Presentation to Young Fine Gael | Garret Fitzgerald Summer-school


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Presentation to Young Fine Gael Garret Fitzgerald Summer-school on SMEs, entrepreneurship and job creation, economic opportunities.

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Presentation to Young Fine Gael | Garret Fitzgerald Summer-school

  1. 1. SMEs & the Entrepreneurial Contribution to Economic Stability & Growth | Job Creation Presentation to by Olwen Dawe
  2. 2. GEM Figures | Comparative 2003 – 2012 Demographic 2003 2012 Aspiring Entrepreneurs 11.3% 8.0% Established Entrepreneurs 6.7% 8.3% Early Stage Entrepreneurs 8.1% 6.1% Entrepreneurs Discontinuing Businesses 2.5% 1.2% Ratio of Men to Women in Early Stage Entrepreneurship 3.4:1 2.1:1
  3. 3. What is this telling us? • Ireland is making strides in the right direction towards a more facilitative, nurturing climate for entrepreneurs; • We can do more… creating an even more conducive culture by utilising a joined-up approach [engaging with thought leaders, the SME community and industry] – ongoing consultation; • Demystifying entrepreneurship, what it means to be an entrepreneur – redefining how we educate and support our entrepreneurs; • There are sectors and demographics whose talent and potential is also vastly important in this process – not least of all, our young people.
  4. 4. An interesting angle? • Attitude to failure remains an unchanging statistic for our population – entrenched long before the recession [41%]; • There is a real difference between honest failure and reckless abandon – failure or challenge is always a possibility in business… understanding how to manage this is key to success; • Education, incubation and “non-prescriptive” training key in “teaching” entrepreneurship; • ‘Lean’ approach to start-up – pivot, innovate – change.
  5. 5. What can we do next? • Examine a more cohesive, joined-up approach to educating entrepreneurs – from youth / young people to senior ‘entrepreneurs’ [including current LEO roll-out]; • Focus on sectoral /demographic potential – women entrepreneurs, creative, social / community enterprise, agri- diversification – harness and develop potential; • Continue the reach of tech potential – again, our youth are key to driving this [NDRC, EI scope – DCU and ITs]. High export potential / capacity. Reference: Jordan Casey, 13-year old entrepreneur. • General view: managing the perception / attitudinal views towards entrepreneurship and failure – Silicon Valley model.
  6. 6. The Scope | Why do SMEs matter? • Sectoral targets can generate real possibilities – social enterprise alone has potential to create 65,000 jobs / 5% GDP; creative sector [WDC catchment only], 29,000. • Two-thirds of all new jobs are created by start-ups in the first five years of existence – Minister Richard Bruton; • SMEs create more than 4 million new jobs every year in Europe; • Investing in entrepreneurship education is one of the highest return investments Europe can make – European Commission.
  7. 7. Q&A