Mr Micheál Martin, Minister for Enterprise, Trade and Employment today launched the Irish Report of GEM (Global Entrepreneurship Monitor) for 2004. Sponsored by Enterprise Ireland and InterTradeIreland, the members of the GEM Irish research team are Paula Fitzsimons and Dr. Colm O’Gorman.
Welcoming the report, Martin said: “The GEM report confirms that the enterprise culture in Ireland remains strong. Choosing to start a business is regarded in a highly positive light and we have the support structures in place to encourage further growth through Enterprise Ireland and the County Enterprise Boards. In terms of regional development, it is critical that entrepreneurs emerge in all regions across Ireland. New start-up companies in towns and villages across the country can provide high skilled and challenging employment and generate valuable spin-off business opportunities in local areas.
As in previous years, the level of entrepreneurial activity in Ireland remains to the fore among European countries and is second only to Poland among the participating EU member states. However, there remains a gap between Europe and other high income OECD countries such as the US, Canada, Iceland, New Zealand and Australia. Key informants interviewed for the purpose of the study once again highlighted culture as the most significant factor in creating an environment conducive to entrepreneurial activity in Ireland.
The research detected an increase in the number of women early stage entrepreneurs compared to 2003 (5% compared with 3.7%). The higher level of activity is substantially accounted for by an increase in the number of women actively planning to set up a new business. The proportion of women who have recently set up new businesses in Ireland is low, however, compared to the number set up by men and is also low compared to the percentage of women starting up in other high income countries.
Colm Hackett, Enterprise Ireland, said “The GEM report helps us to identify the issues of key concern to entrepreneurs. The consolidation of the venture capital market and the improvement in the global economic environment means that the opportunities for growth are now better than ever. In the past year Enterprise Ireland has identified returning ex-pats as a rich source of new start-up companies. The research in the GEM report this year, indicates an increase in entrepreneurial activity among women. The challenge for us in the development agencies is to ensure that the business ideas emerging from all these sources are translated into self-sustaining, ambitious companies .”
