Enterprise Ireland (EI) today announced a substantial increase in export growth for last year.
Enterprise Ireland clients achieved substantial export growth last year, increasing their overseas sales by 14.5 per cent to IR£8.64 billion (euro 10.97 billion) , according to the EI’s Annual Report.
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EI’s Chief Executive OfficerMr Dan Flinter
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Overall, according to the report, software exports lead with 36 per cent growth; the number of jobs created directly or indirectly by EI increased by 6,728 to 146,431, while equity portfolio yields totalled IR£80m (euro 101 million).
Speaking at the launch of the report, EI’s Chief Executive OfficerMr Dan Flinter,said the results reflected the commitment of client companies to increasingly internationalise their businesses, particularly in the knowledge-based high technology sectors
Irish owned industry, he said, now had a significant number of companies which have evolved through the 1990s into impressive global players.
"Enterprise Ireland supported the establishment last year of 57 new companies with high export growth potential," he said
Most of them are in the thriving international services . . .with encouraging evidence of an emerging trend in technology start-ups in locations outside Dublin, and a flow of new enterprise projects in Cork, Galway, Sligo, Donegal and Waterford.
However he warned these new technology companies, that with the downturn in the American economy and the constraints on venture capital, businesses need to carefully reassess their strategies.
"There are still tremendous opportunities for Irish companies with innovative, leading-edge products, services and solutions, even in tough market conditions. . .," he added
"[But]There is a critical and urgent need for all companies to actively investigate new markets and focus on developing and expanding within the huge Eurozone marketplace, taking full advantage of the expected favourable conditions to generate new, substantial and profitable business."
EI’s new strategy for Europe - Europp:2003 -is also outlined in the report which aims to actively support client companies who are prepared to make substantial investments in the development of European markets.
Europp:2003, is a three-year, opportunity-focused strategy, which puts in place a range of measures to step up the rate of entry of client companies into the Eurozone and provide them with the skills to transact business in Europe.
The strategy is designed to increase the numbers of companies selling in excess of IR£5 million (euro 6.35 million) annually in the Eurozone, doubling the number from 55 to 110.
Europp:2003 initiatives include:
- Opening incubator offices in Paris, Düsseldorf, Munich, Amsterdam, Stockholm, Madrid and Vienna.
- Direct engagement with major European buyers, bringing 300 to Ireland in 2001.
- Workshops and training in language, local business culture and selling skills.
- An Enterprise Ireland pan-European team to keep clients up to date onintelligence, along with market customer and trade changes and emerging opportunities
- A Young Managers for Growth initiative
- Financial support for marketing initiatives to penetrate Eurozone markets.