As discussed last week, the general outlook in Ireland for start-ups and SMEs (Small and Medium Enterprises) has begun to brighten considerably in recent years with the addition of new funding options and the acceptance of these forms of businesses as being a large and important part of Irish business in the modern age.
This week, it was revealed that start-ups and small businesses have also begun to form a large part of the Irish employment recovery as it was revealed that 3,700 jobs were created last year by these types of businesses, backed by their LEOs (Local Enterprise Offices). These offices are seldom the focus of much spotlight, but are often the key to getting a small business off the ground and keeping it running.
Local Enterprise Offices are run by Enterprise Ireland and specialise in assisting these vital small businesses in Ireland in a multitude of ways, from offering advice, information and guidance to creating a calendar of important news, publications and events for these business owners to be aware of. This provision is of vital importance to these smaller companies which may not otherwise find the support they so badly need to get off the ground. Minister for Trade Pat Breen has been quoted as saying of the offices:
“In a challenging environment, LEO clients have contributed substantially to economic development up and down the country, especially outside of the main urban centres.”
There are 31 LEO nationwide, each providing a wealth of essential services to the start-ups and SMEs in the locality. It was also reported that more than 80 small businesses progressed from LEOs into the Enterprise Ireland portfolio in 2017, meaning that these businesses crossed the threshold into viable businesses with the assistance of their LEOs.
Things appear to be looking up for small businesses in Ireland, and with the support of vital structures like the LEOs we may see a great many more new start-ups and SMEs get their big break on Irish soil.
Should you require any help, advice or guidance on any financial or business matters, please don’t hesitate to get in touch with us here at EcovisDCA, where we will be happy to support you in getting your business to the next level.