Pictured at the launch of the 2011 Global Entrepreneurship Monitor (GEM) Report for Ireland are (l-r): Paula Fitzsimons, Report Co-Author and National GEM Coordinator, Richard Bruton TD, Minister for Jobs, Enterprise and Innovation, Kathleen Lynch TD, Minister for Disability, Equality, Mental Health and Older People and Colm O’Gorman, Report Co-Author

The Global Entrepreneurship Monitor (GEM) Report published this week shows that there has been an increase in early stage entrepreneurial activity in 2011 with approximately 2,200 enterprising individuals setting up a new business each month.

The findings also indicate that almost three quarters of these start-up entrepreneurs expect to become employers. While the majority of the businesses will remain small, the employment impact of these new enterprises is significant when taken together.

The Minister for Jobs, Enterprise and Innovation Richard Bruton, TD, welcomed the findings, saying: ‘It is successful businesses, not Government, that create jobs. That is why the Government's Action Plan for Jobs includes a series of new measures to support entrepreneurs and new start-ups, and to drive continued growth in this critical sector of the economy. In this regard I am pleased to note the results of the GEM research, which indicate that more people were starting new businesses in 2011 than were a year earlier. It is good to see increased numbers of enterprising individuals determined to turn difficult circumstances into an opportunity for personal and commercial success.’

The report itself has been compiled by the National GEM Co-ordinator Paula Fitzsimons of Fitzsimons Consulting and Dr Colm O'Gorman, Professor of Entrepreneurship at DCU Business School.

The publication is supported by Enterprise Ireland, Forfás, the European Social Fund and the Department of Justice and Equality, under the Equality for Women Measure 2007-2013, and also by the Department of Jobs, Enterprise and Innovation.

Commenting on the report Tom Hayes, Head of Micro Enterprise and Small Business at Enterprise Ireland said: ‘Starting and growing enterprises is fundamental to achieving regional economic growth. In this context it is heartening that the GEM Report demonstrates that a significantly higher proportion of Irish entrepreneurs are engaged in medium or high technology sectors (11%) compared to averages across the OECD (7.3%) and EU (7.9%).  These are the kind of companies with the potential to become innovative, export-focussed businesses with the capability to grow internationally and create value add jobs in the Irish economy’.

Click here for a summary of the report findings

Click here to download The 2011 GEM Report for Ireland