A survey of people who founded businesses in Ireland shows that the majority consider the application process for grant funding, debt funding and research funding to be complex or very complex when accessing the appropriate supports for scaling.
According to the Founders Report, from business group Ibec, more than a third of respondents said they did not use the R&D Tax Credit scheme, citing administrative burden, associated costs, and structure as barriers to access.
Similar to the challenges faced by established businesses, founders also reported that they are grappling with high operating and staff costs.
Among the recommendations in the report is a call from Ibec for a unified strategy to support a cross-sectoral and skills-based founder ecosystem in Ireland.
Other recommendations include better streamlining of funding access, incentivising R&D, and helping founders navigate complex regulatory and compliance landscapes.
"Often, founders navigate the different stages of their growth alone, with limited support and overwhelmed by where to access the right resources," said Sharon Higgins, Executive Director of Membership and Sectors, Ibec.
"While we have punched well above our weight in terms of founder-led companies, we cannot be complacent," she said.
"Therefore, it is crucial to support these brave business owners to grow, regardless of their growth stage," she added.
The founders survey was conducted between January and February 2024, and 70 companies responded
