Leading NI economist tells us to get on our planes and export!

Well, you don’t have to own the plane to do this but exporting is exactly what we need to do to rebuild our economy. Now, this is not news to me – I’ve been preaching this message for a long time. But let’s give the weight of mightier minds than mine to the message.

At a recent breakfast meeting, organised by the Sales Institute of Ireland, Dr. Esmond Birnie, Chief Economist at PWC NI waxed lyrical about adapting to the “new normal” of the legacy of the financial crisis, dealing with structural adjustments and low growth in the developed economies and creating opportunities from the rise of Asia and, in particular, the BRIC countries.

And with the public sector contracting and NI’s over-dependence on it for both jobs and trade, selling locally is becoming harder and harder.

So the basic message is that the private sector needs to export more to these new growing markets (NI companies currently export only 3% of their products and services to BRIC economies). So get on a plane, find a well-connected taxi driver and cruise for business. Or alternatively, engage with local experts who’ll do some research to find the right markets, partners and channels for your business. And even help you close those first critical deals.

One final option is to stay at home, make no decisions for now and hope for “good times to return again”. But please remember that hope is not a strategy.

Geraldine Fusciardi
http://www.strategy-structure-sales.com/