Ireland is still well to the fore in the European Entrepreneurial League

The Global Entrepreneurship Monitor (GEM) research program is an annual assessment of the national level of entrepreneurial activity in participating countries. Started as a partnership between London Business School and Babson College, it was initiated in 1999 with 10 countries, and has evolved to the stage where it will have 56 countries participating in the current year.

The GEM Report for Ireland for 2008 has recently been published. It shows that with an average of 2,800 individuals setting up new businesses every month, entrepreneurial activity in Ireland remains high. 

Ireland as a nation remains well to the fore in Europe in both the rate of early stage entrepreneurial activity (7.6%) and in the rate of established entrepreneurs (9%) among the adult population. The rate at which individuals started businesses in Ireland (4.3%) continues to be well above the EU (2.7%) and OECD (3.3%) averages and compares well to the rate prevalent in the United States (5.0%).

The findings of the 2008 report confirm that culture and social norms remain broadly positive towards entrepreneurship in Ireland. The aspiration among people to become an entrepreneur in the medium term remains strong. The report also notes that in these more challenging times, there is an increase in the numbers who see entrepreneurship as an opportunity to create employment for themselves via the establishment of their own business.

There is also evidence in the report that compared to other developed countries, a higher proportion of Irish early stage entrepreneurs are innovative, are in technology sectors and are not exclusively focused on the home market.