Ireland - A Digital Economy

-
 Ireland as a Digital Economy

Ireland is a rich country, with a GDP of $504.2, with a young median age of 38.8 and hooked on big tech with Microsoft and Apple included in the multinationals who provide one third of total employment in terms of pay. Why do these multinationals thrive in Ireland?


Skilled Workforce

Ireland has one of the most educated work forces in the world with over half of 25-34 year olds have a third level education, which is well above the EU average of 40%. Irelands education system ranks in the top 10 globally for quality. Irelands colleges and universities provides education that meets the needs of a competitive economy.

Government Investment

Irish Government invested €802.2 in research and development in 2019. Much of this investment goes towards tech innovation, such as the Disruptive Technologies Innovation fund and funding for centres such as the Tyndall National Institute and the Irish Centre for High-End Computing.

Tax Incentives

Corporation tax in Ireland is one of the lowest in the world at 12.5%, which is the third lowest in the EU. Research and Development is very important for the Irish state, therefore offer a 25% R&D tax credit. KDB corporation tax relief offers a 50% tax deduction on profits arising from new innovations.


Startup Ecosystem 

The LEO is the first base for anyone seeking information and support for starting a business in Dublin. Enterprise Ireland supports high potential startups that are developing innovative products or services. There is also startup grants to attract new business.


English Speaking

Ireland is only one of the two English speaking countries in the Euro zone, which is important for company's deciding to set up in Europe.

A member of the EU, Eurozone and OECD

Many benefits in this such as stability, stability in currency and ease of doing business with foreign parties.  It shows that Irelands economy is in a stable, safe and open position.


Geographic position and connectivity

Ireland has a great strategic location as it is located between the UK the USA and close to the rest of Europe. It is very well connected with all the main business hubs and countries through air and sea.


Political Stability

Ireland has a very stable political system. The government gives every company a fair chance to thrive by making the playground level.


Advanced Technology

Ireland continues to dominate globally as far as research and tech advancements are concerned. We can see this is the huge amount of data centres in the country such as Apple, Google and Facebook.

Culture

Irish people are very welcoming. Irish people are also courteous and quick - witted as well as hard - working and forward - thinking.








Comments

Post a Comment

Popular posts from this blog

Introduction - Who am I

-
Image
 Hi! Welcome to my blog on all things Digital economy. My name is Katie O'Leary, I am from county Wexford. I am 20 years old and currently a final year student at SETU in county Waterford studying Bachelor Of Business specialising in Economics and Finance. To start off this blog, here's a quick run down of my previous work, I completed my 8 month work placement on the 31st of August at CSC global financial services in Gorey Co.Wexford. CSC provide business, legal and financial services across the globe including  administration services across a range of transaction types and asset classes for alternative asset managers, capital markets participants, and corporations. I personally worked on the fund accounting team where I dealt with cash, trades, securities, clients and calculating the net asset value of weekly and monthly funds. In fund administration there is a lot of use of information systems.  For an example of our computer hardware platforms we used Microsoft for a...
Read more

Search Engine Optimisation

-
Image
Today, it's essential to have an online presence in order to increase interaction, draw in audiences, and convert them into customers. As visitors land on a website, it should offer a seamless experience for them to complete a goal.With the aid of website optimisation, you may turn your website into a reliable source of income. It will assist you in scanning your website and optimising it to meet the needs of your audience or visitors. Here are some tips to boost your website ranking: 1. Keyword research. Identify relevant keywords for your content suitable for your target audience. Use tools such as  Google Keyword Planner  and  SEMrush  to find high volume and low competition keywords. 2. Quality content. Create high quality and relatable content which is relevant to your target audience to boost rankings. Make sure content is well - written, engaging and addresses the needs of your target audience. 3. On Page Optimisation. Optimise the title tags, meta description...
Read more

The struggle of implementing information systems

-
Image
Hi all, this week I have looked into the implementation of information systems in business. Although you may see this as an upgrade for a company, there is also many struggles they face when imposing these systems.  1. Inadequate Training Training should be one of the most important factors when implementing new software. Employees need to understand how to utilise the software for the day to day running of the business. The project team must communicate frequently and accurately with employees by making an on - boarding plan to get employees up to speed and to use the features with confidence. An example of this process not being carried out correctly is with Nike and their supply chain issues in 2021. They stated that their employees were not adequately trained before the system went live. With some other software issues, this caused Nike to lose $100 Million + in revenue as well as lawsuits and a 20% drop in stock. Related Nike article:  Nike Supply Chain Issues 2. Misalign...
Read more