The State of Business … in Ireland

Business in Ireland is currently booming. The economy grew by 4.8% in 2014, with predictions of growth of 5.4% in 2015, and it’s officially the fastest-growing in the EU, according to Brussels. Therefore, it’s no surprise that Ireland is able to offer many opportunities for expanding businesses. Here you can learn all about the state of business in this thriving country:

The Start-up Sector is on Top Form

The Irish start-up sector is full of potential. There are companies on the scene that may even one day be able to give Google, Facebook and Twitter a run for their money. That’s right: there are some incredibly smart companies and entrepreneurs in the sector that are tech-savvy and coming up with game-changing ideas. So, which companies are some of Ireland’s hottest start-ups?

BriteBill

Founded by ex-Accenture executive, Alan Coleman, and ex-RTE technology executive, Jim Hannon, is Dublin-based telecoms billing software company, BriteBill. The five-year-old company has recently landed a big contract to handle billing issues for US mobile giant, Sprint, and is due to employ 100 people.

Cubic Telecom

Entrepreneurs Barry Napier and Gerry McQuaic founded Cubic Telecom, which initially started out as a discount roaming operation. However now it has moved into the world of virtual mobile networks, and will soon have over €25m (about £17.5m) of funding. As a result, the company now holds ‘virtual’ mobile licenses across Europe, North America and Asia to connect manufacturers’ devices to internet services.

Novaerus

Bill McCabe is the found of Novaerus, an air-purifying company that specialises in removing bacteria and other airborne nasties from clean-air environments. He sees the company growing rapidly and taking on significant funding, and it’s no wonder why when he has signed a number of major deals in the US with hospitals and nursing homes. The start-up also closed a €7.3m (approximately £5m) funding deal late last year from Noel Ruane’s Polaris Partners and US biomedical venture fund, Fidelity Biosciences.

The Top Growth Industries in Ireland

Which types of business are flourishing in Ireland?

IT Services

This is a key growth sector for Ireland. In fact, the availability of highly skilled IT professionals has attracted many high profile companies that continue to reinvest.

Accounting and Auditing

There is demand for qualified and part qualified accountants in Ireland, as well as for compliance and risk professionals. Qualified and newly qualified accountants are needed within the pharmaceutical, manufacturing and energy industries, just as candidates are with insolvency and forensics experience.

Innovation and Intellectual Property Related Enterprises

Businesses that revolve around innovation and niche product development can continue to grow, even during an economic recession, and these types of businesses have served Ireland well as it recovers from the financial crisis.

Green Sector Jobs

According to recruitment agencies, employment in green sectors is on the up; jobs within fields such as renewable energy, environmental and energy-efficient technologies are set to increase.

The creation of more and more companies in the green sector, such as wind farms and waste-water specialists, has led to a strong demand for energy consultants and electric engineers. So, are you considering setting up a business in Ireland? Then it may be wise to get in touch with Pure Commercial Finance first. Call 02920 766 565 today and learn more about the financial requirements from our team of professionals.