Description
In such a detailed description relating to global entrepreneurship monitor (gem) the annual report for ireland.
GEM research in Ireland and this report are supported by Enterprise Ireland,
with the support of the Department of Jobs, Enterprise and Innovation
Global Entrepreneurship Monitor (GEM)
The Annual Report for Ireland
Paula Fitzsimons
Colm O’Gorman
ENTREPRENEURSHIP
IN IRELAND 2014
The 2014 GEM Report for Ireland is sponsored by Enterprise Ireland,
with the support of the Department of Jobs, Enterprise and Innovation.
The ?ndings of this independent report, however, do not necessarily
represent the views of these organisations.
Although data used in this report is collected by the GEM consortium,
its analysis and interpretation is the sole responsibility of the authors.
The authors, for their part, have attempted to ensure accuracy and
completeness of the information contained in this publication. No
responsibility can be accepted, however, for any errors and inaccuracies
that occur.
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LIST OF TABLES AND FIGURES 09
ACKNOWLEDGEMENTS 13
AUTHORS’ DETAILS 15
FOREWORD 17
RECENT ENTREPRENEURS FEATURED ON THE COVER 19
SECTION 1 EXECUTIVE SUMMARY 21
SECTION 2 ENTREPRENEURSHIP IN IRELAND IN 2014 25
2.1 Measuring entrepreneurship 25
2.2 Ireland’s rate of entrepreneurship - the TEA Index 26
2.3 Intrapreneurship - entrepreneurs within organisations 27
SECTION 3 ENTREPRENEURS IN IRELAND IN 2014 29
3.1 Introduction 29
3.2 Nascent entrepreneurs 30
3.3 New business owners 31
3.4 New business owners with signi?cant growth potential 32
3.5 Millennials - young entrepreneurs 34
3.6 Female entrepreneurs 35
3.7 Owner managers of established businesses 39
SECTION 4 IRELAND’S ENTREPRENEURIAL ECO-SYSTEM 41
4.1 The policy context 41
4.2 Strengths in the eco-system 42
4.3 Constraints in the eco-system 43
4.4 Entrepreneurship in Dublin and the rest of Ireland 46
CONTENTS
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SECTION 5 INSIGHTS FROM OTHER COUNTRIES 49
5.1 Policy priorities 49
5.2 Maximising impact 50
5.3 Financing new businesses: informal investors 52
5.4 ‘Missing’ entrepreneurs 53
SECTION 6 PROFILES OF RECENT ENTREPRENEURS 55
Ben Harris 56
Isolde Johnson 57
Julie Currid 58
Moira Kiely 59
Myles Murray 60
Simon Lynch 61
Wayne Byrne 62
Yvonne Brady 63
SECTION 7 COMPARATIVE INTERNATIONAL DATA ON ENTREPRENEURSHIP 65
APPENDIX 1: GEM METHODOLOGY 89
APPENDIX 2: GLOBAL RESULTS 93
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TABLES (SECTION 2 TO SECTION 4 INCLUSIVE)
Table 1 Entrepreneurship in Ireland: 2010-2014 26
Table 2 New business owners and intrapreneurs: selected countries 27
Table 3 Nascent entrepreneurs in Ireland: 2010-2014 30
Table 4 New business owners in Ireland: 2010-2014 31
Table 5 Growth aspirations: new business owners 32
Table 6 Customers in overseas markets: new business owners 32
Table 7 Innovativeness: new businesses 33
Table 8 Market expansion index: new business owners 33
Table 9 Entrepreneurial aspirations and activities: millennials 34
Table 10 Culture, personal context and entrepreneurship training: millennials 34
Table 11 Entrepreneurship by gender: 2010-2014 35
Table 12 Aspiring to start a business by gender 36
Table 13 Sector of activity by gender: early stage entrepreneurs 37
Table 14 Growth aspirations by gender: early stage entrepreneurs 37
Table 15 Customers in overseas markets by gender: early stage entrepreneurs 38
Table 16 Highest education attainment level by gender: early stage entrepreneurs 38
Table 17 Market expansion index: owner managers and new business owners 40
Table 18 Participation in training on starting a business 45
Table 19 Culture, personal context and aspirations: Dublin and the rest of Ireland 47
Table 20 Entrepreneurial activity: Dublin and the rest of Ireland 47
FIGURES
Figure 1 TEA index ranking 26
Figure 2 Intrapreneurship ranking 27
Figure 3 The entrepreneurship process and GEM operational de?nitions 92
Figure 4 GEM’s global coverage: map of economies included in GEM 2014 93
LIST OF TABLES AND FIGURES
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TABLES (SECTION 7): COMPARATIVE INTERNATIONAL DATA ON ENTREPRENEURSHIP
RATES OF ACTIVITY
Table A Rates of entrepreneurship 65
Table B Rates of intrapreneurship 66
Table C Rates of aspiring entrepreneurs 67
Table D Business exits: rates and reasons 68
CHARACTERISTICS OF EARLY STAGE ENTREPRENEURS
Table E Entrepreneurial teams 69
Table F Work and household income: early stage entrepreneurs 70
Table G Motives: early stage entrepreneurs 71
Table H Education level: early stage entrepreneurs 72
Table I Age: early stage entrepreneurs 73
ENTREPRENEURS WITH SIGNIFICANT GROWTH POTENTIAL
Table J Growth aspirations: early stage entrepreneurs 74
Table K International orientation: early stage entrepreneurs 75
Table L Sector of activity: early stage entrepreneurs 76
Table M Innovativeness: early stage entrepreneurs 77
MEN AND WOMEN
Table N Rates of entrepreneurship by gender 78
Table O Motives by gender: early stage entrepreneurs 79
Table P Personal context by gender: adult population 80
ESTABLISHED OWNER MANAGERS
Table Q Growth aspirations and international orientation: owner managers 81
Table R Sector of activity: owner managers 82
Table S Innovativeness: owner managers 83
Table T Education level and household income: owner managers 84
Table U Age: owner managers 85
ATTITUDES AND PERCEPTIONS IN THE ADULT POPULATION
Table V ‘Culture’ perceptions: adult population 86
Table W Personal context: adult population 87
INFORMAL INVESTMENT ACTIVITY
Table X Informal Investors: rates and amounts 88
APPENDIX 2: ENTREPRENEURIAL ACTIVITY IN THE
GEM ECONOMIES IN 2014 BY REGION 94
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Thanks to the sponsorship of Enterprise Ireland, with the support of the Department of Jobs,
Enterprise and Innovation, Ireland is included in the 2014 GEM research cycle. We are very grateful
to our sponsors for their support and for the importance they place on entrepreneurship. As the
economy begins to recover, policy makers are focused on the contribution that entrepreneurs can
make to renewed growth and the creation of employment. GEM research and analysis is in a position
to provide important data to inform and shape policy choices.
The Irish GEM team would like to thank all the members of the public who participated in our survey.
We are very grateful to them as without their participation, the adult population survey, on which GEM
research is primarily based, could not be completed.
We are also grateful to all the entrepreneurs and expert informants that were consulted as part of this
research. They gave generously of their time and their insights as always enriched our understanding
of the changing environment for entrepreneurship in Ireland.
We thank our colleagues in the national GEM teams, who undertook the research in 2014 in each
of more than seventy economies. We are also grateful to the coordination team in the Global
Entrepreneurship Research Association (GERA). The coordination team manages to skillfully combine
complex data from all the national teams, while ensuring robustness and academic rigour. We also
acknowledge with thanks the assistance of Ian McGlynn, Fitzsimons Consulting, particularly in relation
to the pro?les of the entrepreneurs featured.
Finally, our sincere thanks go to the many readers of the GEM annual reports. By your comments
it appears that many of you ?nd the information of value in a wide variety of circumstances. We are
grateful for your feedback and for your continued interest in the research.
Paula Fitzsimons Colm O’Gorman
fitzsimons consulting
S P ECI AL I S I NG I N E NTRE P RE NE URS HI P AND GROWTH
ACKNOWLEDGEMENTS
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PAULA FITZSIMONS is the founder of Fitzsimons Consulting, which specialises in entrepreneurship
and growth. Paula has been the national coordinator for the Global Entrepreneurship Monitor (GEM)
for Ireland since 2000. She previously served for several years on the governing body of GERA, the
Global Entrepreneurship Research Association, as President of the national teams.
Paula is also the director of Going for Growth, which is focused on peer support as a means of
assisting female entrepreneurs who wish to grow their businesses. Designed to address a gap in
enterprise development, the Going for Growth initiative has been supported from the beginning by
Enterprise Ireland and by the Department of Justice and Equality, which coordinates the European
Social Fund and Irish Exchequer ?nancial support. This year KPMG also become involved in sponsoring
the initiative.
In 2014 Going for Growth was described as an inspiring practice in the OECD/EU report “Missing
Entrepreneurs” and was selected as a Good Practice by the European Institute for Gender Equality
(2014), following a competitive process. A pilot of Going for Growth was successfully completed in
Finland and the intention is to implement the initiative across Europe.
CONTACT DETAILS:
Paula Fitzsimons • Tel: +353 1 845 0770 • E-mail: paula@?tzsimons-consulting.com
COLM O’GORMAN is Professor of Entrepreneurship at Dublin City University Business School. His
research focuses on entrepreneurship, innovation, and growth in new ?rms and in small and medium
sized enterprises (SMEs). Speci?cally he has studied the growth strategies of SMEs, the nature of
managerial work in high growth SMEs, mission statements in SMEs, and internationalisation processes
in International New Ventures, and in SMEs. He has explored the emergence of high-tech ?rms in the
context of cluster dynamics, including a study of the factors that led to the rapid emergence of the
software industry in Ireland during the 1990s. He has examined innovation processes in large ?rms.
Colm has published in international peer-reviewed journals such as Entrepreneurship and Regional
Development, European Planning Studies, Journal of Small Business Management, International
Marketing Review, Organisational Dynamics, R&D Management, Small Business Economics, and
Venture Capital. He has completed several European Union funded research projects. He is co-author
of ‘Enterprise in Action’, a text book on entrepreneurship for Irish students. He has co-authored
eight teaching cases studies on entrepreneurship published by the European Case Clearing House,
including several award winning cases.
CONTACT DETAILS:
Colm O’Gorman • Tel: +353 1 700 6941 • E-mail: [email protected]
AUTHORS’ DETAILS
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FOREWORD
Last year I published Ireland’s ?rst ever national strategy for entrepreneurship. Start-Ups in their ?rst
?ve years of existence contribute two-thirds of all new jobs.
As we set our sights on getting back to full employment we must nurture and support those who
start-up a business and seek to make entrepreneurship part of our DNA.
We have many great entrepreneurs in Ireland but we need more of them.
It is important to benchmark ourselves against other countries as we seek to create a vibrant
environment for start-ups across our country.
I believe that there is real entrepreneurial potential among the young people of this country. This report
suggests that one in ten of those aged under 35 aspire to be an entrepreneur. Those and others like
them, who wish to realise their entrepreneurial dream, should tap into all the support available to them,
so that their new business has the best possible chance of being successful.
There is a great amount of assistance available for these aspiring entrepreneurs to develop the
necessary skills and knowledge that they will need, including through their Local Enterprise Of?ces
and through Enterprise Ireland. I am also heartened by the examples I have seen of successful
entrepreneurs being prepared to reach out on a voluntary basis to support those at an earlier stage
on their entrepreneurial journey.
The pro?les featured in the report remind us that entrepreneurs come from a variety of backgrounds.
For some it is their ?rst entrepreneurial undertaking. Others are serial entrepreneurs. All agree that it is a
tough but rewarding role. They talk of the support that they have received from family and from friends,
as well as from the team that is working with them to realise their vision. They are characterised by
hard work, persistence and belief in their vision. I wish them and all those like them every success. By
starting a new business which is solving a problem for their customers and delivering real value, they
are making a tangible contribution to their local economies and underpinning the return to growth.
RICHARD BRUTON T.D.
Minister for Jobs, Enterprise and Innovation
July 2015
“It is important to benchmark ourselves
against other countries as we seek to
create a vibrant environment for start-ups
across our country.”
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RECENT ENTREPRENEURS FEATURED
ON THE COVER
A pro?le of each of the following entrepreneurs, who have recently set up a new business,
is included in Section 6.
NEW BUSINESS: EVB SPORT LTD
ACTIVITY: Support sportswear for women
LOCATION: Louth
WEBSITE: www.evbsport.com
YVONNE
BRADY
NEW BUSINESS: XHAIL
ACTIVITY: Original music software platform
LOCATION: Wexford
WEBSITE: www.xhail.com
MOIRA
KIELY
NEW BUSINESS: WICKLOW WOLF BREWING COMPANY
ACTIVITY: Producer of Irish craft beers
LOCATION: Wicklow
WEBSITE: www.wicklowwolf.com
SIMON
LYNCH
NEW BUSINESS: THE COOL BEAN COMPANY
ACTIVITY: Healthy superfood consumer product
LOCATION: Dublin
WEBSITE: www.coolbeans.ie
ISOLDE
JOHNSON
NEW BUSINESS: OXYMEM LTD.
ACTIVITY: Energy ef?cient wastewater treatment
LOCATION: Westmeath
WEBSITE: www.oxymem.com
WAYNE
BYRNE
NEW BUSINESS: INITIAFY
ACTIVITY: Online platform for the induction of new staff
LOCATION: Dublin
WEBSITE: www.initiafy.com
JULIE
CURRID
NEW BUSINESS: PMD SOLUTIONS
ACTIVITY: ResipraSense: a breathing rate monitor
LOCATION: Cork
WEBSITE: www.pmd-solutions.com
MYLES
MURPHY
BEN
HARRIS
NEW BUSINESS: DROP
ACTIVITY: Connected scale and recipe app
LOCATION: Dublin
WEBSITE: www.getdrop.com
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How entrepreneurial is Ireland?
Approximately 20,400 individuals started a new business in Ireland in 2014
1
. This is the equivalent to
1,700 a month. This is broadly similar to the years 2010, 2011 and 2012, but is lower than in 2013.
There was a downward trend in 2014 in the GEM TEA Index (the rate of early stage entrepreneurs) in
Ireland. In the rankings of early stage entrepreneurial activity across Europe, Ireland is placed 16
th
in a
group of 25 countries.
However, Ireland rates better in terms of intrapreneurs. One in ?fteen people in the general population
in Ireland are active as intrapreneurs, in that they have been involved in the development of new
activities for their employer in the past three years (e.g. developing or launching new goods or services).
Ireland is ranked 6
th
among 25 European countries in this regard. However, considering only those in
employment, the rate is higher, 11.8%, with Ireland ranking 2
nd
to Denmark.
Ireland’s entrepreneurs
Nascent entrepreneurs: Many adults in Ireland report that they are actively engaged in the early steps
involved in starting a business, though these people are typically still in employment. They have spent
nine months on average working on their idea for a new business. Ireland is ranked 15
th
of 25 European
countries, in terms of the rate of nascent entrepreneurs. The rate in Ireland (4.4%) is broadly similar to
the European average (4.6%).
New business owners: Of the 20,400 individuals who started a new business in Ireland in 2014, about
two thirds are the sole owner of the business. Most of the new business owners (63.5%) do not yet
have employees, though three quarters expect to have employees within the next 5 years. One in six
new business owners aspire to grow quickly, in that they expect to employ more than 20 within the
next 5 years.
Many of these new businesses already have some international sales (customers in overseas
markets), though for most of the new businesses the domestic market is the most signi?cant source
of customers. A small number, one in eight, is ‘born global’, however, in that they already have 75%
of their customers in international markets.
The owners of many of these new businesses perceive that they are innovative - in that their product/
service is new to customers (46%), they have identi?ed a market niche with limited competition (51%),
or the technology they are using is new (30%). Just over half are using the internet to sell their product
or service. Most are in low or non-tech sectors, with 15% in medium or high-tech sectors.
Ireland is ranked 15
th
of 25 European countries in terms of the rate of new business owners. The rate
in Ireland (2.5%), however, is below the European average (3.2%).
Millennials – young entrepreneurs: Those born between 1980 and 1996 (so aged between 18 and 34
in 2014) are more likely to perceive opportunities for new businesses and they have a higher aspiration
to start a business, relative to older age groups (those born before 1980). However, they are not more
active as new business owners. Millennials account for 39% of all new business owners in Ireland.
‘Youth’ entrepreneurs, those aged between 18 and 24, account for less than 6% of new business
owners.
SECTION 1
EXECUTIVE SUMMARY
1
The number of new businesses started in Ireland in 2014 is less than this number, as many new businesses have more than one owner.
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Female entrepreneurs: More men than women start new businesses. In Ireland there are just over
two men that are either a nascent entrepreneur or a new business owner for every female early stage
entrepreneur. Of the 20,400 individuals who started a business in 2014, 14,400 are men and 6,000
are women. Men compared to women continue to be more con?dent in their perception of having the
necessary skills and knowledge to start a business and men have higher growth aspirations for their
new businesses. A higher rate of female entrepreneurs in Ireland are motivated by necessity (39%)
compared to male entrepreneurs (26%). The rate is also high compared to the European average for
female entrepreneurs (26%).
2
Owner managers of established businesses: In 2014, the rate of owner managers (9.9%) in Ireland is
high compared to the average across Europe (6.7%).
Owner managers of established business in Ireland are engaged in a board range of sectors. More
than half of owner managers (59%) have some customers in international markets and 20% have a
quarter or more of their customers outside the country. Owner managers are not as innovative as new
business owners and few (2%) expect to create ten or more jobs within the next ?ve years.
Ireland’s entrepreneurial eco-system
Ireland’s entrepreneurial culture: Ireland’s standing in terms of a generally supportive culture has always
been relatively high and this continues in 2014. Successful entrepreneurs are held in high esteem. In
2014 more people in Ireland consider the media coverage of entrepreneurs to be supportive than is
the case in any other European country.
Self-con?dence, aspirations to entrepreneurship and fear of failure: Almost one in every two people
in Ireland report they have the knowledge and skills to start a business. A much smaller rate aspire to
start a business. For those that are not currently engaged in entrepreneurship, one in fourteen adults
aspires to start a business in the near future. While this is a high absolute number, Ireland ranks 19
th
of
25 European countries in this regard. 42% of the population indicate that fear of failure would prevent
them from becoming an entrepreneur, though this sentiment is commonly reported across European
countries.
Opportunities and motivation: Only half the population consider starting a business a good career
choice, with just one third perceiving good opportunities to start a business. The rate at which Irish
people perceive opportunities declined sharply during the recession and the rate is slowly increasing
again. Compared to other European countries, Ireland is ranked 13
th
of 25 countries in this regard. A
relatively high number of early stage entrepreneurs (30%) report that they are motivated by necessity-
that is they perceive no better alternative for employment.
Financing entrepreneurs: Availability and access to ?nance remains the constraint most frequently
mentioned by the panel of entrepreneurs and experts consulted in Ireland in 2014. For entrepreneurs,
informal venture capital is the most critical early source of funding. While the rate of informal investors
remains relatively low in Ireland (Ireland ranks 17
th
of 25 European countries), the average amount
being committed by each informal investor has increased. An average of €40,500 has been invested
by each informal investor in a new business started by someone else in the period 2011-2014. Ireland
ranks 7
th
of 25 European countries on the average amount invested. The great majority are investing
in a business being started by someone already known to them.
Government policies: Government policies are most frequently cited as fostering entrepreneurial
activity by the key informant panel of experts and entrepreneurs consulted in Ireland. The majority
(80%) believe that the support for new and growing ?rms is a high priority for Government.
Education and training: In general the experts and entrepreneurs consulted are not particularly
complementary about the level of entrepreneurial education delivered through the formal education
system. However, this is also the case in over half of the European countries. In Ireland, 16% of
adults report that they participated in training of this nature at primary or secondary school, with 20%
reporting that they participated in entrepreneurship training since leaving school. There is no signi?cant
difference in the rate of new business owners between those who had entrepreneurship training at
primary or secondary school and those who had not (3.2% versus 2.3%).
2
The average rate across Europe of male early stage entrepreneurs motivated by necessity is 22%.
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Entrepreneurship in Dublin and the rest of Ireland: In Dublin (city and county) more people see
opportunities for new businesses. However this is not associated with higher aspirations to start a
new business, nor is it associated with higher levels of entrepreneurial activity. There are fewer owner
managers of established businesses in Dublin relative to the rest of Ireland.
Insights from other countries
The stated ambition of the Taoiseach and the Government is that Ireland will be among the most
entrepreneurial nations in the world and acknowledged as a world class environment in which to
start and grow a business.
3
To achieve this aim the Minister for Jobs, Enterprise and Innovation
acknowledges that Ireland needs more entrepreneurs starting high quality new businesses that will
develop innovative products, conquer new markets and create more jobs.
4
GEM research is very helpful to policy makers in seeking to achieve these goals, as it helps to identify
which countries across Europe, North America and Asia & Oceania, among other comparable
countries, are performing particularly well in each of the relevant areas.
5
No one country performs exceptionally well across all headings. Section 5 highlights those countries
that may warrant further study by those interested in improving Ireland’s entrepreneurial performance
in terms of these stated policy objectives.
3
An Taoiseach, Enda Kenny, TD writing in the Forward to the National Policy Statement on Entrepreneurship in Ireland, September 2014, page 4.
4
Richard Bruton, TD, Minister for Jobs, Enterprise and Innovation writing in the Forward to the National Policy Statement on Entrepreneurship
in Ireland, September 2014, page 5.
5
The GEM research is carried out in exactly the same way in each of more than seventy economies participating in the cycle. Accordingly,
the results can be compared across countries and Ireland’s relative position ascertained. For the most part, the ?ndings are compared
with other developed countries, in particular with those who were included in the GEM 2014 research cycle from the European Union
and EFTA, North America and Asia & Oceania.
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2.1 MEASURING ENTREPRENEURSHIP
In this section an overview of entrepreneurship in Ireland in 2014 is presented. The rate of early stage
entrepreneurial activity and the rate of intrapreneurship is examined.
The information provided is based on GEM research, which draws on an analysis of the facts, views
and opinions gathered as part of an adult population study of 2,000 people, aged 18 to 64 inclusive,
which was undertaken in mid-year. GEM research is carried out in exactly the same way in each of
over seventy countries and economies participating in the cycle. Across these countries, over 206,000
people responded to the GEM survey. Accordingly, the results can be compared across countries and
Ireland’s relative position ascertained. Appendix 1 outlines in detail the GEM methodology.
In this report, the ?ndings are compared with other developed countries, in particular with those that
were included in the GEM 2014 research cycle from Europe, North America and Asia & Oceania.
The countries included are:
Europe (EU and EFTA): Austria, Belgium, Croatia, Denmark, Estonia, Finland, France, Germany,
Greece, Hungary, Ireland, Italy, Lithuania, Luxembourg, the Netherlands, Norway, Poland, Portugal,
Romania, Slovakia, Slovenia, Spain, Sweden, Switzerland, and the United Kingdom
North America: Canada and the United States
Asia & Oceania: Australia, Japan, Singapore and Taiwan
In respect of all relevant outcomes, comparative international tables have been compiled from the
adult population survey in each of these economies and are available in Section 7. The following
comparative tables may be of interest to the reader in connection with this section:
Rates of Activity
Table A Rates of entrepreneurship
Table B Rates of intrapreneurship
Table C Rates of aspiring entrepreneurs
Table D Business exits: rates and reasons
SECTION 2
ENTREPRENEURSHIP IN IRELAND IN 2014
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2.2 IRELAND’S RATE OF ENTREPRENEURSHIP – THE TEA INDEX
The TEA Index is a measure of early stage entrepreneurial activity, including those that have recently
started a business (new business owners) and those that are actively working on starting a new
business (nascent entrepreneurs).
6
Ireland’s TEA rate in 2014 was 6.5%. That is 6.5% of the adult population, aged between 18 and 64
(inclusive), reported that they were early stage entrepreneurs. The TEA rate declined in 2014 from
the high rate reported in 2013 (9.2%). At 6.5%, the 2014 rate in Ireland is more in line with the rates
recorded in the 2010-2012 period (Table 1).
Ireland is ranked 16
th
in Europe in 2014 in terms of the TEA Index. The rate of early stage entrepreneurial
activity is particularly high in the US (13.8%), Canada (13.0%) and Australia (13.1%), where it is more
than twice the rate reported for Ireland (Figure 1).
6
Section 3: Entrepreneurs in Ireland 2014 contains further detail on new business owners and nascent entrepreneurs.
7
In some instances, this rate is less than the combined totals for nascent and new business owners. This is because, in circumstances
where respondents qualify as both a nascent and a new business owner, they are counted only once in the Total Early Stage
Entrepreneurial Activity (TEA) Index.
8
The horizontal lines illustrate the margin of error. It is shorter in those countries with a larger survey, for example in Spain where 25,000
people were surveyed for the 2014 GEM adult population survey. In Ireland the GEM 2014 survey was of 2,000 people aged between
18 and 64. The margin of error in Ireland is +/- 1.1%.
TABLE 1: ENTREPRENEURSHIP IN IRELAND: 2010-2014
2010 2011 2012 2013 2014
TEA: early stage entrepreneurs
7
6.8% 7.3% 6.1% 9.2% 6.5%
Nascent entrepreneurs 4.4% 4.3% 3.9% 5.5% 4.4%
New business owners 2.6% 3.1% 2.3% 3.8% 2.5%
FIGURE 1: TEA INDEX RANKING
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2.3 INTRAPRENEURSHIP - ENTREPRENEURS WITHIN ORGANISATIONS
Not all entrepreneurship is carried out by individuals acting on their own account. Intrapreneurs are
those that initiate new business activities within their current employment. Intrapreneurs have been
involved in the development of new activities for their employer, such as developing or launching new
goods or services, or setting up a business unit, a new establishment or subsidiary.
In Ireland, 6.7% of the adult population report that they have been involved in new activities for their
employer in the past three years. For those currently in employment the rate is higher (11.8%) (Table
2). Focusing on those that report they are currently involved in new activities for their employer, the
rate is 5.6% and 10.0% respectively.
Ireland is ranked 6
th
in the rate of intrapreneurship across Europe (Figure 2). This means that Ireland’s
rank in intrapreneurship is higher than its rank (16
th
)
in the TEA Index.
Countries differ in terms of the combinations of new business owners and intrapreneurs. For example,
Ireland has a similar rate of new business owners as Denmark (2.5%), but Denmark has a much
higher rate of intrapreneurship, (11.4%) compared to Ireland (6.7%). Denmark reports the highest rate
of intrapreneurship in Europe. Compared to the Netherlands and the UK, Ireland has a similar rate of
intrapreneurship, but a lower rate of new business owners (Table 2).
Considering only those in employment, the rate of intrapreneurship in Ireland is higher (11.8%) with
Ireland ranking 2
nd
to Denmark.
9
The horizontal lines illustrate the margin of error. In Ireland, the margin of error is +/- 1.1%.
TABLE 2: NEW BUSINESS OWNERS AND INTRAPRENEURS: SELECTED COUNTRIES
Ireland Denmark Netherlands UK
New business owners 2.5% 2.5% 4.5% 4.5%
Intrapreneurs (% of all adults) 6.7% 11.4% 7.0% 7.0%
Intrapreneurs (% of employed adults only) 11.8% 16.8% 9.4% 11.2%
FIGURE 2: INTRAPRENEURSHIP RANKING
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3.1 INTRODUCTION
GEM describes entrepreneurial activity as a process and measures different phases of this process
from conception through ?rm birth to persistence.
10
This section focuses in particular on nascent entrepreneurs (3.2) and new business owners (3.3), who
together make up total early stage entrepreneurial activity, and looks in some detail at each of these
categories to offer a greater understanding of each. Section 3.4 focuses on new business owners with
signi?cant growth potential.
The socio-demographic characteristics of early stage entrepreneurs are also examined with a
particular emphasis on age, with millennial entrepreneurs under the spotlight (3.5), and on gender,
with a particular focus on female entrepreneurs (3.6).
Established owner managers, those who have owned and managed a business for more than 42
months, represent persistence or survival beyond the TEA period. Details are given of their personal
characteristics and their growth aspirations (3.7).
In respect of all relevant outcomes, comparative international tables have been compiled from the
adult population survey in selected countries and are available in Section 7. The following comparative
tables may be of interest to the reader in connection with this section:
Characteristics of Early Stage Entrepreneurs
Table E Entrepreneurial teams
Table F Work and household income: early stage entrepreneurs
Table G Motives: early stage entrepreneurs
Table H Education level: early stage entrepreneurs
Table I Age: early stage entrepreneurs
Entrepreneurs with Signi?cant Growth Potential
Table J Growth aspirations: early stage entrepreneurs
Table K International orientation: early stage entrepreneurs
Table L Sector of activity: early stage entrepreneurs
Table M Innovativeness: early stage entrepreneurs
Men and Women
Table N Rates of entrepreneurship by gender
Table O Motives by gender: early stage entrepreneurs
Table P Personal context by gender: adult population
Established Owner Managers
Table Q Growth aspirations and international orientation: owner managers
Table R Sector of activity: owner managers
Table S Innovativeness: owner managers
Table T Education level and household Income: owner managers
Table U Age: owner managers
10
See Figure 3 in Appendix 1.
SECTION 3
ENTREPRENEURS IN IRELAND IN 2014
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3.2 NASCENT ENTREPRENEURS
What are nascent entrepreneurs doing?
Nascent entrepreneurs are those actively planning a new venture. These people have done something
during the previous twelve months to help start a new business, that he or she will at least part own.
If relevant, wages or salaries will not have been paid for more than three months in respect of the new
business. In 2014, nascent entrepreneurs in Ireland had spent, on average, 9 months working on the
new business/new business idea. One in four (26%) have been working on their new business for 3
months or less, one in ?ve (18%) for between 3 and 6 months, four in ten (39%) for between six and
twelve months, and nearly one in ?ve (17%) for over one year. Activities such as organising the start-up
team, looking for equipment, saving money for the start-up, or writing a business plan would all be
considered as active commitments to starting a business.
Most nascent entrepreneurs (83%) are in employment, which includes those who are working fulltime
(30%), part-time (10%), or are self-employed or employed in a family business (43%). The remainder
include students, retired, unemployed and home-makers (17%). Nearly a quarter of nascent
entrepreneurs (24%) has prior experience of entrepreneurship and may be considered to be a serial
entrepreneur.
11
About half of all nascent entrepreneurs (53%) expect to be the sole owner of the new business, with
about 47% expecting there to be more than one owner. In 2014 nascent entrepreneurs in Ireland were
focussed on ideas across a broad range of sectors: business orientated services (37%), transformative
sectors (30%), which include construction and manufacturing, consumer orientated services (28%),
and the extractive sector (5%).
How many nascent entrepreneurs are there in Ireland?
In Ireland, 4.4% of adults self-report that they are actively planning a new business. This equates
to about 127,000 people. The rate of nascent entrepreneurs declined in 2014 compared to 2013
and is more or less at the average of the years 2010-2012 inclusive (Table 3). Ireland is ranked 15
th
across Europe in terms of nascent entrepreneurs in the population and the rate in 2014 is close to the
European average (4.6%). The highest rate of nascent entrepreneurs in Europe is in Slovakia (6.7%),
followed by the UK and Estonia (6.3%). The rate of nascent entrepreneurs in the United States (9.7%)
is more than twice the Irish rate.
Personal characteristics of nascent entrepreneurs
The majority of nascent entrepreneurs in Ireland are motivated by positive reasons (77%), in that they
are driven by opportunity, as opposed to because they have no better choices for work. Positive
reasons include taking advantage of a business opportunity or having a job but seeking a better
opportunity. 23% of nascent entrepreneurs are motivated by necessity, in that they report they are
seeking to start a business because they have no better alternative.
The average age of a nascent entrepreneur is 39 years, though there is a wide range, from 19 to 63.
Nearly two-thirds (64%) are aged between 25 and 44. 68% of nascent entrepreneurs are men, while
32% are women. Most nascent entrepreneurs (80%) have a post Leaving Certi?cate quali?cation:
57% have a Degree or higher and 23% have a Diploma or Certi?cate. One in ten (10%) has Leaving
Certi?cate as highest form of education and one in ten (10%) has some secondary (Junior Certi?cate)
or vocational education. Most nascent entrepreneurs are in multiple person households, with 75% in
households of 3 or more, 19% in two-person households, and 6% in one-person households.
11
In that they are or have been an owner manager of a business, established or new, or they have exited a business in the past twelve
months. The business may have either closed or continued.
TABLE 3: NASCENT ENTREPRENEURS IN IRELAND: 2010-2014
2010 2011 2012 2013 2014
Nascent entrepreneurs 4.4% 4.3% 3.9% 5.5% 4.4%
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More details on the growth potential of these new businesses are contained in Section 3.4.
3.3 NEW BUSINESS OWNERS
What are new business owners doing?
New business owners are entrepreneurs who at least part own and manage a new business that
is between 4 and 42 months old and have not paid salaries for longer than this period. These new
ventures are in the ?rst 42 months after the new venture has been set up. Two thirds of all new
business owners (68%) are the sole owner of the new business, with 32% reporting that they are
one of several owners. The average number of new business owners in the founding team is broadly
similar in Ireland (1.5) to the UK (1.6) and across Europe (1.7).
In 2014 new business owners in Ireland were active across a broad range of sectors: business
orientated services (36%), consumer orientated services (30%), transformative sectors (24%) which
include construction and manufacturing, and extractive sectors (10%).
12
How many new business owners in Ireland?
The rate of new business owners in Ireland in 2014 was 2.5% of the adult population. This is
approximately 20,400 people. The number of new businesses started in Ireland in 2014 is less than
this number, as many new businesses have more than one owner. Similar to nascent entrepreneurs,
the rate of new business owners declined in Ireland in 2014 compared to 2013, and is more or less at
the average of the years 2010-2012 inclusive (Table 4).
Ireland is ranked 15
th
across Europe in terms of new business owners in the population and the rate
in 2014 is lower than the European average (3.2%). The rate of new business owners in Europe is
highest in Romania (6.2%), Lithuania (5.3%), followed by the UK and the Netherlands (4.5%). The rate
of new business owners in Ireland is also considerably behind the rate in North America (Canada 5.6%
and the United States 4.3%) and in Asia & Oceania (Australia 5.7%, Singapore 4.8%, and Taiwan
4.1%) with the exception of Japan (1.3%).
Personal characteristics of new business owners
The majority of new business owners in Ireland are motivated by opportunity (61%), in that they are
driven by opportunity, as opposed to ?nding no other option for work. A signi?cant minority, however,
report that they started a new business because they had no better alternative (39%).
The average age of a new business owner is 40 years, though there is a wide range, from 19 to
64. Nearly two-thirds (62%) are aged between 25 and 44. 70% of new business owners are men,
while 30% are women. Three quarters of new business owners (76%) have a post Leaving Certi?cate
quali?cation: 53% has a Degree or higher and 23% has a Diploma or Certi?cate, with 4% having the
Leaving Certi?cate as highest form of education. One in ten (10%) has vocational education and one
in ten (10%) has some secondary (Junior Certi?cate) as their highest education. Most new business
owners are from multiple person households, with 79% in households of three or more, 17% in two
person households, and 4% in one-person households.
TABLE 4: NEW BUSINESS OWNERS IN IRELAND: 2010-2014
2010 2011 2012 2013 2014
New business owners 2.6% 3.1% 2.3% 3.8% 2.5%
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3.4 NEW BUSINESS OWNERS WITH SIGNIFICANT GROWTH POTENTIAL
The potential impact of new businesses can be measured in terms of three factors: the growth
aspirations of the new business owners, the international orientation of the new business and the
degree of innovation.
The majority of new business owners are not currently employers with 64% reporting that they have no
employees. However, three quarters (74%) of all new business owners expect to be employers within
the next ?ve years. Over this period, one in four (26%) expect that they will remain self-employed with
no employees. 16% of all new business owners expects high employment growth, leading to twenty
or more jobs within the next ?ve years (Table 5). 1.5% of new business owners currently have twenty
or more employees.
One third (32.5%) of new business owners have no international customers as they focus exclusively
on the Irish market. While 67.5% of new businesses have international customers, just 27% have more
than a quarter of their customers in overseas markets. New businesses that are highly international
from birth are referred to as ‘born global’. One in eight of new businesses (12.5%) report that 75% of
their sales are in international markets (Table 6). Just about half of all new business owners (51%) are
using the internet to sell their product or service.
The innovativeness of the new businesses can be measured in terms of a range of dimensions: sector,
new products, new markets, and new technologies (Table 7).
Sector: The majority (85%) of these new business owners are operating in low or non-tech sectors.
However, 15% are in medium or high-tech sectors.
13
New products: Nearly one in two (46%) of these business owners have products/services that the
entrepreneur considers are new to all or many customers.
New markets: One in every two new business owners (52%) is in a new market, reporting that they
have few or no competitors.
New technologies: One in every three new business owners (30%) is using new technologies (de?ned
as technology that is less than 5 years old).
TABLE 5: GROWTH ASPIRATIONS: NEW BUSINESS OWNERS
Growth expectations Percentage of
new business owners
Any jobs now or within the next 5 years 74%
More than 10 jobs, and 50% growth in jobs, within the next 5 years 23%
Twenty or more jobs within the next 5 years 16%
TABLE 6: CUSTOMERS IN OVERSEAS MARKETS: NEW BUSINESS OWNERS
Customers in overseas markets Percentage of
new business owners
No customers in overseas markets 32.5%
1% to 24% customers in overseas markets 40.5%
25% to 74% customers in overseas markets 14.5%
75% to 100% customers in overseas markets 12.5%
13
The technology categories are based on OECD de?nitions. The rate of new business owners operating in medium to high-tech sectors
is higher (15%) than the rate that early stage entrepreneurs are operating in these sectors (9%).
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Combining these measures provides a ‘Market Expansion’ Index. This highlights how a very small
number of new businesses are entering new markets with new products based on new technology
(5%) and how most new businesses (59%) are pursuing opportunities based on existing products/
services, existing markets and existing technologies (Table 8).
TABLE 7: INNOVATIVENESS: NEW BUSINESSES
Innovativeness Percentage of
new business owners
Novelty of product/service
Product/service is new to no customers 54%
Product/service is new to some customers 28%
Product/service is new to all customers 18%
Extent of competition (newness of market)
Many businesses offer the same product/service to potential customers 48%
Few businesses offer the same product/service to potential customers 46%
No business offers the same product/service to potential customers 6%
Technology
Business uses technology that is 5+ years old 70%
Business uses technology that is between 1 to 5 years 25%
Business uses technology less than 1 year old 5%
TABLE 8: MARKET EXPANSION INDEX: NEW BUSINESS OWNERS
Market expansion index Percentage of
new business owners
No market expansion 59%
Some market expansion but no new technologies 36%
Some market expansion and new technologies 4%
Profound (market expansion and the latest technology) 1%
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3.5 MILLENNIALS – YOUNG ENTREPRENEURS
This section explores the entrepreneurial attitudes and activity of millennials, those born between 1980
and 1996 (so aged between 18 and 34 in 2014), contrasting them with those aged between 35 and
50, and those aged 50 to 64. In summary, more millennials see opportunities to start a business and
millennials have a higher aspiration to start a business. However, there are no differences in levels of
new business owners among millennials relative to the other age groups.
Aspirations and activity
One in eleven (9.5%) millennials, that are not currently active as entrepreneurs, aspire to start a
business in the next 3 years. This compares to about one in fourteen for those aged 35 to 50 (6.9%),
and to one in twenty six for those aged 50 to 64 (3.8%) (Table 9).
While millennials have a higher aspiration to start a new business in the next three years, they are
not more active as new business owners and are much less likely to be the owner manager of an
established business, a business that is more than 42 months old.
Attitudes and perceptions
Compared to the other age groups, more millennials believe that successful entrepreneurs have a
high status (82%) and that entrepreneurship is a good career choice (52%) (Table 10). One in ?ve has
received some entrepreneurial education while at school (22%).
The higher aspiration to start a business may be related to more millennials perceiving opportunities to
start a new business (37%) and to knowing a recent entrepreneur (42%). They report the highest rate
of fear of failure (46%), however, across all the age groups.
Those in the oldest age group, 50-64 years, have the highest rate of perception of good media
coverage for entrepreneurs (80%), are the least inhibited through fear of failure from starting a business
(35%) but report the lowest rate of perceiving entrepreneurial opportunities (29%).
TABLE 10: CULTURE, PERSONAL CONTEXT AND ENTREPRENEURSHIP TRAINING: MILLENNIALS
Perceptions and experiences Aged 18-34 Aged 35-50 Aged 50-64
of the populatuion (millennials)
Success at entrepreneurship has high status 82% 71% 77%
Entrepreneurship is a good career choice 52% 47% 49%
Supportive media coverage of entrepreneurs 75% 73% 80%
Opportunities to start a business 37% 33% 29%
Know a recent entrepreneur 42% 37% 27%
Skills and knowledge to start a business 44% 52% 46%
Fear of failure would prevent starting a business 46% 44% 35%
Participated in training on starting a business at primary or secondary school 22% 12% 10%
Participated in training on starting a business after completing school 17% 22% 23%
TABLE 9: ENTREPRENEURIAL ASPIRATIONS AND ACTIVITIES: MILLENNIALS
Aged 18-34 Aged 35-50 Aged 50-64
(millennials)
Aspire to start a new business
#
9.5% 6.9% 3.8%
Total early stage entrepreneurs 7.5% 6.3% 5.1%
Nascent entrepreneurs 5.4% 3.6% 3.6%
New business owners 2.4% 2.8% 2.3%
Owner managers of established businesses 2.3% 15.5% 14.8%
#
excluding those currently active as entrepreneurs
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3.6 FEMALE ENTREPRENEURS
The relative untapped entrepreneurial potential of women has been recognised for many years at
national level and a range of measures have been introduced to encourage more entrepreneurial
activity among women.
Entrepreneurial activity by women
In Ireland the rate at which both men and women were involved in early stage entrepreneurial activity
rose sharply in 2013. The levels reported in 2014 show a return to the levels observed in the years
2010 to 2012 inclusive (Table 11). As the rate of entrepreneurship by men and by women declined in
2014, the rate at which men compared to women were involved as early stage entrepreneurs (2.1:1),
is similar to that observed in 2012.
The proportion of women involved as new business owners is particularly low in 2014 (1.4%), while
the rate of women as nascent entrepreneurs showed less of a steep decline.
There has always been a relatively high rate of owner mangers of established businesses in the
population in Ireland. This rate increased in 2014 in respect of both men and women (Table 11).
