Is Ireland incredibly overdependent on multinationals and big tech companies? It’s felt this way for about a decade now and is really looking like an exposure with the very globalised nature of this new recession… are these massive companies as secure as people think… or maybe these companies are ‘too big to fail’ and it’ll all be grand… what are your thoughts?
We are extremely reliant on a small number of firms
While SMEs accounted for 99.8% of the number of enterprises they accounted for only 59.1% of GVA in 2017
Large Industrial enterprises generated 92.0% of GVA in foreign owned enterprises
GVA=gross value added
In Ireland 78.5% of total gross output of industrial units was produced by Foreign owned units in 2017.
_The Top 10 industrial enterprises accounted for 45.9% of all production in Ireland in 2018. _
These 10 enterprises had an aggregate Net Selling Value (NSV) of €55.7 billion, while the remaining 3,963 industrial enterprises reported €65.7 billion.
The Top 50 industrial enterprises in Ireland represented 74.0% of the overall NSV with a value of €89.8 billion. This highlights that the Manufacturing sector in Ireland is heavily reliant on a very small number of enterprises.
It’s like the potatoe famine never happened, twice.
Will the USA bring these companies home after covoid19??? Is that the end of the corporate tax haven,?
Will Irish folks finally open business to cheaper workforce working remotely?
Is this end of Dublin bubble?