China, India? No, Ireland Leads the Way for Entrepreneurs
With all of today's focus on global markets in India and China and their economic boom, there seems to be one market that is being overlooked as one of the global economy's rising stars, Ireland. The New York Times published an article last week about the rise of entrepreneurship in Ireland and how the European Union now ranks it third in new entrepreneurship activity. This serge in activity, the article cites, comes after nearly four decades of governmental policies that have helped the country rise from poverty to prosperity, and after Ireland joined the European Union in 1973. Enterprise Ireland, according to the article, is an Irish government organization that helps small business when they are in trouble. The organization set up an incubator in Manhattan for Irish companies to lease office space in order to garner exposure in the American market.
In addition, the Irish government made it easy for entrepreneurs by offering incentives such as making education free through college, rewriting tax policies for American companies that were interested in investing in Ireland and using direct equity investments for people to use to start their own businesses. Kevin Sherry of Enterprise Ireland specifically points to the 1987 policy that reduced personal taxes as the beginning of the new business climate in Ireland as well as Ireland's participation in the European Union. Sherry states that Enterprise Ireland also has helped with initial capital investment and support of research and development.
Maybe though, one can gather from the article, that what really is behind the economic boom in Ireland is Sherry's statement about the passion of Ireland's people to make Ireland a better place. We're old enough to remember when times weren't good. We don't want to go back there.
In my opinion it's a type of passion that can't be described in just one or two words. It is that passion that is critical, if you really want to succeed. A passion that every entrepreneur must have for the business that they do.
Click Here for the full New York Times article.
In addition, the Irish government made it easy for entrepreneurs by offering incentives such as making education free through college, rewriting tax policies for American companies that were interested in investing in Ireland and using direct equity investments for people to use to start their own businesses. Kevin Sherry of Enterprise Ireland specifically points to the 1987 policy that reduced personal taxes as the beginning of the new business climate in Ireland as well as Ireland's participation in the European Union. Sherry states that Enterprise Ireland also has helped with initial capital investment and support of research and development.
Maybe though, one can gather from the article, that what really is behind the economic boom in Ireland is Sherry's statement about the passion of Ireland's people to make Ireland a better place. We're old enough to remember when times weren't good. We don't want to go back there.
In my opinion it's a type of passion that can't be described in just one or two words. It is that passion that is critical, if you really want to succeed. A passion that every entrepreneur must have for the business that they do.
Click Here for the full New York Times article.
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