Menu
22/11/2011
Workspace Sets £14m Sales Target In Ambitious Growth Plan
One of Northern Ireland’s leading social enterprises, the Workspace Group, has announced an ambitious business plan aimed at achieving sales of £14 million by 2015.
The Draperstown-based company, which recently celebrated its 25th anniversary, has already delivered a 600% increase in turnover inside a decade, rising to £7.6 million by 2010.
Workspace’s new four-year strategic plan aims to significantly increase its activities locally, nationally and internationally, while continuing to champion the role of social enterprise as a significant contributor to the Northern Ireland economy.
Objectives include a continuing focus on increasing business through both organic growth and business acquisition, with at least two new businesses added to the group’s existing five.
Its objectives also include the establishment of a new NI-wide flagship social enterprise and a £1 million Business Equity Investment Fund aimed at small businesses. Workspace also plans to introduce an Energy Services Company with a fund of at least £1 million.
In addition, the group will work to increase provision of industrial space and boost its Workspace Community Fund for local projects to £50,000 per annum.
Workspace also aims to:
Establish Workspace as a ‘Green’ Enterprise Centre for businesses involved in saving energy and sustainability.
Encourage local businesses to increase their corporate social responsibility and impact.
Workspace Group Chairman, Michael McAllister, said: “We are in difficult times. The economic downturn and Government spending cuts are resulting in a greater-than-ever need for our services to stimulate economic prosperity and enhance our local community.
“This strategy recognises the need for enhanced innovation and creativity in terms of responding to ongoing and future market opportunities. The Workspace Group has had significant positive impact on the local area in the past, not least a wages spend of almost £2 million per annum.
“We aim to continue that provision and also to significantly increase our impact in the coming years.”
Workspace, set up to stimulate social and economic regeneration in the Magherafelt area, now employs 117 people working out of five locations in Mid Ulster, as well as from offices in Donegal and Wales.
Profits generated from all business ventures are used to partly or wholly fund non-commercial social projects.
Despite a difficult economic environment, Workspace has continued to deliver growth across all its activities according to Chief Executive Brian Murray, who says the results for the current financial year also look promising.
“We are confident that we will report another strong year with further growth,” he said. “As always, our profits will be re-invested in the local community, in projects such as youth, recreation and after school projects, as well as dozens of other organisations.”
(GK)
The Draperstown-based company, which recently celebrated its 25th anniversary, has already delivered a 600% increase in turnover inside a decade, rising to £7.6 million by 2010.
Workspace’s new four-year strategic plan aims to significantly increase its activities locally, nationally and internationally, while continuing to champion the role of social enterprise as a significant contributor to the Northern Ireland economy.
Objectives include a continuing focus on increasing business through both organic growth and business acquisition, with at least two new businesses added to the group’s existing five.
Its objectives also include the establishment of a new NI-wide flagship social enterprise and a £1 million Business Equity Investment Fund aimed at small businesses. Workspace also plans to introduce an Energy Services Company with a fund of at least £1 million.
In addition, the group will work to increase provision of industrial space and boost its Workspace Community Fund for local projects to £50,000 per annum.
Workspace also aims to:
Establish Workspace as a ‘Green’ Enterprise Centre for businesses involved in saving energy and sustainability.
Encourage local businesses to increase their corporate social responsibility and impact.
Workspace Group Chairman, Michael McAllister, said: “We are in difficult times. The economic downturn and Government spending cuts are resulting in a greater-than-ever need for our services to stimulate economic prosperity and enhance our local community.
“This strategy recognises the need for enhanced innovation and creativity in terms of responding to ongoing and future market opportunities. The Workspace Group has had significant positive impact on the local area in the past, not least a wages spend of almost £2 million per annum.
“We aim to continue that provision and also to significantly increase our impact in the coming years.”
Workspace, set up to stimulate social and economic regeneration in the Magherafelt area, now employs 117 people working out of five locations in Mid Ulster, as well as from offices in Donegal and Wales.
Profits generated from all business ventures are used to partly or wholly fund non-commercial social projects.
Despite a difficult economic environment, Workspace has continued to deliver growth across all its activities according to Chief Executive Brian Murray, who says the results for the current financial year also look promising.
“We are confident that we will report another strong year with further growth,” he said. “As always, our profits will be re-invested in the local community, in projects such as youth, recreation and after school projects, as well as dozens of other organisations.”
(GK)
Related Northern Ireland Business News Stories
Click here for the latest headlines.
13 August 2009
Draperstown Gets Workspace Boost
A new workspace development in Draperstown could create up to 35 jobs and help to stimulate economic growth in the local area. That was the message from Stormont Enterprise Minister, Arlene Foster, when she officially opened the 8,500 square foot development, this week.
Draperstown Gets Workspace Boost
A new workspace development in Draperstown could create up to 35 jobs and help to stimulate economic growth in the local area. That was the message from Stormont Enterprise Minister, Arlene Foster, when she officially opened the 8,500 square foot development, this week.
06 November 2015
Council Hosts 'Small Business Saturday Bus Tour'
Belfast City Council hosted the 'Small Business Saturday Bus Tour' at City Hall on Thursday, 05 November, which is touring the UK to highlight small business success and encourage people to 'shop local'.
Council Hosts 'Small Business Saturday Bus Tour'
Belfast City Council hosted the 'Small Business Saturday Bus Tour' at City Hall on Thursday, 05 November, which is touring the UK to highlight small business success and encourage people to 'shop local'.
17 January 2012
Workspace Buys Energy Firm Therm Tech
One of Northern Ireland's most successful social enterprises, The Workspace Group, has acquired Manchester-based energy-saving technology specialist Therm Tech Limited, bolstering its UK-wide reach and its ability to win even more business in the growing energy-saving sector, it has been announced.
Workspace Buys Energy Firm Therm Tech
One of Northern Ireland's most successful social enterprises, The Workspace Group, has acquired Manchester-based energy-saving technology specialist Therm Tech Limited, bolstering its UK-wide reach and its ability to win even more business in the growing energy-saving sector, it has been announced.
23 November 2009
Hanwood Jobs Boost On Way
Jobs are set to flow from an east Belfast business development. The £2.7 million extension to Hanwood Business Park in east Belfast has the capacity to create scores of new jobs, its backers said.
Hanwood Jobs Boost On Way
Jobs are set to flow from an east Belfast business development. The £2.7 million extension to Hanwood Business Park in east Belfast has the capacity to create scores of new jobs, its backers said.
21 June 2006
70 jobs to be created in Armagh
The opening of a new £1.3 million business in park in Armagh city is expected to create up to 70 jobs. The Armagh Business Park, which was developed by P & B Properties, was opened with the help of EU Peace II funding administered by the Department of Enterprise, Trade and Investment (DETI).
70 jobs to be created in Armagh
The opening of a new £1.3 million business in park in Armagh city is expected to create up to 70 jobs. The Armagh Business Park, which was developed by P & B Properties, was opened with the help of EU Peace II funding administered by the Department of Enterprise, Trade and Investment (DETI).
-
Northern Ireland WeatherToday:A showery start with outbreaks most frequent north of Lough Neagh and through the morning, before dwindling during the afternoon as the northwest breezes ease and brighter spells of weak sunshine prosper. Maximum temperature 8 °C.Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
