetings, food delivery, telemedicine, remote education and online entertainment, to

together, with large group of fans and supporters cheering from the side lines. But with games being played without live audiences, this is no longer the norm. Instead, through several lockdowns sport has gained new meaning as a healthy, daily habit. Sports brands that position their imagery to reflect this trend are going to win the game. Social and eco concerns matter Businesses have long expressed concerns for the state of society through their Corporate Social Responsibility (CSR) statements. Likewise, many have adopted Green Policies that voice their interest in the planet’s health. But there has been a marked shift in tone over the last year. Business are feeling the heat, especially on climate change, and it’s no longer enough to pay lip service to these issues savvy customers see right through this. Design will play a key role in showing that your business is not merely driven by commercial needs, but is serious about by social impact, and in creating a better world and planet for people. This will only work if your designers are informed and aligned with your corporate strategy on social and environmental issues and are included in the formal design and rollout of your CSR processes. Revitalise company performance Above all, companies of every size, in every sector, need to emerge competitively from the Covid-19 crisis and should look to design. Designers will invigorate their recovery by devising with novel solutions, creating improvement and developing new experiences. Designers will help companies start thinking about a future that reaches into the ‘new normal’, and beyond.

Columnist Neil McLeese Managing Director, BeyondHR

The Future of Work – 5 HR Trends for the 2022 workplace Neil McLeese, Managing Director at BeyondHR, a leading HR services provider with offices in Ballymena, Glasgow and Manchester, shares the 5 HR Trends to look out for in 2022 and offers his professional opinion on what to expect and how to adapt.

flexibility. This has initiated conversations about the four-day week, a debate that will continue to grab headlines throughout 2022, with many firms introducing this to attract top talent. It is important that firms contingency plan how they might manage multiple flexible working requests and the feasibility of adapting to a four-day week. Regarding absence management procedures, we have already seen a recent change in statutory sick pay certification processes. Employees across the UK can now self-certify sickness for 28 days instead of the previous 7 days until January 2023. This means companies are unable to ask employees for medical proof of sickness until after 28 days. Effective absence management can lower absenteeism however, businesses will need to take a balanced approach to this due to the ongoing war for talent in recruitment.

• Artificial intelligence Digital transformation will continue to storm the HR industry with many firms automating administrative tasks, enabling HR departments to focus on strategy and its people. To attract and retain the top talent, firms need to redefine their workplace landscape. Workers are demanding change and are holding employers accountable. This means firms need to be transparent - clearly defining inclusivity, diversity, and equality strategies and implementing these across the workplace. AI will have a massive role in enabling firms to deliver this through online workshops, information hubs, and online development programmes. Technology is also critical to keeping teams connected, organisations need to agree which channels they use for different types of communication, even the more informal platforms, where teams can chat like they would in the office. For many companies, offering remote support has become a permanent solution however HR departments will need to develop more specific longterm solutions, such as scheduling regular meetings, providing mental health training and resources, promoting a healthy worklife balance, encouraging regular exercise, embedding employee wellbeing into meetings and catch-ups, and when possible, plan in-person meetings/events.

• HR collaboration HR departments can improve internal processes more effectively through collaboration with other sectors of the business. For instance, IT departments can provide quicker and more securer methods of gathering and storing essential employee information as well as making it simpler for employees to manage their sickness absences and holiday requests. Furthermore, IT departments may have improved methods for completing work through online platforms, helping to decrease the workload of employees. This may result in a better working environment and reducing stress levels. Collaboration with finance can help with budgeting for new updated platforms for workload management, as well as, helping to develop a strategy for financial wellbeing policy for employees. HR departments can hold training and guidance for employees for managing their work and personal budgets. This is becoming more and more relevant with the increased costs from Brexit.

• The Great Resignation continues… The great resignation continues in 2022, calling for greater company benefits and an increased need for transparency. 2021 has seen more people than ever changing careers, causing a massive shift in the recruitment market and a sudden skills shortage. With talented employees being in high demand, firms need to redesign their strategies if they hope to attract employees. Company culture will continue to play a big role in the recruitment process, including how firms manage employee wellbeing.

