If you are thinking about starting a new small business in Ireland then you are in the right place. Ireland has established itself as a thriving hub for various industries in recent years. At present it is one of the most attractive destinations for entrepreneurs mainly because of Ireland’s pro-business environment, skilled workforce, and strategic location within the European Union. Whether you are a local or an international investor, there are numerous business opportunities to explore. Here in this article, we list down a list of the best and most profitable business ideas in Ireland along with some frequently asked questions.
List of Profitable Business Ideas in Ireland
Ireland is one of the most business-friendly nations in the world. Starting a professional business consulting business is worth considering. Both individuals and businesses require professional services such as Event & Wedding Planning, Legal Services & Will Writing, marketing consulting, IT solutions, manpower recruiting, etc. You can also buy franchises from companies like Antal International, Auditel, LMI, etc.
#2. Cleaning Service
The cleaning industry- residential, commercial, and carpet- is booming in Ireland. The Irish cleaning industry is worth millions annually. You can consider being part of this stable, recession-proof profitable industry. There is a variety of niche markets in the cleaning industry.
The main categories are residential and commercial cleaning services. You can focus on residential maid services, janitorial services for commercial facilities, carpet cleaning, window washing, ceiling tile cleaning, driveway brightening, etc.
You can also buy a franchise from companies like PuriFry, Nationwide Cleaners, Cleaning Doctor, Chem-Dry Ireland, etc
#3. Sports & Fitness
If you’re looking to become a part of a profitable growth industry, sports, and fitness-related business is definitely one sector you must consider in Ireland. With the recent data showing a huge increase in the number of people participating in sports activities, sports, and fitness-related business ventures are experiencing success.
People are looking for ways of relaxing to spend their leisure time. There is also a huge need for fun, exciting ways to fight obesity trends among Irish citizens.
You can also buy a franchise from companies like Curves, My Gym Children’s Fitness Center, Acumen Sport, etc.
If you enjoy working with or have an appreciation for cars, starting a small automobile-related business is a profitable option. The automotive industry in Ireland is growing at a fast pace and showing no sign of slowing down. With approximately 30 million cars on the road in the UK, Ireland is the right place to start an automobile business.
Used car dealerships, car valeting, tire repair, minor Damage, cosmetic repair, automotive repair tools sales, auto insurance sales, etc. are some of the businesses you can start with low money.
You can also buy a franchise from companies like Snap-on Tools, Lock Doctor, Puncture Safe, etc.
The food and beverage industry is one of the leading industries in Ireland. Accounting for 9% of Ireland’s economy-wide GVA, the food, and drink sector dominates Ireland’s economy. Foodservice options like fast food, pizza, Asian takeaway, Smoothie and Juice Bars, and coffee shops have huge business potential in the thriving economy of Ireland.
You can start out with a very small staff and hire more employees as demand grows. You can also buy a franchise from companies like Wok&Go, Subway, PuriFry, Shakeaway, Insomnia, etc.
More and more people in Ireland are now buying products online. Online marketplaces are slowly taking over brick-and-mortar retail stores. If you have a unique product or service to sell, starting an online store is a good business proposition here in Ireland.
Real estate is another booming industry in Ireland. If you are an engineer or have experience in construction-related business activity, you can consider entering this field. The property market flourishing in Ireland at a fast pace. Hence businesses like real estate development, property management, or construction services can be profitable ventures here. If you have a limited budget to invest, you can also start a real estate agency.
There are plenty of products that are exported from Ireland. More than $83 billion value of goods are exported from the country. Pharmaceuticals, organic chemicals, and medical devices are the major three exportable items in Ireland. In addition, meat is also exported in large quantities. If you have some overseas contacts, starting an export business is a good business decision.
If you have vacant land, farming can be a good money-making business in Ireland. There is a good demand for agricultural products both domestically and in neighboring countries of vegetable and animal products. Poultry, egg, and potato farming can fetch you good profits.
The clothing industry in Ireland is growing at a fast pace. If you have some experience in the clothing industry, there are plenty of options to enter this field. Starting a fashion boutique, for example, have good money-making potential here in this part of the world.
These are the top trending small business opportunities in Ireland to start with low investment. it is advised to select a business idea based on your expertise and passion to be a successful business owner.
More Business Opportunities in Ireland
11. Technology and Software Development
Ireland’s tech ecosystem is thriving. Companies like Google, Facebook, and Intel have a significant presence here in this country. You can consider offering software development, app creation, or IT consulting services.
12. Renewable Energy Solutions
Ireland is committed to green energy. If you have the necessary knowledge, start a business in solar panel installation, wind energy solutions, or energy-efficient products.
13. Tourism and Hospitality
Ireland’s rich culture and natural beauty attract tourists. Open a B&B, hotel, or restaurant, or offer guided tours to showcase the country’s charms.
14. Health and Wellness Services
There is a growing demand for self-care facilities in Ireland. You can tap this market by starting a wellness center, gym, or yoga studio, or offering specialized health services.
15. Creative Arts and Entertainment
Ireland boasts an enormous artistic heritage. You can tap into it by opening an art gallery, theater, music school, or organizing cultural events.
Frequently Asked Questions
How to Start a Business in Ireland as a Foreigner?
Ye, non-Irish citizens can start a business or a company in Ireland. Actually, forming a company is not at all difficult in the country. However, you have to follow a certain set of rules and steps to start a company in Ireland as a foreigner. The basic steps are as follows:
- Select a Location
- Choose a Company Structure – It can be a Private Limited Company(LTD), Public Limited Company(PLC), or Partnership.
- File with the CRO (Companies Registration Office)
- Open a Business Bank Account
- Obtain a Company Seal
- Register for Taxes with the Revenue Commissioners
What are the Best Cities in Ireland to Live and Work in?
The top 5 cities in Ireland to live and work are the following:
Big MNCs like Apple, Facebook, Microsoft, Dell Technologies, and Amazon operate in these cities of Ireland.
What funding options are available for startups?
Ireland offers various funding opportunities, including government grants, venture capital, angel investors, and bank loans.
What are the tax implications for businesses?
Ireland has a competitive corporate tax rate. You must familiarize yourself with corporation tax, VAT, and other relevant taxes.
What resources are available for business support?
Ireland offers a range of resources, including business networks, chambers of commerce, and government agencies dedicated to supporting entrepreneurs.
7. Can foreigners start a business in Ireland?
Yes, foreigners can start a business in Ireland. However, it is essential to understand visa requirements and residency rules.
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