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Status
Received: on time
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Income
£110.1K
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Spending
£84.3K
Public benefits
The purpose of Farset Enterprise Park Limited is the promotion for the public benefit of urban regeneration in the area of social and economic deprivation in North West Belfast by all or any of the following means: 1 – the relief of poverty by encouraging creation of job opportunities for unemployed people in the area of benefit. The direct
benefits which flow from this purpose include improved opportunities for employment whether by self employment, creation of new businesses, or employment within businesses supported by the charity, with consequential improvement in income and self esteem. These benefits can be demonstrated by feedback from business owners and their employees. 2 – the advancement of education and training, particularly among unemployed people, in awareness of the opportunities afforded by starting up their own business or of self employment. The direct benefits which flow from this purpose include raised awareness of the personal qualities required for self employment, an understanding of the different business structures that exist and some understanding of the reasons why some businesses fail. These benefits can be demonstrated by feedback from participants and numbers that believe that they possess the required personal qualities. 3 – the provision of financial assistance (or advice on where to source such financial assistance), technical assistance and business advice in order to provide training and employment opportunities for unemployed people in cases of financial or other charitable need through help (i) in setting up their own business, or (ii) to existing businesses. The direct benefits which flow from this purpose include improved preparedness to formulate business plans and better understanding of the steps that need to be taken to initiate a new business and of how it might be funded, thus making it possible to make a more informed decision on whether to proceed. Existing businesses can also benefit from advice on business survival or expansion, thus providing protection for existing employment, with potential for further increase in job numbers. These benefits can be demonstrated by the number of businesses started following the assistance of the charity and the sustainability of these businesses. 4 – the creation of training and employment opportunities by the provision of workspace for use on favourable terms. The direct benefits which flow from this purpose include the establishment of businesses within the area of influence, in which employment and training opportunities are created, augmented by assistance to existing businesses with potential for expansion giving further opportunities for increased recruitment and new employee training. These benefits can be demonstrated by the number of personnel employed by the businesses located within the charity’s workspace. The beneficiaries are the people who have found meaningful employment within the workspace. There is no harm flowing from this purpose. The only private benefit flowing from this purpose is that gained by the proprietors of the tenant businesses through the availing of below average rental rates for workspace. This benefit is incidental and necessary as it aids businesses survival and as the charity is totally dependent upon, and can only continue to provide benefit to its beneficiaries, through the income generated from workspace rental.
... [more] [less]What your organisation does
The organisation promotes the establishment and growth of new and established business by provision of affordable premises made available on flexible lease terms that require only one month notice to terminate. This relieves anyone who is contemplating the establishment of a new business, or the growth of an existing business, from the fear of
entering into the long term commitment normal with commercial leases, thereby making it less risky to start up or expand an existing business and increasing the potential for creating additional employment opportunities. We also provide advice and assistance for the establishment and control of the business and signpost enquirers to other sources of help available. Our services are not restricted to any specific business category so several other charitable, community development, and training organisations have also availed of our assistance. Farset Enterprise Park has assisted other charities by providing start up accommodation. Several of these have grown and moved on to larger commercial premises. We have also provided accommodation for training organisations in the fields of Information Technology and Tiling.
... [more] [less]The charity’s classifications
- The advancement of citizenship or community development
Who the charity helps
- General public
- Unemployed/low income
- Voluntary and community sector
How the charity works
- Economic development
- Education/training
