3 Key Reasons to Start a Business in Ireland

Ireland is known all over the world as a hotbed of entrepreneurship. Sitting right at the heart of the influential European Union, the country is strategically located and is armed with strong entrepreneurial spirits. There are many benefits to starting a business in Ireland, none more so than mentioning the fact that startups are subject to numerous financial incentives and non-financial support.

Access to a Young and Highly Skilled Workforce

Ireland is among the countries with the best Higher Education systems in the world. Of the one million people currently engaged in different levels of education, approximately 250,000 of those are enrolled in third-level education. With 30 percent of the students doing science, technology, engineering, and math courses, and 25 percent of them in social sciences, business, and law courses, the university education in the country meets the needs of a competitive economy. The knowledge transfer between universities and companies is also commendable.

Strategic Location

A getaway to Europe, the Americas, and the Middle East, any business in Ireland has access to various markets and can source raw materials from many overseas countries. Companies like Coca-Cola, PepsiCo, Phenox, and Uber have pitched camps in this country due to its strategic location and access to key markets across the globe.

Vibrant Venture Capital

The business landscape in Ireland is enriched with various sources of financial support for start-ups. One good example of organizations that offer financial incentives is Enterprise Ireland through its High Potential Start-Up program. Budding entrepreneurs qualify for financial support from this organization if they satisfy specified criteria: the business is headquartered in Ireland, it’s at most five years old, and it’s introducing an innovative or new product.

Bottom Line

Starting a business in Ireland is one of the best decisions entrepreneurs can make. The key reasons for starting a business in this country include access to a young and highly skilled workforce, strategic location, and vibrant venture capital.