New forum to advise on entrepreneurship

A new advisory group on entrepreneurship has been established to support and advise the Department of Jobs, Enterprise and innovation on how to foster a supportive environment for startups.

Chaired by investor Sean O’Sullivan, the advisory forum will have input on new policies in the area of entrepreneurship. Mr O’Sullivan said he expected some substantial recommendations to come out of the process.

“Entrepreneurship is about creating something from nothing, about growth and change and the kind of disruption that improves people’s lives. It is effectively a kind of magic that impacts the entire economy,” he said. “We need to look at what the government can do to draw out this magic, to support it and develop it, and where necessary to simply stand aside and let people get on with it themselves.”

Minister for Jobs, Enterprise and Innovation Richard Bruton also opened a public consultation as part of an assessment on the current environment for entrepreneurs, allowing interested parties to share submissions.

“Effective consultation with interested parties and stakeholders will ensure that the issues we prioritise are the right ones, and we will publish our plan by the end of the year,” Mr Bruton said.

Recent research from the Central Bank indicates that the majority of job creation – 67 per cent – comes from businesses in the first five years of their existence.

The Government has pledged to put in place new policies to encourage entrepreneurs and start-ups. These measures include a microfinance scheme and a credit guarantee scheme to improve access to finance, and the creation of support networks throughout the country.

"We need to ensure that we foster the development of an entrepreneurial culture that supports entrepreneurs to identify new business opportunities, establish successful companies and generate employment," said Minister for Small Business John Perry. "I strongly encourage interested stakeholders to participate in the consultation process."