Is entrepreneurship prohibitive in the current economic environment in Ireland?

Abstract

In Ireland entrepreneurship has played a central role in the development of the Irish economy with many of the opinion that it played a significant role in the creation o f the ‘Celtic Tiger’. Accordingly, entrepreneurship has a key role to play in the Government’s drive to ensure the future growth and prosperity of the country. In the last number of years the Irish economy has seen an increasingly rapidly hanging economic and business environment fraught with negative attitudes towards success. While it is evident that entrepreneurs in Ireland are not short on personal drive and commitment the author concludes from her analysis that these entrepreneurs require some additional support in assisting them to overcome the barriers and difficulties that they now face due to the current economic climate. This dissertation investigates if entrepreneurs in Ireland perceive that they need more government support to undertake an entrepreneurial career. The focus therefore is on the issue of entrepreneurship; in particular, on the support mechanisms available to both existing and start- up business. The author used a number of methodologies in order to address the objectives. Literature on SMEs in Ireland was reviewed; alongside this the author also investigated international literature on entrepreneurs, paying particular attention to the internal characteristics of entrepreneurs and on the factors that motivate them to establish and expand their businesses. A key element o f the study was to obtain the views o f entrepreneurs on the issues being addressed by the author. Indepth personal interviews were held with six entrepreneurs in Co. Galway. This research highlights the need for more government support to encourage the innovation and risk taking o f entrepreneurs. The entrepreneurs interviewed have indicated that currently entrepreneurship is prohibitive and all believed that the government needs to do more to create an environment that is more conducive to job creation.