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Northern Ireland's 'bread and butter' businesses can help power the local economy on the world stage says HM Homegrown -
"Ulster University released a list of the Top 50 Homegrown businesses yesterday at an event in Titanic sponsored by Harbinson Mulholland. 70 guests gathered together to celebrate the pivotal role that this sector of the business community makes to the local market. Over 5700 jobs are represented by this Top 50 and £170 million of wages. We have cultivated the Homegrown initiative as it encapsulates all we stand for as a firm. For over 20 years we have been at the roots of NI business, providing sound advice to help SMEs grow in all conditions.
As a homegrown practice ourselves, we are uniquely positioned to share the vision and culture of this sector. Congratulations to all those who have made it onto the list and let’s all pause for a moment and consider how much we are indebted to the entrepreneurial spirit that fuels these companies!"
Darren McDowell, Senior Partner
Government support for clusters of traditional Northern Ireland industries is needed to power the local economy on the world stage says HM Homegrown, a new campaign for local SMEs which launched today.
HM Homegrown celebrated the success of Northern Ireland’s small businesses, which make up over 99% of the local business sector, by recognising the Top 50 ‘bread and butter’ firms at an event at Titanic Belfast.
The league leaders were identified through research carried out by Ulster University Business School. The results confirmed that the entrepreneurial spirit is alive and well in Northern Ireland, which boasts more homegrown businesses per head of population than Wales, Scotland and all regions across the North of England.
Professor Mark Durkin, Executive Dean of Ulster University Business School commented,
“The economic impact of the 50 companies listed in the Harbinson Mulholland / UUBS Research is considerable generating as they do £1.6 billion in revenues and wages of almost £200m. These companies act as key enablers of Northern Ireland’s entrepreneurial ecosystem, an ecosystem that Ulster University Business School is proud to be part of.
The results of this research demonstrate that just because businesses are local in origin does not imply they are not global in ambition; that because they are from traditional sectors does not mean they are not modern in outlook. Indeed local homegrown businesses have a sense of place and origin that can really create competitive advantage.
Northern Ireland has demonstrated its ability to sell its agri-food, manufacturing and construction products and services overseas, but internationally successful companies tend not to emerge in isolation.”
Darren McDowell, Senior Partner of Harbinson Mullholland said that homegrown businesses were the backbone of the practice’s client base, adding:
“The Top 50 list underlines the vibrancy of this group of companies and the spending power they give to local communities through employment.
Attention is often focused on other sectors, but this research demonstrates the continued importance of traditional businesses and industries to the local economy and the extent to which they can be successful.
Although a diverse economy with successful businesses across many sectors is important, a small economy such as Northern Ireland cannot be world-class in every area, hence the need to focus on sectors where we do best.
With the outcome of Brexit still putting a question mark over how we do business in the future, it is more important than ever to play to our strengths and ensure that we support successful clusters in doing great business around the globe.”
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