Mr. Paddy Cosgrave:

With regard to my own sector, there is evidence from the Kaufmann institute and others, that new net job creation tends to be created by smaller companies rather than larger ones. If one has an allocation of €100 million then one must ask if it is better to give that sum to one huge company or is it better to give it to 1,000 companies to create ten jobs each. Evidence suggests that investing in smaller to medium sized companies tends, over the medium term, to lead to more net new job creation. There are many reasons for it. For example, it would be unprecedented for a company like the Kerry Group to triple its number of employees in a year. It is not unprecedented for a small company of ten employees, having stumbled upon a great product, to triple in size to 40 employees in a year. That happens all of the time and there are many reasons for it.