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Purchase of cloud computing services by Irish enterprises increases

A report released yesterday by the Central Statistic Office (CSO) has shown that 36% of Irish enterprises employing 10 or more persons purchased cloud computing services in 2016, compared to 35% in 2015.

Finland had the largest percentage of enterprises in the EU purchasing cloud computing services at 57%, while both Bulgaria and Romania had the lowest take up rate at 7%. The most popular cloud computing service purchased by Irish enterprises in 2016 was the storage of files at 27%, while 26% of Irish enterprises purchased e-mail services.

Furthermore, the report shows that Irish enterprises ranked 4th in the EU when paying for Internet advertising. Thirty four per cent of Irish enterprises reported to have paid to advertise on the internet in 2016, such as on search engines, social media and other websites. The EU-28 average was 25%.

The most popular advertising method was based on webpage content or keywords searched by users with 27% paying for this method. Fifteen per cent opted for advertising based on the geolocation of internet users with 13% based on tracking internet users’ past activities or profile. Sixteen per cent opted for other targeted advertising methods.

Not surprisingly, over half of large enterprises conduct their sales electronically. In 2016, 52% of large enterprises had e-Commerce sales which accounted for 46% of total sales of such enterprises.

Twenty six per cent of small enterprises had e-Commerce sales which accounted for 23% of all sales in this size class. Forty seven per cent of medium sized enterprises had e-Commerce sales which accounted for 22% of their total sales.

Article Source: Business World

UK is the Top Destination for Emigrating Irish Professionals

The UK is the top destination for emigrating Irish professionals during the year to October 2016, according to new data released today by LinkedIn.

According to the data, 28% of talent that left Ireland moved to the UK with net losses in the healthcare, architectural & engineering and professional services sectors between both countries.

The report shows that Ireland continues to be a net beneficiary of professional migration with more talent moving to the country than emigrating.

The software sector attracted the most professionals with the Irish tech industry continuing to lure talent to the country thanks to the presence of a range of multinationals and a flourishing indigenous industry.

India, France, Brazil and Italy respectively accounted for the largest contribution of professionals moving to take up positions in the Irish software sector.

LinkedIn’s data revealed that the top five sources of professionals moving to Ireland during the period were Brazil, India, Italy, France and Australia. The industries that experienced the largest levels of growth were:

1. Technology (Software)
2. Architecture & Engineering
3. Healthcare
4. Technology (Hardware)
5. Oil & Energy

In contrast the regions that attracted the most professionals from Ireland were United Kingdom, United States, Canada, Germany and Spain.  While a significant proportion of UK professionals also moved to Ireland, more Irish talent moved across the Irish sea resulting in a net loss.

The countries that accounted for the largest shares of net migration to Ireland were:
1. Brazil
2. India
3. Italy
4. France
5. Australia

The countries that accounted for the largest shares of net migration from Ireland were:
1. United Kingdom
2. United States
3. Canada
4. Germany
5. Spain

For more on this article, please visit: Business World

Irish Startups hindered by negative banking perceptions

New research published by Trinity College today shows that firms in Ireland have the greatest non-application rates with banks because of fear of rejection.

The research indicates that many companies who might well have good projects and which might make attractive loan prospects will not apply to banks for loans for fear of being rejected.

A survey looked at 6,287 small and medium companies across nine Eurozone states. It found that non-application for fear of rejection placed Ireland at the top with 44% followed by Germany (24%), Greece (19%), Belgium (18%), Austria (17%) and Spain (17%).

For more on this article, please visit: Business World

46 % of Irish say money is their main worry

A recent survey from Royal London has indicated that four in ten (40%) of Irish people say their health will be their main focus in 2016.

The nationwide survey of 1,000 people found that health is by far people’s biggest priority (40%) while money is their biggest worry (46%).

The protection experts at Royal London say that it’s also no surprise that people are making health a bigger priority as they get older. Twenty seven per cet of 18 to 34 year olds say they’ll be focusing on it this year which jumps to 42% of those aged 35 to 54 years old and increased to 58% of those aged over 55.

Nearly a quarter (24%) of all male respondents said their career will be their main focus in 2016, compared with just 17% of women.

For more on this article, please visit: Business World

Ireland has the most successful recovery in the Eurozone Periphery

Fitch ratings agency yesterday released a report which shows that a divergence has started to develop in the eurozone periphery as the economic recovery in the eurozone takes hold.

The report compares the recent macroeconomic performance of the four largest peripheral countries – Italy, Spain, Portugal and Ireland – with a focus on the divergence and its potential drivers.

It finds that Ireland is the most successful among the four peripheral countries and by most metrics an outlier. According to the report, the recovery and ultimately the growth potential was helped by the high level of openness of the Irish economy.

The report indicates that confidence in the financial sector was boosted by early bank recapitalisation, though the forbearance of NPLs prevailed for a longer period and fiscal consolidation has continued during the recovery.

For more on this article, please visit: Business World