• Menu
  • Skip to right header navigation
  • Skip to main content
  • Skip to secondary navigation
  • Skip to primary sidebar
  • Skip to footer

Before Header

Call us today!  028 3752 2909 or 028 8778 9500

  • Facebook
  • LinkedIn
  • Twitter

WHR Accountants

  • HOME
  • ABOUT
  • OUR TEAM
  • SPECIALIST SERVICES
    • Audit & Assurance
    • Accountancy
    • Book Keeping
    • Computerisation
    • Payroll Services
    • Business Development & Start-up
    • Tax
    • VAT
    • Business Information Systems Support
  • BECOME A CLIENT
  • BLOG
  • VACANCIES
  • CONTACT
  • SEARCH

Mobile Menu

  • HOME
  • ABOUT
  • OUR TEAM
  • SPECIALIST SERVICES
    • Audit & Assurance
    • Accountancy
    • Book Keeping
    • Computerisation
    • Payroll Services
    • Business Development & Start-up
    • Tax
    • VAT
    • Business Information Systems Support
  • BECOME A CLIENT
  • BLOG
  • VACANCIES
  • CONTACT
  • SEARCH
  • Facebook
  • LinkedIn
  • Twitter
Home » Blog » Business Confidence Returns To Northern Ireland

Business Confidence Returns To Northern Ireland

May 25, 2021 By //  by Andrew Gilpin Leave a Comment

A recent survey suggests that business confidence is returning in the country, with output returning to growth as the second quarter of the year kicks in. A survey by the Ulster Bank has revealed that business confidence is the highest it has been for 14 months, but there has been an increase in costs which is causing some concern among the business fraternity.

Optimism Returning To The Private Sector

The survey was taken in April and it shows that there is great optimism returning to many private sector firms. Ulster Bank`s chief economist Richard Ramsey is quoted on the BBC News NI website, saying:

“It’s the first time Northern Ireland’s private sector has recorded expansion of business activity since last September,” he told BBC News NI.

“We are seeing a big improvement in business conditions and overall we are seeing a significant rebound in April.”

“The worst is behind us in terms of the slump or the collapse in demand that we saw last year under full lockdowns,” he said.

“We are going to see a pickup in unemployment later in the year.”

Supply Chain Reduction & Rising Costs

And on the subject of supply chain reduction and rising costs, Mr Ramsey said:

“Adapting to the Northern Ireland Protocol is one aspect of the increasing cost of doing business.

“However, it isn’t the only source of disruption.

“Economies around the world have seen a lengthening in suppliers’ delivery times due to the pandemic and worldwide shipping issues such as a shortage of shipping containers.

“Linked to this, Northern Ireland firms once again reported a record rise in input costs stemming from higher prices for raw materials and fuel coupled with increased shipping costs.

“In turn, companies are also passing these increased costs onto their customers at a record rate.”

The Good News And The Bad News

So there is good news that business confidence is returning and we are seeing a bounce back in the economy, however the bad news is that it seems consumers may have to bear some of the extra costs that are now being incurred due to the factors described above.

We would like to reiterate that if there are any businesses out there who have not got the benefit of an accountancy firm looking after their accounts and helping with a business plan and business growth, we are here to help as a partner. Please get in touch with our team in confidence by giving our offices a call on 028 3752 2909.

Category: General

Looking for immediate answers to your questions?

Schedule a no-cost consultation today!

This is a very useful Call To Action in the “After Entry” widget area. You can put whatever you’d like in it, and change the background color to whatever you’d like.

You May Also Be Interested In:

Northern Ireland Energy Summit Back For A 2nd Year

Beyond The Fee: How An Accountant Can Save You Money On Your Taxes

BGF To Play Its Part In Supporting Businesses Across The UK With Funding

NI Business Delegation Visit Westminster To Push For More Investment, Support & Less Regulation

Surge In Use Of AI By Northern Ireland Businesses

New UK – EU Deal To Remove Routine Checks On Animal & Plant Products

8 Reasons Why An Employer Should Use Our Payroll Services

Rural Business Development Grant Scheme Proves A Hit With Rural Businesses

Concern Over More Cash Payments To Staff After Employers National Insurance Contribution Hike

Previous Post: « Hospitality Sector Finally Reopens Its Doors To The Public Today
Next Post: Using Outsourcing To Sustain & Grow Your Business »

Reader Interactions

Leave a Reply Cancel reply

You must be logged in to post a comment.

Primary Sidebar

WE PROMISE YOU:

If you are finding the current economic situation tough, then rest assured, we understand the pressures you face as a business owner or manager. You don’t have to face the future alone. When you choose WHR, you have an ally, a partner, a friend, in both the good times and the tough times.

028 3752 2909
028 8778 9500

RECENT POSTS

Job Retention Scheme – Update

Dear Payroll Client We are trying to continue to run our …

Northern Ireland Energy Summit Back For A 2nd Year

After a well received first outing, the Northern Ireland Energy …

Beyond The Fee: How An Accountant Can Save You Money On Your Taxes

For many, the idea of paying an accountant to handle their taxes …

BGF To Play Its Part In Supporting Businesses Across The UK With Funding

It is heartening to read that the Growth Capital Investment …

NI Business Delegation Visit Westminster To Push For More Investment, Support & Less Regulation

A business delegation from Northern Ireland, comprising of …

Surge In Use Of AI By Northern Ireland Businesses

Businesses up and down Northern Ireland have had no hesitation …

Footer

Director

James Robinson

Head Office

WHR Chartered Certified Accountants
028 3752 2909 or 028 8778 9500

56 English Street,
Armagh
BT61 7LG

Contact Us

Contact our office today. Our team are ready to help you. There is no better time than now.
Click Here →

Follow Us

Keep up to date with our social media

  • Facebook
  • LinkedIn
  • Twitter
  • Blog
  • Specialist Services
  • Privacy Policy

Website created by ZebWeb