FORFÁS EVALUATION OF ENTERPRISE SUPPORTS FOR START-UPS & ENTREPRENEURSHIP 1 EVALUATION OF ENTERPRISE SUPPORTS FOR START-UPS AND ENTREPRENEURSHIP 2table of Contents Executive Summary 3 1 Background and Context
Active Labour market Schemes in Finland 149 Appendix II: Grant Evaluation 151 Appendix III: Forfás Board members 154 Appendix IV:
FORFÁS EVALUATION OF ENTERPRISE SUPPORTS FOR START-UPS & ENTREPRENEURSHIP 3 Executive Summary Background Programme of Evaluations for Enterprise Supports The Department of Jobs, Enterprise and Innovation (DJEI) has requested that Forfás
and employment) and capability building in the areas of productivity, management and skills, internationalisation and transformational change.
the County Enterprise Boards and those programmes delivered by SFI that have a'touch point'with enterprise 2 Informed by research conducted by Indecon Consultants 4evaluation of Supports for Entrepreneurship
There is a positive and robust correlation between entrepreneurship and economic performance in terms of growth, firm survival, innovation, employment creation, technological change, productivity increases and exports3.
and to stimulate sustainable economic growth and job creation. Market failure involves a number of different factors.
Ireland's Enterprise Policy Context and Challenges Relevant strategies over the period of review reflect the importance of supporting start-up companies as a means to stimulate economic growth and employment.
and high levels of employment to a situation where unemployment now stands at 14.2 per cent,
including Strategy, Finance, Research & development, Marketing, Human resources and Production. Enterprise Ireland's funding contribution is primarily in the form of equity toward the implementation of a business plan9.
The evaluation found that the impacts from the HPSU package of supports are very positive in terms of survival, sales, exports and employment.
HPSU supported firms were shown also to be particularly resilient to the recession in terms of employment compared to firms generally.
Turnover per employee increased over the period 2004-2010 by 114.8 per cent (turnover in 2010 was circa €256 million for all 199 HPSU clients supported over the period.
Regardless of the year of entry to HPSU, there is generally an upward movement in employment per active firm.
in that the recession of 2008 onwards has had little overall impact on employment per plant11. This compares favourably with the comparator group that saw a decrease of 10.9 per cent in employment per plant over the period 2004-2010.
A Cost Benefit Analysis (CBA) was conducted over a 7 year period for each of the 2005 and 2006 cohorts to establish the impact to the wider economy.
primarily preference shares 10 All Irish owned firms surveyed annually through the ABSEI 11 Enterprise Ireland firms started between 2000 and 2006 with 10 employees
NPRF) FORFÁS EVALUATION OF ENTERPRISE SUPPORTS FOR START-UPS & ENTREPRENEURSHIP 15 Work with the private sector to ensure the availability of funding from other sources for key sectors that are not appropriate for venture capital investment.
including employment, exports etc. The Department of Jobs, Enterprise and Innovation should be cognisant of the financial return to the State through EI-Partner funds28.
employment and feasibility study grants and equity. A survey of CEBS revealed that 44 per cent of management training (excluding SYOB courses)
The economic value of the CEB soft supports depends somewhat on the prevailing economic environment and unemployment levels.
In times of high unemployment, these CEB activities stimulate the use of surplus resources, creating additional wages, profits and tax revenues.
and leaves little scope to make any material savings. Accordingly it is recommended that the level of resources devoted to SYOB supports through the CEBS be maintained at least;
Rationale for interventions Findings The period from 2004-2008 was characterised by low levels of unemployment
and a steep rise in unemployment. The need to focus on productivity enhancements, innovation, knowledge and skills acquisition,
and job creation has remained also constant, and has been reflected in government policy and enterprise supports over the entire period.
and start-ups-through from the CEB supported micro firm that generates employment, to the High Potential Start up that demonstrates greater potential for growth within a relatively short time period.
There is a positive and robust correlation between entrepreneurship and economic performance in terms of growth, firm survival, innovation, employment creation, technological change, productivity increases and exports36.
