29/07/2005

NI must become more enterprising to sustain economic growth

Northern Ireland can build on continuing economic growth by meeting the enterprise challenge of seizing and implementing new business opportunities.

That was the message from Enterprise Minister Angela Smith, who published the latest Quarterly Economic Review on Thursday. The review indicates a positive outlook for the Northern Ireland economy and examines the challenges in relation to enterprise and entrepreneurship, key drivers of productivity growth.

The Minister said: "The Northern Ireland economy continues to perform well against the backdrop of a continued global recovery. However there are a number of challenges that need to be addressed if we are to deliver the Northern Ireland Economic Vision.

"Our businesses must seize new business opportunities and implement them effectively, continually exploring new products and new markets.

"This review highlights evidence that suggests our small and medium sized businesses achieve stronger growth rates and are more likely to become involved in exporting than their GB counterparts. Would-be entrepreneurs should take heart from these figures and persevere with their ideas."

The review contains the latest statistics for the global, UK, Republic of Ireland and Northern Ireland economies and draws together a number of independent commentaries to provide a concise picture of the current economic climate.

The review can be accessed at www.detini.gov.uk, by emailing economics@detini.gov.uk or ringing 028 9052 9513.

(MB/KMcA)

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