18 May 2000

LEDU END OF YEAR RESULTS WELCOMED BY INGRAM

Minister of State, Adam Ingram, has this morning welcomed LEDU's End of Year Results for 1999/2000 during which over 3,100 new jobs were created and over 1,200 new businesses set up.

Mr Ingram said: "This has been another successful year for LEDU and for our small businesses which continue to make a significant contribution to the local economy. Despite often difficult trading conditions, particular success has been achieved in high added value niche markets and in the Tradeable Services Sector where over 600 new jobs were created.

"Identifying niche markets and satisfying particular market demands is the way forward for many small companies. Northern Ireland has a long tradition of innovation, enterprise and business success but the world of business and industry is changing rapidly.

"To succeed, small businesses must keep abreast of new technologies which are moving at a blistering pace. I believe there are many potential "McMullan" successes in Northern Ireland.

"A major e-business initiative, 'Leapfrog' highlights the need for all businesses to accelerate their strategic use of ICTs (information

communications technologies). It also stresses the importance of Northern Ireland having a thriving sector creating and developing these technologies. For this to happen, we need to have an environment that supports a knowledge-based economy.

"It is no secret that Northern Ireland has for generations produced world class innovators - talented individuals with bright ideas who were not afraid to use their abilities to develop new products.

"The next generation of entrepreneurs must also get the support and encouragement they need to transform their ideas into enterprise. Those who have been successful in business can act as role models and inspire others with latent talent. These are the people who will help the economy succeed and on whom our future economic security will depend."

For further information on LEDU's figures please contact Nigel Hardy at LEDU's Corporate Marketing, Tel. (028) 9049 1031.