Enterprise Ireland
Annual Report and Accounts 2004
Annual Report and Accounts 2004
An essential element of Enterprise Ireland’s strategy is to support the growth of Irish companies to a scale capable of competing successfully in international markets.
A dedicated Scaling Division: Enterprise Ireland has embarked on an unprecedented initiative to accelerate the growth and development of scaled companies. We have established a dedicated Scaling Division that is resourced to work with an identified group of small to medium-sized enterprises (SMEs) to assist their growth into large, international companies. This initiative arises out of discussions with client companies and our own international research.
Scaled companies – companies with an employment level of 200 – 250 - play a key role in the continued economic growth of Ireland’s economy. They are international, self-sufficient companies with steady growth, stability and profitability. Such businesses strengthen the indigenous sector, bringing exports, jobs and security to the country.
Over the past number of years, there has been a small number of Enterprise Ireland client companies which have achieved scale. This trend is the same across Europe. Enterprise Ireland aims to take a pro-active role to help increase the number of scaled companies emerging in Ireland.
A groundbreaking approach: The challenge for Enterprise Ireland is to bring about a step change in the rate of scaled company creation while maintaining headquarters and a substantial presence in Ireland. By working effectively with our clients, we hope to develop an innovative, productive and scaled enterprise base – one that generates high value-added activities for the Irish people.
Potential scaled companies have already achieved sales in excess of €5 million and they tend to have similar characteristics. They adopt a clear and dynamic business strategy, they have knowledge and experience of their markets and they follow a structured approach to innovation. Their management teams also show strong leadership and vision, an open attitude to external advice and good access routes to finance.
Enterprise Ireland will provide scaling clients with sustained, deep support in areas such as innovation, human resource development, access to markets and finance. A unique approach will be used for each company, tailoring the support to each client’s specific needs.