Dodds encourages local firms to focus on the future

Finance Minister, Nigel Dodds, emphasised the need for small and medium sized businesses to look beyond the short term and focus on the future to improve the local economy.

The Minister was speaking at the opening of the new premises of local accountancy firm, Baker Tilly Mooney Moore at Clarendon Dock, Belfast.

Mr Dodds praised companies such as Baker Tilly Mooney Moore who have had the confidence to expand and move to new premises despite the current economic problems and urged other local firms to also look beyond the short term. He said: “Local small and medium sized companies are the life blood of the local economy and provide much needed employment and services. Now is the time for them to be developing strategies for the future to ensure that they are ready when the upturn comes.

“It is very important to all businesses that there is help in the form of financial experts like Baker Tilly Mooney Moore who can help local firms in their struggles to survive and assist them in planning for the future.

The Minister concluded by highlighting some of the measures he and his Executive colleagues have been taking to help small firms stay in business and ride out the economic storm. Mr Dodds said: “The Executive is continuing to deliver for local firms in a number of ways. These include investing record levels of procurement spend; freezing regional rates; and setting a target of paying invoices within 10 days to help firms with their cash flow.

“I have also recently launched a new electronic tendering system to assist local businesses identify opportunities in public procurement and announced a Small Business Rate Relief Scheme to reduce the rates burden for our smaller businesses.

“I will continue to look at ways we can help the local economy through the recession and equip local businesses for the future”.

Notes to Editors:

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