Menu
02/12/2003
More business start ups needed says Minister
If Northern Ireland is expected to have a successful economy, more people need to set up in businesses.
This was the message from Enterprise Minister, Ian Pearson who was addressing members of the Institute of Chartered Accountants in Ireland, at their Annual Dinner in Belfast on Monday evening.
“New business formation is important in any economy, but particularly in Northern Ireland where the level of entrepreneurial activity is among the lowest in the UK," the Minister said.
“Together we can reverse that position and turn entrepreneurship into one of our strongest assets.
“Finance is, of course, a central element in stimulating enterprise and the wealth creating process. Venture capital activity is still less than half of what it should be based on our share of UK GDP and improving that position is a key priority for government.”
Turning to changes underway in the regulation of the accounting industry, Mr Pearson said: “Internationally agreed accounting standards will become compulsory for the consolidated accounts of publicly traded companies from January 2005.
“The Queen’s speech confirmed Government’s commitment to introduce the Companies (Audit, Investigations and Community Enterprise) Bill, designed to strengthen the current regulatory system and ensure investor confidence.
“For small companies there is also the potential for legislation to increase the current thresholds for disclosure and for increasing the requirement for audit to companies with a turnover of less than £5.6 million."
Concluding, the Minister said: “The Northern Ireland Economy has come a long way over the past few years. It has strong future growth potential. I am confident that if we continue to work in partnership we can ensure that it is the fastest growing region in the UK up to the end of this decade, and hopefully beyond."
(MB)
This was the message from Enterprise Minister, Ian Pearson who was addressing members of the Institute of Chartered Accountants in Ireland, at their Annual Dinner in Belfast on Monday evening.
“New business formation is important in any economy, but particularly in Northern Ireland where the level of entrepreneurial activity is among the lowest in the UK," the Minister said.
“Together we can reverse that position and turn entrepreneurship into one of our strongest assets.
“Finance is, of course, a central element in stimulating enterprise and the wealth creating process. Venture capital activity is still less than half of what it should be based on our share of UK GDP and improving that position is a key priority for government.”
Turning to changes underway in the regulation of the accounting industry, Mr Pearson said: “Internationally agreed accounting standards will become compulsory for the consolidated accounts of publicly traded companies from January 2005.
“The Queen’s speech confirmed Government’s commitment to introduce the Companies (Audit, Investigations and Community Enterprise) Bill, designed to strengthen the current regulatory system and ensure investor confidence.
“For small companies there is also the potential for legislation to increase the current thresholds for disclosure and for increasing the requirement for audit to companies with a turnover of less than £5.6 million."
Concluding, the Minister said: “The Northern Ireland Economy has come a long way over the past few years. It has strong future growth potential. I am confident that if we continue to work in partnership we can ensure that it is the fastest growing region in the UK up to the end of this decade, and hopefully beyond."
(MB)
Related Northern Ireland News Stories
Click here for the latest headlines.
23 March 2011
Deloitte Announces Plans To Create 125 Jobs
Financial services company Deloitte has announced plans to create 125 jobs in Belfast over the next two years, Enterprise Minister Arlene Foster has announced.
Deloitte Announces Plans To Create 125 Jobs
Financial services company Deloitte has announced plans to create 125 jobs in Belfast over the next two years, Enterprise Minister Arlene Foster has announced.
13 February 2003
Economy in good position says Kennedy
NIO Minister Jane Kennedy has told delegates at today’s Labour Relation’s Agency (LRA) conference in Belfast that the economy is in a "better position than many other parts of Great Britain". During the meeting, Ms Kennedy highlighted what she described as "the positive improvements" in the Northern Ireland economy over the past decade.
Economy in good position says Kennedy
NIO Minister Jane Kennedy has told delegates at today’s Labour Relation’s Agency (LRA) conference in Belfast that the economy is in a "better position than many other parts of Great Britain". During the meeting, Ms Kennedy highlighted what she described as "the positive improvements" in the Northern Ireland economy over the past decade.
22 January 2003
Social economy is untold success story says Pearson
At a conference yesterday, NIO Minister Ian Pearson praised the voluntary sector for its input into Northern Ireland's thriving social economy as an "untold success story".
Social economy is untold success story says Pearson
At a conference yesterday, NIO Minister Ian Pearson praised the voluntary sector for its input into Northern Ireland's thriving social economy as an "untold success story".
31 May 2002
Farren says ‘Ireland means business’
The opportunity for lucrative cross border trade between businesses North and South must be regarded as a priority for companies throughout Ireland, the Minister of Finance & Personnel, Dr Seán Farren, told guests attending a prestigious awards ceremony in Belfast.
Farren says ‘Ireland means business’
The opportunity for lucrative cross border trade between businesses North and South must be regarded as a priority for companies throughout Ireland, the Minister of Finance & Personnel, Dr Seán Farren, told guests attending a prestigious awards ceremony in Belfast.
05 August 2008
NI Can 'Weather The Storm' Says Economy Minister
A new Government report has insisted the Northern Ireland economy is well placed to "weather the storm", despite challenges facing the business community. The report, published by the Department of Trade and Enterprise, suggested NI businesses trading in US and European markets are feeling the impact of the global economic slowdown.
NI Can 'Weather The Storm' Says Economy Minister
A new Government report has insisted the Northern Ireland economy is well placed to "weather the storm", despite challenges facing the business community. The report, published by the Department of Trade and Enterprise, suggested NI businesses trading in US and European markets are feeling the impact of the global economic slowdown.
-
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.
