'Ireland needs to incentivise native business, not just foreign-direct investment'
Ireland must make business fairer for native companies competing against international giants.
That's according to entrepreneur Niall McGarry.
Speaking on JOE's business show All In, the Maximum Media founder said that Irish companies aren't being incentivised the same way as major multinationals from abroad.
"The downside to foreign-direct investment is Dell can make a decision to decide to rip out their plant in Limerick and move it to Poland and Limerick has not recovered since," Niall told show host Yvonne Redmond.
"That is something that we as an industry and a nation have to wake up to. Ultimately we can’t be in a situation where the hearts of towns or cities can get ripped out by someone in San Francisco making a decision on our behalf."
Subscribe for free to listen to the full interview here.
While having corporations like Facebook and Google here is positive for the country, he said, small and medium Irish businesses shouldn't be treated the same as them.
"We need to create a new rule book for people who have to compete in the exact same market," Niall continued.
"You’re paying the exact same levels of employers’ PRSI if you’re a ten-person operation in Galway as a huge industry here in Dublin that has a global [presence] and is backed by American money. That is not set up for success in the longer term so there hasn’t been any imagination.
"I would definitely take umbrage with [the idea that] ‘Ireland is the best little country to do business in’. It has a huge amount of advantages for foreign-direct investment. It has nowhere near enough for entrepreneurs on the ground here."
Niall features on this week's episode of All In, JOE's brand new business show.