One in seven people in Ireland aspire to start a business in the next three years. This is among the key findings from the latest Global Entrepreneurship Monitor (GEM) Ireland report.
Other key results are:
• Ireland ranks third in Europe for entrepreneurs with ‘high jobs growth’ expectations.
• There is an increase in youth entrepreneurship. The proportion of 18 to 24 age group that are early-stage entrepreneurs was 16.4% in 2021, up from just 6.7% in 2018.
• Ireland has the third-highest rate for early-stage female entrepreneurs across European countries.
• More than three in five Irish entrepreneurs are trying to minimize the environmental impact of their business.
• Two in every three entrepreneurs expect to use more digital technology to sell products or services in the next six months.
Leo Varadkar, TD, Tánaiste and Minister for Enterprise, Trade and Employment, said: “I believe that anyone with a good business idea, no matter their background, should be able to start and grow a company in Ireland. This report shows that entrepreneurial activity in Ireland is strong, that more and more people under the age of 24 are starting a business, that the gender gap is closing and more people are investing in start-ups. Still, there is plenty we need to work on. Government will examine this report in detail and work with entrepreneurs and business leaders to help more people both start and grow a company in Ireland.”
Leo Clancy, Enterprise Ireland CEO, added: “Despite the challenges of recent years, the GEM report reveals a positive picture of entrepreneurship in Ireland. Just over 10% of early-stage Irish-based entrepreneurs are ‘born global’ with more than 75% of revenue coming from customers outside of Ireland. This places Ireland joint third in Europe on this measure. Enterprise Ireland will continue to support the exporting and job creation strategy of these internationally focused businesses while also working closely with other start-up businesses to encourage exporting potential and ambition across the ecosystem. It is also important to recognize the commitment to both sustainability and digital adoption revealed in the GEM report. These vital issues are core to Enterprise Ireland strategy to ensure Irish businesses continue to compete and win in international markets.”
The GEM Adult Population Survey was conducted in the summer of 2021. The Irish GEM team would like to thank Enterprise Ireland, supported by Department of Enterprise, Trade and Employment, whose financial support made possible Ireland's inclusion in the GEM research cycle in 2021.
New GEM Report Underscores Strong Commitment to Entrepreneurship in Ireland
