Enterprise Ireland
Annual Report and Accounts 2006
Annual Report and Accounts 2006
Enterprise Ireland client companies achieved €1.699 billion in new export sales in 2006. This represents a significant outcome in the second year of our three-year strategy Transforming Irish Industry 2005 - 2007.
Our clients made significant gains in 2006 despite the challenges of the world economy and ever-increasing international competition. More Enterprise Ireland clients are now embracing a business model centred on in-depth market knowledge, an embedded culture of innovation and a real desire to internationalise as rapidly as possible. Our clients continue to win overseas business because of their commitment to R&D, to increasing productivity, and to improving the management capabilities critical to competing successfully against global competition.
The progress our client companies have made shows that Irish-owned enterprises have the ability, ambition and commitment to make success the norm as they develop products and services capable of winning on the world stage. We remain steadfastly committed to supporting them as they maintain their focus on winning new export sales.
Sustained progress against our three-year targets
2006 was the second year of our three-year strategy Transforming Irish Industry. The strategy sets out five challenging targets to support the development of indigenous industry to year-end 2007.
The targets cover the areas of start-up activity, company R&D spend and productivity improvements. Each of these contributes to the overarching objective of indigenous industry growth, as measured primarily by increased exports. Through the provision of tailored supports and a structure that facilitates delivering on client needs, the strategy is designed to maximise opportunities for growth across all sectors. Over the first two years of implementation all areas of the organisation have worked to deliver effectively on the five strategic targets.
Two thirds of the way through its implementation I am pleased to report that the 2006 performance reflects a second sustained year of progress. While we remain on course to achieve all of our three-year strategic targets by year-end 2007, international competition remains intense. The strong focus now within Enterprise Ireland is working with our clients to deliver success in 2007.
The challenges set by our strategy necessitate a highly competent staff and an efficient organisation channelled effectively towards meeting clients' evolving needs. To this end, a number of organisational developments took place in 2006.
The Minister for Enterprise, Trade and Employment, Micheál Martin, T.D. announced that the functions relating to indigenous enterprises in the Mid West region would revert to Enterprise Ireland from 1 January 2007. Establishing a strong Enterprise Ireland presence in the Mid West is a very positive development and a demonstration of our commitment to the ongoing growth and internationalisation of Irish companies in the region. I welcome our new colleagues from Shannon Development. The skills and experience they bring to the organisation both at a regional and national level will greatly benefit Enterprise Ireland and our client companies.
A new Enterprise Ireland base of operations will be established in Shannon, consisting of the activities relating to indigenous enterprises, and the relocated Enterprise Ireland National Regional Headquarters. In addition, I am confident that the establishment of the County Enterprise Board Support Unit in Shannon will strengthen enterprise support throughout the country.
