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# Growth
32,000 people set up a new business in Ireland last year
Ireland is now ranked second across the European Union in terms of early stage entrepreneurial activity.
A NEW REPORT has found that 32,000 people in Ireland set up a new business in 2013 and 85 per cent of them expect to become employers.
That’s according to the latest Global Entrepreneurship Monitor (GEM) report.
It found that one in eleven of the adult population are engaged in some form of early stage entrepreneurial activity.
It also reported that, “the pipeline of future entrepreneurs also looks very strong as those indicating that they intend to start a business in the next three years increased significantly in 2013″.
The rate of early stage entrepreneurial activity is at its highest level since Ireland first became involved in GEM research in 2000.
The country is now ranked second across the European Union, the Netherlands is in the top spot.
Twenty-two per cent of early stage entrepreneurs expect to employ 10 or more people after five years.
The Minister for Jobs, Richard Bruton welcomes the publication of the Global Entrepreneurship Monitor:
Start-up businesses account for around two thirds of new jobs created in Ireland.
“As a Government we stated a clear ambition for Ireland to be among the most entrepreneurial nations in the world and acknowledged as a world class environment in which to start and grow a business.”
Entrepreneurs
The report also examines the gender aspect of entrepreneurial activity in Ireland.
There are now 1.4 times as many men as women who are new business owners.
Minister Bruton said, “I am delighted to see that men and women in increasing numbers are becoming new business owners.”
It also found that 13 per cent of early entrepreneurs expect to have 75 per cent or more of their customers in overseas markets.
Tom Hayes, Head of Micro Enterprise and Small Business at Enterprise Ireland, said:
The GEM report indicates that Irish early stage entrepreneurs have a stronger focus on international markets and exporting than their OCED and EU counterparts.
“This focus of entrepreneurs on developing innovative products and services for export is essential for growth and economic recovery.”
The GEM report is supported by Enterprise Ireland, Forfás and the Department of Jobs, Enterprise and Innovation.
Declan Hughes, Head of the Enterprise, Trade and Innovation Policy Division, Forfás, said: “It is encouraging to see positive trends in entrepreneurship and to see ambitious plans for job creation.
There is a need to continue to improve the perceived attractiveness of entrepreneurship as a career option and to ensure that entrepreneurs can access necessary sources of finance.
Read: Column: Childcare is the main obstacle for women getting into business>
Read: Opinion: Getting a company off the ground is very tough – but it’s also exhilarating>
