Current Work Life Transformation of Ireland

In the 1960’s and 1970’s there was an era of social transformation, as diverse new groups of members of society – women, minorities, youth, immigrants and the disabled – challenged government, business and other traditional institutions. The period in time brought social disruption which was then followed by a period of technological disruption in the 1980’s and 1990’s. During this time, personal computers entered the market place and the internet laid the foundation for the growth of entrepreneurial activity.

With growing digital infrastructure it reduced the costs of starting and running a business and opened new markets and industries to small business.

Locally and globally the corporate world is experiencing the completion stage of what was started in the 1960’s.

Immigrant entrepreneurs frequently have contacts in their native countries as well as Ireland. This provides them with the opportunity to create businesses that link markets. The internet and other connective technologies enable these businesses to be both global and local, and to source materials and goods in one market to sell in another.

In his book, The World is Flat, Thomas Fredman claims, “We’ve entered the third phase in globalization”, which he calls “Globalisation 3.0”

He describes Globalisation 3.0 as “the newfound power of individuals to collaborate and compete globally. With cross-border skills and contacts, immigrants with small businesses are leveraging the internet and connective technologies to exploit global trade opportunities. This is creating a new wave of small business globalization, and creating broader and deeper economic links across the globe.”

Since the 1990’s, the foreign born share of the Irish population has grown substantially, resulting in a strong increase in immigrant –formed businesses.

CSO statistics show that already, foreign owned enterprises, representing just 11% of the total number of enterprises in Ireland, contribute to nearly half – 43% – of the total turnover for Ireland of all enterprises.

How this segment of Irish society performs over the next decade will depend on Irish Immigration policy. However, regardless of the changes in immigration policy, small business formation by immigrants will continue to grow. Connective technologies will continue to grow in strength and links between Ireland and other economies, cross – border trade will increase and growing numbers of immigrant entrepreneurs will continue to drive this new wave of globalization.

While scientific and technological innovation is critical to the economy, it is entrepreneurship that turns innovation into economic growth and jobs.