Ireland was named top performer in the area of skills and innovation in the European Commission’s Small Business Act Fact sheet 2017.
The latest ranking builds on Ireland’s leading international reputation for innovation. The European Commission’s 2017 Innovation Scorecard also ranked Irish small and medium sized enterprises (SMEs) first for innovation.
Small Business Act (SBA) Fact Sheets are produced annually by the European Commission, with the aim of improving understanding of trends and national policies affecting SMEs across the European Union. The SBA is the EU’s flagship policy initiative to support SMEs and focuses on key performance indicators and policy measures organised around 10 principles, including entrepreneurship, internationalisation, state aid and public procurement.
Ireland’s SBA profile continues to be competitive, with the EU Commission’s 2017 Fact Sheet showing significant improvements on last year’s performance.
Ireland is one of the top four EU performers in entrepreneurship and has the highest EU score in two separate entrepreneurship indicators. On the high status given to successful entrepreneurship, Ireland records the highest percentage in the EU (83.1 %) compared to the EU average (66.6 %). Ireland’s pro-business environment is also evident in the Fact Sheet’s finding that it has the least burdensome government regulations in Europe
In eight of the SBA areas — entrepreneurship, ‘second chance’, ‘responsive administration’, state aid and public procurement, access to finance, single market, skills and innovation and internationalisation — Ireland performs above or well above the EU average.
Earlier this year, Eurostat research found that Ireland has the highest proportion of high-growth enterprises in the EU, ahead of the UK, Portugal, Hungary and Bulgaria.
Customers and partners of Irish companies worldwide leverage this innovation to increase efficiency and productivity in ways that enhance their product portfolios.
The Irish government continues to put innovation at the top of its agenda with the implementation of its Innovation 2020 strategy.
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