'Think big, think global' - Head of CPA Ireland encourages Irish entrepreneurs
Think big, think global – that’s the message from the head of the Institute of Certified Public Accountants to Irish entrepreneurs.
Brian Purcell, President of CPA Ireland, said the huge number of multi-national companies operating here offers a unique opportunity for small and medium sized businesses to forge new relationships, and grow their business.
He said smaller companies have much to learn from some of these large high-exporting operations.
He urged modest sized businesses to seek "a new course for growth outside the limited domestic economy”, adding that they look to their multinational neighbours for insights on how to become more efficient.
Addressing the CPA Annual President’s Dinner in Trinity College, he also stated there is “a new mood of optimism” in the sector.
“But there are constraints to that growth. Regardless of how well it performs, the domestic economy is only of a limited size. Irish companies seeking to chart a new course for growth must look elsewhere for opportunities,” he added.
“However, the transition to exporting to distant markets places severe pressures on those firms who face all the additional costs, whilst also taking on local competitors who enjoy considerable advantages in terms of scale and lower cost bases.
“Those firms could benefit greatly from a path to growth considerably closer to home, offered by Ireland’s base of more than 1,000 multinational companies.
He added: “There are undoubtedly opportunities for Irish firms to win new business from their multinational neighbours.
“But the real value which those global corporations bring, lies in the fact that they are global leaders not just in their own business sectors, but in how they do business.
“They strive for world class standards across every aspect from people development, through innovation, marketing, customer relations, and basic business processes.”
Attendees were presented with a copy of “Charting a Course for Growth”, the latest report produced by CPA Ireland which looks at what Irish SME’s can learn from multinational companies operating here.