Necessity as a motivation for early stage entrepreneurial activity is relatively high in Ireland (30%). It
is lower among male entrepreneurs (26%) than it is for female entrepreneurs (39%). Necessity as a
motivation is considerably higher for females in Ireland compared to the average across Europe for
female entrepreneurs (26%).
Not all businesses whether new or established will be successful. Each year a certain rate of early
stage entrepreneurs and established owner managers will close a business. As in previous years, a
higher proportion of male compared to female entrepreneurs discontinued and exited a business in
2014 (2.0% compared to 0.3%).
Personal context
Potential entrepreneurs are found among both men and women in the general population. They may
never act on their entrepreneurial potential but they have certain aspects in their personal context
which makes them more likely to be future entrepreneurs than others in the population. They tend
TABLE 11: ENTREPRENEURSHIP BY GENDER: 2010-2014
2010 2011 2012 2013 2014
TEA: early stage entrepreneurs
Men 9.5% 10.3% 8.3% 12.1% 8.9%
Women 3.9% 4.2% 4.0% 6.4% 4.2%
Ratio Men: Women 2.4:1 2.5:1 2.1:1 1.9:1 2.1:1
Nascent entrepreneurs
Men 6.2% 5.9% 5.6% 8.0% 5.9%
Women 2.5% 2.6% 2.5% 3.2% 2.8%
Ratio Men: Women 2.5:1 2.3:1 2.2:1 2.5:1 2.1:1
New business owners
Men 3.6% 4.6% 2.8% 4.5% 3.5%
Women 1.5% 1.6% 1.8% 3.2% 1.4%
Ratio Men: Women 2.5:1 2.8:1 1.6:1 1.4:1 2.4:1
Owner managers of established businesses
Men 11.8% 10.9% 11.8% 11.4% 13.8%
Women 5.2% 5.0% 4.7% 3.6% 6.1%
Ratio Men: Women 2.3:1 2.2:1 2.5:1 3.2:1 2.3:1
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to know recent entrepreneurs, are alert to enterprising opportunities in their environment, believe
that they have the knowledge and skills to start and successfully run a new business and are less
susceptible to being deterred by fear of failure.
In respect of each of these factors men in Ireland report more favourable rates than do women. This is
not unique to Ireland, as it is to be observed in virtually every country. In respect of knowing a recent
entrepreneur, not only do men in Ireland report higher rates than do women (43% compared to 29%),
their rate is higher than the European average (36%) while that for women is at the European average
(29%). It is also higher than the rates for men reported across North America and Asia & Oceania.
The observation of enterprising opportunities declined for both men and women considerably during
the recession. This is slowly improving. In 2014, men in Ireland are reporting that they perceived
such opportunities (38%) at more or less the average rate observed across Europe (39%). This is
considerably behind the rate observed in Canada (57%), the US (53%) and Australia (50%). The rate at
which women in Ireland perceive enterprising opportunities (29%) is still behind the European average
(34%).
Even in those countries which have a much narrower ratio in the rates of male and female early stage
entrepreneurs, women in the general population report lower levels of con?dence in their perception
of having the skills and knowledge to start a business. Ireland is no exception – 58% of men in the
general adult population perceive that they have the necessary skills compared to 37% of women.
Both rates are higher, however, than the respective European averages (50% and 33%).
Fear of failure as a deterrent to starting a business is present to some extent in every country, even
among those with relatively high rates of early stage entrepreneurs. In general it is more evident among
women than it is among men. In Ireland 37% of men and 48% of women report that fear of failure
would act as a deterrent to engaging in entrepreneurship. These rates are lower, however, than the
European averages (41% and 51%).
The entrepreneurial intentions of women
As previously noted, the rate at which people in Ireland state an aspiration to become an entrepreneur
in the coming three years is low (7.2%) relative to the average across Europe (11.6%) and North
America (12.0%).
14
The rate, at which women in the general adult population are reporting a clear aspiration to become
an entrepreneur in the coming three years, while having fallen back from the level observed in 2013, is
at a relatively high level in Ireland (5.5%), compared to previous years. The rate, expressed as a ratio
between men and women, is relatively narrow (Table 12).
Sectoral focus
A much higher proportion of employed women (90%) compared to employed men (63%) in Ireland
are engaged in the services sector.
15
Accordingly it is not surprising that the majority of female early
stage entrepreneurs are focused on the services orientated sectors (73%) with relatively few engaged
in the transformative sector, which includes manufacturing and construction, or the extractive sector
(e.g. mining). Almost one third of early stage male entrepreneurs are engaged in the transformative
sector (Table 13).
TABLE 12: ASPIRING TO START A BUSINESS BY GENDER
Aspire to start a business Percentage of adults (excluding
within the next 3 years those already active as entrepreneurs)
Men 9.0%
Women 5.5%
Ratio Men: Women 1.6:1
14
The rates exclude those currently active as an entrepreneur. The rate across Asia & Oceania is higher than it is in Ireland in Australia
(10%), Singapore (9.4%), and Taiwan (25.6%). The rate in Japan is lower (2.5%).
15
CSO QNHS Q1 2015.
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Almost one in every two early stage female entrepreneurs is focused on consumer orientated services
(48%). This sector is of far less importance to male entrepreneurs (21%) for whom business orientated
services is the dominant sector (39%). More generally, the rate of early stage entrepreneurs involved
in consumer oriented services in Ireland (30%) is substantially below the European average (40%).
If one considers early stage entrepreneurs in Ireland as a group, a third are focused on business
orientated services (34%) which is just ahead of the European average (30%).
Growth aspirations
Policy makers in Ireland note that targeted actions have shown positive change in that there has been
a narrowing of the rates at which men and women are starting new businesses. The National Policy
Statement on Entrepreneurship in Ireland points to the next challenge. “The focus now must be to help
these young companies to realise their full potential to achieve signi?cant scale and become major
international businesses in markets across the globe.”
16
It has been observed for many years now that more male than female early stage entrepreneurs
expect to become an employer and have signi?cant growth aspirations for their new business. This is
also the case in 2014.
While the majority of both male and female entrepreneurs expect to become employers within the next
?ve years, there is a considerable difference in the rate between male and female entrepreneurs in this
regard (74% compared with 62%) (Table 14).
There is an even greater difference in the rate at which male and female entrepreneurs aspire to
achieve signi?cant growth, with almost one in three (32%) male entrepreneurs expecting to employ at
least ten within ?ve years, compared to one in six female entrepreneurs (17%). The gap widens further
as the growth aspiration increases.
16
September 2014, page 21.
TABLE 14: GROWTH ASPIRATIONS BY GENDER: EARLY STAGE ENTREPRENEURS
Growth expectations MEN WOMEN
early stage early stage
entrepreneurs entrepreneurs
Any jobs now or within the next 5 years 74% 62%
More than 10 jobs, and 50% growth in jobs, within the next 5 years 32% 17%
Twenty or more jobs within the next 5 years 16% 5%
TABLE 13: SECTOR OF ACTIVITY BY GENDER: EARLY STAGE ENTREPRENEURS
Sector of activity MEN WOMEN
early stage early stage
entrepreneurs entrepreneurs
Extractive 8% 7%
Transforming 32% 21%
Business Orientated Services 39% 25%
Consumer Orientated Services 21% 48%
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International orientation
Similar to the trend observed in 2013,
17
more than half of female early stage entrepreneurs are focused
entirely on the Irish market and have no customers in overseas markets (52%). In contrast just one
third of male entrepreneurs report that they have no export customers (33%) (Table 15).
The rate of businesses born global, that is having 75% or more of their customers in overseas markets,
has always been relatively small for both male and female entrepreneurs. 2014 is no exception, with
14% of male entrepreneurs and 2% of female entrepreneurs in this category.
Education and training
Male and female early stage entrepreneurs are highly educated, with 78% of all early stage entrepreneurs
having some level of post-secondary school education. Slightly lower rates of male compared to
female entrepreneurs have post-secondary education (77% compared to 81%). Within this group,
however, a higher percent of male compared to female entrepreneurs have graduate education (15%
compared to 9%) (Table 16).
In the general population, an equal proportion of men and women have taken part in entrepreneurial
training during their primary and secondary schooling (15%), while more men than women have
participated in such training after they ?nished school (24% compared to 17%).
TABLE 15: CUSTOMERS IN OVERSEAS MARKETS BY GENDER: EARLY STAGE ENTREPRENEURS
Customers in overseas markets MEN WOMEN
early stage early stage
entrepreneurs entrepreneurs
No customers in overseas markets 33% 52%
1% to 24% customers in overseas markets 40% 29%
25% to 74% customers in overseas markets 13% 17%
75% to 100% customers in overseas markets 14% 2%
TABLE 16: HIGHEST EDUCATION ATTAINMENT LEVEL BY GENDER: EARLY STAGE ENTREPRENEURS
Highest education attainment MEN WOMEN
early stage early stage
entrepreneurs entrepreneurs
Primary and/or some secondary 8% 5%
Secondary school 15% 14%
Post-secondary 62% 72%
Graduate education 15% 9%
17
In 2013, GEM reported that 58% of female early stage entrepreneurs in Ireland had no customers in overseas markets compared to
32% for male entrepreneurs.
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3.7 OWNER MANAGERS OF ESTABLISHED BUSINESSES
Established owner managers are those who have owned and managed a business that is more
than 42 months old. In 2014, the rate of owner managers in Ireland (9.9%) is high compared to the
average across Europe (6.7%).
18
Ireland is ranked 2
nd
in Europe with Austria. The Netherlands (9.6%)
and Switzerland (9.1%) also have broadly similar rates to Ireland. The country with the highest rate of
established owner managers in Europe is Greece (12.8%).
In North America, Canada (9.4%) has a broadly similar rate of established own managers to Ireland,
while the rate in the United States is lower (6.9%). In Asia & Oceania, the rate of owner managers in
Taiwan (12.2%) is very high, while Australia has a similar rate to Ireland (9.9%).
19
Two thirds of owner managers are aged between 35 and 54, with a quarter aged between 55 and
64. There are very few in the younger age groups.
20
Owner managers in Ireland have a range of
educational attainment levels from those with just some secondary education (9.9% of adults in this
attainment level category), to those who have completed secondary school (8.9%), to those with
post-secondary education (11%). The rate of owner managers of established businesses among
graduates is lower in Ireland (7.3%), than it is across Europe (9%).
Across Europe, the rate of established owner managers is broadly similar to Ireland in Austria,
Switzerland and the Netherlands. In Austria and Switzerland, however, a higher rate of graduates are
established owner managers (12.9% and 16.2%).
21
This is also the case in Canada and Australia,
which were observed to have a broadly similar rate of owner managers of established businesses as
Ireland. The rate of owner managers among graduates is higher (12.4% and 14% respectively) than
it is in Ireland.
Owner managers of established business in Ireland are engaged in a board range of sectors -
extractives sectors (27%), transformative sectors (29%), business orientated service sectors (26%)
and consumer orientated sectors (18%). The rate of owner managers engaged in the transformative
sector and businesses orientated services sectors is at the European average. The rate of those
engaged in extractive sectors is higher in Ireland than the European average (14%), while the rate
engaged in consumer orientated services in Ireland is below the European average (30%).
Just 2% of owner managers of established businesses expect to create ten or more jobs within the
next ?ve years.
More than half of owner managers (59%) have some customers in international markets and 20%
have a quarter or more of their customers outside the country. The rate of international businesses,
that is having 75% or more of their customers in overseas markets, is small with just 9% of owner
managers in this category.
Sector: The majority (93%) of owner managers of established businesses are operating in low or
non-tech sectors.
22
7% of owner managers report that they are operating in medium or high-tech
sectors.
23
New products: 17% of these owner managers have products/services that are new to all or many
customers.
New markets: One in every three owner managers (32%) is in a new market, reporting that they have
few or no competitors.
New technologies: 13% of owner managers are using new technologies (de?ned as technology that
is less than 5 years old.).
18
The rates in previous years were 7.5% (2013), 8.3% (2012), 8.0% (2011) and 8.6% (2010).
19
The rate in Singapore is particularly low (2.9%). While the rate in Japan is high (7.2%), given the relatively low TEA rates in that country
over many years.
20
Of owner managers 3% are aged 18-24, 6% are aged 25-34, 34% are aged 35-44, 33% are aged 45-54 and 23% are aged 55-64.
21
Comparable ?gures are not available for the Netherlands.
22
The technology categories are based on OECD de?nitions.
23
This compares with 9% for early stage entrepreneurs and 15% for new business owners.
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Combining measures of innovation to provide a ‘Market Expansion’ Index highlights that new business
owners are more innovative than owner managers of established businesses. Eight in every ten
(82%) owner managers report that their businesses are based on existing products/services, existing
markets and existing technologies, compared to 59% of new business owners (Table 17).
TABLE 17: MARKET EXPANSION INDEX: OWNER MANAGERS AND NEW BUSINESS OWNERS
Market expansion index Owner managers New
of established business
businesses owners
No market expansion 82% 59%
Some market expansion but no new technologies 16% 36%
Some market expansion and new technologies 1% 4%
Profound (market expansion and the latest technology) 1% 1%
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SECTION 4
IRELAND’S ENTREPRENEURIAL ECO-SYSTEM
4.1 THE POLICY CONTEXT
According to Richard Bruton, TD, Minister for Jobs, Enterprise and Innovation, “We know that it is
individuals and not government that establish new businesses, but what Government can do is remove
barriers and support an environment where more businesses can start and growth.”
24
Accordingly, the
Government is committed to building an eco-system, which is supportive of entrepreneurial activity.
In each country, as part of the research cycle, GEM national teams capture the informed judgments
of key informants
25
regarding the entrepreneurship eco-system in their country. Members of the
population through the adult population survey are also asked for their opinion in respect of various
aspects of the eco-system, particularly around culture and societal support. The adult population
survey also identi?es the rate of informal investors within the general population and their level of
investment. Aspects of the eco-system studied in GEM are as follows:
i. Finance: ?nancial environment related to entrepreneurship
ii. Government policies
iii. Government programmes
iv. Education and Training
a) Level of entrepreneurial education at primary and secondary school
b) Level of entrepreneurial education at vocational, professional, college and university
v. R&D transfer
vi. Professional and commercial infrastructure
vii. Markets
a) Internal market dynamics
b) Internal market burdens
viii. Physical infrastructures and services
ix. Cultural, social norms and society support.
From these insights aspects of the entrepreneurship eco-system can be identi?ed in which Ireland has
a perceived strength in terms of fostering entrepreneurship, and aspects that constrain entrepreneurial
activity. This section gives insights into the key strengths and constraints identi?ed in the eco-system
in Ireland in 2014. Some aspects of the eco-system, such as government policies and education and
training, are considered both a strength and a weakness, as some aspects of each are perceived as
fostering entrepreneurial activity and some constraining.
In respect of all relevant outcomes, comparative international tables have been compiled from the
adult population survey in selected countries and are available in Section 7. The following comparative
tables may be of interest to the reader in connection with this section:
Attitudes and Perceptions in the Adult Population
Table V ‘Culture’ perceptions: adult population
Table W Personal context: adult population
Informal Investment Activity
Table X Informal investors: rates and amounts
24
Writing in the Foreword of the GEM 2013 Report for Ireland, June 2014.
25
There are 40 experts and entrepreneurs on the 2014 Irish GEM key informant panel. 58% of these are entrepreneurs. The others are
experts drawn from across academia and from the public and private sectors. All are well informed in the area and have considerable
experience in dealing with entrepreneurs and their new ventures and the eco-system that impacts on them.
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4.2 STRENGTHS IN THE ECO-SYSTEM
26
Cultural, social norms and societal support
Many countries and regions talk of the desirability of having an entrepreneurial culture - an environment
where entrepreneurship is respected and fostered. Where this is not present in a country, it is always
challenging for the Government and policy makers to foster it.
Ireland’s standing in terms of a generally supportive culture and social norms has always been reported
by GEM as being relatively high and this continues in 2014. Looking at the trend over time, the status
of entrepreneurs has always been high and the perception of positive stories in the media is once
again on the rise after falling during the recession.
The GEM survey gives good insights into Ireland‘s relative strengths in this area. The status of
successful entrepreneurs in Ireland is high. 77% of the population report that successful entrepreneurs
are well regarded. This is the third highest in Europe, after Finland (84%) and Germany (79%). In the
US the rate is 77%. There is good media coverage of entrepreneurs. The majority of the population in
Ireland (76%) report that they regularly see positive stories about entrepreneurs in the media. This rate
is the highest across Europe and is the same as that in the US. In Finland, the rate is also high 67%,
but in Germany it is just 51%.
Government policies
Most of the experts and entrepreneurs believed that the support for new and growing ?rms is a high
priority for Government
27
and this area was most frequently cited in a positive manner by the key
informant panel.
28
In response to an open question, mention is made in particular of the spotlight
on entrepreneurship that was signi?ed by the Government’s publication of the National Policy
Statement on Entrepreneurship in Ireland in September 2014 and by the earlier establishment of the
Entrepreneurship Forum, chaired by an entrepreneur, whose ?ndings and recommendations informed
the Government’s entrepreneurship strategy, as outlined in the policy statement. The Action Plan
for Jobs 2014 published by the Government included a spotlight on entrepreneurship as one of
three disruptive reforms that were introduced. The Government’s focus on underrepresented groups,
particularly women and youth, is also singled out for positive comment by those consulted.
Government programmes
Among the experts and entrepreneurs consulted, just over half indicated that they considered there
is an adequate number of Government programmes for new and growing businesses.
29
Of those that
considered there were an adequate number of Government supported programmes, 68% thought
that they were effective.
From their commentary to open questions, it is evident that Enterprise Ireland and the Local Enterprise
Of?ces are perceived to be supportive of the efforts of entrepreneurs. Their training programmes
aimed at early stage entrepreneurs are mentioned by name - the New Frontiers programme, Enterprise
Ireland’s national entrepreneur development programme for innovative, early-stage start-ups,
30
and
The Start Your Own Business programme run by the Local Enterprise Of?ces.
31
The programmes
run by the National Digital Research Centre (NDRC) are also mentioned, as is the Going for Growth
initiative, which is designed to support ambitious female entrepreneurs to reach their growth goals.
32
Of the experts and entrepreneurs consulted, two thirds considered that business incubators were providing
effective support for new and growing ?rms. Less positively, only 32% considered that a wide range of
government assistance for new and growing ?rms could be obtained through contact with a single agency.
26
In most economies participating in the 2014 GEM survey, the factors most positively commented upon are physical infrastructure and
commercial infrastructure.
27
Those returning a score of 4 or over out of 5, with 5 being the most positive, to this question.
28
The open question ascertained their views in respect of the factors which fostered entrepreneurial activity in Ireland.
29
54% of respondents returned a score of 4 or over out of 5.
30
New Frontiers is a three-phased programme, based in 14 campus incubation centres across the country.
31
The Start You Own Business programme is run by the LEOs at county level. The programme is aimed at those who have recently set up their
own business or those who are considering self-employment for the ?rst time. The course aims to take participants through everything they
need to know to get started and to prepare early stage entrepreneurs for the challenges they will face in the ?rst year in business.
32
Going for Growth receives support from the Department of Justice and Equality, the European Social Fund, Enterprise Ireland as well as
from KPMG and other corporate supporters.
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In most economies participating in the 2014 GEM survey, key informants consulted gave the lowest evaluation to primary and secondary
education, government policies toward regulation and access to ?nance.
34
The comparable rates in recent years are 46% (2011), 45% (2012) and 43% (2013).
35
The rate was 28% in 2013, and 26% in both 2012 and 2011.
4.3 CONSTRAINTS IN THE ECO-SYSTEM
33
Self-con?dence, aspirations to entrepreneurship and fear of failure
Many people in the general population have the potential to become entrepreneurs. Certain aspects
of an individual’s personal context may make them more likely than others to choose to become an
entrepreneur. These include factors such as self-belief that they have the knowledge and skills to start
and successfully run a new business and knowing an entrepreneurial role model.
Almost half of the population in Ireland perceives that they have the knowledge and skills to successful
start a business (47%). This rate does not vary signi?cantly year on year.
34
This is higher than the
European average (42%) and is similar to Canada (49%) and Australia (46%). More con?dence is
expressed across the adult population in the United States (53%). However, high rates of entrepreneurial
activity occur in countries with much lower levels of expressed self-con?dence in entrepreneurial
knowledge and skills. For example, Singapore and Taiwan have high rates of early stage entrepreneurial
activity (11.0% and 8.5% respectively), simultaneously with low levels of self-belief (21% and 29%
respectively).
Furthermore, among the general population in Ireland more than one in three knows another individual
who started a business in the recent past (36%). In this measure, Ireland is just ahead of the European
average (33%) and placed joint 7
th
across Europe. The highest rates in Europe are observed in Finland
and Slovakia (43%) followed by Estonia (42%).
Among the general population in Ireland, there are more than 200,000 individuals, who are not
currently active as entrepreneurs, who report that they aspire to start a new business during the
next three years (7.2%). While this is a high absolute number, Ireland ranks just 19
th
of 25 European
countries in this respect.
Fear of failure as a deterrent to becoming active as an entrepreneur is evident even in the most
entrepreneurial countries. In Ireland 42% of the general population express such a sentiment.
This is below the European average (46%). In some countries with much high levels of early stage
entrepreneurial activity than Ireland, a relatively similar preponderance of fear of failure is reported
among the general population as it is in Ireland- Canada (39%), Australia (44%) and Taiwan (40%).
Even in those countries with the lowest rates expressing this inhibition, the United States and Norway,
one in three reports that fear of failure might deter them from becoming involved in a start-up.
Opportunities and motivation
Among the general population, one in three adults (33%) perceives that there are good opportunities
to start a business. This rate has increased in 2014,
35
but is still a long way from that observed in
2007 (46%). Despite the recent improvement in the rate of opportunity recognition, it is not high in a
European context, with Ireland ranking 13
th
of the 25 European countries. In Denmark (60%), Norway
(63%) and Sweden (70%) the rate is very much higher. In the US the rate is 51%.
When asked if entrepreneurship is a good career choice, about half of Irish people respond positively
(49%). This is low in a European context (Ireland is 18
th
of 23 European countries). Finland, at 41%,
and Germany at 52%, are also relatively low on this measure. In the US, where status of successful
entrepreneurs and media attention are similar to that in Ireland, there is a much higher percentage
of people who consider entrepreneurship as a desirable career choice (65%), compared to Ireland.
Looking at the trend over time the perception of entrepreneurship as a good career choice has not yet
recovered in Ireland to the very high levels reported in 2006 (70%) and earlier years.
A relatively high number of early stage entrepreneurs in Ireland (30%) report that they are motivated by
necessity - that is they perceive no better alternative for employment.
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Access and availability of ?nance
In response to an open question to ascertain their views as to constraining factors in the entrepreneurial
eco-system, three quarters of experts and entrepreneurs consulted in Ireland considered that the
prevailing ?nancial environment constrained entrepreneurial activity and two thirds of those surveyed
made a recommendation for improvements that could be made in this area.
36
Irish key informants
were particularly negative in terms of their view that there was not suf?cient debt funding available for
new and growing ?rms.
37
Most entrepreneurs use their own funds when starting a new business. The second most important
source of ?nance is so-called informal investment. Informal investors are not just high net-worth
investors (often referred to as Business Angels), but also include investments or funds provided to
individuals, involved in starting a business, by family, friends, and work colleagues.
As in previous years, the majority of informal investment of this nature is made to an individual who
is already known to the person providing the investment. In 2014 in Ireland, informal investors report
that their most recent investment is to a family member or relative (38%), a friend or neighbour (28%),
a stranger with a good business idea (18%), a current or past work colleague (14%), or some other
individual (2%). The experts and entrepreneurs consulted consider that there is not suf?cient funding
of this type available from private individuals for new and growing business.
38
In Ireland, 3.4% of the population have provided funds for another individual starting a business in the
past three years. The rate has remained fairly steady in Ireland in recent years. This rate is lower than
the European average (4.3%), with Ireland ranking joint 16
th
of the European countries in this respect.
The rate in the US, at 6.2%, is 1.8 times higher. As in previous years, in 2014 men in Ireland are much
more likely to be informal investors (4.6%) than are women (2.6%).
The average amount of funds Informal Investors provided to start-ups in the past 3 years is relatively
high, €40,500, when compared to the European average of €30,900 and the average in the US
(€37,200).
In response to the question as to whether there is suf?cient government subsidies available to new
and growing ?rms, a small majority of experts and entrepreneurs (53%) consulted consider this to be
the case.
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Government policies
While the Government’s focus on entrepreneurial activity is recognised as a strength in the eco-system
in Ireland, in response to open questions in this area the key informants say that they perceive certain
policy aspects to be constraining, in particular mention is made of public procurement, compliance
issues, the tax burden on the self-employment and the lack of any safety net should the business
fail. More than three quarters of the experts and entrepreneurs consulted consider that dealing
with government bureaucracy, regulations and licensing requirements is unduly dif?cult for new and
growing ?rms.
Education and training
Irish early stage entrepreneurs have a very high level of general education, with 78% reporting that
they have some post-secondary education. This is the highest level across the 25 European countries.
In general experts and entrepreneurs consulted are not particularly complementary, however, about
the level of entrepreneurial education delivered through the formal education system. Of the nine
framework conditions commented on by experts and entrepreneurs in Ireland, entrepreneurial
education at primary and secondary level was rated as the most weak.
40
However, this was also the
case in over half of the European countries. In the US, the experts and entrepreneurs consulted were
36
In general the experts and entrepreneurs consulted across Europe were very negative in respect of access and availability of ?nance for
new and growing businesses.
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Less than 10% gave a positive score (4 or 5), where 5 is the most positive score.
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32% of respondents returned a score of 4 or higher.
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53% of respondents gave a score of 4 or higher.
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Just 12% of respondents gave a score of 4 or higher.
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19% of respondents gave a score of 4 or higher.
equally of the view that teaching in primary and secondary level does not provide adequate attention
to entrepreneurship and new ?rm creation. The experts and entrepreneurs consulted in Ireland were
slightly more positive in their perception that students in post-secondary education, whether in the
vocational, professional, college or university systems, were receiving good and adequate preparation
for starting and growing new ?rms.
41
16% of the population in Ireland report that they have participated in training on starting a business
at primary or secondary school. 20% report that they participated in training on starting a business
since leaving school. Of those that are early stage entrepreneurs 22% report they had some training
in school, while 44% report that they participated in training on starting a business having completed
school (Table 18).
The TEA rate for those that participated in training in school is 9.1%, compared to 6.1% for those that
had not participated in training in school.
TABLE 18: PARTICIPATION IN TRAINING ON STARTING A BUSINESS
Participated in training on Adult Early stage
starting a business population entrepreneurs
At primary or secondary school 16% 22%
After completing school 20% 44%
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4.4 ENTREPRENEURSHIP IN DUBLIN AND THE REST OF IRELAND
Spotlight on Dublin and the regions
In the month of September 2014 the ?rst Dublin Commissioner for Start-ups was appointed
42
and the
National Policy Statement on Entrepreneurship in Ireland was published which contained a focus on
the regions.
The appointment of the Dublin Commissioner for Start-ups was a private sector initiative. The new
Commissioner is working in conjunction with Dublin City Council, Enterprise Ireland and the Local
Enterprise Of?ces. A key responsibility of the role is to develop international recognition of Dublin as
an innovation hub, where companies will start-up, scale faster and create long-term sustainable jobs
and added value to the economy. The objective is to make Dublin the best place in Europe to start and
grow a tech and innovative business.
The Government has committed itself to realise the potential of all of the regions in Ireland for
economic growth and employment creation. To this end, the 2015 Action Plan for Jobs places an
emphasis on developing the jobs potential of the regions. It includes a commitment to develop a
suite of Regional Action Plans for Jobs to support enterprise growth and jobs creation in the regions.
Like the national action plan, the regional APJs will set out a series of commitments on the part of
enterprise development agencies and public bodies, complemented by some actions from the private
sector, which will build on the strengths of each region, to support enterprise growth and job creation.
Further actions will be added on an ongoing basis, as new initiatives and commitments emerge,
re?ecting the dynamic nature of the new regional Action Plans.
The National Policy Statement stated that promoting entrepreneurship at local level was a key
objective and emphasised the role of the recently formed Local Enterprise Of?ces in this regard. In the
Action Plan for Jobs 2015, a focus on the regions was continued - “Delivering Regional Potential: ....
with funds being ear-marked to promote innovative collaborations to support entrepreneurship and
innovation in the regions, exploiting regional competitive advantage”.
43
To support regional enterprise development, the Government will provide up to €250 million over ?ve
years to support the implementation of the locally developed Regional Action Plans. This includes
the roll out of a ?ve year, €150 million property investment programme by IDA Ireland over the next
?ve years. A further sum of up to €100 million will be made available through Enterprise Ireland and
the Local Enterprise Of?ces over the next ?ve years, for three separate competitive calls for proposals
which will support innovative and collaborative approaches to support job creation across the regions
Entrepreneurship in Dublin and the rest of Ireland
In Dublin, much more people see opportunities for new businesses. However this is not associated
with higher aspirations to start a new business. It is also not the consequence of a more positive
entrepreneurial culture in Dublin, as people in Dublin have similar attitudes to entrepreneurs
44
(Table 19). The higher perception of opportunity in Dublin is also not associated with higher levels of
entrepreneurial activity. This is also the case for men and women in Dublin, compared to the rest of
Ireland.
There is a difference between Dublin and the rest of Ireland, however, in terms of the number of
established owner managers. There are fewer owner managers in Dublin, compared to the rest of
Ireland. The rate in Dublin (5.3%) is less than half of that in the rest of Ireland, 11.8% (Table 20).
42
Serial entrepreneur, Niamh Bushnell, was appointed as the ?rst Dublin Commissioner for Start-ups, a position which was funded privately
though the Dublin City University Ryan Academy for Entrepreneurs.
43
Action Plan for Jobs 2015, page 11.
44
In terms of perceptions of high status of successful entrepreneurs, whether entrepreneurship is a good career choice, and positive media
coverage of entrepreneurs.
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TABLE 19: CULTURE, PERSONAL CONTEXT AND ASPIRATIONS: DUBLIN AND THE REST OF IRELAND
Perceptions of the population Dublin Rest of
(City & County) Ireland
Success at entrepreneurship has high status 76% 77%
Entrepreneurship is a good career choice 51% 49%
Supportive media coverage of entrepreneurs 76% 75%
Opportunities to start a business 45% 29%
Know a recent entrepreneur 37% 35%
Skills and knowledge to start a business 46% 48%
Fear of failure would prevent starting a business 42% 43%
Aspiring to start a business within the next 3 years
#
6.9% 7.3%
# excluding those currently active as entrepreneurs
TABLE 20: ENTREPRENEURIAL ACTIVITY: DUBLIN AND THE REST OF IRELAND
Dublin Rest of
(City & County) Ireland
TEA: early stage entrepreneurs 6.7% 6.5%
Nascent entrepreneurs 4.8% 4.2%
New business owners 2.2% 2.5%
Owner managers of established business 5.3% 11.8%
Early stage entrepreneurs: Men 9.8% 8.5%
Early stage entrepreneurs: Women 3.7% 4.4%
Informal investors 3.9% 3.1%
Eco-system in Dublin and the regions
When consulted about the physical and service infrastructure, the panel of experts and entrepreneurs
consulted in Ireland were generally positive in respect of this aspect of the entrepreneurial eco-system.
It would appear, however, that Ireland has no comparative advantage with regard to this factor, as the
key informants in 22 of the 25 European countries had an equally high opinion about the physical and
services infrastructure in their country.
One in four of those consulted in Ireland, however, were of the opinion that this aspect of the eco-system
was constraining entrepreneurial activity. Mentioned speci?cally in this connection were factors that
particularly constrain entrepreneurial activity outside of Dublin: the lack of widespread broadband
access, poor infrastructure in rural areas and a perception that airline travel is centred on Dublin.
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SECTION 5
INSIGHTS FROM OTHER COUNTRIES
5.1 POLICY PRIORITIES
The stated ambition of the Taoiseach and the Government is that Ireland will be among the most
entrepreneurial nations in the world and acknowledged as a world class environment in which to
start and grow a business.
45
To achieve this aim the Minister for Jobs, Enterprise and Innovation
acknowledges that Ireland needs more entrepreneurs starting high quality new businesses that will
develop innovative products, conquer new markets and create more jobs.
46
There is a clear recognition that while all entrepreneurs make a contribution, certain entrepreneurs are
of particular strategic economic importance as their new businesses will have a disproportionately
positive economic impact due to their ability to exploit new technologies, their degree of innovation,
their export orientation and their aspirations for growth.
47
With the availability and access to ?nance continuing to feature as a major constraint,
48
for this reason
the prevalence of individuals within the general population who are willing to invest in new businesses,
started by someone else, is also important.
There is also a focus on increasing the gender balance and in encouraging more young people to
become involved in setting up businesses.
As GEM research is carried out in exactly the same way in each of the seventy economies participating
in the cycle, the results can be compared across countries and Ireland’s relative position ascertained.
For the most part, the ?ndings are compared with other developed countries, in particular with those
who were included in the GEM 2014 research cycle from the European Union and EFTA, North
America and Asia & Oceania.
For this reason GEM research is very helpful to policy makers in seeking to achieve these goals, as it
helps to identify which countries among other comparable countries, are performing particularly well
in each of these areas. No one country performs exceptionally well in all areas. This section highlights
those countries that may warrant further study by those interested in improving Ireland’s performance
in the following stated policy priorities:
• Maximising impact
- High potential entrepreneurship, characterised by growth aspiration, innovation, export orientation
- Improved survival rate
• Financing new business- informal investors
• ‘Missing entrepreneurs’
- Female entrepreneurs
- Young entrepreneurs
45
An Taoiseach, Enda Kenny, TD writing in the Forward to the National Policy Statement on Entrepreneurship in Ireland, September 2014,
page 4.
46
Richard Bruton, TD, Minister for Jobs, Enterprise and Innovation writing in the Forward to the National Policy Statement on Entrepreneurship
in Ireland, September 2014, page 5.
47
Action Plan for Jobs, 2014, page 20.
48
Challenges around the availability and access to ?nance was the most frequently mentioned as a constraint by the panel of experts and
entrepreneurs consulted as part of the GEM research in Ireland in 2014.
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5.2 MAXIMISING IMPACT
High growth new businesses
The focus on the employment impact of early stage businesses brings the policy focus beyond the
number starting new businesses to those who are starting new businesses with the potential to grow.
Those new businesses that can grow in export markets are considered to be particularly attractive
and are to be encouraged.
It is interesting to note that while both the UK and the Netherlands rank ahead of Ireland in terms of
the rate of early stage entrepreneurial activity (10.7% and 9.5% respectively compared to 6.5% for
Ireland), very many of the early stage entrepreneurs in those countries expect to merely create a job
for themselves, as opposed to becoming an employer of others.
If we examine the TEA rate in terms of those that are or expect to become employers, we see a
signi?cant narrowing of the rate between these countries. If we exclude those who do not expect
to become employers, the rates in UK, the Netherlands and Ireland become 6.1%, 5.4%, and 4.6%
respectively. The average across Europe is 5.5%. The reason for this is that in both the UK and the
Netherlands, a relatively low rate (57%) of early stage entrepreneurs expect to become employers,
compared to 70% in Ireland. The average across Europe is 71%.
In all three countries, the majority of early stage entrepreneurs who become employers expect to
employ less than ten and their new business to remain as a microenterprise within the next ?ve years.
However, in Ireland a higher proportion expect to employ ten or more within the next ?ve years (27%),
compared to either the UK (19%) or the Netherlands (8%). In terms of the proportion of early stage
entrepreneurs with an expectation of employing 20 or more within the next ?ve years, Ireland and the
UK, have a higher proportion of such entrepreneurs (12%), than has the Netherlands (7%).
49
The rate of early stage entrepreneurial activity continues to be very strong in North America and
Australia, both in terms of the rate of early stage entrepreneurial activity
50
and in the rate of those
predicting signi?cant growth for their new business.
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Eastern Europe is also worthy of examination as
several countries have high rates of entrepreneurial activity, alongside high employment expectation.
The Eastern European countries of Romania, Lithuania and Slovakia have the highest TEA rates
across Europe (11.3%, 11.3% and 10.9% respectively). They also have high proportions of early
stage entrepreneurs that expect to become employers (80%, 79% and 73%). Romania and Slovakia
also have a high rate of early stage entrepreneurs who expect to employ 20 or more within the next
?ve years – 20%, and 18%. This compares with 12% of early stage entrepreneurs in Ireland who have
signi?cant growth aspirations.
Export oriented new businesses
Irish policy makers are clear about their wish to see more new businesses being focused on
international markets to achieve growth, given the limited size of the Irish market. “There will also be a
step up in ambition for the starting of export orientated companies and measures to see them more
successfully grow in scale”.
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In Ireland more than half of early stage entrepreneurs (60%) have some customers outside the country.
This is in or about the European average (63%). The UK and the Netherlands, which were noted earlier
as having high rates of early stage entrepreneurial activity, have lower proportions of entrepreneurs
with customers in international markets (40% and 51% respectively).
A higher percentage of early stage entrepreneurs in Ireland (10%) have 75% or more of their customers
in international markets, compared to the UK (6%) and the Netherlands (7%). The rate among early
stage entrepreneurs in the US, Canada and Australia is also less than in Ireland (7%, 5%, and 4%
respectively).
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Because of the overall higher rate of early stage entrepreneurial activity in the UK compared to Ireland, 1.3% of the adult population in
the UK are early stage entrepreneurs, who expect to become signi?cant employers, and employ 20 or more within the next ?ve years,
compared to 0.8% in Ireland.
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The rate of early stage entrepreneurial activity is 13.8% in the US, 13.0% in Canada and 13.1% in Australia.
51
The rate of early stage entrepreneurs who expect to be signi?cant employers and employ 20 or more within the next ?ve years is 21%
in the US, 14% in Canada and 11% in Australia.
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Action Plan for Jobs, 2015, page 13.
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Among the early stage entrepreneurs in Lithuania, 12% expect to employ 20 or more within ?ve years.
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The rate of early stage entrepreneurs in Canada (27%) and Australia (26%) reporting that are using new technology is lower than in
Ireland (32%) and the European average (32%).
A country in Europe to highlight here is Sweden. While the rate of early stage entrepreneurial activity
in that country (6.7%) is similar to Ireland (6.5%), a higher proportion have some customers outside
the country (66% compared to 60%) and a high rate already have 75% or more of their customers in
international markets (14% compared to 10% in Ireland).
It is in Eastern Europe that one ?nds countries in which there is both a high rate of early stage
entrepreneurial activity, together with a signi?cant international orientation. In Lithuania, for example,
there is a high rate of early stage entrepreneurial activity (11.3%), with high growth expectations
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and
a very signi?cant international orientation. 17% of early stage entrepreneurs in that country have more
than 75% of their customers outside the country.
Innovation driven new businesses
GEM reports on indicators of innovation. The indicators it focuses on are the relative novelty of the
product or service offered, the number of competitor businesses offering the same product or service,
the use of relatively new technology and whether the business can be considered in a high-tech sector.
New products: In Ireland, 15% of early stage entrepreneurs consider that their product or service is
new to all customers. This is more or less at the European average (16%). The countries that stand out
in Europe, in respect of their entrepreneurs’ perception of the novelty of their offering, are Italy (31%),
Denmark (26%) the Netherlands (24%) and France (24%). These high rates are well ahead of the US
(18%), Canada (18%) and Australia (15%). Taiwan, however, stands alone. Over half of early stage
entrepreneurs in that economy consider that their product or service is new to all customers (52%).
New markets: In terms of the newness of the market, 14% of early stage entrepreneurs in Ireland
consider that no other business offers the same product or service. This is slightly higher than the
average across Europe (11%). The rates of early stage entrepreneurs reporting that there are no
competitors for their product or service are highest in France (22%), Denmark (19%) and Norway
(17%). The rate in Taiwan is similar to Ireland (14%).
New Technologies: In respect of the technology which their new business will use, one in ten (10%)
early stage entrepreneurs in Ireland report that they are using the very latest technology, which was
not available one year before. The rates in Slovakia (24%), France (22%) and Greece (21%) are high. A
high rate of early stage entrepreneurs in Singapore (19%) also reported that they were using the very
latest technology in their new businesses. In contrast, a much lower rate of early stage entrepreneurs
in the US (9%), Canada (7%) and Australia (5%) report that they are using the latest technology.
If one relaxes the de?nition of new technology and includes technology available in the last ?ve years,
early stage entrepreneurs in Slovakia are still to the fore with over half (51%) reporting that their
new business will use new technology. The rate in Luxembourg (46%) and France (43%) are next
highest across Europe. The rate of early stage entrepreneurs in Ireland using new technology is at the
European average (32%). The rate in the US is similar (32%).
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A high rate of early stage entrepreneurs
in Singapore (52%) report using new technology.
High-tech entrepreneurs: In Ireland 9% of early stage entrepreneurs are focused on medium to high
technology sectors. This is similar to the average across Europe (7%). In Europe, the rate of early stage
entrepreneurs focused on technology sectors is highest in Sweden (18%) and Denmark (17%). These
are very high rates and are well in advance of those in Australia (11%), the US (9%), Canada (6%) and
Singapore (6%).
The rate of new business owners in Ireland that are focused on medium to high technology sectors is
15%. No international comparisons are available for this rate, however.
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Action Plan for Jobs, 2015, page 11.
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In the same period, the rate at which entrepreneurs exited their business and it was discontinued was 2.5% in the US and 2.1% in
Canada and Australia.
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The rate relates to investor activity and average amount invested per individual over the period 2011-2014 inclusive.
58
Slovakia E19,300, Lithuania E26,600 and Estonia E9,700.
Survival rate
Increasing the survival rate of new start-ups is an expressed objective in the latest Action Plan for
Jobs. “We will increase the number of start-ups, the survival rate and the capacity of start-ups to grow
to scale, all by 25 per cent”.
55
The rate in Ireland at which new and established owner managers, exited a business over the twelve
month period to June 2014 and the business was closed, is already relatively low (1.2%) and below
the European average of 1.7%. Across Europe, the rate is lowest in Switzerland (0.6%). In North
America and Australia there is a higher rate of closure by entrepreneurs of their businesses, than is the
case in Ireland or in Europe more generally.
