HomeKey business sectors
Many of the Belfast's business sectors and
industries are leading the way in terms of
innovation and creativity on a global scale. Belfast is home to a strong software, financial services and telecoms sector, but is also embracing new sectors of excellence in areas such as creative industries and advanced manufacturing.
World-class businesses located in Belfast include Microsoft, Citigroup, Bombardier Aerospace and Fujitsu.
Key sectors for potential investors are as follows:
Financial services
The financial services sector employs over 20,000 people and includes key investors such as Citi, the Allstate Corporation, Liberty Mutual, Wombat Financial Software and HBoS as well as many indigenous companies.Around 13,000 students are currently taking finance-related courses at undergraduate level.
Northern Ireland is Europe’s leading location for financial services software development, attracting more than a third of total projects in the last five years. The majority of these companies are based in Belfast.
Since establishing its first operation in the city in 2005, Citi has created a Centre of Excellence at its new premises in the city’s Titanic Quarter. The 850 people employed at the centre provide specialised support services to the corporation’s facilities in Middle East and Africa.
Life sciences
Belfast's life and health technology sector has shown strong growth in recent years, grounded in leading-edge research in areas such as oncology, genomic and proteomics.In recent years, through indigenous growth and global acquisition, sales throughout the life science sector have almost doubled, while employment levels have increased by around 40%.
The European Centre for Connected Health (ECH) was established in the city in 2008. The Belfast campus undertakes research and development activity which will promote improvements in patient care through the use of technology in health and social care.
ICT
Belfast's ICT sector has grown rapidly over the past number of years and the software area has developed, particularly in financial services, mobile communications, internet and e-commerce.Ready access to a highly-skilled and loyal workforce and the existence of an already thriving local industry has led major companies such as Nortel Networks and BT to choose Belfast as a location for their software operations.
The rapid growth of the sector owes much to a number of indigenous companies who have successfully tapped into international markets as well as the academic research and support which encourages further innovation and development in the sector.
Creative industries
The creative industries sector is one of Belfast's fastest growing sectors with over 1,000 creative businesses based in the city, employing over 17,000 people.Important sub-sectors for Belfast include film and television, digital media, and fashion and design.
Annual turnover levels for Belfast companies range from £30,000 to £15 million and almost seven out of 10 companies are micro-businesses, employing less than 10 people.
The city has a thriving music scene and has been used as the location for a number of major films in recent years including City of Ember, Closing the Ring and Your Highness.
In order to promote further investment in the sector, a £5million Creative Industries Innovation Fund has been established by the regional government department responsible for culture, arts and leisure.
Manufacturing
Belfast has a strong traditional manufacturing base and the sector continues to play an important role in the city’s economy, accounting for approximately 5.2% of employment.Small, niche manufacturing companies are continuing to flourish in the city, supported by the 2,000 engineering and IT graduates produced by local universities each year.