Research by the OECD shows a positive correlation between the entry rate in a given industry and average labour productivity levels37,
and to stimulate sustainable economic growth and job creation. In general, companies that emanate from entrepreneurial activity are the feedstock for future employment and growth.
The different market failures and enterprise objectives demand different policy responses. For example, information deficits may be addressed by interventions that provide information to entrepreneurs.
In periods of high unemployment, government intervention may be triggered to address the risk that some individuals may become long-term unemployed
Thus, the turnover and employment levels of new firms, export and productivity performance together with their longevity are indicators of a successful entrepreneurial performance. 1. 2 Ireland's Enterprise Policy Context
and Challenges Relevant Government strategies over the period of review reflect the importance of supporting start-up companies as a means to stimulate economic growth and employment.
Unemployment increased from a level of 4. 5 per cent in 2004 to 13.7 per cent in 2010.
and is scheduled for completion Oct/Nov 2012 22 industry and average labour productivity levels. This should be borne in mind in terms of resource allocation to entrepreneurship programmes.
and services in world markets Foster job creation across the regions of Ireland Promote the growth of new sectors with sustainable competitive advantage Inputs Enterprise Ireland contribution predominantly in the form of equity funding
Increased turnover Increased employment High survival rates 26 2. 1 Evaluation Aim The aim of the evaluation is to assess the appropriateness
so for up to 6 years after hiring its first employee FORFÁS EVALUATION OF ENTERPRISE SUPPORTS FOR START-UPS & ENTREPRENEURSHIP 27 Potential Scaling companies;
Growth and Scaling Divisions work with the client to achieve €1m, €3m and €5m, €20m,
and services in world markets in order to foster job creation across the regions of Ireland, promoting the growth of new sectors with sustainable competitive advantage, providing for growth in exports and employment in Ireland.
The evaluation of the programme's impact focuses on the annual levels of turnover, exports, employment and survival rates between 2004 and 2010 for all firms receiving HPSU supports between 2004 and 2006,
as well as in absolute terms), employment, and a comparatively high survival rate. From a methodological point of view, the ideal way to measure 28 the counterfactual
For employment we use the population of Enterprise Ireland start-ups from 2000-2006 with a minimum of ten employees for comparison45;
More recent policy documents emphasise the importance of returning to an export-led growth model and sustainable job creation.
turnover per employee is a more appropriate comparator metric, as absolute turnover and growth in turnover would be expected to vary dramatically between the two groups 45 Start-ups dating back to 2000 were selected as a more robust comparator group to reflect the fact that companies can be trading for some years before receiving HPSU supports FORFÁS EVALUATION
1. 6 Employment 1. 9 2. 8 3. 4 Equity-Ordinary shares 11.6 10.9 7. 0 Equity-Preference shares 59.8 64.2 64.1
28,001, 699 The HPSU team works closely with the Investment Services Division of Enterprise Ireland to identify suitable third party funding for start-up companies.
Strategy, Finance, Research & development, Marketing, Human resources and Production. Financial and nonfinancial supports are provided to companies with a business strategy that encompasses all elements required for business success. FORFÁS EVALUATION OF ENTERPRISE SUPPORTS FOR START-UPS
and the Annual Employment Survey that are published annually by Forfás. There are also performance reviews that take place.
and the Enterprise Ireland overseas team works closely with companies to achieve another major milestone, getting to €1m in sales. 2. 8 Impacts & Outcomes Turnover Total turnover for all HPSU
Total Turnover (2004,2005 and 2006 HPSUS) In terms of turnover per employee, for all HPSUS the rate of increase was 114.8 per cent between 2004 and 2010;
Turnover per Employee, HPSU clients 2004-2006 and ABSEI Comparator Group In order for a more robust comparison with the comparator group, turnover per employee is the most useful metric,
as it controls for the often low levels of employment in start-ups, overcoming some of the selection bias that arises with HPSUS (mostly new firms) vis-à-vis the ABSEI group (mostly established firms).
