A new survey of Northern Ireland business chiefs has found that three-quarters of them fear that the collapse of the Belfast Agreement would wreck business confidence.
An even higher percentage - 80 per cent - is in favour of devolution and is concerned that the suspension of the Stormont institutions will threaten confidence, investment and jobs.
Eight out of 10 chief executives said Assembly control of economic strategy was the best option to develop the Northern Ireland economy. They told the BBC Business Day Northern Ireland poll that devolution, backed by political stability, peace and foreign direct investment, were the keys to future economic prosperity.There is also high support for all-Ireland business links. Nearly 70 per cent of Northern Ireland business leaders say local businesses should develop closer ties with the Irish economy.
The survey took place both prior to, and after, the suspension of the Northern Ireland Assembly.
Dr Alasdair McDonnell, SDLP spokesman on enterprise, trade and investment, said the survey clearly illustrated that direct rule would affect business. "Devolution worked for the economy here. Unemployment figures were decreasing and inward investment was increasing," he said.
"The political vacuum and escalating violence will only serve to damage the good work that has been done here under Assembly control. It will damage foreign investment and local expansion," Mr McDonnell added.
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