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Zntroductlon
Since its establishment in 1984, Omagh Enterprlse Company has been a cornerstone of
economlc development and growth in our community. Fomied as a company limited by
guarantee, it is governed by a voluntary board of directots representing the local
community. Our misslon is to support entrepreneurs and start-up businesses in the area.
Here's a look back at our journey:
1986: We opened 40,000 square feet of office and industrial workspace,
accommodating 25 businesses creating 130 jobs.
1996= An additional 12.000 square feet of industrial workspace wa5 developed,
providing space for 15 more businesses and creating 50 new jobs.
2005: We built a 14,000 square foot Technology Incubation Centre, which housed
15 businesses employing 125 people.
2013: The 14,000 square feet Innovation Growth Centre was established,
supportlng 25 businesses and 100 jobs.
2024: Development began on a 26,500 square feet Digi-Hub, set to open in the
spring of 2025, which will accommodate 50 businesses and create 250 jobs. With
this expansion, we will support 130 businesses and 655 Jobs.
In addition to developing office and industrial workspace to support business and create
jobs, we have a150 provided business advice, mentoring. and financial support to
thousands of entrepreneurs, start-up, growth, and gxial economy businesses durlng this
period.
Mission Vlsion & Values
Mission
The company's mlssion is to promote enterprise and support start-up, growth and social
economy businesses.
The mission provides a platfom that underpins all activities and Is aligned with key
stakeholders such as Levelling Up Fund, Department for Communlties, Department for
the Economy, Invest NI, Fermanagh and Omagh Council, South West College, Omagh
Chamber of Commerce, Enterprising West and Enterprise NI. It is also linked to local and
regional economlc development policies and recognises the value placed on the
contribution made to the economy by the small business sector.
The objecttves of the company laid down in its Articles of Associatlon are to benefit the
area by working with indivlduals, communities, and businesses to reduce unemployment
and create wealth through the development of start-up and existing businesses. As a
company with charitable Status. we strive to reduce poverty through the promotion of
enterprlse.
The NI economy needs to be more enterprising, entrepreneurial, and innovative to
compete on a global basis. In this context, the role of the company is to ensure the local
economy reflects these chararteristics a5 it develops. Thi5 approach ensures the
economy develops in a way that create5 greater wealth and job opportunities for the
people of the area. It also ensures a robust local economy that is increasingly attractive
as a centre for inward investment and as a place for people to work and live.
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Vision
The company's vision is to be a world-dass local enterprlse agency for the entrepreneurs
and small buslnesses of the area. We strlve to be leaders of enterprise and the social
economy and add value to clients through the provision of services. In order to achieve
the vision, we will focus efforts and resources on our key strategic prioritSes and
objectives.
Values
The mission and vision of the company are underpinned by six core values. The values
are carried across all areas of the organisation and guide the delivery and
implementation of the strategic priorities and objective5. The core values of the company
are" Integrity, Professionalism, Teamwork, Respect, Creativity and Enthusiasm.
2.4 Integrity
We commit to being honest and fair in our dealings with each other and with clients and
stakeholders. We will be open, transparent, and professional in our handling of all public
funds, programmes, and projects.
Professlonalism
We commit to continuous professional developrnent to upgrade our individual and
collective skills and knowledge. This enables us to deliver high quality services and
results for our dients and stakeholder5.
Teamwork
We work as highly motivated individuals and as a multi-disciplinary team across the
organisation. We develop strong relationships and partner with organisatlons and
stakeholders to achieve our rni5sion of promoting enterprise and supporting start-up,
growth, and social economy businesses.
2.7 Respect
We show equal respect to each other and everyone we have contact with as part of
carrying out our business actlvities. We are committed to our equality responsibilitie5, as
highlighted by Section 75 of the Nl Act 1998.
2.8 Creativity
We use creativity. imagination, and lateral thinking to consider better and more
innovative ways of developing and delivering services for the benefit of clients and
stakeholders.
