Challenge - NI Economy Without Mentioning the P-topic

A.L.D.A

Mistral001 wrote: »

Thanks for reply but treading or soft ground with regard to letting the challenge beat you!!

No P words though! The sector is probably a fair percentage of our manufacturing and service exports. We are good at it, and it could be a lot more significant very quickly with little additional investment needed as there is a lot of spare capacity, but little co-ordination.

Mistral001

x12yhp wrote: »

I am involved with an NI based manufacturer. We are a small company and have recently invested (our own money, INI not even slightly interested). We have invested in a development section and spent a considerable amount trying to get ourselves in line with the insane level of regulation. We have also relocated to new premises to allow expansion over the coming times. At present we struggle a bit because people are not buying unless they need to but the invested money has brought about new products as well as new customers, both through the web and direct contacts. We currently export to Europe and occasionally the middle east. But, like when we wanted help previously, expanding and exporting further is very difficult. We need to earn money in the bank before we can spend it and it does not matter that we want to bring foreign money in... we still have to make the contacts ourselves, check the validity, security etc etc. ........

I am not absolutely sure if the "investment" that you mention is from the bank, but I assume by this post that it is from your own funds.

I think many people forget that investment can come from a companies own profits. In fact I would hazard a guess that in most small and medium size businesses that it is their own money that they are investing.

However, the received wisdom, going by business studies courses and TV programmes (eg. Dragon's Den) is that borrowing money is the ONLY way to grow a company.

I heard the boss of a sucessful company being interviewed on radio by Evan Davies the other day. The firm had won some sort of award where it had been voted the best run business by other businesses. There was an audible gasp from Mr Davies as the business boss described how he had built up the business without once ever taking out a loan. My goodness, if every business was run like that wouldn't it be terrible?!!!

x12yhp

Mistral001 wrote: »

I am not absolutely sure if the "investment" that you mention is from the bank, but I assume by this post that it is from your own funds.

I think many people forget that investment can come from a companies own profits. In fact I would hazard a guess that in most small and medium size businesses that it is their own money that they are investing.

However, the received wisdom, going by business studies courses and TV programmes (eg. Dragon's Den) is that borrowing money is the ONLY way to grow a company.

I heard the boss of a sucessful company being interviewed on radio by Evan Davies the other day. The firm had won some sort of award where it had been voted the best run business by other businesses. There was an audible gasp from Mr Davies as the business boss described how he had built up the business without once ever taking out a loan. My goodness, if every business was run like that wouldn't it be terrible?!!!

The problem that small to medium businesses have is that they often cannot afford the risk of significant borrowing because the business can be responsible for the present and future income of those involved as well as the pension. Since such enterprises are often run with the minimal number of staff and do not have in-house investment and development expertise... it becomes a significant risk to be borrowing any sizable sums. To even get a quality assessment of where money would best be invested will cost a lot of dosh through private consultants.

Mistral001

The Euro conference outcome seems to have confirmed how much the UK economy depends on the City of London.

I hope the City has lots of money to invest here. Doubt it though.

A.L.D.A

Mistral001 wrote: »

The Euro conference outcome seems to have confirmed how much the UK economy depends on the City of London.

I hope the City has lots of money to invest here. Doubt it though.

Always has, name one King or Government that could ignore it. The City of London Corporation is a strange set up. The 'City' is a corporate City. It is the world's leading financial centre and I can understand why we would want to protect its interests, and why others would like to curtail it.

There is a strange game going on with regards the Euro. There are two ways of looking at the problem. The first is that they are a bunch of dithering fools, etc and why did they not agree to intervention by the ECB years ago. I do not buy this at all.

The second is they are all up to their necks in scheming to gain advantage for their own countries. They want power and control. Dangerous game.

Looking ahead this could well mean attempts to remove tax anomalies in Euro Land. That may have very significant effects in a changing dynamic between Ireland and the UK in relation to Corporation Tax etc. UK is committed to reducing CT.

I am fairly pro the EU, but at the moment being a bit distant may not be a bad place to be as the consequences of decisions taken are likely to cause grievance in many countries.

We could end up in a good position by accident.

wanchai_2

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Ooops :rotfl:

A.L.D.A

wanchai wrote: »

Ooops :rotfl:

You are risking excommunication.