The event returns to the Titanic Exhibition Centre, Belfast from Tuesday March 29 to Thursday March 31 March 2022, when it will be celebrating its 25th anniversary.

As one of Northern Ireland’s longest-standing trade exhibitions where foodservice and hospitality’s biggest players all come under one roof, IFEX is laying down the foundations to ensure next year’s show is a success, with  support from associations including Hospitality Ulster, the Federation of Small Business, Retail NI and The Guild of Fine Food.

“As one of the sectors most impacted by the pandemic, IFEX, marks a new dawn for foodservice, hospitality and retail as industry rebuilds following an unprecedented period of closures and restrictions,” said Toby Wand, Managing Director of 365 Events Ltd.
“IFEX is firmly-rooted in NI’s hospitality industry and celebrating its 25^th anniversary, next year’s show is set to shine a light on the importance of IFEX to Northern Ireland’s hospitality sector and will provide a vital meeting place for those within the industry to reconnect, uncover new learnings, secure new business and discover relevant technologies to improve their businesses and customer focus.

“With four months to go, we’re delighted that so many key industry players as well as new brands have already joined the growing exhibitor list, so we’ve high hopes for the 2022 event.”

Big names

Many of Northern Ireland’s biggest names in foodservice have already confirmed, including Stephens Catering Equipment, Henderson Foodservice, Sysco, Golden Glen and Lynas.

Central to IFEX is Salon Culinaire, Ireland’s largest and most prestigious chef competition programme, headed up by Salon Director, Sean Owens.

As the stomping ground for student and industry chefs, Salon Culinaire is hotly anticipated as the place where the ‘best of’ culinarians in Northern Ireland are formally acknowledged.

From showcasing the latest food and drink trends to industry leading technology, equipment and services, IFEX will feature a range of visitor attractions designed to inspire and engage.

The event will be a one stop shop for discovering some of the best products that NI has to offer, including a new Hospitality Skills Hub, new IFEX Innovation Awards and the return of the Great Taste Market, bringing together the best of Northern Ireland and Ireland’s speciality food and drink products.

IFEX, taking place from the 29^th – 31^st March 2022 at the TEC, Belfast, is organised by 365 Events. The forthcoming exhibition will be operating in line with all public health guidelines.

For further information on IFEX, see www.ifexexhibition.co.uk

Caption: Colin Neill, Hospitality Ulster; Andrew Davis, Retail NI; Brendan Kearney, FSB NI with Sean Owens, IFEX Salon Culinaire Director.

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Economy Minister Gordon Lyons has announced the contract for the delivery of the High Street Scheme (HSS) has been awarded to Prepaid Financial Services (PFS).

The £145million scheme will give everyone aged 18 and over in Northern Ireland a pre-paid card worth £100 to spend on their local high street. It is planned that the registration process will open to the public in September.

Minister Lyons also today revealed the ‘Spend Local’ logo which will feature on each of the cards.

On the cards

Speaking during a visit to businesses in Carrickfergus, the Minister said: “After a robust procurement process, I am pleased to announce that the contract for the High Street Scheme has been awarded to PFS.

“This scheme is a key element of my Department’s Economic Recovery Action Plan and will give a very welcome boost to our high streets which were hard hit by the Covid-19 pandemic. This uplift is what our local businesses need and deserve.

“It will mean up to 1.4 million people will have an extra £100 each to spend on our high streets rather than online. This will help bring many more customers back through the doors of local retail, hospitality and other sectors.

Benefits

“I look forward to seeing the benefits this scheme will bring to the wide range of businesses situated in the heart of towns, villages and cities across Northern Ireland.”

PFS is a payments technology company which helps governments worldwide get money quickly into the hands of people who need it the most. Most recently, citizens in the United States, the United Kingdom, Australia, Spain, Italy and Finland have been assisted with innovative payment solutions across 562 separate initiatives.

Lee Britton, CEO Europe at PFS, said: ”We are delighted to have been awarded this contract. Our award-winning economic stimulus product trusted by governments worldwide will help to give a huge financial boost to the Northern Ireland economy.”

Colin Neill, Chief Executive of Hospitality Ulster, said: “Hospitality businesses are an integral part of our city, town and village high streets and have suffered considerably due to the impact of Covid. The High Street Scheme is a really welcome and important way we can all support our struggling high street businesses.

“Supporting the high street not only helps the businesses, it also supports the jobs of our friends and family who work in our hospitality industry.”

Difficult year

Aodhán Connolly, Director of the Northern Ireland Retail Consortium, said: “The past year has been one of the hardest on record for our retail industry and our high streets because of the pandemic. This scheme will give a welcome boost to high street retailers and other consumer-facing sectors in towns and cities in Northern Ireland. It will create a virtuous circle of spending that supports our economy, boosts local commerce and gives our shoppers some retail and hospitality therapy. We would encourage everyone who is eligible to register for the scheme and make every penny count.”

Win-win

Retail NI Chief Executive Glyn Roberts said: “This scheme is a win-win for our members and our high streets. It will be a significant spending boost for struggling independent retailers as we progress the long road toward recovery.

