Every year Ireland draws a large international crowd. The country is becoming increasingly popular for those wanting to expand their business. Alongside its low 12.5% corporate tax rate, there are many other benefits of expanding your business in the country.
What are the benefits of expanding your business in Ireland?
Ireland has one of the most educated workforces in the world. The share of 30-34-year olds in Ireland with a third level qualification is 56.3%, compared to an EU average of 40.7%.
Another impressive stat is their participation rate in the early education system, which currently stands at around 98%.
Access to a large talent pool
A well-educated, young workforce means a wide access to a great talent pool. Almost 30% of students in the country are enrolled in science, technology, engineering and maths (STEM) courses with an increasing number of IT graduates coming from Ireland.
You can be sure that accessing a talented workforce in Ireland won’t be a challenge.
Ireland is in the Greenwich Mean Time Zone (GMT), enabling easy facilitation of both western and eastern markets during the working day.
The country also has strong transport links. It sits just one hour by air from London and 90 minutes from Brussels and Paris. Investment over the past 10 years in Ireland’s rail, road and air transport network mean the country is incredibly well connected both to its own cities, Europe, Asia and North America.
In addition, the only US Pre-Clearance facilities in Europe are located at Dublin and Shannon Airports, offering a key advantage for transatlantic travel.
Ease of doing business
In 2018, Ireland was ranked by Forbes as the 11th best country to do business in.
Its membership in the EU means free circulation of capital, people, goods and services within the group and acess to one of the strongest economic areas in the world.
Ireland are also a major global player, with 60% of final exports forming part of global supply chains (either fully or part processed). This is the highest ratio in the world.
What are the main growth sectors in Ireland?
Ireland is becoming a world leader in tech, software, pharmaceuticals and financial services.
14 of the top 15 medical technology companies and the top five global software companies are currently operating in the country.
Dublin is a hub for high-quality tech and multilingual talent. Alongside this, it has a supportive business ecosystem including several technology and research centres.
Paddy Conlon, executive director of the CBRE, said: “Dublin’s continued success in growing its tech presence is supported by strong government and IDA promotion, particularly toward US companies attracted by the cultural affinity and attractiveness of the city to young talent from across Europe.”
Investment in infrastructure
The country plans to invest €116 billion in public infrastructure and capital works under the National Development Plan.
This will focus on ten strategic investment priorities including enterprise, skills and innovation capacity, housing and sustainable urban development, the national road network, environmentally sustainable public transport and climate action.
Ireland’s pro-business attitude, stable economy and strong and consistent growth in a number of sectors make it the perfect country to expand your business into.
Choose the right international market to expand into – with the right partner
Different countries provide different opportunities, challenges and benefits.
With an experienced global expansion expert, they become like an arm to your business, helping you to understand different markets so you can make a decision that aligns best with your business goals.