Northern ireland economic strategy comprehensive action plan


THEME C: ENCOURAGING BUSINESS GROWTH



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THEME C: ENCOURAGING BUSINESS GROWTH


No.

Objective

Action

Responsible Organisation

Timescale

C1

Stimulating investment, promoting employment

Promote 6,300 jobs in locally owned companies, with 50% paying salaries above the NI private sector average.

DETI/Invest NI

March 2015

C2

Secure £400m investment commitments reflecting growth of local businesses, securing £120m in additional wages & salaries.

March 2015

C3

Introduce extension of Small Business Rate Relief Scheme to 2015.

DFP

2012

C4

Support the development of the ‘One Plan’ to promote 4045 jobs (by ILEX and key partners in the public, community and private sectors).


OFMDFM/DSD

2015

C5

Promote entrepreneurship


Promote 6,500 jobs through business start, which includes a new Business Start Programme (BSP) focusing on identifying new entrepreneurs with local business start ideas, and facilitating business plans.


DETI/Invest NI


March 2015



C6




Develop, in partnership with Councils, enterprise led initiatives targeted toward increasing the capability of a wide business base, in terms of marketing, management, skills, networking, product development and other key capabilities.

DETI/Invest NI/Councils

March 2015

C7

Improve access to Finance

Enable 300 SMEs to access funding through Invest NI’s Access to Finance Strategy. This includes equity through the NISPO, Co-investment and Development funds and debt through the £50m Growth Loan Fund.
Invest NI is also investigating the need for a further small loan fund aimed at micro enterprises as well as SMEs.


DETI/Invest NI


March 2015

C8




Secure the maximum financial and non-financial support available for growing the NI economy by engaging effectively with the European Union to maximise the level/range of EU funding accessed.
Facilitate delivery of the Executive’s 20% target for increased drawdown of competitive EU funds

DETI and other Departments

OFMDFM and all Departments



March 2015

C9




Develop a European Regional Development Fund (ERDF) 2014-2020 programme to include actions supporting R&D and Innovation, business competitiveness and growth, climate change and environment, telecommunications, energy and transport infrastructure.

DFP, DETI and other Departments

March 2014

C10

Encouraging social enterprise as part of the wider “encouraging entrepreneurship” agenda

Introduce a new Social Entrepreneurship Programme to support 160 Social Economy start ups, with 25% having capability to move to mainstream Invest NI support.


DETI / Invest NI

 March 2015

C11




Develop the Executive’s Social Economy Action Plan – as part of the wider Enterprise Strategy – to support the development and sustainability of the social economy sector

DETI in partnership with stakeholders and relevant departments

March 2012

C12




Invest in Social Enterprise growth to increase sustainability in the voluntary and community sector.


  • Develop a policy framework for Community Asset Transfer and implement across Government to provide an asset base for social enterprise growth.




  • Provide opportunities to support social enterprise growth.

DSD

March 2015

C13

Increase size and contribution of the Green Economy

MATRIX will conduct an analysis of major future Sustainable Energy Market Opportunities and bring forward recommendations.
Deliver a programme of activities to promote the uptake of resource efficient technologies in local business.
Deliver a programme of activities and support to promote the growth of indigenous businesses in wind, marine and bioenergy supply chains.
Stimulate and attract inward investment related to renewable energy by promoting NI as a European hub in the international market.


DETI / Invest NI

March 2015

C14

Delivery of an integrated programme of measures to support the development of the land based renewable energy sector encompassing:


  • Completion of a suite of R&D programmes and projects;




  • Delivery of a programme of knowledge and technology transfer to the agri-food and rural sectors;




  • Support for supply chain development; and




  • Completion of a capital grant investment programme aimed at developing farm and forestry renewable energy from biomass.




DARD / AFBI

March 2015

C15

Encourage & develop rural businesses

Diversification into non-agricultural activities targeting 600 beneficiaries.


DARD



March 2013



C16

Support for Business Creation and Development by supporting 1,200 micro-enterprises, of which 20% should be new.


March 2013



C17

Encouragement of tourism activities by supporting 300 tourist actions.

March 2013



C18

Support agricultural business development through participation in the Benchmarking Programme – targeting 1,800 benchmarks and development plans on an annual basis.

