Pointers For International Business Expansion In Ireland

Some people opine that Irelands strict measures can slow its progress in the coming years

, but the advantage is that the country is positioned well than most other perturbed European nations. This is what makes international business expansion in Ireland favorable. The labor market flexibility adds to the countrys advantage, as it is most competitive in Europe and globally to some extent. The workforce is extremely productive that attracts foreign investors to set up and expand their business here.

Back in the year 2009, Ireland recorded the highest GDP per hour worked and was close to Norway, as per the U.S. Labor Department. The country was at $61.30 next to Norway at $73.26. In addition to that, other complementary aspects are the countrys ancient beauty, history and the vibrant cosmopolitan populace with urban economic trends.

Why expand your business internationally to Ireland?

The most important reason for international business expansion in Ireland is its increasing economic growth. The drivers of this growth have been the educated and young professionals who helped the country to become a more service and high-tech oriented economy from a labor-intensive manufacturing one. Furthermore, the demographics have acted as a natural pulling factor for several companies.

Going by the workforce, that plays an essential role in business expansion, the country has the youngest workforce in Europe with approximately 36 percent of the population below the age group of 25. The Irish government has promised to increase the percentage of PhDs by 2013. This would offer greater levels of research excellence as the government is gearing up for a knowledge-based economy.

A pro-business attitude and low corporate tax has emerged the country as a lucrative investment hub for international business expansion. Furthermore, the Irish Government is taking initiatives to promote alliance between academia and industry.

What are the prospective business opportunities?

Financial incentives such as tax credits for investors have made Ireland a thriving economy. Incorporating or licensing a business in Ireland is prospective options. The economy is comprised of exports and accounts for approximately 80 percent of GDP as against 7.2 percent in Greece. Hence, if any entrepreneur is aiming for international business expansion in foreign markets to increase the GDP growth then Ireland is a clear choice to make with its high scale of exports. Lucrative sectors where entrepreneurs can expand their business are transport, healthcare, construction, energy conservation, food and beverage amongst many others.

Do you need the help of an expert?

Entrepreneurs expanding their business overseas to Ireland identified the need of a consultant who would help them to address various aspects of business expansion that otherwise might go unnoticed. For instance, an expert consultant would point out the need for internal audit compliance as a tool to handle and effectively manage all worldwide risks that a business might face. Similarly, other important aspects to look into are EU VAT rules and transfer-pricing audit.

by: brianwarren

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