Minister for Enterprise, Trade and Innovation, Batt O‘Keeffe, launched a new export initiative this week called ’Graduates 4 International Growth', which is aimed at expanding export markets and developing graduate talent in that sector.
Initially, 50 top-level college graduates will be placed in export-led Irish firms for 18 months under the guidance of Enterprise Ireland and the UCD Michael Smurfit Graduate Business School.
G4IG is aimed at developing firms’ export market development strategies, while at the same time advancing graduates’ international business skills.
Launching G4IG, Minister O'Keeffe said “Ireland’s economic recovery will be export-led, and this innovative programme will initially place 50 graduates in firms with high growth potential where they can help explore new business opportunities in global markets.
“By expanding Irish firms’ export footprints, we can create new jobs at home and drive our emergence from recession and back to economic growth.”
The dean of UCD Michael Smurfit Graduate Business School, Professor Tom Begley, stated: “Ireland’s best option for dealing with the current economic difficulties is to trade our way out of them, and a dynamic export sector is critical to our success.
“We are particularly pleased that companies should derive immediate benefits from our action-learning approach.”
Mr Austin Rutledge, Managing Director of Export Edge, a company that provides training and consultancy services to businesses engaging in export markets, spoke to The Epoch Times about the governments initiative.
Mr Rutledge said, “It is a tough area to send new graduates out to new markets.”
He welcomed the announcement but was worried that the graduates might not get the support they needed. “Good integration is needed into those markets [Asia], and that requires not just enthusiasm and academic knowledge; it requires experience, which is always a problem.”
“So they will have to learn fast, and hopefully the program will achieve that.”
Markets such as the UK and USA are manageable to a certain extent, said Mr Rutledge. You just have to get out there and get to know the contacts, was his advice.
“If they are going further afield outside Europe - and that’s where a lot of the potential is - then they have to know a lot more, they are not going to succeed if they don’t get to grips with the cultural and language issues.”
“It’s a big challenge for these new graduates and I think if they get the right supports they will succeed: the worst thing would be to see that they do not get the support, so it needs a lot of commitments from the companies.”
Export Edge are working with companies and advising them on credit management in areas of the Middle East and Asia. “Making sure the companies get paid. That’s often the hardest task,” said Mr Rutledge.
Mr Rutledge believed that the graduates will face tough challenges such as “closing down contracts, which can be very difficult ... the payment process can prove very difficult.”
“I think its a great move forward, but the risk is that, are we doing what other countries who are successful are doing? I think we are probably not doing enough.”
“The biggest problem for companies is funding growth,” claimed Mr Rutledge.
He gave the example of the UK, where a number of benefits and funding have been introduced to address this issue, together with facilities there that allowed for a number of enterprise finance guarantees, enterprise capital funds and other government guarantee schemes for exporters.
“Will they achieve the success of sales and cash-flow? Will the money come into Ireland? That’s what it is all about, at the end of the day.”
“I think it is a fantastic step forward, it is well needed.”
