Start Your Business In Dublin: TOP 7 Business Tricks
- July 25, 2017
- Category: Business, Markets
Ireland is favorable platform for everyone who wants to realize their business-projects. Government support, low taxes, startup visa – all this helps Ireland to be in rate of the most attractive countries for business activity. You cannot find a lot of people here as the most of businessmen prefer starting their business in Britain. So, your chances are winning. Ireland is one of the richest countries-EU members. The country is economically developed to be the financial leader. The biggest exporters and investors of the Irish region are Google, Facebook, Paypal, Intel, Roche, Johnson & Johnson.
Hire a car in Dublin and go around the city to learn the business-centers and co-working centers. They are at every step. If you started your business in Ireland, it would not be difficult for you to come into the international market. The newcomers in business can easily get the access to the wide range of programs of financial support for their startups. The tax system is impressive in the country: 12,5% for the most of business activities and 10% for financial and engineering spheres. This is the lowest criteria in Europe. That is why Ireland is still attractive for experienced businessmen and newcomers.
Challenging Business Spheres
If you want to develop your project in Ireland, you have to prove that your particular project can be called the project of high potential. The most attractive startup projects in Ireland are:
Electronics and engineering;
Computer systems, soft and mobile applications, game-design;
There are 9 from 10 leading companies in Ireland that are in the sphere of medical technologies like Boston Scientific and Medtronic. It is very important to understand that competition is always high.
Finances and Investments
Irish funds, agencies, business-incubators and accelerators are always ready to help to beginners with their money. The tradition to compete for money is more than 10 years old. The winners get competent support, investments, informational and visa support that helps to develop your business in Ireland.
Competitive Startup Fund
The biggest agency Enterprise Ireland organizes special competition for startups which is called the Competitive Start Up Fund. If you want to compete, there is a list of special conditions:
Startup is older than 3 years;
Investments are no more than 100 000 EUR;
Company circulation is more than 60 000 EUR per year.
10 winners can get the investments in the sum of 50 000 EUR, visa support and different kinds of help. It is interesting that all helpful programs are only for foreign startups in their early development. In the result of the competition, the commission should choose just 10 of them to be accepted to Ireland. The expert commission is especially friendly for such business spheres as pharmaceutics, mobile technologies, biotechnologies, gas and petrol industries.
Program from NDRC
The popular agency Enterprise Ireland together with NDRC chooses the companies that they are offered to announce about the long-term cooperation. These companies have a right to get Irish investments and participate in the special programs from Ireland. Traditionally, IT companies, gas and petrol companies and biotechnologies are preferable. There is important condition: the company’s project must be ready to use.
Propeller Venture Accelerator Fund
This is one of the oldest startup incubators in Europe. It is conducted by the Dublin Municipal Organization. All startups are welcomed to get 5 months accelerator program in the world popular companies and investments for 30 000 EUR for 7,5% corporate stocks in return. First of all, this company-incubator is interesting in supporting business and technology spheres.
This company offers three months program, investments of 15 000 EUR, office for 6 months and meeting hundreds and hundreds of potential investments. The priority fields that the company is interested in are IT projects, biotechnologies. If your company belongs to the medical field, you should pay attention to HealthXL Fund. It helps to find investors and answer your questions about medical sphere.
There is special program for foreign companies to be supported by the Irish government to start their business – Startup Enterpreneur Programme (STEP) or so-called startup vise. This vise gives you a right to live and work on the territory of Ireland for 2 years with the possibility to prolong this term for 3 years more. If your business lives for 5 years in Ireland, you can have the residence permit and become the Irish citizen.
To get startup visa you need:
Project investments are no more than 50 000 EUR. It can be your personal money or money from funds and other sources;
Police clearance documents;
Your company is no older than 6 years old;
Business corresponds to all HPSU (High Potential Start-Up) standards, so, it must be unique and innovative;
The company leaders are experienced entrepreneurs;
Your company provides no less than 10 working places for 3-4 years. The company circulation is 1 000 000 EUR per year;
Standard package of personal documents (application form, photos, diploma and others).
All documents must be sent to the immigration agency. You have got a temporary permission to live in Ireland with your family now.
Ireland is a country of new opportunities. The Forbes named Ireland the best country in the world to start and develop business. This is still the country that gives the favorable platform for everyone to develop business. It attracts big and small companies and world popular investors. The soft climate, high living standards and EU membership are favorable for starting business in Ireland.
If you are interested in starting business in Ireland, it is important to use useful resources. Pay attention to StartupIreland, where you can find all necessary information about funds, business-incubators, embassies, immigration agencies, set of documents that you need for Dublin or other Irish cities. You can also contact to all these organizations with the help of this website. If you still need more information about co-working in Ireland, you may use Coworking in Ireland. By the way, the most popular co-working center of Dublin is Dogpatch Labs.
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