50 less businesses in borough

In 2008 there were 1,500 VAT and/or PAYE registered businesses in the borough, however due to the economic decline 3.33% have either moved or shut.

The issue was revealed during a recent Development Committee meeting of the Borough Councilafter the DETI released their Quarterly Report.

Addressing the Ballymoney figures, the report stated that the number of people unemployed in Ballymoney increased from 871 to 936 over a four month period from October 2009 until January 2010.

Meanwhile the five ‘top’ claimant wards were Newhill, Benvardin, Carnany, Route and Killoquin Upper, and the five lowest were Knockaholet, Dunloy, Seacon, Glebe and Cloughmills.

The report explained: ‘The working age employment rate is 73.0%, 3.2 percentage points higher than Northern Ireland as a whole.

‘Median gross weekly earnings April 2008 were 375.90 per week. This was 10.0 per cent lower than those for Northern Ireland as a whole.

‘At September 2007, 12.9% of employee jobs were employed in the manufacturing sector and 72.2% in the service sector. This compares with 12.3% and 80.6% respectively for Northern Ireland as a whole.

‘From October 2009 until January 2010 the number of claimants has increased from 871 to 936. The number of unemployment claimants has increased by 238 over the last year, i.e. an 83.8% increase - 770 males and 166 females. The ward of Newhill has the highest proportions of both male and female claimants as well as the highest proportion overall.”

Raising the issue of redundancies, the report continued: ‘The number of redundancies in the borough this year was at 28.4% of the level it was last year. From February 1 2009 to January 31 2010 4,410 redundancies were confirmed in Northern Ireland with 52 from the Ballymoney District. Last year February 1 2008 to January 31 2009 there were 2,998 in Northern Ireland and 183 in Ballymoney.

“The proposed figure for the current year is 5,166 in Northern Ireland and 48 in Ballymoney.

‘It should be noted however that the figures were sourced from employers tabling returns and that these employers are only obliged to submit returns if 20 or more employees are being made redundant; these figures may therefore be underestimated.

Concluding the report disclosed: ‘There are also 1,450 VAT and/or PAYE registered businesses in the town, a decrease of 50 businesses (3.33%) from 2008.

‘In Ballymoney during 2009 there were 1,435 small ( 50 employees) businesses, 15 medium (50 to 250 employees) and no large businesses (250 employees) - according to the Inter Departmental Business Register.

‘Almost half of these businesses (45.9%) have a turnover of less 100,000.00 per annum, a similar number have a turnover between 100,000.00 and 1million. The remaining 8.2% have a turnover of 1million or greater.’