Failure of governments to support growth of Irish firms globally criticised

The failure of successive governments to support Irish companies in going global while offering every support to multinationals coming to these shores  has been strongly criticised by the head  of the Irish Stock Exchange.

In an impassioned address to a Network Cork lunch, Chief Executive of the stock exchange Deirdre Somers said that our tax system “disincentivises entrepreneurs from scaling their businesses”, and “makes trade sales [of Irish companies to multinationals] effectively inevitable”, she said.

Singing the praises of indigenous Irish companies, Ms Somers described them as “more completely embedded than any foreign multinational will ever be in this country, more completely loyal to this country, they bring a corporate ambition, a global sectoral relevance and leadership that will deliver the next generation of entrepreneurship.”