Today Northern Ireland’s economic future is at a critical tipping point. A push in the right direction and the region will flourish, a tip in the wrong direction and the region could face severe economic challenges and continued uncertainty.

In order to place the region on the path toward growth and prosperity, private sector leadership must drive the transformation of the Northern Ireland economy. This transformation will not take place overnight but the work must begin now.

The Belfast Telegraph’s Top 100 Companies represent not only Northern Ireland’s biggest and most successful enterprises, but the greatest hope for a swift economic recovery and further job creation. These companies come from a wide range of industries and are spread across the entire region. They have enjoyed the benefits of operating in an environment with great resources, top talent, and a pro-business government. Despite challenging economic conditions, many of these companies are taking advantage of market opportunities and are focused on creating jobs.

The global economy is showing promise. World Trade Volumes increased by 15.7% in 2010, and are forecast for 8.3% growth in 2011, and 9.6% in 2012. Real Global GDP increased by 4.9% in 2010, and is forecast to grow 4.6% in 2011, and 4.8% in 2012. In the US, unemployment has dropped below 9% for the first time in several years. These are positive signs.

While the global economy has seen some glimmer of hope, government spending around the world continues to diminish. To fill this void, the private sector must lead the way and get in the driver’s seat in terms of creating economic opportunities. The Northern Ireland government has worked hard to provide political stability and develop the right growth policies. Invest NI and Minister Foster’s economic development strategy has helped create more than 1,200 new jobs this year alone. They have gotten it right, and are focused on the sectors that I believe will drive economic growth for the next two decades. Yet, long-term growth and economic profile change of the magnitude we would all like to see in Northern Ireland can only take place if the Northern Ireland private sector plays a pivotal and dominant leadership role.

During St Patrick’s week in Washington DC, I, along with First Minister Robinson and deputy First Minister McGuinness, again had the chance to present the Northern Ireland investment case to potential investors. Secretary of State Hillary Clinton and the United States Government remains deeply committed to the region.

However, Northern Ireland cannot be dependent on foreign investment alone. My challenge to the region’s business leaders is to use this moment in time, when the rest of the world is still recovering or dealing with new challenges, to position Northern Ireland on a path of accelerated growth. This means taking risks — hiring, expanding businesses, starting new businesses and starting to see challenges as opportunities. If the private sector waits until the global economy has fully rebounded it will be too late and that is why it’s so crucial that we begin this work immediately.

Private sector leadership, combined with all the other advantages the region offers, will create an economic growth engine that will drive Northern Ireland successfully into the future. There are tremendous opportunities out there for those who are innovative, entrepreneurial, and move quickly to spot the opportunities. I commend the Belfast Telegraph’s Top 100 Companies for their leadership and urge them to keep investing in the region. They, along with every other business in Northern Ireland, will help drive the necessary growth and ensure that Northern Ireland reaches its full potential.