• Increased focus on mental health support Employees are less likely to stay within stressful environments due to the impact on their mental health and wellbeing, meaning that mental health is now a ‘must-have’ benefit for employers. Many companies have moved from the traditional officebased model of working to remote or hybrid working. We know that a lack of face-to-face supervision, access to information, and increased social isolation can impact an employee’s level of engagement and mental health. Therefore, it is paramount that firms monitor employees’ wellbeing, offering continued support and regularly checking in with workers. Working from home can lead to a loss of connection so introduce some virtual team building...

• Increased flexibility and increasing absences Flexible working will continue to gain traction in 2022. With the pandemic forcing many people to stay at home, employees became ultra-productive, using the extra time afforded by remote working to embark on new activities. As life returns to normal, many don’t want to give that up and as the recruitment race continues, employees have more leverage than ever and are demanding more

NEWS

EE TO UPGRADE 4G IN MORE THAN 150 RURAL LOCATIONS ACROSS NI BY 2024 EE is to upgrade 4G coverage in more than 150 rural locations across Northern Ireland by June 2024 as part of the Shared Rural Network (SRN) programme.

he Shared Rural Network – an agreement between the UK’s four mobile network operators and the UK Government – aims to extend 4G coverage to 95% of the UK’s geography by 2025. The upgrades announced are part of the first phase of the SRN programme, where EE will invest to significantly reduce ‘partial notspots’ in mobile coverage. EE has already upgraded its 4G network in 42 rural locations across Northern Ireland since the SRN deal was signed in March 2020. Now EE has pledged to extend 4G in a further 125 locations in Northern Ireland, bringing the total to 167 in this phase of the programme. All sites have been made available for other operators to share under the SRN scheme. The 125 rural locations that will get 4G upgrades between now and June 2024 are spread across Northern Ireland, including: • 31 locations in Down • 29 locations in Antrim • 15 in Tyrone • 14 locations in Derry • 12 locations in Armagh • 6 locations in Fermanagh

Ulster Farmers’ Union (UFU) Deputy President David Brown said: “This progress on the Shared Rural Network is good news that will be well received by our members. We’ve long called for improvements to 4G coverage in rural areas and these 4G upgrades will be vital for farming businesses and rural communities across Northern Ireland. “Our industry is continuing to adopt new digital technologies to help improve farm efficiency and productivity, with many application processes moving online. Having access to fast and reliable connectivity is going to be an essential part of farming’s future and it’s vital that farmers can gain online access without any difficulty.” UK Government Digital Infrastructure Minister Julia Lopez said: “We know the incredible impact better connectivity will have on countryside communities. That’s why we struck a £1 billion deal, jointly funded by the government and mobile firms, to bring fast and reliable 4G mobile coverage to 95%of the UK. “EE’s plans show good progress and will increase choice for consumers and boost productivity in rural areas. We will continue to

work closely with them to close down further gaps in rural mobile signal.” Philip Jansen, Chief Executive of BT Group, said: “We’ve made a renewed commitment to boost rural connectivity, helping improve mobile performance regardless of location. The investment BT has made in rural areas means we have the infrastructure in place to extend our 4G coverage footprint even further, minimising the number of new sites we need to build to ensure everyone has access to reliable connectivity. “EE is still the only provider of 4G coverage in many places across the UK, and we encourage other operators to recognise the opportunity sharing our sites offers to fill gaps in their networks.” Across the UK, 853 areas have already been upgraded since the SRN deal was signed – 42 in Northern Ireland, 449 in England, 265 in Scotland and 97 in Wales. Based on this announcement, EE has pledged to extend 4G in a further 1,532 locations across the UK by mid-2024 – 125 in Northern Ireland, 925 in England, 359 in Scotland and 123 in Wales – totalling 2,385.

NEWS

ULSTER RUGBY’S JUNIOR CUP SCORES SPONSORSHIP FROM MILLAR MCCALL WYLIE This is the 19th year the firm has supported Ulster Rugby, as part of its commitment to supporting sports from grass roots to elite level.

