Enterprise Ireland Annual Report More Waste

[Troubleshooter]

Keep an eye on this report coming out this morning, ,Staff costs and overheads will be equal to or exceed grants given to Irish Business .

This is the case most years and it is now time to call a halt to this quango .
Any person attempting to set up a company here in Ireland will tell you that Enterprise Ireland are of little help to them ,they will not invest in the services sector and they give you with volumes of paperwork that make it impossible to set up here .
watch the staff costs in this report and the numbers Enterprise Ireland does create jobs but for themselves.

[bormotello]

Keep an eye on this report coming out this morning, ,Staff costs and overheads will be equal to or exceed grants given to Irish Business .

This is the case most years and it is now time to call a halt to this quango .
Any person attempting to set up a company here in Ireland will tell you that Enterprise Ireland are of little help to them ,they will not invest in the services sector and they give you with volumes of paperwork that make it impossible to set up here .
watch the staff costs in this report and the numbers Enterprise Ireland does create jobs but for themselves.

there is no need to invest into service sector, all investments must to go to export sector

[C. Flower]

there is no need to invest into service sector, all investments must to go to export sector

Some services can be internationally-traded and some services support tourism, which has the same effect on the economy as export.

Having said that, I don't see that Enterprise Ireland needs to back every proposal for services. We only need so many Wedding Planners, if we need any at all.

[disability student]

It's best for Enterprise Ireland be absorbed into IDA as it creates less duplication and more in term of savings along with economics of scope.

[Troubleshooter]

Good god ,did you guys not understand that the services sector is stuff like " IT " "digital " "retail"
" insurance " and many more and that this sector employees more people than another sector ,our exports are huge and are mainly as a result of FDI. That is foreign direct investment ,they are getting huge tax breaks and when they dry up they pull out of Ireland Dell ,Gateway, and many more are now in South East Asia .
Growth has to be in the services sector in order to create jobs and give Ireland a chance .
Enterprise Ireland is a basket case with staff costs more than the grants it gives out .

[Troubleshooter]

The report is out ,they have created a net 6 jobs yes 6 jobs that's some achievement 9000 jobs lost in EI supported companies and 9006 created what a great result for the staff cost of 10million euro when will we Kop on

[Baron von Biffo]

The tone of your comments suggests a personal history with EI Troubleshooter. Would that be the case?

[jmcc]

EI did not create those jobs. EI did not lose those jobs. EI backed some companies that failed. The failure rates for startups are quite brutal and not all startups survive. That's reality. Ireland should have been developing its own companies rather than relying on FDI but then that begging reliance has been the legacy of the pondscum intellect politicians we've over the last decade and more.

Regards...jmcc

[PaddyJoe]

The report is out ,they have created a net 6 jobs yes 6 jobs that's some achievement 9000 jobs lost in EI supported companies and 9006 created what a great result for the staff cost of 10million euro when will we Kop on

You're correct about the net 6(six) jobs created, Troubleshooter. That statistic wasn't exactly highlighted in the media reports today.
Cost per job supported is estimated at 12,054 euro.
See pages 6 and 7 of the report here:
http://www.rte.ie/news/2012/0627/ent...landreport.pdf

[Troubleshooter]

Never had any dealings with EI , the do not give much help to start ups ,the facts are that companies that they invested in have lost 9000 jobs and companies that they invested in last year have produced 9000 jobs .This is known as CHURNiNG

What is the story with staff costs it is more than investment given to Irish companies

[jmcc]

Never had any dealings with EI ,

Do you run your own business or are you just an employee? (The perspectives tend to be very different.) EI, from what I remember, used to deal with export driven businesses while IDA dealt with internal market businesses.

the do not give much help to start ups

There's the local enterprise boards (city and county) for small business type startups but EI is aimed at a level above that. EI, again from what I remember, do try to help startups and have been deeply involved in those Entrepreneur Platform/hothouse type programmes to convert lifer academics and permanent employee with a business idea into walking, talking entrepreneurs with a chance for survival. However it does take more than that to survive as an entrepreneur and most lifer academics and permanent employees don't have what it takes to survive the high level of uncertainty of building a sucessful startup.

,the facts are that companies that they invested in have lost 9000 jobs and companies that they invested in last year have produced 9000 jobs .This is known as CHURNiNG

Really? It is not called "churning". The correct business terms are "churn rate" or "attrition rate". But it is more correctly applied to employment turnover rates in businesses or sectors. In this case it would be hard to classify all businesses that EI invested in as a single unit because they are at different stages of their development and in different sectors.

What is the story with staff costs it is more than investment given to Irish companies

Not all Irish companies are worth, from EI's view or a VC's (that's venture capitalist rather than Viet Cong), an investment. This is often because they are not capable of expanding and employing more people and thus making more profits. Most small businesses exist to provide employment for their employees.

EI also has to liase with large foreign companies to try to get them to invest in Ireland. However it also provides training and help to companies that wish to expand into other markets. It also tries to identify what it calls High Potential Startups that will trade internationally and sometimes these are involved in services. EI has its failings but if they identify your business as a HPSU, then it will try to move heaven and earth to help you. Unfortunately most small businesses are not HPSUs.

Sometimes, and this is very often lost on people outside of startups, the most valuable thing is not investment but contacts (and knowledge) in the relevant market and EI has a lot of contacts.

Regards...jmcc

[Baron von Biffo]

What is the story with staff costs it is more than investment given to Irish companies

Pay costs - €65m

Funding for enterprise development - €197m

[jmcc]

Pay costs - €65m

Funding for enterprise development - €197m

Yep Baron but that also includes training/consultancy perhaps as well as investment. The point that I made above is that EI doesn't just do investment and this is often lost in the righteous indignation.

Regards...jmcc

[Troubleshooter]

Heaven help us in 2011/2010/2009 EI posted a net loss of jobs ,and this from a development agency ,most start ups run a mile from EI as they are full of red tape and have no understanding of the new business sectors ,it should be merged with FAS /Solas/IDA. And VEC to creat one large development body that joins up all employment and investment programmes

[jmcc]

Heaven help us in 2011/2010/2009 EI posted a net loss of jobs ,and this from a development agency ,

Obviously you missed the economic catastrophe of recent years.

most start ups run a mile from EI as they are full of red tape and have no understanding of the new business sectors

Do you know anyone involved any startups? EI is not a Dragons Den type operation. While EI does have a lot of paperwork, it does seem to identify new business sectors quickly. Reading the Irish Times 'Innovation' supplement does not give one a good overview of the stresses and risks involved in startup businesses. You really have to do it to understand what is involved. The reality is that a high percentage of startups will not make it past the first five years of operation. The process is utterly Darwinian and even then, some good businesses don't survive.

it should be merged with FAS /Solas/IDA. And VEC to creat one large development body that joins up all employment and investment programmes

The fact that you missed the county and city enterprise boards (they are important for small local businesses) would lead one to think that you haven't much of a clue about startups or their requirements.

Regards...jmcc