Economy Minister Welcomes 'Successful Year For NI Businesses'

Economy Minister Gordon Lyons has welcomed a successful year for Northern Ireland businesses in the face of continuing challenges, reflected in the calibre of the companies on this year’s Belfast Telegraph Top 100 list.

Minister Lyons said: "The companies that have made the Top 100 represent a diverse range of sectors for which Northern Ireland has a strong, and growing, reputation: financial services, IT, manufacturing, food and drink, engineering, construction and many more.

"We cannot deny the deep and wide-ranging impact that the pandemic had on the economy, both locally and globally.

"I and my predecessors in the Department provided some £600million of financial support to local companies – safeguarding business and protecting jobs. Local firms also demonstrated their resilience and innovation as they pivoted and responded to the challenges presented by Covid-19.

"Labour market figures are showing the highest number of payrolled employees ever on record in Northern Ireland, and we have seen more than 11 consecutive months of employee numbers being above pre-Covid levels. Meanwhile the NI Composite Economic Index for quarter 4 2021 showed economic output growing over the preceding two-year period.

"But major challenges lie ahead. Global turbulence is resulting in rapidly rising energy costs, the costs of raw materials are increasing on an almost daily basis and we are likely to see inflation continue to rise over the next 12 months."

The Minister's full statement can be read here.