The Junior Cup is one of the most prestigious and competitive local rugby competitions. Although the format has changed through

Pictured Left-Right are Nathan Doak; Caroline Prunty; Grey Jones; John Andrew and Jan Cunningham. Belfast-based law firm, Millar McCall Wylie, has announced it will be once again renewing its sponsorship of Ulster Rugby’s most historic competition, the Junior Cup.

the years, the Junior Cup has been in existence since the 1888-89 season. The teams will battle it out for a place in the final which will take place next year at Kingspan Stadium. Jan Cunningham, partner at Millar McCall Wylie and former Ulster Rugby player, explained that the firm is proud to once again be backing the sport: “The Junior Cup is a wonderful competition and a great platform for club players to make a name for themselves. We are very proud to lend our support to developing the club game. “With the Junior Cup final being played at Kingspan Stadium, it is a fantastic opportunity for the finalists’ fans to see great club rugby taking place at the home of Ulster Rugby.” Jonny Petrie, Chief Executive of Ulster Rugby commented: “Millar McCall Wylie has been a brilliant supporter of Ulster Rugby and we are delighted with the long-term association with the firm. As well as being a valued sponsor, the firm also provided high quality legal services to Ulster Rugby over the last number of years.”

KILWAUGHTER MINERALS EXTENDS LEDCOM PARTNERSHIP WITH £90K CASH INJECTION Leading mineral processor, Kilwaughter Minerals, has extended its partnership with Local Economic Development Company (LEDCOM) Ltd. by pledging £90,000 over the next three years to continue its support and development of local businesses. Business enterprise LEDCOM, established in 1985, is committed to making a difference in Larne, Ballyclare and surrounding areas through economic and community development – an ethos echoed at Kilwaughter Minerals. Since 2017 the two organisations have enjoyed a successful relationship, and during that time Kilwaughter Minerals has provided a six-figure sum to support LEDCOM’s economic development work. This substantial further injection of cash will help facilitate LEDCOM’s strategic vision of generating long-term social and economic impact in the Mid and East Antrim Borough as well as the Ballyclare area within Antrim and Newtownabbey. Sharing his delight at the continuing relationship, Simon McDowell, Director at Kilwaughter Minerals said: “At Kilwaughter we want to connect with our local communities and champion economic growth where we can, as well as support the wider supply chain, and that is synonymous with LEDCOM’s purpose. “Over the past five years, it’s been fantastic to see the valuable advice and support given to numerous micro businesses, SMEs and entrepreneurs across the region, helping them in many areas close to our own journey with product development, business process, and innovation. “It is a pleasure to continue our partnership and we look forward to seeing how many more start-ups and small businesses can be boosted in the next three years.” Speaking of the current impact LEDCOM has within the region and its ambitions of supporting 500 businesses, creating 750 jobs, and helping 1500 people into employment, training, or further education by the end

Kilwaughter Minerals Director, Simon McDowell, pictured with LEDCOM Chairman, Dr Norman Apsley OBE and CEO, Ken Nelson MBE.

of 2022, Chairman Dr Norman Apsley OBE, said: “LEDCOM’s long-standing record of economic development in Northern Ireland is second to none. “We have continually adapted to changing circumstances, none more so than in the past 22 months, and we have consistently been at the forefront of enterprise, innovation, and business support. “Without the incredible support we receive from partners such as Kilwaughter Minerals much of that would not be possible and we are thrilled to drive forward in pursuit of our targets with them on board for the next three years. They really do make a difference.” In 2020/2021 alone, LEDCOM helped over 135 start-up companies, and more than 88 SMEs, to devise COVID-19 and Brexit response action plans and recirculated the significant sum of £276,745 into Northern Ireland’s social economy.

FEATURE

Greener Carpets from Ulster Sustainability continues to top the agenda for manufacturers but for Ulster Carpets this is not a new area to focus on.

