Goverment


26
Feb 14

Dragon’s Den Star to Discuss Entrepreneurship Before Oireachtas Committee Today

Sean O'SullivanDRAGON’S DEN STAR Sean O’Sullivan will appear before the Joint Committee on Jobs, Enterprise and Innovation today to discuss what can be done to encourage entrepreneurship in Ireland.

The committee will be discussing a report by the Entrepreneurship Forum, called: Entrepreneurship in Ireland – Strengthening the Startup Community.

Investor

Sean O’Sullivan has founded several technology companies and organisations, including MapInfo, a $200 million software and services business head quartered in New York. Currently he is managing director of of his newest ventures called Avego Ltd which is a small technology firm with offices in Ireland, China, and the United States.

Last month, the Entrepreneurship Forum, which is chaired by O’Sullivan launched its report which has a total of 69 recommendations which require Government action, said Committee Chairman Damien English TD.

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8
Jan 14

Ireland Impresses with 1st Post-Bailout Bond Sale

The National Treasury Management AgencyDUBLIN (AP) — Ireland made a triumphant return to debt markets Tuesday as it auctioned 10-year bonds to great demand for the first time following the country’s successful escape from an international bailout.

The Irish treasury said it sold 3.75 billion euros ($5.1 billion) in bonds, picking from a field of international bidders who sought to buy more than 14 billion euros of the debt securities. The high demand meant the bonds were sold at an average yield of 3.54 percent, better than investors’ views of fellow eurozone nations Spain and Italy.

Investor enthusiasm for Ireland’s new debt securities pushed yields on the country’s existing 10-year bonds down to 3.25 percent, an 8-year low.

“The Dublin government’s bond auction was a roaring success, more than three times oversubscribed, and the golden boy of austerity is making the rest of the PIGS — Portugal, Italy, Greece and Spain — green with envy,” said Brenda Kelly, an analyst at London financial derivatives trader IG Group.

She said Moody’s, the only credit rating agency yet to upgrade its position on Ireland, was likely to raise the nation’s debt securities back to investment grade in its next report Jan. 17.

Irish Finance Minister Michael Noonan said the aggressive bidding reflected a total reversal of the country’s economic crisis in 2010, when Ireland faced national bankruptcy over the runaway cost of a bank-rescue program. The yields on Irish 10-year bonds soared, rendering affordable borrowing impossible.

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16
Dec 13

Enda Kenny’s Address to Nation.

Here is Taoiseach Enda Kenny’s national address Good evening.
Three years ago, Ireland entered a bailout programme.
This affected every household in our country.
In March 2011, you gave Tanaiste Eamonn Gilmore and me a mandate to fix the public finances, and to get Ireland working again.

Two years ago, this month, I said that retrieving our economic sovereignty was an important step in the plan to deliver on that mandate.

Since then – the people of Ireland and your government – have worked hard to deliver that plan. This has required very difficult decisions at home and tough negotiations abroad.

In 2011, the immediate and urgent priority had to be to stabilise the economy by tackling the enormous budget deficit and the banking chaos that we inherited.

We had to act decisively to show investors, and markets and our international partners that we were serious about fixing our economic problems.

This was tough – wages and services were cut, and new charges introduced. Many families have also had to face the devastating consequences of unemployment and emigration.

I know that many people are struggling to make ends meet. I also know that, for many of you, the recent improvements in the economic situation have not yet been felt in your daily lives.

But it is now clear that your sacrifices are making a real difference.

Ireland is now moving in the right direction. Our economy is starting to recover.

While we still have far too many people out of work, jobs are being created. While borrowing is still too high, our public finances are moving towards a sustainable position.

Internationally, our good name and our credibility have been restored. Thanks to these efforts, Ireland will exit the EU-IMF bailout tonight.

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16
Dec 13

It is Working in Ireland

Eamon Gilmore, Tánaiste  (Deputy Prime Minister) and Minister for Foreign Affairs and Trade of IrelandToday Ireland leaves the three-year EU/IMF programme of assistance, our economy growing, our finances stabilised and unemployment coming down, writes Eamon Gilmore, Tánaiste  (Deputy Prime Minister) and Minister for Foreign Affairs and Trade of Ireland.

