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Ireland, the Top Destination for High-Growth Companies

Written by: Editor

Ireland-the-Top-Destination-for-High-Growth-Companies.jpgIt is a known fact that Ireland is amongst the top European destinations preferred by foreing investors for starting a business, but according to the latest study conducted by Eurostat, the statistics office of the European Union (EU), the country was also the first economy with the largest number of high-growth enterprises. Businessmen interested in opening a company in Ireland must know that the results are measuring the data for 2015. Also, the high-growth enterprises operating here had a positive effect on the employment market, which is expected to reach full employment in 2018. Our team of consultants in company registration in Ireland can offer in-depth assistance on the employment regulations available for Irish employers
 

High-growth companies in Ireland: definition 

 
Eurostat mentioned that Ireland increased in the ranking for high-growth companies by 3 places, compared to the previous year (2014). According to the institution, a high-growth company designates a legal entity in which the average growth rate related to the number of employees increased by more than 10% in a period of three years.
 

Employment in European companies

 
 At the level of the EU, high-growth companies provide jobs for more than 13,5 million employees
 
Eurostat presented that EU has approximately 158,000 high-growth companies, increasing in number compared to the previous year, when the overall number was estimated at 145,000. Another important aspect is that the largest proportion of high-growth businesses performed activities in the services sector
 
Other top activities were the following: 
 
administrative and support services sector;
transportation and storage;
professional, scientific and technical activities. 
 
Our team of agents in company registration in Ireland can offer in-depth advice on the regulations for setting up a company in one of the above mentioned sectors. 
 

Data on high-growth companies in Ireland  

 
In Ireland, at the level of 2015, there were 2,806 high-growth companies, which represented an increase of 14,9% compared to 2014. The results of the study showed that such companies are very important for the local economy, as 1 out 5 employees in Ireland are employed in high-growth companies
 
The following European countries are: 
 
Hungary;
Portugal
 
Investors interested in Irish company formation should know that, under the Budget 2018, legal entities established as small and medium sized companies can benefit from tax reductions related to the taxation of the employees. Please contact our team of specialists in company formation in Ireland for further information on this subject. 
 

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