s the first company in Northern Ireland and the first textile manufacturer in the UK to be awarded the Carbon Standard Award, Ulster have continued to build on their reputation as industry pioneers. They backed this up recently by achieving Silver in the 2021 Northern Ireland Environmental Benchmarking Survey organised by Business in the Community. “Sustainability is an ongoing process but one that we are very much committed to,” commented Beverley Copeland, Director, Organisation Development. “We have a dedicated group which focuses on sustainability and social responsibility that reviews current practices and implements new strategies to reduce our environmental impact.” Many of these strategies come from Ulster’s own highly experienced staff. “Our dedicated group includes people from across various departments and that gives us a full insight into the different needs of each aspect of the company. It Ulster Carpets mark their latest strategic move in sustainability by partnering with Power NI to procure is a collective approach and one that is 100% green electricity for their NI operations. From left are: Adam Stevenson, Procurement Manager, Ulster working well for us,” added Beverley. Carpets; Eddie Ruddell, Health, Safety and Environment Manager, Ulster Carpets; and Amy Bennington, With the general public becoming more Commercial Marketing Manager, Power NI. environmentally conscious, Ulster are contract from Power NI, Northern Ireland’s by over 950 tonnes per year – a key step in finding that residential customers are now moving to decarbonise our manufacturing leading energy provider. As a result, Ulster’s asking more questions about sustainability. operations.” manufacturing and warehouse facilities in The company’s involvement in the hospitality Power NI supplies around 40,000 businesses Portadown are now supplied with green sector across the world has also led to across NI, with over 150GWh of that electricity energy generated by local, renewable sources. increased focus on sustainability, particularly provided as green energy. Power NI’s parent Eddie Ruddell, Health, Safety and in the cruise ship sector. The fact that at least company, Energia Group, has invested over €1 Environment Manager at Ulster Carpets, 80% natural wool is in every Ulster Carpet is billion to date in the energy market across NI said: “We have always been a company with a good starting point, but the company have and ROI, focusing on their core segments of an ethos of sustainability. Founded in 1938, also worked hard to reduce the environmental the company has invested in key strategic renewables, flexible generation and customer impact created by the manufacturing process. innovations to maintain local jobs, create a solutions. One major change in this process came this premium product and export globally to some Amy Bennington, Commercial Marketing year with the switch to a new green energy of the most luxurious Manager at Power NI, added: “As Northern establishments in Ireland’s largest electricity supplier, and as . The Natural Choice range from Ulster hospitality. part of the Energia Group, we are committed Carpets is made from 100% wool. “As a manufacturer, to transforming how our customers use and we have a responsibility generate energy, in a way that has a positive to steward our people and sustainable impact on the environment. and planet well. Our We are delighted to supply Ulster Carpets with green energy which would be the equivalent latest strategic move of powering over 1,000 average homes in in sustainability has Northern Ireland for a year.” been to partner with The energy switch with Power NI is the Power NI to procure latest move in Ulster’s long-term commitment 100% green electricity to sustainability with more changes planned in for our NI operations. the near future. This commitment is forecast to reduce www.ulstercarpets.com our carbon footprint

JOB OPPORTUNITIES AT InterTradeIreland

OVER 45 YEARS OF EXPERIENCE

InterTradeIreland is currently recruiting for three Director positions to help shape the future of the organisation and help support SMEs in Ireland and Northern Ireland. Director of Trade We are looking for a Director to lead our Trade Team. Working closely with the CEO, as a member of the Senior Leadership team you will have responsibility for the development, delivery and scaling of InterTradeIreland’s trade strategy, supports and initiatives. Closing date: Monday 24th January, 5.00pm Director of Innovation and Entrepreneurship As Director of Innovation and Entrepreneurship you will lead our Innovation and Entrepreneurship team and will be a key member of the Senior Leadership Team. You will have responsibility for development, delivery and scaling of InterTradeIreland’s innovation and entrepreneurship supports and initiatives. Closing date: Monday 24th January, 5.00pm

AbbeyAutoline, Northern Ireland’s largest insurance broker*, has 15 branches across the country, all dedicated to helping their clients find their best insurance deals. With over 45 years of experience in the industry, AbbeyAutoline has a team of experts who are always on hand to ensure clients policies are tailored to their needs. Specialising in a number of business policies, AbbeyAutoline work with a wide network of insurers to make sure they do what they can to take the stress out of searching the market, saving you time and money. If you need to get in touch to talk through quote options and if you do need to make a claim, the committed teams will be there to offer you a reassuring helping hand.

Director of Strategy As a member of the Senior Leadership Team, you will be responsible for proposing and setting out the appropriate strategic direction and messaging of the organisation based on relevant all island economic information and intelligence/policy insights. Closing date: Monday 31st January, 5.00pm Come work for an organisation that values your input, encourages learning and development and has flexible working arrangements.

