350 businesses gather for “Business Connect” summit
The Small Firms Association is today bringing over 350 small and large businesses together at a special event in the Aviva Stadium. “Business Connect” provides a platform for companies to learn how they can win contracts with larger companies and how to position themselves correctly to deliver value.
Speaking at the event, Sue O’Neill, SFA Chair, stated: “Ireland is a nation of small businesses, with 98% of small firms employing half the private sector workforce. Our multinational base, despite only accounting for 2% of businesses employs the other half. Today’s Business Connect event brings together small and large companies based here in Ireland to start a conversation on how they can harness this unique ecosystem.
Multinationals currently source €4.5 billion of goods and €5.7 billion of services from indigenous businesses. It amounts to 18% of their total spend on goods and 7.3% of their total spend on services. There are huge opportunities for small business to collectively increase that spend, by looking at how we pitch our services, understand how both large and small businesses operate and strive to bring real innovation into our businesses and into what we offer.
Despite this positivity, Brexit poses one of the biggest challenges faced by small businesses in years, as business owners we can’t hold out to see what happens, we must put concrete plans into action so that we are fully prepared. The SFA will remain focused on preparing members for the opportunities and risks to their businesses post Brexit.
Other discussions on the day will focus on how small businesses can standout and differentiate their brand in an increasingly competitive market place, as well as how small and large companies can successfully work together to overcome challenges posed in a post-Brexit landscape.