Irish twice as likely to set up their own business

ENTREPRENEURIAL spirit is alive and well in Ireland according to research which suggests we are nearly twice as likely as our European counterparts to set up our own business.

The research shows the rate at which individuals started businesses in Ireland in 2008 was 4.3% of the population, compared with 2.7% in the EU.

We are also well ahead of the worldwide average on business start-ups with the 31 OECD developed economies showing an entrepreneurial rate of just 3.3% of population.