Is the South East of Ireland a good place to invest for a Tech Firm?
Is the South East of Ireland a good place for invest for a Tech Firm?
The simple answer is Yes! In my opinion of course.
The South East of Ireland includes 5 counties Wexford, Waterford, Carlow, Kilkenny, and Wicklow. This equates to a population of almost 500,000 people. In terms of recruitment, the company would have a great selection if it chose to open in this region. Commuting from county to county is no longer than a 70-minute drive so it could attract talent from numerous towns and cities in the South East.
Ireland still has one of the lowest corporation taxes for small businesses within Europe standing at 12.5%. As long as the tech firm's annual revenue is less than 750€ million then it will avail of this low tax. Setting up the company in the South East means that they can pay lower taxes and because it would be outside of the Dublin region it means the firms will likely not have to compete with other tech firms in Dublin for working professionals.
People are now choosing to stay further outside of Dublin due to high rents, low housing availability, and traffic congestion. This leads to less disposable income for their wages and longer commutes to and from work. The hybrid model of working can only do so much to solve these issues so many people are choosing to leave big city areas like Dublin and go further into the South East for a better standard of living.
The South East of Ireland has many public and private colleges with many people graduating in the fields of business, IT, Management, and Administration every year. The most well-known college in the area is now The South East Technological University which has campuses in Wexford, Waterford, and Carlow. According to the Higher Education Authority over the last 7 years, the number of graduates within Ireland has continued to grow higher each year.
If a Tech firm were to set up in this area, I think it would be a good idea to run graduate programs in many different departments of the business as it would eliminate problems with recruitment and retainment and would be spoiled for choice with working professionals.
Click to watch video : South East Technological University is here
Click to read more: Ireland is the number 1 destination for US Tech Firms.
I hope you find the statistics interesting and I welcome feedback on this blog.
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An insightful read Edwina!
ReplyDeleteSuch an interesting read
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