In terms of turnover per employee (Chart 2. 5), for 2004 HPSUS this climbed 145 per cent between 2004 and 2010;
2006 2007 2008 2009 2010 ABSEI Comparator Grp X as%of Sales All HPSUS 40 Employment HPSUS (2004-2006 entrants) appeared to be more resilient in employment
terms during the period of the recession than the comparator group (Enterprise Ireland firms started between 2000 and 2006 with 10 employees or over) 47.
a significant company started in 2004 with 114 employees and grew to 250 employed in 2005
Employment (2004,2005 and 2006 HPSUS) 2004 2005 2006 2007 2008 2009 2010 Employment 895 1, 711 1, 840 1, 994 2
, 169 1, 969 2, 086 Employment Yr on Yr Growth 91.2%7. 5%8. 4%8. 8%-9. 2%5. 9
Employment (2004,2005 and 2006 HPSUS) Regardless of year of entry to HPSU, there is generally an upward movement in employment per plant.
in that the recession of 2008 onwards has had little overall impact on employment per plant (Table 2. 10). 47 Start-ups dating back to 2000 were selected as a more robust comparator group to reflect the fact that companies can be trading for some years
so for up to 6 years after hiring its first employee. The chart below outlines how survival rates for the HPSU 2004-2006 cohort are consistently higher than all comparator groups this is also true for each individual sectoral group.
employment has grown generally steadily, and survival rates are also above national average. Importantly, the proportion of overall funding committed to companies who do not ultimately survive (18.6 per cent) is lower than the attrition rate for the HPSU population (19.1 per cent;
with the development of viable HPSUS achieved that show excellent performance in terms of survival, sales, 46 exports and employment in a high number of cases.
which target high growth entrepreneurs first emanated from the then Department of Trade Enterprise and Employment's Strategy of 2003 to 2005.
Enterprise Ireland only funds the salary stipend of the entrepreneurs with A high Potential Start-up (HPSU) proposition, that have left employment (have been made redundant
and plan Inputs Organisation and hosting costs Promotional activities Consultant fees Outputs 18 events staged 3 times a year,
The programme is usually run 3 times a year, over 6 weekends (Friday evening and Saturday morning) by third party consultants, taking place either in Enterprise Ireland regional centres or nearby hotels.
Average salary of all enterprise Ireland employees involved was calculated and then weighted depending on the estimated time spent delivering the support.
The programme executives pre-vet the participants for each session the aim is to restrict the number per session to 15.
as is the time commitment required on the part of Development Executives. Over the two years 44 HPSUS/pre-HPSUS have been created,
Inputs Financial commitment of €2m in annual funding from Enterprise Ireland to the Business Innovation Centres (BICS), Projects are referred to the BICS by Regional Development Executives and Development Advisers following
Projects are referred to the BICS by Regional Development Executives and Development Advisers following agreement with the HPSU Validation Unit.
average salary level was established from the employees of the agency working on the project, this figure was adjusted then by the estimated amount of time the 59 Towards Developing an Entrepreneurship Policy for Ireland,
and Consultant fees (PA. Outputs Number of participants, Number of investor ready business plans,(Phase II as proxy) Number of HPSUS.
Outcomes & Impacts Increased numbers of innovative start-ups and companies, Increased exports and employment in participant start-ups and companies, Increased numbers of business/technology ideas successfully developed and commercialised as a result of participation
This evaluation builds on the work completed by Grant in order to provide findings and conclusions on the appropriateness,
and entrepreneurs whose companies will provide the employment of the future as a key element of supporting economic recovery and growth.
and that supporting entrepreneurs and start-ups has a key role to play in Ireland's return to sustainable growth and job creation.
the amount of employees involved and the estimated amount of time the team spent delivering the support.
Propel Recruitment and Selection Criteria Senior manager with 5 years plus experience &/or graduate Participant proposals should have a significant market opportunity,
The selection panel is made up of strategic business development experts from Enterprise Ireland and PA Consulting.
monthly one to one sessions with industry experts, as well as financial support provided through the Commercialisation of Research & development (CORD) fund64.