For more information visit www.abbeyautoline.co.uk or call 08000 66 55 44. *Verify claim at abbeyautoline.co.uk/verify

Apply at: www.intertradeireland.com/careers

AS THE NEW YEAR DAWNS, HERE’S HOW BUSINESSES CAN GET A HEAD START IN 2022 As we look forward to the New Year, change has certainly become our new norm. The past 18 months saw firms trying to survive and improvise – however now it’s important to invest in new skills to aid recovery and growth says Margaret Hearty, Chief Executive Officer of InterTradeIreland. The importance of ‘online’ The pandemic accelerated the shift to online and online sales grew exponentially. For business owners, this highlighted the importance of being ‘online’ and with this trend set to continue, it’s worth thinking how you can expand/improve your user experience.

Margaret Hearty, InterTradeIreland CEO.

Innovation is challenged Lately, firms have been removed from their colleagues and customer base, resulting in less opportunity for collaboration. Despite businesses struggling, some sectors have been resilient, including biotechnology, which is set to dominate the agenda in 2022. InterTradeIreland is committed to helping the ‘green economy’ through our Synergy programme which has funded collaborations with the Irish Bioeconomy Foundation. Additionally, we’re

funding cross-border R&D partnerships through our Innovation Boost support. Cross-border trade is vital In the last economic downturn, exporting proved a huge factor for driving recovery. Both North/ South economies hold a number of advantages for businesses and InterTradeIreland can help. In addition to post-Brexit advice, we can help firms gain the skills to win new business with the Trade Accelerator Voucher, Elevate and Acumen. Boost sales and funding Going forward your business strategy should reflect how you can increase sales and funding. There are a number of opportunities for companies in the island’s public procurement market and we can help SMEs win contacts through our Go-2-Tender programme. We can also assist with funding for growth opportunities through our Seedcorn Competition and Funding workshops. Looking forward 2022 will bring challenges and opportunities for firms across the island. For companies who wish to explore these, InterTradeIreland is here to help.

appointments

NEW

PPOINTMENTS IN THE BUSINESS COMMUNITY

AIMEE MOORE

JONNY GRAHAM

ORRY ROBINSON

TIRNA SWEENEY

Junior Consultant, JComms

Videographer, JComms

Senior Consultant, JComms

Junior Consultant, JComms

DAVE THOMPSON

AMBER SLOAN

DR KATRINA THOMPSON

ANDREW WIGGAM

Programme Director, Artemis Technologies

Marketing and Communications Executive, Artemis Technologies

Head of Research, Artemis Technologies

Head of Operations, Grand Opera House Belfast

appointments 78

appointments

KERI HEATLIE

KIERAN DALTON

KIRSTY NIXON

RICHARD WELSH

Account Manager, Reach

Head of Scaling, Catalyst

Customer and Financial Operations Support Co-Ordinator, The Electric Storage Company

Business Development Manager, The Electric Storage Company

CIARA JAMES

RICHELLA COTTRELL

SHAY MCGUINNESS

DONNA LOUGHRAN

Customer Relations Manager, Re-Gen Waste

Chemical Engineer, Re-Gen Waste

Lead Product Design Engineer, Bloc Labs - Bloc Group

Talent Acquisition Specialist, Bloc Group

appointments 79

appointments

CBRE NI PRIMED FOR FUTURE GROWTH WITH SIX NEW APPOINTMENTS Commercial real estate agency CBRE NI has announced the appointment of six new employees as well as a number of promotions following a period of significant growth and expansion. Martin O’Hara, Tighearnan O’Neill and Dara McPeake have joined the real estate firm’s Building Consultancy, General Agency and

Property and Facilities Management divisions respectively as graduate surveyors. Meanwhile, Michelle Stephenson, Bryony Cowell and Timothy Johnston have been appointed to the Property Management team in a range of business support roles.

INVEST NI ANNOUNCES MEL CHITTOCK AS INTERIM CHIEF EXECUTIVE

Pictured (L-R) is Martin O’Hara, Bryony Cowell, Brian Lavery (CBRE NI Managing Director), Dara McPeake, Michelle Stephenson and Tighearnan O’Neill.

