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Investment Overview
More than one thousand market-leading overseas companies have already selected Ireland as their main European base.
- One of the most attractive business environments in the world – The Economist Intelligence Unit
- A regulatory environment which encourages competitiveness – IMD World Competitiveness Yearbook
- Some of the least-restrictive product market regulation amongst developed countries - OECD
- The second-freest economy out of 41 countries in the European region – The Index of Economic Freedom
And financial incentives play their part too in making Cork a prime business location. Overseas companies are attracted by Ireland’s low corporation tax – just 12.5 percent compared with 28 percent in the UK.
In addition, the Business Expansion Scheme (BES) and Seed Capital Scheme (SCS) provide vital tax-based support to existing or start-up SMEs. These significant reliefs have been extended to run up to at least 2013.
Another very attractive incentive for businesses locating here is a tax credit that’s available for R&D outlay. When a business invests in an R&D project that qualifies under the scheme, it becomes entitled to an extra tax credit of 20%.
Indigenous Irish SMEs can talk to Enterprise Ireland about its Growth Fund which provides financial aid under the following headings: capital investment, technology acquisition, recruitment of key managers, consultancy services, management development and staff training.
Cork’s four enterprise boards (see links below) help to fund small business start-ups and expansion.
For more information on relocating to or investing in Cork, email info@corkmarketingpartnership.ie or telephone +353 (0) 21 4317895.