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Stimulating Entrepreneurship

Stimulating Entrepreneurship. Paul Mc Carthy, Teagasc Rural Business Specialist. Efficiency & Scale at Farm Level Off Farm Employment Harsher Economic Climate Rural Enterprise...the answer?. Setting the Scene. Rural Business Programme - Objectives. Encourage new ideas

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Stimulating Entrepreneurship

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  1. Stimulating Entrepreneurship Paul Mc Carthy, Teagasc Rural Business Specialist

  2. Efficiency & Scale at Farm Level Off Farm Employment Harsher Economic Climate Rural Enterprise...the answer? Setting the Scene

  3. Rural Business Programme - Objectives • Encourage new ideas • Offer practical help - business idea into a reality • Motivate individuals to take an innovative approach to new business

  4. Teagasc Approach • Teagasc Options Programme • 6% interested in diversification • 6,000 farmers nationally • Rural Business Innovation Course • Idea Generation • Developing Idea - Business Plan • Fetac Accreditation • Follow up Mentoring

  5. Rural Business Courses to Date.. Outcomes • 310 Participants • 100 Business Plans • 60 Businesses Approx

  6. Areas of Diversification • Agri & Agri Services • Fertiliser spreading • Turfgrass • Hedge cutting & laying for REPS • Stone wall building • Animal husbandry services • Herd register / cross compliance services • Producing Rare Breeds • Market gardening • Manufacturing • Woodwork – gates, kitchens, windows • Metal/iron works • Concrete moulds • Toy farm sets

  7. Areas of Diversification..contd/ • Tourism • Heritage farms • Farm tours • Self catering • Guesthouse – B&B • Mill - visitor centre • Genealogy • Boat marina • Tourism websites • Retail • Garden ornaments • Farm shop • Box schemes

  8. Areas of Diversification..contd/ • Services • Landscaping • Computer training • Rural taxi • Handmade wedding stationary • Boarding kennels • Care of the elderly • Childcare • Re-enamelling old cookers • Energy / Environment • Wood chipping • Timber & turf distribution • Wood pellets • Eco heat

  9. Areas of Diversification..contd/ • Food • Artisan cheese • Free range eggs • Party / family events catering service • Ice creams and sorbets • Yogurts • Speciality breads & cakes • Organic salad oils • Soups • Tray packed meats • Equine • Livery – B&B for horses • Arena’s, Cross Country Courses

  10. JFC Innovation Awards for Rural Business • Competition aimed at rural & farming community • Business Development & Business Plans • Benefits to Participants • Generous Prize Fund • Judging & Feedback • Follow-up support • 72 Entrants - A Good Study Sample

  11. Entries Environment / Energy Manufacturing/ Technology Tourism / Value Added Food / Services

  12. Enterprise / Stage of Business Analysis

  13. Strengths • Determined & Focused • Tuned into Consumer Trends • Solving a Problem • Network & Contacts • Multi Skilled • Assets & access to capital • Working Prototype • Traditional - Local Needs…

  14. Challenges • Making Time • Market Research & Developing Idea • Consumer Needs • Marketing • Finance • Product Ideas – “Lacking Business” • Manufacturing at scale • Distribution • Exposure to Enterprise • Lack of Belief & Confidence

  15. Overcoming the Challenges • New Skills needed – Training • Farmers learn from farmers • Initiatives - Innovation Awards • Promotion - Media • Farmers Markets • Clusters

  16. Conclusion • Large Interest in Rural Business • Farmers - good entrepreneur potential • New Skills needed • Farmers - influenced by other farmers • Clusters - Sustainable Way • Promote the “Winners” – Grow Confidence

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