Cross Border Partnerships Key to Business Growth

More than 80 local companies have attended an Invest Northern Ireland event which uncovered the benefits of cross border partnerships.

At the ‘Bridging the Border’ event, delegates discovered a wealth of partnership opportunities including those involving licensing agreements, commercial agreements, subcontracting, technical cooperation and financial support which are currently available across many sectors.

Tracy Meharg, Managing Director of Innovation and Capability Development at Invest NI encouraged local firms to exploit partnerships for commercial gain:.

“With global markets becoming increasingly competitive, local businesses must utilise every opportunity to secure new business opportunities. Partnerships encourage effective and efficient use of resources and provide important in-market relationships for small firms who tend to lack the time and resources to fully develop elements of their business.

“Although cross-border cooperation between SME’s has always existed, it has existed on a relatively small scale with low levels of participation. The emergence of clusters and networks around the border areas is helping to address the problem by encouraging co-operation and collaboration in key industry areas. This is complemented by the work carried out by Invest NI’s Innovation Relay Centre which promotes the benefits of partnerships and collaboration.”

“Partnerships can deliver mutual benefits by helping firms of all sizes and in all sectors to share or combine activities, such as purchasing, marketing, new product development and technological advances. I would encourage all firms, regardless of their size or sector to investigate the business benefits of cross border partnerships and seize the opportunities for growth which are on their doorstep.”

The event included presentations from Invest NI, Enterprise Ireland and IntertradeIreland. A similar event organised by Enterprise Ireland and targeted at SME’s in RoI will take place in Dublin on April 19.