Irish firms plot overseas growth in response to domestic recession

OVERSEAS expansion has risen to the top of Irish companies’ growth agenda, with nearly half expecting to achieve over 50% of turnover in foreign markets within the next three years.

A survey by professional services giant Deloitte found 75% of expanding firms are looking at the UK to boost sales, with Germany, France and the US other popular locations. The likes of China, Holland, Poland and Spain are also high on the list of desirable destinations.

Padraig Cronin, Deloitte’s head of tax and legal services, said the interest amongst Irish companies in growing their businesses abroad is “very encouraging”.