Government outlines plans to create 93,000 new jobs

A new plan to create 93,000 extra jobs from start-ups over the next five years has been unveiled by the Government.

The initiative aims to increase the number of start-up firms by 25 per cent through measures such as doubling the volume of funding available to them from angel investors.

An increase in co-working and accelerator spaces is also planned as is the launch of new mentoring services and a reduction in the administrative burdens facing new companies.

Measures to promote entrepreneurship among under-represented groups - including women, migrants and older people - are also envisaged in the programme.

The Government's National Policy Statement on Entrepreneurship plans sets out strategic objectives under six broad areas including: culture, human capital and education, business environment and supports, innovation, access to finance, entrepreneurial networks and mentoring, and access to markets.

The programme also sets out a range of issues in the taxation system which, if addressed, could provide a major boost for the prospects for start-ups in Ireland.

Measures in the plan are be implemented through the Government’s Action Plan for Jobs process in 2015.

The new initiative follows on from and draws on the report of the expert Forum on Entrepreneurship published earlier this year.

Speaking at the announcement of the new initiative, Minister for Jobs, Enterprise and Innovation Richard Bruton said: "In Ireland we have great entrepreneurs - we just don't have enough of them. Given that two thirds of all new jobs come from start-ups, it is crucial that we improve our supports in this area if we are to create the jobs we need."

“We have set ambitious but realistic targets for ourselves - most importantly, a doubling of the jobs impact of start-ups by 2019. We have set out what Government will do to help deliver on this- including interventions in mentoring, access to finance, education, promoting start-up as a career option, and providing spaces where entrepreneurs can work. More and more people in Ireland are choosing to create a job, instead of getting a job - I am convinced that with the right supports from Government we can deliver a step-change in this area and create tens of thousands of jobs that we badly need,” he added.

Thomas Cooney, professor of entrepreneurship at the Dublin Institute of Technology said Ireland was over reliant on foreign direct investment and has a “blockage in the pipeline between ‘entrepreneurial intent’ and ‘entrepreneurial activity’.

“The National Policy Statement on Entrepreneurship in Ireland is an excellent first step to improving the quality and quantity of Irish-owned enterprises but appropriate resources must be allocated if the stated goals are to be achieved,” Prof Cooney added.