Enthusiasm
We approach our work in a positive. enthusiastic, and realistic frame of mind and
demonstrate our belief and commitment in what we do each day.
3.0 STRATEGIC PRIORMES AND OBJEcfIvES
The company continues to review its key strategic priorities through which its Vision,
misslon and core objectives are achieved. Given the likely economlc dimate during the
period of the plan the priorities are:
Priority I: Finanaal Sustatnability
Priority 2.. Property Management & Development
Priority 3: Programme Delivery & Development
Priority 4: People & Skills
Priority 5: Governance & Representation
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The focus of the corporate plan is to develop in each area of strategic prtorlty to malntain
financial strength; develop the property assets. promote enterprise and deliver
programmes to support start-upi growth and social enterprises; and Influen￿ pollcy and
resource allocation through good govemance and representation.
As a result, we will strive to ensure that by 2030 the organisation is a financially secure
enterprise agency that contributes to community, social, enterprise and economic
development. It will also ensure trie organisation is well positioned in the context of
Fermanagh and Omagh District Council's responsibility for local economic development.
The company has developed a range of objectives to achieve its strategic prlorities. The
objectives are detailed below under each priority.
Priority I: Flnancial SustainabilFty
Under Financial Sustainabillty, we will ensure the organisation is managed on a
commercial basis and maintain its ethos of being 'profit making but not profit taking,.
This approach will ensure the tong-term viability of the company and reinforce Its ability
to contribute to the community, enterprise and economic development of the area. As a
result, the company will develop as a social and economic resource to achieve its core
objectives of reduang poverty and unemployment.
The organisation will be managed in an efficient and effective way with the necessary
systems and processes In place to ensure value for money. good corporate governance
and transparency. We will manage our finan￿, property, programmes, people and
partnerships in a responsible and professional way to meet the challenges and
opportunities that lie ahead.
We are aware that many programmes delivered during recent years have beneflted from
significant EU monles. Financial support from EU programmes in the past helped the
company deliver projects on a local and international basis. The new funding streams
from the UK Treasury such as Levelling Up Fund and the Shared Prosperity Fund will
have an impact on the company and the number of programmes being delivered.
As a result, a key focus of the company is the development of long-term sustainable
income from property. To this end, the company is developing an Enterprise &
Innovation Digi-Hub on the former Health Centre site purchased in 2019 through the
Community Asset Transfer programme. We will also dellver the Go Succeed Start and Go
Succeed Grow business support programmes that contrlbute to the local economy on
behalf of Enterprise NI.
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3.1.1 Priority I: Flnanclal Sustalnabillty - Objectlves
Objectlve
Actlons Requlred
Monitor income on a monthly basis
Maximise property income to replace reduced income from
prograrnrne delivery
Maximi5e Facili
Hire income
Monitor overheads and reduce costs where possible
Update and review monthly financial projections
Maintain
rofit on an annual basis
Monitor payments from debtors and to creditors
Ensure effective credit control measures
Monitor bank balance on a regular basls
ate and review monthl
cash flow
Monitor strict credit control measures
Receive deposits from all tenants in keeping wlth good
ractice
Build a cash reserve
Monitor interest rates for future investments in fixed-term
osit account
Focus on promotion of the center to recruit tenants
Review use of units and implement changes /
refurbishment to aid additional revenue
Continue to implement effective corporate governance
procedures to ensure effertive and efficient processes a re in
place
Ensure an effective Risk Assessment Strategy is in place
Review and develop best practice procedures where
ro
nate
Manage tumover level
Increase profitability
Increase cash flow
Reduce bad debts and
provision for bad debts
ro
Increase financial reserves
and develop investment
strate
Manage asset base
Implement corporate
goveTnance procedures
Priority 2: Property Management & Development
Under Property Management and Development, our focus is to recruit tenants and
promote the centre as a location for businesses. We will continue to work with Levelling
Up Fund, Department for Communities and other stakeholders to develop the former
Health Centre site as an Enterprise & Innovation Digi-Hub to provide workspace for 50
businesse5 creating 250 jobs. We wlll use social media to continue to promote the centre
with its unique selling points induding access to super-fast broadband, hlgh-quality office
space, free car parklng, wi-fi, an on-site restaurant and virtual office services. We will
continue to review our produrt offering and promotion to ensure we become a world
leader in enterprise workspace.
