Business Irish

Tuesday 20 August 2019

Spike in criticism of supports for business

Kevin McLoughlin
Kevin McLoughlin
Gavin McLoughlin

Gavin McLoughlin

Ireland is not doing enough to support entrepreneurs whose businesses are struggling or have gone under, according to 64pc of respondents to EY's latest Entrepreneur of the Year survey. That's a 27 percentage-point increase on last year, with the relative lack of a social welfare safety net for the self-employed having come under sustained recent criticism .

Respondents also said high rates of tax were inhibiting businesses in this country, and a third said attracting talent was their main challenge.

"Difficulties with recruitment are directly contributing to the issue of scaling - which was cited by 22pc of entrepreneurs as their key challenge," said EY's Kevin McLoughlin, a partner lead on the Entrepreneur of the Year competition.

"Irish entrepreneurs are struggling to compete with large multinationals that can offer higher salaries and fringe benefits in the race for top talent. Interestingly, only 6pc rank graduate recruitment as their biggest challenge, favouring a more skilled workforce," he added.

"We need to continue to make Ireland an attractive location for not just retaining the talent, but through targeted initiatives to attract expatriates and returning emigrants."The survey canvassed 416 previous finalists of the Entrepreneur of the Year competition.

Irish Independent

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