Are you interested in doing business in Dublin, Ireland? Do you need ideas or information on the best small business investment opportunities in Ireland? Then I advice you read on.
Having an economy that consistently expands at a rate higher than the European Union average, Ireland is one of the best places to do business in Europe. In recent years, Ireland has attracted investment from a wide range of business sectors, such as pharmaceuticals and healthcare, electronics and engineering, financial services, and computer software.
The positive commitment of Irish governments to the development of businesses is the reason behind Ireland’s unceasing success as an investment nation. This commitment has led to a favorable tax environment, fair operating costs, well-developed infrastructure, and a well-educated and versatile workforce. With the above in mind, let’s now look at the best business opportunities in Ireland.
Top 10 Small Business Investment Opportunities in Ireland
1. Clothing and textiles
Due to the booming demand for clothing and textile products, the industry is quickly growing in Ireland. The sector caters to a large local market as well as a foreign market. This means new investors can explore this industry and quickly build successful businesses.
2. Information and communication technology
This is one of the hottest selling sectors in virtually all European countries. Every individual now uses an ICT-related product. In every home, you’ll find an ICT-related product. And most businesses are using ICT in various ways to achieve their business goals. In essence, you’ll find ICT everywhere in Ireland. Because of the huge demand in Ireland for ICT experts, you can make money by starting a business that renders offers various professional ICT solutions.
3. Medical devices
Most Irelanders now conduct self checkups and self diagnosis using certain medical devices that can be operated by the layman. These devices include blood pressure monitors, diabetes monitors, halitosis detectors, and so on. This trend leaves huge profits for businesses that sell and distribute these medical devices in Ireland. To start the business, having a solid background in healthcare is a plus, but not a must.
Non-stop construction of buildings and other facilities is one of the hallmarks of advanced economies, just like Ireland’s. The daily increase in number of new buildings has led to a high demand for businesses and individuals that specialize in construction. So if you are an engineer or some other construction specialist, there are unlimited opportunities for you in Ireland.
The days of buying physically from retail stores are quickly fading away in Ireland, as a sizeable fraction of Irelanders now prefer to buy products they need online. Though the e-commerce industry has big names like Amazon and Ebay, new investors can still break into the industry. But strong USPs (Unique Selling Proposition) and smart marketing strategies would be needed to “snatch” customers from these big brands.
There is increasing awareness everywhere of the dangerous effects of various human activities on the environment as well as the need to protect the environment. To this end, individuals and businesses in Ireland are trying to assist this important cause. But many of them still feel completely at sea when it comes to understanding exactly how to protect the environment.
If you have a good background in environmental protection and green living advocacy, you can start a business that offers professional advice to individuals and businesses on how to protect the environment.
With food and drink being a winner anytime and anywhere, this sector in Ireland is a fertile ground for new investors because there are many sub-niches in it. You can cater to foreigners by offering only foreign cuisines. You can offer only snacks.
You can offer only coffee or ice creams. And you can offer a combination of many options, depending on your capital and choice. Anyone can start a food or drink business in Ireland, as it is easy to start and no formal qualification is required.
8. Live animals and animal products
There is a huge demand in Ireland and neighboring countries for live animals such as poultry and animal products like eggs, milk, and leather. So, by investing in an animal farming business, you will cater to not only an Irish market but foreign markets as well. If you are looking to start a business in Ireland, consider this option.
Granted the demand for “anyone-can-use-it” medical devices, the demand for professional healthcare services still keeps booming by the day. If you are a healthcare professional, starting a business in Ireland that offers healthcare service is a move that will turn out profitable in the long term.
In an ICT driven economy like that of Ireland, the high demand for notebooks and tablets should not be a surprise, since these devices are needed for ICT to thrive. So, selling PCs and tablets is another lucrative business opportunity in Ireland that you might want to explore.