Report: Community enterprise sector is worth €1.8 billion

A new report has been launched highlighting the value of the enterprise centre and innovation hub sector in Ireland.

Following independent research, the Community Enterprise Association Ireland (CEAI) Impact Report established that the community enterprise sector is worth €1.8 billion each year to the Irish economy, with more 18,600 full time employees.

Enterprise centres and hubs operate across all regions in Ireland, contributing economies at local, regional, and national levels. This is the first report to capture the impact of the sector on Ireland’s economic performance.

Speaking at the launch of the research, Chief Executive of the CEAI, Siobhán Finn, said the report highlights the importance of community enterprise centres and enterprise hubs in growing micro-businesses, SMEs, and high potential start-ups in every county in Ireland.

Ms Finn said: “This contribution to regional economic development in rural and urban Ireland is hugely significant, as is demonstrated by the Gross Value Added (GVA) of the sector valued at €1.8 billion in 2023. The insights provided in this report highlight the sector’s significance and suggest the importance of continued investment and additional supports for the sector.”

The growth of the community enterprise sector has been underpinned by significant investment from Enterprise Ireland and the Department of Enterprise, Trade & Employment over 30 years, as well as more recent funding through the Connected Hubs Network. With an estimated investment of more than €200 million in funding, the sector has delivered over nine-fold return on this investment.