One suggestion is to consider a long term policy of having a flat tax of 15-20 per cent on all types of income.

If that is not possible a reduction in the capital gains tax rate from 33% to 20% is recommended. It will be interesting to see if any of the public policy and taxation recommendations are ever implemented.

A press release from the Department of Jobs, Enterprise and Innovation states; "One of the major themes of the Report is the need for entrepreneurs in all parts of the country to become more engaged with other entrepreneurs and to look more towards their own peers and less to Government supports to achieve their goals. Volunteerism and organising activities such as events for networking, peer mentoring and knowledge sharing are highlighted by the Forum as being essential.

The Report emphasises that these engaged entrepreneurs, their companies and their staff are the heart of the entrepreneurial ecosystem. The Forum says Ireland already has that heart." For full report, click here.