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5.3 FINANCING NEW BUSINESSES - INFORMAL INVESTORS
The rate at which those in the general population in Ireland are investing in new businesses started
by someone else (3.4%) has remained more or less constant in recent years, although the average
amount invested increased to E40,500 in 2014, compared to E29,900 in 2013.
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The rate of informal investors is highest in Eastern Europe, particularly in Slovakia (8.6%), Lithuania
(7.1%) and Estonia (6.8%). The average amounts invested in each of these countries is less than in
Ireland.
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The situation in Lithuania may repay closer examination, however, as the average amount
invested in that country (E26,600) is not far behind the average amount reported for Ireland in 2013
and the rate of investors among the average population is more than double that in Ireland.
Luxembourg also appears of interest as the rate of informal investors in that country (6.1%) is higher
than in Ireland and the average amount invested is high (E43,200). The highest average amount
invested by individuals over the last three years across Europe, North America, and Australia was
in Denmark (E113,400). That country has consistently reported very high amounts of informal
investment. The rate of informal investors across the general population in Denmark (3.4%), however,
is no higher than it is in Ireland.
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5.4 ‘MISSING’ ENTREPRENEURS
Women entrepreneurs
The relative untapped entrepreneurial potential of women has been recognised for many years at
national level and a range of measures have been introduced. In Ireland there are just over two men
that are early stage entrepreneurs for every one woman (2.1:1). Across Europe, Switzerland is the only
country in which men and women are starting new business at the same rate. The gender balance in
early stage entrepreneurial activity in Switzerland has been at 1:1 or close to it for several years.
A similar observation can be made about the relative rates of male and female owner managers of
established businesses in Switzerland. At 1.2:1 the ratio is closer than in any country across Europe and
North America. A similarly narrow ratio may be observed only in Australia. The UK, which experienced
a signi?cant increase in early stage entrepreneurial activity in 2014, maintained the gender ratio among
male and female entrepreneurs (1.8:1) that has been evident for the last four years.
Higher rates of early stage female entrepreneurial activity may be observed in the US (11.2%), Australia
(10.1%) and Canada (9.9%) than in any country in Europe. As these countries are characterised by
very high rates of early stage entrepreneurial activity,
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however, there is still a gap in the rates at which
men and women are early stage entrepreneurs.
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The interesting insight from the Swiss data in this regard is that the perception of opportunities for
entrepreneurial activity is almost equally prevalent among men and women in the general population
(46% among men and 41% among women). This is not only considerably higher than in Ireland (39%
and 29% respectively), but it is more evenly matched.
A high perception of opportunity is not suf?cient in itself to lead to high rates of entrepreneurial
activity, however. In Sweden 71% of men and 69% of women in the general population perceive good
entrepreneurial opportunities. While this rate of perception is the highest in Europe and is fairly evenly
balanced, the overall rate of early stage entrepreneurial activity in that country (6.7%) is not dissimilar
to Ireland (6.5%) and the ratio of male to female early stage entrepreneurs (2.5:1) in that country is
much wider than it is in Ireland (2.1:1).
Men and women in Switzerland diverge sharply, however, in their belief that they have the knowledge
and skills to successful start a new business, (51% and 32%). In this they are broadly similar to men
and women in Ireland (58% and 37% respectively). This divergence in perception is evident right
across Europe, and is most noticeable in Poland (70% and 39% respectively). It is also apparent in
North America, Australia and across Scandinavia.
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Young entrepreneurs
Policy makers highlight youth as having signi?cant untapped entrepreneurial potential, particularly
among those unemployed youth who already possess professional skills and competences. “The
youth cohort is a vast resource that is signi?cantly under-used”.
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In Ireland early age entrepreneurial
activity is lowest, however, among those aged 18 to 24. In 2014, they represent only 7% of all early
stage entrepreneurs, with just 3.4% of those in this age group active in the country as entrepreneurs.
This is well below the European average (12% and 7.1% respectively).
High rates of entrepreneurial activity among young people may be observed in Slovakia (18.2%),
Romania (15.6%) and the Netherlands (13.0%), with 24% of all early stage entrepreneurs in Slovakia
aged between 18 and 24.
In the Netherlands, 19% of all early stage entrepreneurs are aged 18 to 24 and early stage
entrepreneurial activity is more or less evenly spread across the age groups, except for the most
senior (55 to 64 years).
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In the US, 15% of all early stage entrepreneurs are aged between 18 and 24.
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United States, 13.8%, Australia 13.1% and Canada 13%.
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1.5:1, 1.6:1 and 1.6:1 respectively.
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This greater self belief may be observed among men and women in the general population in Canada, (56% and 42%), the US (61% and
46%), Australia (52% and 40%) and across the Scandinavian countries of Denmark (44% and 26%), Finland (40% and 30%), Norway
(38% and 23%) and Sweden (46% and 28%).
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National Policy Statement on Entrepreneurship in Ireland, September 2014, page 21.
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In the Netherlands, 5.2% of those aged 55 – 64 are early stage entrepreneurs and these represent 11% of all early stage entrepreneurs
in that country.
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SECTION 6
PROFILES OF RECENT ENTREPRENEURS
The policy spotlight is increasingly being put on entrepreneurs, particularly those who are focused on
growth and expect to become signi?cant employers, as their contribution to employment creation is
now well recognised. With this in mind, in selecting entrepreneurs to pro?le for the 2014 report, we
decided to focus particularly on those who have recently started innovative businesses, with a strong
focus on growth.
Some of the entrepreneurs pro?led actively sought out opportunities for a new venture. This is what
motivated Wayne Byrne to participate in Enterprise Ireland’s Business Partner’s Programme. Others
identi?ed an opportunity for a new business almost by accident through their seeking a solution to
an experienced dilemma. This was the case with Isolde Johnson who was looking for a healthy fast
food option and Yvonne Brady who sought a solution to a personal problem encountered by active
women following childbirth. Myles Murray identi?ed the opportunity for his new business while on a
work placement. Some like Moira Kiely were motivated by necessity: “When you absolutely have to, it
is amazing what you can pull out of the bag”.
Some of those pro?led are serial entrepreneurs – Ben Harris, Moira Kiely, Simon Lynch, Wayne Byrne
and Yvonne Brady. For others, this is their ?rst entrepreneurial venture – Isolde Johnson, Julie Currid,
and Myles Murray.
Setting up a new business is not easy. Besides passion and a vision, there is a need to be able to
convince others of the merits of the new products or services. Julie Currid of Initiafy is very clear about
this – “Everything from acquiring customers, raising capital, PR, marketing and recruitment are all
in?uenced by your ability to sell your company, your product and yourself! “
Third party recognition whether by winning awards or by endorsements can be very powerful for an
early stage company. Re?ecting on the number of awards his company has already won, Wayne
Byrne of OxyMem says: “The Awards have given us signi?cant international credibility, which has been
important for funding and in our search for partners. They also stand to us as we begin to look at more
international markets.” Yvonne Brady of EVB Sports Shorts in supporting its sales drive can point to
endorsements by both medical and sporting professionals all over Ireland and by the physiotherapy
suppliers to the UK athletics team.
The entrepreneurs are all characterised by a willingness to seek support from others. This may be
from a New Frontiers programme, like Genesis, or a sector speci?c support initiative like Food Works,
an Accelerator, a developmental initiative for female entrepreneurs such as Going for Growth, or more
generally from Enterprise Ireland and the other development agencies. Initial customers can also be
very supportive. The entrepreneurs frequently acknowledge the contribution of their team, as the team
building out the new business often underpins its initial success.
Becoming an entrepreneur is not an easy option. None of the entrepreneurs pro?led underestimate
the challenges involved. They speci?cally mention dif?culties in raising ?nance, educating potential
customers about a new product or service and coping with less than ideal broadband speed and
connections.
Myles Murray describes being an entrepreneur as an extraordinary tough and rewarding role and one
that needs unyielding belief. To anyone thinking of becoming an entrepreneur, Simon Lynch advises
them to think it through and make an informed decision. “Before setting up your own business, you need
to be 100% committed. If your heart is not in it, it’ll be extremely dif?cult to succeed.” He suggests that
budding entrepreneurs are proactive and seek advice from family, friends and state agencies.
The pages which follow contain pro?les of eight entrepreneurs, who have recently set up new
businesses in Ireland. The entrepreneurs featured are as follows:
• Ben Harris • Isolde Johnson • Julie Currid • Moira Kiely
• Myles Murray • Simon Lynch • Wayne Byrne • Yvonne Brady
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BEN HARRIS, Drop
Ben Harris is the chief executive and co-founder of Drop, an interactive recipe app - Drop Kitchen -
that connects to a pipeline of smart kitchen products. The ?rst one, the Drop Kitchen scale wirelessly
connects to an iPad app to offer features such as rescaling quantities and common substitutions, with
just a tap.
“I had always been interested in bringing food and technology together. I wanted to eliminate the
ambiguity and dif?culty around cooking food at home.”
With entrepreneurship running in the family, Ben’s creativeness and self-con?dence has encouraged
him to follow in his parent’s footsteps and set up on his own. Ben’s mother is Elaine O’Hora, founder
of the Munchies chain of sandwich bars and franchise network, while his father Peter Harris founded
Ireland’s ?rst courier company, Pony Express.
Ben studied industrial design at London’s Brunel University, where he invented Perfegg, a machine
to cook the perfect soft boiled egg. Following four years working as a product design engineer, Ben
established his ?rst business White Zebra Studios, a product design consultancy which was honoured
by the Institute of Designers Ireland with two awards in its ?rst year.
In 2012, Ben co-founded Drop along with Jonny McCauley, Jack Phelan and Tim Redfern. “The guys
and I saw an array of connected products being released across the home and felt the kitchen was really
underserved. We also saw that recipes hadn’t changed over the years; a block of text, a list of ingredients
and an image. 50 per cent of iPads were being used in the kitchen and recipes were the third most-shared
content online. With these things in mind, we decided to make our interactive recipe platform.”
In 2013, Drop took part in PCH’s inaugural Highway 1 programme, a hardware accelerator based in San
Francisco. In February 2014, Ben and the team launched the Drop connected kitchen scale and recipe
app to the public at the Launch Festival in San Francisco and won the best consumer product award.
Following a successful pre-order campaign in the summer of 2014, the Drop Kitchen Scale went on
sale in Apple Stores in the USA, Canada and the UK. Today, the product is also available in Lakelands
in the UK, Harvey Norman in Ireland and also in the Apple Stores in Australia and New Zealand. Drop
Kitchen Scale is now stocked in over 1,800 Target stores throughout the USA.
With their headquarters in Dublin and a satellite of?ce in San Francisco, Drop now employs a team
of 14. Ben and his fellow co-founders has been delighted with the start-up’s achievements to date.
“We began with a team of ?ve, with a 3D printed prototype, a rough mock of an app and not enough
money to pay our Wi-Fi bill in March 2014. Within nine months, we had our product on the shelves of
every Apple Store in the USA, $1 million in revenue and over $2 million in funding.”
Ben indicates that Drop’s early success would not have been possible without key investors and
supporters, including PCH, Frontline Ventures, Innovation Works and Enterprise Ireland. Starting out
from the NDRC Launchpad programme, Drop conducted feasibility studies with Enterprise Ireland
funding and also received Competitive Start Funding. In 2014, Drop was awarded High Potential
Start-up support by Enterprise Ireland. Most recently in June 2015, Ben was a ?nalist in the Emerging
Category of the EY Entrepreneur of the Year competition.
Ben explains that there are three phases to Drop’s business model. First, the company plan to develop
beautifully designed hardware products that people will welcome into their kitchen. The team then
wish to integrate Drop technology with kitchen appliance manufacturers and, ?nally, build a connected
social, interactive recipe operating system for the whole kitchen.
“In the short term, we’re focusing on software launches. In the next twelve months, we expect to have
more products coming to market.”
Drop is focusing on the bene?ts of connected kitchen appliances to the end users. Ben believes
the race to the smart kitchen has begun. “Every one of the kitchen manufacturers now has an
interconnected programme. In three years a connected kitchen will be ubiquitous, in ?ve years we’ll all
be wondering how anyone lived without it.”
www.getdrop.com
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ISOLDE JOHNSON, The Cool Bean Company
While studying for a BA in Business and Politics in Trinity College Dublin (TCD), Isolde Johnson com-
pleted an internship in EY, working on the Entrepreneur of the Year programme. While working in EY,
she met Sarah O’Connor, her future business partner and co-founder of The Cool Bean Company.
“Sarah and I just clicked instantly and developed a strong working relationship. I never expected that
we’d end up in business together.”
At the end of a long working day, Isolde and Sarah struggled to ?nd something tasty and convenient
to eat and were increasingly conscious of the bene?ts of a healthy diet on their physical and mental
wellbeing. With no inspiration from the ready meals on offer in their local supermarkets, they began
looking to develop an alternative of their own. They co-founded The Cool Bean Company to create a
no fuss, no nonsense, superhero food.
“When we ?rst developed the Cool Beans product, our biggest challenge was time. Both Sarah and
I were still working full time and ?nding time to dedicate to the business was dif?cult. We wanted to
prove that the business concept could be successful before taking a risk and leaving a secure job.”
Isolde and Sarah conducted a feasibility study with funding from Dublin City Local Enterprise Of?ce.
To test the market they began selling their signature product, Cool Beans, at music festivals including
Body and Soul and Electric Picnic in the summer of 2013.
In early 2014, Isolde left her job and began working full time in the business. The next step was to
produce suf?cient quantities for the retail market. They decided to outsource the manufacturing of
Cool Beans and began searching for a suitable partnership.
“We wanted to keep manufacturing on the island of Ireland. We met with numerous potential partners
around the country, but it proved dif?cult to ?nd the right ?t. Quality was extremely important to us. We
were delighted to eventually ?nd the perfect partner in Derry.”
Cool Beans comes in three ?avours – original tomato, smokey paprika and hot chilli. The product is
packed with protein and ?bre, is low in fat, salt and calories, has no added sugar and is gluten free.
Cool Beans is completely new to the retail market. Isolde and Sarah have differentiated their brand
through an innovative approach to packaging with strong colours and graphics.
In 2014, Isolde and Sarah were participants on Dublin City Local Enterprise Of?ce’s Food Academy
programme, which is run in association with Bord Bia and SuperValu. “It was a real eye-opener for us
on how to effectively run a food business and bring it to a level of sustainability. SuperValu have been
a great support. Their shoppers’ demographic ?ts well with our brand and their focus on quality is
second to none.”
Cools Bean has now secured a central listing with SuperValu and all three products are available in
223 stores nationwide. Isolde and her team currently hold at least eight tastings a week in various
SuperValu stores around Ireland and also feature in the supermarket’s national advertising campaign.
“Up until recently, we were delivering the items to each store and invoicing them individually. Now it is
centralised, we have more time to concentrate on increasing our stockists and expanding our product
range. We would like to develop our ideas for new products later this year and bring them to market
in 2016. ”
Cool Beans was recently featured on RTE’s The Late Late Show (TV) and Ryan Tubridy (Radio). In
2015, Isolde took part in the Starting Strong programme, a support initiative for early stage female
entrepreneurs.
The company plans to grow in Ireland and to continue to build brand awareness here. Isolde aims to
launch with other major retailers by the end of 2015. With manufacturing in Derry and a distribution
partner based in Lisburn, Northern Ireland, Cool Beans is well placed to enter the UK Market in the
coming months. Isolde also expects to export across Europe in the future.
www.coolbeans.ie
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JULIE CURRID, Initiafy
Julie Currid had always wanted to start her own business. For her, it was a case of ?nding the right
opportunity and the right business partner, which would lead her to take the leap in March 2012.
Having studied Management and Marketing in DIT, Julie began her career in marketing. By 2010,
she sought a more challenging, entrepreneurial opportunity and began working in a Dublin based
e-learning start-up where she met her future business partner, Sean Fennell. During this time, Julie
set up the company’s London of?ce and gained an insight into the HR and training needs of large
multinationals.
In 2012, Julie and Sean both left their roles to set up Initiafy, formerly Induction Manager. Together they
had recognised the need in the market for a product which would focus on the challenge of delivering
inductions to large numbers of short-term workers.
Julie explains exactly how Initiafy helps their clients save time and money. “Some industries such as
construction and retail face the challenge of high volumes of new staff who all need to be introduced to
the company culture, policies and safety procedures. Initiafy is an online platform that helps companies
manage the initial steps new staff take to become productive and safe members of their workforce.
Our customers adapt the platform themselves to suit their needs so that new starters can self-register
and self-train before starting a new job.”
Initiafy’s customers are typically companies which use a large number of contractors, temporary,
seasonal staff or project workers. Its client base now includes Domino’s, P?zer, Adobe, Sodexo, Lidl
and ?ve of the top 20 construction companies in the world. The company also works with all the major
energy companies in Ireland, as well as British Gas in the UK. “We plan to increase our customers in
the energy sector in the UK. We have seen signi?cant traction in this area globally and we have also
begun targeting the US market.”
In December 2014, Julie and Sean opened an of?ce in New York. Within three months, the company
had already reached the same revenues that took almost three years to build in the UK and Ireland. In
March 2015, the company rebranded to Initiafy.
“We had set up as Orientation Manager in the USA as the word Induction had a different meaning
there. However, as this led to a duplication of SEO work, PR, blogs, it was not practical. Too many
resources were going into managing it – even having two accounts for Social Media platforms was
time consuming.”
Julie explains that the company’s product offering has also grown. “While our focus was originally solely
on inductions, we realised that we could also cover employee registrations, contractor management,
online forms and the upload and exchange/validation of employee documents.”
In 2014, Julie took part in the 6
th
cycle of Going for Growth and found being able to con?dentially
discuss her business issues with like-minded female entrepreneurs very bene?cial.
Raising ?nance has instigated a major leap forward for Initiafy to date. Julie stresses the importance of
securing sales traction before approaching investors. “When setting up a business, you should focus
on perfecting a sales pitch. Everything from acquiring customers, raising capital, PR, marketing and
recruitment are all in?uenced by your ability to sell your company, your product and yourself!”
Today, Initiafy employs 17 people in Dublin and has 7 staff in their New York of?ce. Julie and Sean
are now ?rmly focused on the USA and other international markets. “There is huge revenue potential
for the company due to growing trends whereby companies are using more contract workers and
governments are enforcing more workplace safety regulations. By the end of 2015, we hope to have
100 staff employed.”
www.initiafy.com
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MOIRA KIELY, Xhail
In 2013, Moira Kiely co-founded Xhail with her business partner and husband Mick. Xhail is a music
publishing software platform that creates original copyrighted music pieces from a centralised
database of categorised musical stems or instruments.
Qualifying as a Nurse in the late 1980s, Moira immigrated to Australia and became involved in the
hospitality industry, running cafes and restuarants. In 1995, Moira returned to Ireland and opened the
?rst specialised coffee house “Kaffe Moka” in Dublin with her brother, who still runs the business today.
Moira and her husband, Mick Kiely who is a composer, moved to Wexford. The idea for Xhail was born
out of necessity as Moira and her family struggled during the economic downturn. “I often use the
phrase - Up from the ashes, grow the roses of success. When you absolutely have to, it is amazing
what you can pull out of the bag.”
Moira and Mick spent over a year developing a business plan and a proof of concept, overcoming many
trials along the way. The product took over two years to develop. The couple worked extremely hard
to prove the concept for Xhail, while making people believe what could be achieved with the product.
“It didn’t just consist of the technology element. We had to inspire a whole nation of composers and
musicians, outlining why Xhail is unique and different to others in the industry.”
Xhail’s potential customers are continuously bombarded with the “newest” music technology. It has
been important for Xhail to set themselves apart from the competition.
They raised €500,000, which included match funding from Enterprise Ireland, as one of their HPSU
clients (High Potential Start Up).
Xhail’s clients range from people making full feature ?lms, advertisements, wedding videos or YouTube
videos. Moira believes that there is great potential for Xhail internationally – wherever anyone is
making music for media or personal use. Now that the Xhail product is market ready, it can become
mainstream. “We have great support behind us and a strong team to help us scale!”
For Moira, the Xhail journey to date has been worth the risk. “To come out of the economic downturn
and be where we are – to keep going, is a great achievement. There have been so many occasions
along the way where we could’ve packed it in, but we went ahead and took the next step.”
The Kiely’s children are also working in the business. Their eldest son recently completed a Masters
in Music Technology in NUI Maynooth, while the Xhail Logo was designed by another son, currently
studying in the National College of Art and Design (NCAD). Since offering the product to a few select
people, the Kiely’s have discovered many in the music industry who have been watching Xhail’s
progress with great interest. Moira, Mick and the Xhail team are now looking to go for growth and
have turned their focus to sales.
“We have a global platform for growth. We wish to develop a strong presence in the US Market and
are planning on opening an of?ce in Los Angeles.” With this in mind, Moira’s husband and co-founder
of Xhail, Mick has recently relocated to Los Angeles, where there is great excitement for the product.
In Ireland, Xhail employs 14 people and has just entered into the market.
“We have a strong, wonderfully engaged team in Gorey. The biggest challenge in Wexford to date has
been infrastructure. Trying to build a company that is dependent on online services, without suf?cient
broadband to meet our business needs has been a major hindrance.”
www.xhail.com
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MYLES MURRAY, PMD Solutions
While studying Mechanical Engineering in Cork Institute of Technology (CIT), Myles Murray completed
a work placement in the Medical Engineering Design and Innovation Centre (MEDIC) in 2010. During
the year, Myles worked on a number of ideas as an introduction to the design of medical devices.
Showing a strong desire to take a concept of his own to the next stage, Myles was introduced to
Stephen Cusack, the ?rst Professor of Emergency Medicine in Ireland, who was Head of the A&E
Department at Cork University Hospital. “Stephen had a very simple need. Every day he faced so
many patients in the emergency department with respiratory problems, including tightness of the
chest and shortness of breath. However, there was no way of monitoring the rate of respiratory
irregularities or to indicate a change in the patient’s condition. The technology to accurately do so
simply did not exist.”
Myles began working on the concept for RespiraSense as his ?nal year project in CIT. RespiraSense is a
discrete sensor pad patients wear on their chest. It monitors breathing continuously and alerts medical
practitioners if irregularities are detected. The project won Myles CIT’s Entrepreneur of the Year Award in
2011 and a place on the Genesis Enterprise Programme in the Rubicon Centre. “With my engineering
background, I had little knowledge of setting up a business. The Genesis programme provided a great
platform to learn about business strategy, development and bringing a product to market.”
Setting up PMD Solutions, Myles partnered with Irish medical device manufacturer Gentian Services
in Co. Clare to develop RespiraSense. Partnering with Gentian enabled lower development costs, risk
sharing and the quicker establishment of a world class supply chain that could deliver small-scale
products at a competitive price, while also being capable of high volume manufacturing.
One of the main barriers facing PMD Solutions was raising capital. “Being in the MedTech space,
it required a signi?cant amount of capital due to the necessity for clinical evaluations, reviews and
trials.” South Cork Local Enterprise Of?ce saw the opportunity and offered match funding. Myles also
successfully applied to his local AIB branch in Douglas, Cork for a business loan, at a time when bank
lending was at a severe low.
Another challenge facing Myles was how to effectively demonstrate the tangible economic bene?t of
adopting RespiraSense. The product was not displacing older technology in the hospitals and was
completely new to the market. During the recession, healthcare budgets across the board were being
cut and educating experts in the sector was challenging. The company had to demonstrate that its
product could save potential clients money. “We are very fortunate that we are in an emerging market
sector, where extensive research has already been conducted. We can illustrate a return on investment
of 80% annually through the adoption of RespiraSense, by enabling the reduction of respiratory
compromise events by 10% – a problem projected to cost the US and EU €32Bn each year by 2020.”
Myles has attributed the success of PMD Solutions to the team of ten working with the company.
Employing ?ve executives and ?ve engineering staff, the development of RespiraSense began in
December 2013. Within nine months, the product was fully developed. In early 2014, the company
was awarded High Potential Start-up support (HPSU) by Enterprise Ireland following on from
a commercialisation grant. In November of the same year, RespiraSense received its CE mark
certi?cation and launched into the European marketplace.
Myles expects RespiraSense to be used in ten hospitals in Europe and Asia by the end of 2015,
serving over 7,500 patients and the product is now positioned to become a new industry standard
for the early detection of in-hospital respiratory compromise. “We have spent the last twelve months
focusing on ?nding the right distributors who have the appetite and attitude to develop a market with
PMD Solutions. We are currently in negotiations with the top four patient monitoring companies in the
world. If successful, we intend opening international of?ces in the USA and Asia.”
To date, Myles has no regrets about becoming an entrepreneur, but warns that it may not be for
everyone. “For those up for the challenge of running their own business and making it successful, it is an
extraordinary tough and rewarding role. One needs unyielding belief regardless of which point you are
on your journey. My advice is to take a moment to pause, commit to the dream, and drive on with it.”
www.pmd-solutions.com
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SIMON LYNCH, Wicklow Wolf Brewing Company
A horticulturist by profession, Simon Lynch trained in the Botanic Gardens, Dublin in the 1990s.
Enjoying the creative freedom of designing, Simon set up his own landscaping business in 2000.
In 2012, the idea for the Wicklow Wolf Brewing Company was ?rst explored following a conversation
between Simon and his friend Quincey Fennelly. “Quincey was a home brewer and an artisan baker.
We had both spent time in San Francisco at separate times and fell in love with craft beers and the
art of brewing.”
For over two years, Simon and Quincey researched the craft beer industry, touring Ireland, the UK and
USA, discovering a substantial international demand for Irish craft beer. They went on to establish a
brewing facility in Bray, Co. Wicklow in September 2014. The brewery, located in an old bakery on the
banks of the Dargle River, is supplied by a 10 acre hop farm based in Roundwood. Hops, which are
used as the key ?avouring ingredient, are an integral part of the brewing process.
The Latin for hop is ‘humulus lupulus’ (Lupulus meaning small wolf), while across Europe, the harvester
of the Hops is known as a wolf harvester. While discussing potential names for their business, Wicklow
Wolf was conceived. Simons explains that the last wolf in Ireland was believed to have been killed
around the Wicklow border with Carlow and Wexford in the 18th century. “The wolf is very much a
family/pack animal. He is very loyal to his community and here at the Wicklow Wolf Brewing Company,
we want to create a community of discerning beer drinkers.”
In 2014, Simon and Quincey took part in the FoodWorks programme and found the advice from Bord Bia,
Enterprise Ireland and Teagasc invaluable. “Without their direction, we wouldn’t have started as strongly
as we have.” The company were also awarded High Potential Start-up support by Enterprise Ireland.
Beginning production in September 2014, the Wicklow Wolf Brewing Company had already plans to
expand and open a second, larger premises. “We have already reached our capacity and hope to
move from 4,000 square feet to over 30,000 square feet by the end of 2015. We didn’t think that we’d
have capacity issues this soon! We will keep our original premises for special brews and for Wicklow
Wolf brewery tours.”
The company’s capacity issues are even more remarkable as they have yet to begin trading
internationally. Simon and Quincey decided to concentrate on the local and national markets initially
before going international. The ?rst step will be to begin trading in Northern Ireland by the end of 2015,
before turning the focus to the UK and the USA markets. “We would like to build a global beer brand,
produced in Ireland in the most environmental friendly way possible. I’d like Wicklow Wolf Brewing
Co. to become a household name and to be known by people of drinking age throughout the world.
Food pairing has become a huge part of beer consumption. Alongside wine, craft beers have been
recognised as complimenting good food. It’s about the quality taste and ?avours. “
Simon also plans to look at exploring other beer products, including Gluten-free and non-alcoholic
beers, while maintaining a distinctive craft beer taste and quality. “To date, we have concentrated on
perfecting our core range of craft beers. When we expand into our new facility, we hope to look at
developing other products, with low or no alcohol content, as well as coeliac friendly beers.”
Employing a team of six, the Wicklow Wolf Brewing Company currently produce eight craft beers,
including four seasonal specialities. While the idea for the brewing business was developing, Simon
and Quincey were introduced to Peter Reynier from Colorado, USA. Excited by the opportunity to live
and work in Ireland, Peter moved to Bray to join the start-up as Head Brewer. “Our team have worked
tirelessly. There are no tasks too big or small. We have worked really hard developing the business, but
wouldn’t have succeeded without the support of our staff, family and friends along the way.”
To anyone thinking of becoming an entrepreneur, Simon advises them to think it through and make
an informed decision. “Before setting up your own business, you need to be 100% committed. If your
heart’s not in it, it’ll be extremely dif?cult to succeed. He suggests that budding entrepreneurs are
proactive and seek advice from family, friends and state agencies.
www.wicklowwolf.com
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WAYNE BYRNE, OxyMem
Serial Entrepreneur, Wayne Byrne is the Managing Director of OxyMem, a UCD spinout now based in
Athlone. Founded in 2013, OxyMem has developed a revolutionary new system which can bring down
the operating costs of wastewater treatment plants by up to 75 per cent.
Wayne holds an International Executive MBA and a Diploma in Advanced Management from UCD.
In the last 7 years, Wayne Byrne acquired, restructured, and sold a major waste equipment supply
company, Manvik Group. Manvik had over 80 staff, a turnover in excess of €40M, and had operations
in the UK and Ireland.
Seeking more challenges in the clean technology space, Wayne went on to set up Biocore
Environmental and established a signi?cant presence in wastewater sludge management and
renewable gas generation.
In April 2010, Wayne successfully became a member of Enterprise Ireland’s Business Partners
Programme. The aim of the programme is to identify, engage and support individuals, with strong
commercial experience, to capitalise on the rich portfolio of research within the academic sector and
create export oriented start-up companies. “At the time I was looking to ?nd something to compliment
my existing company, Biocore Environmental. OxyMem had a long way to go before it was going
to be marketable. I began working on the project on a part-time basis. In July 2013, OxyMem was
ready for market, at which point, I decided to step back from Biocore. Today, I am still involved as the
non-executive Chairman, but wanted to focus my energy full-time on OxyMem.”
While in UCD, OxyMem developed and patented the Membrane Aerated Bio?lm Reactor (MABR),
solving energy intensive wastewater treatment. “Conventional wastewater treatment consumes 2-3%
of a nation’s electricity production. This is due to a reliance on bubble diffusion for treatment plants
which will typically suffer energy losses of 65%-70% in the process because of the oxygen transfer
limitations. OxyMem does not have any such limitations. It uses hollow ?bre gas permeable membranes
to support a ?xed ?lm eco-system for the biology which allows for direct delivery of oxygen to the
micro-organisms. OxyMem can achieve 95% oxygen transfer rates, resulting in a fourfold saving on
energy costs.”
In January 2014, a manufacturing facility in Athlone was set up and OxyMem began generating revenue
the following June. Within a year, the start-up had raised €2 million in funding. Wayne expects that the
company will continue to expand rapidly over the coming years. OxyMem now employs 42 staff and
is growing. “By the end of 2015, we aim to be turning over €1 million plus. Our plan in the short term
is to grow what has been a small production footprint into a larger one. Being able to effectively scale
production will be key. We decided to establish our facility in Athlone, as there are great resources
available to us there, including a skilled workforce.”
Wayne credits the support OxyMem has received as a main contributor to the start-ups’ success to
date. “Enterprise Ireland have been tremendous supporters; providing ?nance, mentoring and advice
on market entry. We also have great support from early adopters of our technology, such as Severn
Trent Water. They have been fundamental in generating awareness of OxyMem and winning new
customers.”
OxyMem has a strong relationship with Suez International who took an interest in the innovative
technology in the early stages. The company has now partnered with Aqualogy in Spain, which is part
of the Suez group.
Over the last eighteen months, OxyMem has received numerous accolades, including Water
Innovation SME Award in Europe and an award for Excellence in Intellectual Property. The company
was announced as the overall Winner of the 2014 Irish Times InterTradeIreland Innovation Awards.
This year, OxyMem was selected as a winner of the Emerging Business Category at the SFA Small
Business Awards and won the Imagine H
2
O’s Water Infrastructure Challenge in San Francisco, USA.
“The awards have given us signi?cant international credibility, which has been important for funding
and in our search for partners. They also stand to us as we begin to look at more international markets
including North America, Asia and the Middle East.”
www.oxymem.com
63
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2
0
1
4
YVONNE BRADY, EVB Sport
EVB Sport was not the ?rst business that Yvonne Brady was involved in starting. A quali?ed engineer,
she co-founded an engineering practice in 2000. Her identi?cation of an opportunity for the new
business arose from her own experience, following the birth of her third child. As she explains:
“I decided to run the Dublin City Marathon, but while training I discovered that my deep core muscles
required extra support. After pregnancy, some women experience prolapse, and I suffered light
bladder leakage whilst running. I didn’t speak about it to anybody. I was morti?ed.”
Yvonne decided to turn her engineering skills to designing sportswear for women after childbirth,
when she discovered that she was not alone - over a third of women suffer to some degree from weak
pelvic ?oor muscles. In March 2012, Yvonne began working on the concept for her product and took
part in DKIT’s New Frontiers programme, which is supported by Enterprise Ireland. Yvonne developed
EVB Sports Shorts, which feature patent pending technology to support the abdomen, lower back
and perineum, and effectively taking pressure off the core muscles.
Finding a suitable manufacturer to produce the shorts proved very dif?cult and took over a year to
source.
Yvonne is very grateful for the support she has received from Enterprise Ireland. Feasibility support,
enabled Yvonne to conduct in depth market research; she was subsequently successful in being
awarded competitive start funding in late 2013; and used two innovation vouchers to help with product
testing in DCU, TCD, and the Royal College of Surgeons.
EVB Sports Shorts have been endorsed by both medical and sporting professionals all over Ireland
and have also been endorsed by the physiotherapy suppliers to the UK athletics team. The product is
also being recommended by the top maternity hospitals in Ireland and the UK.
Elverys initially launched EVB Sports Shorts in three of its retail outlets in Galway, Dundrum and Arnotts
in Dublin in September 2014. Based on a successful launch, the product is now available in 12 Elverys
stores throughout the country. The shorts are also available in the three Amphibian King stores and
through many independent physiotherapy practices around Ireland and the UK, including London’s
largest physiotherapy practice.
In October 2014, Yvonne reached the ?nal of the Cartier Women’s Initiative Awards as one of
three European representatives. In total, just 18 ?nalists had been selected from over 1,000 female
entrepreneurs worldwide. In November 2014, Yvonne won the Regional Final for InterTradeIreland’s
Seedcorn Competition.
In 2014, Yvonne secured investment and support from two Investors on RTÉ’s Dragons’ Den. She
decided against accepting the money from the Dragons, however, and instead sought HPSU support
from Enterprise Ireland. In April 2015 Yvonne was approved for match funding with EI, after attracting
further private investment.
EVB Sport’s vision is to become a leading global supplier of women’s sportswear. Yvonne found a
lack of capital has been her main barrier to growth, “Trying to create a global brand requires a lot
of investment. When you have created something new it takes more time and effort to educate the
market. Having found a clear gap in the market, I am focused on securing ?nancial support to bring
EVB Sport Shorts international in the coming years!”
Yvonne plans to focus on sales, marketing and product development and has just hired a sales
representative and is currently seeking a digital and marketing executive to join the team, which is
based in Drogheda, Co Louth.