Our strategy is working in Ireland, and our people are getting back to work.

We are the first country in the euro area to exit such a programme and it is a significant moment not just for Ireland, but for Europe.

 

This crisis has been a test of national governments, of European solidarity and of the European project itself.  Today shows that while Europe needs to find answers to its critics, the critics must in turn recognize the real and substantial signs of progress, hard-won by our people.

The decision Ireland has taken to exit the programme without any further precautionary credit line is possible because of what we have achieved.  Competitiveness has been regained as costs and prices have risen more slowly than our trading partners.  We have made a budgetary adjustment equivalent to 18% of our GDP and introduced significant structural reforms.  We have regained the confidence of international investors.  We have funds immediately available to us equivalent to our entire funding needs in 2014.  From next year, we will have a primary budget surplus which means we are raising more in revenue than we spend on everything excluding debt interest.

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4
Nov 13

New €125m First Development Capital Fund in Ireland to Invest in SMEs

New €125m First Development Capital fund in Ireland to invest in SMEs

 The Irish Government has announced a new €120m investment fund – dubbed First Development Capital – to invest in Irish small-to-medium-sized enterprises (SMEs), the Minister for Jobs, Enterprise and Innovation, Richard Bruton, TD, has announced.

MML Growth Capital Partners Ireland will manage the €125m fund, which will be used to help innovative and export-driven SMEs scale up faster, reach new markets, and ultimately create homegrown jobs for Ireland.

Broken down, Enterprise Ireland has made a €25m commitment, under the Government’s Development Capital Scheme, to the first and final close of the fund. This scheme was set up last year.

As part of the fund, a total of €75m in funding has been made available from the Department of Jobs, Enterprise and Innovation through Enterprise Ireland.

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19
Jul 13

Connect-Ireland Create 75 Jobs in Laois, Galway & Longford.

ConnectIreland helps generate 75 jobs in Laois, Galway and LongfordSeventy-five jobs are to be created in Laois, Galway and Longford as part of ConnectIreland, an organisation that financially rewards individuals who help bring employment to Ireland.

The three companies involved were introduced to Ireland through ConnectIreland, the company responsible for delivering the Irish Government’s Succeed in Ireland initiative, as part of the Action Plan for Jobs.

The companies creating the 75 jobs are US automotive coatings company Magni Group, US consulting firm Flagship Management, and Italian firm Ark Energy Consulting Limited.

Magni Group is to establish a new manufacturing plant and R&D laboratory in Portarlington and create 50 jobs.

Flagship Management is to locate the EMEA headquarters of its maritime consultancy and recruitment business in Kinvara, resulting in 15 new jobs.

Ark Energy Consulting Limited is to create 10 new roles in Longford town as it expands its Italian operation to Ireland.

Each of the three companies was referred to ConnectIreland by a registered ‘connector’ who put the company in touch with the expert FDI team at ConnectIreland, when they learned that they were in expansion mode.

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31
May 13

2,000 Jobs to created in Water Metering Network.

IRISH Water is to create 2,000 new jobs as part of the Government’s roll-out of the water metering network. 

The firm, which will administer the new water charge for all Irish households from 2014/15, will create the new jobs on a phased basis over the next three years.

The first 100 jobs will be filled over the next six months.

Over 400 jobs will be focussed on the Cork-based business services firm, Abtran, which won the contract to operate Irish Water’s call centre.

A further 1,600 jobs will be created in the installation and maintenance of Ireland’s network of over one million water meters.

Workers for these jobs will be recruited from July.

Environment Minister Phil Hogan confirmed the jobs as he launched the Irish Water roll-out with the firm’s managing director, John Tierney in Cork this (Thursday) morning.

Irish Water, which is a subsidiary of Bord Gais, was created to manage Ireland’s water distribution system both for residential and business customers.

The core of the new system will be a metered water charge which is expected to be implemented from 2014/15.

The charge has not yet been set but is expected to be in the region of €200 to €300 annually.

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22
May 13

Public Consultation: A National Entrepreneurship Policy Statement for Ireland?

Enda Kenny & Richard BrutonInvitation to interested parties to submit written views and suggestions to support the Department’s work on developing a National Entrepreneurship Policy Statement.

