Following extensive engagement and consultation with members, Ibec launched its election manifesto earlier this month. The document outlines the key priorities for Irish businesses as we head into the next general election, be that in the next few months or in the spring of 2025.
“The business community believes that, however difficult the global outlook may seem, Ireland stands on the cusp of an exceptional opportunity,” says newly appointed Ibec president and head of Meta Ireland, Anne O’Leary. “While I am a leader of a large international company, I have always had the privilege of working closely with Ireland’s small and medium businesses. I am acutely aware of the cost competitiveness challenges many of our smaller businesses have faced over the past year.”
The key theme of her tenure as Ibec president will be openness, she adds. “It is a principle that has guided me throughout my career and is fundamental to our economic prosperity, whether in securing new investment, encouraging Irish businesses to internationalise, or in attracting and retaining global talent. Openness to flows of trade, capital, innovation and people will continue to be critical to our future economic success.”
Consideration needs to be given to the factors that drive openness and those that hinder it, she points out. “The global landscape is changing, and we need to intensify our competitive offering if Ireland is to remain open and primed for success. The global stage on which we compete for new investment, and on which Irish companies trade, is becoming more challenging and competitive. We must not become complacent. Throughout my career in tech and telecoms, I have seen how technology can revolutionise operations and unlock growth. We must be open to innovation and the overwhelming opportunities for Ireland of technological change.”
She believes Irish start-ups and SMEs have a unique opportunity to lead in advanced technologies such as AI but there is a risk that a fragmented European regulatory ecosystem could result in Ireland, and Europe, missing out. “We must balance out the challenges associated with fast-paced advancements by providing certainty and reliability in our regulatory environment.”
In that context, she welcomes Taoiseach Simon Harris’s commitment to establishing a Better Regulation Initiative and working with the next European Commission on competitiveness.
Continued gaps in critical and social infrastructure in areas such as housing, childcare and education need to be addressed, O’Leary adds. “Such gaps are posing significant obstacles to the next phase of our economic growth. Investment in public infrastructure is fundamental to creating the conditions necessary for a strong, competitive, and resilient economy. Indeed, as a small island nation, we must continue to be open to the opportunities which transport connections by rail, road, sea and air, bring to our economy, and work constructively with stakeholders to remove any barriers which undermine this ambition.”
Ireland high ranking for third-level education participation needs to be matched by increased investment, she contends. “We are underinvesting in the future of this sector and lagging well behind our competitors in lifelong learning. Many countries have upskilled their workforces and now outpace us in key strategic areas. Ibec’s pre-budget submission is calling on the Government to use the State’s considerable resources to make strategic investments. We cannot afford to delay decisions on how to fund key economic enablers such as higher and further education, access to affordable childcare and unlocking the surplus in the National Training Fund.”
Diversity, equity and inclusion (DEI) issues are close to her heart. “Anyone who has heard me speak over the years, will be aware that this is my passion. I see DEI not just as a driver for better business, but as a foundation for a better society. Events of the last year have convinced me that we need to significantly shift gear. I lead a company in Ireland that employs people from over 100 different countries – all of whom now call Ireland their home. Of the 2.7 million people employed here, 20 per cent are foreign nationals – one fifth of the total workforce in Ireland. Our economic model has delivered because of our success in developing high-performing home-grown talent alongside our ability to attract international talent. Every time our economy has grown, and opportunities have developed, talent has been at the heart of so much of this progress. Going forward, we need to be clear on what we stand for when it comes to diversity, equity and inclusion.”
Looking to the future, O’Leary is optimistic. “Ireland has shown that it can navigate choppy waters and emerge even stronger. What is different now is that we are in an enviable position regarding our economy and the financial resources at our disposal. The challenge is how we use what we have to make the right investments, so that our economy continues to perform for the next generation.”