“70p in every pound spent with an independent retailer is recycled around the economy, supporting local producers, farmers and manufacturers. So it is vital that consumers make a special effort to spend this pre-paid card with local traders to ensure the widest possible boost to our economy.”

Roger Pollen, Head of the Federation of Small Businesses (FSB) NI, said: “This scheme is a key element in reinvigorating our retail and hospitality sectors after more than a year of crippling restrictions and downturn. What is particularly important is the simplicity of its operation and the widespread distribution.

“By empowering every adult consumer in Northern Ireland, the value of the spend will reach every community and sector. We would urge users of the scheme to consider those businesses that have been most impacted by the pandemic and use their pre-paid card where it can spread most benefit.”

September

Minister Lyons added: “My Department is planning for the scheme to go live in September and I want to ensure everyone who is eligible can receive their pre-paid card as soon as possible after registration. As a first step in that process I would urge members of the public to sign up for the electoral register if they have not already done so as we plan to use the register to check registrations for the High Street Scheme.”

The Minister also today published research carried out by Retail Economics to inform the roll-out of the High Street Scheme.

Retail Economics carried out research on how, when and where the HSS scheme could impact on consumer spending. The researchers made use of outturn data from a similar scheme which operated in Jersey and information from the Office for National Statistics. A consumer panel survey was also conducted, reflecting a nationally representative sample of 1,000 households in Northern Ireland.

Roll-out

Minister Lyons said: “Currently, we intend to roll out the High Street Scheme in the autumn. This aligns well to Retail Economics’ recommendations on optimal timing.

“The results of the consumer panel show that there is evidence that the scheme will encourage shoppers back on the high street, to support local independent businesses and to spend their card in those sectors that have faced difficulties trading in the past year. Many respondents considered that it would encourage them to visit physical locations.

“The Covid health restrictions will need to be monitored closely and taken into account as we move forward.”

@Economy_NI

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The survey included members of Retail NI, Manufacturing NI and Hospitality Ulster and was conducted in September 2020, prior to the latest COVID-19 restrictions being imposed across the province. Over 50% of respondents indicated they are ‘concerned’ or ‘very concerned’ about their performance in the year ahead, with a further 29% saying they are ‘uncertain’.

When asked by how much their employee headcount will change by this time next year, one quarter (25%) of businesses predicted that it would be ‘up to 25% lower’, with 17% saying ‘up to 50% lower’ and 6% saying ‘more than 50%’ lower. Only 9% of respondents said their headcount would be higher, with 44% saying it would be ‘similar’.

Just 12% of respondents predicted that their turnover would be higher this time next year, meanwhile, almost one quarter (23%) estimated that it would remain ‘similar’. Of those suggesting that their turnover would reduce over the coming year, 26% said it would be ‘up to 25% lower’, whilst 25% said it would be ‘up to 50%’ lower and 12% claimed it would be ‘more than 50% lower’.

“It is clear that significant challenges will lie ahead for these businesses across what are among the sectors worst-hit by the coronavirus pandemic,” comments Davy Elliott from Duff & Phelps. “Whilst these results are concerning, it is encouraging to note that respondents are proactively taking steps to protect their businesses and boost recovery efforts in the coming year and beyond.”

While 40% of respondents said they will consider restructuring their business in the next 12 months, 27% said they intend on repurposing or diversifying their product line. Sixteen percent (16%) will endeavour to renegotiate their existing lease terms, while 15% will seek to refinance their business.

“We have been involved in a number of restructuring cases where we’ve completed an independent review of the value of a business and its assets. This has helped guide stakeholder assessment and decision making, particularly where multiple parties are involved, and brought the requisite level of independence and integrity to the process,” Elliott added.

The survey respondents also identified a range of support initiatives they will rely on to help their businesses recover from COVID-19 in the coming year. Over two-thirds (69%) of businesses will call upon government grants or loans, with 51% also relying on employee retention support. Two-fifths (41%) will seek to defer HMRC payments, while one quarter (26%) will seek new or additional bank lending and 37% will focus on marketing and promotional development activity.

When asked to share their thoughts, the Chief Executives of Trade NI. Glyn Roberts, Stephen Kelly and Colin Neill said: “What comes across very clear from the survey of our respective memberships is the vital importance of the rates holiday and the need to extend it further from April 2021. If our economy is to stand any chance of recovery, further rates relief will be needed throughout next year to support our members as we rebuild our shattered economy.”

There are steps that businesses across the retail, hospitality and manufacturing sectors can take in the coming months. Anne O’Dwyer, Managing Director and Co-Head of Duff & Phelps adds: “Whilst it is challenging to accurately forecast trade over the short to medium term given the current flux in the market, having a clear picture of expected cash flows is essential.”

Duff & Phelps is the world’s premier provider of governance, risk and transparency solutions. We work with clients across diverse sectors in the areas of valuation, corporate finance, disputes and investigations, cyber security, claims administration and regulatory compliance.

“Trading projections can be flexed as the environment changes but highlighting potential funding gaps or cash constraints will assist businesses as they look to negotiate with stakeholders or apply for additional funding supports,” she said.

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