Oireachtas Joint and Select Committees

Tuesday, 13 November 2018

Seanad Public Consultation Committee

Small and Medium-Sized Enterprises: Discussion

2:30 pm

Mr. Kevin Sherry:

Enterprise Ireland has been very focused on female entrepreneurship in recent years. Six years ago, between 7% and 8% of the start-ups Enterprise Ireland supported were led by females. We saw this as a fundamental issue. Last year, we supported 181 start-ups, of which 63 - or 28% - were female-led. We are putting a focus on the area, providing specific supports, providing a female-led competitive start fund, providing mentors who are specifically focused on female-led enterprises, providing support in terms of networks, and encouraging and putting a spotlight on the area. Obviously, we will not be satisfied until we get that to 50% - 28% is more than half way there.

The UK is the most important export market for indigenous companies. That will continue to be the case. Last year, exports to the UK grew by 4%. The good news is that over the past ten years, exports into the UK have continued to grow, but exports to other countries have continued to grow at a faster pace. Exports to Asia-Pacific countries grew by 9%. Our exports to the US grew by 7%. We are trying to ensure companies can grow faster in those markets.

Senator Ó Céidigh is right in what he said about some markets. In the case of Latin America, we are starting from a lower base and they are more challenging markets to enter. It is about focusing on the areas where Enterprise Ireland clients and Irish companies have specific expertise and capabilities that match the needs of those markets. For example, this week we have a trade mission in Germany led by the Minister of State, Deputy Breen, focused on medical devices. There are two leading medical device trade shows. Last week, we had a trade mission to China which was focused in Hong Kong on financial services, led by the Minister, Deputy Humphreys, and also mainland China. On Thursday evening, we have a major financial services event in London. It is about focusing on not just a general market but areas where we have capability and where there is opportunity.

I will ask my colleague, Mr. Christal, to speak about succession planning.

Comments

No comments

Log in or join to post a public comment.