‘There is a brilliant network of innovative entrepreneurs’: Susan O’Kane on Belfast’s changing business landscape

From Belfast’s manufacturing heritage to its growing reputation as a hub for technology, innovation and international business, the city’s economy has undergone significant change over the past century.

At the heart of efforts to support that continued growth is Susan O’Kane, head of regional business for the Belfast City Region at Invest Northern Ireland.

Susan leads a regional team working with businesses, entrepreneurs and local stakeholders across Belfast, helping companies access support and identify opportunities to start, grow and scale.

News Letter spoke to Susan about how Belfast’s business landscape has evolved, the strengths and challenges facing the city’s economy, and the support available to businesses looking to take their next step.

How has Belfast’s business landscape changed over the years?

A century ago, Belfast’s economy was driven by traditional manufacturing. Our rich manufacturing heritage still shapes the landscape. The city is synonymous with the Harland and Wolff cranes, and the Linen Quarter and Titanic Quarter call back to our globally successful linen and shipbuilding heritage.

Now, around 70% of NI manufacturing takes place outside Belfast. Manufacturing is still important to our economy, but it looks different today than it did 100 years ago.

Since the mid-1990s, Belfast has seen significant growth in inward investment. Today, we have a strong mix of international investors alongside innovative, homegrown small and medium enterprises (SMEs). That combination has helped create a dynamic ecosystem and has brought global opportunities, supply-chain links and alternative career pathways.

In my lifetime, I’ve seen Belfast grow into an innovation-led economy. The sectors dominating the business landscape today are technology, aerospace, financial and professional services and cybersecurity.

What would you say is Belfast’s greatest economic strength?

Our innovative community of entrepreneurs and the “can-do” agile attitude from business leaders.

Although Belfast is now known for being home to multinational companies, the majority of businesses here are SMEs.

There is a brilliant network of innovative entrepreneurs at the heart of Belfast’s business ecosystem. Queen’s University Belfast and Ulster University are producing world-class talent and research, which is feeding directly into new technologies and business growth.

The City and Growth Deals will also keep innovation thriving for many years to come. The Belfast Region City Deal will accelerate innovation led growth across the city and wider region. A number of flagship innovation centres are already open or in delivery – including facilities focused on clinical research, digital health care, creative industries and in data security, connectivity, and analytics – creating new opportunities for collaboration between businesses, universities and colleges.

What are the biggest challenges businesses face in the Belfast city region?

Some areas of Belfast are disadvantaged and face challenges around economic inactivity. Addressing imbalances in Belfast is important to us.

We are increasing our presence on the ground in the Belfast city region, listening directly to local businesses and taking an integrated approach by working with Belfast City Council, Belfast Met, InterTradeIreland and Enterprise Agencies to lead on drop-in clinics for all to attend.

We are keen to ensure economic growth in Belfast is inclusive, with more businesses starting, scaling and creating opportunities in every part of the city, and not just where growth has traditionally been strongest.

What other support is available for Belfast businesses?

Belfast City Council has a range of support through its Go Succeed initiative that helps entrepreneurs start, grow, and scale their business. As part of our involvement within Community Planning and the Belfast Agenda, we work in partnership with the Council to identify companies that are ready to take the next step in scaling their business. I would also recommend Belfast Metropolitan College for businesses needing support with skills, innovation and apprenticeships. It works closely with industry, business and local communities.

Belfast has amazing workspaces, networks, and connections. For example, the award-winning co-working space in Ormeau Labs, the Innovation Factory, the innovation hub Catalyst and the enterprise agencies.

Another great resource is nibusinessinfo’s support for NI businesses finder, which lists business resources and programmes local to your area and I would encourage businesses to sign up to the monthly newsletter.

How can businesses contact you for further information or support?

We are continuously running events that aim to be accessible to everyone across the city. Our Business Breakfasts are two-hour information sessions that share insights and advice on topics such as improving productivity, energy and resource efficiency, and exporting.

We also run Drop-in Clinics with Belfast Metropolitan College, Belfast City Council and enterprise agencies, as well as IntertradeIreland and the Small Business Loan Fund. These clinics offer practical support to help new businesses or businesses looking to grow their existing business. Or you can reach out directly to our team by getting in touch with us here.