Hotel Jobs In Ireland

Becoming An Entrepreneur In Ireland

Executive Summary

Introduction to the Irish Business Land

• The study of Irish business shows positive investment possibilities for entrepreneurs, corporations, and others looking to establish business within the country.
• Many Irish companies are planning to continue the recruiting of extra staff within the next year and the employment market is a successful key trait of trends in the future.
• These cited examples, coupled with the high existence of educational accessibility, shows the continuous availability of knowledge and resources needed to maintain a booming economy.

Political and Economical Situation

• The quality of life and living in Ireland is highly rated.
• This speaks highly for the attitudes and environment society places themselves in each day.
• A community of social value and high standard leaves less room for unethical and immoral wrong doing.
• Businesses will continue to prosper in the type of atmosphere where crime is a wrong doing and safety is looked upon highly.
• It is becoming more common for foreigners to feel comfort in making Ireland their new homeland and retreat back to their ancestry.
• This trend shows a sense of comfort and safety within an unfamiliar environment. People seem to be immigrating to Ireland rather than emigration being a main concern.

Climate

• It will be essential for the Ireland government to monitor climate and its effects upon industries, especially agriculture, within the country.
• It would be extremely detrimental for the government to be placed in the position of Irish citizens migrating once again due to climate.
• Businesses would begin to suffer and jobs would move elsewhere.

Trade

• The Irish country seems to be very active in the trade market, keeping them diverse in different market segments.
• They only trade with a few different countries, allowing them the ability to create specialties in their product imports and provide trade agreements necessary for competitive business.
• Many people would consider doing business in Ireland for previous reason stated, along with others such as low corporate taxes and the current trends in the market. For example, the Irish GDP is outstanding in comparison to others in the European Union.

Recommendation

• Consideration of women, safety, and government perspective of climate are the most important things to consider when establishing a business in Ireland.

Becoming an Entrepreneur in Ireland

Introduction to the Irish Business Land

A trip to Ireland may land you in a slightly different environmental culture, but in comparison, Irish culture is somewhat similar to American living. Irish people enjoy sporting activities, reading, poetry, dancing, socializing, building a career, and much more, including the use of English as a highly used language. However, when considering the risky move of becoming an entrepreneur it is essential to become deeply familiar with other parts of the country, such as its history, environmental scope, societal norms, economic background, and political views.

In 2005, Ireland was ranked the best place to live in the world, according to a "quality of life" assessment by the Economist magazine. The country's combination of increasing wealth and traditional values gives it the conditions most likely to make its people happy, the survey found, things including health, freedom, unemployment, family life, climate, political stability and security, gender equality and family and community life. The Economist said: "Ireland wins because it successfully combines the most desirable elements of the new, such as low unemployment and political liberties, with the preservation of certain cozy elements of the old, such as stable family and community life." (Wikipedia)

It is estimated that 6 to 10 percent of new business in Ireland is generated from foreigners each year. According to a recent study from Lifestyle Consumer Research, 17 percent of foreigners plan to start a business in Ireland. This is indication that current and future trends within the Irish business market are highly active. Entrepreneurs, organizations, and others must consider the current trends of the Irish market. The question is "What will Ireland look like in 2010?" (O'Kane, 2007)

Current trends include the following:

• To protect themselves from crime and hostility, people are retreating into the safe environment of the home
• People want to do exciting things but want to be safe - emotional escape in a risk-free fantasy world. Consider changes in food (exotic meals), shopping (fun shopping), interactive movies and games, etc.
• Luxuries are no longer big purchases but include "rewards" like handmade chocolates, week-end breaks and expensive restaurant meals. Spending patterns are becoming less predictable
• Technology allows products to be focused on very specific needs
• People are less concerned about job security and more willing to change jobs several times during their careers to pursue new opportunities
• Consumers are more health-conscious and critical about the behaviors of companies and the quality of products and services
• People have higher expectations of life. They want to achieve more - often materially
• Time is a major factor in most people's lives. They feel a need to cram activities into the day (reading, movie, theatre, socializing, being a good parent or partner, do a course, make a career, etc.)
• Older people stay healthier much longer and age does not dictate the pace of life anymore. Old people act young
• Society and business is more and more influenced by women.

Besides the beautiful weather, highly active economy, and stable family living, one of the most attractive benefits for families wanting to relocate or entrepreneurs seeking an educated workforce is Ireland's free education. The educational system is comprised of many different subject matters, including art, music, hotel training, engineering, architecture, and many more. The school systems are made up of predominate religious denomination and typically receive state funding that allows growing opportunities for all people.

History

The emergence of Ireland has become a recent happening for a country of previous wide spread political power. Effectively becoming an English colony in the early 17th century, the island became a more important part of the United Kingdom and eventually gained independence in 1937. Since then, Ireland has become integrated with the rest of Western Europe, joining the European Union but generally retaining a neutral role in international affairs. (Britanicca, 2007)

The 19th century marked a time when the Irish were known for migration. Some 40 million Americans currently trace their ancestry to Ireland as a result of the dependency of agriculture and the extreme conditions climate caused in relocating out of this region. Many Americans celebrate their Irish heritage and visit their ancestral homeland to form a connection with their history. This trend can also be noticed in the local setting by the celebration of St. Patrick's Day, attendance of Irish festivals, and stopping in a local Irish Pub.

