Ireland almost twice as entrepreneurial as EU

10 Jun 2010

Entrepreneurship is alive and kicking in Ireland, according to the IMI/IDA Ireland Report on Innovation and the Irish Manager, which shows that entrepreneurs starting businesses account for a total of 4.3pc of the entire population.

In comparison, 2.7pc of the European Union population fit into this category and 2.9pc of the UK, as was detailed in the report launched today by Minister for Enterprise, Trade and Innovation, Batt O’Keeffe TD.

The Innovation and the Irish Manager report found that at 9pc, the rate of established entrepreneurs in Ireland is one of the highest across the OECD (Organisation for Economic Co-operation and Development).

The report also looked into the effect of entrepreneurism on both indigenous and multinational companies in terms of economic stimulation as well as the kind of environment that breeds entrepreneurs.

“Interestingly, half of all entrepreneurs in Ireland have, at one point, worked for a multinational company,” said O’Keeffe.

“Entrepreneurs stimulate innovation and transformation in established companies, including multinationals.”

The report not only looked at the economic repercussions of a strongly entrepreneurial country but also the individual traits of the Irish entrepreneur.

Apparently, the research found that the Irish entrepreneur has an ability “to handle complexity and ambiguity” and is strongly people-oriented, finds personal inspiration through innovation and is more likely to be individualistic and self-reliant than his or her international peers.