Call for State to be aggressive in incentivising entrepreneurs

The State should be as aggressive in incentivising entrepreneurs to move to the Republic

 

egohan mc

and establish businesses as it has been in luring multinationals to set up operations here over recent decades.

This is according to Eoghan McCabe of Intercom, the Irish-founded “tech unicorn”, which is widely regarded as one of the country’s biggest success stories in recent years.

Mr McCabe, who recently stepped down as chief executive of Intercom and is now its chairman, was speaking in the wake of moves by several European countries to offer increased incentives to entrepreneurs as a response to the coronavirus crisis, and as foreign direct investment flows (FDI) decline.

Mr McCabe, who has just moved back to Dublin after living in San Francisco for the past 10 years, where Intercom is co-headquartered, said more needed to be done to support entrepreneurs, including in terms of tax incentives.

Taxation policies
“Government bodies and policies need to catch up to the fact that there is a generation of Irish people and also some entrepreneurs from other countries who want to start businesses here. I think that to support this we require different types of taxation policies, including looking at how stock options are treated and at entrepreneur relief,” Mr McCabe told The Irish Times.

His comments come as Germany recently unveiled new legislation on stock options to incentivise start-up investment by giving employees a chance to hold shares in the company they work for. France and Britain have also recently introduced reforms to encourage tech talent to their countries and to more effectively compete with the United States.

A large number of leading tech entrepreneurs including Stripe’s Irish chief executive Patrick Collison and Revolut founder Nikolay Storonsky, last year called for pan-European reforms on share schemes.

Mr McCabe said he had no interest in seeing entrepreneurs being given “free cash”.

Source:Irish Times

Share

JOIN OUR MAILING LIST

Contact Us

South East BIC CLG.
Unit 1B, Industrial Park
Cork Road, Waterford
X91 DT38

Tel: +353 51 356300 

Registered Charity no. 20036706


 

Social Share

Our Partners

 

 

We use cookies to improve our website and your experience when using it. Cookies used for the essential operation of the site have already been set. To find out more about the cookies we use and how to delete them, see our privacy policy.

I accept cookies from this site.

We use cookies to improve our website and your experience when using it. Cookies used for the essential operation of the site have already been set. To find out more about the cookies we use and how to delete them, see our privacy policy.

I accept cookies from this site.