What are the challenges?
Challenges doing business in Ireland
Doing business in Ireland is very similar to doing business in the UK. If your product or service is successful in the UK, there is a good chance you will be successful in Ireland.
However, there are certain challenges when doing business in or with Ireland that you should be aware of. These include:
competition against a robust domestic market
costs of doing business can be high
Shipping costs can be prohibitive
Direct debit mandates, Bankers’ Automated Clearing Services (BACS), Single Euro Payments Area (SEPA) and cheques are all widely used in Ireland. Standard payment terms are usually 30 days. However, average payment days currently stand at 55 days.
[Source: UK Trade & Investment/gov.uk (Feb 2016)]
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