Why Ireland Needs an Entrepreneurship Policy

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The recent release of the Government’s ‘National Policy Statement on Entrepreneurship in Ireland’ was broadly welcomed by the business community as an important first step in enhancing entrepreneurial activity in Ireland. The document contains a vast array of actions that require to be taken and while some of the more critical assessments of the proposed actions might be deduced as being based on vested interests rather than objective analysis, all discussion on creating a stronger entrepreneurship culture in Ireland is ...

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Chances You Make Alter Chances of Achieving Success

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The famous management guru Peter Drucker once wrote that entrepreneurship is not an art but a science and like any science it can be learned. I believe this to be true as I have long argued that any person is capable of starting their own business. However, the more pertinent questions that should be asked of a potential entrepreneur are: ‘do you wish to start a business (choice)’ and ‘is it appropriate for you to start this specific business (capability/sustainability)’?

Within ...

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Vibrant Apprenticeship Schemes Keep Youth Unemployment Down

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In recent weeks we have witnessed the joy and pain experienced by young people (and their families) when the results of the Leaving Certificate and CAO points were published. The heavy emphasis that Irish people place on third-level education was highlighted yet again and those left behind have to struggle with identifying alternative plans. Ireland is quite rightly proud of its high participation rates in third-level education. Indeed, an EU report earlier this year highlighted that Ireland had the highest rate ...

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Risk/Reward Balance Does Not entice Us To Start A Business

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Although Ireland has been experiencing challenging economic conditions, 37 per cent of Irish people stated that if they could choose between different kinds of jobs, they would prefer to be self-employed rather than be employed by a company (similar to the EU average). The survey, carried out by the European Commission in 2012, revealed that Irish people had a more positive view of entrepreneurs than their EU counterparts as 89 per cent of the population (compared with ...

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Entrepreneurs Can Be ‘Made’ Through Education

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It is broadly agreed that the economic growth of this country is heavily dependent upon our ability to encourage more people to start up businesses.
We are particularly in need of more indigenous enterprises capable of selling innovative products and services internationally.

However, many myths persist about the concept of entrepreneurship. Some of these were evident in a recent Irish Examiner article entitled, ‘We should encourage a culture of risk-taking’.

The article, by Joe Gill, used a range of emotive expressions to ...

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Cantillon 2013 – Entrepreneurial Reflections

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He was a banker who made his fortune through using his political and business connections to good effect, he was a speculator who made fortunes in various business dealings, he left behind a trail of debtors who pursued him with criminal charges and lawsuits, before he mysteriously vanished and turned-up unannounced in the Americas. No, this is not one of Ireland’s modern day bankers or property developers but the life story of Richard Cantillon, the Kerryman who first coined the ...

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Granting Your Employee A Wish

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One of the key challenges facing companies in recent times is the ability to motivate their staff. Much has been written and many research studies have been undertaken seeking to identify the most effective ways in which managers can stimulate employees towards achieving the goals of the organisation. Indeed, an article in the magazine ‘Entrepreneur’ highlighted that 42% of the global workforce are disengaged in work, 90% of leaders say that employee engagement is critical ...

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Commentary on EC Entrepreneurship 2020 Action Plan

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Last month the European Commission launched its Entrepreneurship 2020 Action Plan which is a blueprint for the development of an entrepreneurial culture across Europe. The document offers well-reasoned contextualisation to its various initiatives and it details the actions that the European Commission will take, as well as the activities that it ‘invites’ the Member States to enact. The document proposes three areas for intervention: (1) entrepreneurial education and training; (2) strengthening framework conditions for entrepreneurs; and (3) reaching out to ...

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Pictured With First Edition of Cantillon Book

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I had the opportunity this week to see a First Edition of the book ‘Essai Sur La Nature du Commerce en Général’ by Richard Cantillon. I was attending a photocall at Trinity College for the Cantillon 2013 Event (www.richardcantillon.com) when the book was provided by the Trinity College Library. Prof Antoin Murphy (who wrote the definitive biography on Cantillon) enabled us to get access to the book and he is also pictured at the photocall. The Cantillon 2013 event will be ...

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Let’s Have Entrepreneurship Education for All

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One of the great myths surrounding entrepreneurship is that it is concerned solely with the creation of a new business, and by extension the generation of wealth for the entrepreneur who established it. The reality is that entrepreneurship is about a way of thinking and behaving, it is about identifying opportunities, assembling a team, gathering resources, being positive, taking risk, and building for the future. Indeed entrepreneurship can be applied in many different economic contexts such as social entrepreneurship, public ...

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African Leadership and Excellence Awards 2012

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In a glamorous event organized by the African Voice Newspaper, Africans in Ireland were celebrated for their achievements and contributions to the Irish society on the 27th of October 2012 at the inaugural ceremony of the African Leadership and Excellence Awards 2012 hosted at the Gresham Hotel in Dublin. The awards night which recorded a high turn-out of dignitaries and attendees from the African and Irish communities in Ireland, various non-governmental organizations as well as representatives from corporate organizations who ...

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Mentors Can be Key Role Models for Entrepreneurs

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Given the current economic challenges facing many countries across the globe, the notion of engendering greater entrepreneurial activity has become a significant goal for many national governments.

However, the challenge facing policymakers is to identify ways in which they can develop indigenous entrepreneurial potential and simultaneously renew the local economy by building competitive advantage.

It is almost 20 years since researchers first noticed that generating vast numbers of new jobs will not come from creating new firms. Instead, they will come from ...

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