Scotland's most northerly local enterprise company has reported record results in business start up with more than 20 new companies successfully trading this year.

Commenting today (Tuesday 4th September) on Shetland Enterprise's tenth annual report, chairman Brian Anderson said:

"This has been a positive year all-round for Shetland. We are delighted to see such confidence in the local economy with 24 new businesses opening this year. These included Fair Isle Silver whose jewellery won the Scottish Gift of the Year award at the Made in Scotland International Trade Fair and John Reid Sporrans in Lerwick who produce high quality handmade sporrans for export. Composer John Laughland from Baltasound in Unst established an internet-based music business offering original compositions as well as arrangements of classical and popular works."

Chief executive David Finch said: "The completion of ten successful years is a milestone in the history of any organisation and this year reflects the economic and social progress that has been made in Shetland. This year we invested in 123 companies assisting them to create or retain 85 jobs. We also saw a record number of local businesses receiving Investors in People status demonstrating their commitment to staff development and training.

£746,000 was invested in supporting education and training activities and almost 200 people across the islands opened Individual Learning Accounts. This year 111 Skillseekers started on the programme in a wide variety of vocations.

Almost 80 people received vocational qualifications and 26 modern apprenticeships were completed alongside a diverse range of providers including the local authority, a childcare organisation, a publisher, a building contractor and a marine engineering company.

More than £65,000 was invested through Community Action Grants supporting a number of national festivals and events including the successful Millennium Show which was attended by 11,000 people and the Unst festival which attracted 9,000 visitors. Other projects included the Shetland Befriending scheme, an initiative which matches children with difficulties with a volunteer 'befriender', Whitedale Youth Club which received assistance to build a fitness track and the Ness 2000 Conference which helped the Dunrossness community address concerns about the impact of job losses at Sumburgh Airport.

Mr Anderson said: "The creation of strong, confident communities which offer economic opportunities and a good quality of life is a crucial part of our remit. Working in partnership with other agencies we act as facilitators for initiatives that come from the grassroots, giving priority to the more economically fragile areas."

David Finch said: "Looking forward to the next ten years, as part of the Highlands and Islands Enterprise network, we expect to continue to playing an important part in supporting businesses in Shetland. We will continue to work with other public agencies to streamline delivery of economic development services."