Video summary of findings by Aidan Gough, Director of Strategy & Policy, InterTradeIreland- 2 Mins - click on the link below.

Summary

• Over the last few quarters, businesses in Ireland were clearly outperforming Northern Ireland firms but figures from the Q2 report indicated more of a convergence between the two jurisdictions, with 40 per cent of firms in Ireland in growth mode compared to 36 per cent of businesses in Northern Ireland.  

• It was also found that growth firms are much more likely to have innovated across all areas of the business in the past three years. For example, three-quarters of moderate to rapid growth firms introduced new or improved products or services and 62% implemented new processes, machinery, equipment or tools.  

Aidan Gough, InterTradeIreland said: “This finding confirms results from other reports that we have carried out which show that businesses that are innovating and doing things differently are three times more likely to grow. Excellence in innovation processes, culture and skills is at the core of rapidly growing firms with these businesses more likely to have dedicated R&D staff and a more formal process in place for managing innovation than non-growth firms.”

The findings from the Q2 Business Monitor also show that:

• Size and market orientation matter more than sector or location; 53% of growth firms engage with cross-border trade, whilst 41% export outside Ireland and the UK.
• Skills and getting the right people are key characteristics of growth firms; 82% of the management team hold a third level qualification.
• Ambition and a culture that seeks out and encourages success is crucial with 82% having ambitions to grow in the immediate future and 71% have plans in place to invest in staff training.

Aidan concluded:  “53% of non growth firms share this ambition to grow but need the necessary support agencies, such as InterTradeIreland, to help them avail of cross border opportunities that will help them to overcome specific capability deficiencies in the areas the survey has identified and translate that ambition into a growth reality.”  

InterTradeIreland’s quarterly Business Monitor survey is the largest and most comprehensive business survey on the island and is based on the views of more than 750 business managers across Ireland and Northern Ireland. It differs from other surveys in that it is seen to be the ‘voice of local businesses’ feeding directly from telephone interviews conducted with a robust sample of firms of all sizes across a range of sectors to track all-island economic indicators such as sales, employment, business outlook and other specific topical research areas on a quarter by quarter basis.

For more information on InterTradeIreland and their business support programmes, please visit www.intertradeireland.com . 

A copy of the 2015 Q2 InterTradeIreland Business Monitor Executive Summary can be viewed at: www.intertradeireland.com/researchandpublications/business_monitor/

Registration now Open!


At the event companies can -

• Hear from public sector buyers, their procurement process, what they want from suppliers and upcoming opportunities
• Talk to public sector buyers at the buyers stands
• Hear and learn from other companies sharing their experience
• Get useful advice and tips from the experts
• Find out about the latest procurement news and trends – aggregation of contracts etc
• Network with other companies to form joint ventures and identify sub-contracting opportunities
• Find out about funding opportunities and supports available from the main development agencies across the island and how they can help your business access all island public sector opportunities
• Take away with you on the day a directory containing all the details of the attending buyers absolutely FREE!

Register now

For more information about buyers attending, networking opportunities and how to register, please visit InterTradeIreland website - http://www.intertradeireland.com/meet-the-buyer/

Here is a reminder of all the benefits your business could get for spending 30 minutes on the form. (enter the awards today) 

The application process itself is an opportunity to reflect on what your business is all about and clearly articulate your Unique Selling Points. It’s an opportunity to work on your business rather than in it by stepping back to look at achievements, challenges, market trends and areas for improvement.

Provincial finalists gain

• Exclusive rights to use the Ulster Bank Business Achievers Awards logo for promotion and marketing purposes
• On-going promotional opportunities as part of the Business Achievers’ Alumni that will greatly raise the profile of the company
• Benchmarking of progress and achievements against competitors and other sectors in the local business environment
• Networking opportunities with fellow entrepreneurs, business leaders, enterprise support agencies as well as local and national government agencies
• Tangible public acknowledgement for the effort of staff and recognition of their contribution in growing and developing the business

Provincial Winners receive

• Coverage by national media partners, The Belfast Telegraph and or The Irish Independent
• A specially commissioned company video that can be used on the company’s website and as part of marketing information
• A specially commissioned awards trophy

Overall winner receives

• A €50,000 advertising bursary with the Irish Independent
• Exclusive internationally recognised business mentoring from Enterprise Ireland
• A full service communications workshop for you and key staff given by leading PR, Marketing, Sales and Communications specialists
• A specially commissioned Ulster Bank Business Achievers Award trophy made exclusively for Award winners to provide a lasting recognition.

