EUROPEAN UNION Removed economic borders Investment Brought countries and parties together
Newry’s location: 2.5 million consumers within 100km
Transformation Factor Self Help & entrepreneurial culture
Highest rate of self employment in UK Many micro-enterprises (4,055) – higher 5 year survival rate than NI or UK average A high concentration of successful locally owned export-focused businesses that could provide a blueprint for the rest of Northern Ireland Commitment to self-improvement through education Entrepreneurial Spirit
Globally successful locally-owned businesses across a range of sectors Norbrook Laboratories (pharmaceuticals) Glen Dimplex (electronics) MJM (specialist fit out) First Derivatives (financial software) Parker Green International (property)
Entrepreneurial Spirit Newry was a ‘frontier’ location during the troubles – little or no public or private investment in its economy Self-help, especially self employment, became a way of life for many in Newry. Trading back and forth across the border was second nature
Working in Partnership locally, regionally, nationally, internationally Newry & Mourne Co-operative and Enterprise Agency Newry Credit Union Giving the working class access to finance SELF HELP Community Associations across Newry
INWARD INVESTMENT N./R.Ireland = English-speaking N./R. Ireland = Young well-educated pop’ Attractive base for US multinationals (Irish-American links) R.Ireland = Euro R.Ireland = Low business tax (two thirds less than UK) N./R. Ireland = Small (a little inward investment makes a big difference)
The effects of the RECESSION : Unemployment Lower wages Restricted bank lending Austerity measures Loss of confidence
Entrepreneurship is the route out of Recession.... The solution to the economic crisis.... at a time when banks have no funds, governments are making cuts and big businesses are contracting not expanding...... lies with people turning to their ‘inner entrepreneur’ to create their own opportunities...... their own ‘Work In Newry’ (WIN).......
- Being an ‘entrepreneur’ doesn’t mean you have to start your own business. - It’s a way of thinking.... - Many people who don’t work for themselves are recognised as ‘entrepreneurs’ within their organisations
A ‘social entrepreneur’..... Conor Patterson Newry & Mourne Co-operative and Enterprise Agency
Real life entrepreneurs You will now break into groups of 10 and visit local entrepreneurs who run their businesses from WIN Business Park on a daily basis Please ask these entrepreneurs plenty of questions as they are the experts!