LEDU FIGURES SHOW MIXED RESULTS

ACCORDING to recently released End of Year Results from LEDU, the past twelve months have been a period of mixed fortunes in terms of job creation.

Overall, more than 2,700 new jobs have been created, with the fastest rate of job creation among start-up firms - the report reveals that 1,330 new businesses have been set up in the past year - but among existing LEDU companies the rate of employment creation has slowed by almost 40 per cent.

Minister for Enterprise, Trade and Investment, Sir Reg Empey, welcomed the results, describing it as ‘another successful year’ for the small business agency and said that particular gains had been evident where LEDU had directed assistance towards economically disadvantaged areas.

He continued: "The results and the very encouraging growth in external sales amongst LEDU clients, up 10.8 per cent, confirms for us that small business owners are increasingly recognising there is no sheltered home market, and they must look to the global marketplace for extra sales.

"The fact that Northern Ireland’s entrepreneurs are increasingly winning awards for innovation and gaining international recognition for their dogged determination in pursuing deals, is in my mind, indicative of the potential we all possess.”

Since its inception in 1971, LEDU has been offering advice, training and financial support to small businesses throughout the province, in order to assist and enable such companies to overcome barriers to growth. LEDU has developed a wide range of programmes and initiatives to address specific areas of need common to many small businesses at the different stages of growth.

However, at the start of next year, the agency is set to become part of Invest Northern Ireland (INI), with LEDU amalgamating with the Industrial Development Board to create a single economic development ‘super-agency’. (CL)