A 10-step strategy to grow Irish businesses

Ireland has earned a strong reputation for drawing in foreign direct investment and nurturing early-stage entrepreneurship. But the country’s long-term economic strength hinges on its ability to grow homegrown businesses into globally competitive, Irish-owned multinationals. While Ireland is adept at launching companies, many promising firms face hurdles in moving beyond initial growth or are sold too soon due to structural barriers that hinder scaling.

This report presents a clear, evidence-based argument for a coordinated national effort to tackle these barriers. Drawing from policy research and market insights, it highlights six ongoing challenges for Irish enterprises: access to finance, skills shortages, internationalisation constraints, limited innovation capacity, an unfavourable business environment, and a cautious approach to risk and growth. Together, these factors dampen ambition and limit the development of globally competitive Irish firms.

Central to the analysis is the “Three Cs” framework — capital, capability, and culture — which outlines the essential elements for scaling success. Capital remains a key constraint, with a notable gap in later-stage funding that pushes many founders towards early exits. Capability challenges, especially in leadership, skills, and experience in managing scale, continue to hinder execution. Culture is equally crucial: a conservative stance on risk, ownership, and borrowing has curbed growth ambition across much of the SME sector.

Our report proposes a 10-point multi-year plan for scaling, offering a cohesive set of reforms across tax, capital markets, talent, innovation, and enterprise policy. Recommendations include:

• creating deeper scale-up capital pools

• reforming capital gains and equity taxation to support long-term ownership

• strengthening employee ownership and talent retention

• enhancing R&D and commercialisation

• simplifying the tax and compliance landscape to free up management capacity for growth. 

Importantly, the plan stresses that scaling must become a national priority, backed by consistent policy signals and a cultural shift that acknowledges and celebrates ambition. By aligning capital, capability, and culture towards a shared goal, Ireland can make the ambition of building large, Irish-owned multinationals a norm — securing jobs, investment, and decision-making at home for years to come.