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A strategic approach 'is the key to growth'

By Margaret Canning

Published 17/08/2015

Aidan Gough, strategy and policy director at InterTradeIreland
Aidan Gough, strategy and policy director at InterTradeIreland

Firms with a good strategy are faring best as economic growth slows on both sides of the border, a survey said today.

The InterTradeIreland quarterly business monitor said growth slowed down in the second quarter of the year.

But InterTrade said firms who had a strategic approach to growth were doing better.

Aidan Gough from InterTradeIreland said: "Although moderate to rapid growth was found in businesses of all sizes, types and sectors, it was especially prevalent among larger firms."

He added that firms that were exporting and those who took a more strategic approach, such as having a business plan, were more successful.

The survey found 83% of businesses across the island were either stable or growing - and there was a hardy cohort of 36% of businesses this side of the border driving the recovery.

The monitor also said that growing firms were those most likely to have innovated across their business over the last three years.

Nearly 75% of the firms who were growing rapidly had introduced new or improved products or services.

Belfast Telegraph

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