www.evbsport.com
PB
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P
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N
E
U
R
S
H
I
P
I
N
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L
A
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D
2
0
1
4
65
E
N
T
R
E
P
R
E
N
E
U
R
S
H
I
P
I
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E
L
A
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D
2
0
1
4
SECTION 7
COMPARATIVE INTERNATIONAL DATA ON
ENTREPRENEURSHIP IN 2014
TABLE A - RATES OF ENTREPRENEURSHIP
Nascent New TEA: TEA TEA Owner
entrepreneurs business Early stage ranking ranking managers of
owners entrepreneurs established
businesses
Adult Adult Adult Adult
population population population European population
% % % countries EU-15 %
Europe (EU and EFTA)
Austria 5.8 3.1 8.7 10 4 9.9
Belgium 2.9 2.5 5.4 22 12 3.5
Croatia 6.0 2.0 8.0 11 3.6
Denmark 3.1 2.5 5.5 21 11 5.1
Estonia 6.3 3.5 9.4 7 5.7
Finland 3.4 2.3 5.6 19 9 6.6
France 3.7 1.7 5.3 23 13 2.9
Germany 3.1 2.3 5.3 24 14 5.2
Greece 4.6 3.4 7.9 12 5 12.8
Hungary 5.6 3.9 9.3 8 7.9
Ireland 4.4 2.5 6.5 16 8 9.9
Italy 3.2 1.3 4.4 25 15 4.3
Lithuania 6.1 5.3 11.3 2 7.8
Luxembourg 4.9 2.3 7.1 13 6 3.7
Netherlands 5.2 4.5 9.5 6 3 9.6
Norway* 2.8 3.0 5.7 18 5.4
Poland 5.8 3.6 9.2 9 7.3
Portugal 5.8 4.4 10.0 5 2 7.6
Romania 5.3 6.2 11.3 1 7.6
Slovakia 6.7 4.4 10.9 3 7.8
Slovenia 3.8 2.7 6.3 17 4.8
Spain 3.3 2.2 5.5 20 10 7.0
Sweden 4.9 1.9 6.7 15 7 6.5
Switzerland* 3.4 3.8 7.1 14 9.1
United Kingdom 6.3 4.5 10.7 4 1 6.5
European average 4.6 3.2 7.7 6.7
North America
Canada 7.9 5.6 13.0 9.4
United States 9.7 4.3 13.8 6.9
Asia & Oceania
Australia 7.6 5.7 13.1 9.6
Japan 2.7 1.3 3.8 7.2
Singapore 6.4 4.8 11.0 2.9
Taiwan 4.4 4.1 8.5 12.2
* EFTA
66
E
N
T
R
E
P
R
E
N
E
U
R
S
H
I
P
I
N
I
R
E
L
A
N
D
2
0
1
4
67
E
N
T
R
E
P
R
E
N
E
U
R
S
H
I
P
I
N
I
R
E
L
A
N
D
2
0
1
4
TABLE B - RATES OF INTRAPRENEURSHIP
Intrapreneur Intrapreneur Intrapreneur Intrapreneur
in past 3 years in past 3 years now now
Adult Employed Adult Employed
population population population population
% % % %
Europe (EU and EFTA)
Austria 5.6 10.0 4.2 7.5
Belgium 5.4 8.5 4.0 6.3
Croatia 3.6 8.4 3.0 6.9
Denmark 11.4 16.8 8.6 12.6
Estonia 3.6 5.4 2.8 4.3
Finland 4.5 6.4 3.7 5.3
France 3.8 6.3 2.6 4.4
Germany 4.4 6.6 3.5 5.1
Greece 0.8 2.1 0.6 1.7
Hungary 2.8 5.8 1.8 3.8
Ireland 6.7 11.8 5.6 10.0
Italy 0.8 1.9 0.6 1.6
Lithuania 5.1 10.2 3.4 6.7
Luxembourg 7.3 10.7 5.1 7.5
Netherlands 7.0 9.4 5.2 7.0
Norway* 7.9 9.9 5.4 6.7
Poland 3.4 6.6 2.3 4.4
Portugal 3.2 6.2 2.4 4.6
Romania 4.9 8.1 4.0 6.6
Slovakia 4.9 8.4 4.3 7.4
Slovenia 4.7 8.6 3.8 6.8
Spain 1.8 4.8 1.5 3.9
Sweden 5.8 8.1 4.7 6.6
Switzerland* 6.1 9.4 4.9 7.6
United Kingdom 7.0 11.2 6.2 9.9
European average 4.9 8.1 3.8 6.2
North America
Canada 4.8 7.0 3.4 5.1
United States 6.5 10.4 5.0 8.0
Asia & Oceania
Australia 8.5 12.5 6.1 9.0
Japan 1.1 1.7 0.9 1.4
Singapore 4.8 7.0 3.9 5.6
Taiwan 7.6 9.9 7.6 9.9
* EFTA
66
E
N
T
R
E
P
R
E
N
E
U
R
S
H
I
P
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R
E
L
A
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D
2
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1
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67
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U
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S
H
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P
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I
R
E
L
A
N
D
2
0
1
4
TABLE C - RATES OF ASPIRING ENTREPRENEURS
Aspiring Aspiring
entrepreneurs entrepreneurs
Not currently active as
Adult entrepreneurs in
population adult population
% %
Europe (EU and EFTA)
Austria 10.7 8.1
Belgium 12.4 10.6
Croatia 22.9 19.5
Denmark 8.4 6.9
Estonia 10.6 9.8
Finland 9.1 7.9
France 16.0 14.2
Germany 8.3 5.9
Greece 10.4 9.5
Hungary 16.0 13.9
Ireland 8.3 7.2
Italy 13.2 11.4
Lithuania 22.3 19.7
Luxembourg 16.4 11.9
Netherlands 10.8 9.3
Norway* 6.2 5.0
Poland 19.4 15.6
Portugal 18.4 15.8
Romania 32.7 31.7
Slovakia 19.0 15.1
Slovenia 12.3 11.4
Spain 8.0 7.1
Sweden 10.1 8.5
Switzerland* 8.8 7.1
United Kingdom 8.9 6.9
European average 13.6 11.6
North America
Canada 16.8 12.0
United States 16.2 12.1
Asia & Oceania
Australia 11.8 10.0
Japan 5.3 2.5
Singapore 15.0 9.4
Taiwan 28.1 25.6
* EFTA
68
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L
A
N
D
2
0
1
4
TABLE E - ENTREPRENEURIAL TEAMS
Nascent New business Early stage Owner managers
entrepreneurs owners entrepreneurs of established
businesses
Number Number of Number of Number of
of owners owners owners owners
Europe (EU and EFTA)
Austria 1.7 1.6 1.7 1.4
Belgium 2.1 1.9 2.0 1.9
Croatia 2.0 1.9 1.9 1.6
Denmark 1.9 1.4 1.7 1.5
Estonia 1.9 1.6 1.8 1.6
Finland 2.2 2.1 2.1 1.6
France 1.7 2.0 1.8 1.9
Germany 1.7 1.7 1.7 1.4
Greece 1.8 1.5 1.6 1.5
Hungary 2.2 1.7 2.0 1.7
Ireland 1.7 1.5 1.7 1.7
Italy 1.7 1.4 1.6 2.2
Lithuania 1.8 1.8 1.8 1.7
Luxembourg 2.0 1.9 2.0 2.1
Netherlands 1.7 1.5 1.6 1.8
Norway* 2.0 1.9 2.0 1.8
Poland 1.5 1.5 1.5 1.3
Portugal 1.9 1.7 1.8 1.4
Romania 1.8 1.7 1.8 1.6
Slovakia 2.0 na na 1.8
Slovenia 2.1 1.7 1.9 1.6
Spain 1.9 1.8 1.9 2.1
Sweden 1.8 1.9 1.9 na
Switzerland* 1.6 1.7 1.7 1.6
United Kingdom 1.7 1.6 1.6 1.7
European average 1.9 1.7 1.8 1.7
North America
Canada 2.0 1.8 1.9 2.1
United States 2.0 1.9 2.0 1.5
Asia & Oceania
Australia 1.9 1.6 1.8 1.6
Japan 2.7 na na 2.1
Singapore 2.4 2.0 2.2 1.9
Taiwan 2.8 2.5 2.6 1.6
* EFTA
70
E
N
T
R
E
P
R
E
N
E
U
R
S
H
I
P
I
N
I
R
E
L
A
N
D
2
0
1
4
71
E
N
T
R
E
P
R
E
N
E
U
R
S
H
I
P
I
N
I
R
E
L
A
N
D
2
0
1
4
TABLE F - WORK AND HOUSEHOLD INCOME: EARLY STAGE ENTREPRENEURS
Early stage Early stage Early stage Early stage Early stage Early stage
entrepreneurs entrepreneurs entrepreneurs entrepreneurs entrepreneurs entrepreneurs
Not in Students Household income Household income Household income
Employed employment or retired in lowest third in middle third in highest third
population population population of population of population of population
% % % % % %
Europe (EU and EFTA)
Austria 9.8 2.3 1.4 8.9 7.0 11.4
Belgium 6.9 4.0 1.0 4.0 4.9 6.7
Croatia 8.3 6.4 1.5 4.3 6.9 11.8
Denmark 5.9 1.9 1.8 5.2 5.3 6.9
Estonia 6.5 2.7 1.4 5.4 8.3 13.8
Finland 6.8 2.4 1.3 4.0 3.6 7.8
France 7.0 1.6 1.1 3.8 6.3 10.1
Germany 5.7 6.6 2.0 4.3 6.2 7.2
Greece 12.2 2.5 0.6 7.3 10.1 na
Hungary 9.3 3.0 1.2 8.3 8.2 13.0
Ireland 7.4 1.8 1.9 6.7 7.1 6.9
Italy 5.9 1.1 1.1 4.9 4.0 4.8
Lithuania 9.3 2.2 1.6 6.1 12.1 15.3
Luxembourg 7.7 4.7 2.2 7.9 8.0 7.1
Netherlands 10.8 3.9 1.2 9.6 9.5 9.9
Norway* 6.5 na na 3.4 4.8 11.0
Poland 11.5 2.5 1.2 4.8 11.2 12.6
Portugal 12.6 4.5 2.3 8.3 11.5 10.9
Romania 13.9 4.0 2.5 5.0 11.4 17.5
Slovakia 12.1 4.0 1.7 6.2 11.2 15.1
Slovenia 8.1 2.8 2.4 5.7 5.3 9.2
Spain 6.9 2.7 0.6 4.8 5.1 6.2
Sweden 7.2 1.2 2.7 6.5 5.0 8.7
Switzerland* 8.2 1.8 0.5 4.0 7.7 8.0
United Kingdom 12.6 3.7 5.1 9.9 11.4 11.8
European average 8.8 3.1 1.7 6.0 7.7 10.2
North America
Canada 14.2 3.9 3.9 12.9 13.6 13.9
United States 15.9 4.5 2.6 11.6 14.6 16.7
Asia & Oceania
Australia 15.2 4.3 3.4 12.2 12.7 15.7
Japan 4.1 2.1 1.1 3.9 2.9 5.8
Singapore 12.8 3.7 3.8 6.9 12.6 15.5
Taiwan 10.7 1.7 0.5 5.7 8.2 15.6
* EFTA
70
E
N
T
R
E
P
R
E
N
E
U
R
S
H
I
P
I
N
I
R
E
L
A
N
D
2
0
1
4
71
E
N
T
R
E
P
R
E
N
E
U
R
S
H
I
P
I
N
I
R
E
L
A
N
D
2
0
1
4
TABLE G - MOTIVES: EARLY STAGE ENTREPRENEURS
Early stage Early stage
entrepreneurs entrepreneurs
Motivated by Motivated by Motive: Motive: Motive: Motive:
opportunity necessity Independence increase income maintain income Other
% % % % % %
Europe (EU and EFTA)
Austria 88 12 56 19 10 16
Belgium 67 33 45 40 12 4
Croatia 52 48 32 36 25 7
Denmark 94 6 57 26 8 9
Estonia 83 17 64 30 3 3
Finland 84 16 52 28 13 7
France 84 16 49 42 6 4
Germany 77 23 66 23 9 2
Greece 64 36 22 56 22 0
Hungary 66 34 38 36 20 5
Ireland 70 30 40 38 20 2
Italy 85 15 47 43 6 3
Lithuania 80 20 52 29 10 9
Luxembourg 88 12 68 17 8 8
Netherlands 84 16 57 12 16 15
Norway* 96 4 51 32 1 15
Poland 62 38 61 31 7 1
Portugal 72 28 27 61 12 0
Romania 71 29 33 55 8 4
Slovakia 66 34 60 31 4 5
Slovenia 74 26 60 29 8 3
Spain 69 31 39 36 17 8
Sweden 91 9 33 22 3 42
Switzerland* 84 16 70 17 8 5
United Kingdom 87 13 49 39 10 2
European average 77 23 49 33 11 7
North America
Canada 83 17 46 39 10 5
United States 86 14 43 41 9 7
Asia & Oceania
Australia 83 17 40 39 14 7
Japan 80 20 43 54 2 2
Singapore 88 12 46 40 10 5
Taiwan 87 13 46 53 1 0
* EFTA
Opportunity motivated early stage entrepreneurs
72
E
N
T
R
E
P
R
E
N
E
U
R
S
H
I
P
I
N
I
R
E
L
A
N
D
2
0
1
4
73
E
N
T
R
E
P
R
E
N
E
U
R
S
H
I
P
I
N
I
R
E
L
A
N
D
2
0
1
4
TABLE H - EDUCATION LEVEL: EARLY STAGE ENTREPRENEURS
Early stage Early stage Early stage Early stage Early stage
entrepreneurs entrepreneurs entrepreneurs entrepreneurs entrepreneurs with
Some secondary Secondary school Post-secondary Graduate education post-secondary
education as as highest as highest as highest education
highest quali?cation quali?cation quali?cation quali?cation Early stage
Adult population Adult population Adult population Adult population entrepreneurs
% % % % %
Europe (EU and EFTA)
Austria 10 7 14 15 29
Belgium 3 4 6 11 68
Croatia 4 8 12 8 24
Denmark 3 7 5 7 70
Estonia 8 8 13 12 45
Finland 5 5 7 7 39
France 3 6 5 9 76
Germany 4 5 7 na 41
Greece 3 6 12 12 64
Hungary 7 9 11 12 50
Ireland 5 4 8 6 78
Italy 4 3 na 7 24
Lithuania 2 9 10 15 76
Luxembourg 3 5 9 13 67
Netherlands 8 9 12 na 36
Norway* na 6 6 na 30
Poland 2 8 13 15 48
Portugal 6 11 13 20 44
Romania 4 9 14 na 36
Slovakia 7 12 12 14 39
Slovenia 4 5 8 18 55
Spain 4 5 7 12 47
Sweden 5 6 7 26 57
Switzerland* 8 5 9 32 49
United Kingdom 10 10 11 13 54
European average 5 7 10 13 50
North America
Canada 14 9 13 17 74
United States 14 12 15 16 65
Asia & Oceania
Australia 11 10 14 21 70
Japan 4 2 5 5 70
Singapore 6 9 12 16 73
Taiwan 4 6 10 11 74
* EFTA
72
E
N
T
R
E
P
R
E
N
E
U
R
S
H
I
P
I
N
I
R
E
L
A
N
D
2
0
1
4
73
E
N
T
R
E
P
R
E
N
E
U
R
S
H
I
P
I
N
I
R
E
L
A
N
D
2
0
1
4
T
A
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*
E
F
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A
74
E
N
T
R
E
P
R
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N
E
U
R
S
H
I
P
I
N
I
R
E
L
A
N
D
2
0
1
4
75
E
N
T
R
E
P
R
E
N
E
U
R
S
H
I
P
I
N
I
R
E
L
A
N
D
2
0
1
4
TABLE J - GROWTH ASPIRATIONS: EARLY STAGE ENTREPRENEURS
Early stage Early stage Any jobs Expect 10 or Expect 20 or
entrepreneurs entrepreneurs now or any more jobs more jobs
with any jobs expect 20 expected within the within the
now or any or more within the next 5 years next 5 years
jobs expected jobs in next 5 years
in next 5 years next 5 years
Adult Adult Early stage Early stage Early stage
population population entrepreneurs entrepreneurs entrepreneurs
% % % % %
Europe (EU and EFTA)
Austria 5.2 0.5 60 10 5
Belgium 4.0 0.5 74 12 9
Croatia 5.9 1.2 74 28 15
Denmark 3.9 0.3 72 17 6
Estonia 7.2 0.6 76 14 7
Finland 3.2 0.7 56 13 12
France 4.1 0.7 78 17 14
Germany 3.9 0.7 74 14 13
Greece 5.9 0.3 75 8 3
Hungary 8.5 1.8 91 25 19
Ireland 4.6 0.8 70 27 12
Italy 3.2 0.2 73 8 5
Lithuania 8.9 1.4 79 24 12
Luxembourg 4.8 0.3 68 13 4
Netherlands 5.4 0.6 57 8 7
Norway* 3.3 0.3 58 6 5
Poland 7.0 1.2 76 23 13
Portugal 6.9 0.9 70 12 9
Romania 9.1 2.3 80 32 20
Slovakia 8.0 2.0 73 27 18
Slovenia 4.7 0.8 75 17 13
Spain 3.5 0.2 63 11 4
Sweden 4.2 0.8 62 14 12
Switzerland* 5.1 0.3 72 10 5
United Kingdom 6.1 1.3 57 19 12
European average 5.5 0.8 71 16 11
North America
Canada 10.1 1.8 77 19 14
United States 11.5 2.9 83 27 21
Asia & Oceania
Australia 9.6 1.4 74 20 11
Japan 2.5 0.7 66 26 18
Singapore 8.7 2.1 80 31 19
Taiwan 7.0 2.3 82 37 27
* EFTA
74
E
N
T
R
E
P
R
E
N
E
U
R
S
H
I
P
I
N
I
R
E
L
A
N
D
2
0
1
4
75
E
N
T
R
E
P
R
E
N
E
U
R
S
H
I
P
I
N
I
R
E
L
A
N
D
2
0
1
4
TABLE K - INTERNATIONAL ORIENTATION: EARLY STAGE ENTREPRENEURS
Early Stage Entrepreneurs No customers 1-25% 26-75% 76-100%
entrepreneurs with more outside customers customers customers
with more than than 50% of country outside country outside country outside country
50% of customers customers
outside country outside country
Adult Early stage Early stage Early stage Early stage Early stage
Population entrepreneurs entrepreneurs entrepreneurs entrepreneurs entrepreneurs
% % % % % %
Europe (EU and EFTA)
Austria 1.4 17 34 41 14 10
Belgium 1.2 22 28 39 17 16
Croatia 2.4 31 21 41 15 23
Denmark 0.5 9 71 16 7 6
Estonia 1.2 13 29 47 14 10
Finland 0.6 11 55 32 3 10
France 0.9 17 36 42 10 12
Germany 1.0 18 43 35 13 8
Greece 1.1 14 42 41 7 11
Hungary 1.5 16 33 44 16 8
Ireland 1.1 18 40 36 14 10
Italy 0.5 12 50 29 15 6
Lithuania 1.6 14 25 52 14 9
Luxembourg 1.8 25 4 54 25 17
Netherlands 0.9 9 49 35 9 7
Norway* 0.3 5 67 23 6 4
Poland 0.8 9 17 69 9 6
Portugal 1.3 13 24 54 12 10
Romania 2.0 18 24 47 21 9
Slovakia 1.3 11 14 66 13 6
Slovenia 1.3 21 29 40 20 12
Spain 0.5 9 68 19 7 6
Sweden 1.3 20 34 39 13 14
Switzerland* 1.2 17 29 40 21 10
United Kingdom 1.2 11 60 25 9 6
European average 1.2 15 37 40 13 10
North America
Canada 1.8 14 17 64 12 7
United States 1.3 10 16 69 9 5
Asia & Oceania
Australia 1.1 9 17 72 8 4
Japan 0.3 7 74 15 10 1
Singapore 3.0 28 24 39 22 15
Taiwan 1.1 12 53 31 8 9
* EFTA
76
E
N
T
R
E
P
R
E
N
E
U
R
S
H
I
P
I
N
I
R
E
L
A
N
D
2
0
1
4
77
E
N
T
R
E
P
R
E
N
E
U
R
S
H
I
P
I
N
I
R
E
L
A
N
D
2
0
1
4
TABLE L - SECTOR OF ACTIVITY: EARLY STAGE ENTREPRENEURS
Extractive Transformative Business Consumer High or medium
sectors sectors
1
orientated orientated technology
service sectors
2
service sectors
3
sectors only
4
Early stage Early stage Early stage Early stage Early stage
entrepreneurs entrepreneurs entrepreneurs entrepreneurs entrepreneurs
% % % % %
Europe (EU and EFTA)
Austria 4 18 35 44 8
Belgium 9 11 29 50 2
Croatia 10 23 31 36 5
Denmark 4 19 43 34 17
Estonia 7 31 30 32 3
Finland 13 25 24 38 3
France 1 29 31 38 11
Germany 1 17 37 45 7
Greece 3 29 14 54 5
Hungary 15 27 22 35 7
Ireland 7 29 34 30 9
Italy 9 18 23 50 6
Lithuania 10 29 17 45 4
Luxembourg 2 11 40 47 8
Netherlands 2 27 30 41 6
Norway* 12 18 36 35 8
Poland 2 42 24 32 4
Portugal 5 23 22 50 3
Romania 27 31 21 21 7
Slovakia 5 35 25 35 6
Slovenia 11 25 33 31 8
Spain 4 15 29 52 9
Sweden 10 12 47 31 18
Switzerland* 6 16 32 46 8
United Kingdom 0 27 27 45 9
European average 7 23 30 40 7
North America
Canada 8 21 35 36 6
United States 3 19 36 43 9
Asia & Oceania
Australia 6 24 33 36 11
Japan 1 25 25 49 7
Singapore 0 15 23 61 6
Taiwan 4 23 19 54 4
* EFTA
1
Includes construction, manufacturing, transport, wholesale, utilities.
2
Includes ?nance, insurance, real estate, all business services.
3
Includes retail, motor, lodgings, restaurants, personal services, health, education, recreation.
4
OECD classi?cations of sectors.
76
E
N
T
R
E
P
R
E
N
E
U
R
S
H
I
P
I
N
I
R
E
L
A
N
D
2
0
1
4
77
E
N
T
R
E
P
R
E
N
E
U
R
S
H
I
P
I
N
I
R
E
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A
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D
2
0
1
4
T
A
B
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p
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6
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*
E
F
T
A
78
E
N
T
R
E
P
R
E
N
E
U
R
S
H
I
P
I
N
I
R
E
L
A
N
D
2
0
1
4
79
E
N
T
R
E
P
R
E
N
E
U
R
S
H
I
P
I
N
I
R
E
L
A
N
D
2
0
1
4
TABLE N - RATES OF ENTREPRENEURSHIP BY GENDER
Early stage Early stage Owner managers Owner managers
entrepreneurs entrepreneurs of established of established
businesses businesses
Male adult Female adult Rate as a ratio Male adult Female adult Rate as a ratio
population population Men : Women population population Men : Women
% % % %
Europe (EU and EFTA)
Austria 10.4 7.1 1.5 : 1 12.9 6.9 1.9 : 1
Belgium 7.6 3.1 2.4 : 1 4.8 2.3 2.1 : 1
Croatia 11.3 4.7 2.4 : 1 5.0 2.3 2.2 : 1
Denmark 7.1 3.8 1.9 : 1 7.5 2.7 2.8 : 1
Estonia 11.2 7.7 1.5 : 1 7.0 4.4 1.6 : 1
Finland 6.6 4.6 1.4 : 1 9.2 4.0 2.3 : 1
France 6.7 4.0 1.7 : 1 4.2 1.7 2.5 : 1
Germany 6.5 4.0 1.6 : 1 7.1 3.1 2.3 : 1
Greece 9.9 5.8 1.7 : 1 18.0 7.7 2.3 : 1
Hungary 13.5 5.3 2.5 : 1 11.0 5.0 2.2 : 1
Ireland 8.9 4.2 2.1 : 1 13.8 6.1 2.3 : 1
Italy 5.7 3.1 1.8 : 1 5.7 2.9 2.0 : 1
Lithuania 16.2 6.8 2.4 : 1 11.6 4.3 2.7 : 1
Luxembourg 8.9 5.3 1.7 : 1 4.3 3.0 1.4 : 1
Netherlands 11.6 7.3 1.6 : 1 12.1 7.1 1.7 : 1
Norway* 7.3 4.0 1.8 : 1 7.0 3.7 1.9 : 1
Poland 12.5 6.0 2.1 : 1 10.0 4.6 2.2 : 1
Portugal 11.7 8.4 1.4 : 1 10.0 5.3 1.9 : 1
Romania 16.0 6.6 2.4 : 1 10.1 5.1 2.0 : 1
Slovakia 14.4 7.4 1.9 : 1 11.7 3.9 3.0 : 1
Slovenia 8.3 4.3 1.9 : 1 6.6 2.8 2.4 : 1
Spain 6.4 4.6 1.4 : 1 8.0 6.0 1.3 : 1
Sweden 9.5 3.8 2.5 : 1 8.0 4.9 1.6 : 1
Switzerland* 7.0 7.2 1.0 : 1 10.0 8.1 1.2 : 1
United Kingdom 13.8 7.5 1.8 : 1 8.8 4.2 2.1 : 1
European average 10.0 5.5 1.8 : 1 9.0 4.5 2.0 : 1
North America
Canada 16.2 9.9 1.6 : 1 11.0 7.8 1.4 : 1
United States 16.5 11.2 1.5 : 1 8.8 5.2 1.7 : 1
Asia & Oceania
Australia 16.1 10.1 1.6 : 1 10.3 9.0 1.2 : 1
Japan 6.1 1.5 4.1 : 1 9.8 4.5 2.2 : 1
Singapore 14.8 7.2 2.1 : 1 3.7 2.1 1.8 : 1
Taiwan 10.2 6.8 1.5 : 1 15.0 9.4 1.6 : 1
* EFTA
78
E
N
T
R
E
P
R
E
N
E
U
R
S
H
I
P
I
N
I
R
E
L
A
N
D
2
0
1
4
79
E
N
T
R
E
P
R
E
N
E
U
R
S
H
I
P
I
N
I
R
E
L
A
N
D
2
0
1
4
TABLE O - MOTIVES BY GENDER: EARLY STAGE ENTREPRENEURS
Early stage Early stage Early stage Early stage
entrepreneurs entrepreneurs entrepreneurs entrepreneurs
motivated by motivated by motivated by motivated by
opportunity opportunity necessity necessity
Male Female Male Female
% % % %
Europe (EU and EFTA)
Austria 88 89 12 11
Belgium 69 62 31 38
Croatia 53 51 47 49
Denmark 94 95 6 5
Estonia 85 81 15 19
Finland 85 82 15 18
France 88 76 12 24
Germany 79 73 21 27
Greece 69 55 31 45
Hungary 70 57 30 43
Ireland 74 61 26 39
Italy 82 91 18 9
Lithuania 83 73 17 27
Luxembourg 88 88 12 12
Netherlands 83 85 17 15
Norway* 100 89 0 11
Poland 62 61 38 39
Portugal 76 68 24 32
Romania 71 69 29 31
Slovakia 67 65 33 35
Slovenia 77 66 23 34
Spain 73 64 27 36
Sweden 93 88 7 12
Switzerland* 88 80 12 20
United Kingdom 85 90 15 10
European average 78 74 22 26
North America
Canada 86 78 14 22
United States 88 83 12 17
Asia & Oceania
Australia 83 84 17 16
Japan 82 75 18 25
Singapore 88 88 12 12
Taiwan 88 85 12 15
* EFTA
80
E
N
T
R
E
P
R
E
N
E
U
R
S
H
I
P
I
N
I
R
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L
A
N
D
2
0
1
4
81
E
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T
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S
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2
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1
4
TABLE R - SECTOR OF ACTIVITY: OWNER MANAGERS
Extractive Transformative Business Consumer High or medium
sectors sectors
1
orientated orientated technology
service sectors
2
service sectors
3
sectors only
4
Owner managers Owner managers Owner managers Owner managers Owner managers
of established of established of established of established of established
businesses businesses businesses businesses businesses
% % % % %
Europe (EU and EFTA)
Austria 11 27 35 27 8
Belgium 10 26 32 32 5
Croatia 24 33 23 20 4
Denmark 18 25 30 28 11
Estonia 15 28 28 29 2
Finland 27 24 19 30 5
France 32 28 24 16 na
Germany 6 20 34 40 10
Greece 6 39 14 42 4
Hungary 9 34 29 28 6
Ireland 27 29 26 18 7
Italy 13 26 26 35 3
Lithuania 20 39 12 29 4
Luxembourg 15 14 36 35 6
Netherlands 11 26 25 38 3
Norway* 18 27 27 28 7
Poland 7 41 22 30 6
Portugal 7 33 19 41 1
Romania 13 52 15 20 4
Slovakia 6 41 30 22 3
Slovenia 5 39 30 26 12
Spain 10 26 22 43 7
Sweden 20 21 36 24 9
Switzerland* 13 20 28 39 6
United Kingdom 7 27 39 26 11
European average 14 30 26 30 6
North America
Canada 8 17 46 29 11
United States 8 18 46 28 6
Asia & Oceania
Australia 10 36 28 26 7
Japan 4 39 24 32 6
Singapore 2 31 34 34 6
Taiwan 2 33 9 56 5
* EFTA
1
Includes construction, manufacturing, transport, wholesale, utilities.
2
Includes ?nance, insurance, real estate, all business services.
3
Includes retail, motor, lodgings, restaurants, personal services, health, education, recreation.
4
OECD classi?cations of sectors.
82
E
N
T
R
E
P
R
E
N
E
U
R
S
H
I
P
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N
I
R
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L
A
N
D
2
0
1
4
83
E
N
T
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P
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4
TABLE V - ‘CULTURE’ PERCEPTIONS: ADULT POPULATION
Entrepreneurship Success at Supportive media
is a good entrepreneurship coverage of
career choice has high status entrepreneurs
Adult population Adult population Adult population
% % %
Europe (EU and EFTA)
Austria na na na
Belgium 52 52 51
Croatia 63 47 40
Denmark na na na
Estonia 56 65 43
Finland 41 84 67
France 59 70 39
Germany 52 79 51
Greece 58 66 46
Hungary 47 72 33
Ireland 49 77 76
Italy 65 72 48
Lithuania 69 58 55
Luxembourg 41 68 44
Netherlands 79 68 56
Norway* 58 83 na
Poland 63 56 55
Portugal 62 63 70
Romania 74 75 71
Slovakia 45 58 53
Slovenia 53 72 58
Spain 54 49 46
Sweden 52 71 60
Switzerland* 42 66 50
United Kingdom 60 75 58
European average 56 67 53
North America
Canada 57 70 68
United States 65 77 76
Asia & Oceania
Australia 53 67 73
Japan 31 56 59
Singapore 52 63 79
Taiwan 75 63 84
* EFTA
86
E
N
T
R
E
P
R
E
N
E
U
R
S
H
I
P
I
N
I
R
E
L
A
N
D
2
0
1
4
87
E
N
T
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E
P
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N
E
U
R
S
H
I
P
I
N
I
R
E
L
A
N
D
2
0
1
4
TABLE W - PERSONAL CONTEXT: ADULT POPULATION
Know a recent Opportunities Skills & Knowledge Fear of failure
entrepreneur
1
in local area
2
to start-up prevent start-up
Adult population Adult population Adult population Adult population
% % % %
Europe (EU and EFTA)
Austria 35 44 49 44
Belgium 19 36 30 50
Croatia 25 18 46 44
Denmark 32 60 35 41
Estonia 42 49 42 50
Finland 43 42 35 42
France 36 28 35 43
Germany 24 38 36 46
Greece 26 20 46 71
Hungary 29 23 41 48
Ireland 36 33 47 42
Italy 24 27 31 57
Lithuania 32 32 33 49
Luxembourg 35 43 38 51
Netherlands 33 46 44 39
Norway* 32 63 31 33
Poland 39 31 54 58
Portugal 29 23 47 48
Romania 29 32 48 48
Slovakia 43 24 54 46
Slovenia 40 17 49 39
Spain 36 23 48 47
Sweden 37 70 37 41
Switzerland* 29 44 42 34
United Kingdom 31 41 46 38
European average 33 36 42 46
North America
Canada 31 56 49 39
United States 29 51 53 33
Asia & Oceania
Australia 28 46 46 44
Japan 16 7 12 44
Singapore 19 17 21 39
Taiwan 36 33 29 40
* EFTA
1
Knows someone who has started a business in the past 2 years.
2
Opportunities to start a business in the next six months (July - December 2014).
88
E
N
T
R
E
P
R
E
N
E
U
R
S
H
I
P
I
N
I
R
E
L
A
N
D
2
0
1
4
89
E
N
T
R
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P
R
E
N
E
U
R
S
H
I
P
I
N
I
R
E
L
A
N
D
2
0
1
4
TABLE X - INFORMAL INVESTORS: RATES AND AMOUNTS
Informal Total invested in
investors
1
past 3 years
Adult population
% Euros
2
Europe (EU and EFTA)
Austria 5.8 5,000
Belgium 3.2 32,600
Croatia 2.7 34,800
Denmark 3.4 113,400
Estonia 6.8 9,700
Finland 3.1 21,200
France 3.4 42,400
Germany 3.8 33,400
Greece 3.5 25,400
Hungary 4.2 5,700
Ireland 3.4 40,500
Italy 2.8 34,700
Lithuania 7.1 26,600
Luxembourg 6.1 43,200
Netherlands 3.3 17,600
Norway* 4.2 43,400
Poland 3.7 30,500
Portugal 2.2 11,800
Romania 4.6 52,900
Slovakia 8.6 19,300
Slovenia 4.7 21,900
Spain 3.7 18,300
Sweden 5.6 8,200
Switzerland* 4.8 55,300
United Kingdom 2.1 25,700
European average 4.3 30,900
North America
Canada 5.4 38,400
United States 6.2 37,200
Asia & Oceania
Australia 5.1 32,400
Japan 0.9 77,500
Singapore 3.9 13,700
Taiwan 6.2 25,100
* EFTA
1
Provided funds for a new business in the past three years.
2
Exchange rate US$1.27 to Euro.
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The Global Entrepreneurship Monitor (GEM) began in 1999 as a joint project between Babson College
(USA) and London Business School (UK). The aim was to consider why some countries are more
‘entrepreneurial’ than others. 16 years on, GEM is the world’s foremost study of entrepreneurship,
providing unique measures of the involvement of individuals in entrepreneurial activity and is the richest
resource of information on the subject, publishing a range of global, national and ‘special topic’ reports
on an annual basis.
The support of Enterprise Ireland, with the support of the Department of Jobs, Enterprise, and
Innovation, made possible the inclusion of Ireland in the GEM research cycle in 2014.
Through a vast, centrally coordinated, internationally executed data collection effort, GEM is able to
provide high quality information and comprehensive reports, which greatly enhance the understanding
of the entrepreneurial phenomenon.
In numbers, GEM at global level is:
• 16 years of data
• 200,000+ interviews a year
• 100+ countries
• 500+ specialists in entrepreneurship research
• 300+ academic and research institutions
• 200+ funding institutions
In each economy, GEM looks at two elements:
• The entrepreneurial behaviour and attitudes of individuals
• The national context and how that impacts entrepreneurship
The information gained, carefully analysed by local GEM researchers, allows a deep understanding of
the environment for entrepreneurship and provides valuable insights.
This appendix contains information on GEM methodology focusing on the annual GEM research cycle,
which involves an adult population survey and a key informant survey, and explains the de?nitions
used in GEM.
APPENDIX 1:
GEM METHODOLOGY
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ADULT POPULATION SURVEY
The GEM model is primarily based on an adult population survey (APS). Professional survey research
?rms in each country administer the APS, which are based on a random sample of approximately
2,000 adults.
The main questions in the APS are identical in each country. For the purposes of the research,
GEM uses a very comprehensive de?nition of entrepreneurship, which encompasses any type of
entrepreneurial initiative, including self-employment.
Sampling procedures vary somewhat, but all of the survey ?rms are able to provide samples that
are, when properly weighted, representative of the adult population in each country in terms of key
demographics and geographical coverage. In Ireland the survey is con?ned to those aged 18 to 64
inclusive.
Telephone interviews are utilised in Ireland, as in most of the developed countries.
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In 2014 60% of the
calls were placed to landlines and 40% to mobile phones. As GEM concentrates on the entrepreneurs
themselves rather than their businesses, the respondents are interviewed at home rather than in their
workplace.
The manner of the running of the APS across all countries is coordinated by the Global Entrepreneurship
Research Association (GERA). GERA also combines the outputs from the individual country surveys
to produce a master dataset. The analysis and interpretation of this data at national level is the
responsibility of the national team.
KEY INFORMANT SURVEY
Key informants are experts and entrepreneurs. At least 25% of the key informants are entrepreneurs.
65
Expert informants are chosen by reputation and referrals to represent the nine entrepreneurial
framework dimensions in the GEM model. These are Finance, Government Policies, Government
Programmes, Education and Training, R&D Transfer, Commercial Infrastructure, Internal Market
Openness, Physical Infrastructure and Culture and Social Norms.
The key informants are asked to complete a detailed questionnaire. The questionnaire used is identical
in all countries involved in the survey. The questionnaire is similar to the adult population survey and
also includes an additional range of topics relating to the entrepreneurial framework conditions, the
entrepreneurial capacity and opportunity recognition perceptiveness of the adult population, as well
as other socio-demographic items.
In Ireland, there are approximately 40 on the key informant panel and new members are added to the
panel as required each year.
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A random telephone survey was carried out in June 2014.
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In Ireland 58% of the key informants are entrepreneurs.
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GEM DEFINITIONS
Aspiring entrepreneurs
Aspiring entrepreneurs are those who expect to start a business in the next three years. The rate is for
those in the adult population aged 18-64 years inclusive and excludes those who are currently active
as entrepreneurs.
Nascent entrepreneurs
Nascent entrepreneurs are those actively planning a new venture. These entrepreneurs have done
something during the previous twelve months to help start a new business, that he or she will at least
part own. Activities such as organising the start-up team, looking for equipment, saving money for
the start-up, or writing a business plan would all be considered as active commitments to starting
a business. Wages or salaries will not have been paid for more than three months in respect of the
new business. Many of these people are still in fulltime employment. The rate is for those in the adult
population aged 18-64 years inclusive.
New business owners
New business owners are entrepreneurs who at least part own and manage a new business that
is between 4 and 42 months old and have not paid salaries for longer than this period. These new
ventures are in the ?rst 42 months after the new venture has been set up. The rate is for those in the
adult population aged 18-64 years inclusive.
Total early stage entrepreneurial activity (TEA rate)
As its name implies, total early stage entrepreneurial activity refers to the total rate of early stage
entrepreneurial activity among the adult population aged 18-64 years inclusive. In some instances, this
rate is less than the combined percentages for nascent and new business owners. This is because,
in circumstances where respondents qualify as both a nascent and a new business owner, they are
counted only once.
Owner managers of established businesses
In addition to those people who are currently involved in the early stages of a business, there are
also many people who have set up businesses that they have continued to own and manage. These
people are included in the established business owner index which captures the percentage of people
in the population that have set up businesses, which they have continued to own and manage and
which has paid wages or salaries for more than 42 months. The rate is for those in the adult population
aged 18-64 years inclusive.
Entrepreneurial employee activities (intrapreneurs)
GEM operationalises entrepreneurial employee activity as a situation in which employees develop new
products/ services, or set up a new business entity, but not—for instance—work on optimising internal
operations of a ?rm. Respondents participating in the GEM survey were asked if they, in the past three
years, were actively involved in and had a leading role in either idea development for a new activity
or in preparation and implementation of a new activity. GEM collects data for measuring intensity of
entrepreneurial employee activity.
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THE ENTREPRENEURSHIP PROCESS
GEM describes entrepreneurial activity as a process and measures different phases of this process
from conception through ?rm birth to persistence.
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Figure 3 illustrates the entrepreneurial process with reference to these de?nitions.
Source: Adapted from Global Entrepreneurship Monitor 2014 Global Report, Slavica Singer, José Ernesto Amorós, Daniel Moska, page 23
FIGURE 3: THE ENTREPRENEURSHIP PROCESS & GEM OPERATIONAL DEFINITIONS
Discontinuation of Business
Owner Manager of an
Established Business
(more than 3.5 years old)
Potential Entrepreneur:
Opportunities,
Knowledge and Skills
Conception Firm Birth
Early-stage Entrepreneurship Pro?le
Socio-demographics
> Sex
> Age
Impact
> Business growth
> Innovation
> Internationalization
Industry
> Sector
Persistence
Nascent Entrepreneur:
Involved in Setting
Up a Business
New Business Owner
(up to 3.5 years old)
TOTAL EARLY STAGE ENTREPRENEURIAL ACTIVITY (TEA)
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APPENDIX 2:
GLOBAL RESULTS
FIGURE 4: GEM’S GLOBAL COVERAGE: MAP OF ECONOMIES INCLUDED IN GEM 2014
AFRICA
Angola
Botswana
Burkina Faso
Cameroon
South Africa
Uganda
ASIA & OCEANIA
Australia
China
India
Indonesia
Iran
Japan
Kazakhstan
Malaysia
Philippines
Qatar
Singapore
Taiwan
Thailand
Vietnam
LATIN AMERICA &
CARIBBEAN
Argentina
Barbados
Belize
Bolivia
Brazil
Chile
Colombia
Costa Rica
Ecuador
El Salvador
Guatemala
Jamaica
Mexico
Panama
Peru
Puerto Rico
Suriname
Trinidad & Tobago
Uruguay
EUROPEAN UNION
Austria
Belgium
Croatia
Denmark
Estonia
Finland
France
Germany
Greece
Hungary
Ireland
Italy
Lithuania
Luxembourg
Netherlands
Poland
Portugal
Romania
Slovakia
Slovenia
Spain
Sweden
United Kingdom
NON-EUROPEAN
UNION
Bosnia and
Herzegovina
Georgia
Kosovo
Norway
Russia
Switzerland
NORTH AMERICA
Canada
United States
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ENTREPRENEURIAL ACTIVITY IN GEM ECONOMIES IN 2014 BY REGION
Nascent New business Early stage Established Discontinuation
entrepreneurship ownership entrepreneurial business of businesses
rate rate activity (TEA) ownership rate
AFRICA
Angola 9.5 12.4 21.5 6.5 15.1
Botswana 23.1 11.1 32.8 5 15.1
Burkina Faso 12.7 9.7 21.7 17.7 10.8
Cameroon 26.4 13.7 37.4 11.5 17.7
South Africa 3.9 3.2 7 2.7 3.9
Uganda 8.9 28.1 35.5 35.9 21.2
Average (unweighted) 14.1 13 26 13.2 14
ASIA & OCEANIA
Australia 7.6 5.7 13.1 9.8 3.9
China 5.4 10.2 15.5 11.6 1.4
India 4.1 2.5 6.6 3.7 1.2
Indonesia 4.4 10.1 14.2 11.9 4.2
Iran 7.5 8.7 16 10.9 5.7
Japan 2.7 1.3 3.8 7.2 1.1
Kazakhstan 8.1 6.2 13.7 7.4 2.9
Malaysia 1.4 4.6 5.9 8.5 2
Philippines 8.2 10.5 18.4 6.2 12.6
Qatar 11.3 5.4 16.4 3.5 4.8
Singapore 6.4 4.8 11 2.9 2.4
Taiwan 4.4 4.1 8.5 12.2 5.1
Thailand 7.6 16.7 23.3 33.1 4.2
Vietnam 2 13.3 15.3 22.2 3.6
Average (unweighted) 5.8 7.4 13 10.8 3.9
LATIN AMERICA & CARIBBEAN
Argentina 9.5 5.2 14.4 9.1 4.9
Barbados 8.5 4.2 12.7 7.1 3.7
Belize 4.3 3 7.1 3.7 4.7
Bolivia 21.5 7.1 27.4 7.6 6.9
Brazil 3.7 13.8 17.2 17.5 4.1
Chile 16.6 11 26.8 8.8 8.3
Colombia 12.4 6.7 18.5 4.9 5.6
Costa Rica 7.6 3.7 11.3 2.5 4.9
Ecuador 24.5 9.9 32.6 17.7 8.1
El Salvador 11.4 8.7 19.5 12.7 10.8
Guatemala 12 9.2 20.4 7.4 4.4
Jamaica 7.9 11.9 19.3 14.4 6.3
Mexico 12.7 6.4 19 4.5 5.6
Panama 13.1 4.1 17.1 3.4 4.5
Peru 23.1 7.3 28.8 9.2 8
Puerto Rico 8.8 1.3 10 1.3 3.6
Suriname 1.9 0.2 2.1 5.2 0.2
Trinidad & Tobago 7.5 7.4 14.6 8.5 2.8
Uruguay 10.5 5.7 16.1 6.7 4.4
Average (unweighted) 11.4 6.7 17.6 8 5.4
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ENTREPRENEURIAL ACTIVITY IN GEM ECONOMIES IN 2014 BY REGION
Nascent New business Early stage Established Discontinuation
entrepreneurship ownership entrepreneurial business of businesses
rate rate activity (TEA) ownership rate
EUROPEAN UNION
Austria 5.8 3.1 8.7 9.9 2.7
Belgium 2.9 2.5 5.4 3.5 2.3
Croatia 6 2 8 3.6 3.8
Denmark 3.1 2.5 5.5 5.1 2.2
Estonia 6.3 3.5 9.4 5.7 2
Finland 3.4 2.3 5.6 6.6 2.3
France 3.7 1.7 5.3 2.9 1.7
Germany 3.1 2.3 5.3 5.2 1.7
Greece 4.6 3.4 7.9 12.8 2.8
Hungary 5.6 3.9 9.3 7.9 3.1
Ireland 4.4 2.5 6.5 9.9 1.9
Italy 3.2 1.3 4.4 4.3 2.1
Lithuania 6.1 5.3 11.3 7.8 2.9
Luxembourg 4.9 2.3 7.1 3.7 2.6
Netherlands 5.2 4.5 9.5 9.6 1.8
Poland 5.8 3.6 9.2 7.3 4.2
Portugal 5.8 4.4 10 7.6 3
Romania 5.3 6.2 11.3 7.6 3.2
Slovakia 6.7 4.4 10.9 7.8 5.2
Slovenia 3.8 2.7 6.3 4.8 1.5
Spain 3.3 2.2 5.5 7 1.9
Sweden 4.9 1.9 6.7 6.5 2.1
United Kingdom 6.3 4.5 10.7 6.5 1.9
Average (unweighted) 4.8 3.2 7.8 6.7 2.6
NON-EUROPEAN UNION
Bosnia and Herzegovina 4.5 2.9 7.4 6.7 4.5
Georgia 4.1 3.2 7.2 7.3 2.5
Kosovo 2.5 1.8 4 2.1 6.6
Norway 2.8 3 5.7 5.4 1.9
Russia 2.4 2.4 4.7 3.9 1.2
Switzerland 3.4 3.8 7.1 9.1 1.5
Average (unweighted) 3.3 2.8 6 5.7 3
NORTH AMERICA % % % % %
Canada 7.9 5.6 13 9.4 4.2
United States 9.7 4.3 13.8 6.9 4
Average (unweighted) 8.8 4.9 13.4 8.2 4.1
Source: GEM Global Report 2014.
doc_201632458.pdf
In such a detailed description relating to global entrepreneurship monitor (gem) the annual report for ireland.
GEM research in Ireland and this report are supported by Enterprise Ireland,
with the support of the Department of Jobs, Enterprise and Innovation
Global Entrepreneurship Monitor (GEM)
The Annual Report for Ireland
Paula Fitzsimons
Colm O’Gorman
ENTREPRENEURSHIP
IN IRELAND 2014
The 2014 GEM Report for Ireland is sponsored by Enterprise Ireland,
with the support of the Department of Jobs, Enterprise and Innovation.
The ?ndings of this independent report, however, do not necessarily
represent the views of these organisations.
Although data used in this report is collected by the GEM consortium,
its analysis and interpretation is the sole responsibility of the authors.
The authors, for their part, have attempted to ensure accuracy and
completeness of the information contained in this publication. No
responsibility can be accepted, however, for any errors and inaccuracies
that occur.
