Minister encourages NI businesses to embrace innovation
Thursday, 1 October 2009Enterprise Minister Arlene Foster believes that every local business, regardless of size or sector, should be looking at how to work better and smarter.
The Minister was speaking at a BDO Stoy Hayward business breakfast today in Belfast, as she welcomed the launch of the company’s booklet ‘The Future Of Business Looks Like This’. Published in conjunction with the News Letter, it features a range of local companies and how each is successfully tackling the economic downturn.
The Minister said: “As I, and my Executive colleagues, continue to focus on providing much needed support for business during the economic downturn, I am always encouraged to learn about those companies that are facing the recession head-on, and winning.
“A common attribute displayed by the companies featured in ‘The Future Of Business Looks Like This’, is a commitment to innovation and R&D.
“The strongest businesses in any market have innovation and R&D at the centre of their operations. This is especially true during the current economic downturn. A commitment to developing new products and processes, or improving existing ones, can open up lucrative opportunities that may not otherwise have been available and provide a springboard for future growth, when the recovery comes.”
The Minister recognised however, that while work must continue to help companies in the short term, the longer term challenges must also be faced and overcome if we are to build a modern Northern Ireland economy.
Arlene Foster said: “We know only too well that not all companies are continuing to enjoy success at this difficult time and for those I have been able to take some important short-term steps. These include the introduction of the Invest Northern Ireland £15million Short-Term Aid Scheme, the £5million Accelerated Support Fund and the free diagnostic services and business seminars offered by Invest NI across Northern Ireland to both client and non-client companies.
“As we move forward and look to the future, it is vital that we also seek new ways of working to enable us to capture key niche markets and provide quality jobs.
“The contribution made by our business community to developing a culture of innovation in Northern Ireland is therefore very important. Every business, regardless of size or sector, can and should be looking at how to work better and smarter.
“I commend those organisations successfully steering their way through the recession and believe there are positive lessons that others can take from the success stories featured in this document.”
The Minister concluded: “Earlier this week I received the Independent Review of Economic Policy. Its publication comes as we not only face immediate economic challenges but also as we look to building success in the future. The report will help shape the debate on how we achieve the economic goals outlined in the Programme for Government.
“I will continue to do all that I can to help local companies during this challenging time to enable them to take advantage of the opportunities that will come with the upturn. I remain fully committed to working hard to build a stronger and more prosperous economy in Northern Ireland.”
Notes to Editors:
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