PLATFORM:THE ECONOMY needs to change its diet, and quick. For years, it's been a fast-food junkie - bulking up on property and multinationals. Of course, there's no long-term nutritional value in any of that rubbish and now, after a forced detox, the economy's a mess.
So it's time to change the menu and rely on what's grown locally. To start, we need to create a fertile base. This foolproof compost mix is guaranteed to give Paddy Economy back the vim and vigour for which it is renowned: take one part muck and toss in two cows. Stir. Add lashings of green, green grass. Wait. You'll need to be patient. Then, whammo! You have your own easy-grow entrepreneur.
The Irish entrepreneurial species tends to thrive in rural areas. Country children work alongside their parents from a young age. They experience the ups and downs of business first-hand. From the time they can walk, they help their parents go about the farm, shop or pub. Country kids hear their parents talk about prices and see them research the market, develop a plan, watch their margins and then implement the plan.
Life is a constant calculation. They observe market conditions and costs with their parents: How did you get on at the mart? What were the prices? Did you buy? Did you sell? Margins are key: What did it cost to feed and bring on the animals? And, does the current price justify a sale?
These children know the product's quality must also be monitored carefully. In milk, for example, a high bacterial level means a lower price. Therefore, they know it pays to improve constantly and watch the product.
Business is in their DNA and they absorb important entrepreneurial lessons - such as how to make calculated risks - at an early age. After watching the theory, they also have the chance to put it into practice. Even the smallest transaction, such as selling eggs to local people, is a lesson in the market. How much should I charge? Do I reduce the price if they buy more than a dozen?
Customer relationships and local alliances are also essential. When you sell something it's traditional to give back something (money or a free product) for luck. This simple act also builds customer loyalty.
Country life is the perfect incubator for entrepreneurs. A 2002 Forfás study, Entrepreneurship in Ireland, found: "Important factors that have emerged are: a family background in business; possession of relevant skills and knowledge; a strong interest in business; access to formal and informal supports; ability to access finance and to develop or buy in necessary complementary skills and experience; possession of a marketable idea; and a willingness to work hard."
It's perhaps no surprise then that many of our captains of industry were born, nurtured and made in rural areas: Denis Brosnan of the Kerry Group; Philip Lynch, One51 and IAWS; Martin Naughton, Glen Dimplex; Beef baron Larry Goodman, and Seán Quinn of the Quinn Group.
Quinn, for example, started his empire simply but wisely. In 1973, he borrowed £100, extracted gravel from his farm in Fermanagh, washed it and sold it to local builders.
Our economy needs more entrepreneurs in the mix. Our reliance on foreign investment and property prices has made us vulnerable to global downturns. Good local business people create jobs, services and products at home, while innovation leads to more trade with foreign markets.
We are doing okay in the entrepreneurial league tables but we should be doing better. In July, the Irish Global Entrepreneurship Monitor (GEM) Report for 2007 found that Ireland continues to be one of the leading EU countries in terms of early-stage entrepreneurship. Overall, the research found that 8.2 per cent of the adult population living in Ireland is engaged in entrepreneurial activity, an increase on the 2006 level of 7.4 per cent.
Ireland needs to keep the conditions right to grow the next crop of entrepreneurs. City-dwellers: put on your Wellingtons and keep an eye on the culchies!
• Margaret E Ward is a journalist and a director of Clear Ink, the Clear English Specialists. Margaret@clearink.ie
