The creation of institutions to link Northern Ireland with the Irish Republic has greater appeal to Ulster companies than to their counterparts in the south - despite the fears of many unionist politicians that such structures will form the embryo for a future all- Ireland government.
The apparent open-mindedness of Ulster companies to the sensitive issue of cross-border bodies is one of the more surprising findings of a survey of business attitudes conducted by PA, the business consultants, in the wake of the referendums endorsing the Good Friday peace settlement.
The survey, published today, finds nearly half of the Northern Ireland companies surveyed said such north-south bodies would be 'important' or 'very important' for their business prospects compared with 40 per cent in the republic.
The study, conducted within three days of the historic Yes vote, provides a snapshot of corporate opinion, and underscores the business community's confidence that the political deal will increase the attractions of Northern Ireland and the Irish Republic as places to invest and do business.
Drawing on interviews with chairmen and executives in 62 of Northern Ireland's top 100 companies - 81 of the top 300 responded in the republic - PA found that the majority of companies were confident about the future. However, only a quarter of them were prepared to 'underpin this confidence with increases in investment and jobs'.
Many companies said they would wait to see how the new political arrangements - particularly elections to the power-sharing assembly, on June 25 - provided solutions to Northern Ireland's deep-seated problems. Asked what they thought about government spending priorities, Ulster companies cited the need for tax incentives, while those in the republic wanted to see more funding for training, and both wanted to see more money earmarked for infrastructure.
The Yes vote is expected to have a greater short-term impact on Ulster business than on the republic.
However, only 25 per cent said the agreement would encourage them to make new investments. The Ulster companies surveyed said they were planning Pounds 17m worth of investments, while companies in the republic said that they would expand investments by Pounds 70m. On the island as a whole, 23 per cent of companies said they would increase their workforces as a result of the agreement, with the creation of an additional 7,000 jobs.
But the survey also underscored that companies on both sides of the border share much the same concerns, listing 13 key areas where the agreement could benefit both economies.
Some - such as the potential for increased inward investment and tourism receipts, and the aid flows likely to come from the US and the European Union - relate to the changed international perceptions of the island.
Others are more local issues - such as increased labour mobility as workers feel more comfortable taking employment across the proverbial peace line. PA says many companies believed stability would be an incentive for people to stay in Ireland. This is an age-old problem, characterised by large numbers emigrating for work. In Northern Ireland, a particular concern is young Protestants attending mainland UK universities and not returning.
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