Political and Economical Situation

The Irish economy has not always been a "five-star rating". Nearly twenty years ago, Ireland struggled with a public deficit nearing 15 percent and an unemployment rate that was the highest in Europe. In the late 1980s, the National Economic and Social Council (NESC) was able to implement a strategy to include an advisory board in which employers, workers, and organizations were represented to assist in bringing the economy out of its poor situation. The NESC was able to evaluate existing policy and recognize the need for cutbacks in public spending. Ireland also needed to tackle the problem of middle-income earners being taxed over 60 percent of their income. By the mid 1990s, the recovery was complete and Ireland embarked on its longest-ever sustained period of economic growth. (Beary, 2007)

Ireland has over 4 million people; it is the third largest country in Europe, with the majority of its population located within a 100km distance of Dublin. It has now become one of the fastest growing countries within Europe by showing a consistent GDP of 6% over the past several years. This is the second highest behind Luxembourg and a GDP of 40% above four big European economies. (CIA, 2007) The economic characteristic of high growth rates and low inflation is expected to continue with the Irish Government's implementation of national economic programs. These governmental programs and partnerships with trade unions and employer organizations were designed to assist in curbing prices and wage inflation, reduce government spending, increase labor force skills, and promote foreign investment. (CIA, 2007) Now that Ireland's economy is considered "dripping in gold" it has transform from an emigration nation to immigrants flocking to the streets of Dublin, Cork, Galway, and Limerick. (Beary, 2007) These newer immigrants include Irish Americans moving back to the country.

Ethnic and racial minorities make up less than 5 percent of the population in Ireland. (Britannica, 2007) The most prominent ethnic minority group is the nomadic Travellers. This group consists of about 25, 000 people who use different forms of language to perform business transactions. They are also known to live without running water or electricity. The Travellers, aka The Pavees or Tinkers, are also present in Great Britain and United States in much smaller numbers.

The agriculture industry of Ireland continues to prove success as much of the land is used for pastures and growing hay. The climate of much precipitation allows for pure plant growth and beautiful grasslands. According to a recent article, Ireland may be facing a dangerous climate change. Using data from three global climate models, the report estimates that rising summer temperatures could lead to a drop in rainfall of up to 25% with a major impact on water resources, particularly for Dublin. A shift in rainfall to the winter months with an increase of nearly 20% could lead to flooding, coastal erosion and storm surges. This report written by the Environmental Protection Agency predicts a possible threat to 50% or more of the island with a conclusion that Ireland needs to meet the needs of reducing greenhouse gases to maintain solidarity and credibility within the international community. The importance of climate change is significant considering the effects it has had upon Ireland in the past. Since the 1970s computer and software equipment and international financial and other services have become more important to the economics of Ireland. Government has focused more upon a competitive economy within several different industries such as, manufacturing, telecommunications, technology, and financial services.

Business & Trade

Ireland is known as one of the most open markets in the world and heavily dependent upon foreign trade. Exports out-number the amount of imports into the country, while the Unites States is the third most important destination of both. (Ireland Embassy, 2007) However, a recent article published in The Irish Times stated "International trade remains down on the list of priorities for the small and medium businesses sector this year, with only 5 percent saying they will start exporting to international markets and 9 percent importing materials for the first time." (The Irish Times, 2007) Ireland's main exports are pharmaceutical products, organic chemicals, computer software, and electronics & telecommunications equipment to include the highly imported; vehicles, oils, food products, machinery, electronic components and mineral fuels from the United-Kingdom, United States, and Germany.

A projected 25 percent average rate of return is projected in the Irish business market according to the US Department of Commerce. Many US investors are attracted to this number along with Ireland's low corporation tax rate of 12.5%. In doing the research of other countries, it is apparent that this tax rate is significant in the start-up of a business in this country. US investors find Ireland especially attractive in the industrial segment as this is currently their most profitable industry. There are more than 1, 000 foreign-owned manufacturing/international services companies in Ireland including over 450 from the US, including Intel, Dell, Hewlett Packard, Boston Scientific, and many others. (Ireland Embassy, 2007) Ireland's specialty in this area creates attractiveness in this market and promotes their workforce as a strong leader of knowledge in this industry.

Recommendation

Things to target or consider when doing business in Ireland would include; a woman's perspective, safety and governments' ongoing consideration of climate matters. Women are becoming more powerful in and outside the home. The opinions of women are essential to a business plan. For example, many Mom's are the target for advertisement of materials for children's social activities, plays, books, toys, and often times there is a gap in advertisement or marketing to this market. It is best for business owners and perspective entrepreneurs to recognize the need without missing an entire market full of interest. The safety of all business transactions is another important concept to consider. This could be a face-to-face or online business you establish with the Irish. It is important for their society to feel safe with all aspects of their life. If climate and greenhouse gases are monitored then doing business in the Irish land will be highly recommended considering all other factors of economics within Ireland.

References

Beary, B. (2007, May 30). Why Ireland's Economic Boom is No Miracle. Globalist Perspective.

Brennan, C. (2007, January 27). Small businesses optimistic for coming year. The Irish Times.

Embassy of Ireland. (2007). Business and Economy. Retrieved September 19, 2007, from http://www.irelandemb.org/econ.html

Ireland. (2007). In Encyclopedia Britannica. Retrieved September 19, 2007, from Encyclopedia Britannica Online: http://www.britannica.com/eb/article-23037

Ireland. (2007). CIA: The World Factbook. Retrieved September 15, 2007, from https://www.cia.gov/library/publications/the-world-factbook/print/ei.html

Ireland. (2007). In Wikepedia. Retrieved September 16, 2007, from http://en.wikipedia.org/wiki/Ireland

O'Kane, B. (2007). Starting a Business in Ireland. Retrieved September 15, 2007, from http://www.startingabusinessinireland.com/