EXPORT FOCUS
Going for growth Gavin Kennedy, the recently appointed Director of Business Banking NI for Bank of Ireland UK says it’s all about growing businesses.
B
ank of Ireland UK’s business is to ensure we play a leading role in supporting sustainable growth for Northern Ireland PLC. We are committed to the Northern Ireland market and we are investing for the long term on the back of our belief and confidence of the growth prospects here.
access to locally based experts. Bank of Ireland’s Foreign Exchange dealers and Trade Finance specialists work closely with customers to help identify and manage any trading exposure the business may be faced with. We combine our in-depth knowledge of our customer’s requirements and our experience to provide the right solution for local business.
There is a welcome increase in business activity in Northern Ireland building on the momentum evident in the second half of last year.
There are many industry initiatives and programmes available to support and encourage more local businesses to think outside Northern Ireland and seek a global reach. Bank of Ireland UK has developed strong business partnerships with industry bodies across Northern Ireland such as the CBI, NIFDA, Invest NI, NISP to name but a few and our partnership with the Northern Ireland Chamber of Commerce “Connecting for Growth programme” has a targeted focus on Cross Border and wider export opportunities.
At Bank of Ireland UK, we approved £600m in new business lending during 2014, a rise of 20% on the previous year and we are seeing continued strong momentum in 2015. This growth in demand is evident to various degrees across all sectors but particularly in agriculture /agri-food and from businesses of all sizes, from major corporate customers to start-ups. It is now about building on the emerging confidence and delivering on our sustainable growth ambitions. Whilst some sectors are offering significant growth potential as a whole e.g. agriculture and agri-food we believe there are growth companies and opportunities across all sectors. That is why we have invested in business managers and business advisers who can support businesses of all sizes in all sectors. Our expectation, which is in line with market opinion, is that those businesses continuing to invest in innovation and technology and an export focus will provide the greatest growth potential for NI PLC.
MAY 2015
Gavin Kennedy
Northern Ireland has seen export sales rise but from an even smaller number of businesses than previous years. From this low base we believe there is an opportunity for rapid expansion in external and export sales growth. Northern Ireland has such a rich heritage in innovation and a proud history of indigenous companies successfully competing on a global scale. Bank of Ireland UK’s experienced and locally-based experts have supported many of these world class businesses including Wrightbus, Lowe Refrigeration and First Derivatives in breaking into export markets. From this experience we see that it comes back to having the confidence and support to do it. Many of the Northern Ireland companies who enter new markets see their products are world class, service levels high and they are very successful. Taking the first steps can be daunting and understanding how to protect your business against the unique risks associated with international trade is vital. This is where the Bank can help. Our approach is based on people doing business with people, ensuring easy business
Through collaborating and aligning resources across key business stakeholders in Northern Ireland, Bank of Ireland UK feels there is a better chance of successfully delivering on the potential that exists. Our people are passionate about business; we want businesses to tell us their story and their growth plans at the earliest opportunity, so that we are in the best place to understand their strategy, support their growth ambitions and develop a close, long-term relationship with our customers. For me it is about engagement, working together and most importantly building confidence. By doing this Northern Ireland has a bright business future. #LetsConnectNI
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