Presentation on theme: "Boosting Business Noel Hegarty Invest Northern Ireland."— Presentation transcript:
Boosting Business Noel Hegarty Invest Northern Ireland
Invest NI works directly with those manufacturing and tradable services businesses in Northern Ireland which have the potential and ambition: to export; to improve productivity; to become more internationally competitive; Attract high quality inward investment; Invest NI Corporate Plan Invest NI – Role and Remit
Many business owners face a range of challenges: Banks are attempting to tidy up their credit portfolios. Continuing economic decline resulting in reduced demand for products and services. Upward trend in insolvencies and bankruptcies. Many businesses with investment plans lack the confidence to implement them. This has impacted on Invest NI’s Work in Progress and budget drawdown. Issues
Comprehensive review of our existing products and services. Consideration given to new products or services. Actions have been quickly implemented under a number of themes: 1.Boosting Business Through Jobs 2.Boosting Business Through Exporting 3.Boosting Business Through Research and Development 4.Boosting Business Through New Technology 5.Boosting Business Through Skills Invest NI Response
The campaign will be branded Boosting Business with individual treatments for each element Campaign Overview
The Jobs Fund Measures Measure Promoted Jobs Created Jobs Grant for Business Starts in Neighbourhood Renewal Areas (NR) 1,500 2.Increased Support for Social Enterprise340 3.Grant for Business Start to Young People Not in employment, education or training (NEETS) Business Growth Programme (Export Starts, Global Starts & Existing Businesses) Jobs Fund SFA employment grant support across a range of sectors including Contact Centres, Food Processing and Knowledge Process Outsourcing 3,1001, Employer Subsidy (DEL) Total Budget £18.83m5,3704,000
Manufacturing and Tradable Services businesses Normal Invest NI Client Eligibility Criteria Applies Projects where Median Salary (mid point) is below the Private Sector Median of £18,283 Employment Grant paid out in one instalment after 1 month Jobs must be sustained for 5 years The Jobs Fund – SFA Employment Grant Annual Basic Wage (£)Maximum Employment Grant (£) Small Medium Large < £13,999Up to £3k, £3k £3k per new job £14,000 – £15,999Up to £5k, £4k £4k per new job > £16,000Up to £7k, £6k £5k per new job
Established Businesses – manufacturing and internationally Tradable Services – capability to grow in export markets Businesses have or within 3 years will achieve: –sales of over £100,000 per annum; and –external sales (i.e. outside Northern Ireland) greater that 25% of turnover or greater than £250,000 per annum For service-type businesses: –knowledge intensive with a minimum gross margin of 20%. (Generally excludes locally focussed businesses, Retail, Primary Agriculture, Wholesale/Distribution) Invest NI Eligibility Criteria
Boosting Business through Exports Already ImplementedProposed In Market Support – Trade Advisors in Brazil, Canada, China, Dubai, Germany, India, Russia, South Africa, Saudi Arabia, West Coast USA, London (construction) Increased contribution to explore markets additional days in market, while on a Trade Mission, to visit other regions. funding for return market visits between missions. free market research for first time visit to international market. Key Exhibitions support (Solex) Inward missions – assistance for groups of buyers visiting NI Reviewing options to provide legal support for advice on export contracts and translations services. Appoint a specific resource to drive supply chain and FDI opportunities for the renewables sector. Road show on export financing options (UKTI/ECGD/Banks/Invest NI).
Boosting Business through R&D Already ImplementedProposed Enhanced R&D ‘Open Call’ for small businesses (<50 employees) Market driven R&D ‘Open Call’ in small/ medium sized businesses Roll-out YIE (Young Innovative Enterprise Support) which could offer up to £1.25 Million over a three year period to high technology companies under 6 years old with R&D intensity of over 15% of turnover.
Boosting Business through Technology Already ImplementedProposed Broaden and enhance technical support on project support from £3,000 to £5,000. On TDI increasing the maximum project cost eligibility from £10,000 to £15,000. Innovation Voucher pilot call for Food Sector to invite applications. Review eligibility criteria with a view to broadening. Introduce IP starter pack and enhanced IP support (to be launched 6 Dec) Increase commercialisation support for companies post research, product development and innovation activities. Widen scope of MIS Scheme to fund additional elements. Website support for companies that can demonstrate export potential within wider business base alongside internet marketing programme. From , delivery of a new capital grant scheme to support installation of water and material efficient processes and equipment.
Boosting Business through Skills Already ImplementedProposed Consultancy and Mentoring support for SMEs at support rate of 49%. Software Testers Academy Roll out enhanced management and leadership support. Provision of higher support levels for BITP (Cross Training, New Skills Development) Launch of BITP 2 (High Quality, High Value Added Growth Projects). Capital Markets Network – Post-graduate Training Initiative
Sources Available Training Support Intervention
Business Improvement Training Programme BITP Introduction Invest NI's Business Improvement Training Programme (BITP) can help you improve your business performance by providing advisory and financial support for training and development activities. The programme is aimed at improving company competitiveness through raising the skill levels of your managers and workforce. How will it help me? By improving the skills of managers and employees your business can: Increase productivity; Improve products and services; Reduce waste and overheads; Increase profit and turnover; and Have a more flexible and motivated workforce.
Intervention - Invest NI Lean Advisors – Train and mentor company champion on specific projects Two day Lean Workshop Value Stream Mapping Ongoing support throughout project HR Advisors – provide expert advice and guidance on: Recruitment issues Disciplinary issues Performance Management issues Leadership issues People Solution Workshops
Intervention - External Non-Executive Directors This initiative allows businesses to access and benefit from the vast intellectual capital resources of experienced and independent non- executive directors. Interim Manager This programme allows you to hire an experienced manager on a short- term contract to tackle a specific business issue or problem Questions?