Euro a 'big challenge' to NI small business

The introduction of euro notes and coins will present major challenges to small firms in the North, an industry body warned yesterday. The Federation of Small Businesses said the introduction of the currency on January 1st would impose fundamental changes on commercial life in the North.

Its newly appointed chairwoman, Mrs Rosemary Armstrong, said: "Even though Northern Ireland will not officially be in the euro, unofficially in many ways we will be. "This is a challenge that we must face head on and I would call on the Northern Ireland Assembly to redouble their efforts in providing the necessary information to small business on the euro."

At the annual general meeting of the federation in Belfast, she said small businesses had been the "unsung heroes" of Northern Ireland during the past 30 years and they were determined to be the "lifeblood" of the North's new economic future.

"The Northern Ireland Assembly offers us a chance to shape and design a new political environment which is pro-business and pro-prosperity. But the Assembly must address the problems of whole communities in north Belfast torn apart by sectarian division and violence - otherwise the future political stability that business needs to grow will be under threat," Mrs Armstrong said.

The federation wanted to see a "culture of innovation and an entrepreneurial mindset" being created in Northern Ireland. "The past should not be allowed to be the only model for the future, we can, and must, take charge of our own destinies."