Assisting in the growth of our local economy
Melanie Fitzpatrick business services co‑ordinator, Ortus was joined early in the year by Bob Turner (Left) and Brian Kielt owners of the Zipyard in calling on entrepreneurs to consider franchising.
n addition to the creation and management of affordable workspace, Ortus have developed a range of initiatives which support the start up of new enterprises and the growth of existing local businesses. Since their formation in 1988 they have assisted 4000 clients in the development and growth of their business and helped create a further 1500 jobs. Below they highlight a few of their initiatives.
I Ortus FranchisorTM
programmes have a proven track record in assisting the growth of businesses through franchising. The Franchisor Growth programme aims to help business owners / managers to evaluate franchising as a means for expanding their business. It encourages businesses to evaluate new markets, which could not be feasibly served from their current location; to develop franchising documentation (both legal and operational); and to expand into these new markets by securing franchisees. Alongside this Ortus is encouraging would be entrepreneurs to consider buying a franchise through support on the Franchising Start programme. With Northern Ireland's franchise market now valued at £400m, Ortus believe that franchising could offer the best opportunity for growth and employment through the recession. There are many benefits associated with Franchising a business some of which include:‑
• Provides the opportunity to expand quickly • Expansion is at a relatively low cost and risk
• Assists in finding highly skilled entrepreneurs to join the brand‑ building and growth of your business
• No involvement is required in the day to day management of these businesses; therefore the Franchisor can concentrate on other expansion options.
With the establishment of their new initiative, Enterprise Investment Scheme (EIS), Ortus aim to assist businesses to prosper through attracting investment. The enterprise investment scheme is a tax incentive for investors who invest in typically early stage risky businesses who have real growth potential. Seamus OʼPrey, General Manager, commented ʻthere remains an untapped market of dynamic start up and existing companies who cannot graduate to the size that is likely to attract normal equity fund attention. In an environment where state aid rules have reduced grants, there remains a greater dependency on equity finance. Firms who have excellent commercial potential but lack sufficient security to secure debt finance would normally fail in gaining equity finance. EIS provides necessary tax incentives to attract investment into the business. It is a vital fund raising vehicle for SMEʼs in Northern Irelandʼ.
The tax benefits for the investor: • Deferral of Capital Gains Tax on unlimited amounts provided the EIS investment is made up to one year before or three years after the precise date of your gain. • 20 per cent upfront income tax relief on the first £500,000 p.a. invested in any single tax year.
• Future capital gains from the investment free of capital gains tax up to the investment level of £400,000p.a. Provided the investment is held for at least three years.
• Unlimited Business Property Relief resulting in exemption from Inheritance Tax if shares are held for two years or more. • Loss relief
Investee Benefit: To avoid the situation that an investor invests money and later discovers that the company is not EIS eligible, the Inland Revenue will issue a “letter of assurance” that the company meets EIS criteria. This will allow investment into your business (similar to that offer through Business Angels and Dragons Den). As with any innovative company, Ortus is always striving hard in their research and development of new ideas and concepts to assist in the growth of our local economy. To assist them in meeting their research needs and to provide cost effective support to businesses they are now offering a company registry service.
Companyregistry.eu is an innovative one stop shop offering practical guidance on all matters relating to company formation in Northern Ireland, Great Britain and the Republic of Ireland.
Companyregistry.eu specialises in:
• Formation of new companies. • Registered office facilities. • Shareholder agreements.
• Intellectual Property Rights ‑ advice and protection. • Advice on the responsibilities of directors. • Corporate governance advice.
• Advice and guidance on attracting investment through vehicles such as Enterprise Investment Schemes.
Companies are normally formed in 24 hours and the cost of the service is well below other companies offering this service. At just £99 for company formations in UK for practitioners and £125 for non‑ practitioners.
As a special introductory offer, Ortus is offering all NICC members a discounted rate. To receive your discount quote: NICC June Edition.
AIMS Programme
A highly specialist training and in‑house mentoring programme to help businesses reduce their cost base by analysing the flow of materials and the quality & sustainability of the materials incorporated in their products and services. This programme accesses some of the top Lean manufacturing consultants in the UK / Europe. Other growth initiatives developed and delivered with Ortusʼ partners in Enterprise Northern Ireland and Invest NI include:‑
Growth Programme
The Growth Programme assists entrepreneurs by giving them access to mentors who have expertise in areas of business in which they have less experience. It therefore aims to increase the competitiveness of participating businesses.
Tradelinks Programme Tradelinks is development programme specifically designed to assist the micro‑enterprise sector across Northern Ireland and the Border counties of Louth, Monaghan, Cavan, Leitrim, Sligo and Donegal by: • developing exporting capability • addressing barriers to cross border trade.
• investigating the opportunities afforded by new technology • encouraging new market and new product development For further information on all of Ortusʼ services visit their website
www.ortus.org or contact Ortus on 9031 1002
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