Bernard Durkan (Kildare North, Fine Gael)
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160. To ask the Minister for Enterprise, Trade and Employment his views on the extent to which women continue to head up new enterprises; and if he will make a statement on the matter. [43865/24]

Emer Higgins (Dublin Mid West, Fine Gael)
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My Department and its agencies are working continuously to address the under-representation of women across the enterprise sector. Increasing female participation in entrepreneurial activity acts as an important driver of economic growth, it increases the diversity and strength of our indigenous business sector and can strengthen social inclusion.

Enterprise Ireland has made significant strides in promoting female entrepreneurship, ensuring that women continue to play a pivotal role in heading up new enterprises. The agency’s commitment is evident through its comprehensive Women in Business Strategy, which aims to increase the number of women leaders and entrepreneurs in Ireland. This strategy is underpinned by a six-year action plan that includes targeted initiatives such as the Pre-Seed Start Fund and the Innovative HPSU Fund, which provide crucial financial support to early-stage companies and high-potential start-ups led by women. In 2023, 31% of the start-ups supported by Enterprise Ireland had a woman in the founding team, reflecting a growing trend of female leadership in new business ventures.

Moreover, Enterprise Ireland’s efforts extend beyond financial support. The agency actively fosters an inclusive entrepreneurial ecosystem through programmes like New Frontiers and Going for Growth, which offer mentorship, training, and networking opportunities specifically tailored for women entrepreneurs. These programmes are designed to equip women with the skills and confidence needed to scale their businesses and navigate the challenges of the entrepreneurial journey.

The LEOs have a key role in fostering a strong enterprise culture and promoting entrepreneurial activity nationally, including promoting entrepreneurship amongst women through mentoring, training and development supports and supporting Women in Business Networks. Female entrepreneurs are continuing to show strong numbers within the LEO network for accessing training and mentoring. They outnumber their male colleagues when it comes to upskilling with double the number of females than males accessing training.

In 2018 Government launched Balance for Better Business (B4BB) as an independent business-led group to increase female representation in business leadership in Ireland. This initiative is supported through my Department, and focuses on improving gender balance in business, especially at senior levels, which is an important goal for both business and Government.

Considerable progress has been achieved in Ireland since Balance for Better Business was established in 2018. Having lagged the EU average for female representation on the boards and leadership teams of its largest listed companies when B4BB launched, Ireland now ranks 6th in the EU for female board representation and 3rd in the EU for leadership teams, well ahead of the EU average.

In May 2024, Balance for Better Business set out a new 5-year strategy and set of targets. These set the ambition for 40%+ female representation by 2028 on the boards and leadership teams of all company cohorts monitored by the initiative: listed companies, large Irish-owned private companies, and multinationals with a large presence in Ireland.

My Department and its agencies have a range of initiatives aimed at supporting women to start and scale businesses that provide quality jobs throughout the country. Enterprise Ireland and the LEOs provide financial incentives, mentorship programmes and collaborative initiatives to promote gender balance. Enterprise Ireland and the LEO’s are paving the way for a more inclusive and dynamic entrepreneurial landscape in Ireland. This ongoing commitment not only empowers women but also contributes to the overall economic growth and innovation within the country.