GEM Report Finds Ireland Favours Business

The Irish Report of GEM (Global Entrepreneurship Monitor) for 2005 has found that Ireland remains one of the leading countries in Europe in terms of entrepreneurship and is fast approaching the levels of early stage entrepreneurial activity prevalent in the United States.

Overall, the research found that almost one in ten of the adult population living in Ireland is actively planning or has recently set up a new business. Sponsored by Enterprise Ireland, Forfás and InterTradeIreland, the members of the GEM Irish research team are Paula Fitzsimons and Dr Colm O’Gorman.

Welcoming the report, Minister Micheál Martin identified a pro-business environment, together with a strong culture of support for entrepreneurship, as key factors in fostering an environment conducive to entrepreneurial activity in Ireland.

Minister Martin said: “In terms of those who have actually set up new businesses, Ireland is now very close to the level of the most entrepreneurial of the OECD countries, most particularly the US, which is well recognised as a hot-spot for innovation and new ideas. The number starting and planning new businesses increased to 9.8% equivalent to almost a quarter of a million individuals in 2005 and I am particularly pleased to see that Ireland is now ranked no. 1 in the world in terms of cultural perception of entrepreneurship. Almost 70% of people consider entrepreneurship to be a good career choice and 80% of people believe successful entrepreneurs are held in high regard. This positive disposition towards entrepreneurship, together with a highly responsive environment to the needs of enterprise at a national and local level, are driving the growth in the number of people interested in starting their own business."

Kevin Sherry, Manager of Enterprise Ireland’s High Potential Start-Up Unit said: “Increasing the number of new high growth export focused businesses is a key objective for Enterprise Ireland and is a key element of Enterprise Ireland’s Strategy Transforming Irish Industry. The GEM report in 2005 shows that one in every two Irish adults perceives that there are good opportunities to establish a new business and one in every two also believe that they have the necessary skills to successfully run a new business.

"This positive disposition towards entrepreneurship and starting a new business is an important element in embedding a vibrant culture of entrepreneurship in the Irish economy."

(CD)