The current property portfolio comprises 78.000 square feet of managed workspace. It
includes a purpose-built stste of the art Technology Incubation and Resource Centre
completed in 2005 and an Innovation Growth Centre completed in 2013. The units range
from 180 to 1,000 square feet and are suitable for office, manufacturing or high-tech
businesses and available to tenants on an 'easy-in, easy-out, lease option In line with our
core mission.
The purchase of the health Centre site under the Community Asset Transfer programme
was completed In 2018. During the year ahead, we will continue to work with the Project
Management Led Design Team and constructlon company to complete the development
of the 26,500 square feet Enterprise & Innovatlon Digi-Hub with an expected completion
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date on site of March 2025. During the year we will work with stakeholders to brlng the
project to fruition and regenerate what is a particularly derelict part of the town centre.
The company has a number of conference, meeting and trainlng roorns avallable for hire
and these are used by the general public. As a charitable organisation, we also offer
facilities to a number of social, community and voluntary organisations such as Young
Enterprise. Business in the Community and Omagh Chamber of Commerce.
We will continue to review action5 from our sustainability audit of the company with a
view to adopting an environmental implementation plan for the 5jte during the year
ahead.
We will continue to review other potential development opportunities such as the St.
Lucia site, Council's Place Shaping Plan, Department for Economy's Place & Sub-Regional
Economy Plan and the town centre school sites that will become vacant on completion of
the Strule Shared Educational Campus. We will work closely with our colleagues in
Fermanagh Enterprise Centre to promote enterprise in the Fermanagh and Omagh
District Council area. We will also explore exlsting property assets to see where further
on-site improvements can be carried out.
3.2.1 Priorlty 2: Property P4anagement & Development - Objertive5
Objective
Artions Required
Recruit tenant companies for full occupancy
Review existing prices per square meter
Review existing use of units and refurbish where
necessary
Work with stakeholders to develop the Enterprise &
Innovation Digi-Hub
Promotion of the site as a superior business
location in Northern Ireland thrrAJgh website,
social media, press and emails
Explore further property development
opportunlties
Increase the number and
rofile of
'obs on-site
Review all servicelreception costs and charges
Review facility hire prices
Increased promotion and general awareness of the
training and meeting rooms
Increased promotion of virtual office services
Create database of previous and potential new dients
for promotional purposes
Increase 'aftercare' with previous users of facilities
Promotion of meeting roorns through website, social
media, press and emails
Consider future develo
ment of conference facllities
Maximise potential of
existing rental property
and explore further
property development
opportunities
Maximise potentlal of
conference, meeting
rooms and general
services
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Secure funding to develop the S,000/IO,000 jobs
proposal in Omagh town center
Consider further building on site at rear
Consider purchase of town centre property
Consider presence on Strule Shared Educational
Campus or Gateway building
Consider development on St Lucia site
Explore the promotion of developing Gortrush as a
Digital Business Park given the presence of the Project
Kelvin infrastructure and DEfI's Digital Park strategy
Explore Cross border Shared Island property
development opportunities
Explore Regional property development opportunltles
with enterprise partners under the Mid South West
Growth Deal
Explore vacant school sites in town center followlng
relocation to Strule Shared Education Cam
us.
Monitor monthly overheads
Review annual Maintenan￿ and service contracts
and costs
Explore off-site
development opportunities
Continualty revlew
efficiencies in relation to
runnin
costs
Priorlty 3: Programme Delivery and Development
Under Programme Delivery and Development, we will promote enterprise and support
new start-up, growth and ￿Kial economy businesses in the area. During the year ahead
we will deliver the Go Succeed programme5 to support pre-start, start-upi growth and
social economy businesses in the area. We will continue to tender for any suitable
programme opportunities that arise.
