David Finch, chief executive of Shetland Enterprise, has announced he intends to step down at the end of August.

The announcement coincides with the publication of Shetland Enterprise's year-end results today, which reveal that Mr Finch will leave the enterprise company in good shape for his successor.

Mr Finch (56), who has a BA in business studies and an MSc in entrepreneurial studies, joined Shetland Enterprise as senior training manager on its formation in 1991. 

He has been in his present post with the local enterprise company, part of the Highlands and Islands Enterprise network (HIE), for eight years. 

Sandy Cumming, HIE chief executive, said:

"David leaves with our best wishes and genuine appreciation for his contribution to Shetland's economic and community development.

"He has always taken great care to ensure that the local enterprise company acted in the best interests of all Shetland's people, businesses and communities, pursuing projects in the smallest islands as well as the main population centres."

Shetland Enterprise chairman Brian Isbister also paid tribute to Mr Finch's achievements.

"David has established a strong foundation for his successor to build on," said Mr Isbister."

"He has been very effective in gaining European funding for a whole range of projects and at forging productive working relationships with partner organisations, such as Shetland Islands Council.

"Such relationships are vital to the islands' economic and social wellbeing and will stand Shetland Enterprise in good stead to face the challenges of the future."

Announcing his decision, Mr Finch said: "I should like to thank all the directors and staff, both past and present, for their tremendous support and encouragement over the 12 years I have been with Shetland Enterprise, particularly during the past eight years in my position as chief executive."

Mr Finch's last year with Shetland Enterprise saw the company achieve record results in job creation, with the number of jobs supported or created with help from the enterprise company up 140 per cent on the previous year.
 
This is one of the statistics detailing the local enterprise company's performance over the last year which were revealed today in conjunction with Highlands and Islands Enterprise's year-end results announcement.

The results have been made known ahead of the publication of the Highlands and Islands Enterprise network's annual report later this year, and show that Shetland Enterprise has achieved steady progress in all its strategic operational themes of growing businesses, strengthening communities, developing skills and making global connections.

During 2002 to 2003, the development agency helped support the creation and retention of 171.75 jobs in the area, exceeding last year's results by 100.  Another successful outcome was its delivery of the HIE Starts scheme - a European-funded initiative to provide new businesses with regular income and advice during the first few months of trading - which led to 27 new businesses setting up compared to 14 during the previous year.

Last year's success was against a backdrop of uncertainty for Shetland's economy, with job losses at Sullom Voe and the fishing crisis hitting the islands hard.  Diversifying the economy to provide a more stable base is a key priority for the enterprise company and a variety of projects geared towards this came to fruition last year. 

Particular highlights include projects to help Shetland's aquaculture industry diversify into other species.  Several oyster and scallop farms received assistance, as did Shetland's first commercial cod hatchery, Nufish.  A £65,000 grant for Lerwick knitwear supplier, Judane, resulted in a further 23 jobs being created at the factory, and the enterprise company has helped a Shetland branding project get underway, which is set to boost the islands' export industries and increase tourism.

The development agency also assisted several businesses to develop their e-commerce activities and engage in research and innovation projects, including support for the development of an innovative grading net for the aquaculture industry by Grading Systems Ltd.

Uptake of the national Investors in People standard maintained a steady pace last year with 27 companies receiving recognition for their commitment to improving competitiveness through the development of staff skills and motivation.

Shetland Enterprise achieved particular success in its strengthening communities remit last year, with projects ranging from the renovation of the Cullivoe Community Hall and preparing the way for the proposed Shetland Council of Social Services' voluntary resource centre, through to the launch of the Shetland Soap Company, which provides training, support, and employment for adults with disabilities.  A key outcome last year was the securing of the Leader+ Northern Isles bid, which secured £612,500 over five years for local projects, and Shetland Enterprise's partnership with the Community Economic Development programme has strengthened further.  In total, 14 community facilities received assistance and several cultural and arts events were supported.

Developing skills remains a high priority for Shetland Enterprise and the number of young people participating in the Modern Apprentices programme rose to 188, and 64 young people were helped to achieve Skillseekers vocational qualifications.

Shetland Enterprise chief executive, David Finch said:  "We are particularly pleased with our results in what has been a difficult year, and it is encouraging to note the enterprising culture shown with so many new start businesses. 

"We are obviously aware that there is still an immense amount of work to do in Shetland, as traditional industries continue to be under pressure. As a consequence, the threat of depopulation becomes a concern, as does the population drift from outlying areas of Shetland.  Helping to develop and maintain a competitive edge for Shetland's businesses is at the forefront of our response and will be the focus of Shetland Enterprise's programme over the coming years."