Menu
05/08/2003
NIBSP could help create 13,000 new jobs say PwC
Over 13,000 jobs could be created over the next four years if the Northern Ireland Business Start Programme (NIBSP) continues at its current rate of business creation.
This is according to the findings of research recently carried out by management consultants PricewaterhouseCoopers (PwC) as part of their ongoing evaluation of the programme.
The programme, which is funded by Invest Northern Ireland, in partnership with the 26 district councils and the European Regional Development Fund, provides a package of training and mentoring assistance to potential entrepreneurs, targeting the local market place.
Figures released PwC reveal that the NIBSP is significantly ahead of its target for business creation, is highly rated by participants, and is having a positive effect on the economy.
If this continues the programme could help to create approximately 8,000 new businesses, which would generate some £270 million to the local economy, thus creating the 13,000 jobs.
Professor Terri Scott, Managing Director of Entrepreneurship and Enterprise in Invest NI, says that the evaluation highlights the very tangible benefits of the programme in terms of both set-up assistance and contribution to the survival of new businesses.
“The ongoing support and mentoring offered by the programme is a key element in its success. The first year of trading is crucial for any business and the review demonstrated that over 90% of businesses surveyed remained trading after one year.
“This reflects Northern Ireland’s high business survival rate overall, which outstrips all other UK regions. The survival of these new businesses will be monitored throughout the life of this programme."
Launched in September 2001 the programme has, in 21 months, helped to support more than 3,300 individuals into new business ventures and is currently 56% ahead of target.
The PwC research revealed that 69% of those taking part in the programme felt that it enabled them to establish their business faster than they otherwise would have done, while 81% felt that the NIBSP enabled them to set up a better business, through assistance with business plans and market research.
The NIBSP has been designed to support both full and part time new business ventures. It offers training and IT support, help to access finance, and a free advisory service during the first year of trading.
The training provides practical advice on key areas of running a business including marketing, personnel and legal issues, and finance.
(MB)
This is according to the findings of research recently carried out by management consultants PricewaterhouseCoopers (PwC) as part of their ongoing evaluation of the programme.
The programme, which is funded by Invest Northern Ireland, in partnership with the 26 district councils and the European Regional Development Fund, provides a package of training and mentoring assistance to potential entrepreneurs, targeting the local market place.
Figures released PwC reveal that the NIBSP is significantly ahead of its target for business creation, is highly rated by participants, and is having a positive effect on the economy.
If this continues the programme could help to create approximately 8,000 new businesses, which would generate some £270 million to the local economy, thus creating the 13,000 jobs.
Professor Terri Scott, Managing Director of Entrepreneurship and Enterprise in Invest NI, says that the evaluation highlights the very tangible benefits of the programme in terms of both set-up assistance and contribution to the survival of new businesses.
“The ongoing support and mentoring offered by the programme is a key element in its success. The first year of trading is crucial for any business and the review demonstrated that over 90% of businesses surveyed remained trading after one year.
“This reflects Northern Ireland’s high business survival rate overall, which outstrips all other UK regions. The survival of these new businesses will be monitored throughout the life of this programme."
Launched in September 2001 the programme has, in 21 months, helped to support more than 3,300 individuals into new business ventures and is currently 56% ahead of target.
The PwC research revealed that 69% of those taking part in the programme felt that it enabled them to establish their business faster than they otherwise would have done, while 81% felt that the NIBSP enabled them to set up a better business, through assistance with business plans and market research.
The NIBSP has been designed to support both full and part time new business ventures. It offers training and IT support, help to access finance, and a free advisory service during the first year of trading.
The training provides practical advice on key areas of running a business including marketing, personnel and legal issues, and finance.
(MB)
Related Northern Ireland News Stories
Click here for the latest headlines.
19 February 2010
Small Businesses Get 'Secure' Opportunity
An innovation that is being billed as a unique business opportunity for Small & Medium Enterprises, (SMEs) and the civil security industry across all of Ireland has been launched.
Small Businesses Get 'Secure' Opportunity
An innovation that is being billed as a unique business opportunity for Small & Medium Enterprises, (SMEs) and the civil security industry across all of Ireland has been launched.
02 April 2004
Invest NI assists 5,000 business starts ups in two years
Invest NI has secured commitments of £1 billion and assisted nearly 5,000 new business starts in its first two years, the agency has claimed on its second anniversary. Professor Fabian Monds, Chairman of Invest NI said the agency had played an integral role in helping Northern Ireland adapt to "global market dynamics".
Invest NI assists 5,000 business starts ups in two years
Invest NI has secured commitments of £1 billion and assisted nearly 5,000 new business starts in its first two years, the agency has claimed on its second anniversary. Professor Fabian Monds, Chairman of Invest NI said the agency had played an integral role in helping Northern Ireland adapt to "global market dynamics".
26 November 2024
Other News In Brief
Police Recover Suspected Firearm In Strabane Police recovered a suspected firearm yesterday during a search outside Strabane town in County Tyrone. Detectives from the Police Service's Terrorism Investigation Unit, who are investigating the activities of the New IRA, made the discovery.
Other News In Brief
Police Recover Suspected Firearm In Strabane Police recovered a suspected firearm yesterday during a search outside Strabane town in County Tyrone. Detectives from the Police Service's Terrorism Investigation Unit, who are investigating the activities of the New IRA, made the discovery.
23 July 2004
Business start up programme helps create 8,000 new jobs
Two Mallusk entrepreneurs have set up the 5000th new business to be started through the Start a Business programme, which has generated an estimated 8,250 new jobs across Northern Ireland. Oliver McErlane took part on the programme with business partner Tim Swann, before setting up their electronic marketing company, TxtFlow.
Business start up programme helps create 8,000 new jobs
Two Mallusk entrepreneurs have set up the 5000th new business to be started through the Start a Business programme, which has generated an estimated 8,250 new jobs across Northern Ireland. Oliver McErlane took part on the programme with business partner Tim Swann, before setting up their electronic marketing company, TxtFlow.
19 October 2004
Job boost for Dundonald bath firm
A Dundonald-based firm which specialises in the manufacture of contemporary acrylic baths is to create 13 new jobs thanks to a near £1 million investment.
Job boost for Dundonald bath firm
A Dundonald-based firm which specialises in the manufacture of contemporary acrylic baths is to create 13 new jobs thanks to a near £1 million investment.
-
Northern Ireland WeatherToday:A chilly start with a widespread frost and some freezing fog, any freezing fog slow to clear. Otherwise bright with sunny spells and coastal showers. Light winds. Maximum temperature 6 °C.Tonight:Coastal showers dying out with a widespread frost developing along with freezing fog, which could become extensive. Winds remaining light. Minimum temperature -3 °C.
