• 88 per cent of firms across the island either stable or growing
• 47 per cent of firms in Ireland are expanding compared to 34 percent in Northern Ireland
• 56 per cent of firms involved in cross-border sales experiencing growth compared to 40 per cent of those with no export sales
• Small increase in employment levels this quarter with 11 per cent taking on staff
• Sales performance has declined from 39% to 32% with more exporters increasing sales
• 68 per cent of firms plan to invest in the next year

Almost 9 in 10 firms are either growing or stable, with the number of companies expanding rising from 37 per cent in the final quarter of last year to 43 per cent in Q1 2015. This general position of largely stable and growing businesses is replicated across all sectors, although the leisure and retail sectors continues to lag.

The number of business who have increased employment over the past year remains quite low at 11%, however there is a growing number of firms particularly, large and export focussed businesses who expect to increase employment in the next 12 months.

Firms' investment intentions reflect the mood of caution that generally surrounds the economy and again reflects the lack of a feel good factor. Marketing, IT and staff training are the areas which most firms with investment intentions plan to develop.

The generally positive economic picture is reflected in an ongoing decline in key challenges facing business.  The cost of overheads continues to be the leading challenge but it is being felt by only 14% of businesses compared with a high of 25% in Q1 2014. Energy costs which had been the biggest challenge facing business has declined in significance perhaps reflecting the reduction in fuel prices and the importance of transport costs.

Although still small it is worth noting the growing significance of the sterling/euro exchange rate as a challenge.

So all in all, to sum up the latest InterTradeIreland Business Monitor, results paint a picture of a business landscape across the island of Ireland that is positive and stable but lacking a feel good factor.