Friday 9 December 2016

We should eke more entrepreneurs out of multinationals

Published 04/10/2015 | 02:30

Galway's medical technology cluster, which includes both large multinationals and mostly smaller indigenous firms, is probably a good example of FDI's benefits
Galway's medical technology cluster, which includes both large multinationals and mostly smaller indigenous firms, is probably a good example of FDI's benefits

Last week this column discussed the need for a more entrepreneurial culture in Ireland and set out the hard evidence of our limited success in business. As often happens when I make this point, some people respond by suggesting that a possible reason explaining why there are too few successful Irish companies could be because foreign companies are treated more favourably.

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You don't have to go far to hear folk who run indigenous businesses complain that their counterparts in multinationals have far easier access to government and officialdom.

A less-frequently made assertion is that multinationals actually squeeze home-grown businesses by sucking up resources, most notably labour.

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