THE Northern Ireland Independent Retail Trade Association (NIIRTA) has rebranded itself as Retail NI as it launched its Programme for Government.
Entitled "Creating a Northern Ireland Economic Powerhouse", the blueprint sets out several key recommendations for the future Stormont Executive in order to strengthen, support and grow the retail sector in the north.
And accompanying the plan was a survey of Northern Ireland retailers which highlighted some startling levels of hardship facing their businesses, with half of small firms reducing staff numbers due to red tape, and rates increases, the introduction of a national living wage and auto-enrolment pensions contributing towards a "perfect storm".
The survey found that 91 per cent of independent retailers saw their costs rise in the last year, leading 75 per cent to report that the will be reducing the level of investment in their business as a result.
Also, 71 per cent saw their rates increase in the last year, while 81 per cent of those surveyed believed that the overall level of regulation in the north is an obstacle to their success.
The key recommendations detailed in the programme included the implementation of a new targeted rates relief scheme put forward by Retail NI and Hospitality Ulster last year, which will provide more than £22 million in relief for businesses in the region.
A 'Better Regulation Strategy' is also proposed to remove unnecessary red tape impacting businesses, and also the implementation of several new Enterprise Zones.
Opening the launch event at Titanic Belfast, retail consultant Hugh Black asked: "What is Stormont giving back to us retailers for these rates that they are charging us?"
Nigel Maxwell, chairman of Retail NI, said their needed to be a shift in focus towards "addressing the high cost of doing business in Northern Ireland".
Glyn Roberts, chief executive of Retail NI, in his keynote speech to more than 150 business leaders and elected representatives, said that business rates increases, the national living wage and auto enrolment pensions had created "a perfect storm of cost issues" facing retailers in the north.
"This is a major wake up call to political leaders in Stormont and Westminster that things have to change," he added.
"Retail NI will work with MLAs to establish an assembly All Party Group on retail to ensure our sector’s policy priorities are front and centre at Stormont.
"Under the new identity of Retail NI we will continue to drive forward the debate on the future of our town centres, digital high streets and also as a key partner for growth in a new 21st century private sector-led Northern Ireland."
