10 reasons why multinationals particularly in the Tech industry find Ireland such a great place to do business!!!

 Hi everyone, welcome back to this week’s blog. This week I’m going to discuss a few reasons why Ireland is a great place to attract multinationals particularly in the Tech Industry.

HERE ARE THE REASONS WHY!!!

1.      Skilled Workforce: Ireland has a highly educated and skilled workforce that attracts companies looking for talent. This is because of Ireland’s highly recognised education system, producing highly educated young graduates ready to enter the workforce. Most importantly, Ireland education is ranked in the top 20 in the universitas 21 Ranking 2020 .

2.      Favourable Tax Policies: Ireland offers competitive Corporate Tax Rates, which is 12.5% at the moment and Tax Reliefs, such as SARP making Ireland attractive for FDI.

3.      Supportive Government: Irelands has a supportive business environment with the government ready to put in regulations and give grants for struggling businesses or in times of economic down turns, a great example of this is during Covid 19 when the Government released over a €6 Billion in measures to support businesses in Ireland.

4.      Strong Economy: Ireland has a resilient economy making it one of the best performing advanced economies in the world, with GDP increasing by 9.4% in 2022.

5.      Proximity to Europe: Ireland’s Strategic location allows easy access to European markets as Ireland is part of the European union, which has no barriers to trade for members. US multinationals particularly like Irelands for this reason.

6.      Innovation and Research: Ireland has a strong focus on Research and Development, fostering a culture of technological advancement. In Ireland a company can avail of a 25% tax credit against their current year’s corporation tax liability, if they are in engaged research and development activities.

7.      Technology: Ireland has a rich history of achievements in science and technology. Multinationals have recognised Irelands achievements and are continuing to invest in Ireland. An example of this is Apple announcing an €250 Million expansion in Cork which is predicted to be completed by 2025.

8.      Environmental: The Irish Government are investing in the decarbonisation of Ireland’s energy system to push toward the goal of a zero-carbon economy. This attracts multinationals as in the long run it will attract more customers as their products will be sustainably made.

9.      Infrastructure: For Multinationals which are located in Ireland, will have a countrywide motorway network which connects all regions and easy access to international connections by sea or air to Europe, the UK and Worldwide.

10.   English Speaking: As we all know English is considered the ‘language of business’ and Ireland is one of the only two English Speaking members of the Euro zone, which is an important consideration for Multinationals establishing a base in Europe.

Thanks Everyone for reading this weeks blog, Next week's Blog I will discuss the reasons why companies often struggle with Information Systems Implementation.

Write to you soon.

                                                                                    Shauna O'Leary