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LIST OF TABLES AND FIGURES 09
ACKNOWLEDGEMENTS 13
AUTHORS’ DETAILS 15
FOREWORD 17
RECENT ENTREPRENEURS FEATURED ON THE COVER 19
SECTION 1 EXECUTIVE SUMMARY 21
SECTION 2 ENTREPRENEURSHIP IN IRELAND IN 2014 25
2.1 Measuring entrepreneurship 25
2.2 Ireland’s rate of entrepreneurship - the TEA Index 26
2.3 Intrapreneurship - entrepreneurs within organisations 27
SECTION 3 ENTREPRENEURS IN IRELAND IN 2014 29
3.1 Introduction 29
3.2 Nascent entrepreneurs 30
3.3 New business owners 31
3.4 New business owners with signi?cant growth potential 32
3.5 Millennials - young entrepreneurs 34
3.6 Female entrepreneurs 35
3.7 Owner managers of established businesses 39
SECTION 4 IRELAND’S ENTREPRENEURIAL ECO-SYSTEM 41
4.1 The policy context 41
4.2 Strengths in the eco-system 42
4.3 Constraints in the eco-system 43
4.4 Entrepreneurship in Dublin and the rest of Ireland 46
CONTENTS
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SECTION 5 INSIGHTS FROM OTHER COUNTRIES 49
5.1 Policy priorities 49
5.2 Maximising impact 50
5.3 Financing new businesses: informal investors 52
5.4 ‘Missing’ entrepreneurs 53
SECTION 6 PROFILES OF RECENT ENTREPRENEURS 55
Ben Harris 56
Isolde Johnson 57
Julie Currid 58
Moira Kiely 59
Myles Murray 60
Simon Lynch 61
Wayne Byrne 62
Yvonne Brady 63
SECTION 7 COMPARATIVE INTERNATIONAL DATA ON ENTREPRENEURSHIP 65
APPENDIX 1: GEM METHODOLOGY 89
APPENDIX 2: GLOBAL RESULTS 93
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TABLES (SECTION 2 TO SECTION 4 INCLUSIVE)
Table 1 Entrepreneurship in Ireland: 2010-2014 26
Table 2 New business owners and intrapreneurs: selected countries 27
Table 3 Nascent entrepreneurs in Ireland: 2010-2014 30
Table 4 New business owners in Ireland: 2010-2014 31
Table 5 Growth aspirations: new business owners 32
Table 6 Customers in overseas markets: new business owners 32
Table 7 Innovativeness: new businesses 33
Table 8 Market expansion index: new business owners 33
Table 9 Entrepreneurial aspirations and activities: millennials 34
Table 10 Culture, personal context and entrepreneurship training: millennials 34
Table 11 Entrepreneurship by gender: 2010-2014 35
Table 12 Aspiring to start a business by gender 36
Table 13 Sector of activity by gender: early stage entrepreneurs 37
Table 14 Growth aspirations by gender: early stage entrepreneurs 37
Table 15 Customers in overseas markets by gender: early stage entrepreneurs 38
Table 16 Highest education attainment level by gender: early stage entrepreneurs 38
Table 17 Market expansion index: owner managers and new business owners 40
Table 18 Participation in training on starting a business 45
Table 19 Culture, personal context and aspirations: Dublin and the rest of Ireland 47
Table 20 Entrepreneurial activity: Dublin and the rest of Ireland 47
FIGURES
Figure 1 TEA index ranking 26
Figure 2 Intrapreneurship ranking 27
Figure 3 The entrepreneurship process and GEM operational de?nitions 92
Figure 4 GEM’s global coverage: map of economies included in GEM 2014 93
LIST OF TABLES AND FIGURES
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TABLES (SECTION 7): COMPARATIVE INTERNATIONAL DATA ON ENTREPRENEURSHIP
RATES OF ACTIVITY
Table A Rates of entrepreneurship 65
Table B Rates of intrapreneurship 66
Table C Rates of aspiring entrepreneurs 67
Table D Business exits: rates and reasons 68
CHARACTERISTICS OF EARLY STAGE ENTREPRENEURS
Table E Entrepreneurial teams 69
Table F Work and household income: early stage entrepreneurs 70
Table G Motives: early stage entrepreneurs 71
Table H Education level: early stage entrepreneurs 72
Table I Age: early stage entrepreneurs 73
ENTREPRENEURS WITH SIGNIFICANT GROWTH POTENTIAL
Table J Growth aspirations: early stage entrepreneurs 74
Table K International orientation: early stage entrepreneurs 75
Table L Sector of activity: early stage entrepreneurs 76
Table M Innovativeness: early stage entrepreneurs 77
MEN AND WOMEN
Table N Rates of entrepreneurship by gender 78
Table O Motives by gender: early stage entrepreneurs 79
Table P Personal context by gender: adult population 80
ESTABLISHED OWNER MANAGERS
Table Q Growth aspirations and international orientation: owner managers 81
Table R Sector of activity: owner managers 82
Table S Innovativeness: owner managers 83
Table T Education level and household income: owner managers 84
Table U Age: owner managers 85
ATTITUDES AND PERCEPTIONS IN THE ADULT POPULATION
Table V ‘Culture’ perceptions: adult population 86
Table W Personal context: adult population 87
INFORMAL INVESTMENT ACTIVITY
Table X Informal Investors: rates and amounts 88
APPENDIX 2: ENTREPRENEURIAL ACTIVITY IN THE
GEM ECONOMIES IN 2014 BY REGION 94
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Thanks to the sponsorship of Enterprise Ireland, with the support of the Department of Jobs,
Enterprise and Innovation, Ireland is included in the 2014 GEM research cycle. We are very grateful
to our sponsors for their support and for the importance they place on entrepreneurship. As the
economy begins to recover, policy makers are focused on the contribution that entrepreneurs can
make to renewed growth and the creation of employment. GEM research and analysis is in a position
to provide important data to inform and shape policy choices.
The Irish GEM team would like to thank all the members of the public who participated in our survey.
We are very grateful to them as without their participation, the adult population survey, on which GEM
research is primarily based, could not be completed.
We are also grateful to all the entrepreneurs and expert informants that were consulted as part of this
research. They gave generously of their time and their insights as always enriched our understanding
of the changing environment for entrepreneurship in Ireland.
We thank our colleagues in the national GEM teams, who undertook the research in 2014 in each
of more than seventy economies. We are also grateful to the coordination team in the Global
Entrepreneurship Research Association (GERA). The coordination team manages to skillfully combine
complex data from all the national teams, while ensuring robustness and academic rigour. We also
acknowledge with thanks the assistance of Ian McGlynn, Fitzsimons Consulting, particularly in relation
to the pro?les of the entrepreneurs featured.
Finally, our sincere thanks go to the many readers of the GEM annual reports. By your comments
it appears that many of you ?nd the information of value in a wide variety of circumstances. We are
grateful for your feedback and for your continued interest in the research.
Paula Fitzsimons Colm O’Gorman
fitzsimons consulting
S P ECI AL I S I NG I N E NTRE P RE NE URS HI P AND GROWTH
ACKNOWLEDGEMENTS
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PAULA FITZSIMONS is the founder of Fitzsimons Consulting, which specialises in entrepreneurship
and growth. Paula has been the national coordinator for the Global Entrepreneurship Monitor (GEM)
for Ireland since 2000. She previously served for several years on the governing body of GERA, the
Global Entrepreneurship Research Association, as President of the national teams.
Paula is also the director of Going for Growth, which is focused on peer support as a means of
assisting female entrepreneurs who wish to grow their businesses. Designed to address a gap in
enterprise development, the Going for Growth initiative has been supported from the beginning by
Enterprise Ireland and by the Department of Justice and Equality, which coordinates the European
Social Fund and Irish Exchequer ?nancial support. This year KPMG also become involved in sponsoring
the initiative.
In 2014 Going for Growth was described as an inspiring practice in the OECD/EU report “Missing
Entrepreneurs” and was selected as a Good Practice by the European Institute for Gender Equality
(2014), following a competitive process. A pilot of Going for Growth was successfully completed in
Finland and the intention is to implement the initiative across Europe.
CONTACT DETAILS:
Paula Fitzsimons • Tel: +353 1 845 0770 • E-mail: paula@?tzsimons-consulting.com
COLM O’GORMAN is Professor of Entrepreneurship at Dublin City University Business School. His
research focuses on entrepreneurship, innovation, and growth in new ?rms and in small and medium
sized enterprises (SMEs). Speci?cally he has studied the growth strategies of SMEs, the nature of
managerial work in high growth SMEs, mission statements in SMEs, and internationalisation processes
in International New Ventures, and in SMEs. He has explored the emergence of high-tech ?rms in the
context of cluster dynamics, including a study of the factors that led to the rapid emergence of the
software industry in Ireland during the 1990s. He has examined innovation processes in large ?rms.
Colm has published in international peer-reviewed journals such as Entrepreneurship and Regional
Development, European Planning Studies, Journal of Small Business Management, International
Marketing Review, Organisational Dynamics, R&D Management, Small Business Economics, and
Venture Capital. He has completed several European Union funded research projects. He is co-author
of ‘Enterprise in Action’, a text book on entrepreneurship for Irish students. He has co-authored
eight teaching cases studies on entrepreneurship published by the European Case Clearing House,
including several award winning cases.
CONTACT DETAILS:
Colm O’Gorman • Tel: +353 1 700 6941 • E-mail: [email protected]
AUTHORS’ DETAILS
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FOREWORD
Last year I published Ireland’s ?rst ever national strategy for entrepreneurship. Start-Ups in their ?rst
?ve years of existence contribute two-thirds of all new jobs.
As we set our sights on getting back to full employment we must nurture and support those who
start-up a business and seek to make entrepreneurship part of our DNA.
We have many great entrepreneurs in Ireland but we need more of them.
It is important to benchmark ourselves against other countries as we seek to create a vibrant
environment for start-ups across our country.
I believe that there is real entrepreneurial potential among the young people of this country. This report
suggests that one in ten of those aged under 35 aspire to be an entrepreneur. Those and others like
them, who wish to realise their entrepreneurial dream, should tap into all the support available to them,
so that their new business has the best possible chance of being successful.
There is a great amount of assistance available for these aspiring entrepreneurs to develop the
necessary skills and knowledge that they will need, including through their Local Enterprise Of?ces
and through Enterprise Ireland. I am also heartened by the examples I have seen of successful
entrepreneurs being prepared to reach out on a voluntary basis to support those at an earlier stage
on their entrepreneurial journey.
The pro?les featured in the report remind us that entrepreneurs come from a variety of backgrounds.
For some it is their ?rst entrepreneurial undertaking. Others are serial entrepreneurs. All agree that it is a
tough but rewarding role. They talk of the support that they have received from family and from friends,
as well as from the team that is working with them to realise their vision. They are characterised by
hard work, persistence and belief in their vision. I wish them and all those like them every success. By
starting a new business which is solving a problem for their customers and delivering real value, they
are making a tangible contribution to their local economies and underpinning the return to growth.
RICHARD BRUTON T.D.
Minister for Jobs, Enterprise and Innovation
July 2015
“It is important to benchmark ourselves
against other countries as we seek to
create a vibrant environment for start-ups
across our country.”
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RECENT ENTREPRENEURS FEATURED
ON THE COVER
A pro?le of each of the following entrepreneurs, who have recently set up a new business,
is included in Section 6.
NEW BUSINESS: EVB SPORT LTD
ACTIVITY: Support sportswear for women
LOCATION: Louth
WEBSITE: www.evbsport.com
YVONNE
BRADY
NEW BUSINESS: XHAIL
ACTIVITY: Original music software platform
LOCATION: Wexford
WEBSITE: www.xhail.com
MOIRA
KIELY
NEW BUSINESS: WICKLOW WOLF BREWING COMPANY
ACTIVITY: Producer of Irish craft beers
LOCATION: Wicklow
WEBSITE: www.wicklowwolf.com
SIMON
LYNCH
NEW BUSINESS: THE COOL BEAN COMPANY
ACTIVITY: Healthy superfood consumer product
LOCATION: Dublin
WEBSITE: www.coolbeans.ie
ISOLDE
JOHNSON
NEW BUSINESS: OXYMEM LTD.
ACTIVITY: Energy ef?cient wastewater treatment
LOCATION: Westmeath
WEBSITE: www.oxymem.com
WAYNE
BYRNE
NEW BUSINESS: INITIAFY
ACTIVITY: Online platform for the induction of new staff
LOCATION: Dublin
WEBSITE: www.initiafy.com
JULIE
CURRID
NEW BUSINESS: PMD SOLUTIONS
ACTIVITY: ResipraSense: a breathing rate monitor
LOCATION: Cork
WEBSITE: www.pmd-solutions.com
MYLES
MURPHY
BEN
HARRIS
NEW BUSINESS: DROP
ACTIVITY: Connected scale and recipe app
LOCATION: Dublin
WEBSITE: www.getdrop.com
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How entrepreneurial is Ireland?
Approximately 20,400 individuals started a new business in Ireland in 2014
1
. This is the equivalent to
1,700 a month. This is broadly similar to the years 2010, 2011 and 2012, but is lower than in 2013.
There was a downward trend in 2014 in the GEM TEA Index (the rate of early stage entrepreneurs) in
Ireland. In the rankings of early stage entrepreneurial activity across Europe, Ireland is placed 16
th
in a
group of 25 countries.
However, Ireland rates better in terms of intrapreneurs. One in ?fteen people in the general population
in Ireland are active as intrapreneurs, in that they have been involved in the development of new
activities for their employer in the past three years (e.g. developing or launching new goods or services).
Ireland is ranked 6
th
among 25 European countries in this regard. However, considering only those in
employment, the rate is higher, 11.8%, with Ireland ranking 2
nd
to Denmark.
Ireland’s entrepreneurs
Nascent entrepreneurs: Many adults in Ireland report that they are actively engaged in the early steps
involved in starting a business, though these people are typically still in employment. They have spent
nine months on average working on their idea for a new business. Ireland is ranked 15
th
of 25 European
countries, in terms of the rate of nascent entrepreneurs. The rate in Ireland (4.4%) is broadly similar to
the European average (4.6%).
New business owners: Of the 20,400 individuals who started a new business in Ireland in 2014, about
two thirds are the sole owner of the business. Most of the new business owners (63.5%) do not yet
have employees, though three quarters expect to have employees within the next 5 years. One in six
new business owners aspire to grow quickly, in that they expect to employ more than 20 within the
next 5 years.
Many of these new businesses already have some international sales (customers in overseas
markets), though for most of the new businesses the domestic market is the most signi?cant source
of customers. A small number, one in eight, is ‘born global’, however, in that they already have 75%
of their customers in international markets.
The owners of many of these new businesses perceive that they are innovative - in that their product/
service is new to customers (46%), they have identi?ed a market niche with limited competition (51%),
or the technology they are using is new (30%). Just over half are using the internet to sell their product
or service. Most are in low or non-tech sectors, with 15% in medium or high-tech sectors.
Ireland is ranked 15
th
of 25 European countries in terms of the rate of new business owners. The rate
in Ireland (2.5%), however, is below the European average (3.2%).
Millennials – young entrepreneurs: Those born between 1980 and 1996 (so aged between 18 and 34
in 2014) are more likely to perceive opportunities for new businesses and they have a higher aspiration
to start a business, relative to older age groups (those born before 1980). However, they are not more
active as new business owners. Millennials account for 39% of all new business owners in Ireland.
‘Youth’ entrepreneurs, those aged between 18 and 24, account for less than 6% of new business
owners.
SECTION 1
EXECUTIVE SUMMARY
1
The number of new businesses started in Ireland in 2014 is less than this number, as many new businesses have more than one owner.
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Female entrepreneurs: More men than women start new businesses. In Ireland there are just over
two men that are either a nascent entrepreneur or a new business owner for every female early stage
entrepreneur. Of the 20,400 individuals who started a business in 2014, 14,400 are men and 6,000
are women. Men compared to women continue to be more con?dent in their perception of having the
necessary skills and knowledge to start a business and men have higher growth aspirations for their
new businesses. A higher rate of female entrepreneurs in Ireland are motivated by necessity (39%)
compared to male entrepreneurs (26%). The rate is also high compared to the European average for
female entrepreneurs (26%).
2
Owner managers of established businesses: In 2014, the rate of owner managers (9.9%) in Ireland is
high compared to the average across Europe (6.7%).
Owner managers of established business in Ireland are engaged in a board range of sectors. More
than half of owner managers (59%) have some customers in international markets and 20% have a
quarter or more of their customers outside the country. Owner managers are not as innovative as new
business owners and few (2%) expect to create ten or more jobs within the next ?ve years.
Ireland’s entrepreneurial eco-system
Ireland’s entrepreneurial culture: Ireland’s standing in terms of a generally supportive culture has always
been relatively high and this continues in 2014. Successful entrepreneurs are held in high esteem. In
2014 more people in Ireland consider the media coverage of entrepreneurs to be supportive than is
the case in any other European country.
Self-con?dence, aspirations to entrepreneurship and fear of failure: Almost one in every two people
in Ireland report they have the knowledge and skills to start a business. A much smaller rate aspire to
start a business. For those that are not currently engaged in entrepreneurship, one in fourteen adults
aspires to start a business in the near future. While this is a high absolute number, Ireland ranks 19
th
of
25 European countries in this regard. 42% of the population indicate that fear of failure would prevent
them from becoming an entrepreneur, though this sentiment is commonly reported across European
countries.
Opportunities and motivation: Only half the population consider starting a business a good career
choice, with just one third perceiving good opportunities to start a business. The rate at which Irish
people perceive opportunities declined sharply during the recession and the rate is slowly increasing
again. Compared to other European countries, Ireland is ranked 13
th
of 25 countries in this regard. A
relatively high number of early stage entrepreneurs (30%) report that they are motivated by necessity-
that is they perceive no better alternative for employment.
Financing entrepreneurs: Availability and access to ?nance remains the constraint most frequently
mentioned by the panel of entrepreneurs and experts consulted in Ireland in 2014. For entrepreneurs,
informal venture capital is the most critical early source of funding. While the rate of informal investors
remains relatively low in Ireland (Ireland ranks 17
th
of 25 European countries), the average amount
being committed by each informal investor has increased. An average of €40,500 has been invested
by each informal investor in a new business started by someone else in the period 2011-2014. Ireland
ranks 7
th
of 25 European countries on the average amount invested. The great majority are investing
in a business being started by someone already known to them.
Government policies: Government policies are most frequently cited as fostering entrepreneurial
activity by the key informant panel of experts and entrepreneurs consulted in Ireland. The majority
(80%) believe that the support for new and growing ?rms is a high priority for Government.
Education and training: In general the experts and entrepreneurs consulted are not particularly
complementary about the level of entrepreneurial education delivered through the formal education
system. However, this is also the case in over half of the European countries. In Ireland, 16% of
adults report that they participated in training of this nature at primary or secondary school, with 20%
reporting that they participated in entrepreneurship training since leaving school. There is no signi?cant
difference in the rate of new business owners between those who had entrepreneurship training at
primary or secondary school and those who had not (3.2% versus 2.3%).
2
The average rate across Europe of male early stage entrepreneurs motivated by necessity is 22%.
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Entrepreneurship in Dublin and the rest of Ireland: In Dublin (city and county) more people see
opportunities for new businesses. However this is not associated with higher aspirations to start a
new business, nor is it associated with higher levels of entrepreneurial activity. There are fewer owner
managers of established businesses in Dublin relative to the rest of Ireland.
Insights from other countries
The stated ambition of the Taoiseach and the Government is that Ireland will be among the most
entrepreneurial nations in the world and acknowledged as a world class environment in which to
start and grow a business.
3
To achieve this aim the Minister for Jobs, Enterprise and Innovation
acknowledges that Ireland needs more entrepreneurs starting high quality new businesses that will
develop innovative products, conquer new markets and create more jobs.
4
GEM research is very helpful to policy makers in seeking to achieve these goals, as it helps to identify
which countries across Europe, North America and Asia & Oceania, among other comparable
countries, are performing particularly well in each of the relevant areas.
5
No one country performs exceptionally well across all headings. Section 5 highlights those countries
that may warrant further study by those interested in improving Ireland’s entrepreneurial performance
in terms of these stated policy objectives.
3
An Taoiseach, Enda Kenny, TD writing in the Forward to the National Policy Statement on Entrepreneurship in Ireland, September 2014, page 4.
4
Richard Bruton, TD, Minister for Jobs, Enterprise and Innovation writing in the Forward to the National Policy Statement on Entrepreneurship
in Ireland, September 2014, page 5.
5
The GEM research is carried out in exactly the same way in each of more than seventy economies participating in the cycle. Accordingly,
the results can be compared across countries and Ireland’s relative position ascertained. For the most part, the ?ndings are compared
with other developed countries, in particular with those who were included in the GEM 2014 research cycle from the European Union
and EFTA, North America and Asia & Oceania.
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2.1 MEASURING ENTREPRENEURSHIP
In this section an overview of entrepreneurship in Ireland in 2014 is presented. The rate of early stage
entrepreneurial activity and the rate of intrapreneurship is examined.
The information provided is based on GEM research, which draws on an analysis of the facts, views
and opinions gathered as part of an adult population study of 2,000 people, aged 18 to 64 inclusive,
which was undertaken in mid-year. GEM research is carried out in exactly the same way in each of
over seventy countries and economies participating in the cycle. Across these countries, over 206,000
people responded to the GEM survey. Accordingly, the results can be compared across countries and
Ireland’s relative position ascertained. Appendix 1 outlines in detail the GEM methodology.
In this report, the ?ndings are compared with other developed countries, in particular with those that
were included in the GEM 2014 research cycle from Europe, North America and Asia & Oceania.
The countries included are:
Europe (EU and EFTA): Austria, Belgium, Croatia, Denmark, Estonia, Finland, France, Germany,
Greece, Hungary, Ireland, Italy, Lithuania, Luxembourg, the Netherlands, Norway, Poland, Portugal,
Romania, Slovakia, Slovenia, Spain, Sweden, Switzerland, and the United Kingdom
North America: Canada and the United States
Asia & Oceania: Australia, Japan, Singapore and Taiwan
In respect of all relevant outcomes, comparative international tables have been compiled from the
adult population survey in each of these economies and are available in Section 7. The following
comparative tables may be of interest to the reader in connection with this section:
Rates of Activity
Table A Rates of entrepreneurship
Table B Rates of intrapreneurship
Table C Rates of aspiring entrepreneurs
Table D Business exits: rates and reasons
SECTION 2
ENTREPRENEURSHIP IN IRELAND IN 2014
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2.2 IRELAND’S RATE OF ENTREPRENEURSHIP – THE TEA INDEX
The TEA Index is a measure of early stage entrepreneurial activity, including those that have recently
started a business (new business owners) and those that are actively working on starting a new
business (nascent entrepreneurs).
6
Ireland’s TEA rate in 2014 was 6.5%. That is 6.5% of the adult population, aged between 18 and 64
(inclusive), reported that they were early stage entrepreneurs. The TEA rate declined in 2014 from
the high rate reported in 2013 (9.2%). At 6.5%, the 2014 rate in Ireland is more in line with the rates
recorded in the 2010-2012 period (Table 1).
Ireland is ranked 16
th
in Europe in 2014 in terms of the TEA Index. The rate of early stage entrepreneurial
activity is particularly high in the US (13.8%), Canada (13.0%) and Australia (13.1%), where it is more
than twice the rate reported for Ireland (Figure 1).
6
Section 3: Entrepreneurs in Ireland 2014 contains further detail on new business owners and nascent entrepreneurs.
7
In some instances, this rate is less than the combined totals for nascent and new business owners. This is because, in circumstances
where respondents qualify as both a nascent and a new business owner, they are counted only once in the Total Early Stage
Entrepreneurial Activity (TEA) Index.
8
The horizontal lines illustrate the margin of error. It is shorter in those countries with a larger survey, for example in Spain where 25,000
people were surveyed for the 2014 GEM adult population survey. In Ireland the GEM 2014 survey was of 2,000 people aged between
18 and 64. The margin of error in Ireland is +/- 1.1%.
TABLE 1: ENTREPRENEURSHIP IN IRELAND: 2010-2014
2010 2011 2012 2013 2014
TEA: early stage entrepreneurs
7
6.8% 7.3% 6.1% 9.2% 6.5%
Nascent entrepreneurs 4.4% 4.3% 3.9% 5.5% 4.4%
New business owners 2.6% 3.1% 2.3% 3.8% 2.5%
FIGURE 1: TEA INDEX RANKING
8
Europe North
America
Asia &
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2.3 INTRAPRENEURSHIP - ENTREPRENEURS WITHIN ORGANISATIONS
Not all entrepreneurship is carried out by individuals acting on their own account. Intrapreneurs are
those that initiate new business activities within their current employment. Intrapreneurs have been
involved in the development of new activities for their employer, such as developing or launching new
goods or services, or setting up a business unit, a new establishment or subsidiary.
In Ireland, 6.7% of the adult population report that they have been involved in new activities for their
employer in the past three years. For those currently in employment the rate is higher (11.8%) (Table
2). Focusing on those that report they are currently involved in new activities for their employer, the
rate is 5.6% and 10.0% respectively.
Ireland is ranked 6
th
in the rate of intrapreneurship across Europe (Figure 2). This means that Ireland’s
rank in intrapreneurship is higher than its rank (16
th
)
in the TEA Index.
Countries differ in terms of the combinations of new business owners and intrapreneurs. For example,
Ireland has a similar rate of new business owners as Denmark (2.5%), but Denmark has a much
higher rate of intrapreneurship, (11.4%) compared to Ireland (6.7%). Denmark reports the highest rate
of intrapreneurship in Europe. Compared to the Netherlands and the UK, Ireland has a similar rate of
intrapreneurship, but a lower rate of new business owners (Table 2).
Considering only those in employment, the rate of intrapreneurship in Ireland is higher (11.8%) with
Ireland ranking 2
nd
to Denmark.
9
The horizontal lines illustrate the margin of error. In Ireland, the margin of error is +/- 1.1%.
TABLE 2: NEW BUSINESS OWNERS AND INTRAPRENEURS: SELECTED COUNTRIES
Ireland Denmark Netherlands UK
New business owners 2.5% 2.5% 4.5% 4.5%
Intrapreneurs (% of all adults) 6.7% 11.4% 7.0% 7.0%
Intrapreneurs (% of employed adults only) 11.8% 16.8% 9.4% 11.2%
FIGURE 2: INTRAPRENEURSHIP RANKING
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3.1 INTRODUCTION
GEM describes entrepreneurial activity as a process and measures different phases of this process
from conception through ?rm birth to persistence.
10
This section focuses in particular on nascent entrepreneurs (3.2) and new business owners (3.3), who
together make up total early stage entrepreneurial activity, and looks in some detail at each of these
categories to offer a greater understanding of each. Section 3.4 focuses on new business owners with
signi?cant growth potential.
The socio-demographic characteristics of early stage entrepreneurs are also examined with a
particular emphasis on age, with millennial entrepreneurs under the spotlight (3.5), and on gender,
with a particular focus on female entrepreneurs (3.6).
Established owner managers, those who have owned and managed a business for more than 42
months, represent persistence or survival beyond the TEA period. Details are given of their personal
characteristics and their growth aspirations (3.7).
In respect of all relevant outcomes, comparative international tables have been compiled from the
adult population survey in selected countries and are available in Section 7. The following comparative
tables may be of interest to the reader in connection with this section:
Characteristics of Early Stage Entrepreneurs
Table E Entrepreneurial teams
Table F Work and household income: early stage entrepreneurs
Table G Motives: early stage entrepreneurs
Table H Education level: early stage entrepreneurs
Table I Age: early stage entrepreneurs
Entrepreneurs with Signi?cant Growth Potential
Table J Growth aspirations: early stage entrepreneurs
Table K International orientation: early stage entrepreneurs
Table L Sector of activity: early stage entrepreneurs
Table M Innovativeness: early stage entrepreneurs
Men and Women
Table N Rates of entrepreneurship by gender
Table O Motives by gender: early stage entrepreneurs
Table P Personal context by gender: adult population
Established Owner Managers
Table Q Growth aspirations and international orientation: owner managers
Table R Sector of activity: owner managers
Table S Innovativeness: owner managers
Table T Education level and household Income: owner managers
Table U Age: owner managers
10
See Figure 3 in Appendix 1.
SECTION 3
ENTREPRENEURS IN IRELAND IN 2014
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3.2 NASCENT ENTREPRENEURS
What are nascent entrepreneurs doing?
Nascent entrepreneurs are those actively planning a new venture. These people have done something
during the previous twelve months to help start a new business, that he or she will at least part own.
If relevant, wages or salaries will not have been paid for more than three months in respect of the new
business. In 2014, nascent entrepreneurs in Ireland had spent, on average, 9 months working on the
new business/new business idea. One in four (26%) have been working on their new business for 3
months or less, one in ?ve (18%) for between 3 and 6 months, four in ten (39%) for between six and
twelve months, and nearly one in ?ve (17%) for over one year. Activities such as organising the start-up
team, looking for equipment, saving money for the start-up, or writing a business plan would all be
considered as active commitments to starting a business.
Most nascent entrepreneurs (83%) are in employment, which includes those who are working fulltime
(30%), part-time (10%), or are self-employed or employed in a family business (43%). The remainder
include students, retired, unemployed and home-makers (17%). Nearly a quarter of nascent
entrepreneurs (24%) has prior experience of entrepreneurship and may be considered to be a serial
entrepreneur.
11
About half of all nascent entrepreneurs (53%) expect to be the sole owner of the new business, with
about 47% expecting there to be more than one owner. In 2014 nascent entrepreneurs in Ireland were
focussed on ideas across a broad range of sectors: business orientated services (37%), transformative
sectors (30%), which include construction and manufacturing, consumer orientated services (28%),
and the extractive sector (5%).
How many nascent entrepreneurs are there in Ireland?
In Ireland, 4.4% of adults self-report that they are actively planning a new business. This equates
to about 127,000 people. The rate of nascent entrepreneurs declined in 2014 compared to 2013
and is more or less at the average of the years 2010-2012 inclusive (Table 3). Ireland is ranked 15
th
across Europe in terms of nascent entrepreneurs in the population and the rate in 2014 is close to the
European average (4.6%). The highest rate of nascent entrepreneurs in Europe is in Slovakia (6.7%),
followed by the UK and Estonia (6.3%). The rate of nascent entrepreneurs in the United States (9.7%)
is more than twice the Irish rate.
Personal characteristics of nascent entrepreneurs
The majority of nascent entrepreneurs in Ireland are motivated by positive reasons (77%), in that they
are driven by opportunity, as opposed to because they have no better choices for work. Positive
reasons include taking advantage of a business opportunity or having a job but seeking a better
opportunity. 23% of nascent entrepreneurs are motivated by necessity, in that they report they are
seeking to start a business because they have no better alternative.
The average age of a nascent entrepreneur is 39 years, though there is a wide range, from 19 to 63.
Nearly two-thirds (64%) are aged between 25 and 44. 68% of nascent entrepreneurs are men, while
32% are women. Most nascent entrepreneurs (80%) have a post Leaving Certi?cate quali?cation:
57% have a Degree or higher and 23% have a Diploma or Certi?cate. One in ten (10%) has Leaving
Certi?cate as highest form of education and one in ten (10%) has some secondary (Junior Certi?cate)
or vocational education. Most nascent entrepreneurs are in multiple person households, with 75% in
households of 3 or more, 19% in two-person households, and 6% in one-person households.
11
In that they are or have been an owner manager of a business, established or new, or they have exited a business in the past twelve
months. The business may have either closed or continued.
TABLE 3: NASCENT ENTREPRENEURS IN IRELAND: 2010-2014
2010 2011 2012 2013 2014
Nascent entrepreneurs 4.4% 4.3% 3.9% 5.5% 4.4%
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More details on the growth potential of these new businesses are contained in Section 3.4.
3.3 NEW BUSINESS OWNERS
What are new business owners doing?
New business owners are entrepreneurs who at least part own and manage a new business that
is between 4 and 42 months old and have not paid salaries for longer than this period. These new
ventures are in the ?rst 42 months after the new venture has been set up. Two thirds of all new
business owners (68%) are the sole owner of the new business, with 32% reporting that they are
one of several owners. The average number of new business owners in the founding team is broadly
similar in Ireland (1.5) to the UK (1.6) and across Europe (1.7).
In 2014 new business owners in Ireland were active across a broad range of sectors: business
orientated services (36%), consumer orientated services (30%), transformative sectors (24%) which
include construction and manufacturing, and extractive sectors (10%).
12
How many new business owners in Ireland?
The rate of new business owners in Ireland in 2014 was 2.5% of the adult population. This is
approximately 20,400 people. The number of new businesses started in Ireland in 2014 is less than
this number, as many new businesses have more than one owner. Similar to nascent entrepreneurs,
the rate of new business owners declined in Ireland in 2014 compared to 2013, and is more or less at
the average of the years 2010-2012 inclusive (Table 4).
Ireland is ranked 15
th
across Europe in terms of new business owners in the population and the rate
in 2014 is lower than the European average (3.2%). The rate of new business owners in Europe is
highest in Romania (6.2%), Lithuania (5.3%), followed by the UK and the Netherlands (4.5%). The rate
of new business owners in Ireland is also considerably behind the rate in North America (Canada 5.6%
and the United States 4.3%) and in Asia & Oceania (Australia 5.7%, Singapore 4.8%, and Taiwan
4.1%) with the exception of Japan (1.3%).
Personal characteristics of new business owners
The majority of new business owners in Ireland are motivated by opportunity (61%), in that they are
driven by opportunity, as opposed to ?nding no other option for work. A signi?cant minority, however,
report that they started a new business because they had no better alternative (39%).
The average age of a new business owner is 40 years, though there is a wide range, from 19 to
64. Nearly two-thirds (62%) are aged between 25 and 44. 70% of new business owners are men,
while 30% are women. Three quarters of new business owners (76%) have a post Leaving Certi?cate
quali?cation: 53% has a Degree or higher and 23% has a Diploma or Certi?cate, with 4% having the
Leaving Certi?cate as highest form of education. One in ten (10%) has vocational education and one
in ten (10%) has some secondary (Junior Certi?cate) as their highest education. Most new business
owners are from multiple person households, with 79% in households of three or more, 17% in two
person households, and 4% in one-person households.
TABLE 4: NEW BUSINESS OWNERS IN IRELAND: 2010-2014
2010 2011 2012 2013 2014
New business owners 2.6% 3.1% 2.3% 3.8% 2.5%
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3.4 NEW BUSINESS OWNERS WITH SIGNIFICANT GROWTH POTENTIAL
The potential impact of new businesses can be measured in terms of three factors: the growth
aspirations of the new business owners, the international orientation of the new business and the
degree of innovation.
The majority of new business owners are not currently employers with 64% reporting that they have no
employees. However, three quarters (74%) of all new business owners expect to be employers within
the next ?ve years. Over this period, one in four (26%) expect that they will remain self-employed with
no employees. 16% of all new business owners expects high employment growth, leading to twenty
or more jobs within the next ?ve years (Table 5). 1.5% of new business owners currently have twenty
or more employees.
One third (32.5%) of new business owners have no international customers as they focus exclusively
on the Irish market. While 67.5% of new businesses have international customers, just 27% have more
than a quarter of their customers in overseas markets. New businesses that are highly international
from birth are referred to as ‘born global’. One in eight of new businesses (12.5%) report that 75% of
their sales are in international markets (Table 6). Just about half of all new business owners (51%) are
using the internet to sell their product or service.
The innovativeness of the new businesses can be measured in terms of a range of dimensions: sector,
new products, new markets, and new technologies (Table 7).
Sector: The majority (85%) of these new business owners are operating in low or non-tech sectors.
However, 15% are in medium or high-tech sectors.
13
New products: Nearly one in two (46%) of these business owners have products/services that the
entrepreneur considers are new to all or many customers.
New markets: One in every two new business owners (52%) is in a new market, reporting that they
have few or no competitors.
New technologies: One in every three new business owners (30%) is using new technologies (de?ned
as technology that is less than 5 years old).
TABLE 5: GROWTH ASPIRATIONS: NEW BUSINESS OWNERS
Growth expectations Percentage of
new business owners
Any jobs now or within the next 5 years 74%
More than 10 jobs, and 50% growth in jobs, within the next 5 years 23%
Twenty or more jobs within the next 5 years 16%
TABLE 6: CUSTOMERS IN OVERSEAS MARKETS: NEW BUSINESS OWNERS
Customers in overseas markets Percentage of
new business owners
No customers in overseas markets 32.5%
1% to 24% customers in overseas markets 40.5%
25% to 74% customers in overseas markets 14.5%
75% to 100% customers in overseas markets 12.5%
13
The technology categories are based on OECD de?nitions. The rate of new business owners operating in medium to high-tech sectors
is higher (15%) than the rate that early stage entrepreneurs are operating in these sectors (9%).
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Combining these measures provides a ‘Market Expansion’ Index. This highlights how a very small
number of new businesses are entering new markets with new products based on new technology
(5%) and how most new businesses (59%) are pursuing opportunities based on existing products/
services, existing markets and existing technologies (Table 8).
TABLE 7: INNOVATIVENESS: NEW BUSINESSES
Innovativeness Percentage of
new business owners
Novelty of product/service
Product/service is new to no customers 54%
Product/service is new to some customers 28%
Product/service is new to all customers 18%
Extent of competition (newness of market)
Many businesses offer the same product/service to potential customers 48%
Few businesses offer the same product/service to potential customers 46%
No business offers the same product/service to potential customers 6%
Technology
Business uses technology that is 5+ years old 70%
Business uses technology that is between 1 to 5 years 25%
Business uses technology less than 1 year old 5%
TABLE 8: MARKET EXPANSION INDEX: NEW BUSINESS OWNERS
Market expansion index Percentage of
new business owners
No market expansion 59%
Some market expansion but no new technologies 36%
Some market expansion and new technologies 4%
Profound (market expansion and the latest technology) 1%
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3.5 MILLENNIALS – YOUNG ENTREPRENEURS
This section explores the entrepreneurial attitudes and activity of millennials, those born between 1980
and 1996 (so aged between 18 and 34 in 2014), contrasting them with those aged between 35 and
50, and those aged 50 to 64. In summary, more millennials see opportunities to start a business and
millennials have a higher aspiration to start a business. However, there are no differences in levels of
new business owners among millennials relative to the other age groups.
Aspirations and activity
One in eleven (9.5%) millennials, that are not currently active as entrepreneurs, aspire to start a
business in the next 3 years. This compares to about one in fourteen for those aged 35 to 50 (6.9%),
and to one in twenty six for those aged 50 to 64 (3.8%) (Table 9).
While millennials have a higher aspiration to start a new business in the next three years, they are
not more active as new business owners and are much less likely to be the owner manager of an
established business, a business that is more than 42 months old.
Attitudes and perceptions
Compared to the other age groups, more millennials believe that successful entrepreneurs have a
high status (82%) and that entrepreneurship is a good career choice (52%) (Table 10). One in ?ve has
received some entrepreneurial education while at school (22%).
The higher aspiration to start a business may be related to more millennials perceiving opportunities to
start a new business (37%) and to knowing a recent entrepreneur (42%). They report the highest rate
of fear of failure (46%), however, across all the age groups.
Those in the oldest age group, 50-64 years, have the highest rate of perception of good media
coverage for entrepreneurs (80%), are the least inhibited through fear of failure from starting a business
(35%) but report the lowest rate of perceiving entrepreneurial opportunities (29%).
TABLE 10: CULTURE, PERSONAL CONTEXT AND ENTREPRENEURSHIP TRAINING: MILLENNIALS
Perceptions and experiences Aged 18-34 Aged 35-50 Aged 50-64
of the populatuion (millennials)
Success at entrepreneurship has high status 82% 71% 77%
Entrepreneurship is a good career choice 52% 47% 49%
Supportive media coverage of entrepreneurs 75% 73% 80%
Opportunities to start a business 37% 33% 29%
Know a recent entrepreneur 42% 37% 27%
Skills and knowledge to start a business 44% 52% 46%
Fear of failure would prevent starting a business 46% 44% 35%
Participated in training on starting a business at primary or secondary school 22% 12% 10%
Participated in training on starting a business after completing school 17% 22% 23%
TABLE 9: ENTREPRENEURIAL ASPIRATIONS AND ACTIVITIES: MILLENNIALS
Aged 18-34 Aged 35-50 Aged 50-64
(millennials)
Aspire to start a new business
#
9.5% 6.9% 3.8%
Total early stage entrepreneurs 7.5% 6.3% 5.1%
Nascent entrepreneurs 5.4% 3.6% 3.6%
New business owners 2.4% 2.8% 2.3%
Owner managers of established businesses 2.3% 15.5% 14.8%
#
excluding those currently active as entrepreneurs
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3.6 FEMALE ENTREPRENEURS
The relative untapped entrepreneurial potential of women has been recognised for many years at
national level and a range of measures have been introduced to encourage more entrepreneurial
activity among women.
Entrepreneurial activity by women
In Ireland the rate at which both men and women were involved in early stage entrepreneurial activity
rose sharply in 2013. The levels reported in 2014 show a return to the levels observed in the years
2010 to 2012 inclusive (Table 11). As the rate of entrepreneurship by men and by women declined in
2014, the rate at which men compared to women were involved as early stage entrepreneurs (2.1:1),
is similar to that observed in 2012.
The proportion of women involved as new business owners is particularly low in 2014 (1.4%), while
the rate of women as nascent entrepreneurs showed less of a steep decline.
There has always been a relatively high rate of owner mangers of established businesses in the
population in Ireland. This rate increased in 2014 in respect of both men and women (Table 11).
Necessity as a motivation for early stage entrepreneurial activity is relatively high in Ireland (30%). It
is lower among male entrepreneurs (26%) than it is for female entrepreneurs (39%). Necessity as a
motivation is considerably higher for females in Ireland compared to the average across Europe for
female entrepreneurs (26%).
Not all businesses whether new or established will be successful. Each year a certain rate of early
stage entrepreneurs and established owner managers will close a business. As in previous years, a
higher proportion of male compared to female entrepreneurs discontinued and exited a business in
2014 (2.0% compared to 0.3%).
Personal context
Potential entrepreneurs are found among both men and women in the general population. They may
never act on their entrepreneurial potential but they have certain aspects in their personal context
which makes them more likely to be future entrepreneurs than others in the population. They tend
TABLE 11: ENTREPRENEURSHIP BY GENDER: 2010-2014
2010 2011 2012 2013 2014
TEA: early stage entrepreneurs
Men 9.5% 10.3% 8.3% 12.1% 8.9%
Women 3.9% 4.2% 4.0% 6.4% 4.2%
Ratio Men: Women 2.4:1 2.5:1 2.1:1 1.9:1 2.1:1
Nascent entrepreneurs
Men 6.2% 5.9% 5.6% 8.0% 5.9%
Women 2.5% 2.6% 2.5% 3.2% 2.8%
Ratio Men: Women 2.5:1 2.3:1 2.2:1 2.5:1 2.1:1
New business owners
Men 3.6% 4.6% 2.8% 4.5% 3.5%
Women 1.5% 1.6% 1.8% 3.2% 1.4%
Ratio Men: Women 2.5:1 2.8:1 1.6:1 1.4:1 2.4:1
Owner managers of established businesses
Men 11.8% 10.9% 11.8% 11.4% 13.8%
Women 5.2% 5.0% 4.7% 3.6% 6.1%
Ratio Men: Women 2.3:1 2.2:1 2.5:1 3.2:1 2.3:1
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to know recent entrepreneurs, are alert to enterprising opportunities in their environment, believe
that they have the knowledge and skills to start and successfully run a new business and are less
susceptible to being deterred by fear of failure.
