Indigenous firms must be nurtured - Tech jobs

ON a news landscape characterised by reports of austerity and war, positive stories are scarcer than hens’ teeth and so it is heartening that 100 small new technology companies are set to generate up to 1,500 jobs here over the next three years.

In a country that boasts some of the world’s biggest firms, people tend to be off-hand about names like Apple and Google. But the minnows unveiled yesterday by Enterprise Ireland are the kind of ventures this country really needs.

In no way is that intended as a slur on US corporations which employ over 82,000 workers in Ireland. Though sometimes viewed though jaundiced eyes, it has to be said that most of them maintained deep roots here despite the economic recession. Admittedly, there is always the danger of putting too many eggs in the one basket because, as many workers have learned to their cost, foreign employers can pack their bags overnight and depart this country at the stroke of a pen to relocate in places where labour is cheaper. And that could happen again if, for instance, Ireland’s 12.5% corporate tax rate, the engine room of foreign investment here, ever increased.