Greater Village Regeneration Trust

Renewing the Village Area of South Belfast

 

Economic Development
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Text Box: M.O.V.E. Co-operative Text Box: It is well recorded and documented that the Economy in the United Kingdom is massively dependent upon small businesses; they make up 99% of all businesses and a sub level of these small businesses, almost 60%, are made up of sole traders or partners without employees. These figures are reflected in the make up of businesses in the Greater Village area. During discussions with businesses in the area while setting up the Economic Focus Group, it was very evident that a number of them were in some form of difficulty and that was inhibiting their potential to expand and create new employment in the local area. Being a local community based organisation, the Greater Village Regeneration Trust is very aware of the difficulties associated with operating a business in this area. This is the first time that anyone has attempted to record those difficulties, either real or perceived, on behalf of the business community in the Greater Village area. Barriers to growth were identified during discussions with existing businesses and potential new starts, who had contacted the Trust exploring the possibility of locating in the area. There were other examples noted that could influence the decision of businesses to expand or to locate in this area. These issues and possible solutions to the problem that will be

Economic Focus Group

The Economic Focus Group will identify and capture the imagination of the individual, the community, and business to promote and develop economic activity in the greater Village area.

Objectives

· To develop the capacity of individuals and local groups to identify, design and implement strategies or projects for local economic development.

· To increase awareness of economic development activity within the area to all local stakeholders.

· To communicate and share information relevant to the priority area.

· To promote best practice in the development of higher standards of economic activity.

· To build relationships with external representatives involved in economic development.

· To create a dialogue between areas of greater economic opportunity to promote a more equitable exchange of resources and ideas.

· To build on the expertise of existing organisations.

· To identify the resources to implement economic growth.

· To act as a forum for consultation, discussion and debate.

· To encourage the emergence of enterprises with social objectives involving the local community to promote the creation of wealth.