Presentation on theme: "Public to Private sector transition… or… Creating an economy in which business can thrive! Richard, Andrew, Colin, David, Paul, Amanda, Darren, Sarah,"— Presentation transcript:
Public to Private sector transition… or… Creating an economy in which business can thrive! Richard, Andrew, Colin, David, Paul, Amanda, Darren, Sarah, Sinead, Martin, Pascal, Declan, Eoin & Tim.
What did we talk about? Ourselves… – Who we are – What we do – Where we are going – What is in the way – How could public sector help business
What else did we talk about? The public sector… – Secure salaries, career progression – Attractive to much graduate top talent, but not recuiting – Dead mens shoes – Risk aversion – Frustration – Only 1/3 know what Matrix is – We are too reliant – The bits for biz are all there, but where is front door? – Its not us & them – we need to work together.
Where are we going? Raising money Business up & running Establish science park First revenues Set up new business New products Business x5 Reclaim £1m client tax Build team, launch Into pre-clinical studies License agreements Led fibre adoption Opening public market Build green market Market leadership Economic action plan
Whats in the way? Nothing in the way… … but not adding value Red tape, bureaucracy Lack of working capital Audits, audits, audits Cost of doing business Public sector lethargy Lack of biz empathy Public sector apathy Complex procurement Poor service to public Private skills shortage Public skills plentiful Corporation tax Paying slowly
What are we need to do? Need to take away the public sector safety net Change from cost to profit centres – corp tax Public sector needs to buy indigenous innovation Start Up / co-working space in the centre of cities Need a knowledge hub for business advice/support Better trade & market intelligence from Invest NI Need a small business loan fund (like student fund)