Reasons why many entrepreneurs are starting their businesses in Dublin

There are many excellent reasons to locate your new start-up business in Dublin. From our favourable low tax regime and supportive environment for start-ups, to the availability of well educated workforce Dublin is the place to be. On a personal level, Ireland is simply a great place to live.

Ireland has already attracted a huge level of foreign direct investment, particularly from the USA. Thousands of American companies have chosen Ireland because of its pro-business environment.

In summary:

  • Number  1 destination for US FDI *American Chamber of Commerce Ireland, 2015
  • There is a wealth of talent across the country
  • The population is the youngest in Europe
  • It is the only English-speaking country in the Eurozone
  • The workforce is highly-educated: over 50% of 30-34 year olds have a third level degree, higher than any other EU country *Eurostat
  • Number 1 in the world for availability of skilled labour *IMD Yearbook, 2014
  • Labour costs are below European average *Eurostat
  • Ireland has a pro-business environment
  • Ireland is among the top 5 countries in the world to do business *Forbes
  • Number 1 country in Western Europe *Site Selection, 2014
  • The business infrastructure is constantly improving: Ireland has one of the most advanced and competitive telecommunications infrastructures in Europe *IDA Ireland

An entrepreneur establishing a start-up should definitely consider Dublin because of the incredible pro-business environment and the wealth of opportunities, supports and talent on offer. If you want your business to flourish, you need to be in the best location.

1. Dublin is a start-up friendly environment

Dublin is a low bureaucracy, low tax environment that is very supportive of entrepreneurs, we even have a Dublin Commissioner for Startups http://startupdublin.com/.    Read what credible independent sources say about the Irish business environment.

2. Dublin is a world leader in key innovative sectors

Dublin is home to world-class companies and research centres in sectors such as ICT, life sciences, gaming, financial services and food & beverages. This gives start-ups locating in Ireland easy access to quality staff, experienced entrepreneurs, investors, suppliers, research institutes and other support services with deep expertise in these sectors. 

Just one example of innovation is CeADAR , a world-class creative environment that fosters innovation and supports the development of a team of highly innovative technology professionals. http://ceadar.ie/Learn more about the innovative sectors in which Ireland is actively engaged.

3. Dublin is a dynamic source of start-up funding and support programmes

Dublin-based start-ups have access to an extensive range of start-up support programmes and, from a funding perspective, many types of investor, who between them can satisfy the needs of companies across all stages of their growth. On a per capita basis, the level of funding and grants available is high by international standards. Learn more about start-up funding and support programmes.

Thanks handy online tool helps identify which support is for you? https://www.localenterprise.ie/smeonlinetool/businessdetails.aspx

Government support agencies include;

IDA Ireland http://www.idaireland.com/ (good video on the home page) Enterprise Ireland http://www.enterprise-ireland.com/ Local Enterprise Office Dublin City https://www.localenterprise.ie/DublinCity/

4. Dublin is a great place to live and work

Dublin is an ideal location for life and work with great opportunities for business and a great way of life for families. With a broad and well educated workforce, it is a great place from which to recruit and retain local and international talent. Learn more about living in Ireland.

Things are looking up in Dublin and consumer confidence is on the rise.

Key Facts (Spring 2015) from the Quarterly Dublin Economic Monitor

 

  • Employment: Unemployment in Dublin is down to 8.9% from a high of 13%.  Employment in services, which dominate the Dublin economy, is almost back to peak levels.
  • Housing: Dublin’s housing market is showing signs of stabilisation on the foot of Central Bank intervention; however residential rents continue to climb.
  • Commercial Property: Office rents are up strongly, while office vacancy rates have fallen significantly.
  • Public Transport: Increase in public transport trips reflects the improving economy.
  • Airport Arrivals: Dublin Airport arrivals are returning to peak levels.
  • Port Traffic: Dublin Port traffic back at peak levels.
  • Consumer Sentiment: KBC/ESRI Dublin Consumer Sentiment Index is at its highest level in the 12 year history of the series. 68% of Dublin consumers expect the economic situation to improve in the next 12 months.
  • Business Output: MARKIT Dublin PMI signals a sharp increase in business output during the first quarter 2015; new business orders have now risen in ten successive quarters for Dublin based firms.
  • Job Creation: Dublin companies continue to increase staffing levels with strong levels of job creation recorded in Q1 2015.

5. Ireland is a gateway to world markets

Ireland is one of the most open and globally connected countries in the world. Its geographic position, easy transport links to Europe, the US and the Middle East; and membership of the EU and Euro provides easy access to some of the richest markets on earth. Learn more about Ireland as a base for accessing world markets.

This year, October 5th – 10th, the first ever Startup Gathering will be held across the country, showcasing the reasons why entrepreneurs, domestic and international, should choose Ireland as their business location. Over five days, in five cities, at five industrial locations, events will be held that promote entrepreneurship, increase participation in the start-up industry, as well as showcasing the services and supports available to start-ups in Ireland. http://startupireland.ie/startupgathering/

Sources:

IDA Ireland, Enterprise Ireland, Connect Ireland, Dublin City Council, LEO Dublin City

Other:

More details about the Dublin Economic Monitor https://www.localenterprise.ie/DublinCity/Publications-Resources/Dublin-Economic-Monitor/DEM-Issue-1.pdf

Ireland Inspires Video https://www.youtube.com/watch?v=9wmIZEl1nSo

The National Policy Statement on Entrepreneurship in Ireland 2014  http://www.djei.ie/enterprise/smes/PolicyStatementEntrepreneurshipinIreland.pdf

Download 'Start in Ireland and Take on the World - Reasons Your Start-Up Should be in Ireland (pdf        format).

http://www.idaireland.com/business-in-ireland/locations/east/

http://www.idaireland.com/en/how-we-help/resources/infographics/ireland-attracts-global-investment/index.xml

http://www.idaireland.com/en/how-we-help/resources/infographics/why-invest-in-ireland/index.xml

 

 

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