Unlocking small firms growth potential will transform NI economy, says newly appointed Head of Business Banking at Ulster Bank Group
22nd May 2008
Enterprising and outward-looking small businesses will provide the engine room to significantly grow Northern Irelands private sector economy, according to Henry Elvin, Ulster Bank's newly appointed Head of Business Banking. Mr. Elvin believes that Northern Irelands small business sector offers considerable expansion potential, but firms must be ambitious and creative in seeking and exploiting new market opportunities.
Only by creating and fostering a culture of enterprise that encourages small firms to think big and be bold can Northern Ireland become a truly successful economy that enjoys sustainable growth, said Mr. Elvin.
Henry Elvin replaces Alan Stewart who retired at the end of March. Mr Elvin, previously Head of Corporate and Property Finance at Ulster Bank, will head up a team of XXX in Ulster Bank's Business Banking Northern Ireland division. Ulster Bank has 10 business centres across Northern Irelands major towns, a substantial commercial banking team covering all of Northern Ireland and dedicated corporate banking and property finance teams based in Belfast and the North West.
Mr Elvin has more than 19 years business banking experience having joined Ulster Bank in 1989.
According to Mr Elvin, Northern Ireland is now in a hugely important period of economic transition as the Executive seeks to rebalance the economy and reduce its dependence on the public sector. Northern Ireland has a dynamic and successful larger business sector which continues to innovate, expand and grow and will continue to play a hugely important role in the economy. However we believe that it is the small business sector that offers the largest potential for growth and unlocking that will be absolutely vital to expanding the private sector.
In order for this to happen, small businesses must become more innovative and enterprising and must be ambitious in looking to new markets. In particular this requires greater investment in research and development and a larger export-focus.
The Executive has prioritised the economy and growing the small business sector highly in its Programme for Government. For our part, we are committed to helping the small business sector achieve its full potential by working in partnership with firms to provide them with the benefit of our expertise, knowledge and support, adds Mr Elvin.
Commenting on his appointment Robert Gallagher, Chief Executive of Corporate Markets at Ulster Bank Group, says that Mr Elvin brings with him a wealth of experience and knowledge of Northern Irelands business sector to his new post.
Henry has been a key figure in the development and growth of our business banking Northern Ireland division and will provide the dynamism and leadership that is required to further enhance our position in Northern Ireland as the leading business bank.