The same supports were offered with some additional services available such as one to one meetings with sector experts.
Based on the participant figures above the recruitment to Phase I for both Propel One and Two was marginally below the target of 25;
Expor nts Propel O luation of th/technology employment essful develo did assess the nd provides d ain some opt ent:
increased exports and employment are difficult to measure at this point. However, one of the key deliverables for Propel is the number of participants that progress to become HPSUS.
Consultant fees. Partner HEI contribution. Outputs Number of participants industry and academic, Sectors and technology areas covered aligned to enterprise and research base,
Activities Sectorally based networking events, Presentations by industry experts on commercialisation strategies, growth opportunities etc, Structured networking,
and commercialised based on the Ideagen events ultimately leading to increased employment and exports. Increased take-up of supports to promote enterprise development. 82 7. 1 Evaluation Aim The aim of the evaluation is to assess the appropriateness, efficiency and effectiveness of the Enterprise Ireland Ideagen Programme.
and were unable to find new employment. As a result, significant numbers of people were engaging with Enterprise Ireland
As such collaboration with academic and/or enterprise partners is often essential to realise the full potential of innovative business ideas in terms of economic growth and job creation.
and experts on the one hand and on the other to facilitate researchers with innovative ideas to meet up with entrepreneurs who can potentially help them develop and commercialise these ideas.
Salary costs contain the average salary of all the agency employees involved which is weighted then by the amount of time the project leader estimates was spent administering soft support services such as organisation of events,
Presentations by industry experts on commercialisation strategies, growth opportunities etc; Structured networking; Brainstorming sessions; and Information sessions enterprise and research supports etc.
Each event begins with a presentation from the industry expert from Enterprise Ireland who highlights the trends
They arrange the speakers and facilitators for each of the events and work with the Higher education Institutes
and are still in contact with their Regional Executives in Enterprise Ireland. 7. 8 Findings
the Seed Capital and Business Expansion Schemes (recently replaced by the Employment Investment Incentive scheme) and R&d tax credits as well as direct firm level interventions-aimed at supporting the emergence and development of high potential companies.
and over US$3. 1 trillion in revenue in the United states representing 11 per cent of private sector employment and 21 per cent of GDP (2010 data).
The calculation is based on the aggregation of salaries for all staff levels in the first instance.
and the number of agency employees involved in providing the support as determined by the team leader.
Potential for growing and developing business operations in terms of added value/turnover and sustainable job creation; Capacity to use funds for additional investment;
& VC fund managers and sectoral experts who are responsible for raising financing from the private sector, making all investment decisions (based on eligibility criteria) and the ongoing management of investments.
ging business experts with tional growt s to form lar e and the creand Cumula gramme 2010 mpanies to s As such, VC a to companie s a strong ro
Over the medium to longer term, there are also real and positive impacts associated with the programme in terms of employment,
including employment, exports etc. The Department of Jobs, Enterprise and Innovation should be cognisant of the financial return to the State through EI-Partner funds107. 105 Gilson, R. J.,2003, Engineering a Venture capital Market:
Training Management Development Finance Mentoring Enterprise Education Enterprise Promotion Outcomes & Impacts Increased number of Start-ups Increased number of entrepreneurs Increased employment Higher
unemployment and low economic growth in Ireland. It was recognised that micro enterprises (employing 10 or less people) could be a valuable source of employment and economic growth,
and that at that time, there was a gap in the provision of state supports to those enterprises.
Current Costs which covers employee, rent/property and running costs. It is important to acknowledge that the greater proportion of this relates to staff costs (c. 70 per cent)
Measure One Grants-which facilitate the provision of direct financial supports to firms by way of capital, feasibility and employment grants;
Measure Two Grants which covers other costs including the provision of entrepreneurial and capability development through education, training, mentoring, awareness raising and promotion.
Employment grants to meet part of the cost of taking on additional staff. At least 30 per cent of the grants given by a CEB have to be refundable by the recipient.
