Are you looking to grow your business by expanding to new markets?
One of the advantages of setting up a business in Ireland is access to the highly desirable European market. Many of our clients from outside Europe choose to set up here, not only to do business in Ireland, but also as a base for their European operations.
While the rate of Irish exports into Europe is continuously increasing, a majority of this is into the UK rather than to our other EU partners. As the UK's exit from the EU means uncertainty in the ease and profitability of these exports, it's an even better idea for Irish businesses to look to the rest of Europe.
It's amazing how few Irish businesses take advantage of this great opportunity to sell to markets, right on our doorstep, when there is so much advice and assistance available.
A business based in a country in the European Union (EU) can take advantage of the following treaties in place to encourage and assist business across the EU:
- free movement of citizens
- free movement of goods
- freedom to establish a business
- freedom to provide services
In addition to trade with countries within the EU, there are agreements with the rest of the countries on the continent in the EEA and European Free Trade Association (Liechtenstein, Iceland, Norway and Switzerland) to encourage and assist with reaching these markets as well.
Here are a few resources to help you to start doing business Europe:
The European Commission's website with a vast amount of information on life and work in the EU.
Most companies don't realise that there is an initiative to encourage businesses in the EU, especially SMEs, to tender for projects outside their own countries.
The European Services Directive requires each country to have a Point of Single Contact, an online portal, for information on setting up a businesses in that country. The portal includes information on regulations, requirements, procedures, etc.
Information on a country by country basis on banks and venture capital funding supported by the EU.
Service to assist with cross border issues "arising from the misapplication of EU rules by public authorities".
The European Job Mobility Portal for employers and jobseekers.
The network, with offices throughout the EU, is funded by the European Commission and provides advice and assistance for doing business in other EU countries. The EEN sets up trade visits, organises and promotes events and maintains a database of over 13,000 partnership opportunities submitted by businesses looking to expand into other EU countries.
Portal with information on a wide range of topics.
Web based application to distribute and manage documents.
The Association of European Chambers of Commerce and Industry
Lobby representing businesses across Europe
The Irish government body to assist businesses to grow internationally. With a network of offices in Ireland and around the World, they provide training, funding, access to research and data, events (i.e. trade fairs and missions) and advice.
With this much information and assistance available, there's really no reason you can't grow your business by selling and expanding into Europe.
Our membership in the Enterprise Worldwide network of accountants around Europe and the rest of the world, gives us an advantage to help clients move into these countries.
To get advice on Doing Business in Europe,
click here to email or ring +353 (0)23 8835287.