With heavy focus often placed on foreign direct investment, it’s sometimes forgotten that family firms are the economic and social bedrock of Irish society, with in excess of 75 per cent of them contributing to more than 50 per cent of Ireland’s GDP, while employing 50 per cent of workers across the country.
They are also present in towns, villages and cities, and in all sectors including retail, farming, animation, food production, engineering, manufacturing, logistics, financial services and technology.
But they face numerous challenges. Due to the current global, political and business environment, there is more uncertainty in the international business and international tax landscape. Therefore, the Irish economy needs to ensure measures are put in place to greater support Irish indigenous family businesses.
Read more on https://www.irishtimes.com/special-reports/family-business-focus/family-firms-face-numerous-challenges-1.3929427
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