One in seven people in Ireland aspire to start a business in the next three years, according to the latest Global Entrepreneurship Monitor Report.

Ireland ranks third in Europe for entrepreneurs with 'high jobs growth' expectations.

The report revealed an increase in youth entrepreneurship - the proportion of 18 to 24 age group that are early-stage entrepreneurs was 16.4% in 2021, up from just 6.7% in 2018.

It also found that Ireland has the third-highest rate for early-stage female entrepreneurs across European countries.

On climate action, the Global Entrepreneurship Monitor found that more than three in five Irish entrepreneurs are trying to minimize the environmental impact of their business.

Leo Clancy, Enterprise Ireland CEO, said, despite the challenges of recent years the GEM report reveals a positive picture of entrepreneurship in Ireland.

"Just over 10% of early-stage Irish-based entrepreneurs are ‘born global’ with more than 75% of revenue coming from customers outside of Ireland. This places Ireland joint third in Europe on this measure."

Mr Clancy said Enterprise Ireland will continue to support the exporting and job creation strategy of these internationally focused businesses while also working closely with other start-up businesses to encourage exporting potential and ambition across the ecosystem.

"It is also important to recognise the commitment to both sustainability and digital adoption revealed in the GEM report," he said. "These vital issues are core to Enterprise Ireland strategy to ensure Irish businesses continue to compete and win in international markets."

Tánaiste and Minister for Enterprise, Trade and Employment, Leo Varadkar, said he believes that anyone with a good business idea, no matter their background, should be able to start and grow a company in Ireland.

"Still, there is plenty we need to work on," the Tánaiste said. "Government will examine this report in detail and work with entrepreneurs and business leaders to help more people both start and grow a company in Ireland."