Small businesses must grab EU enlargement benefits

Small businesses in Northern Ireland need to grasp the opportunities that will be brought about by the enlargement of the European Union on May 1.

This was the message from Enterprise Minister Ian Pearson when he addressed a conference on EU Enlargement, held by the Federation of Small Businesses in Belfast today.

The conference, which was attended by approximately 140 people, aimed to provide information on doing business in the enlarged EU and to highlight networking opportunities for members of the Federation of Small Businesses and the small business community.

“From 1 May this year, the European Union will become a single market of over 450 million people, which is bigger than that of the USA and Japan combined," the Minister said.

"Northern Ireland needs to be an outward and forward-looking region. Its small businesses cannot afford to pass by the opportunities that enlargement of the European Union will bring."

Mr Pearson also called for the need to identify opportunities and challenges that enlargement will bring as well as maximizing the full benefit of EU membership.

“Enlargement will increase prosperity for Northern Ireland, the UK, the EU, and indeed for the new members themselves," Mr Pearson added. "A larger single market will provide opportunities to stimulate investment, boost profits and create employment opportunities.

“We cannot afford to ignore the opportunities that come with such changes and taking action to improve competitiveness and to develop exporting capabilities must be top priorities," he concluded.

(MB)