8, 411,542 8, 190,364 9, 562,910 8, 879,577 7, 040,898 Feasibility 405,859 393,148 351,970 413,044 520,302 622,412 Employment 2, 169,614
Management Development, Training, Mentoring, Enterprise Education and Promotion. These supports are directed at both new and existing businesses
, 689,632 Mentoring 1, 479,388 1, 580,737 Enterprise Education 1, 155,270 978,163 Enterprise Promotion 2, 468,936 2, 512,064 Other 2, 026,008
SYOB financial assistance delivered through capital & refundable grants, employment grants, feasibility study grants and equity grants;
which may be up to €200 per course, with reductions for unemployed persons. Each CEB provides between five and ten SYOB 112 Comptroller And Auditor-General Report on the Accounts of the Public services 2010, Chapter 28:
and analysis undertaken by AECOM consultants, December 2011 FORFÁS EVALUATION OF ENTERPRISE SUPPORTS FOR START-UPS & ENTREPRENEURSHIP 123 courses per annum,
The OECD has established that a large fraction of aggregate labour productivity growth is driven by what happens in each individual firm,
Secondly, at times of high unemployment, where there are unused or underused resources in the economy, start-up activity may utilise surplus resources thereby creating additional wages, profits and tax revenues.
education and training initiatives be focused on the needs in the labour market. The concept of developing entrepreneurs through education and training was echoed again in Towards Developing an Entrepreneurship Policy for Ireland, 2007.
and established firms 121 Numbers of grant applications made under each of the grant categories (capital, feasibility, employment,
498,788 Employment 1, 738,684 1, 641,673 1, 624,415 1, 920,000 1, 749,567 2, 066,978 Priming 0 0 0 0 0
The total input costs (including related staff costs) were estimated as €1, 335,806 for 2008 and €1, 457,518 for 2009.122 For the purposes of this evaluation,
A business employing up to 10 employees; A manufacturing or internationally traded services business; A domestically traded service business with the potential to trade internationally;
or unemployed persons where the potential for deadweight and displacement is likely to be minimal. Eligible clients are awarded a Priming Grant within the first eighteen months of setting up the business.
Employment Grants were for up to a maximum of €7, 500 per employee and a maximum of ten employee C Training & Management Development The CEBS provide Start Your Own Business, Management Development Training and Mentoring services.
Start Your Own Business Training This training is aimed specifically at those seeking to or in the course of starting up a new business.
with reductions for unemployed persons. Each CEB provides between five and ten SYOB courses per annum, indicating that there are currently over 250 such courses offered annually on a nationwide basis 123.
ranging from business and financial planning to HR and employment law, as well as personal effectiveness and leadership management124.
Business Planning Development, Financial Planning and Management, Bookkeeping, HR Management, Market research & Promotion, Business & Employment law, Time Management & Life Work Balance, Sales and Marketing
, Taxation, Website development, Time Management & Life Work Balance, Personal Effectiveness and Leadership Management 130 half-day involvement covering basic skills or information
the vast bulk of the grants made were in respect of capital or employment projects.
Measure1 Projects by Type Business Expansion Priming Capital Employment Feasibility Feasibility/Innovation Preference shares Refundable Grant Aid Grand Total 2004 369 293
Active labour market programmes and market-driven programmes are considered also separately126. Scenario 126 The outcome of a programme targeted at entrepreneurship may be that of securing employment for unemployed persons
or helping individuals to start up a business 136 testing is used then to establish the extent to which the benefits of the SYOB Supports would exceed their costs under different deadweight scenarios.
Active labour market programmes international review In Finland Start-up Grants (SUG) are provided by TE centres which aim to get people out of unemployment and into employment.
The grants are provided to unemployed people, who can demonstrate a solid business plan, for a period of 18 months at a rate of €590 per month (in 2009).
The analysis found that around 80 per cent of participants were still in employment three months after cessation of the NEIS allowance.
