Dáil Éireann Debate, Tuesday - 23 January 2024
247. Deputy Louise O'Reilly asked the Minister for Enterprise, Trade and Employment where Ireland stands on the Total Early-Stage Entrepreneurial Activity index by comparison to the OECD average; and if he will make a statement on the matter. [2815/24]
View answerEntrepreneurs are vital to the success of the Irish economy and the continued growth of our economy is highly dependent on entrepreneurs and the businesses that they create, develop, and grow.The Total Early-Stage Entrepreneurial Activity (TEA) Index, is a product of the Global Entrepreneurship Monitoring Report. Ireland last participated in this report in 2021/2022 and the TEA rate for Ireland was 12.5%, significantly above the EU average of 8.4%. The report does not include an OECD average for comparison. The OECD Missing Entrepreneurs 2023 report states that in Ireland, “the proportion of people working on start-ups and managing new businesses (i.e. TEA rate) was above the EU average between 2018 and 2022 (12% vs. 7%). The shares were higher for women (9% vs. 6% in the EU), youth (18-30 years old) (15% vs. 9%) and seniors (50-64 years old) (9% vs. 4%)”.The SME & Entrepreneurship Growth Plan (2021) was developed by the SME Growth and Entrepreneurship Taskforce made up of entrepreneurs, business leaders and other individuals uniquely positioned to contribute to a long-term vision for the SME sector. This built on a comprehensive review of SME & Entrepreneurship Policy in Ireland, completed by the OECD in 2019.The Taskforce’s Growth Plan sets out a wide range of recommendations with long-term strategic relevance for SME and entrepreneurs, including measures to assist companies to start up, scale up, enhance their digital and green capabilities, and increase export activity.There has been significant progress on implementation of the priorities. The Taskforce brings annual progress reports to government. The Taskforce will continue to meet and report to Government in 2024.