The company has a proven trad( record of programme delivery and has dellvered a
variety of tailored programmes to support the start-up and growth of small businesses.
We will continue to deliver support to start-up and growth businesses under the Go
Succeed Start and Go Succeed Grow progTammes on behalf of Enterprise NI. We wlll
promote enterprise and self-employment through the delivery of the Explore Enterprise
Programme with a focus on clients Not in Employment, Education or Training located in
disadvantaged areas to reduce unemployment. We will provide support to the social
economy sertor through mentoring support. We will continue to support the growth of
female entrepreneur5 to help create employment through the Female Entrepreneur
Programme and Women in Business Explore It.
We will keep a watching brief on UK funding opportunlties such as Levelling Up Fund,
Shared Prosperity Fund and Community ownership Fund.
3.3.1 Priority 3: Programme Delivery and Development - Objectlves
Objective
Actions Required
Deliver the Explore Enterprise Programme in the Omagh area
Annual sponsorship of Young Enterprise Awards
Annual sponsorshlp of Omagh Chamber of Commerce Small
Business Awards
Promotion of enterprise
and entrepreneurship
throughout the Fermanagh
and Oma
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Delivery of Nl Go Succeed Start Programme in the Omagh
area
Delivery of the Fennanagh &Omagh District Council Female
Entrepreneur Programme
Delive
of the Women in Business Ex
lore It Pro
ramme
Delivery of Go Succeed Grow Programme in the Omagh
area
Provision of support to
start-up businesses
Provision of support to
social enterprises and
entrepreneurs
Monitor press for tender opportunities
Continuous review of company's capabilities for management
and delivery
Ensure qualtty systems and processes for management and
delivery of programmes are maintained
Work with Enterprising West and Enterprise Nl totender
forsmall business 5UPPOrt projects and programmes
Work with S W College and other partners totender for small
business support projects and programmes
Development of programmes
to support small
businesses
Priority 4: People & Skills
Under People, we will value the individual contribution of each staff and board member
and provide leadership in a challenging and rewarding envtronment that realises the
potential of each person. We will work as a motivated team showing mutual respect and
trust in each other. We will communicate positively and effectively while challenging
ourselves and delivering services to clients in a professional manner.
We will ensure all staff have a dear understanding of the company's mission, vision and
values and their role within the organisation. It will ensure each person has the
understanding and skills needed for the job and a sound knowledge of the company's
strategic priorities and objertives.
The company has the equivalent of 10 full-time staff. In addition. the company engages
external contractors as needed given programme demands and deadlines. The company
operates flexible working time arrangements that can be availed of by staff, depending
on the needs of the business. The management of the company is focussed on delSverlng
its activities in a professional and profitable way.
We will continue to monitor the staffing levels ￿quired to deliver services. We will, at all
times, ensure an appropriate level of staff combined with appropriate level of reliance on
external contrattors. The company is committed to the ongoing development of its board
and staff. Staff performance appraisals and salary reviews are carried out on an annual
basis. The process ensures the retention of a flexible and skilled team and identifies
areas for additional training and professional development. It a150 ensures all staff
members have the knowledge and skills necessary to meet the need5 of dients.
The company ha5 a board tnembership prO￿S in Pla￿ to facilitate the recruitment and
appointment of new board members and ensure the correct mix of skllls and experience
amongst all board members. A ￿gIster of board members detailing relevant expertise
and experience Is maintained and reviewed on an annual basis.