An ambitious target has been set by the Taoiseach to make Ireland the best small country in the world in which to do business by 2016. In pursuit of this goal, the Government is using the Action Plan for Jobs to drive the jobs and enterprise growth agenda. The Government recently published the Action Plan for Jobs 2013, the next step in the Government’s plan to rebuild the economy and accelerate the transition to a sustainable, jobs-rich economy based on enterprise, innovation and exports. There are 333 actions in this year’s plan – compared to 270 last year – involving 16 Departments and 46 agencies or offices, engaged in delivering enterprise and jobs supporting measures in 2013. There has been wide consultation with interested parties and there has been deep engagement with industry to try and ensure that the issues we prioritise are the right ones. As has been repeated many times in the context of the Action Plan for Jobs, Governments don’t create jobs, successful businesses and entrepreneurs do, but Government has a key role in making sure that the environment is as supportive a s possible to allow that to happen. Thechallenge for Government, and for the Action Plan for Jobs, is to maximise the impact of all efforts to support enterprise which in turn support s job creation and protection. Entrepreneurship is critical to achieving this goal and will continue to play a crucial role in creating jobs in the Irish economy in the coming years. No one Government Department controls all the levers to drive entrepreneurial activity. The need for a dedicated policy on entrepreneurship has been highlighted many times inthe recent past, and was re-iterated again, notably by the Advisory Group on Small Business, in the context of the submissions received regarding the Action Plan for Jobs 2013. A National Entrepreneurship Policy will deliver measurable actions which will enhance our position and ensure that our policies across Government are framed in a coherent way that recognises the importance of entrepreneurial activity. This will support the next generation of entrepreneurs who will establish, lead and manage great Irish businesses that offer employment creation and sustainable economic growth. The Government needs to be sure that it has put in place the optimal conditions for entrepreneurship to flourish, and to this end is initiating this public consultation process. We welcome the opportunity to hear constructive suggestions and advice from all interested parties, so that we can ensure that we have the best conditions in place for entrepreneurs to grow businesses from small seeds to compete in ever more challenging markets.

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15
May 13

EI trade mission begins in the Czech Republic and Poland.

John Perry A four-day Enterprise Ireland trade mission to the Czech Republic and Poland aimed at growing exports to Central and Eastern Europe begins this week.

The mission, which is being led by Minister for Small Business, John Perry, will see 25 innovative Irish companies travelling to the Czech and 37 on their way to Poland. Companies on the trade mission include high-growth start-ups and medium-sized Irish companies in sectors including ICT, high-tech manufacturing, construction and financial services.

The objective of the trade mission is to raise Ireland’s profile with key business and government contacts in the region. It will seek to promote the capabilities of Irish companies in the engineering, electronics and software sectors to multinational companies based in the two countries.

Over the course of the four days, 11 Irish companies are set to sign significant contracts with Czech and Polish companies. During the programme Minister Perry will attend 16 trade events, business meetings and corporate networking events in Prague and Warsaw.

“Poland and the Czech Republic are key target markets for Irish companies operating in the ICT, high-tech manufacturing, construction and financial services sectors,” he said. “As the economies in these markets continue to grow, so too do the opportunities for Irish companies to deepen their involvement in these markets and win new business.

“I am confident that through the intensive series of meetings planned for the next four days, we will help
to open doors and capitalise on opportunities for these innovative and ambitious companies, helping them grow their export sales and create and sustain jobs in Ireland.”

Exports of Irish-owned companies to the Czech Republic increased by 65pc over the past five years to nearly €50m in 2012, while total exports from Ireland to Czech Republic exceed €600m.

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10
Feb 13

Using State property to help business start-ups – Hayes

Junior finance minister Brian HayesMinister of State Brian Hayes, TD, Minister of State at the Department of Public Expenditure and Reform, with special responsibility for the Office of Public Works (OPW) today welcomed the opening of a new venture, iCompany and wished the company well with its start-up jobs initiative.

iCompany is a not for profit company that approached the OPW to enquire about the availability of accommodation which could be made available to them. A State owned building – 59 Dawson Street in Dublin had recently become vacant and as a new occupant had not been identified, it was decided to facilitate the venture through the use of the building on a pilot basis.

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