GEM Ireland 2019 Report

  • Year of publication: 2019
  • Category: National Reports
  • Language: English
  • Upload date: 2020-06-26

Thanks to Enterprise Ireland, with the support of the Department of Business, Enterprise and Innovation, Ireland has been a part of the global consortium since 2000 and the Irish GEM team report annually on entrepreneurship indicators within Ireland and across countries. The results of GEM research in Ireland in 2019 indicate that the start-up rate increased year on year and that all age groups were actively involved with an increase of entrepreneurial activity among those under thirty. The level of those that aspire to be an entrepreneur in the next three years is high for both men and women. An expectation on employment growth by entrepreneurs in Ireland is also very significant relative to other countries across the OECD but the focus has decreased on attracting international customers. Ireland is ranked first across the OECD in terms of jobs growth expectation. 2019 saw a welcome increase in the rate of informal investment in a new business started by someone else. The majority of such investors were investing in a business started by someone known to them. In the past three years, the total value of this investment is approximately €600 million. While the results of the latest GEM research show many positives for entrepreneurship in Ireland, the previous experience with the financial crisis suggests that the negative impact of Covid-19 could last a number of years, with a decrease in the number of owner managers of established businesses and a fall off in the rate of early stage entrepreneurial activity.