'Record' levels of exports in 2011

Irish firms achieved record levels of exports in 2011 and employment stabilised, despite the challenging economic environment, Enterprise Ireland said today.

Export sales are set to hit a high for the year, while high potential enterprises are to make a significant contribution to employment.

More than 500 jobs will be created over the next three years in 32 high potential start-ups that Enterprise Ireland has supported in the third quarter of the year. In the first half of the year, 755 new jobs were announced due to the programme.

The Minister for Jobs, Enterprise and Innovation Richard Bruton said the programme was a central part of his plan to drive success in Ireland's indigenous businesses.

"If we are to rebuild the economy and get jobs growing again, we must create an indigenous engine of growth," he said.

Enterprise Ireland client companies employ a total of 162,692 people, with more than 140,000 of these on a full time basis.

Export sales at Enterprise Ireland firms are expected to exceed the record set before the recession began, with new export sales estimated at more than €1 billion for the year.

Enterprise Ireland said it introduced a number of initiatives during the year to meet demands of entrepreneurs and client companies, including competitive start funds for early stage entrepreneurs, which give €50,000 in funding to start-ups. Some 55 enterprises were supported in this way.

A €10 million international fund was used to attract overseas entrepreneurs, while a graduate programme placed 120 graduates with Irish firms throughout the world.

A record number of Irish companies were acquired by overseas multinationals during 2011, with companies such as Research in Motion, BAE Systems, AMDOCS and IBM snapping up Irish firms.

"There should be no misunderstanding however, and it's been widely reported, that 2012 will be a year of continuing challenges," Enterprise Ireland chief executive Frank Ryan said.

"In preparation for this, Enterprise Ireland will move rapidly to implement the Government's planned jobs strategy."

Mr Ryan said the organisation would focus on lean programmes to increase clients competitiveness, increase the number of high potential start-ups and help companies win business overseas."