“Innovation Key to Galway’s Economic Rebirth”
Economist says city is successful hub but indigenous companies vital
Economist Stephen Kinsella says Galway’s success in attracting international companies must be matched by developing innovation among indigenous companies.
“The Galway region is a successful hub for entrepreneurship and innovation in key areas like medical devices and software development. This success is not commensurate with the level of unemployment in the area. Over 250,000 people of all ages live in the Galway area. In October 2013, more than 20,000 of them were unemployed.”
Kinsella was speaking ahead of an event in Galway, which looks at how to drive growth among the SME sector.
The University of Limerick Lecturer says, “One way out of our current difficulties is through entrepreneurship, through SME development and by using the tools developed by BDO Limerick to ensure companies are export ready, have new sales pipelines and have their business tuned for when the economic tide turns.”
BDO Limerick bring their event, Future Proof your Business, to Galway this month where the focus is on promoting growth in the indigenous SME sector. Partner Diarmuid Hendrick says SMEs are the future of Ireland’s economic stability.
“There are 180,000 small and medium enterprises in Ireland, employing more than 900,000 people. That’s 69% of the workforce, worth more than 40 billion euros to the Irish economy every year. SMEs are the drivers of Irish economic growth over the short and medium term.
Diarmuid Hendrick says the evidence from the Galway/Shannon region suggests there are significant potential growth companies that just need that extra push to create new jobs and break international markets.
“But there is a deep uncertainty to take that extra step forward. We have launched a series of regional events aimed at Irish companies who are at growth stage and who want to take a significant step forward in their business. We are delighted that Stephen Kinsella is on board to give an up to date picture on the economic landscape both at home and abroad. Our next event is in Galway later this month.”
Future Proof your Business is a free event and takes place in the G Hotel Galway on Thursday 21st November from 6:00pm-8:00pm. You can register your interest now by logging onto www.bdo.ie or by emailing email@example.com. You can also find out more by calling 061- 414 455. Download your free invitation at the link below.
Ger Holliday, Partner BDO Limerick; Stephen Kinsella, Senior Lecturer Kemmy Business School, UL and Liam Hession, Partner BDO Limerick