Accountancy Ireland’s Post

The Enterprise Research Centre (UK) produced a report last week for Department for the Economy NI evaluating R&D and innovation support. [https://lnkd.in/eZQdSvji] It's a very good report, adding more around how to utilise existing resources more effectively. I thought it would be helpful to summarise the recommendations that caught my eye from a business perspective and contextualise it with other recent initiatives of late. Thanks once more to Sync NI for the opportunity. Open to feedback here or drop me a DM to discuss any part of the article further. Innovate-NI Invest Northern Ireland Workplus Sentinus Matrix Strategic Investment Board Digital Catapult Northern Ireland Northern Ireland Civil Service Northern Ireland Statistics and Research Agency Ormeau Labs Catalyst Enya Carroll #Innovation #Productivity #BusinessGrowth #EconomicDevelopment #NorthernIrelandBusiness #PublicPolicy #SkillsDevelopment

Dive into our comprehensive guide that simplifies the complexity of company formation and expansion in Ireland. 📚💼 Link to guide - https://lnkd.in/d9SNjuTk #EntrepreneursGuide #BusinessInIreland

Excellent piece by Daryl Hanberry of our client Deloitte in today's The Irish Times. "Ireland faces crucial choices," according to Hanberry. But "contrary to the misconception, this can involve both supporting enterprise and prioritising social justice". He argues Ireland needs to do three things: 1)  Evolve and simplify our taxation system to support enterprises and those individuals who work to build them 2) Establish an investment infrastructure fund enabling Ireland to lead in new technologies and sustainable industry 3) Move quicker to address systemic blockers to growth such as housing supply and delivery pathways for sustainable energy. #Irisheconomy #ireland #fdi #irishbusiness #opinionpiece #deloitte #clientnews https://lnkd.in/exXvA92d

Interesting article in the ACCA magazine AB where they analyse the recent departures of major companies from the Irish Stock Exchange to the New York Stock Exchange which stirred concerns similar to a local team losing star players. However, it argues, these moves indicate success rather than corporate malaise, signaling Ireland's competitiveness on the global stage. To sustain growth, Ireland must address tax policies and bolster support for domestic listings, ensuring its pivotal role in European equity markets. As the landscape evolves, strategic initiatives, such as establishing a bespoke cornerstone investor/fund to support IPOs, with a specific emphasis on projects of strategic national importance to address the current lack of domestic institutional capital, can propel the Irish Stock Exchange into a vibrant future, crucial for both its survival and the prosperity of corporate Ireland. Read the article in full below Link here: https://lnkd.in/eaWuaZ6u

In this latest insight, Henry Barrett, Head of International Business, explains why Ireland is a highly attractive location to develop and exploit Intellectual Property ("IP"). Ireland’s attractive blend of a stable, business-friendly climate, straightforward tax system, strategic European location, and specialised knowledge in IP holds significant appeal for global enterprises. This appeal is especially pronounced in an era where IP plays an increasingly central role in corporate growth strategies. Read Henry's full article here: https://lnkd.in/eJSVSUE8

Writing in today's News Letter, Cathal Geoghegan discusses why defining and articulating the region's unique competitive advantages is crucial for economic growth. "Despite the many significant challenges which persist, a sense of resilient optimism is one the many things which could, and should, set Northern Ireland apart as a place to do business, but we need to shout louder about our competitive advantages. "If Northern Ireland is to really compete in a very fast-paced, highly digitised global market, some agile and collective thinking is required. Together, we need to build a proposition which acts as a springboard for economic growth by making Northern Ireland stand out across these islands and further afield." https://lnkd.in/eJaDneNm

As a place to do business, the region is often described as neither too big nor too small, and in many respects is just right for testing new and innovative ideas. It's time therefore to shout louder about our competitive advantages. Time to start building a meaningful conversation about what our proposition could look like; a Northern Ireland which stands out as a test bed for innovation, as a destination for green shoring and as a gateway to EU and GB markets for high growth sectors and the right conditions for investment and growth. It will demand collective buy-in and tough decisions but ones that contribute to the objective of better economic growth. Despite the many challenges, by stepping forward together in 2024, we can create the conditions to allow Northern Ireland to thrive. #resilientoptimism #competitiveadvantage #momentum #nichamber

📊 Ireland's Economic Outlook: Key Findings and Recommendations from Q2 Report 📊 The latest Quarterly Economic Outlook from Ibec provides a comprehensive view of Ireland's current economic landscape. Despite a moderation in growth following five years of rapid expansion, the future and opportunities remain promising with decisive action. Key Insights 💡 ✨ Trade Dynamics: Ireland’s trade environment is facing new challenges, with global trade tensions and potential shifts in international policies. Despite these uncertainties, there's a strong recovery in goods exports, which is vital for sustaining economic momentum. ✨ Investment Priorities: The outlook underscores the need for immediate action on long-term investment plans, particularly in infrastructure projects that can enhance Ireland's attractiveness to global investors. ✨ Labour Market: Employment growth continues, albeit more slowly, which reflects both the opportunities and challenges in attracting and retaining talent in a competitive global market. ✨ Energy Costs: High energy costs remain a concern for businesses. Addressing this through further integration with EU energy markets is crucial for maintaining Ireland's competitive edge. ✨ Infrastructure Needs: To meet the demands of future growth, particularly in housing and transport, significant investments in infrastructure are essential. This will not only support domestic needs but also bolster Ireland’s appeal as a prime location for international trade and investment. Strategic Recommendations 💡 ➡ Boost Infrastructure Investment: Accelerating the delivery of key public projects is essential to support trade and attract investment. ➡ Enhance Skills Development: Investing in education and workforce skills will be critical in maintaining Ireland’s position as a hub for global trade and investment. ➡ Strengthen Energy Strategy: Focusing on energy integration within the EU can help reduce costs and support Ireland’s sustainability goals, making it a more attractive destination for investment. Ireland stands at a pivotal point. Read the comprehensive report and recommendations from Ibec below. #Ireland #InvestmentOpportunities #EconomicGrowth #StrategicFocus #Infrastructure #SkillsDevelopment #Insights

We had an incredible experience showcasing excellence in business management through Deloitte Ireland's Best Managed programme and being named as one of Ireland's Best Managed Companies. 💚 Read more about our #BestManaged journey here: https://lnkd.in/eGMZS8vp. #ClubCodex #DeloitteBestManaged #IrishBusiness

Interested to know what Ireland's Research and Development (R&D) Credit can mean for your business? 💡 Please see my colleague Leah Newport's informative article on the recent developments and benefits for innovative businesses. 📝 🔬 #researchanddevelopment #taxadvisory #innovationinbusiness