iMultiply finds a warm welcome waiting for SMEs in Belfast

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iMultiply's Belfast office is celebrating its first month of trading and our team are delighted by the warm welcome and support which we have received from the Northern Ireland business community.

Business in Northern Ireland operates within a close-knit community which is inclusive towards SMEs, such as ours, starting up in Belfast. The calibre and potential of the companies operating in Northern Ireland is impressive.

With the entrepreneurial spirit alive and well here, we have arrived in the right place at the right time. This has been reinforced by the current hiring challenges facing Northern Ireland businesses, as highlighted in the latest Northern Ireland Chamber Quarterly Economic Survey,

“A staggering 81% of manufacturers and 71% of services businesses taking on staff say they had difficulty recruiting for positions in the second quarter of this year.”

Given the prevalence of both sectors in the Ulster University Business School Top 100 locally owned firms, there is definitely market appetite for an innovative, driven, and agile finance recruitment firm.

When you start to look at the sector statistics, it really is incredible. For example, 72% of the Top 100 locally owned firms are family owned businesses, with the minimum threshold to make the Top 100 being a pre-tax profit of £1.5m. This represents a significant uplift from a pre-tax profit requirement of £740k in 2016 and £660k in 2015. People underpin business success, so accessing talent must be high on the agenda of business leaders across Northern Ireland.

The entrepreneurial spirit and drive for growth and ownership is even more evident in the burgeoning tech scene. Edinburgh has been renowned for its tech start-ups for a number of years. Belfast will soon be spoken of in the same vein, the tech scene here is being heavily supported by organisations such as Invest Northern Ireland, Ulster University, and Queens University. The facilities and support network available at Catalyst Inc, Northern Ireland’s next generation science park and commercial incubator, are outstanding.

It is only a matter of time before the next Skyscanner takes flight from Belfast and becomes recognisable on a global scale. Funding from the banks is becoming readily available for local businesses to scale up and the arrival of additional growth funding through venture capital and private equity firms will only help to accelerate this.

We anticipate that our Agile FD offering could potentially add significant value to emerging businesses that require financial expertise without the pain of a permanent salary.

Given that iMultiply opened its Befast office doors in October 2017, we are absolutely delighted to be working with some established household names. Again, this is down to the openness of the business community to entrepreneurship.

The feedback from our new customers has been extremely reassuring for the journey ahead into 2018. It seems we are bringing an approach that challenges convention within the recruitment sector. The fact that we reward our team based on customer feedback as opposed to fee generation has really struck a chord with our customers in Belfast.

For further details please contact Billy McCarthy, iMultiply Director on tel. 02892449980;