Hello! The past day was filled with presentations and class time. We were fortunate enough to have Raymond Bowe from IDA Ireland (Industrial Development Authority) speak to us. He was extremely knowledgeable, with over 30 years of experience in his industry.
IDA is responsible for the attraction and retention of inward foreign direct investment (FDI) into Ireland. After the presentation, I am able to give a review of the pros and cons of investing in Ireland and whether or not I would invest.
Pros:
- Good Track Record
- English-speaking member of EU
- Strong and Educated Talent Pool
- Low Tax Rates (12.5%)
- Ease of Doing Business
- Hub for Cutting Edge Companies
- Cities & Clusters for Good Expansion Locations
Cons
- Recent issues with Brexit
- High Housing Prices
- Very Young Economy
- Hiring Pool and Population is Small
- High Income Taxes
With the information gathered from class, I would invest in Ireland. The pros outweigh the cons here. Of course it depends on the industry, but Ireland is a great choice especially if I want to start a company that is in the financial, tech, or pharmacy fields. From the rapidly growing economy to the focus on innovation, this country has a lot of potential to invest in.