Galway may be a successful hub for entrepreneurship and innovation in areas like medical devices and software, but this is not reflected by the level of unemployment in the area.
This is the view of economist and University of Limerick lecturer Stephen Kinsella, who pointed out that more than 250,000 people live in the Galway area, but as of October 2013, more than 20,000 were unemployed.
Mr Kinsella was speaking ahead of the Future Proof your Business event in Galway, organised by chartered accountancy company BDO Limerick, which will look at how to drive growth among the SME sector.
He argues that “innovation is the key to Galway’s economic rebirth” and that supporting and growing indigenous companies is vital.
“One way out of our current difficulties is through entrepreneurship, through SME development and by ensuring companies are export ready, have new sales pipelines and have their business tuned for when the economic tide turns,” he said.
Mr Kinsella also warned against “loading further austerity” on Ireland, now that the Troika is set to leave the State.
Future Proof your Business is a free event which takes place in the g Hotel on Thursday November 21 from 6pm to 8pm. Those interested in attending should see www.bdo.ie, email [email protected], or call 061 - 414 455.