In respect of each of these factors men in Ireland report more favourable rates than do women. This is
not unique to Ireland, as it is to be observed in virtually every country. In respect of knowing a recent
entrepreneur, not only do men in Ireland report higher rates than do women (43% compared to 29%),
their rate is higher than the European average (36%) while that for women is at the European average
(29%). It is also higher than the rates for men reported across North America and Asia & Oceania.
The observation of enterprising opportunities declined for both men and women considerably during
the recession. This is slowly improving. In 2014, men in Ireland are reporting that they perceived
such opportunities (38%) at more or less the average rate observed across Europe (39%). This is
considerably behind the rate observed in Canada (57%), the US (53%) and Australia (50%). The rate at
which women in Ireland perceive enterprising opportunities (29%) is still behind the European average
(34%).
Even in those countries which have a much narrower ratio in the rates of male and female early stage
entrepreneurs, women in the general population report lower levels of con?dence in their perception
of having the skills and knowledge to start a business. Ireland is no exception – 58% of men in the
general adult population perceive that they have the necessary skills compared to 37% of women.
Both rates are higher, however, than the respective European averages (50% and 33%).
Fear of failure as a deterrent to starting a business is present to some extent in every country, even
among those with relatively high rates of early stage entrepreneurs. In general it is more evident among
women than it is among men. In Ireland 37% of men and 48% of women report that fear of failure
would act as a deterrent to engaging in entrepreneurship. These rates are lower, however, than the
European averages (41% and 51%).
The entrepreneurial intentions of women
As previously noted, the rate at which people in Ireland state an aspiration to become an entrepreneur
in the coming three years is low (7.2%) relative to the average across Europe (11.6%) and North
America (12.0%).
14
The rate, at which women in the general adult population are reporting a clear aspiration to become
an entrepreneur in the coming three years, while having fallen back from the level observed in 2013, is
at a relatively high level in Ireland (5.5%), compared to previous years. The rate, expressed as a ratio
between men and women, is relatively narrow (Table 12).
Sectoral focus
A much higher proportion of employed women (90%) compared to employed men (63%) in Ireland
are engaged in the services sector.
15
Accordingly it is not surprising that the majority of female early
stage entrepreneurs are focused on the services orientated sectors (73%) with relatively few engaged
in the transformative sector, which includes manufacturing and construction, or the extractive sector
(e.g. mining). Almost one third of early stage male entrepreneurs are engaged in the transformative
sector (Table 13).
TABLE 12: ASPIRING TO START A BUSINESS BY GENDER
Aspire to start a business Percentage of adults (excluding
within the next 3 years those already active as entrepreneurs)
Men 9.0%
Women 5.5%
Ratio Men: Women 1.6:1
14
The rates exclude those currently active as an entrepreneur. The rate across Asia & Oceania is higher than it is in Ireland in Australia
(10%), Singapore (9.4%), and Taiwan (25.6%). The rate in Japan is lower (2.5%).
15
CSO QNHS Q1 2015.
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Almost one in every two early stage female entrepreneurs is focused on consumer orientated services
(48%). This sector is of far less importance to male entrepreneurs (21%) for whom business orientated
services is the dominant sector (39%). More generally, the rate of early stage entrepreneurs involved
in consumer oriented services in Ireland (30%) is substantially below the European average (40%).
If one considers early stage entrepreneurs in Ireland as a group, a third are focused on business
orientated services (34%) which is just ahead of the European average (30%).
Growth aspirations
Policy makers in Ireland note that targeted actions have shown positive change in that there has been
a narrowing of the rates at which men and women are starting new businesses. The National Policy
Statement on Entrepreneurship in Ireland points to the next challenge. “The focus now must be to help
these young companies to realise their full potential to achieve signi?cant scale and become major
international businesses in markets across the globe.”
16
It has been observed for many years now that more male than female early stage entrepreneurs
expect to become an employer and have signi?cant growth aspirations for their new business. This is
also the case in 2014.
While the majority of both male and female entrepreneurs expect to become employers within the next
?ve years, there is a considerable difference in the rate between male and female entrepreneurs in this
regard (74% compared with 62%) (Table 14).
There is an even greater difference in the rate at which male and female entrepreneurs aspire to
achieve signi?cant growth, with almost one in three (32%) male entrepreneurs expecting to employ at
least ten within ?ve years, compared to one in six female entrepreneurs (17%). The gap widens further
as the growth aspiration increases.
16
September 2014, page 21.
TABLE 14: GROWTH ASPIRATIONS BY GENDER: EARLY STAGE ENTREPRENEURS
Growth expectations MEN WOMEN
early stage early stage
entrepreneurs entrepreneurs
Any jobs now or within the next 5 years 74% 62%
More than 10 jobs, and 50% growth in jobs, within the next 5 years 32% 17%
Twenty or more jobs within the next 5 years 16% 5%
TABLE 13: SECTOR OF ACTIVITY BY GENDER: EARLY STAGE ENTREPRENEURS
Sector of activity MEN WOMEN
early stage early stage
entrepreneurs entrepreneurs
Extractive 8% 7%
Transforming 32% 21%
Business Orientated Services 39% 25%
Consumer Orientated Services 21% 48%
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International orientation
Similar to the trend observed in 2013,
17
more than half of female early stage entrepreneurs are focused
entirely on the Irish market and have no customers in overseas markets (52%). In contrast just one
third of male entrepreneurs report that they have no export customers (33%) (Table 15).
The rate of businesses born global, that is having 75% or more of their customers in overseas markets,
has always been relatively small for both male and female entrepreneurs. 2014 is no exception, with
14% of male entrepreneurs and 2% of female entrepreneurs in this category.
Education and training
Male and female early stage entrepreneurs are highly educated, with 78% of all early stage entrepreneurs
having some level of post-secondary school education. Slightly lower rates of male compared to
female entrepreneurs have post-secondary education (77% compared to 81%). Within this group,
however, a higher percent of male compared to female entrepreneurs have graduate education (15%
compared to 9%) (Table 16).
In the general population, an equal proportion of men and women have taken part in entrepreneurial
training during their primary and secondary schooling (15%), while more men than women have
participated in such training after they ?nished school (24% compared to 17%).
TABLE 15: CUSTOMERS IN OVERSEAS MARKETS BY GENDER: EARLY STAGE ENTREPRENEURS
Customers in overseas markets MEN WOMEN
early stage early stage
entrepreneurs entrepreneurs
No customers in overseas markets 33% 52%
1% to 24% customers in overseas markets 40% 29%
25% to 74% customers in overseas markets 13% 17%
75% to 100% customers in overseas markets 14% 2%
TABLE 16: HIGHEST EDUCATION ATTAINMENT LEVEL BY GENDER: EARLY STAGE ENTREPRENEURS
Highest education attainment MEN WOMEN
early stage early stage
entrepreneurs entrepreneurs
Primary and/or some secondary 8% 5%
Secondary school 15% 14%
Post-secondary 62% 72%
Graduate education 15% 9%
17
In 2013, GEM reported that 58% of female early stage entrepreneurs in Ireland had no customers in overseas markets compared to
32% for male entrepreneurs.
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3.7 OWNER MANAGERS OF ESTABLISHED BUSINESSES
Established owner managers are those who have owned and managed a business that is more
than 42 months old. In 2014, the rate of owner managers in Ireland (9.9%) is high compared to the
average across Europe (6.7%).
18
Ireland is ranked 2
nd
in Europe with Austria. The Netherlands (9.6%)
and Switzerland (9.1%) also have broadly similar rates to Ireland. The country with the highest rate of
established owner managers in Europe is Greece (12.8%).
In North America, Canada (9.4%) has a broadly similar rate of established own managers to Ireland,
while the rate in the United States is lower (6.9%). In Asia & Oceania, the rate of owner managers in
Taiwan (12.2%) is very high, while Australia has a similar rate to Ireland (9.9%).
19
Two thirds of owner managers are aged between 35 and 54, with a quarter aged between 55 and
64. There are very few in the younger age groups.
20
Owner managers in Ireland have a range of
educational attainment levels from those with just some secondary education (9.9% of adults in this
attainment level category), to those who have completed secondary school (8.9%), to those with
post-secondary education (11%). The rate of owner managers of established businesses among
graduates is lower in Ireland (7.3%), than it is across Europe (9%).
Across Europe, the rate of established owner managers is broadly similar to Ireland in Austria,
Switzerland and the Netherlands. In Austria and Switzerland, however, a higher rate of graduates are
established owner managers (12.9% and 16.2%).
21
This is also the case in Canada and Australia,
which were observed to have a broadly similar rate of owner managers of established businesses as
Ireland. The rate of owner managers among graduates is higher (12.4% and 14% respectively) than
it is in Ireland.
Owner managers of established business in Ireland are engaged in a board range of sectors -
extractives sectors (27%), transformative sectors (29%), business orientated service sectors (26%)
and consumer orientated sectors (18%). The rate of owner managers engaged in the transformative
sector and businesses orientated services sectors is at the European average. The rate of those
engaged in extractive sectors is higher in Ireland than the European average (14%), while the rate
engaged in consumer orientated services in Ireland is below the European average (30%).
Just 2% of owner managers of established businesses expect to create ten or more jobs within the
next ?ve years.
More than half of owner managers (59%) have some customers in international markets and 20%
have a quarter or more of their customers outside the country. The rate of international businesses,
that is having 75% or more of their customers in overseas markets, is small with just 9% of owner
managers in this category.
Sector: The majority (93%) of owner managers of established businesses are operating in low or
non-tech sectors.
22
7% of owner managers report that they are operating in medium or high-tech
sectors.
23
New products: 17% of these owner managers have products/services that are new to all or many
customers.
New markets: One in every three owner managers (32%) is in a new market, reporting that they have
few or no competitors.
New technologies: 13% of owner managers are using new technologies (de?ned as technology that
is less than 5 years old.).
18
The rates in previous years were 7.5% (2013), 8.3% (2012), 8.0% (2011) and 8.6% (2010).
19
The rate in Singapore is particularly low (2.9%). While the rate in Japan is high (7.2%), given the relatively low TEA rates in that country
over many years.
20
Of owner managers 3% are aged 18-24, 6% are aged 25-34, 34% are aged 35-44, 33% are aged 45-54 and 23% are aged 55-64.
21
Comparable ?gures are not available for the Netherlands.
22
The technology categories are based on OECD de?nitions.
23
This compares with 9% for early stage entrepreneurs and 15% for new business owners.
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Combining measures of innovation to provide a ‘Market Expansion’ Index highlights that new business
owners are more innovative than owner managers of established businesses. Eight in every ten
(82%) owner managers report that their businesses are based on existing products/services, existing
markets and existing technologies, compared to 59% of new business owners (Table 17).
TABLE 17: MARKET EXPANSION INDEX: OWNER MANAGERS AND NEW BUSINESS OWNERS
Market expansion index Owner managers New
of established business
businesses owners
No market expansion 82% 59%
Some market expansion but no new technologies 16% 36%
Some market expansion and new technologies 1% 4%
Profound (market expansion and the latest technology) 1% 1%
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SECTION 4
IRELAND’S ENTREPRENEURIAL ECO-SYSTEM
4.1 THE POLICY CONTEXT
According to Richard Bruton, TD, Minister for Jobs, Enterprise and Innovation, “We know that it is
individuals and not government that establish new businesses, but what Government can do is remove
barriers and support an environment where more businesses can start and growth.”
24
Accordingly, the
Government is committed to building an eco-system, which is supportive of entrepreneurial activity.
In each country, as part of the research cycle, GEM national teams capture the informed judgments
of key informants
25
regarding the entrepreneurship eco-system in their country. Members of the
population through the adult population survey are also asked for their opinion in respect of various
aspects of the eco-system, particularly around culture and societal support. The adult population
survey also identi?es the rate of informal investors within the general population and their level of
investment. Aspects of the eco-system studied in GEM are as follows:
i. Finance: ?nancial environment related to entrepreneurship
ii. Government policies
iii. Government programmes
iv. Education and Training
a) Level of entrepreneurial education at primary and secondary school
b) Level of entrepreneurial education at vocational, professional, college and university
v. R&D transfer
vi. Professional and commercial infrastructure
vii. Markets
a) Internal market dynamics
b) Internal market burdens
viii. Physical infrastructures and services
ix. Cultural, social norms and society support.
From these insights aspects of the entrepreneurship eco-system can be identi?ed in which Ireland has
a perceived strength in terms of fostering entrepreneurship, and aspects that constrain entrepreneurial
activity. This section gives insights into the key strengths and constraints identi?ed in the eco-system
in Ireland in 2014. Some aspects of the eco-system, such as government policies and education and
training, are considered both a strength and a weakness, as some aspects of each are perceived as
fostering entrepreneurial activity and some constraining.
In respect of all relevant outcomes, comparative international tables have been compiled from the
adult population survey in selected countries and are available in Section 7. The following comparative
tables may be of interest to the reader in connection with this section:
Attitudes and Perceptions in the Adult Population
Table V ‘Culture’ perceptions: adult population
Table W Personal context: adult population
Informal Investment Activity
Table X Informal investors: rates and amounts
24
Writing in the Foreword of the GEM 2013 Report for Ireland, June 2014.
25
There are 40 experts and entrepreneurs on the 2014 Irish GEM key informant panel. 58% of these are entrepreneurs. The others are
experts drawn from across academia and from the public and private sectors. All are well informed in the area and have considerable
experience in dealing with entrepreneurs and their new ventures and the eco-system that impacts on them.
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4.2 STRENGTHS IN THE ECO-SYSTEM
26
Cultural, social norms and societal support
Many countries and regions talk of the desirability of having an entrepreneurial culture - an environment
where entrepreneurship is respected and fostered. Where this is not present in a country, it is always
challenging for the Government and policy makers to foster it.
Ireland’s standing in terms of a generally supportive culture and social norms has always been reported
by GEM as being relatively high and this continues in 2014. Looking at the trend over time, the status
of entrepreneurs has always been high and the perception of positive stories in the media is once
again on the rise after falling during the recession.
The GEM survey gives good insights into Ireland‘s relative strengths in this area. The status of
successful entrepreneurs in Ireland is high. 77% of the population report that successful entrepreneurs
are well regarded. This is the third highest in Europe, after Finland (84%) and Germany (79%). In the
US the rate is 77%. There is good media coverage of entrepreneurs. The majority of the population in
Ireland (76%) report that they regularly see positive stories about entrepreneurs in the media. This rate
is the highest across Europe and is the same as that in the US. In Finland, the rate is also high 67%,
but in Germany it is just 51%.
Government policies
Most of the experts and entrepreneurs believed that the support for new and growing ?rms is a high
priority for Government
27
and this area was most frequently cited in a positive manner by the key
informant panel.
28
In response to an open question, mention is made in particular of the spotlight
on entrepreneurship that was signi?ed by the Government’s publication of the National Policy
Statement on Entrepreneurship in Ireland in September 2014 and by the earlier establishment of the
Entrepreneurship Forum, chaired by an entrepreneur, whose ?ndings and recommendations informed
the Government’s entrepreneurship strategy, as outlined in the policy statement. The Action Plan
for Jobs 2014 published by the Government included a spotlight on entrepreneurship as one of
three disruptive reforms that were introduced. The Government’s focus on underrepresented groups,
particularly women and youth, is also singled out for positive comment by those consulted.
Government programmes
Among the experts and entrepreneurs consulted, just over half indicated that they considered there
is an adequate number of Government programmes for new and growing businesses.
29
Of those that
considered there were an adequate number of Government supported programmes, 68% thought
that they were effective.
From their commentary to open questions, it is evident that Enterprise Ireland and the Local Enterprise
Of?ces are perceived to be supportive of the efforts of entrepreneurs. Their training programmes
aimed at early stage entrepreneurs are mentioned by name - the New Frontiers programme, Enterprise
Ireland’s national entrepreneur development programme for innovative, early-stage start-ups,
30
and
The Start Your Own Business programme run by the Local Enterprise Of?ces.
31
The programmes
run by the National Digital Research Centre (NDRC) are also mentioned, as is the Going for Growth
initiative, which is designed to support ambitious female entrepreneurs to reach their growth goals.
32
Of the experts and entrepreneurs consulted, two thirds considered that business incubators were providing
effective support for new and growing ?rms. Less positively, only 32% considered that a wide range of
government assistance for new and growing ?rms could be obtained through contact with a single agency.
26
In most economies participating in the 2014 GEM survey, the factors most positively commented upon are physical infrastructure and
commercial infrastructure.
27
Those returning a score of 4 or over out of 5, with 5 being the most positive, to this question.
28
The open question ascertained their views in respect of the factors which fostered entrepreneurial activity in Ireland.
29
54% of respondents returned a score of 4 or over out of 5.
30
New Frontiers is a three-phased programme, based in 14 campus incubation centres across the country.
31
The Start You Own Business programme is run by the LEOs at county level. The programme is aimed at those who have recently set up their
own business or those who are considering self-employment for the ?rst time. The course aims to take participants through everything they
need to know to get started and to prepare early stage entrepreneurs for the challenges they will face in the ?rst year in business.
32
Going for Growth receives support from the Department of Justice and Equality, the European Social Fund, Enterprise Ireland as well as
from KPMG and other corporate supporters.
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In most economies participating in the 2014 GEM survey, key informants consulted gave the lowest evaluation to primary and secondary
education, government policies toward regulation and access to ?nance.
34
The comparable rates in recent years are 46% (2011), 45% (2012) and 43% (2013).
35
The rate was 28% in 2013, and 26% in both 2012 and 2011.
4.3 CONSTRAINTS IN THE ECO-SYSTEM
33
Self-con?dence, aspirations to entrepreneurship and fear of failure
Many people in the general population have the potential to become entrepreneurs. Certain aspects
of an individual’s personal context may make them more likely than others to choose to become an
entrepreneur. These include factors such as self-belief that they have the knowledge and skills to start
and successfully run a new business and knowing an entrepreneurial role model.
Almost half of the population in Ireland perceives that they have the knowledge and skills to successful
start a business (47%). This rate does not vary signi?cantly year on year.
34
This is higher than the
European average (42%) and is similar to Canada (49%) and Australia (46%). More con?dence is
expressed across the adult population in the United States (53%). However, high rates of entrepreneurial
activity occur in countries with much lower levels of expressed self-con?dence in entrepreneurial
knowledge and skills. For example, Singapore and Taiwan have high rates of early stage entrepreneurial
activity (11.0% and 8.5% respectively), simultaneously with low levels of self-belief (21% and 29%
respectively).
Furthermore, among the general population in Ireland more than one in three knows another individual
who started a business in the recent past (36%). In this measure, Ireland is just ahead of the European
average (33%) and placed joint 7
th
across Europe. The highest rates in Europe are observed in Finland
and Slovakia (43%) followed by Estonia (42%).
Among the general population in Ireland, there are more than 200,000 individuals, who are not
currently active as entrepreneurs, who report that they aspire to start a new business during the
next three years (7.2%). While this is a high absolute number, Ireland ranks just 19
th
of 25 European
countries in this respect.
Fear of failure as a deterrent to becoming active as an entrepreneur is evident even in the most
entrepreneurial countries. In Ireland 42% of the general population express such a sentiment.
This is below the European average (46%). In some countries with much high levels of early stage
entrepreneurial activity than Ireland, a relatively similar preponderance of fear of failure is reported
among the general population as it is in Ireland- Canada (39%), Australia (44%) and Taiwan (40%).
Even in those countries with the lowest rates expressing this inhibition, the United States and Norway,
one in three reports that fear of failure might deter them from becoming involved in a start-up.
Opportunities and motivation
Among the general population, one in three adults (33%) perceives that there are good opportunities
to start a business. This rate has increased in 2014,
35
but is still a long way from that observed in
2007 (46%). Despite the recent improvement in the rate of opportunity recognition, it is not high in a
European context, with Ireland ranking 13
th
of the 25 European countries. In Denmark (60%), Norway
(63%) and Sweden (70%) the rate is very much higher. In the US the rate is 51%.
When asked if entrepreneurship is a good career choice, about half of Irish people respond positively
(49%). This is low in a European context (Ireland is 18
th
of 23 European countries). Finland, at 41%,
and Germany at 52%, are also relatively low on this measure. In the US, where status of successful
entrepreneurs and media attention are similar to that in Ireland, there is a much higher percentage
of people who consider entrepreneurship as a desirable career choice (65%), compared to Ireland.
Looking at the trend over time the perception of entrepreneurship as a good career choice has not yet
recovered in Ireland to the very high levels reported in 2006 (70%) and earlier years.
A relatively high number of early stage entrepreneurs in Ireland (30%) report that they are motivated by
necessity - that is they perceive no better alternative for employment.
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Access and availability of ?nance
In response to an open question to ascertain their views as to constraining factors in the entrepreneurial
eco-system, three quarters of experts and entrepreneurs consulted in Ireland considered that the
prevailing ?nancial environment constrained entrepreneurial activity and two thirds of those surveyed
made a recommendation for improvements that could be made in this area.
36
Irish key informants
were particularly negative in terms of their view that there was not suf?cient debt funding available for
new and growing ?rms.
37
Most entrepreneurs use their own funds when starting a new business. The second most important
source of ?nance is so-called informal investment. Informal investors are not just high net-worth
investors (often referred to as Business Angels), but also include investments or funds provided to
individuals, involved in starting a business, by family, friends, and work colleagues.
As in previous years, the majority of informal investment of this nature is made to an individual who
is already known to the person providing the investment. In 2014 in Ireland, informal investors report
that their most recent investment is to a family member or relative (38%), a friend or neighbour (28%),
a stranger with a good business idea (18%), a current or past work colleague (14%), or some other
individual (2%). The experts and entrepreneurs consulted consider that there is not suf?cient funding
of this type available from private individuals for new and growing business.
38
In Ireland, 3.4% of the population have provided funds for another individual starting a business in the
past three years. The rate has remained fairly steady in Ireland in recent years. This rate is lower than
the European average (4.3%), with Ireland ranking joint 16
th
of the European countries in this respect.
The rate in the US, at 6.2%, is 1.8 times higher. As in previous years, in 2014 men in Ireland are much
more likely to be informal investors (4.6%) than are women (2.6%).
The average amount of funds Informal Investors provided to start-ups in the past 3 years is relatively
high, €40,500, when compared to the European average of €30,900 and the average in the US
(€37,200).
In response to the question as to whether there is suf?cient government subsidies available to new
and growing ?rms, a small majority of experts and entrepreneurs (53%) consulted consider this to be
the case.
39
Government policies
While the Government’s focus on entrepreneurial activity is recognised as a strength in the eco-system
in Ireland, in response to open questions in this area the key informants say that they perceive certain
policy aspects to be constraining, in particular mention is made of public procurement, compliance
issues, the tax burden on the self-employment and the lack of any safety net should the business
fail. More than three quarters of the experts and entrepreneurs consulted consider that dealing
with government bureaucracy, regulations and licensing requirements is unduly dif?cult for new and
growing ?rms.
Education and training
Irish early stage entrepreneurs have a very high level of general education, with 78% reporting that
they have some post-secondary education. This is the highest level across the 25 European countries.
In general experts and entrepreneurs consulted are not particularly complementary, however, about
the level of entrepreneurial education delivered through the formal education system. Of the nine
framework conditions commented on by experts and entrepreneurs in Ireland, entrepreneurial
education at primary and secondary level was rated as the most weak.
40
However, this was also the
case in over half of the European countries. In the US, the experts and entrepreneurs consulted were
36
In general the experts and entrepreneurs consulted across Europe were very negative in respect of access and availability of ?nance for
new and growing businesses.
37
Less than 10% gave a positive score (4 or 5), where 5 is the most positive score.
38
32% of respondents returned a score of 4 or higher.
39
53% of respondents gave a score of 4 or higher.
40
Just 12% of respondents gave a score of 4 or higher.
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19% of respondents gave a score of 4 or higher.
equally of the view that teaching in primary and secondary level does not provide adequate attention
to entrepreneurship and new ?rm creation. The experts and entrepreneurs consulted in Ireland were
slightly more positive in their perception that students in post-secondary education, whether in the
vocational, professional, college or university systems, were receiving good and adequate preparation
for starting and growing new ?rms.
41
16% of the population in Ireland report that they have participated in training on starting a business
at primary or secondary school. 20% report that they participated in training on starting a business
since leaving school. Of those that are early stage entrepreneurs 22% report they had some training
in school, while 44% report that they participated in training on starting a business having completed
school (Table 18).
The TEA rate for those that participated in training in school is 9.1%, compared to 6.1% for those that
had not participated in training in school.
TABLE 18: PARTICIPATION IN TRAINING ON STARTING A BUSINESS
Participated in training on Adult Early stage
starting a business population entrepreneurs
At primary or secondary school 16% 22%
After completing school 20% 44%
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4.4 ENTREPRENEURSHIP IN DUBLIN AND THE REST OF IRELAND
Spotlight on Dublin and the regions
In the month of September 2014 the ?rst Dublin Commissioner for Start-ups was appointed
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and the
National Policy Statement on Entrepreneurship in Ireland was published which contained a focus on
the regions.
The appointment of the Dublin Commissioner for Start-ups was a private sector initiative. The new
Commissioner is working in conjunction with Dublin City Council, Enterprise Ireland and the Local
Enterprise Of?ces. A key responsibility of the role is to develop international recognition of Dublin as
an innovation hub, where companies will start-up, scale faster and create long-term sustainable jobs
and added value to the economy. The objective is to make Dublin the best place in Europe to start and
grow a tech and innovative business.
The Government has committed itself to realise the potential of all of the regions in Ireland for
economic growth and employment creation. To this end, the 2015 Action Plan for Jobs places an
emphasis on developing the jobs potential of the regions. It includes a commitment to develop a
suite of Regional Action Plans for Jobs to support enterprise growth and jobs creation in the regions.
Like the national action plan, the regional APJs will set out a series of commitments on the part of
enterprise development agencies and public bodies, complemented by some actions from the private
sector, which will build on the strengths of each region, to support enterprise growth and job creation.
Further actions will be added on an ongoing basis, as new initiatives and commitments emerge,
re?ecting the dynamic nature of the new regional Action Plans.
The National Policy Statement stated that promoting entrepreneurship at local level was a key
objective and emphasised the role of the recently formed Local Enterprise Of?ces in this regard. In the
Action Plan for Jobs 2015, a focus on the regions was continued - “Delivering Regional Potential: ....
with funds being ear-marked to promote innovative collaborations to support entrepreneurship and
innovation in the regions, exploiting regional competitive advantage”.
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To support regional enterprise development, the Government will provide up to €250 million over ?ve
years to support the implementation of the locally developed Regional Action Plans. This includes
the roll out of a ?ve year, €150 million property investment programme by IDA Ireland over the next
?ve years. A further sum of up to €100 million will be made available through Enterprise Ireland and
the Local Enterprise Of?ces over the next ?ve years, for three separate competitive calls for proposals
which will support innovative and collaborative approaches to support job creation across the regions
Entrepreneurship in Dublin and the rest of Ireland
In Dublin, much more people see opportunities for new businesses. However this is not associated
with higher aspirations to start a new business. It is also not the consequence of a more positive
entrepreneurial culture in Dublin, as people in Dublin have similar attitudes to entrepreneurs
44
(Table 19). The higher perception of opportunity in Dublin is also not associated with higher levels of
entrepreneurial activity. This is also the case for men and women in Dublin, compared to the rest of
Ireland.
There is a difference between Dublin and the rest of Ireland, however, in terms of the number of
established owner managers. There are fewer owner managers in Dublin, compared to the rest of
Ireland. The rate in Dublin (5.3%) is less than half of that in the rest of Ireland, 11.8% (Table 20).
42
Serial entrepreneur, Niamh Bushnell, was appointed as the ?rst Dublin Commissioner for Start-ups, a position which was funded privately
though the Dublin City University Ryan Academy for Entrepreneurs.
43
Action Plan for Jobs 2015, page 11.
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In terms of perceptions of high status of successful entrepreneurs, whether entrepreneurship is a good career choice, and positive media
coverage of entrepreneurs.
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TABLE 19: CULTURE, PERSONAL CONTEXT AND ASPIRATIONS: DUBLIN AND THE REST OF IRELAND
Perceptions of the population Dublin Rest of
(City & County) Ireland
Success at entrepreneurship has high status 76% 77%
Entrepreneurship is a good career choice 51% 49%
Supportive media coverage of entrepreneurs 76% 75%
Opportunities to start a business 45% 29%
Know a recent entrepreneur 37% 35%
Skills and knowledge to start a business 46% 48%
Fear of failure would prevent starting a business 42% 43%
Aspiring to start a business within the next 3 years
#
6.9% 7.3%
# excluding those currently active as entrepreneurs
TABLE 20: ENTREPRENEURIAL ACTIVITY: DUBLIN AND THE REST OF IRELAND
Dublin Rest of
(City & County) Ireland
TEA: early stage entrepreneurs 6.7% 6.5%
Nascent entrepreneurs 4.8% 4.2%
New business owners 2.2% 2.5%
Owner managers of established business 5.3% 11.8%
Early stage entrepreneurs: Men 9.8% 8.5%
Early stage entrepreneurs: Women 3.7% 4.4%
Informal investors 3.9% 3.1%
Eco-system in Dublin and the regions
When consulted about the physical and service infrastructure, the panel of experts and entrepreneurs
consulted in Ireland were generally positive in respect of this aspect of the entrepreneurial eco-system.
It would appear, however, that Ireland has no comparative advantage with regard to this factor, as the
key informants in 22 of the 25 European countries had an equally high opinion about the physical and
services infrastructure in their country.
One in four of those consulted in Ireland, however, were of the opinion that this aspect of the eco-system
was constraining entrepreneurial activity. Mentioned speci?cally in this connection were factors that
particularly constrain entrepreneurial activity outside of Dublin: the lack of widespread broadband
access, poor infrastructure in rural areas and a perception that airline travel is centred on Dublin.
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SECTION 5
INSIGHTS FROM OTHER COUNTRIES
5.1 POLICY PRIORITIES
The stated ambition of the Taoiseach and the Government is that Ireland will be among the most
entrepreneurial nations in the world and acknowledged as a world class environment in which to
start and grow a business.
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To achieve this aim the Minister for Jobs, Enterprise and Innovation
acknowledges that Ireland needs more entrepreneurs starting high quality new businesses that will
develop innovative products, conquer new markets and create more jobs.
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There is a clear recognition that while all entrepreneurs make a contribution, certain entrepreneurs are
of particular strategic economic importance as their new businesses will have a disproportionately
positive economic impact due to their ability to exploit new technologies, their degree of innovation,
their export orientation and their aspirations for growth.
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With the availability and access to ?nance continuing to feature as a major constraint,
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for this reason
the prevalence of individuals within the general population who are willing to invest in new businesses,
started by someone else, is also important.
There is also a focus on increasing the gender balance and in encouraging more young people to
become involved in setting up businesses.
As GEM research is carried out in exactly the same way in each of the seventy economies participating
in the cycle, the results can be compared across countries and Ireland’s relative position ascertained.
For the most part, the ?ndings are compared with other developed countries, in particular with those
who were included in the GEM 2014 research cycle from the European Union and EFTA, North
America and Asia & Oceania.
For this reason GEM research is very helpful to policy makers in seeking to achieve these goals, as it
helps to identify which countries among other comparable countries, are performing particularly well
in each of these areas. No one country performs exceptionally well in all areas. This section highlights
those countries that may warrant further study by those interested in improving Ireland’s performance
in the following stated policy priorities:
• Maximising impact
- High potential entrepreneurship, characterised by growth aspiration, innovation, export orientation
- Improved survival rate
• Financing new business- informal investors
• ‘Missing entrepreneurs’
- Female entrepreneurs
- Young entrepreneurs
45
An Taoiseach, Enda Kenny, TD writing in the Forward to the National Policy Statement on Entrepreneurship in Ireland, September 2014,
page 4.
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Richard Bruton, TD, Minister for Jobs, Enterprise and Innovation writing in the Forward to the National Policy Statement on Entrepreneurship
in Ireland, September 2014, page 5.
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Action Plan for Jobs, 2014, page 20.
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Challenges around the availability and access to ?nance was the most frequently mentioned as a constraint by the panel of experts and
entrepreneurs consulted as part of the GEM research in Ireland in 2014.
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5.2 MAXIMISING IMPACT
High growth new businesses
The focus on the employment impact of early stage businesses brings the policy focus beyond the
number starting new businesses to those who are starting new businesses with the potential to grow.
Those new businesses that can grow in export markets are considered to be particularly attractive
and are to be encouraged.
It is interesting to note that while both the UK and the Netherlands rank ahead of Ireland in terms of
the rate of early stage entrepreneurial activity (10.7% and 9.5% respectively compared to 6.5% for
Ireland), very many of the early stage entrepreneurs in those countries expect to merely create a job
for themselves, as opposed to becoming an employer of others.
If we examine the TEA rate in terms of those that are or expect to become employers, we see a
signi?cant narrowing of the rate between these countries. If we exclude those who do not expect
to become employers, the rates in UK, the Netherlands and Ireland become 6.1%, 5.4%, and 4.6%
respectively. The average across Europe is 5.5%. The reason for this is that in both the UK and the
Netherlands, a relatively low rate (57%) of early stage entrepreneurs expect to become employers,
compared to 70% in Ireland. The average across Europe is 71%.
In all three countries, the majority of early stage entrepreneurs who become employers expect to
employ less than ten and their new business to remain as a microenterprise within the next ?ve years.
However, in Ireland a higher proportion expect to employ ten or more within the next ?ve years (27%),
compared to either the UK (19%) or the Netherlands (8%). In terms of the proportion of early stage
entrepreneurs with an expectation of employing 20 or more within the next ?ve years, Ireland and the
UK, have a higher proportion of such entrepreneurs (12%), than has the Netherlands (7%).
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The rate of early stage entrepreneurial activity continues to be very strong in North America and
Australia, both in terms of the rate of early stage entrepreneurial activity
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and in the rate of those
predicting signi?cant growth for their new business.
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Eastern Europe is also worthy of examination as
several countries have high rates of entrepreneurial activity, alongside high employment expectation.
The Eastern European countries of Romania, Lithuania and Slovakia have the highest TEA rates
across Europe (11.3%, 11.3% and 10.9% respectively). They also have high proportions of early
stage entrepreneurs that expect to become employers (80%, 79% and 73%). Romania and Slovakia
also have a high rate of early stage entrepreneurs who expect to employ 20 or more within the next
?ve years – 20%, and 18%. This compares with 12% of early stage entrepreneurs in Ireland who have
signi?cant growth aspirations.
Export oriented new businesses
Irish policy makers are clear about their wish to see more new businesses being focused on
international markets to achieve growth, given the limited size of the Irish market. “There will also be a
step up in ambition for the starting of export orientated companies and measures to see them more
successfully grow in scale”.
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In Ireland more than half of early stage entrepreneurs (60%) have some customers outside the country.
This is in or about the European average (63%). The UK and the Netherlands, which were noted earlier
as having high rates of early stage entrepreneurial activity, have lower proportions of entrepreneurs
with customers in international markets (40% and 51% respectively).
A higher percentage of early stage entrepreneurs in Ireland (10%) have 75% or more of their customers
in international markets, compared to the UK (6%) and the Netherlands (7%). The rate among early
stage entrepreneurs in the US, Canada and Australia is also less than in Ireland (7%, 5%, and 4%
respectively).
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Because of the overall higher rate of early stage entrepreneurial activity in the UK compared to Ireland, 1.3% of the adult population in
the UK are early stage entrepreneurs, who expect to become signi?cant employers, and employ 20 or more within the next ?ve years,
compared to 0.8% in Ireland.
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The rate of early stage entrepreneurial activity is 13.8% in the US, 13.0% in Canada and 13.1% in Australia.
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The rate of early stage entrepreneurs who expect to be signi?cant employers and employ 20 or more within the next ?ve years is 21%
in the US, 14% in Canada and 11% in Australia.
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Action Plan for Jobs, 2015, page 13.
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Among the early stage entrepreneurs in Lithuania, 12% expect to employ 20 or more within ?ve years.
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The rate of early stage entrepreneurs in Canada (27%) and Australia (26%) reporting that are using new technology is lower than in
Ireland (32%) and the European average (32%).
A country in Europe to highlight here is Sweden. While the rate of early stage entrepreneurial activity
in that country (6.7%) is similar to Ireland (6.5%), a higher proportion have some customers outside
the country (66% compared to 60%) and a high rate already have 75% or more of their customers in
international markets (14% compared to 10% in Ireland).
It is in Eastern Europe that one ?nds countries in which there is both a high rate of early stage
entrepreneurial activity, together with a signi?cant international orientation. In Lithuania, for example,
there is a high rate of early stage entrepreneurial activity (11.3%), with high growth expectations
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and
a very signi?cant international orientation. 17% of early stage entrepreneurs in that country have more
than 75% of their customers outside the country.
Innovation driven new businesses
GEM reports on indicators of innovation. The indicators it focuses on are the relative novelty of the
product or service offered, the number of competitor businesses offering the same product or service,
the use of relatively new technology and whether the business can be considered in a high-tech sector.
New products: In Ireland, 15% of early stage entrepreneurs consider that their product or service is
new to all customers. This is more or less at the European average (16%). The countries that stand out
in Europe, in respect of their entrepreneurs’ perception of the novelty of their offering, are Italy (31%),
Denmark (26%) the Netherlands (24%) and France (24%). These high rates are well ahead of the US
(18%), Canada (18%) and Australia (15%). Taiwan, however, stands alone. Over half of early stage
entrepreneurs in that economy consider that their product or service is new to all customers (52%).
New markets: In terms of the newness of the market, 14% of early stage entrepreneurs in Ireland
consider that no other business offers the same product or service. This is slightly higher than the
average across Europe (11%). The rates of early stage entrepreneurs reporting that there are no
competitors for their product or service are highest in France (22%), Denmark (19%) and Norway
(17%). The rate in Taiwan is similar to Ireland (14%).
New Technologies: In respect of the technology which their new business will use, one in ten (10%)
early stage entrepreneurs in Ireland report that they are using the very latest technology, which was
not available one year before. The rates in Slovakia (24%), France (22%) and Greece (21%) are high. A
high rate of early stage entrepreneurs in Singapore (19%) also reported that they were using the very
latest technology in their new businesses. In contrast, a much lower rate of early stage entrepreneurs
in the US (9%), Canada (7%) and Australia (5%) report that they are using the latest technology.
If one relaxes the de?nition of new technology and includes technology available in the last ?ve years,
early stage entrepreneurs in Slovakia are still to the fore with over half (51%) reporting that their
new business will use new technology. The rate in Luxembourg (46%) and France (43%) are next
highest across Europe. The rate of early stage entrepreneurs in Ireland using new technology is at the
European average (32%). The rate in the US is similar (32%).
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A high rate of early stage entrepreneurs
in Singapore (52%) report using new technology.
High-tech entrepreneurs: In Ireland 9% of early stage entrepreneurs are focused on medium to high
technology sectors. This is similar to the average across Europe (7%). In Europe, the rate of early stage
entrepreneurs focused on technology sectors is highest in Sweden (18%) and Denmark (17%). These
are very high rates and are well in advance of those in Australia (11%), the US (9%), Canada (6%) and
Singapore (6%).
The rate of new business owners in Ireland that are focused on medium to high technology sectors is
15%. No international comparisons are available for this rate, however.
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Action Plan for Jobs, 2015, page 11.
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In the same period, the rate at which entrepreneurs exited their business and it was discontinued was 2.5% in the US and 2.1% in
Canada and Australia.
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The rate relates to investor activity and average amount invested per individual over the period 2011-2014 inclusive.
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Slovakia E19,300, Lithuania E26,600 and Estonia E9,700.
Survival rate
Increasing the survival rate of new start-ups is an expressed objective in the latest Action Plan for
Jobs. “We will increase the number of start-ups, the survival rate and the capacity of start-ups to grow
to scale, all by 25 per cent”.
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The rate in Ireland at which new and established owner managers, exited a business over the twelve
month period to June 2014 and the business was closed, is already relatively low (1.2%) and below
the European average of 1.7%. Across Europe, the rate is lowest in Switzerland (0.6%). In North
America and Australia there is a higher rate of closure by entrepreneurs of their businesses, than is the
case in Ireland or in Europe more generally.
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5.3 FINANCING NEW BUSINESSES - INFORMAL INVESTORS
The rate at which those in the general population in Ireland are investing in new businesses started
by someone else (3.4%) has remained more or less constant in recent years, although the average
amount invested increased to E40,500 in 2014, compared to E29,900 in 2013.
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The rate of informal investors is highest in Eastern Europe, particularly in Slovakia (8.6%), Lithuania
(7.1%) and Estonia (6.8%). The average amounts invested in each of these countries is less than in
Ireland.
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The situation in Lithuania may repay closer examination, however, as the average amount
invested in that country (E26,600) is not far behind the average amount reported for Ireland in 2013
and the rate of investors among the average population is more than double that in Ireland.
Luxembourg also appears of interest as the rate of informal investors in that country (6.1%) is higher
than in Ireland and the average amount invested is high (E43,200). The highest average amount
invested by individuals over the last three years across Europe, North America, and Australia was
in Denmark (E113,400). That country has consistently reported very high amounts of informal
investment. The rate of informal investors across the general population in Denmark (3.4%), however,
is no higher than it is in Ireland.
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5.4 ‘MISSING’ ENTREPRENEURS
Women entrepreneurs
The relative untapped entrepreneurial potential of women has been recognised for many years at
national level and a range of measures have been introduced. In Ireland there are just over two men
that are early stage entrepreneurs for every one woman (2.1:1). Across Europe, Switzerland is the only
country in which men and women are starting new business at the same rate. The gender balance in
early stage entrepreneurial activity in Switzerland has been at 1:1 or close to it for several years.
A similar observation can be made about the relative rates of male and female owner managers of
established businesses in Switzerland. At 1.2:1 the ratio is closer than in any country across Europe and
North America. A similarly narrow ratio may be observed only in Australia. The UK, which experienced
a signi?cant increase in early stage entrepreneurial activity in 2014, maintained the gender ratio among
male and female entrepreneurs (1.8:1) that has been evident for the last four years.
Higher rates of early stage female entrepreneurial activity may be observed in the US (11.2%), Australia
(10.1%) and Canada (9.9%) than in any country in Europe. As these countries are characterised by
very high rates of early stage entrepreneurial activity,
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however, there is still a gap in the rates at which
men and women are early stage entrepreneurs.
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The interesting insight from the Swiss data in this regard is that the perception of opportunities for
entrepreneurial activity is almost equally prevalent among men and women in the general population
(46% among men and 41% among women). This is not only considerably higher than in Ireland (39%
and 29% respectively), but it is more evenly matched.
A high perception of opportunity is not suf?cient in itself to lead to high rates of entrepreneurial
activity, however. In Sweden 71% of men and 69% of women in the general population perceive good
entrepreneurial opportunities. While this rate of perception is the highest in Europe and is fairly evenly
balanced, the overall rate of early stage entrepreneurial activity in that country (6.7%) is not dissimilar
to Ireland (6.5%) and the ratio of male to female early stage entrepreneurs (2.5:1) in that country is
much wider than it is in Ireland (2.1:1).
Men and women in Switzerland diverge sharply, however, in their belief that they have the knowledge
and skills to successful start a new business, (51% and 32%). In this they are broadly similar to men
and women in Ireland (58% and 37% respectively). This divergence in perception is evident right
across Europe, and is most noticeable in Poland (70% and 39% respectively). It is also apparent in
North America, Australia and across Scandinavia.
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Young entrepreneurs
Policy makers highlight youth as having signi?cant untapped entrepreneurial potential, particularly
among those unemployed youth who already possess professional skills and competences. “The
youth cohort is a vast resource that is signi?cantly under-used”.
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In Ireland early age entrepreneurial
activity is lowest, however, among those aged 18 to 24. In 2014, they represent only 7% of all early
stage entrepreneurs, with just 3.4% of those in this age group active in the country as entrepreneurs.
This is well below the European average (12% and 7.1% respectively).
High rates of entrepreneurial activity among young people may be observed in Slovakia (18.2%),
Romania (15.6%) and the Netherlands (13.0%), with 24% of all early stage entrepreneurs in Slovakia
aged between 18 and 24.
In the Netherlands, 19% of all early stage entrepreneurs are aged 18 to 24 and early stage
entrepreneurial activity is more or less evenly spread across the age groups, except for the most
senior (55 to 64 years).
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In the US, 15% of all early stage entrepreneurs are aged between 18 and 24.
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United States, 13.8%, Australia 13.1% and Canada 13%.
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1.5:1, 1.6:1 and 1.6:1 respectively.
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This greater self belief may be observed among men and women in the general population in Canada, (56% and 42%), the US (61% and
46%), Australia (52% and 40%) and across the Scandinavian countries of Denmark (44% and 26%), Finland (40% and 30%), Norway
(38% and 23%) and Sweden (46% and 28%).
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National Policy Statement on Entrepreneurship in Ireland, September 2014, page 21.
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In the Netherlands, 5.2% of those aged 55 – 64 are early stage entrepreneurs and these represent 11% of all early stage entrepreneurs
in that country.
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SECTION 6
PROFILES OF RECENT ENTREPRENEURS
The policy spotlight is increasingly being put on entrepreneurs, particularly those who are focused on
growth and expect to become signi?cant employers, as their contribution to employment creation is
now well recognised. With this in mind, in selecting entrepreneurs to pro?le for the 2014 report, we
decided to focus particularly on those who have recently started innovative businesses, with a strong
focus on growth.
Some of the entrepreneurs pro?led actively sought out opportunities for a new venture. This is what
motivated Wayne Byrne to participate in Enterprise Ireland’s Business Partner’s Programme. Others
identi?ed an opportunity for a new business almost by accident through their seeking a solution to
an experienced dilemma. This was the case with Isolde Johnson who was looking for a healthy fast
food option and Yvonne Brady who sought a solution to a personal problem encountered by active
women following childbirth. Myles Murray identi?ed the opportunity for his new business while on a
work placement. Some like Moira Kiely were motivated by necessity: “When you absolutely have to, it
is amazing what you can pull out of the bag”.
Some of those pro?led are serial entrepreneurs – Ben Harris, Moira Kiely, Simon Lynch, Wayne Byrne
and Yvonne Brady. For others, this is their ?rst entrepreneurial venture – Isolde Johnson, Julie Currid,
and Myles Murray.
Setting up a new business is not easy. Besides passion and a vision, there is a need to be able to
convince others of the merits of the new products or services. Julie Currid of Initiafy is very clear about
this – “Everything from acquiring customers, raising capital, PR, marketing and recruitment are all
in?uenced by your ability to sell your company, your product and yourself! “
Third party recognition whether by winning awards or by endorsements can be very powerful for an
early stage company. Re?ecting on the number of awards his company has already won, Wayne
Byrne of OxyMem says: “The Awards have given us signi?cant international credibility, which has been
important for funding and in our search for partners. They also stand to us as we begin to look at more
international markets.” Yvonne Brady of EVB Sports Shorts in supporting its sales drive can point to
endorsements by both medical and sporting professionals all over Ireland and by the physiotherapy
suppliers to the UK athletics team.
The entrepreneurs are all characterised by a willingness to seek support from others. This may be
from a New Frontiers programme, like Genesis, or a sector speci?c support initiative like Food Works,
an Accelerator, a developmental initiative for female entrepreneurs such as Going for Growth, or more
generally from Enterprise Ireland and the other development agencies. Initial customers can also be
very supportive. The entrepreneurs frequently acknowledge the contribution of their team, as the team
building out the new business often underpins its initial success.
Becoming an entrepreneur is not an easy option. None of the entrepreneurs pro?led underestimate
the challenges involved. They speci?cally mention dif?culties in raising ?nance, educating potential
customers about a new product or service and coping with less than ideal broadband speed and
connections.
Myles Murray describes being an entrepreneur as an extraordinary tough and rewarding role and one
that needs unyielding belief. To anyone thinking of becoming an entrepreneur, Simon Lynch advises
them to think it through and make an informed decision. “Before setting up your own business, you need
to be 100% committed. If your heart is not in it, it’ll be extremely dif?cult to succeed.” He suggests that
budding entrepreneurs are proactive and seek advice from family, friends and state agencies.
The pages which follow contain pro?les of eight entrepreneurs, who have recently set up new
businesses in Ireland. The entrepreneurs featured are as follows:
• Ben Harris • Isolde Johnson • Julie Currid • Moira Kiely
• Myles Murray • Simon Lynch • Wayne Byrne • Yvonne Brady
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BEN HARRIS, Drop
Ben Harris is the chief executive and co-founder of Drop, an interactive recipe app - Drop Kitchen -
that connects to a pipeline of smart kitchen products. The ?rst one, the Drop Kitchen scale wirelessly
connects to an iPad app to offer features such as rescaling quantities and common substitutions, with
just a tap.
“I had always been interested in bringing food and technology together. I wanted to eliminate the
ambiguity and dif?culty around cooking food at home.”
With entrepreneurship running in the family, Ben’s creativeness and self-con?dence has encouraged
him to follow in his parent’s footsteps and set up on his own. Ben’s mother is Elaine O’Hora, founder
of the Munchies chain of sandwich bars and franchise network, while his father Peter Harris founded
Ireland’s ?rst courier company, Pony Express.
Ben studied industrial design at London’s Brunel University, where he invented Perfegg, a machine
to cook the perfect soft boiled egg. Following four years working as a product design engineer, Ben
established his ?rst business White Zebra Studios, a product design consultancy which was honoured
by the Institute of Designers Ireland with two awards in its ?rst year.
In 2012, Ben co-founded Drop along with Jonny McCauley, Jack Phelan and Tim Redfern. “The guys
and I saw an array of connected products being released across the home and felt the kitchen was really
underserved. We also saw that recipes hadn’t changed over the years; a block of text, a list of ingredients
and an image. 50 per cent of iPads were being used in the kitchen and recipes were the third most-shared
content online. With these things in mind, we decided to make our interactive recipe platform.”
In 2013, Drop took part in PCH’s inaugural Highway 1 programme, a hardware accelerator based in San
Francisco. In February 2014, Ben and the team launched the Drop connected kitchen scale and recipe
app to the public at the Launch Festival in San Francisco and won the best consumer product award.
Following a successful pre-order campaign in the summer of 2014, the Drop Kitchen Scale went on
sale in Apple Stores in the USA, Canada and the UK. Today, the product is also available in Lakelands
in the UK, Harvey Norman in Ireland and also in the Apple Stores in Australia and New Zealand. Drop
Kitchen Scale is now stocked in over 1,800 Target stores throughout the USA.
With their headquarters in Dublin and a satellite of?ce in San Francisco, Drop now employs a team
of 14. Ben and his fellow co-founders has been delighted with the start-up’s achievements to date.
“We began with a team of ?ve, with a 3D printed prototype, a rough mock of an app and not enough
money to pay our Wi-Fi bill in March 2014. Within nine months, we had our product on the shelves of
every Apple Store in the USA, $1 million in revenue and over $2 million in funding.”
Ben indicates that Drop’s early success would not have been possible without key investors and
supporters, including PCH, Frontline Ventures, Innovation Works and Enterprise Ireland. Starting out
from the NDRC Launchpad programme, Drop conducted feasibility studies with Enterprise Ireland
funding and also received Competitive Start Funding. In 2014, Drop was awarded High Potential
Start-up support by Enterprise Ireland. Most recently in June 2015, Ben was a ?nalist in the Emerging
Category of the EY Entrepreneur of the Year competition.
Ben explains that there are three phases to Drop’s business model. First, the company plan to develop
beautifully designed hardware products that people will welcome into their kitchen. The team then
wish to integrate Drop technology with kitchen appliance manufacturers and, ?nally, build a connected
social, interactive recipe operating system for the whole kitchen.
“In the short term, we’re focusing on software launches. In the next twelve months, we expect to have
more products coming to market.”
Drop is focusing on the bene?ts of connected kitchen appliances to the end users. Ben believes
the race to the smart kitchen has begun. “Every one of the kitchen manufacturers now has an
interconnected programme. In three years a connected kitchen will be ubiquitous, in ?ve years we’ll all
be wondering how anyone lived without it.”
www.getdrop.com
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ISOLDE JOHNSON, The Cool Bean Company
While studying for a BA in Business and Politics in Trinity College Dublin (TCD), Isolde Johnson com-
pleted an internship in EY, working on the Entrepreneur of the Year programme. While working in EY,
she met Sarah O’Connor, her future business partner and co-founder of The Cool Bean Company.
“Sarah and I just clicked instantly and developed a strong working relationship. I never expected that
we’d end up in business together.”
At the end of a long working day, Isolde and Sarah struggled to ?nd something tasty and convenient
to eat and were increasingly conscious of the bene?ts of a healthy diet on their physical and mental
wellbeing. With no inspiration from the ready meals on offer in their local supermarkets, they began
looking to develop an alternative of their own. They co-founded The Cool Bean Company to create a
no fuss, no nonsense, superhero food.
“When we ?rst developed the Cool Beans product, our biggest challenge was time. Both Sarah and
I were still working full time and ?nding time to dedicate to the business was dif?cult. We wanted to
prove that the business concept could be successful before taking a risk and leaving a secure job.”
Isolde and Sarah conducted a feasibility study with funding from Dublin City Local Enterprise Of?ce.
To test the market they began selling their signature product, Cool Beans, at music festivals including
Body and Soul and Electric Picnic in the summer of 2013.
In early 2014, Isolde left her job and began working full time in the business. The next step was to
produce suf?cient quantities for the retail market. They decided to outsource the manufacturing of
Cool Beans and began searching for a suitable partnership.
“We wanted to keep manufacturing on the island of Ireland. We met with numerous potential partners
around the country, but it proved dif?cult to ?nd the right ?t. Quality was extremely important to us. We
were delighted to eventually ?nd the perfect partner in Derry.”
Cool Beans comes in three ?avours – original tomato, smokey paprika and hot chilli. The product is
packed with protein and ?bre, is low in fat, salt and calories, has no added sugar and is gluten free.
Cool Beans is completely new to the retail market. Isolde and Sarah have differentiated their brand
through an innovative approach to packaging with strong colours and graphics.
In 2014, Isolde and Sarah were participants on Dublin City Local Enterprise Of?ce’s Food Academy
programme, which is run in association with Bord Bia and SuperValu. “It was a real eye-opener for us
on how to effectively run a food business and bring it to a level of sustainability. SuperValu have been
a great support. Their shoppers’ demographic ?ts well with our brand and their focus on quality is
second to none.”
Cools Bean has now secured a central listing with SuperValu and all three products are available in
223 stores nationwide. Isolde and her team currently hold at least eight tastings a week in various
SuperValu stores around Ireland and also feature in the supermarket’s national advertising campaign.
“Up until recently, we were delivering the items to each store and invoicing them individually. Now it is
centralised, we have more time to concentrate on increasing our stockists and expanding our product
range. We would like to develop our ideas for new products later this year and bring them to market
in 2016. ”
Cool Beans was recently featured on RTE’s The Late Late Show (TV) and Ryan Tubridy (Radio). In
2015, Isolde took part in the Starting Strong programme, a support initiative for early stage female
entrepreneurs.
The company plans to grow in Ireland and to continue to build brand awareness here. Isolde aims to
launch with other major retailers by the end of 2015. With manufacturing in Derry and a distribution
partner based in Lisburn, Northern Ireland, Cool Beans is well placed to enter the UK Market in the
coming months. Isolde also expects to export across Europe in the future.
www.coolbeans.ie
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JULIE CURRID, Initiafy
Julie Currid had always wanted to start her own business. For her, it was a case of ?nding the right
opportunity and the right business partner, which would lead her to take the leap in March 2012.
Having studied Management and Marketing in DIT, Julie began her career in marketing. By 2010,
she sought a more challenging, entrepreneurial opportunity and began working in a Dublin based
e-learning start-up where she met her future business partner, Sean Fennell. During this time, Julie
set up the company’s London of?ce and gained an insight into the HR and training needs of large
multinationals.
In 2012, Julie and Sean both left their roles to set up Initiafy, formerly Induction Manager. Together they
had recognised the need in the market for a product which would focus on the challenge of delivering
inductions to large numbers of short-term workers.
Julie explains exactly how Initiafy helps their clients save time and money. “Some industries such as
construction and retail face the challenge of high volumes of new staff who all need to be introduced to
the company culture, policies and safety procedures. Initiafy is an online platform that helps companies
manage the initial steps new staff take to become productive and safe members of their workforce.
Our customers adapt the platform themselves to suit their needs so that new starters can self-register
and self-train before starting a new job.”
Initiafy’s customers are typically companies which use a large number of contractors, temporary,
seasonal staff or project workers. Its client base now includes Domino’s, P?zer, Adobe, Sodexo, Lidl
and ?ve of the top 20 construction companies in the world. The company also works with all the major
energy companies in Ireland, as well as British Gas in the UK. “We plan to increase our customers in
the energy sector in the UK. We have seen signi?cant traction in this area globally and we have also
begun targeting the US market.”
In December 2014, Julie and Sean opened an of?ce in New York. Within three months, the company
had already reached the same revenues that took almost three years to build in the UK and Ireland. In
March 2015, the company rebranded to Initiafy.
“We had set up as Orientation Manager in the USA as the word Induction had a different meaning
there. However, as this led to a duplication of SEO work, PR, blogs, it was not practical. Too many
resources were going into managing it – even having two accounts for Social Media platforms was
time consuming.”
Julie explains that the company’s product offering has also grown. “While our focus was originally solely
on inductions, we realised that we could also cover employee registrations, contractor management,
online forms and the upload and exchange/validation of employee documents.”
In 2014, Julie took part in the 6
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cycle of Going for Growth and found being able to con?dentially
discuss her business issues with like-minded female entrepreneurs very bene?cial.
Raising ?nance has instigated a major leap forward for Initiafy to date. Julie stresses the importance of
securing sales traction before approaching investors. “When setting up a business, you should focus
on perfecting a sales pitch. Everything from acquiring customers, raising capital, PR, marketing and
recruitment are all in?uenced by your ability to sell your company, your product and yourself!”
Today, Initiafy employs 17 people in Dublin and has 7 staff in their New York of?ce. Julie and Sean
are now ?rmly focused on the USA and other international markets. “There is huge revenue potential
for the company due to growing trends whereby companies are using more contract workers and
governments are enforcing more workplace safety regulations. By the end of 2015, we hope to have
100 staff employed.”
www.initiafy.com
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MOIRA KIELY, Xhail
In 2013, Moira Kiely co-founded Xhail with her business partner and husband Mick. Xhail is a music
publishing software platform that creates original copyrighted music pieces from a centralised
database of categorised musical stems or instruments.
Qualifying as a Nurse in the late 1980s, Moira immigrated to Australia and became involved in the
hospitality industry, running cafes and restuarants. In 1995, Moira returned to Ireland and opened the
?rst specialised coffee house “Kaffe Moka” in Dublin with her brother, who still runs the business today.
Moira and her husband, Mick Kiely who is a composer, moved to Wexford. The idea for Xhail was born
out of necessity as Moira and her family struggled during the economic downturn. “I often use the
phrase - Up from the ashes, grow the roses of success. When you absolutely have to, it is amazing
what you can pull out of the bag.”
Moira and Mick spent over a year developing a business plan and a proof of concept, overcoming many
trials along the way. The product took over two years to develop. The couple worked extremely hard
to prove the concept for Xhail, while making people believe what could be achieved with the product.
“It didn’t just consist of the technology element. We had to inspire a whole nation of composers and
musicians, outlining why Xhail is unique and different to others in the industry.”
Xhail’s potential customers are continuously bombarded with the “newest” music technology. It has
been important for Xhail to set themselves apart from the competition.
They raised €500,000, which included match funding from Enterprise Ireland, as one of their HPSU
clients (High Potential Start Up).
Xhail’s clients range from people making full feature ?lms, advertisements, wedding videos or YouTube
videos. Moira believes that there is great potential for Xhail internationally – wherever anyone is
making music for media or personal use. Now that the Xhail product is market ready, it can become
mainstream. “We have great support behind us and a strong team to help us scale!”
For Moira, the Xhail journey to date has been worth the risk. “To come out of the economic downturn
and be where we are – to keep going, is a great achievement. There have been so many occasions
along the way where we could’ve packed it in, but we went ahead and took the next step.”
The Kiely’s children are also working in the business. Their eldest son recently completed a Masters
in Music Technology in NUI Maynooth, while the Xhail Logo was designed by another son, currently
studying in the National College of Art and Design (NCAD). Since offering the product to a few select
people, the Kiely’s have discovered many in the music industry who have been watching Xhail’s
progress with great interest. Moira, Mick and the Xhail team are now looking to go for growth and
have turned their focus to sales.
“We have a global platform for growth. We wish to develop a strong presence in the US Market and
are planning on opening an of?ce in Los Angeles.” With this in mind, Moira’s husband and co-founder
of Xhail, Mick has recently relocated to Los Angeles, where there is great excitement for the product.
In Ireland, Xhail employs 14 people and has just entered into the market.
“We have a strong, wonderfully engaged team in Gorey. The biggest challenge in Wexford to date has
been infrastructure. Trying to build a company that is dependent on online services, without suf?cient
broadband to meet our business needs has been a major hindrance.”
www.xhail.com
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MYLES MURRAY, PMD Solutions
While studying Mechanical Engineering in Cork Institute of Technology (CIT), Myles Murray completed
a work placement in the Medical Engineering Design and Innovation Centre (MEDIC) in 2010. During
the year, Myles worked on a number of ideas as an introduction to the design of medical devices.
Showing a strong desire to take a concept of his own to the next stage, Myles was introduced to
Stephen Cusack, the ?rst Professor of Emergency Medicine in Ireland, who was Head of the A&E
Department at Cork University Hospital. “Stephen had a very simple need. Every day he faced so
many patients in the emergency department with respiratory problems, including tightness of the
chest and shortness of breath. However, there was no way of monitoring the rate of respiratory
irregularities or to indicate a change in the patient’s condition. The technology to accurately do so
simply did not exist.”
Myles began working on the concept for RespiraSense as his ?nal year project in CIT. RespiraSense is a
discrete sensor pad patients wear on their chest. It monitors breathing continuously and alerts medical
practitioners if irregularities are detected. The project won Myles CIT’s Entrepreneur of the Year Award in
2011 and a place on the Genesis Enterprise Programme in the Rubicon Centre. “With my engineering
background, I had little knowledge of setting up a business. The Genesis programme provided a great
platform to learn about business strategy, development and bringing a product to market.”
Setting up PMD Solutions, Myles partnered with Irish medical device manufacturer Gentian Services
in Co. Clare to develop RespiraSense. Partnering with Gentian enabled lower development costs, risk
sharing and the quicker establishment of a world class supply chain that could deliver small-scale
products at a competitive price, while also being capable of high volume manufacturing.
One of the main barriers facing PMD Solutions was raising capital. “Being in the MedTech space,
it required a signi?cant amount of capital due to the necessity for clinical evaluations, reviews and
trials.” South Cork Local Enterprise Of?ce saw the opportunity and offered match funding. Myles also
successfully applied to his local AIB branch in Douglas, Cork for a business loan, at a time when bank
lending was at a severe low.
Another challenge facing Myles was how to effectively demonstrate the tangible economic bene?t of
adopting RespiraSense. The product was not displacing older technology in the hospitals and was
completely new to the market. During the recession, healthcare budgets across the board were being
cut and educating experts in the sector was challenging. The company had to demonstrate that its
product could save potential clients money. “We are very fortunate that we are in an emerging market
sector, where extensive research has already been conducted. We can illustrate a return on investment
of 80% annually through the adoption of RespiraSense, by enabling the reduction of respiratory
compromise events by 10% – a problem projected to cost the US and EU €32Bn each year by 2020.”
Myles has attributed the success of PMD Solutions to the team of ten working with the company.
Employing ?ve executives and ?ve engineering staff, the development of RespiraSense began in
December 2013. Within nine months, the product was fully developed. In early 2014, the company
was awarded High Potential Start-up support (HPSU) by Enterprise Ireland following on from
a commercialisation grant. In November of the same year, RespiraSense received its CE mark
certi?cation and launched into the European marketplace.
Myles expects RespiraSense to be used in ten hospitals in Europe and Asia by the end of 2015,
serving over 7,500 patients and the product is now positioned to become a new industry standard
for the early detection of in-hospital respiratory compromise. “We have spent the last twelve months
focusing on ?nding the right distributors who have the appetite and attitude to develop a market with
PMD Solutions. We are currently in negotiations with the top four patient monitoring companies in the
world. If successful, we intend opening international of?ces in the USA and Asia.”
To date, Myles has no regrets about becoming an entrepreneur, but warns that it may not be for
everyone. “For those up for the challenge of running their own business and making it successful, it is an
extraordinary tough and rewarding role. One needs unyielding belief regardless of which point you are
on your journey. My advice is to take a moment to pause, commit to the dream, and drive on with it.”
www.pmd-solutions.com
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SIMON LYNCH, Wicklow Wolf Brewing Company
A horticulturist by profession, Simon Lynch trained in the Botanic Gardens, Dublin in the 1990s.
Enjoying the creative freedom of designing, Simon set up his own landscaping business in 2000.
In 2012, the idea for the Wicklow Wolf Brewing Company was ?rst explored following a conversation
between Simon and his friend Quincey Fennelly. “Quincey was a home brewer and an artisan baker.
We had both spent time in San Francisco at separate times and fell in love with craft beers and the
art of brewing.”
For over two years, Simon and Quincey researched the craft beer industry, touring Ireland, the UK and
USA, discovering a substantial international demand for Irish craft beer. They went on to establish a
brewing facility in Bray, Co. Wicklow in September 2014. The brewery, located in an old bakery on the
banks of the Dargle River, is supplied by a 10 acre hop farm based in Roundwood. Hops, which are
used as the key ?avouring ingredient, are an integral part of the brewing process.
The Latin for hop is ‘humulus lupulus’ (Lupulus meaning small wolf), while across Europe, the harvester
of the Hops is known as a wolf harvester. While discussing potential names for their business, Wicklow
Wolf was conceived. Simons explains that the last wolf in Ireland was believed to have been killed
around the Wicklow border with Carlow and Wexford in the 18th century. “The wolf is very much a
family/pack animal. He is very loyal to his community and here at the Wicklow Wolf Brewing Company,
we want to create a community of discerning beer drinkers.”
In 2014, Simon and Quincey took part in the FoodWorks programme and found the advice from Bord Bia,
Enterprise Ireland and Teagasc invaluable. “Without their direction, we wouldn’t have started as strongly
as we have.” The company were also awarded High Potential Start-up support by Enterprise Ireland.
Beginning production in September 2014, the Wicklow Wolf Brewing Company had already plans to
expand and open a second, larger premises. “We have already reached our capacity and hope to
move from 4,000 square feet to over 30,000 square feet by the end of 2015. We didn’t think that we’d
have capacity issues this soon! We will keep our original premises for special brews and for Wicklow
Wolf brewery tours.”
The company’s capacity issues are even more remarkable as they have yet to begin trading
internationally. Simon and Quincey decided to concentrate on the local and national markets initially
before going international. The ?rst step will be to begin trading in Northern Ireland by the end of 2015,
before turning the focus to the UK and the USA markets. “We would like to build a global beer brand,
produced in Ireland in the most environmental friendly way possible. I’d like Wicklow Wolf Brewing
Co. to become a household name and to be known by people of drinking age throughout the world.
Food pairing has become a huge part of beer consumption. Alongside wine, craft beers have been
recognised as complimenting good food. It’s about the quality taste and ?avours. “
Simon also plans to look at exploring other beer products, including Gluten-free and non-alcoholic
beers, while maintaining a distinctive craft beer taste and quality. “To date, we have concentrated on
perfecting our core range of craft beers. When we expand into our new facility, we hope to look at
developing other products, with low or no alcohol content, as well as coeliac friendly beers.”
Employing a team of six, the Wicklow Wolf Brewing Company currently produce eight craft beers,
including four seasonal specialities. While the idea for the brewing business was developing, Simon
and Quincey were introduced to Peter Reynier from Colorado, USA. Excited by the opportunity to live
and work in Ireland, Peter moved to Bray to join the start-up as Head Brewer. “Our team have worked
tirelessly. There are no tasks too big or small. We have worked really hard developing the business, but
wouldn’t have succeeded without the support of our staff, family and friends along the way.”
To anyone thinking of becoming an entrepreneur, Simon advises them to think it through and make
an informed decision. “Before setting up your own business, you need to be 100% committed. If your
heart’s not in it, it’ll be extremely dif?cult to succeed. He suggests that budding entrepreneurs are
proactive and seek advice from family, friends and state agencies.
www.wicklowwolf.com
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WAYNE BYRNE, OxyMem
Serial Entrepreneur, Wayne Byrne is the Managing Director of OxyMem, a UCD spinout now based in
Athlone. Founded in 2013, OxyMem has developed a revolutionary new system which can bring down
the operating costs of wastewater treatment plants by up to 75 per cent.
Wayne holds an International Executive MBA and a Diploma in Advanced Management from UCD.
In the last 7 years, Wayne Byrne acquired, restructured, and sold a major waste equipment supply
company, Manvik Group. Manvik had over 80 staff, a turnover in excess of €40M, and had operations
in the UK and Ireland.
Seeking more challenges in the clean technology space, Wayne went on to set up Biocore
Environmental and established a signi?cant presence in wastewater sludge management and
renewable gas generation.
In April 2010, Wayne successfully became a member of Enterprise Ireland’s Business Partners
Programme. The aim of the programme is to identify, engage and support individuals, with strong
commercial experience, to capitalise on the rich portfolio of research within the academic sector and
create export oriented start-up companies. “At the time I was looking to ?nd something to compliment
my existing company, Biocore Environmental. OxyMem had a long way to go before it was going
to be marketable. I began working on the project on a part-time basis. In July 2013, OxyMem was
ready for market, at which point, I decided to step back from Biocore. Today, I am still involved as the
non-executive Chairman, but wanted to focus my energy full-time on OxyMem.”
While in UCD, OxyMem developed and patented the Membrane Aerated Bio?lm Reactor (MABR),
solving energy intensive wastewater treatment. “Conventional wastewater treatment consumes 2-3%
of a nation’s electricity production. This is due to a reliance on bubble diffusion for treatment plants
which will typically suffer energy losses of 65%-70% in the process because of the oxygen transfer
limitations. OxyMem does not have any such limitations. It uses hollow ?bre gas permeable membranes
to support a ?xed ?lm eco-system for the biology which allows for direct delivery of oxygen to the
micro-organisms. OxyMem can achieve 95% oxygen transfer rates, resulting in a fourfold saving on
energy costs.”
In January 2014, a manufacturing facility in Athlone was set up and OxyMem began generating revenue
the following June. Within a year, the start-up had raised €2 million in funding. Wayne expects that the
company will continue to expand rapidly over the coming years. OxyMem now employs 42 staff and
is growing. “By the end of 2015, we aim to be turning over €1 million plus. Our plan in the short term
is to grow what has been a small production footprint into a larger one. Being able to effectively scale
production will be key. We decided to establish our facility in Athlone, as there are great resources
available to us there, including a skilled workforce.”
Wayne credits the support OxyMem has received as a main contributor to the start-ups’ success to
date. “Enterprise Ireland have been tremendous supporters; providing ?nance, mentoring and advice
on market entry. We also have great support from early adopters of our technology, such as Severn
Trent Water. They have been fundamental in generating awareness of OxyMem and winning new
customers.”
OxyMem has a strong relationship with Suez International who took an interest in the innovative
technology in the early stages. The company has now partnered with Aqualogy in Spain, which is part
of the Suez group.
Over the last eighteen months, OxyMem has received numerous accolades, including Water
Innovation SME Award in Europe and an award for Excellence in Intellectual Property. The company
was announced as the overall Winner of the 2014 Irish Times InterTradeIreland Innovation Awards.
This year, OxyMem was selected as a winner of the Emerging Business Category at the SFA Small
Business Awards and won the Imagine H
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“The awards have given us signi?cant international credibility, which has been important for funding
and in our search for partners. They also stand to us as we begin to look at more international markets
including North America, Asia and the Middle East.”
www.oxymem.com
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YVONNE BRADY, EVB Sport
EVB Sport was not the ?rst business that Yvonne Brady was involved in starting. A quali?ed engineer,
she co-founded an engineering practice in 2000. Her identi?cation of an opportunity for the new
business arose from her own experience, following the birth of her third child. As she explains:
“I decided to run the Dublin City Marathon, but while training I discovered that my deep core muscles
required extra support. After pregnancy, some women experience prolapse, and I suffered light
bladder leakage whilst running. I didn’t speak about it to anybody. I was morti?ed.”
Yvonne decided to turn her engineering skills to designing sportswear for women after childbirth,
when she discovered that she was not alone - over a third of women suffer to some degree from weak
pelvic ?oor muscles. In March 2012, Yvonne began working on the concept for her product and took
part in DKIT’s New Frontiers programme, which is supported by Enterprise Ireland. Yvonne developed
EVB Sports Shorts, which feature patent pending technology to support the abdomen, lower back
and perineum, and effectively taking pressure off the core muscles.
Finding a suitable manufacturer to produce the shorts proved very dif?cult and took over a year to
source.
Yvonne is very grateful for the support she has received from Enterprise Ireland. Feasibility support,
enabled Yvonne to conduct in depth market research; she was subsequently successful in being
awarded competitive start funding in late 2013; and used two innovation vouchers to help with product
testing in DCU, TCD, and the Royal College of Surgeons.
EVB Sports Shorts have been endorsed by both medical and sporting professionals all over Ireland
and have also been endorsed by the physiotherapy suppliers to the UK athletics team. The product is
also being recommended by the top maternity hospitals in Ireland and the UK.
Elverys initially launched EVB Sports Shorts in three of its retail outlets in Galway, Dundrum and Arnotts
in Dublin in September 2014. Based on a successful launch, the product is now available in 12 Elverys
stores throughout the country. The shorts are also available in the three Amphibian King stores and
through many independent physiotherapy practices around Ireland and the UK, including London’s
largest physiotherapy practice.
In October 2014, Yvonne reached the ?nal of the Cartier Women’s Initiative Awards as one of
three European representatives. In total, just 18 ?nalists had been selected from over 1,000 female
entrepreneurs worldwide. In November 2014, Yvonne won the Regional Final for InterTradeIreland’s
Seedcorn Competition.
In 2014, Yvonne secured investment and support from two Investors on RTÉ’s Dragons’ Den. She
decided against accepting the money from the Dragons, however, and instead sought HPSU support
from Enterprise Ireland. In April 2015 Yvonne was approved for match funding with EI, after attracting
further private investment.
EVB Sport’s vision is to become a leading global supplier of women’s sportswear. Yvonne found a
lack of capital has been her main barrier to growth, “Trying to create a global brand requires a lot
of investment. When you have created something new it takes more time and effort to educate the
market. Having found a clear gap in the market, I am focused on securing ?nancial support to bring
EVB Sport Shorts international in the coming years!”
Yvonne plans to focus on sales, marketing and product development and has just hired a sales
representative and is currently seeking a digital and marketing executive to join the team, which is
based in Drogheda, Co Louth.
