Question

Explain why Ireland makes a good choice for a new location for a new software development company.

Answer 1

Solution:

Ireland has seen investments by many US tech giants such as Google, Facebook over the years and it has been attracting many other tech companies to set up their businesses or extended operations in Ireland. The ecosystem that Ireland has developed is very much suitable for tech companies. This is the reason for many tech companies preferring Ireland as their suitable location for conducting the tech business. There are various reasons that had resulted in this favorable ecosystem for tech companies in Ireland; let's see what are those reasons.

Firstly, the tax structure that Ireland has is very much favorable to the tech companies to do business in Ireland. The taxes are lower in Ireland and companies can save significant amounts because of the lower taxes in Ireland, this is why tech companies are increasingly favoring Ireland as their preferred destination to set up the reason.

Secondly, Ireland had witnessed a significant economic downturn and because of which the real estate prices have gone lower in Ireland. Because of the low real estate process in Ireland, it becomes cost-effective for tech companies to set up their operations in Ireland with less capital expenditure and hence the preference by tech companies.

Also, the cost of living in Ireland is very low as compared to neighboring countries such as England. The lower cost of living attracts a large pool of developers to Ireland and hence there is a strong incentive for tech company employees to work in Ireland because of lower costs of living which means they can save more amount from their jobs.

The lower costs of living make Ireland an excellent pool of talent in the tech industry and hence tech companies would prefer to work in Ireland because of quality talent available in Ireland and hence is one of the main reasons to expand to Ireland.

These are the reasons why Ireland is a good destination for opening a new software development company.