With regard to the survival rate of businesses, there were at most 73 per cent of participants in self employment 12 months after cessation of NEIS allowance
while just 52 per cent were still in self employment 18 months after benefits ceased. The evaluation found that 73 per cent of‘survivors'would have started a business without the NEIS scheme,
taking high deadweight and displacement effects into account, was an expensive mechanism for getting people into employment in terms of the cost per positive outcome (about $30, 000).
'Key objectives of both schemes were to reduce unemployment and increase self employment. Evaluation of the deadweight impacts of both schemes suggests they were a success:
In conclusion and based on these preliminary investigations, business support tools to stimulate the labour market are generally a success in reducing unemployment.
However, these schemes often come at high costs, with relatively high levels of deadweight. 127 The Centre for Labour market Research.
or gaining employment without the support programme, they may have a tendency to believe that they would have succeeded without the support.
(UDG) programme UK 57%PA Cambridge Economic Consultants (PACEC)( 1993) Regional Selection Assistance (RSA) Scheme UK 21%Public & Corporate Economic
Consultants (PACEC)( 1998) Business Links UK 38%Hart & Scott (1994) Local Economic Development Unit (LEDU) Assistance Policies to Small Firms in Northern ireland
The Economic Journal, 90 (357). 1980 FORFÁS EVALUATION OF ENTERPRISE SUPPORTS FOR START-UPS & ENTREPRENEURSHIP 139 At times of high unemployment, where there are unused or underused resources in the economy,
however we have looked to job creation estimates for all grant aided firms as an indicator of the scale of impacts.
-which enabled us to derive an average employment for CEB grant assisted firms at 4 FTES134.
profits and tax revenues needs also to take account of the potential for labour market displacement. Our assessment has been informed by Forfás'appraisal methodology for projects seeking support from the industrial development agencies which concludes that no more than 20 per cent of the wage,
profit and tax benefits should be reckoned in the context of tight labour markets135. Based on an average earned income of €39, 000 the annual value of these benefits is estimated at between €12 million
and €24 million depending on the level of employment created by grant aided start-up firm. These are gross benefits
depending on a range of deadweight scenarios and average firm employment levels. Given the robustness of the mechanisms employed by CEBS in the assessment of applications of financial supports (outlined above),
and of 60 per cent is appropriate. 134 Based on 3. 4 full time employees and 1. 1 part time 135 Forfás, The Economic Appraisal System for Projects Seeking
Annual Benefits-different Employment and Deadweight Scenarios (€ m) Deadweight Average Employment per Firm 2 FTES 4 FTES €‘000 per annum 60%4
Comparing the annual benefits to the fully loaded costs indicates that the least favourable scenario would mean that each firm supported would have had to deliver the employment benefits for a period of approximately 3 years
if cost benefit breakeven were to be achieved (based on 60 per cent deadweight and employment levels of 2 FTES per firm.
These calculations suggest that even allowing for a high level of labour market displacement in the period 2004-2010,
Number of Years Required to Pay back Measure 1 Support to Start-up Firms Deadweight Average Employment per Firm 2 FTES 4 FTES Years to Pay back-Measure 1 Grant (including indirect
Associated employment generated; and A brief outline of the sectoral spread. Progression to Start-up Participants of the SYOB courses are a cross-section of existing entrepreneurs who are in the startup phase, self-employed persons, persons in employment, the unemployed,
and those outside the workforce. Table 9. 18: SYOB Participant Cohort SYOB Participant Cohort%Propensity to Start-up%In employment 38.2 54 Unemployed persons 35.8 47.5 Self-employed/proprietors 21.2 20.0 Outside the workforce
4. 8 37.5 Table 9. 19 sets out the impact of the course on participants by year they undertook the course,
Survey of SYOB Course Participants 2011 Table 9. 20 depicts the propensity of persons of different prior employment status to start a business.
Employees are most likely to start a business at 54.0 per cent, followed by unemployed persons at 47.5 per cent and those outside the workforce at 37.5 per cent.