www.evbsport.com
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SECTION 7
COMPARATIVE INTERNATIONAL DATA ON
ENTREPRENEURSHIP IN 2014
TABLE A - RATES OF ENTREPRENEURSHIP
Nascent New TEA: TEA TEA Owner
entrepreneurs business Early stage ranking ranking managers of
owners entrepreneurs established
businesses
Adult Adult Adult Adult
population population population European population
% % % countries EU-15 %
Europe (EU and EFTA)
Austria 5.8 3.1 8.7 10 4 9.9
Belgium 2.9 2.5 5.4 22 12 3.5
Croatia 6.0 2.0 8.0 11 3.6
Denmark 3.1 2.5 5.5 21 11 5.1
Estonia 6.3 3.5 9.4 7 5.7
Finland 3.4 2.3 5.6 19 9 6.6
France 3.7 1.7 5.3 23 13 2.9
Germany 3.1 2.3 5.3 24 14 5.2
Greece 4.6 3.4 7.9 12 5 12.8
Hungary 5.6 3.9 9.3 8 7.9
Ireland 4.4 2.5 6.5 16 8 9.9
Italy 3.2 1.3 4.4 25 15 4.3
Lithuania 6.1 5.3 11.3 2 7.8
Luxembourg 4.9 2.3 7.1 13 6 3.7
Netherlands 5.2 4.5 9.5 6 3 9.6
Norway* 2.8 3.0 5.7 18 5.4
Poland 5.8 3.6 9.2 9 7.3
Portugal 5.8 4.4 10.0 5 2 7.6
Romania 5.3 6.2 11.3 1 7.6
Slovakia 6.7 4.4 10.9 3 7.8
Slovenia 3.8 2.7 6.3 17 4.8
Spain 3.3 2.2 5.5 20 10 7.0
Sweden 4.9 1.9 6.7 15 7 6.5
Switzerland* 3.4 3.8 7.1 14 9.1
United Kingdom 6.3 4.5 10.7 4 1 6.5
European average 4.6 3.2 7.7 6.7
North America
Canada 7.9 5.6 13.0 9.4
United States 9.7 4.3 13.8 6.9
Asia & Oceania
Australia 7.6 5.7 13.1 9.6
Japan 2.7 1.3 3.8 7.2
Singapore 6.4 4.8 11.0 2.9
Taiwan 4.4 4.1 8.5 12.2
* EFTA
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TABLE B - RATES OF INTRAPRENEURSHIP
Intrapreneur Intrapreneur Intrapreneur Intrapreneur
in past 3 years in past 3 years now now
Adult Employed Adult Employed
population population population population
% % % %
Europe (EU and EFTA)
Austria 5.6 10.0 4.2 7.5
Belgium 5.4 8.5 4.0 6.3
Croatia 3.6 8.4 3.0 6.9
Denmark 11.4 16.8 8.6 12.6
Estonia 3.6 5.4 2.8 4.3
Finland 4.5 6.4 3.7 5.3
France 3.8 6.3 2.6 4.4
Germany 4.4 6.6 3.5 5.1
Greece 0.8 2.1 0.6 1.7
Hungary 2.8 5.8 1.8 3.8
Ireland 6.7 11.8 5.6 10.0
Italy 0.8 1.9 0.6 1.6
Lithuania 5.1 10.2 3.4 6.7
Luxembourg 7.3 10.7 5.1 7.5
Netherlands 7.0 9.4 5.2 7.0
Norway* 7.9 9.9 5.4 6.7
Poland 3.4 6.6 2.3 4.4
Portugal 3.2 6.2 2.4 4.6
Romania 4.9 8.1 4.0 6.6
Slovakia 4.9 8.4 4.3 7.4
Slovenia 4.7 8.6 3.8 6.8
Spain 1.8 4.8 1.5 3.9
Sweden 5.8 8.1 4.7 6.6
Switzerland* 6.1 9.4 4.9 7.6
United Kingdom 7.0 11.2 6.2 9.9
European average 4.9 8.1 3.8 6.2
North America
Canada 4.8 7.0 3.4 5.1
United States 6.5 10.4 5.0 8.0
Asia & Oceania
Australia 8.5 12.5 6.1 9.0
Japan 1.1 1.7 0.9 1.4
Singapore 4.8 7.0 3.9 5.6
Taiwan 7.6 9.9 7.6 9.9
* EFTA
66
E
N
T
R
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P
R
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N
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R
S
H
I
P
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N
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R
E
L
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D
2
0
1
4
67
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N
E
U
R
S
H
I
P
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N
I
R
E
L
A
N
D
2
0
1
4
TABLE C - RATES OF ASPIRING ENTREPRENEURS
Aspiring Aspiring
entrepreneurs entrepreneurs
Not currently active as
Adult entrepreneurs in
population adult population
% %
Europe (EU and EFTA)
Austria 10.7 8.1
Belgium 12.4 10.6
Croatia 22.9 19.5
Denmark 8.4 6.9
Estonia 10.6 9.8
Finland 9.1 7.9
France 16.0 14.2
Germany 8.3 5.9
Greece 10.4 9.5
Hungary 16.0 13.9
Ireland 8.3 7.2
Italy 13.2 11.4
Lithuania 22.3 19.7
Luxembourg 16.4 11.9
Netherlands 10.8 9.3
Norway* 6.2 5.0
Poland 19.4 15.6
Portugal 18.4 15.8
Romania 32.7 31.7
Slovakia 19.0 15.1
Slovenia 12.3 11.4
Spain 8.0 7.1
Sweden 10.1 8.5
Switzerland* 8.8 7.1
United Kingdom 8.9 6.9
European average 13.6 11.6
North America
Canada 16.8 12.0
United States 16.2 12.1
Asia & Oceania
Australia 11.8 10.0
Japan 5.3 2.5
Singapore 15.0 9.4
Taiwan 28.1 25.6
* EFTA
68
E
N
T
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E
P
R
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N
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S
H
I
P
I
N
I
R
E
L
A
N
D
2
0
1
4
69
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69
E
N
T
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R
S
H
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P
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N
I
R
E
L
A
N
D
2
0
1
4
TABLE E - ENTREPRENEURIAL TEAMS
Nascent New business Early stage Owner managers
entrepreneurs owners entrepreneurs of established
businesses
Number Number of Number of Number of
of owners owners owners owners
Europe (EU and EFTA)
Austria 1.7 1.6 1.7 1.4
Belgium 2.1 1.9 2.0 1.9
Croatia 2.0 1.9 1.9 1.6
Denmark 1.9 1.4 1.7 1.5
Estonia 1.9 1.6 1.8 1.6
Finland 2.2 2.1 2.1 1.6
France 1.7 2.0 1.8 1.9
Germany 1.7 1.7 1.7 1.4
Greece 1.8 1.5 1.6 1.5
Hungary 2.2 1.7 2.0 1.7
Ireland 1.7 1.5 1.7 1.7
Italy 1.7 1.4 1.6 2.2
Lithuania 1.8 1.8 1.8 1.7
Luxembourg 2.0 1.9 2.0 2.1
Netherlands 1.7 1.5 1.6 1.8
Norway* 2.0 1.9 2.0 1.8
Poland 1.5 1.5 1.5 1.3
Portugal 1.9 1.7 1.8 1.4
Romania 1.8 1.7 1.8 1.6
Slovakia 2.0 na na 1.8
Slovenia 2.1 1.7 1.9 1.6
Spain 1.9 1.8 1.9 2.1
Sweden 1.8 1.9 1.9 na
Switzerland* 1.6 1.7 1.7 1.6
United Kingdom 1.7 1.6 1.6 1.7
European average 1.9 1.7 1.8 1.7
North America
Canada 2.0 1.8 1.9 2.1
United States 2.0 1.9 2.0 1.5
Asia & Oceania
Australia 1.9 1.6 1.8 1.6
Japan 2.7 na na 2.1
Singapore 2.4 2.0 2.2 1.9
Taiwan 2.8 2.5 2.6 1.6
* EFTA
70
E
N
T
R
E
P
R
E
N
E
U
R
S
H
I
P
I
N
I
R
E
L
A
N
D
2
0
1
4
71
E
N
T
R
E
P
R
E
N
E
U
R
S
H
I
P
I
N
I
R
E
L
A
N
D
2
0
1
4
TABLE F - WORK AND HOUSEHOLD INCOME: EARLY STAGE ENTREPRENEURS
Early stage Early stage Early stage Early stage Early stage Early stage
entrepreneurs entrepreneurs entrepreneurs entrepreneurs entrepreneurs entrepreneurs
Not in Students Household income Household income Household income
Employed employment or retired in lowest third in middle third in highest third
population population population of population of population of population
% % % % % %
Europe (EU and EFTA)
Austria 9.8 2.3 1.4 8.9 7.0 11.4
Belgium 6.9 4.0 1.0 4.0 4.9 6.7
Croatia 8.3 6.4 1.5 4.3 6.9 11.8
Denmark 5.9 1.9 1.8 5.2 5.3 6.9
Estonia 6.5 2.7 1.4 5.4 8.3 13.8
Finland 6.8 2.4 1.3 4.0 3.6 7.8
France 7.0 1.6 1.1 3.8 6.3 10.1
Germany 5.7 6.6 2.0 4.3 6.2 7.2
Greece 12.2 2.5 0.6 7.3 10.1 na
Hungary 9.3 3.0 1.2 8.3 8.2 13.0
Ireland 7.4 1.8 1.9 6.7 7.1 6.9
Italy 5.9 1.1 1.1 4.9 4.0 4.8
Lithuania 9.3 2.2 1.6 6.1 12.1 15.3
Luxembourg 7.7 4.7 2.2 7.9 8.0 7.1
Netherlands 10.8 3.9 1.2 9.6 9.5 9.9
Norway* 6.5 na na 3.4 4.8 11.0
Poland 11.5 2.5 1.2 4.8 11.2 12.6
Portugal 12.6 4.5 2.3 8.3 11.5 10.9
Romania 13.9 4.0 2.5 5.0 11.4 17.5
Slovakia 12.1 4.0 1.7 6.2 11.2 15.1
Slovenia 8.1 2.8 2.4 5.7 5.3 9.2
Spain 6.9 2.7 0.6 4.8 5.1 6.2
Sweden 7.2 1.2 2.7 6.5 5.0 8.7
Switzerland* 8.2 1.8 0.5 4.0 7.7 8.0
United Kingdom 12.6 3.7 5.1 9.9 11.4 11.8
European average 8.8 3.1 1.7 6.0 7.7 10.2
North America
Canada 14.2 3.9 3.9 12.9 13.6 13.9
United States 15.9 4.5 2.6 11.6 14.6 16.7
Asia & Oceania
Australia 15.2 4.3 3.4 12.2 12.7 15.7
Japan 4.1 2.1 1.1 3.9 2.9 5.8
Singapore 12.8 3.7 3.8 6.9 12.6 15.5
Taiwan 10.7 1.7 0.5 5.7 8.2 15.6
* EFTA
70
E
N
T
R
E
P
R
E
N
E
U
R
S
H
I
P
I
N
I
R
E
L
A
N
D
2
0
1
4
71
E
N
T
R
E
P
R
E
N
E
U
R
S
H
I
P
I
N
I
R
E
L
A
N
D
2
0
1
4
TABLE G - MOTIVES: EARLY STAGE ENTREPRENEURS
Early stage Early stage
entrepreneurs entrepreneurs
Motivated by Motivated by Motive: Motive: Motive: Motive:
opportunity necessity Independence increase income maintain income Other
% % % % % %
Europe (EU and EFTA)
Austria 88 12 56 19 10 16
Belgium 67 33 45 40 12 4
Croatia 52 48 32 36 25 7
Denmark 94 6 57 26 8 9
Estonia 83 17 64 30 3 3
Finland 84 16 52 28 13 7
France 84 16 49 42 6 4
Germany 77 23 66 23 9 2
Greece 64 36 22 56 22 0
Hungary 66 34 38 36 20 5
Ireland 70 30 40 38 20 2
Italy 85 15 47 43 6 3
Lithuania 80 20 52 29 10 9
Luxembourg 88 12 68 17 8 8
Netherlands 84 16 57 12 16 15
Norway* 96 4 51 32 1 15
Poland 62 38 61 31 7 1
Portugal 72 28 27 61 12 0
Romania 71 29 33 55 8 4
Slovakia 66 34 60 31 4 5
Slovenia 74 26 60 29 8 3
Spain 69 31 39 36 17 8
Sweden 91 9 33 22 3 42
Switzerland* 84 16 70 17 8 5
United Kingdom 87 13 49 39 10 2
European average 77 23 49 33 11 7
North America
Canada 83 17 46 39 10 5
United States 86 14 43 41 9 7
Asia & Oceania
Australia 83 17 40 39 14 7
Japan 80 20 43 54 2 2
Singapore 88 12 46 40 10 5
Taiwan 87 13 46 53 1 0
* EFTA
Opportunity motivated early stage entrepreneurs
72
E
N
T
R
E
P
R
E
N
E
U
R
S
H
I
P
I
N
I
R
E
L
A
N
D
2
0
1
4
73
E
N
T
R
E
P
R
E
N
E
U
R
S
H
I
P
I
N
I
R
E
L
A
N
D
2
0
1
4
TABLE H - EDUCATION LEVEL: EARLY STAGE ENTREPRENEURS
Early stage Early stage Early stage Early stage Early stage
entrepreneurs entrepreneurs entrepreneurs entrepreneurs entrepreneurs with
Some secondary Secondary school Post-secondary Graduate education post-secondary
education as as highest as highest as highest education
highest quali?cation quali?cation quali?cation quali?cation Early stage
Adult population Adult population Adult population Adult population entrepreneurs
% % % % %
Europe (EU and EFTA)
Austria 10 7 14 15 29
Belgium 3 4 6 11 68
Croatia 4 8 12 8 24
Denmark 3 7 5 7 70
Estonia 8 8 13 12 45
Finland 5 5 7 7 39
France 3 6 5 9 76
Germany 4 5 7 na 41
Greece 3 6 12 12 64
Hungary 7 9 11 12 50
Ireland 5 4 8 6 78
Italy 4 3 na 7 24
Lithuania 2 9 10 15 76
Luxembourg 3 5 9 13 67
Netherlands 8 9 12 na 36
Norway* na 6 6 na 30
Poland 2 8 13 15 48
Portugal 6 11 13 20 44
Romania 4 9 14 na 36
Slovakia 7 12 12 14 39
Slovenia 4 5 8 18 55
Spain 4 5 7 12 47
Sweden 5 6 7 26 57
Switzerland* 8 5 9 32 49
United Kingdom 10 10 11 13 54
European average 5 7 10 13 50
North America
Canada 14 9 13 17 74
United States 14 12 15 16 65
Asia & Oceania
Australia 11 10 14 21 70
Japan 4 2 5 5 70
Singapore 6 9 12 16 73
Taiwan 4 6 10 11 74
* EFTA
72
E
N
T
R
E
P
R
E
N
E
U
R
S
H
I
P
I
N
I
R
E
L
A
N
D
2
0
1
4
73
E
N
T
R
E
P
R
E
N
E
U
R
S
H
I
P
I
N
I
R
E
L
A
N
D
2
0
1
4
T
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a
r
l
y
s
t
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g
e
E
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r
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N
T
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N
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R
S
H
I
P
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N
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R
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L
A
N
D
2
0
1
4
TABLE J - GROWTH ASPIRATIONS: EARLY STAGE ENTREPRENEURS
Early stage Early stage Any jobs Expect 10 or Expect 20 or
entrepreneurs entrepreneurs now or any more jobs more jobs
with any jobs expect 20 expected within the within the
now or any or more within the next 5 years next 5 years
jobs expected jobs in next 5 years
in next 5 years next 5 years
Adult Adult Early stage Early stage Early stage
population population entrepreneurs entrepreneurs entrepreneurs
% % % % %
Europe (EU and EFTA)
Austria 5.2 0.5 60 10 5
Belgium 4.0 0.5 74 12 9
Croatia 5.9 1.2 74 28 15
Denmark 3.9 0.3 72 17 6
Estonia 7.2 0.6 76 14 7
Finland 3.2 0.7 56 13 12
France 4.1 0.7 78 17 14
Germany 3.9 0.7 74 14 13
Greece 5.9 0.3 75 8 3
Hungary 8.5 1.8 91 25 19
Ireland 4.6 0.8 70 27 12
Italy 3.2 0.2 73 8 5
Lithuania 8.9 1.4 79 24 12
Luxembourg 4.8 0.3 68 13 4
Netherlands 5.4 0.6 57 8 7
Norway* 3.3 0.3 58 6 5
Poland 7.0 1.2 76 23 13
Portugal 6.9 0.9 70 12 9
Romania 9.1 2.3 80 32 20
Slovakia 8.0 2.0 73 27 18
Slovenia 4.7 0.8 75 17 13
Spain 3.5 0.2 63 11 4
Sweden 4.2 0.8 62 14 12
Switzerland* 5.1 0.3 72 10 5
United Kingdom 6.1 1.3 57 19 12
European average 5.5 0.8 71 16 11
North America
Canada 10.1 1.8 77 19 14
United States 11.5 2.9 83 27 21
Asia & Oceania
Australia 9.6 1.4 74 20 11
Japan 2.5 0.7 66 26 18
Singapore 8.7 2.1 80 31 19
Taiwan 7.0 2.3 82 37 27
* EFTA
74
E
N
T
R
E
P
R
E
N
E
U
R
S
H
I
P
I
N
I
R
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L
A
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D
2
0
1
4
75
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N
T
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P
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N
E
U
R
S
H
I
P
I
N
I
R
E
L
A
N
D
2
0
1
4
TABLE K - INTERNATIONAL ORIENTATION: EARLY STAGE ENTREPRENEURS
Early Stage Entrepreneurs No customers 1-25% 26-75% 76-100%
entrepreneurs with more outside customers customers customers
with more than than 50% of country outside country outside country outside country
50% of customers customers
outside country outside country
Adult Early stage Early stage Early stage Early stage Early stage
Population entrepreneurs entrepreneurs entrepreneurs entrepreneurs entrepreneurs
% % % % % %
Europe (EU and EFTA)
Austria 1.4 17 34 41 14 10
Belgium 1.2 22 28 39 17 16
Croatia 2.4 31 21 41 15 23
Denmark 0.5 9 71 16 7 6
Estonia 1.2 13 29 47 14 10
Finland 0.6 11 55 32 3 10
France 0.9 17 36 42 10 12
Germany 1.0 18 43 35 13 8
Greece 1.1 14 42 41 7 11
Hungary 1.5 16 33 44 16 8
Ireland 1.1 18 40 36 14 10
Italy 0.5 12 50 29 15 6
Lithuania 1.6 14 25 52 14 9
Luxembourg 1.8 25 4 54 25 17
Netherlands 0.9 9 49 35 9 7
Norway* 0.3 5 67 23 6 4
Poland 0.8 9 17 69 9 6
Portugal 1.3 13 24 54 12 10
Romania 2.0 18 24 47 21 9
Slovakia 1.3 11 14 66 13 6
Slovenia 1.3 21 29 40 20 12
Spain 0.5 9 68 19 7 6
Sweden 1.3 20 34 39 13 14
Switzerland* 1.2 17 29 40 21 10
United Kingdom 1.2 11 60 25 9 6
European average 1.2 15 37 40 13 10
North America
Canada 1.8 14 17 64 12 7
United States 1.3 10 16 69 9 5
Asia & Oceania
Australia 1.1 9 17 72 8 4
Japan 0.3 7 74 15 10 1
Singapore 3.0 28 24 39 22 15
Taiwan 1.1 12 53 31 8 9
* EFTA
76
E
N
T
R
E
P
R
E
N
E
U
R
S
H
I
P
I
N
I
R
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L
A
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D
2
0
1
4
77
E
N
T
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P
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N
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S
H
I
P
I
N
I
R
E
L
A
N
D
2
0
1
4
TABLE L - SECTOR OF ACTIVITY: EARLY STAGE ENTREPRENEURS
Extractive Transformative Business Consumer High or medium
sectors sectors
1
orientated orientated technology
service sectors
2
service sectors
3
sectors only
4
Early stage Early stage Early stage Early stage Early stage
entrepreneurs entrepreneurs entrepreneurs entrepreneurs entrepreneurs
% % % % %
Europe (EU and EFTA)
Austria 4 18 35 44 8
Belgium 9 11 29 50 2
Croatia 10 23 31 36 5
Denmark 4 19 43 34 17
Estonia 7 31 30 32 3
Finland 13 25 24 38 3
France 1 29 31 38 11
Germany 1 17 37 45 7
Greece 3 29 14 54 5
Hungary 15 27 22 35 7
Ireland 7 29 34 30 9
Italy 9 18 23 50 6
Lithuania 10 29 17 45 4
Luxembourg 2 11 40 47 8
Netherlands 2 27 30 41 6
Norway* 12 18 36 35 8
Poland 2 42 24 32 4
Portugal 5 23 22 50 3
Romania 27 31 21 21 7
Slovakia 5 35 25 35 6
Slovenia 11 25 33 31 8
Spain 4 15 29 52 9
Sweden 10 12 47 31 18
Switzerland* 6 16 32 46 8
United Kingdom 0 27 27 45 9
European average 7 23 30 40 7
North America
Canada 8 21 35 36 6
United States 3 19 36 43 9
Asia & Oceania
Australia 6 24 33 36 11
Japan 1 25 25 49 7
Singapore 0 15 23 61 6
Taiwan 4 23 19 54 4
* EFTA
1
Includes construction, manufacturing, transport, wholesale, utilities.
2
Includes ?nance, insurance, real estate, all business services.
3
Includes retail, motor, lodgings, restaurants, personal services, health, education, recreation.
4
OECD classi?cations of sectors.
76
E
N
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2
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4
77
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s
%
%
%
%
%
%
%
%
%
E
u
r
o
p
e
(
E
U
a
n
d
E
F
T
A
)
A
u
s
t
r
i
a
5
3
3
7
1
1
4
7
4
6
7
7
9
1
5
6
B
e
l
g
i
u
m
5
2
3
3
1
4
4
9
4
5
6
6
2
2
6
1
2
C
r
o
a
t
i
a
7
3
1
9
8
4
1
5
1
8
5
9
2
4
1
7
D
e
n
m
a
r
k
4
3
3
1
2
6
3
9
4
2
1
9
8
0
1
6
4
E
s
t
o
n
i
a
5
3
3
1
1
6
4
3
4
1
1
6
6
0
2
2
1
8
F
i
n
l
a
n
d
5
7
3
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1
3
6
7
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5
8
7
8
1
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5
F
r
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n
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e
4
9
2
7
2
4
3
9
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0
2
2
5
5
2
3
2
2
G
e
r
m
a
n
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6
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4
8
4
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5
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6
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6
8
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r
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e
6
3
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4
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3
4
9
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1
9
6
2
1
7
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1
H
u
n
g
a
r
y
5
9
3
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6
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1
1
0
9
I
r
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l
a
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d
5
0
3
5
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5
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4
1
1
4
6
7
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2
1
0
I
t
a
l
y
3
1
3
8
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1
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1
0
5
9
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L
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t
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2
9
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1
6
N
e
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6
0
1
6
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4
4
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2
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1
1
N
o
r
w
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y
*
7
3
1
7
1
0
5
1
3
2
1
7
8
7
8
5
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l
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d
3
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1
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2
7
P
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r
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6
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3
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1
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8
2
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1
5
R
o
m
a
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a
6
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4
2
9
7
5
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2
6
1
6
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l
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v
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3
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4
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1
4
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2
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4
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l
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v
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a
4
2
3
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2
1
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9
4
2
9
7
5
1
5
1
0
S
p
a
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n
6
1
2
5
1
5
5
3
3
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1
1
6
7
2
2
1
2
S
w
e
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5
5
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6
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6
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1
3
S
w
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t
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*
5
6
2
8
1
6
5
2
3
9
9
7
7
1
4
8
U
n
i
t
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d
K
i
n
g
d
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m
6
9
2
2
9
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3
9
9
6
7
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6
8
E
u
r
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a
n
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r
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5
4
3
1
1
6
5
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3
9
1
1
6
7
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2
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o
r
t
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A
m
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c
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C
a
n
a
d
a
5
1
3
0
1
8
4
2
4
3
1
5
7
3
2
0
7
U
n
i
t
e
d
S
t
a
t
e
s
5
2
3
0
1
8
4
2
4
2
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6
6
9
2
3
9
A
s
i
a
&
O
c
e
a
n
i
a
A
u
s
t
r
a
l
i
a
5
8
2
8
1
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4
7
4
2
1
0
7
4
2
1
5
J
a
p
a
n
5
3
3
9
8
6
4
3
0
6
6
8
1
9
1
3
S
i
n
g
a
p
o
r
e
5
1
3
2
1
7
6
0
3
2
8
4
8
3
3
1
9
T
a
i
w
a
n
2
9
2
0
5
1
6
6
2
1
1
4
6
8
1
6
1
6
*
E
F
T
A
78
E
N
T
R
E
P
R
E
N
E
U
R
S
H
I
P
I
N
I
R
E
L
A
N
D
2
0
1
4
79
E
N
T
R
E
P
R
E
N
E
U
R
S
H
I
P
I
N
I
R
E
L
A
N
D
2
0
1
4
TABLE N - RATES OF ENTREPRENEURSHIP BY GENDER
Early stage Early stage Owner managers Owner managers
entrepreneurs entrepreneurs of established of established
businesses businesses
Male adult Female adult Rate as a ratio Male adult Female adult Rate as a ratio
population population Men : Women population population Men : Women
% % % %
Europe (EU and EFTA)
Austria 10.4 7.1 1.5 : 1 12.9 6.9 1.9 : 1
Belgium 7.6 3.1 2.4 : 1 4.8 2.3 2.1 : 1
Croatia 11.3 4.7 2.4 : 1 5.0 2.3 2.2 : 1
Denmark 7.1 3.8 1.9 : 1 7.5 2.7 2.8 : 1
Estonia 11.2 7.7 1.5 : 1 7.0 4.4 1.6 : 1
Finland 6.6 4.6 1.4 : 1 9.2 4.0 2.3 : 1
France 6.7 4.0 1.7 : 1 4.2 1.7 2.5 : 1
Germany 6.5 4.0 1.6 : 1 7.1 3.1 2.3 : 1
Greece 9.9 5.8 1.7 : 1 18.0 7.7 2.3 : 1
Hungary 13.5 5.3 2.5 : 1 11.0 5.0 2.2 : 1
Ireland 8.9 4.2 2.1 : 1 13.8 6.1 2.3 : 1
Italy 5.7 3.1 1.8 : 1 5.7 2.9 2.0 : 1
Lithuania 16.2 6.8 2.4 : 1 11.6 4.3 2.7 : 1
Luxembourg 8.9 5.3 1.7 : 1 4.3 3.0 1.4 : 1
Netherlands 11.6 7.3 1.6 : 1 12.1 7.1 1.7 : 1
Norway* 7.3 4.0 1.8 : 1 7.0 3.7 1.9 : 1
Poland 12.5 6.0 2.1 : 1 10.0 4.6 2.2 : 1
Portugal 11.7 8.4 1.4 : 1 10.0 5.3 1.9 : 1
Romania 16.0 6.6 2.4 : 1 10.1 5.1 2.0 : 1
Slovakia 14.4 7.4 1.9 : 1 11.7 3.9 3.0 : 1
Slovenia 8.3 4.3 1.9 : 1 6.6 2.8 2.4 : 1
Spain 6.4 4.6 1.4 : 1 8.0 6.0 1.3 : 1
Sweden 9.5 3.8 2.5 : 1 8.0 4.9 1.6 : 1
Switzerland* 7.0 7.2 1.0 : 1 10.0 8.1 1.2 : 1
United Kingdom 13.8 7.5 1.8 : 1 8.8 4.2 2.1 : 1
European average 10.0 5.5 1.8 : 1 9.0 4.5 2.0 : 1
North America
Canada 16.2 9.9 1.6 : 1 11.0 7.8 1.4 : 1
United States 16.5 11.2 1.5 : 1 8.8 5.2 1.7 : 1
Asia & Oceania
Australia 16.1 10.1 1.6 : 1 10.3 9.0 1.2 : 1
Japan 6.1 1.5 4.1 : 1 9.8 4.5 2.2 : 1
Singapore 14.8 7.2 2.1 : 1 3.7 2.1 1.8 : 1
Taiwan 10.2 6.8 1.5 : 1 15.0 9.4 1.6 : 1
* EFTA
78
E
N
T
R
E
P
R
E
N
E
U
R
S
H
I
P
I
N
I
R
E
L
A
N
D
2
0
1
4
79
E
N
T
R
E
P
R
E
N
E
U
R
S
H
I
P
I
N
I
R
E
L
A
N
D
2
0
1
4
TABLE O - MOTIVES BY GENDER: EARLY STAGE ENTREPRENEURS
Early stage Early stage Early stage Early stage
entrepreneurs entrepreneurs entrepreneurs entrepreneurs
motivated by motivated by motivated by motivated by
opportunity opportunity necessity necessity
Male Female Male Female
% % % %
Europe (EU and EFTA)
Austria 88 89 12 11
Belgium 69 62 31 38
Croatia 53 51 47 49
Denmark 94 95 6 5
Estonia 85 81 15 19
Finland 85 82 15 18
France 88 76 12 24
Germany 79 73 21 27
Greece 69 55 31 45
Hungary 70 57 30 43
Ireland 74 61 26 39
Italy 82 91 18 9
Lithuania 83 73 17 27
Luxembourg 88 88 12 12
Netherlands 83 85 17 15
Norway* 100 89 0 11
Poland 62 61 38 39
Portugal 76 68 24 32
Romania 71 69 29 31
Slovakia 67 65 33 35
Slovenia 77 66 23 34
Spain 73 64 27 36
Sweden 93 88 7 12
Switzerland* 88 80 12 20
United Kingdom 85 90 15 10
European average 78 74 22 26
North America
Canada 86 78 14 22
United States 88 83 12 17
Asia & Oceania
Australia 83 84 17 16
Japan 82 75 18 25
Singapore 88 88 12 12
Taiwan 88 85 12 15
* EFTA
80
E
N
T
R
E
P
R
E
N
E
U
R
S
H
I
P
I
N
I
R
E
L
A
N
D
2
0
1
4
81
E
N
T
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P
R
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N
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N
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2
0
1
4
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A
u
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a
3
8
3
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2
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C
r
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2
9
2
1
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1
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4
3
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4
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8
D
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3
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E
s
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4
5
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5
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3
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7
F
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d
4
7
3
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4
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3
4
0
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9
F
r
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3
8
3
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2
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6
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2
7
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9
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3
2
2
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5
1
3
1
4
3
5
3
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4
3
2
9
3
8
2
9
5
8
3
7
3
7
4
8
I
t
a
l
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2
7
2
2
3
0
2
3
3
4
2
9
5
1
6
3
L
i
t
h
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a
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a
3
7
2
8
3
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9
4
3
2
4
3
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9
L
u
x
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m
b
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r
g
3
8
3
1
4
7
3
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4
4
3
1
4
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5
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N
e
t
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l
a
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d
s
3
8
2
9
5
2
3
9
5
5
3
4
3
5
4
3
N
o
r
w
a
y
*
3
7
2
7
6
8
5
8
3
8
2
3
3
1
3
5
P
o
l
a
n
d
4
2
3
6
3
0
3
3
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0
3
9
5
5
6
2
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t
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3
2
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2
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2
0
5
4
4
0
4
3
5
2
R
o
m
a
n
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a
3
4
2
3
3
3
3
2
5
8
3
9
4
1
5
5
S
l
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v
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k
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a
4
6
3
9
2
6
2
1
6
6
4
3
3
9
5
4
S
l
o
v
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n
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a
4
4
3
6
2
1
1
4
5
7
4
0
3
4
4
3
S
p
a
i
n
3
9
3
2
2
6
1
9
5
3
4
3
4
3
5
0
S
w
e
d
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n
4
0
3
5
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1
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4
6
2
8
3
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4
6
S
w
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l
a
n
d
*
3
3
2
4
4
6
4
1
5
1
3
2
2
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4
0
U
n
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t
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d
K
i
n
g
d
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m
3
4
2
8
4
4
3
8
5
5
3
8
3
7
3
8
E
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v
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3
6
2
9
3
9
3
4
5
0
3
3
4
1
5
1
N
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r
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h
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1
4
TABLE R - SECTOR OF ACTIVITY: OWNER MANAGERS
Extractive Transformative Business Consumer High or medium
sectors sectors
1
orientated orientated technology
service sectors
2
service sectors
3
sectors only
4
Owner managers Owner managers Owner managers Owner managers Owner managers
of established of established of established of established of established
businesses businesses businesses businesses businesses
% % % % %
Europe (EU and EFTA)
Austria 11 27 35 27 8
Belgium 10 26 32 32 5
Croatia 24 33 23 20 4
Denmark 18 25 30 28 11
Estonia 15 28 28 29 2
Finland 27 24 19 30 5
France 32 28 24 16 na
Germany 6 20 34 40 10
Greece 6 39 14 42 4
Hungary 9 34 29 28 6
Ireland 27 29 26 18 7
Italy 13 26 26 35 3
Lithuania 20 39 12 29 4
Luxembourg 15 14 36 35 6
Netherlands 11 26 25 38 3
Norway* 18 27 27 28 7
Poland 7 41 22 30 6
Portugal 7 33 19 41 1
Romania 13 52 15 20 4
Slovakia 6 41 30 22 3
Slovenia 5 39 30 26 12
Spain 10 26 22 43 7
Sweden 20 21 36 24 9
Switzerland* 13 20 28 39 6
United Kingdom 7 27 39 26 11
European average 14 30 26 30 6
North America
Canada 8 17 46 29 11
United States 8 18 46 28 6
Asia & Oceania
Australia 10 36 28 26 7
Japan 4 39 24 32 6
Singapore 2 31 34 34 6
Taiwan 2 33 9 56 5
* EFTA
1
Includes construction, manufacturing, transport, wholesale, utilities.
2
Includes ?nance, insurance, real estate, all business services.
3
Includes retail, motor, lodgings, restaurants, personal services, health, education, recreation.
4
OECD classi?cations of sectors.
82
E
N
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83
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4
TABLE V - ‘CULTURE’ PERCEPTIONS: ADULT POPULATION
Entrepreneurship Success at Supportive media
is a good entrepreneurship coverage of
career choice has high status entrepreneurs
Adult population Adult population Adult population
% % %
Europe (EU and EFTA)
Austria na na na
Belgium 52 52 51
Croatia 63 47 40
Denmark na na na
Estonia 56 65 43
Finland 41 84 67
France 59 70 39
Germany 52 79 51
Greece 58 66 46
Hungary 47 72 33
Ireland 49 77 76
Italy 65 72 48
Lithuania 69 58 55
Luxembourg 41 68 44
Netherlands 79 68 56
Norway* 58 83 na
Poland 63 56 55
Portugal 62 63 70
Romania 74 75 71
Slovakia 45 58 53
Slovenia 53 72 58
Spain 54 49 46
Sweden 52 71 60
Switzerland* 42 66 50
United Kingdom 60 75 58
European average 56 67 53
North America
Canada 57 70 68
United States 65 77 76
Asia & Oceania
Australia 53 67 73
Japan 31 56 59
Singapore 52 63 79
Taiwan 75 63 84
* EFTA
86
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N
T
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S
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87
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S
H
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P
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N
I
R
E
L
A
N
D
2
0
1
4
TABLE W - PERSONAL CONTEXT: ADULT POPULATION
Know a recent Opportunities Skills & Knowledge Fear of failure
entrepreneur
1
in local area
2
to start-up prevent start-up
Adult population Adult population Adult population Adult population
% % % %
Europe (EU and EFTA)
Austria 35 44 49 44
Belgium 19 36 30 50
Croatia 25 18 46 44
Denmark 32 60 35 41
Estonia 42 49 42 50
Finland 43 42 35 42
France 36 28 35 43
Germany 24 38 36 46
Greece 26 20 46 71
Hungary 29 23 41 48
Ireland 36 33 47 42
Italy 24 27 31 57
Lithuania 32 32 33 49
Luxembourg 35 43 38 51
Netherlands 33 46 44 39
Norway* 32 63 31 33
Poland 39 31 54 58
Portugal 29 23 47 48
Romania 29 32 48 48
Slovakia 43 24 54 46
Slovenia 40 17 49 39
Spain 36 23 48 47
Sweden 37 70 37 41
Switzerland* 29 44 42 34
United Kingdom 31 41 46 38
European average 33 36 42 46
North America
Canada 31 56 49 39
United States 29 51 53 33
Asia & Oceania
Australia 28 46 46 44
Japan 16 7 12 44
Singapore 19 17 21 39
Taiwan 36 33 29 40
* EFTA
1
Knows someone who has started a business in the past 2 years.
2
Opportunities to start a business in the next six months (July - December 2014).
88
E
N
T
R
E
P
R
E
N
E
U
R
S
H
I
P
I
N
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R
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L
A
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D
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0
1
4
89
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N
T
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U
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S
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N
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R
E
L
A
N
D
2
0
1
4
TABLE X - INFORMAL INVESTORS: RATES AND AMOUNTS
Informal Total invested in
investors
1
past 3 years
Adult population
% Euros
2
Europe (EU and EFTA)
Austria 5.8 5,000
Belgium 3.2 32,600
Croatia 2.7 34,800
Denmark 3.4 113,400
Estonia 6.8 9,700
Finland 3.1 21,200
France 3.4 42,400
Germany 3.8 33,400
Greece 3.5 25,400
Hungary 4.2 5,700
Ireland 3.4 40,500
Italy 2.8 34,700
Lithuania 7.1 26,600
Luxembourg 6.1 43,200
Netherlands 3.3 17,600
Norway* 4.2 43,400
Poland 3.7 30,500
Portugal 2.2 11,800
Romania 4.6 52,900
Slovakia 8.6 19,300
Slovenia 4.7 21,900
Spain 3.7 18,300
Sweden 5.6 8,200
Switzerland* 4.8 55,300
United Kingdom 2.1 25,700
European average 4.3 30,900
North America
Canada 5.4 38,400
United States 6.2 37,200
Asia & Oceania
Australia 5.1 32,400
Japan 0.9 77,500
Singapore 3.9 13,700
Taiwan 6.2 25,100
* EFTA
1
Provided funds for a new business in the past three years.
2
Exchange rate US$1.27 to Euro.
88
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N
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R
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89
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4
89
The Global Entrepreneurship Monitor (GEM) began in 1999 as a joint project between Babson College
(USA) and London Business School (UK). The aim was to consider why some countries are more
‘entrepreneurial’ than others. 16 years on, GEM is the world’s foremost study of entrepreneurship,
providing unique measures of the involvement of individuals in entrepreneurial activity and is the richest
resource of information on the subject, publishing a range of global, national and ‘special topic’ reports
on an annual basis.
The support of Enterprise Ireland, with the support of the Department of Jobs, Enterprise, and
Innovation, made possible the inclusion of Ireland in the GEM research cycle in 2014.
Through a vast, centrally coordinated, internationally executed data collection effort, GEM is able to
provide high quality information and comprehensive reports, which greatly enhance the understanding
of the entrepreneurial phenomenon.
In numbers, GEM at global level is:
• 16 years of data
• 200,000+ interviews a year
• 100+ countries
• 500+ specialists in entrepreneurship research
• 300+ academic and research institutions
• 200+ funding institutions
In each economy, GEM looks at two elements:
• The entrepreneurial behaviour and attitudes of individuals
• The national context and how that impacts entrepreneurship
The information gained, carefully analysed by local GEM researchers, allows a deep understanding of
the environment for entrepreneurship and provides valuable insights.
This appendix contains information on GEM methodology focusing on the annual GEM research cycle,
which involves an adult population survey and a key informant survey, and explains the de?nitions
used in GEM.
APPENDIX 1:
GEM METHODOLOGY
90
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P
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E
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U
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S
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A
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2
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91
E
N
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R
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P
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4
ADULT POPULATION SURVEY
The GEM model is primarily based on an adult population survey (APS). Professional survey research
?rms in each country administer the APS, which are based on a random sample of approximately
2,000 adults.
The main questions in the APS are identical in each country. For the purposes of the research,
GEM uses a very comprehensive de?nition of entrepreneurship, which encompasses any type of
entrepreneurial initiative, including self-employment.
Sampling procedures vary somewhat, but all of the survey ?rms are able to provide samples that
are, when properly weighted, representative of the adult population in each country in terms of key
demographics and geographical coverage. In Ireland the survey is con?ned to those aged 18 to 64
inclusive.
Telephone interviews are utilised in Ireland, as in most of the developed countries.
64
In 2014 60% of the
calls were placed to landlines and 40% to mobile phones. As GEM concentrates on the entrepreneurs
themselves rather than their businesses, the respondents are interviewed at home rather than in their
workplace.
The manner of the running of the APS across all countries is coordinated by the Global Entrepreneurship
Research Association (GERA). GERA also combines the outputs from the individual country surveys
to produce a master dataset. The analysis and interpretation of this data at national level is the
responsibility of the national team.
KEY INFORMANT SURVEY
Key informants are experts and entrepreneurs. At least 25% of the key informants are entrepreneurs.
65
Expert informants are chosen by reputation and referrals to represent the nine entrepreneurial
framework dimensions in the GEM model. These are Finance, Government Policies, Government
Programmes, Education and Training, R&D Transfer, Commercial Infrastructure, Internal Market
Openness, Physical Infrastructure and Culture and Social Norms.
The key informants are asked to complete a detailed questionnaire. The questionnaire used is identical
in all countries involved in the survey. The questionnaire is similar to the adult population survey and
also includes an additional range of topics relating to the entrepreneurial framework conditions, the
entrepreneurial capacity and opportunity recognition perceptiveness of the adult population, as well
as other socio-demographic items.
In Ireland, there are approximately 40 on the key informant panel and new members are added to the
panel as required each year.
64
A random telephone survey was carried out in June 2014.
65
In Ireland 58% of the key informants are entrepreneurs.
90
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A
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2
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1
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91
E
N
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P
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GEM DEFINITIONS
Aspiring entrepreneurs
Aspiring entrepreneurs are those who expect to start a business in the next three years. The rate is for
those in the adult population aged 18-64 years inclusive and excludes those who are currently active
as entrepreneurs.
Nascent entrepreneurs
Nascent entrepreneurs are those actively planning a new venture. These entrepreneurs have done
something during the previous twelve months to help start a new business, that he or she will at least
part own. Activities such as organising the start-up team, looking for equipment, saving money for
the start-up, or writing a business plan would all be considered as active commitments to starting
a business. Wages or salaries will not have been paid for more than three months in respect of the
new business. Many of these people are still in fulltime employment. The rate is for those in the adult
population aged 18-64 years inclusive.
New business owners
New business owners are entrepreneurs who at least part own and manage a new business that
is between 4 and 42 months old and have not paid salaries for longer than this period. These new
ventures are in the ?rst 42 months after the new venture has been set up. The rate is for those in the
adult population aged 18-64 years inclusive.
Total early stage entrepreneurial activity (TEA rate)
As its name implies, total early stage entrepreneurial activity refers to the total rate of early stage
entrepreneurial activity among the adult population aged 18-64 years inclusive. In some instances, this
rate is less than the combined percentages for nascent and new business owners. This is because,
in circumstances where respondents qualify as both a nascent and a new business owner, they are
counted only once.
Owner managers of established businesses
In addition to those people who are currently involved in the early stages of a business, there are
also many people who have set up businesses that they have continued to own and manage. These
people are included in the established business owner index which captures the percentage of people
in the population that have set up businesses, which they have continued to own and manage and
which has paid wages or salaries for more than 42 months. The rate is for those in the adult population
aged 18-64 years inclusive.
Entrepreneurial employee activities (intrapreneurs)
GEM operationalises entrepreneurial employee activity as a situation in which employees develop new
products/ services, or set up a new business entity, but not—for instance—work on optimising internal
operations of a ?rm. Respondents participating in the GEM survey were asked if they, in the past three
years, were actively involved in and had a leading role in either idea development for a new activity
or in preparation and implementation of a new activity. GEM collects data for measuring intensity of
entrepreneurial employee activity.
92
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N
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P
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N
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U
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H
I
P
I
N
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A
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D
2
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1
4
93
E
N
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THE ENTREPRENEURSHIP PROCESS
GEM describes entrepreneurial activity as a process and measures different phases of this process
from conception through ?rm birth to persistence.
66
66
Figure 3 illustrates the entrepreneurial process with reference to these de?nitions.
Source: Adapted from Global Entrepreneurship Monitor 2014 Global Report, Slavica Singer, José Ernesto Amorós, Daniel Moska, page 23
FIGURE 3: THE ENTREPRENEURSHIP PROCESS & GEM OPERATIONAL DEFINITIONS
Discontinuation of Business
Owner Manager of an
Established Business
(more than 3.5 years old)
Potential Entrepreneur:
Opportunities,
Knowledge and Skills
Conception Firm Birth
Early-stage Entrepreneurship Pro?le
Socio-demographics
> Sex
> Age
Impact
> Business growth
> Innovation
> Internationalization
Industry
> Sector
Persistence
Nascent Entrepreneur:
Involved in Setting
Up a Business
New Business Owner
(up to 3.5 years old)
TOTAL EARLY STAGE ENTREPRENEURIAL ACTIVITY (TEA)
92
E
N
T
R
E
P
R
E
N
E
U
R
S
H
I
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A
N
D
2
0
1
4
93
E
N
T
R
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E
U
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I
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4
APPENDIX 2:
GLOBAL RESULTS
FIGURE 4: GEM’S GLOBAL COVERAGE: MAP OF ECONOMIES INCLUDED IN GEM 2014
AFRICA
Angola
Botswana
Burkina Faso
Cameroon
South Africa
Uganda
ASIA & OCEANIA
Australia
China
India
Indonesia
Iran
Japan
Kazakhstan
Malaysia
Philippines
Qatar
Singapore
Taiwan
Thailand
Vietnam
LATIN AMERICA &
CARIBBEAN
Argentina
Barbados
Belize
Bolivia
Brazil
Chile
Colombia
Costa Rica
Ecuador
El Salvador
Guatemala
Jamaica
Mexico
Panama
Peru
Puerto Rico
Suriname
Trinidad & Tobago
Uruguay
EUROPEAN UNION
Austria
Belgium
Croatia
Denmark
Estonia
Finland
France
Germany
Greece
Hungary
Ireland
Italy
Lithuania
Luxembourg
Netherlands
Poland
Portugal
Romania
Slovakia
Slovenia
Spain
Sweden
United Kingdom
NON-EUROPEAN
UNION
Bosnia and
Herzegovina
Georgia
Kosovo
Norway
Russia
Switzerland
NORTH AMERICA
Canada
United States
94
E
N
T
R
E
P
R
E
N
E
U
R
S
H
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A
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1
4
95
E
N
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ENTREPRENEURIAL ACTIVITY IN GEM ECONOMIES IN 2014 BY REGION
Nascent New business Early stage Established Discontinuation
entrepreneurship ownership entrepreneurial business of businesses
rate rate activity (TEA) ownership rate
AFRICA
Angola 9.5 12.4 21.5 6.5 15.1
Botswana 23.1 11.1 32.8 5 15.1
Burkina Faso 12.7 9.7 21.7 17.7 10.8
Cameroon 26.4 13.7 37.4 11.5 17.7
South Africa 3.9 3.2 7 2.7 3.9
Uganda 8.9 28.1 35.5 35.9 21.2
Average (unweighted) 14.1 13 26 13.2 14
ASIA & OCEANIA
Australia 7.6 5.7 13.1 9.8 3.9
China 5.4 10.2 15.5 11.6 1.4
India 4.1 2.5 6.6 3.7 1.2
Indonesia 4.4 10.1 14.2 11.9 4.2
Iran 7.5 8.7 16 10.9 5.7
Japan 2.7 1.3 3.8 7.2 1.1
Kazakhstan 8.1 6.2 13.7 7.4 2.9
Malaysia 1.4 4.6 5.9 8.5 2
Philippines 8.2 10.5 18.4 6.2 12.6
Qatar 11.3 5.4 16.4 3.5 4.8
Singapore 6.4 4.8 11 2.9 2.4
Taiwan 4.4 4.1 8.5 12.2 5.1
Thailand 7.6 16.7 23.3 33.1 4.2
Vietnam 2 13.3 15.3 22.2 3.6
Average (unweighted) 5.8 7.4 13 10.8 3.9
LATIN AMERICA & CARIBBEAN
Argentina 9.5 5.2 14.4 9.1 4.9
Barbados 8.5 4.2 12.7 7.1 3.7
Belize 4.3 3 7.1 3.7 4.7
Bolivia 21.5 7.1 27.4 7.6 6.9
Brazil 3.7 13.8 17.2 17.5 4.1
Chile 16.6 11 26.8 8.8 8.3
Colombia 12.4 6.7 18.5 4.9 5.6
Costa Rica 7.6 3.7 11.3 2.5 4.9
Ecuador 24.5 9.9 32.6 17.7 8.1
El Salvador 11.4 8.7 19.5 12.7 10.8
Guatemala 12 9.2 20.4 7.4 4.4
Jamaica 7.9 11.9 19.3 14.4 6.3
Mexico 12.7 6.4 19 4.5 5.6
Panama 13.1 4.1 17.1 3.4 4.5
Peru 23.1 7.3 28.8 9.2 8
Puerto Rico 8.8 1.3 10 1.3 3.6
Suriname 1.9 0.2 2.1 5.2 0.2
Trinidad & Tobago 7.5 7.4 14.6 8.5 2.8
Uruguay 10.5 5.7 16.1 6.7 4.4
Average (unweighted) 11.4 6.7 17.6 8 5.4
94
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95
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ENTREPRENEURIAL ACTIVITY IN GEM ECONOMIES IN 2014 BY REGION
Nascent New business Early stage Established Discontinuation
entrepreneurship ownership entrepreneurial business of businesses
rate rate activity (TEA) ownership rate
EUROPEAN UNION
Austria 5.8 3.1 8.7 9.9 2.7
Belgium 2.9 2.5 5.4 3.5 2.3
Croatia 6 2 8 3.6 3.8
Denmark 3.1 2.5 5.5 5.1 2.2
Estonia 6.3 3.5 9.4 5.7 2
Finland 3.4 2.3 5.6 6.6 2.3
France 3.7 1.7 5.3 2.9 1.7
Germany 3.1 2.3 5.3 5.2 1.7
Greece 4.6 3.4 7.9 12.8 2.8
Hungary 5.6 3.9 9.3 7.9 3.1
Ireland 4.4 2.5 6.5 9.9 1.9
Italy 3.2 1.3 4.4 4.3 2.1
Lithuania 6.1 5.3 11.3 7.8 2.9
Luxembourg 4.9 2.3 7.1 3.7 2.6
Netherlands 5.2 4.5 9.5 9.6 1.8
Poland 5.8 3.6 9.2 7.3 4.2
Portugal 5.8 4.4 10 7.6 3
Romania 5.3 6.2 11.3 7.6 3.2
Slovakia 6.7 4.4 10.9 7.8 5.2
Slovenia 3.8 2.7 6.3 4.8 1.5
Spain 3.3 2.2 5.5 7 1.9
Sweden 4.9 1.9 6.7 6.5 2.1
United Kingdom 6.3 4.5 10.7 6.5 1.9
Average (unweighted) 4.8 3.2 7.8 6.7 2.6
NON-EUROPEAN UNION
Bosnia and Herzegovina 4.5 2.9 7.4 6.7 4.5
Georgia 4.1 3.2 7.2 7.3 2.5
Kosovo 2.5 1.8 4 2.1 6.6
Norway 2.8 3 5.7 5.4 1.9
Russia 2.4 2.4 4.7 3.9 1.2
Switzerland 3.4 3.8 7.1 9.1 1.5
Average (unweighted) 3.3 2.8 6 5.7 3
NORTH AMERICA % % % % %
Canada 7.9 5.6 13 9.4 4.2
United States 9.7 4.3 13.8 6.9 4
Average (unweighted) 8.8 4.9 13.4 8.2 4.1
Source: GEM Global Report 2014.
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