Supporting Small Businesses: Insights from the 2024 InterTradeIreland Venture Capital Conference in Belfast

The Economy Minister of Northern Ireland, Conor Murphy MLA, stressed the significance of supporting small and medium-sized enterprises (SMEs) in driving higher productivity and creating better jobs. These remarks were made as he inaugurated the 2024 InterTradeIreland Venture Capital Conference, which welcomed over 600 delegates from across the island of Ireland at Titanic Belfast.

The conference, hosted by author and co-founder of “The Positive Economist” Susan HayesCulleton, aimed to facilitate connections between early-stage and start-up businesses with venture capitalists, business angels, and other investors. Conor Murphy emphasized the essential role played by SMEs in the economy, constituting more than 99% of firms. He highlighted the need to support innovative small and medium-sized businesses and the entrepreneurs driving their success in order to achieve the economic priorities of higher productivity and better jobs.

The theme of the conference was ‘Accessing Venture Funding in 2024’, which featured keynote speeches and panel discussions focusing on essential aspects of raising venture capital and current sources of equity funding. Notable venture capital funds such as Techstart Ventures, Clarendon Fund Managers, and HBAN shared insights into what investors look for in a pitch.

Margaret Hearty, CEO of InterTradeIreland, expressed optimism for the business and investment community across the island of Ireland, highlighting the strong equity culture and supporting infrastructure for business angel and venture capital investment. She also noted the positive performance of Ireland in terms of venture capital funding compared to a decline seen across Europe.

In a landmark 25th anniversary year for InterTradeIreland, the organisation continues to support ambitious entrepreneurs, preparing them to attract investors and connecting them with expertise to scale up their businesses. The conference featured keynote speakers such as Laura Haldane, co-founder of SciLeads, and Deirdre O’Neill, CCO and Co-Founder of Hertility, who shared their experiences of raising funds and scaling up their businesses.

Deirdre O’Neill described the event as a valuable opportunity for early-stage firms to gain insights from other founders, network, and connect with investors. She expressed her satisfaction in sharing her experiences of raising capital and scaling up Hertility, aiming to inspire new start-ups to elevate their businesses to the next level.

The event painted a promising picture for the future of small businesses, as it provided a platform for entrepreneurs to gain access to vital funding and connect with potential investors. It is heartening to see the concerted efforts being made to support SMEs and foster an environment where they can thrive and contribute significantly to the economy. The commitment of organisations such as InterTradeIreland, combined with the enthusiasm of entrepreneurs and the collaboration of investors, bodes well for the continued growth of innovative and ambitious enterprises.