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3.4.1 Prfority 4: People and Skllls - Objectlves
Objective
Ensure correct mix of skills and
capabilities amongst staff
Actions Required
Cary out annual staff performance appraisals
Revtew existing job descriptions and training
requirements
Support staff to cary out Continuous Profe55ional
Development as necessary
Continuous review of prograrnme delivery
performance with a view to identifying gaps in
skill requirements
Monitor staff trainin
and develo
ment needs
Monitor board membership to ensure correct
mix of skills and experience exists
Maintain a register of board members and their
relevant skills and expertise
Recruit new board members with appropriate
skills and ex erience as needed
Monitor existing core staff and external
contractors a5 needed
Ensure an appropriate level of staffing, combined
vlith appropriate leve15 of reliance on extemal
contractors
Continuous management review of
programme delivery requirements to
ensure all staff are working to full capacity
Additional staffin
em
ed on contract basls
Communication of Corporate Plan to all
employees. Board members and stakeholders
Communication of staff roles and responsibilities
inthe context of the Corporate Plan
Maintsin and encourage flow of information
throu
hout the or
anisation
Ensure correct mlx of skills and
apabilities amongst Board Membe
Ensure an appropriate level of
staffing, combined with appropriate
levels of reliance on external
contractors
Effective communication of all
company activity
Prlority 5: Governance and Representation
Under Governance and Representation. we will work in partnership with all key
stakeholders and contribute to policy issues, particvlarly in relation to communlty
enterprise and economic development. We will focus our efforts where they are most
effective and be actively involved in the development and implementatlon of small
business strategies and programmes.
In taking forward our plan, we will work in c105e partnership with key stakeholders such
as Fermanagh and Omagh District Council, Department for Communities, Levelling Up
Fund, South West College, Enterprising West, Invest NI, Enterprise NI, Department of
the Economyi Omagh Chomber of Coffltnerce, Young Enterprse and Business in the
Community. We will also work dosely with indivi(Juals and groups in the private, public
and community and voluntary sectors.
We wlll work with other bodies to inforn key policies and strategies that affett the
economic well-being of the area.
We wlll continue to develop our digltal and social media strategy to promote the
company and ralse awareness of the servlces on offer. We will use platforms such as
Twitter, Linkedln, Instagram and Facebook to promote the organisation. We will
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Priority 5: Governance and Representation (contlnued)
embrace Artificlal Intelligence In all its forms to help manage all aspects of the business
and infomi staff of its use to further develop the business.
3.5.1 Prfority S: Governance and Representatlon - Objectives
Objective
Ensure good corporate govemance
procedures are in place
Actions Re
uired
Complete an annual external audit of
accounts and pro￿55eS and procedures
Hold regular Audit & Risk Management
Committee meetings to review finances and
procedures
Regular review of the company's Rlsk
Register
Deliver
programmes
pollcies and procedures
Compliance with all statutory reporting
rocedures
Chief Executive to develop appropriate
strategic alliances and partnerships
Chief Executive to represent OEC at Board
level where potential for future development
of
artnershi
s exist
Local
Fermanagh and Omagh District Councll
Fermanagh and Omagh District Councll
Community Plan
Omagh Place Shaping Strategy
Omagh Chamber of Commerce
Business in the Community
Young Enterprise
St Lucia Consultation
Strule
Shared
Educational
Community Stakeholder Group
ODC 2025: Towards a City Vision
OSD Town Centre Masterplan
Omagh Place Shaping Plan
Reglonal
Enterprising West
Mid South West Growth Deal
South West College
Invest NI
Cross-border
Intertrade Ireland
Local Enterprise Offices
In5titute5 of Technology
ICBAN
Letterkenny Institute of Technology
SEUPB
Northern Ireland
Enterprise NI
Department for Communities
Department of the Economy
Invest Nl
within
programme
Create, maintaÈn and strengthen
existing and new relationships with
relevant stakeholders
Malntain and develop existing and
new representatlon and
relationships at a local, regional,
cross-border and European level
Campus
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3.5.1 Priority 5: Governance and Representation - Objectives (continued)
Colleges NI
Catalyst Inc
Community Flnance Ireland
NORIBIC
United Kingdom
Levelling Up Fund
Shared Prosperity Fund
Community Ownership Fund
UK Science Park Association
Enter
rise NI
Facebook
Twitter
LinkedIn
Instagram
Email database
Newsletter
Ideos
Google Analytlcs
Artificial Intelli
ence in all its forms
Develop and promote a strong
brand for all company property.
conference and programme
activities
CORPORATE GOVERNANCE
Corporate Governance
The company is committed to the prfnciples of Corporate Govemance and through the
development of a number of internal processes captures all internal and external
procedures. The detailing of the company's activities in this way ensures it follows best
practice guidelines and demonstrates openness. transparenry and accountability In all its
business activities.
