Twickenham, United Kingdom (PressExposure) September 08, 2009 -- There is no question that the global economic downturn has had a particularly harmful effect on Irelandâs economy after over a decade of prosperity. While exports have been resilient, unemployment has surged and the collapse of the real estate market has made getting loans increasingly more difficult. Finance Minister Brian Lenihan is on record as saying Ireland is facing âthe most challenging fiscal and economic position in a generationâ.
But the news is not all bad. The global economic crisis is likely to give rise to a new wave of entrepreneurs who are looking to start businesses in technology, communications, and pharmaceuticals. Despite its recent problems, Ireland has traditionally been a preferred environment for investing venture capital. With one of the lowest corporate tax rates in Europe at 12.5%, Ireland is still a prime location for start-up companies that could become the next big company which creates more business opportunities, jobs and a faster economic recovery.
Still, funds are tight for the friends and family who would normally help young entrepreneurs with raising capital. Sites like The Angel Investment Network offers the chance for entrepreneurs to connect with affluent business angels who can give them the preliminary investment they need to get them started. Angel investors not only provide the capital, but also invaluable counseling that can guide intelligent but inexperienced innovators through these challenging times and supply them with global contacts that can help lead to venture development.
While experts have pointed to an improved economic forecast in the coming year, the time has come for Ireland to not fall back just on its exports and international trade. With science and technology graduates on the rise, an influx of highly educated young workers are entering the labor force and will be looking to start new enterprises that can put Ireland back in the top ranks of global economy.
As one of the largest online angel investment communities in the world, the Irish Investment Network brings entrepreneurs together with angel investors in not only Irish cities like Dublin and Cork; but cities in Europe, the US and worldwide. A list of recent investment proposals from entrepreneurs based in Ireland is available at http://www.irishinvestmentnetwork.ie/home/110 and join the main site over at http://www.irishinvestmentnetwork.ie/ to connect with angel investors and business entrepreneurs today.