SME network group generates €44m

Small business networking organisation BNI generated €43.6m last year, with its Donegal town branch reported as being the most profitable in Ireland or Britain.

The report found SMEs in the south and west of Ireland have seen their profitability increase by 10% due to the referral system that BNI operates.

BNI reported business deals generated and passed from one member to another rose from €38m in 2011 to €43.6m in 2012, with membership remaining largely the same.

BNI’s European head office has put the success of the Donegal town group down to the fact the members are focused on training and have invested in building strong relationships with their colleagues, making it easy to pass referrals to them when the opportunities arise.

Executive director of BNI Ireland South & West Sandra Hart said it had shown that growth is possible when businesses work together.

“Having achieved the record increase in the amount of business these SMEs have generated for one another demonstrates tremendous hope and potential amidst one of the bleakest economic periods we’ve seen in recent years.

“Despite general confidence in business having been devastated, the banding together of local business colleagues, taking a great and personal interest in their respective businesses, has demonstrated a particular success significant to overlook,” she said.

BNI, the world’s oldest and most widespread business networking organisation, present in 48 countries, is celebrating its 15th anniversary in Ireland. Its first breakfast networking meeting took place in Cork in 1998.