More than 1,000 delegates from the small and medium sized business sector worldwide are meeting in Belfast this week to discuss how this vitally important sector can retain its competitiveness in the current uncertain economic climate.

The delegates attending the International Small Business Congress (ISBC) – being held for the first time ever in Ireland – and the Institute for Small Business and Entrepreneurship (ISBE) conferences at the Europa Hotel from Tuesday until Friday represent the cream of SME practitioners, policy makers and academics.

The ISBC will attract business owners and policy makers from a wide range of countries in North America, the Far East, Europe, the UK and Ireland while delegates at the ISBE meeting will be mainly academics involved in research and educating and training entrepreneurs.

The conferences come as many SMEs face a twin threat – increasingly expensive borrowings and worsening cashflow. Delegates will be debating how they can ease the bureaucratic burden on small businesses and also enable them to become more competitive and outward looking.

SMEs are the backbone of the European economy, producing 58% of the region’s GDP in services and goods and have also created 80% of the new jobs in the EU in the last five years. SMEs make up some 99% of all enterprises and, according to eurstat, the rate of new start-ups is higher in Europe at 11.4% than even in the United States (9.7%).

Professor Ken O’Neill, Professor of Enterprise and Small Business Development at the University of Ulster, who is largely responsible for attracting the conferences to Northern Ireland, said: “There are many issues affecting SMEs in the current economic climate and this is the first opportunity for experts from the sector worldwide to meet and discuss the way forward.

“Delegates will be putting forward their views on how the financial institutions and the policy makers can help the sector weather the current economic storm and we have a distinguished list of keynote speakers who will bring their owns expertise and experience to bear on the discussions.

Among those speaking at the conference sessions will be Padraic White, former managing director of the Industrial Development Authority in the Republic of Ireland; Graham Davis, Director of Regional Economic Development, Invest NI; Professor Jim Bell, Professor of International Business Entrepreneurship, University of Ulster; Aidan Gough, Director - Strategy & Policy, InterTradeIreland.

The ISBC conference is being hosted by the University of Ulster. The main sponsors are Invest Northern Ireland, Belfast City Council, European Regional Development Fund, Enterprise Ireland, InterTradeIreland, Federation of Small Businesses, the Small Firms Association in the Republic of Ireland and the Genesis Initiative.

 Cllr Michael Browne, Chair of Development at Belfast City Council, said: “We are delighted to welcome this conference to Belfast; small businesses are the cornerstone of our economy and through this event we aim to encourage discussion on the latest issues in small firm growth and development which is of increasing importance in our current economic climate.” 

 “The presence of this conference in Belfast displays the international reputation that the city possesses in attracting high-quality; world-renowned conferences facilitated by our range of first class venues”.

Graham Davis, Invest NI’s Director of Regional Economic Development, said: “Northern Ireland has a proud tradition of enterprise. It is crucial that our entrepreneurial ethos continues to grow and help generate a greater number of small and medium sized businesses that can contribute to the overall wealth of the economy. These conferences provide a platform for discussions and learning about the latest and most effective practices in small business development around the world.”

Aidan Gough, Director, Strategy and Policy of InterTradeIreland, said: “The coming to Belfast of students, policy makers and most importantly practitioners of entrepreneurship from across this island and beyond at this time of economic uncertainty emphasises the critical importance of remaining focused on the core determinant of economic well-being - new firms and their development”.

Francoise Le Bail, Deputy Director-General & SME Envoy at the EU Commission, will tell delegates of a far-reaching piece of legislation, the Small Business Act, which is expected to be politically endorsed by EU Member States in December this year.

It is designed to address some of the obstacles facing SMEs including the heavy administration and bureaucracy burden which challenges small businesses because of their reduced human and financial resources. The other is the lack of finance due to the poor image of SMEs in the financial world.

The Small Business  Act will also attempt to enable SMEs to increase their information, skills and means to engage more in export activities.

Press Office, Department of Communication and Development
Tel: 028 9036 6178 : Mob: 07808 911343
Email: pressoffice@ulster.ac.uk

For further information, please contact:

Martin Cowley
Telephone: 028 71675083
Email: Martin Cowley