Multinationals still wooed by corporate tax rates despite lack of skilled staff here

Business Sentiment in Ireland: Key Insights from IDA Survey

A recent survey by the IDA Ireland sheds light on the factors shaping Irish business sentiment.The results paint a picture of resilience amidst challenges, highlighting key concerns and opportunities for the country’s economic future. one of the most pressing issues facing Irish businesses is a shortage of skilled talent. Companies are struggling to find qualified candidates to fill open positions, hindering growth and innovation. This talent gap is a major concern for businesses of all sizes and across various industries.

Overcoming Pandemic Obstacles

Despite facing significant headwinds from the global pandemic, Irish businesses have displayed remarkable adaptability and resilience.Many companies pivoted their operations, embraced new technologies, and found innovative ways to navigate the challenging environment. This resilience is a testament to the strength and resourcefulness of the Irish business community.

Shifting Growth Strategies

The survey also reveals a shift in growth plans among Irish companies.Many businesses are re-evaluating their expansion strategies in light of ongoing economic uncertainties and talent shortages. This cautious approach reflects a pragmatic response to the current business climate. While some companies are scaling back growth ambitions, others are focusing on niche markets or exploring new business models.

Skills and Education: Top Priorities for Growth

The survey highlights the critical role of skills and education in driving Ireland’s economic success. Investment in education and training programs is seen as essential for addressing the talent shortage and ensuring a skilled workforce for the future.

Doing Business in Ireland: Insights from Companies on the Ground

A recent survey by the Irish Advancement Agency (IDA) has provided valuable insights into the factors shaping the views of companies operating within Ireland. While the nation is widely recognized for its business-friendly environment, the survey illuminated both the strengths and challenges faced by Irish businesses. The survey results offer a complete understanding of the Irish business landscape from a firsthand viewpoint. By delving into the experiences of companies on the ground, the IDA has gained invaluable data to inform its strategies and support the ongoing growth of the Irish economy.

Why Ireland is a Magnet for Global Business

Ireland has become a go-to destination for international companies seeking a thriving business environment. A recent survey pinpointed four key factors that make the Emerald Isle so appealing to global investors: a competitive corporate tax system, a highly skilled workforce fueled by a top-notch education system, a dependable water supply, and a workforce known for its adaptability and adaptability.

These elements combine to create a uniquely attractive proposition for businesses looking to expand their operations or establish a new foothold in Europe. Ireland’s commitment to fostering a business-friendly environment has undoubtedly played a significant role in positioning it as a leader in attracting foreign direct investment.

Ireland’s booming Economy Faces Housing Hurdle

Ireland’s economy is thriving. Though, a recent survey highlights a growing concern: the country’s housing crisis. The survey pinpoints the high cost and scarcity of housing as the biggest challenges facing businesses in Ireland. These factors have a ripple effect, possibly making it harder for companies to attract and keep talented employees. “The high cost and limited availability of housing are identified as the most negative factors affecting companies operating in Ireland,” the survey revealed.

Labor Landscape in Ireland: A Look at Union Depiction

Ireland’s labor market presents an intriguing picture when it comes to unionization. A recent survey conducted by the IDA, Ireland’s foreign direct investment agency, revealed a striking statistic: 91% of the companies surveyed reported having no union representation within their workforce. This finding sheds light on a unique characteristic of Ireland’s employment landscape. “91pc of the companies asked⁤ by the ‍IDA had no union for their workforce,” the survey notes.This data point underscores the relatively low level of union membership compared to other developed economies.

Business Growth Hindered by Tax and Planning Concerns

Businesses are facing challenges beyond the well-documented housing crisis. Increasing concerns over taxes and complex planning processes are emerging as significant hurdles to growth and expansion. these issues, alongside the ever-present housing shortage, are demanding immediate attention and solutions. Companies cite high personal tax rates as a deterrent to investment and expansion. Streamlining the planning process is also crucial to reduce bureaucratic barriers and encourage business development. despite these challenges, the​ survey emphasizes that companies remain largely satisfied with the overall business environment ‌in Ireland, especially citing ⁢the corporate tax environment as the most attractive feature. despite these challenges, the​ survey emphasizes that companies remain largely satisfied with the overall business environment ‌in Ireland, especially citing ⁢the corporate tax environment as the most attractive feature.
## archyde Interview: Eileen Sharpe on the State of Irish Buisness



**Archyde:** welcome to Archyde, Ms. Sharpe. You are the Global Head of Business Progress at IDA Ireland.



**Eileen Sharpe:** It’s a pleasure to be here.



**Archyde:** IDA Ireland’s recent survey offers a interesting glimpse into the current sentiment of businesses in Ireland.What are some of the key takeaways from the survey that really stand out to you?





**Eileen Sharpe:** The survey paints a picture of resilience amidst challenges. Irish businesses have shown astounding adaptability in the face of global uncertainty, especially stemming from the pandemic. We’ve seen companies pivot their operations, embrace new technologies and find innovative solutions.



**Archyde:** Despite this resilience,the survey also highlights a pressing concern: a shortage of skilled talent. How significant is this issue, and what steps are being taken to address it?



**Eileen Sharpe:** The talent shortage is a major concern for businesses across all sectors. It’s hindering growth and innovation. As a nation, we need to invest heavily in education and training programs to ensure we have a skilled workforce for the future. IDA Ireland is actively working with educational institutions and industry partners to develop programs that meet the evolving needs of the job market.



**archyde:** The survey also suggests businesses are re-evaluating their growth plans.Can you elaborate on this shift in strategy?



**Eileen Sharpe:** The current economic climate has made companies more cautious. We’re seeing some businesses scale back their ambitions,while others are focusing on niche markets or exploring new business models.

It’s a pragmatic response to uncertainty, but it also reflects the resourcefulness of Irish businesses in adapting to changing circumstances.



**Archyde:** The IDA plays a crucial role in attracting and supporting international businesses in Ireland. What are some of the key factors that are making Ireland such an attractive destination for global investors?



**Eileen Sharpe:** ireland offers a unique combination of advantages. We have a competitive corporate tax system, a highly skilled and educated workforce, and a business-pleasant surroundings. Our participation in the European Union also provides access to a vast market.



**Archyde:** what is your outlook for the future of Irish business?



**Eileen Sharpe:** While challenges remain, I am optimistic about the future. Irish businesses have a strong track record of innovation and resilience. By continuing to invest in education, infrastructure, and innovation, I believe Ireland will remain a competitive and attractive destination for businesses of all sizes.



**Archyde:** Thank you for your time and insights, Ms. Sharpe.