TÁNAISTE PRESENTS THE GALWAY CHAMBER OF COMMERCE AND INDUSTRY/ERNST & YOUNG BUSINESS AWARDS

Mary Harney, Tánaiste and Minister for Enterprise, Trade and Employment today (Friday, 16th October, 1998) presents the Galway Chamber of Commerce and Industry/Ernst & Young 1998 Business Award in the Galway Bay Hotel, Salthill. Details of the winner and finalists are appended in the Notes for Editors.

This Business Award is designed to acknowledge the achievement of developing companies which are between 2-7 years in existence and have a particularly successful track record in their early stage of development.

Speaking at the presentation the Tánaiste said "having an Award such as this encourages a wide range of companies to aim higher in the targets they set for themselves. This is very positive. It is well recognised that, in order for business to survive today, it must have demanding targets and be prepared to meet the challenges of competitiveness and technological change. Innovation is perhaps the key factor driving current business growth. The link between innovation now and increased sales and profitability in the future is well established.

"As the Government's lead organisation in supporting indigenous industry, Enterprise Ireland has as its mission the building of competitiveness and capability in Irish industry by providing a comprehensive range of financial, technological, business and marketing supports designed to facilitate Irish companies achieve the Government's core objective of increased sales exports and employment."

"As you are all no doubt well aware, Enterprise Ireland's Regional staff are constantly dealing with the issues of employment and job creation at local level, working with individual promoters and groups interested in setting up new enterprises."

"An analysis of the relative geographical employment growth patterns of Enterprise Ireland client companies over the last four years, clearly shows that the main growth has taken place in the West (+20%), with Galway growing particularly strongly."

"A dedicated programme for development of the Internationally Traded Services sector was launched by Enterprise Ireland in the West two years ago. It has been a definite success as Internationally Traded Services are now the fastest growing sector in the West Region. The number of active enterprises, assisted by Enterprise Ireland in this sector, has increased from 14, at the end of 1993, to 45 at the end of 1997, and the numbers employed by these companies have grown from 213 to 538 people over this period."

Concluding the Tánaiste congratulated the companies who participated in the competition and wished them and the winning company continued success in the future. She commended the Galway Chamber of Commerce and Industry together with Ernst & Young on their efforts in organising the business awards.