Enterprise Ireland
Annual Report and Accounts 2004
Annual Report and Accounts 2004
Globalisation has presented Irish companies with unprecedented access to international markets. It has also brought significant competitive pressures to Irish companies that face increased input costs and shortages of capacity, skills and labour. The slowdown of the world economy since 2001 and increased competition from lower cost economies, such as China and Eastern Europe, has added to the situation.
A major factor contributing to increasing competitiveness is improving productivity. The direct link between the two is therefore an area of crucial importance to Enterprise Ireland clients. It is our aim to assist our client companies to enhance productivity levels in order to directly strengthen their international competitiveness.
In 2003, a new fund was set up specifically aimed at improving the competitiveness of small and medium sized companies through gains in output and productivity. The Competitiveness Fund supported 97 individual company development projects in four different categories: capital; improvements in operations; employment of key personnel and training.
Following this success, a new initiative, The Productivity Improvement Fund, will be launched in 2005. It will be dedicated to supporting advancements in productivity that will lead to enhanced corporate competitiveness and exports. Funding will be available for productivity improvements through investment in capital, technology acquisition and management development and training. It will support projects that increase the gross output and exports of clients, while providing new employment or maintaining existing employment in Ireland. The fund will be accompanied by an optional benchmarking service from Enterprise Ireland which clients can use to help measure their productivity levels.