The creation of an Internal Audit & Risk Management Committee has enabled the
company to address corporate governan￿ issues and a risk register is in pla￿. These
actions ensure the company has effective corporate governance procedures in place and
manages key areas of risk during the period of the plan.
Embracing Corporate Governance ensures the organisation adheres to the highest
standards of integrity In carrying out its business and managing Its finances. The
company is fully aware of Its responsibilitles and the need for both Internal and external
audit and accountability. particularly in relation to the management of public money.
Risk Management
Internal controls are in place throughout the company's processes and procedures to
provide dear accountability. The area5 addressed include financial sustainability, property
management and development. programme delivery and development, people and
corporate governance, and any risks that may occur. The company carries out a full
external audit on an annual basls.
The company maintains hlgh standards in the management of risk and the processes In
place are reviewed annually to ensure their relevance. Key rlsks are identified and
managed to achieve a balance between risk and reward.
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Financlal 14anagement
The company carrles out a complete financial audit of all actlvltles on an annual basis in
accordance wlth Companies Act 2006 and Flnancial Reporting Standard 102 applicable in
the UK and Republic of Ireland issued by the Financlal Reporting Council. The process is
carried out by external auditors (Cavanagh Kelly) and presented to the Audit & Risk
Management Committee which presents it to the Board for approval at the Annual
General Meeting. The financial year runs frorn 1st April to the 31st March at which point
audited accounts are prepared and presented to the Audit and Risk Management
Committee and then to the Board. The audited accounts comply with the Statement of
Recommended Practice for Charitable organisations and tneet the requirements of the NI
Charity Cornrnission.
The Audit & Risk Management Committee meet on a quarterly basis to review
management accounts, financial projections, the risk register, authorise electronic bank
payments and consider other relevant business. Management Accounts are completed
and presented to the Board for consideration at each Board tneeting. Indtvidual
programmes are audited on a regular basis by the respective funder organisations.
Claims for programme delivery are invoiced monthly or quarterly to the funder on a
work-completed basis as per individual funder letters of offer. The Audlt & Risk
Management committee is chaired by the Wictrchair of the company.
The company Is also registered to comply with HMRC Anti-money Laundering Regulations
and the National Crime Agency.
Equality
The company is comrnitted to its equallty respons7bilities and to provide falr and
unprejudiced treatment for everyone, as highlighted by Section 75 of the NI Act 1998. As
part of the company's best practice procedures and membershlp of Enterprise NI,
equality infonnation for all participants on mainstream programmes is collected and
monitored via a central database. The company is a registered employer with the
Equality Monitoring Commission and submits relevant etnployment monitoring statistics
on an annual basis.
5.0 QUALrrY
Quality
The company will malntain its quality control systems and procedures and monitor other
quality marks wlth a view to implementation where they a￿ of particular benefit.
In additlon, as a member of Enterprise Nl. quality is monitored in relation to individual
programme delivery and progress against targets. The attention to quality is captured
through the Membership Agreement held with Enterprise NI. The quality of services
provided by the company is further measured by the ability to meet outputs and targets
detailed in individual letter5 of offer and service level agreements wiith relevant funders.
PUBLIC BENEFrr srATEMENT
Public Benefit statement
In setting our objectlves and planning our activities for the year the trustees have given
careful consideration to the Charity Commission for Northem Ireland's guidance on public
benefit to ensure that the activities have helped to ach5eve the charity's purposes and
provide a benefit to the beneficiaries.
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Approved by the Board of Directors on 2 july 2024 and signed on its behalf by:
Mr Marcus Isherwood (Chairperson)
Tnjstee
Mrs Geraldine Keys
Trustee
ice chairperson)
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