BUSINESS IN FOCUS
Northern Ireland business - Reflecting for future growth?
There is great value in pausing to recognise the achievements of 2015.
region including the Northern Ireland composite economic index, employment levels, and rising residential House prices, signalling 2015 as another year of building growth momentum in Northern Ireland.
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Adding to the continued improvement are the increased confidence levels for both Business and Consumer segments of the market and the increase in Northern Ireland spending power driven by low inflation on essential items. The more broadly based improving economic signs are providing a more positive outlook for 2016.
Whilst the business environment continues to improve, continuous challenges remain. The Pharmacy sector is no different albeit the challenges can be more sector specific.
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pharmacyinfocus.co.uk
he overall macro economy has continued to improve with most economic indicators for the
Some of these include, the continued climate of pricing uncertainty and the impact of strategic changes recently announced by the Health Minister as part of the Transforming Your Care agenda.
The announcement demonstrates refocus of government on the Health sector and is the start of a period of ongoing change. There will be tough decisions re rationalisation but also opportunities as this moves forward.
The announcement of the five-year initiative of additional investment in 2016/17 of up to £2.6million, rising to £14million per year in 2020/21, to provide for pharmacists to work alongside GP’s to boost capacity in primary care has been broadly welcomed.
This presents opportunity where an investment in innovation and development of service, skills and confidence will be important
differentiators in an ever more competitive marketplace.
Looking towards 2016 many businesses are actively planning and investing for growth and at Bank of Ireland UK, we believe the businesses who continue to invest by regularly innovating products and services will be best positioned to take on the challenges and take advantage of growth opportunities, this will continue to be vital in achieving the sustainable growth required in the private sector in Northern Ireland.
We are focused on working with businesses, in understanding their challenges and ambitions for the future. We want to play our part in
building sustainable business growth across all sectors in Northern Ireland.
If you are considering investing for growth, maximising cash flow solutions and want to find out about funding options with Bank of Ireland UK please contact Mark Cunningham via email
MarkA.Cunningham@
boi.com or visit our website at
https://boini.bankofireland.com/ business/
Throughout 2016 we will continue to provide support and encouragement to Northern Ireland companies with ambitions to expand, from start up through to larger more established businesses planning for new global success. n
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