Enterprise centres added €1.8bn to economy during 2023
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The community enterprise sector added €1.8bn in value to the Irish economy during 2023 while employing approximately 18,600 people, a new assessment report has found.
The report was conducted on behalf of the Community Enterprise Association Ireland (CEAI) which sought to highlight the value created by enterprise centres and innovation hubs nationally.
It analysed the economic contribution of these centres and hubs as well as their tenants and clients supported in rural and urban areas.
According to the report, there are approximately 3,500 tenant and climate companies located in these centres supporting 18,600 jobs.
There are also 462 people employed directly in the management and operation of these locations.
CEAI chief executive Siobhán Finn said the report highlights the “importance of community enterprise centres and enterprise hubs in growing micro-businesses, SMEs, and high potential start-ups”.
“This contribution to regional economic development in rural and urban Ireland is hugely significant, as is demonstrated by the gross added value of the sector valued at €1.8bn in 2023.
"The insights provided in this report highlight the sector’s significance and suggest the importance of continued investment and additional support for the sector,” she said.
The report also acknowledged the contribution of unpaid voluntary work to the sector.
“Volunteer management arrangements are a recognised characteristic of the current community enterprise sector.
"Therefore, allowance was made for the fact that some centres are run on an entirely voluntary basis, and economic impact figures were adjusted downwards as a result,” it said.
It assesses the value of this voluntary work to be €125,000 a year.
The report was conducted earlier this year on behalf of the CEAI by The Discovery Partnership with Community Engagement Partners and PMG Consult.
The CEAI said over the last 30 years the community enterprise sector has received investment totalling €200m from Enterprise Ireland as well as the Department of Enterprise.
“The sector has delivered over nine-fold return on this investment,” the CEAI said.
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