Business leaders and policymakers gathered in Dublin today (Thursday 22 October) for an ACCA event exploring how Ireland and Europe can create the conditions for businesses to start, scale and succeed, while ensuring SMEs have the talent, skills and support needed to compete in an increasingly digital economy.

The event examined a range of priorities for Ireland's Presidency. This included strengthening competitiveness, improving access to skills and talent, supporting AI adoption, reducing unnecessary complexity for businesses and making it easier for companies to grow across the Single Market.

Speaking at the event, Michael McGrath, European Commissioner, outlined a range of EU initiatives designed to support these objectives, including the Commission's Union of Skills initiative, the ‘One Europe, One Market’ roadmap and proposals under EU Inc. aimed at making it easier for businesses to establish and expand across Europe.

The Commissioner also highlighted the growing importance of digital skills, data, automation and artificial intelligence, warning that businesses lacking the skills to adopt new technologies risk falling behind more productive and innovative competitors.

Commenting, Commissioner Michael McGrath, said: ‘How do we make Europe a better place to start, scale and succeed in business? Part of the answer lies in smarter rules, less fragmentation and a more practical Single Market. But it also lies in skills, talent and supporting the professions that help businesses navigate change.

‘Making Europe more competitive means ensuring that SMEs, in Ireland and across the EU, have a genuine opportunity to grow and succeed. EU Inc can help businesses overcome barriers to expanding across borders, giving entrepreneurs greater legal certainty and making it easier to access investment. By making Europe a more attractive place to start and grow a business, we can also help retain our talent and create opportunities for skilled professionals.

‘But better rules and access to finance are only part of the answer. Businesses also need people with the right skills to grow, digitalise and compete. Through the Union of Skills, the EU is working to strengthen skills development and better match people's skills with the needs of the economy.

‘This is particularly important when it comes to artificial intelligence. AI offers significant opportunities for SMEs to improve productivity, innovate and compete, but businesses need the skills and practical support to use these technologies effectively and responsibly. The EU's AI Act provides a common framework designed to support trustworthy AI, with safeguards for fundamental rights. Our ambition must be to ensure that SMEs can benefit from AI, rather than risk being left behind.
‘Ultimately, skills and workforce readiness must be an integral part of Europe's competitiveness agenda.'

Commenting at the event, Stephen Noonan, Head of ACCA Ireland, said: ‘Commissioner McGrath's remarks reflect the reality facing businesses across Ireland. Competitiveness today is about far more than access to finance or markets. It is about whether businesses can access the talent, skills and support they need to grow, innovate and adapt.

‘The reforms and initiatives outlined today have the potential to help Irish businesses scale more easily, access new markets, embrace digitalisation and make better use of emerging technologies such as AI. Realising those opportunities will depend on ensuring businesses have access to the right skills, expertise and support. It will also require strong networks of trusted advisers, including small and medium-sized accountancy practices, that help SMEs navigate change, invest with confidence and pursue growth opportunities.

‘As Ireland continues to lead the Presidency of the Council of the European Union, there is an important opportunity to advance policies that support skills development, reduce unnecessary complexity and create the conditions for SMEs to succeed, both at home and across Europe. The discussions at today's event demonstrated the importance of ensuring that competitiveness, talent and business growth remain at the heart of that agenda.’

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We are ACCA (the Association of Chartered Certified Accountants), the only truly global professional accountancy body. Since we were founded in 1904, we’ve been breaking down barriers to the accountancy profession. Today we proudly support a diverse community of over 266,100 members and 546,500 future members in 179 countries.

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