Has anyone read the Global Entrepreneurship Monitor (GEM) Report? It illustrates the health of entrepreneurial start ups in the country. It has a lot of facts. It throws up a lot of questions.
2,200 people set up a new business each month last year. How many were made redundant or worked for companies that went bust?
Almost three quarters are expected to become employers. When the kids are 18 they can be employed for tax efficient purposes? Are they then employees?
Most are working in the high tech sector. This is the sector that traditionally hires ‘self employed’ contractors. But they’re not really businesses, are they?
It said while the majority of the businesses will remain small, the employment impact of the enterprises is significant when taken together. Surely, most are not ‘real companies’ and if they are, they’re likely to be ‘characteristically’ Irish SMEs ie they stay small!
The report also notes that there are two and a half times as many men as women who are entrepreneurs. It begs the question: How many of the ‘real businesses’ in the report – that have a chance of success – are run by women?
A minister said: ”It is good to see increased numbers of enterprising individuals determined to turn difficult circumstances into an opportunity for personal and commercial success,”
At least they haven’t signed on!