Open a Consulting Business in Ireland
Open a Consulting Business in IrelandUpdated on Monday 30th October 2017
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A consulting business in Ireland can provide access to a developing market, which has an annual value of EUR 700 million. Starting with 2012, the business consulting industry in Ireland has been steadily increasing, registering annual growths ranging from 6% to 11%. Investors interested in setting up a company in Ireland in this sector can establish their operations in one of the multiple business activities that can be delivered by a consulting business and our team of Irish lawyers can offer in-depth advice on the main aspects regarding the incorporation, as well as on the specific employment regulations applicable to persons working in this industry.
Types of activities for Irish consulting businesses
When setting up a consulting business in Ireland, the investors may choose one of the following activities:
• finance and risk;
• people and change;
• other related activities.
The top sub-sectors for Irish businesses offering consultancy services is represented by the operations and technology fields (accounting for a share of 30% and 23% respectively), measured in terms of the income deriving from the applicable fees. Our team of lawyers in Ireland can provide legal assistance on the procedure of opening a business in one of the above mentioned fields.
Most of the services of a consulting company are delivered to other local entities, as 89% of the revenue in this sector is obtained from local clients.
The companies in Ireland performing consulting services also cater their activities to European countries (10%), while partnerships outside the European Union represent only 1% of the total revenue.
Hiring a consulting specialist in Ireland
In order to carry out consulting services, the company will need to hire employees with a specific background related to the field. In this case, it is necessary to hire a consultant, who must have a comprehensive knowledge of the client’s business, in order to assess the main advantages and risks deriving from that particular company.
A consultant may need specific licenses, depending on the activity he or she will perform in the company and the person should have the capacity of creating new strategies and to plan accordingly.
Businessmen are invited to contact our law firm in Ireland for in-depth information on other aspects that should be completed when registering a consulting business in one of the Irish regions.