The lowest propensity at 20.0 per cent relates to self-employed/proprietors, which includes entrepreneurs in start-up phase and
Propensity of SYOB Course Participants to Start a Business by Prior Employment Status(%)Prior Employment Status Selfemployed/proprietor Employee Unemployed Outside the workforce All Propensity
With the current rate of unemployment and the existence of unused resources in the economy
Co-operation between CEBS in carrying out other administration and service functions could also ease the imbalance between the staffing of CEBS that has emerged following the moratorium on public sector recruitment.
The total headcount for CEBS declined from a peak of 151 staff in 2006 to 136 staff in 2010 mainly
because CEBS are prohibited from replacing staff by the government moratorium. When account is taken of part-time working,
the total staffing of CEBS in 2011 was 132.1 whole time equivalent staff, an average of 3. 8 whole time equivalent staff per CEB136. 136 Source:
In particular, because of reduced employment levels, labour productivity has shown a significant increase across a range of efficiency indicators.
FÁS'objectives in providing these courses relate to the labour market. If the course succeeds in bringing a person from a position of being unemployed
and out of the labour market to a situation where they are a proprietor of a business,
FÁS has succeeded in its objective of progressing individuals to employment/self employment. Discussions with individual CEBS indicated that
Employees are most likely to start a business at 54.0 per cent followed by unemployed persons at 47.5 per cent and those outside the workforce at 37.5 per cent.
Some 46 per cent of supported firms are either providing personal and local services or are related in construction activities.
Turning to impacts on wages, profits and tax revenues, these additional impacts are likely to be relatively small in the period up to 2008, because of the low levels of unemployment and consequent high levels of labour market displacement.
This translates into potential employment levels of between 10,700 and 21,500 depending on the scale of employment in assisted firms
(and assumes employment of between 2 and 4 persons per firm). Comparing the annual benefits to the fully loaded costs indicates that even allowing for a high level of labour market displacement in the period 2004-2010,
financial aid for start-ups is likely to have paid at least its way in terms of wages, profits and taxes created.
The least favourable scenario would mean that each firm supported would have had to deliver employment benefits for a period of approximately 3 years,
or unemployed persons where the potential for deadweight and displacement is less. Any loose application of these exceptions could give rise to displacement potential.
leaves little scope to make any material savings. Accordingly, it is recommended that the level of resources devoted to SYOB supports through the CEBS be maintained at least;
which is t the funding employment that the pro employed. businesses, t han the Finn sses establish val. vival among Entrepreneur acts of the s a business r the funding.
the regardless ofts FOR STA rket Sch mployment a employment monstrate a e grant was i panded in 20 pplicants for now how to d ncial aid for reviewed;
However, the impact on employment trends in the same period was positive. 137 www. praxis. ee/fileadmin/tarmo/Projektid/..
It provides an overview of participant views on the likely impact of the programme on sales, exports and employment growth.
and 3 other Enterprise Ireland staff making up the Propel Team Representative sample of Enterprise Ireland staff who work with HPSU/Cord
and 1 participant was on maternity leave. 23 participants completed the survey therefore a 92 per cent response rate was achieved.
for instance, using Enterprise Ireland Technical staff to complete a Technical Assessment during Phase I of the programme.
as well as mentoring from industry experts, through a multistage workshop process. The two programmes which are most directly comparable with Propel are the Gateway2investment programme
The Gateway2investment programme works with entrepreneurs and/or researchers in high technology sectors that are seed past the stage and
and draws on the expertise of local universities and industry experts. The High Growth Start-up Programme targets start-ups in high technology sectors and provides coaching
The Regional Attention and Action for Knowledge Circulation programme works to improve interaction and exchanges between SMES
Recent Forfás Publications Annual Employment Survey Forfás April 2014 Costs of Doing Business in Ireland 2014 NCC April 2014 Annual Business Survey of Economic
Impact Forfás March 2014 Regional Labour markets Bulletin 2013 EGFSN March 2014 Action Plan for Jobs 2014 Forfás, DJEI February 2014 Consumer
2013 Global Entrepreneurship Monitor (GEM) 2012 Global Entrepreneurship Monitor July 2013 Annual Employment Survey 2012 Forfás July 2013 Ireland's Competitiveness
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