Entrepreneurship Forum opens discussion on tax change

A key place in any discussion on job creation in Ireland must be reserved for entrepreneurship, and the conditions it needs if it is to properly flourish.

'Two thirds of all new jobs come from start-up businesses in the first five years of their existence,' said Minister for Jobs Richard Bruton at a recent event. 'Entrepreneurs are the heroes of the economy, creating businesses, jobs and growth from which the rest of us benefit, and Ireland has some amazing entrepreneurs, but not nearly enough.'

Such a glowing admission is encouraging, and one would hope that the government pay heed to a list of recommendations presented at The Entrepreneurship Forum this week.

A report put forward by the forum contained 69 recommendations in all. They included:

• A long-term flat rate of tax for entrepreneurs
• The use of unoccupied and Nama buildings for co-working space
• A national education strategy for entrepreneurship at all levels of the education system
• Tax incentives for investment in enterprise
• Mandatory training in commercialisation of business ideas for all third-level STEM (science, technology, engineering and maths) students

Speaking on the report's list of recommendations, Frank O’Keeffe, partner-in-charge of the EY Entrepreneur of the Year programme, said: 'The recommendations have struck a balance between short term wins to kick start new businesses and longer term incentives for entrepreneurs to keep their businesses and jobs in Ireland – both of which are critical to build a flourishing entrepreneurial ecosystem across the island.'