Vast Majority Of NI Businesses Trading Well According To Latest Survey

The latest NI Chamber and BDO NI Quarterly Economic survey paints quite a rosy picture on how businesses in Northern Ireland are faring, with 79% of them saying that they are trading well, despite the travails of changing trading arrangements and continuing rising costs to contend with.

It is interesting to see what NI businesses think about the more cooperative approach that the UK government is taking with the EU in a bid to improve relationships and help foster better trading conditions.

The Results Of The Survey

Here is what the survey found in part, as copied from an article on the Belfast Newsletter website. The article by Claire Cartmill reads:

‘Over 1 in 5 say it’s too early to say what impact the EU-UK reset will have, but 41% of those who responded to the research believe it will have a positive impact on the NI economy, while 39% are of the opinion it will have a positive impact on the UK economy.

‘Agreed in May 2025, the deal marks a shift towards a more cooperative UK-EU relationship, enhancing co-operation on trade, food standards, energy, and youth mobility. Perspectives about its impact on individual businesses are more mixed; 24% believe the reset will impact positively while 36% are neutral. 10% believe it will be negative for their business and 1 in 5 remain uncertain.

‘Members were also asked about the impact of US tariff measures. In response, 21% of respondents said they expect it to have a negative impact on their business, compared to 10% who believe it will impact positively. Businesses with US trade links are notably more concerned, with 34% anticipating negative effects.

‘Most businesses (79%) report generally healthy trading conditions, trading either well (35%) or reasonably (44%) in Q2 2025. Meanwhile, around 21% of businesses were experiencing challenges, with 15% just covering costs and 6% struggling or on the verge of closure.

‘Manufacturers (48%) are slightly more confident around turnover growth for the next 12 months than Services (42%). Confidence around profitability dipped for both sectors in Q2 25, particularly for Services, after a positive start to the year. The profitability balance remains positive for both sectors, suggesting that on balance, businesses are making profits despite cost pressures.’

Northern Ireland Businesses Showing Tenacity And Resilience

In the same article Suzanne Wylie, chief executive at NI Chamber, is quoted as saying about the survey:

“Once again, our research highlights the tenacity and resilience of Northern Ireland businesses, with 79% continuing to trade well or reasonably despite numerous challenges, including absorbing the cost of the Autumn budget and dealing with protracted uncertainty in international markets.

“However, the mixed responses to recent changes in trading arrangements highlight the need for greater clarity and support. While 41% of respondents believe the EU-UK reset will positively impact the NI economy, concerns persist around ongoing GB-NI trade frictions. Separately, businesses are also uncertain about the implications of proposed US tariff measures, with views on their impact divided and many yet to form a clear assessment.

“Taking all this together with a new trade strategy, a new industrial strategy, and a new trade deal with India, it is imperative that the government provides Northern Ireland’s businesses with clear timelines, detailed information, and robust support to navigate these changes and seize new opportunities.”

The new trading arrangements appear to be a step in the right direction, but more clarity is obviously required moving forward and a little less uncertainty engineered by President Trump on his tariff proposals and other matters would also help.