Business costs up 20% for IT firms

THE cost of doing business in Ireland for technology companies has increased by 20% since 2002, according to study of business costs by industry lobby group ICT Ireland.

Director Kathryn Raleigh said yesterday Ireland will not attract foreign investment if costs continue to rise.

“By increasing business costs to this extent, we run the risk of eroding our competitive position and losing our attractiveness as a location of choice for (foreign direct investment),” Ms Raleigh said.