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Starting Your Own Business
The level of entrepreneurship in Ireland has historically been high. In 2007, on average 2,700 new Irish businesses were set up every month. In 2008 it was approximately 2,000 per month. In an economic downturn there is little to suggest that this situation will change drastically. Entrepreneurship is an exciting, difficult and worthwhile calling, which needs to be fostered if our present economic situation is to be turned around.
Aspiring entrepreneurs represent an untapped resource with great potential for future development. However, they can be discouraged by the effort required to pull together all the information they need to get started.
A degree of mystery surrounds the process of starting a business. 70% of people who become self-employed do not prepare themselves for their new role and responsibilities. Specifically almost 90% do not study their market and as a result, on average 50% of all businesses fail within five years of starting.
We have prepared some useful downloadable factsheets to help you: