Northern Ireland Business Outlook Positive But Skills Shortages Need Addressing

The majority of businesses in Northern Ireland are optimistic about the future of the economy, according to an Ulster Bank survey.In its first all-island survey the bank finds that, in the north, 63 per cent of companies say their business prospects will improve.Half of companies in the Republic of Ireland say their business prospects will improve, while just under a third believe they will stand still.However in a report to the Northern Ireland Assembly business leaders said shortages of skilled workers in key areas will be a major factor holding back growth in the North's economy.The Confederation of British Industry (CBI) went before the North’s Employment and Learning Committee to stress the need for swift action rather than more consultations or strategies.They warned that training the right number of people in the right skills was needed if the North was to achieve the economic advance that the restoration of devolution provided it with.CBI projects there will be a need for 140,000 people to fill jobs during the next 10 years.