Enterprise NI Focuses On Corporation Tax

The voice of enterprise needs to be heard clearly in the clamour of the current discussion of initiatives to stimulate growth in the private sector, according to the new chairman of Enterprise Northern Ireland.

Sandy Smith (pictured) made this call, as he becomes the first independent Chairman of Enterprise Northern Ireland, the membership organisation for the local enterprise agency network in Northern Ireland.

He said that although corporation tax is a key issue and of vital importance to economic growth, it should be viewed as part of a package of measures designed to stimulate the economy and to promote enterprise as a central strand.

Mr Smith said: "A unique opportunity now exists to prioritise the four or five initiatives that will act as game changers for the local economy. The business community has already expressed collective support for the change in legislation to allow the Northern Ireland Assembly to vary the rate of corporation tax through the current consultation process.

"The momentum generated in support of this issue now needs to be harnessed to look at ways to rebalance the Northern Ireland economy," he said.

"Enterprise Northern Ireland has called for a range of measures to be encapsulated in the Government's Enterprise Strategy to support business incubation and innovation. We would also like to see economic development budgets that are currently available being allocated equally to Enterprise, in the form of supporting the start of new businesses, the growth of indigenous businesses and the promotion of FDI.

"Enterprise Northern Ireland and the local enterprise agencies have a significant role to play in creating the new economy for Northern Ireland, and one that places enterprise at its core."

Sandy Smith who served as Joint Director General of the International Fund for Ireland for eight years and who takes over from outgoing ENI chairman Ken Nelson, said that he aims to build on the significant work that has taken place to assist small businesses in Northern Ireland, adding: "Over the past eight years Enterprise Northern Ireland members have developed over two million square feet of managed workspace accommodating over 3,000 enterprises.

"In addition, over 20,000 new business start ups have been delivered for Invest NI through the Go For It programme and our loan fund has supported over 1,000 business owners through loans totalling over £6 million.

"We aim to build on this work over the months and years ahead," he said.

Enterprise NI Chief Executive, Gordon Gough, added: "Sandy has been a great supporter of small businesses and the local enterprise agency network through his role in the International Fund for Ireland. As our first independent chairman he will bring a wealth of experience and international contacts which will help Northern Ireland plc develop a co-ordinated approach to small business support."

Enterprise Northern Ireland delivers a number of programmes to assist small businesses and social enterprises.

The Social Entrepreneurship Programme (SEP), delivered on behalf of Invest NI, has produced 130 social enterprises in the past two years and over 200 jobs.

More recently, the Exploring Enterprise Programme, provided in partnership with the Department of Employment and Learning (DEL) has enabled 450 participants to gain certificates in business enterprise and to explore employment opportunities.

The cross-border Tradelinks Programme for promoting micro business growth, delivered on behalf of SEUPB, has helped around 900 businesses to improve export sales.

Through these and other programmes, ENI will continue to focus on promoting enterprise and economic growth.

Unionists

Earlier this week, the Ulster Unionist Party Leader Tom Elliott reminded the public that tomorrow (Friday 8th July) is their last chance to submit their views on the Corporation Tax debate.

"The Ulster Unionist Party has made our submission supporting the devolution of Corporation Tax varying powers to the Northern Ireland Assembly.

"We believe that lowering the rate of corporation tax in Northern Ireland could be the stimulus needed to sufficiently strengthen the private sector and create the additional jobs which are needed to fill Northern Ireland's productivity deficit.

"Given the dependency that our economy currently places on funding from the public service, we feel that it will take direct, interventionist actions from the Northern Ireland Executive to encourage new inwards investment and the job creation which would subsequently flow from it," he said.

"Whilst the devolution of these powers is not the final solution to our economic problems, it is a means to an end.

"We believe that the NI Assembly having the power to set our own level of Corporation Tax is the best way to rebalance our local economy.

"The Corporation Tax debate is vital to the future of our local economy and therefore I hope that everyone will take this opportunity to have their say," he concluded.

See: Ritchie Still Pushing for Corporation Tax Slash

(BMcC/GK)