Enterprise Ireland Clients Add 9,100 Net Jobs

09 Jan 2019 | 01.01 pm

Enterprise Ireland Clients Add 9,100 Net Jobs

18,450 job gains and 9,740 job losses

09 Jan 2019 | 01.01 pm

The numbers employed at companies funded by Enterprise Ireland grew by 4.4% in 2018 to 215,200 people, according to agency estimates.

The agency said that clients created 18,450 new jobs and shed 9,740 jobs through 2018, for a net gain of 9,100.

Enterprise Ireland received Exchequer funding of €122m in 2018. For 2019, funding has been increased to €153m, made up €87m to fund agency staff pay and overheads, and €66m for various types of business supports.

Eighty two new High Potential Start-Ups  were approved for funding in 2018. HPSUs are defined by their potential to become exporting businesses that have 10 staff and €1 million in sales within three years of starting. Fourteen HPSU approvals went to fintech startups in 2018.

EI said that 22% of HPSU approvals went to female-led companies in 2018. It was the third year of activity for Enterprise Ireland’s dedicated €1 million CSF for Female Entrepreneurs which runs in tandem with a tailored female accelerator, ‘The Innovate Programme’. A call for the 11th cycle of Going for Growth was also opened for ambitious female entrepreneurs looking to scale their businesses.

EI chief executive Julie Sinnamon  commented: “Today’s results suggest that we have yet to see a significant impact of Brexit on Irish companies. However, as the March 29 deadline approaches, we would anticipate that 2019 will be a challenging period for some Irish exporters.

“Ongoing doubt about the outcome of the Brexit negotiations, currency volatility, transition arrangements, customs/logistics and potential delays in investment activity are key concerns for exporters.

“While 85% of our clients have taken Brexit actions, our continuous efforts to support our clients to innovate, diversify and compete will ramp up so that Irish businesses are equipped to mitigate against the fallout of Brexit and build on the strength of the 2018 results.”

The agency, which said it approved funding of €74m for 535 of its Brexit-exposed clients last year, is working with exporting clients on a one-to-one basis in respect of Brexit contingency plans.

 

Photo: EI chairman Terence O’Rourke with Julie Sinnamon (left) and minister Heather Humphreys (Pix: Shane O’Neill)

 

 

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