2nd Apr 2014

Irish Technology companies predict major expansion in 2014

Seven out of 10 indigenous Irish Technology companies increased their turnover by an average of 30% last year and six out of 10 are now looking outside Ireland for their main market, according to a major survey of the sector. As well as having a strong multinational presence in Ireland, there is a scaling indigenous Technology sector worth €2 billion in annual sales. This sector alone employs 30,000 people accompanied by a buoyant emerging Technology start-up ecosystem that has evolved across the country. The Technology Outlook Report, published by AIB today (Thursday, March 27th) and conducted by Amarach Research, reveals surging confidence among Irish Technology companies that they will continue to enjoy significant growth in 2014 and beyond. Almost nine in 10 (87%) believe their outlook for 2014 is better than 2013 and three quarters (74%) plan to grow their workforce this year.  There are also challenges facing the Technology sector, he biggest of which appears to be the issue of scaling their operations to deal with the anticipated growth and expansion. Full story here.