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Entrepreneurship in Ireland at pre-recession levels

Written by Robert McHugh, on 15th Aug 2017. Posted in Ireland

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The Global Entrepreneurship Monitor (GEM) 2016 Survey of Entrepreneurship in Ireland has been published today and shows that one in every 23 people in Ireland (aged 18-64 years) is a new business owner. 

In 2007, more than 40% of entrepreneurs were focused exclusively on the Irish market. This figure had dropped back to just 20% by last year demonstrating Irish companies increased willingness and ability to do business and operate internationally. With 35,000 new business owners in 2016, Ireland ranks 6th highest in Europe for new business owners. These figures are similar to the US and high compared to European countries.

Like most countries, there are more male entrepreneurs (63%) than female (37%), but that gap narrows as one moves from actively planning to actually starting a new business. At 1 in every 14 women in Ireland, the number of female entrepreneurs in 2016 is the highest noted since GEM research started in 2000.

Commenting on the report, Head of Strategy, People and Regions at Enterprise Ireland, Niall O’Donnellan said, "Ireland is one of seven countries that scores above the European average for both the rate of entrepreneurship (new business owners) and rate of intrapreneurship (employees engaged in entrepreneurship for their employer). The latest GEM survey shows strong global ambition amongst nascent entrepreneurs and new business owners with almost four in five expecting revenues from international customers."

Source: www.businessworld.ie

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