Enter your business in the Business Achievers Awards today and get your business the attention it deserves!

BUSINESS PLANNING - INTERTRADEIRELAND BUSINESS CUBE - PDF

The Business Cube is a simple and intuitive tool to aid in business planning. It outlines the key information components that investors look for when evaluating investment opportunities and is therefore a useful guide for ensuring that your business plan addresses those key issues in which potential investors will have greatest interest.

ENTREPRENEURIAL-SPARK.COM - GROWTH PLANNING - DEVELOP A GROWTH PLAN FOR YOUR BUSINESS

To avoid confusion it is useful to set context, think of the business plan as the grand strategy. All other plans are subordinate and the tactical ‘do’ elements that combined deliver against the overall plan. This article sets out the elements of a growth plan in bite size chunks.

MEASURE YOUR PR SUCCESS – FREE TEMPLATE DOWNLOAD FROM KANTAR

Much has been said and written about the complexity of tracking PR results, including many valuable tips and real-life examples. What do you need to measure? Understanding what you want to achieve is key. Then, you need to know what value you are getting from your media monitoring and social intelligence platforms: a simple Excel spreadsheet can do the job. If you are unfamiliar with reporting on PR results or just wish to save your time, get started with Kantar’s free PR success template!

Kantar offer 3 excel spreadsheet examples to best suit your business goals: boost sales, enhance awareness and increase market share. These are a few examples of many measurable objectives you may want to achieve with your communications.

HUBSPOT BLOGS - HOW TO BUILD AN UNBEATABLE CONTENT MARKETING PLAN

The first step to getting a leg up on the competition is to have a solid, smart content marketing plan in place. If you're having trouble planning for next year or need some fresh ideas to include in your plan, read on. FREE templates.

GET EXPORT READY – NORTH/SOUTH AND OFF ISLAND

Download the Export Start Guide by Enterprise Ireland, Invest NI and Chartered Accountants Ireland. The guide highlights the benefits of exporting and includes practical advice on selling internationally. 

Download InterTradeIreland's FREE Simple guide to cross border business.

Checkout InterTradeIreland’s other business supports to help you export North South- http://www.intertradeireland.com/salesgrowth/

CONSIDER GROWING YOUR BUSINESS THROUGH NEW CONTRACTS- TENDERING

Download the Successful tendering guide from Invest Northern Ireland whichprovides best practice practical guidance, combined with forms and checklists to help suppliers through the key stages in the tendering process, and to provide the confidence, skills and knowhow that businesses need to consistently produce winning bids.

Sign up for an InterTradeIreland Go-2-Tender 2 day workshop and brush up on your tender skills.

EXPLORE FUNDING OPTIONS FOR YOUR BUSINESS- FREE EVENTS

Attend one of InterTradeIreland’s free events. These workshops will provide an overview to attendees on the suitable sources of finance for growth and enable them the opportunity to engage with relevant finance providers.  The workshops will also enable signposting of businesses to suitable sources of finance and provide an opportunity for attendees to apply for the one to one advisory service facility if they meet the eligibility criteria that applies.

MEASURE PERFORMANCE AND SET METRICS -NIBUSINESSINFO.CO.UK

Once your business is established and financially secure, you need to think about how to grow or improve it. This guide sets out the business benefits of performance measurement and target-setting. It shows you how to choose which key performance indicators (KPIs) to measure and suggests examples in a number of key business areas. It also highlights the main points to bear in mind when setting targets for your business.