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09/03/2020

Number of small businesses in Ireland could double by 2022: New research from FreshBooks

Ireland is famous the world over for its beer, music, and the rolling green hills that have given it the “Emerald Isle” moniker. But it’s also home to a nation of entrepreneurs, and those who aspire to become entrepreneurs. 

The Communications and Research team at FreshBooks recently surveyed 1,500 Irish workers, finding there’s a strong and growing  entrepreneurial streak across the country. 

Overall, nearly one-in-four Irish employees say it’s likely they’ll be self-employed within the next two years. More than one third of these future entrepreneurs, or 250,000 people, indicate that self-employment is their number one goal in life.

 If realized, this would double the number of small businesses operating in Ireland today, to nearly 500,000.

So what’s driving Irish employees to consider taking the leap and working for themselves within the next two years? We broke down their main reasons below:

  • 25% said they’re motivated by financial reasons
  • 20% said they want greater career fulfillment
  • 20% said they want more career control
  • 17% said they’re motivated by family reasons
  • 16% said they want to improve their health and wellness
  • 12% want a career transition

Most prospective Irish entrepreneurs said once they launched their businesses, they anticipated working in the professional services industry. Here’s a breakdown by industry below:

  • 24% – Professional services
  • 18% – Business services
  • 16% – Creative services
  • 15% – Home or personal services
  • 14.1% – IT services
  • 13% – Retail or wholesale services

About FreshBooks: FreshBooks is the #1 accounting software for self-employed professionals and their teams. If you invoice, you need FreshBooks. Try it free with a 30-day trial. 

Methodology: FreshBooks used Google Surveys to interview 1,500 Irish adults who are currently working full or part-time. This study was conducted in February 2020, and its core findings are accurate to within +/-2%, 19 times out of 20. 

Contact: Lindsay Lapchuk, pr@freshbooks.com 

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