ROB HERON APPOINTED MANAGING PARTNER FOR EY IN NORTHERN IRELAND EY has appointed Rob Heron as Managing Partner for Northern Ireland, effective 1 February 2022. Rob will succeed Michael Hall who will leave the firm this year to pursue a new role in industry. In this role, Rob will lead EY’s business in Northern Ireland, an integral part of the firm’s practice on the island of Ireland. EY employs more than 600 people in Northern Ireland, including 11 partners. Commenting on Rob’s appointment, EY Ireland Managing Partner Frank O’Keeffe said, “We are delighted that Rob will take on this role of leading our Northern Ireland practice. The fundamental changes brought about by the COVID-19 pandemic, coupled with wider macroeconomic uncertainty and changing business models means that our clients are relying on EY more than ever to help them solve their most complex business challenges. This is a time of great growth and opportunity as we continue to partner closely with our clients and grow our world class team in Belfast. I would also like to sincerely thank Michael Hall for his tireless leadership of our business in Northern Ireland over the past 12 years and wish him well for the future.” Rob currently leads a successful and fast-growing tax practice in EY’s Belfast office and is also Partner Lead for the EY Entrepreneur of the Year Programme in Northern Ireland. He is also EY’s Brexit Lead in Northern Ireland where he plays a crucial role in advising a broad range of clients on this issue. Commenting on his appointment, Rob said, “I am so pleased to be taking up this new role at such an exciting time for our business here in Northern Ireland. I consider it a real privilege to lead such a brilliant, passionate and successful team who deliver exceptional client service every day. I am looking forward to collaborating closely with our clients and our people as we power our business into the future.”

The Board of Invest Northern Ireland has announced the appointment of Mel Chittock, currently Executive Director, Finance & Operations, as interim Chief Executive with immediate effect. This follows Kevin Holland’s notification of his intention to step down from the role. Commenting on the appointment, Rose Mary Stalker, Chair of Invest NI, said: “On behalf of the Board, I would like to congratulate Mel on his appointment. We look forward to working with him, and the wider Executive Leadership team, in the coming months, as we undertake the process to recruit a permanent Chief Executive. “Mel is an experienced and strong leader with over 20 years’ experience in economic development who will lead the organisation through the current challenging economic environment. “During this period, he will help shape the organisation and maximise our efficiency and effectiveness to strategically align with, and operationally deliver the 10X Economic Vision and future economic realities.” Mr Chittock said: “It has been a challenging time, for businesses and the economy, particularly over the past two years. I hope to continue the good work that Kevin has done, and look forward to working with my colleagues in ELT, the Board, and the Department to ensure Invest NI’s capacity and capability is fit for future purpose. “We have already done so much to help businesses emerge from the recent challenges and to grasp new opportunities. I am confident we can continue to build on this and, through our continued support to businesses our partnership working, do even more to help grow the NI economy.”

Business Class Motoring

By James Stinson

18 Boucher Way, Belfast, BT12 6RE W. agnewleasing.com T. 028 9038 6600

Ambition January/February 2022

Articles inside

Jim Fitzpatrick

Dine & Wine - Chris Rees

NI Takes Lead in Full Fibre

Henderson Retail

Aoife McDowell

Greener Carpets from Ulster Carpets

Business Class Motoring James Stinson

Ulster Rugby’s Junior Cup Scores Sponsorship

CBRE NI Primed for Future Growth

EE Upgrade 4G

Neil McLeese

Dr Scott King CENG

Strategically Creative

Michael Jennings

Minding the Skills Gap

Shoots of Recovery

Jane Shaw

Succession Planning for the Future

John Campbell

An Eventful Task Ahead

New Opportunities

The Sustainable Force

Quarterly Economic Survey

NI Chamber In Conversation

Neil Logan – Wilson Nesbitt

Top Firms Celebrate Success in NI Chamber

Brexit: One Year On

CEO Update

Paul Mellon

My Ambition is to

Finyx Establishes NI Base

Stairway to Seven

Cause for Optimism

Kate Marshall

Manufacturing – NI’s Success Story

Bill Roy

Peter Russell