March 2015

C19

Progress the development of the 2014-2020 Rural Development Programme aiming to have a new Programme developed, agreed with the EU Commission and in place for 2014.

January 2014

C20

Promote business growth through tourism to help increase visitor numbers to 4.2m and revenue to £676m by end 2014 from a baseline of 3.3m and £529m in 2009



Provide financial and other support across government to maximise the opportunities presented by ni2012 ‘Our Time Our Place’ initiative. ni2012 will deliver a number of world class events to provide the shop window including:


  • Centenary of Titanic’s Maiden Voyage;

  • Arrival of Clipper Round the World Yacht Race to Derry/Londonderry;

  • Opening of Giant’s Causeway Visitor Experience;

  • 50th Belfast Festival at Queen’s; and

  • The opening of the Crumlin Road Gaol visitor and conference centre.

DETI/NITB/TI and Other Departments

2012

C21

Host the World Police and Fire Games (WPFG) 2013, to attract 10,000 competitors and 15,000 visitors from outside NI; 180,000 bed nights over the 10 days of the 2013 WPFG.

DCAL



2013 

 


C22

Provide financial and other support across government to maximise the tourism opportunities presented by Derry/Londonderry being City of Culture 2013 including:

  • Develop a Creative industries hub at Ebrington;

  • Support to double visitor numbers to the City and visitor spend in 2013/14; and

  • As a legacy of the City of Culture host a significant international event by 2015

OFMDFM/DCAL/DSD/

DETI / NITB /TI




2013/14


C23

Successfully host the 2012 Irish Open

DETI/NITB

July 2012

C24

Support the skills needs of the tourism and hospitality sector by designating it as a priority area and providing £255,000 to assist 1500 staff in hospitality and tourism achieve the Level 2 World Host qualification.

DEL

2011/12

C25

Modernise the planning system

Legislate to reorganise local government including the transfer of planning powers to councils.

DOE

2013

C26

Publish a single, strategic planning policy document which will clearly address how economic considerations should be taken into account within the planning system along with social and environmental considerations.

DOE

2013

C27

Deliver faster and more predictable processing of planning applications, including ensuring 90% of large scale investment planning decisions are made within 6 months and applications with job creation potential are given additional weight.

DOE

2015

C28

Improve the regulatory environment in NI through the NI Better Regulation Forward Work Programme and key strategic reform initiatives in DARD, DEL and DOE

Establish a Regulatory Reform Group to develop a Simplification & Rationalisation Programme for regulations on the NI statute book.

DETI supported by all Departments

2012

C29

Review the Regulatory Impact Assessment and put in place new guidance for policy makers to support them in making better regulation.


DETI

March 2013

C30

Develop proposals for primary legislation to improve environmental regulation and reduce the regulatory burden on businesses.


DOE

2015

C31

Implementation of the DARD Better Regulation Action Plan to reduce the administrative burden placed on agri-food industry.

DARD

December 2013

C32

Carry out research to establish the difficulties faced by SMEs in discharging their employment rights/relations responsibilities and determine what cost-effective support measures can be put in place to address identified challenges.

DEL

December 2012

C33




Undertake a review of Northern Ireland employment law, consistent with Better Regulation Principles, with the aim of ensuring an effective employment law framework which will stimulate business confidence while maintaining the rights of individual employees.




2015




C34

Encouraging Business Growth

Continue to support local businesses to develop linkages with globally competitive companies and research organisations, taking account of the MATRIX market and technology priority areas.

DETI/Invest NI

Ongoing




C35

Further develop the Venture Capital (VC) market in NI, by developing ways of increasing the level of investments from externally based VC companies into NI companies.

DETI/Invest NI

Ongoing




C36

Develop a 2014-2020 Rural Development Programme (co-financed from the EU) that supports economic growth in NI through measures addressing innovation, knowledge transfer, improved competitiveness and job creation in rural areas.

DARD

Ongoing




C37

Support the tourism sector, focusing investment on strategically significant areas including developing the capability of the industry and the quality of the visitor experience and delivering sustained marketing programmes to priority customers with a view to delivering £1bn in visitor revenue and 4.5m visitors by 2020.

DETI/NITB

Ongoing





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