The Market Is Changing. Are You Ready?

"The Market Is Changing. Are You Ready?" - our first Future-Proof Your Sales event

Local business owners and professionals joined us in Sketrick House this week for the The Market Is Changing. Are You Ready?, the first event in our new Future-Proof Your Sales series. Designed to help businesses navigate an increasingly uncertain economic environment, the morning brought together expert speakers from across the economic, financial, business support and tourism sectors to explore the trends shaping Northern Ireland’s business landscape and the practical steps organisations can take to stay competitive.

The four aims of this event were:

  • To improve your understanding of what is happening in the Northern Ireland economy today
  • To show you the options available to grow or maintain your business
  • To help you better understand where your customers come from and what they want
  • To give you the chance to get answers from the experts, as well as engage with fellow business owners

As businesses face rising costs and changing consumer expectations, those who understand the market and plan proactively will be best positioned for future success.

Understanding the Economic Landscape

The morning opened with a strong keynote presentation from Gareth Hetherington, Director of the Ulster University Economic Policy Centre, who provided a detailed overview of Northern Ireland’s economic outlook.
While Northern Ireland continues to see growth in employee numbers, Gareth highlighted several challenges facing the economy. Labour market pressures remain significant, demographic changes are creating workforce challenges, and businesses are operating in an environment of relatively low economic growth.
Despite these challenges, there was also cause for optimism. Gareth highlighted the opportunities available in high-growth sectors including life sciences, technology, cyber security, professional services and advanced manufacturing. His key message was that Northern Ireland’s future economic success will depend heavily on investing in people, skills and business development.
Gareth Hetherington, Director of the Ulster University Economic Policy Centre
Iain Joannides, Head of Eastern Regional Business at Invest Northern Ireland

Growth Starts with Understanding Your Business

Next, Iain Joannides, Head of Eastern Regional Business at Invest Northern Ireland, shared practical advice on business growth, innovation and support opportunities available to local business.
Iain challenged attendees to consider whether their business had a clear value proposition; Why should a customer choose your business over a competitor? He emphasised that many businesses are excellent at describing what they do, but often fail to communicate the value and benefits this delivers to customers. A strong value proposition should be front and centre of a business’s website and marketing, helping visitors quickly understand the problem being solved, the benefits on offer and what makes the business unique.

Iain also highlighted a wide range of support available through Invest NI, including innovation vouchers, business innovation grants, sustainability support and finance programmes designed to help businesses bring new products and services to market.

Becoming Investment Ready and Accessing Finance

Ryan Mawhinney, Head of Small Business at Danske Bank NI, explored how businesses can access the funding they need to support growth and what banks may look for when considering investment.
Businesses seeking finance need more than ambition and good ideas; they need to demonstrate that they understand their market, have clear plans for growth and can effectively manage risk. Ryan highlighted the importance of robust business plan, including realistic forecasts, strong cash flow management and a well-defined business strategy when approaching lenders or investors.
His message was clear: businesses that prepare thoroughly, understand their numbers and can confidently articulate their growth plans are far more likely to secure the funding and support needed to achieve their ambitions.
Ryan Mawhinney, Head of Small Business at Danske Bank NI
Patrick Flack, Senior Insights Officer at Tourism NI

Understanding Changing Consumer Behaviour

Our final presentation came from Patrick Flack, Senior Insights Officer at Tourism NI, who shared fascinating consumer research highlighting how customer attitudes and spending habits are changing.
While consumers remain cautious due to ongoing cost-of-living pressures, Patrick explained that spending has not stopped. Instead, customers have become significantly more selective about where and how they spend their money. Research shows that consumers are focusing more closely on value for money, looking for meaningful experiences and purchases that feel worthwhile. Many are reducing discretionary spending on activities such as dining out and retail purchases, while seeking opportunities that deliver greater perceived value, such as group activities.

A particularly important takeaway for businesses was that customers are not necessarily looking for the cheapest option. Rather, they are looking for businesses that can clearly demonstrate value, build trust and deliver positive experiences.

The key takeaways for business owners

While each speaker brought a different perspective, several practical lessons emerges that businesses can take away with them:

  • Growth opportunities still exist in Northern Ireland, and we lead the world in many markets and sectors
  • Focus on your value proposition; sell positive outcomes, not products
  • Use data to make better business decisions
  • Preparation is key when seeking funding
  • Customers are still spending, but they expect clear value

What's next?

Many of our speakers came prepared with their organisation’s resources, and we would encourage all business owners to look at how these organisations can help you through the links below.

The Future-Proof Your Sales series continues later this year with our November workshop exploring how to lead a business whether you are a solo SME or small team, before concluding in January with a practical workshop focused on creating a 90-day sales plan. You can book your tickets below.

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The Market Is Changing. Are You Ready?

Local business owners and professionals joined us in Sketrick House this week for the The Market Is Changing. Are You Ready?, the first event in our new Future-Proof Your Sales series.

Ards Business October 15, 2026

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