As a business manufacturer, it is often important to know where the best place to set up shop can be. While it can be tempting to outsource to another country entirely, it might actually be your best bet to set up a manufacturing hub in Ireland. This guide has been specifically created to help you understand why, no matter whether you are a manufacturing manager or simply just interested in this industry. To learn more, take a look at the guide that has been created for your reading pleasure below.
Hub for Pharmaceuticals and MedTech
Ireland is a global hub and world leader when it comes to pharma and MedTech. This means that if you are looking to start a manufacturing business that helps create these types of supplies, you are definitely in the right place. It is worth seeing which demand there might be within these industries and then identifying a way to meet that demand.
The days of the so-called "Celtic Tiger" might be long gone, but relatively speaking, Ireland still has one of the strongest economies not only in Europe but across the entire world. This means that your manufacturing business will definitely be among good company and have the financing and infrastructure it needs when you decide to finally set it up in Ireland.
Role Within The EU
Ireland is in a unique position in that it shares a border with the UK but is also part of the EU, meaning that it has a frictionless trade deal with 26 other countries, spanning from Portugal to Estonia. This means that if you have a manufacturing hub within Ireland, you can export within one of the world's biggest financial markets without very much red tape.
High Immigrant Population
Another byproduct of Ireland's EU membership is a continuous flow of migrants from lower-income countries like Poland, Lithuania, and Croatia. These workers usually want to take part in manual labor, meaning that you have a keen and willing force to pick from. This means that you are unlikely to have any staffing shortages when you start a manufacturing hub in Ireland. When you do start your factory, make sure that you have the right automation tools, such as an autonomous pallet truck or drones, to help these workers before you get started.
Proximity to The UK
Unsurprisingly to anyone who has ever looked on Google Maps, but Ireland — which shares a border with Britain to the north — has its biggest trading partner in the UK. This means that if you are looking to export to the UK and make a lot of money in the process, setting up in Ireland is one of the best ways to do it with the least amount of friction. Given the increased demand that is currently rising in the UK due to the many different effects of Brexit, there is good reason to set up in Ireland today for a steady start and strong outlook in the future.