Welcome decisions from the Executive
I welcome some of the initiatives announced by the Executive on Monday in the Assembly. Enterprise Northern Ireland, the membership organisation for the 32 local enterprise agencies across Northern Ireland, is well aware of the pressures facing small businesses at this time of global economic recession.
The welcome elements of the package include the continued freezing of industrial rates at 30 per cent and non-domestic rates will be frozen for 2009-2010. Small businesses will welcome the initiative by the Finance Minister to introduce a small business rates relief scheme which will hopefully go live in 2010.
The announcement that a new 10-day prompt payment policy across all departments will be welcome news as many small businesses are suppliers to government.
The establishment by the Economic Development Forum of a sub-group to bring forward recommendations on further steps to assist business is welcome. Enterprise Northern Ireland will welcome an opportunity to engage with them in this process.
The one area that does cause some concern is that DETI has announced an extra 5m in support to assist Invest NI clients only by providing advice and on site support.
While this is to be welcomed, it does not go far enough.
For example, the local enterprise agency network, through its small business units, is home to over 2,000 businesses across Northern Ireland, employing over 5,000 people.
In addition, local enterprise agencies work with around 1,000 established businesses each year; many of these are in need of recession proofing assistance at this time.
Gordon Gough
Chief Executive
Enterprise Northern Ireland
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Friday 25 May 2012
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