Entrepreneurial spirit ‘still thriving’ despite recession

BUSINESS start-ups remained strong last year with an average of 2,800 recorded each month.

Despite the onslaught of the recession the Global Entrepreneurship Monitor (GEM) Report for Ireland 2008 said Irish entrepreneurship was at the heart of the European economy outperforming its European counterparts.

Last year’s figures show the rate of early stage entrepreneurial activity at 7.6% and the rate of established entrepreneurs running at 9% among the adult population. The rate at which individuals started businesses in Ireland, at 4.3%, continues well above the 2.7% within the EU and 3.3% for the OECD.