Ireland second in European entrepreneurship poll

Irish people are the second most likely in Europe to set up their own business, according to a major study released today.

Employment Minister Micheál Martin said the Global Entrepreneurship Monitor (GEM) report 2004 confirmed 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,” he said.

“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 highly skilled and challenging employment and generate valuable spin-off business opportunities in local areas.”

The level of entrepreneurial activity in Ireland is second only to Poland among EU member states participating in the GEM scheme.

However, a gap remains between Europe and other high income countries such as the US, Canada, Iceland, New Zealand and Australia.

Those interviewed for the study highlighted culture as the most significant factor in boosting business start-ups in Ireland.

The research also noted 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 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,” he said.

“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.”