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Foreign nationals start new businesses in Ireland ONE-in-10
businesses started in Ireland is now done so by foreign nationals.
This is according to Bank of Ireland who said the most popular industry
sectors for these new start-ups are restaurants and food-related businesses,
construction, consultancy and retail enterprises.
They also said that 17 per cent of the foreign nationals surveyed planned
to start their own business in Ireland over the next five years.
BOI has launched a new business banking proposition for Polish customers,
which they said is the first initiative of its kind in Ireland.
Damian Young, head of small business at BOI, said: “Latest projections
show that the foreign national population could grow to 19 per cent by
2020.”
“We have recognised the changing needs of our customer base and
this is the first in a range of SME initiatives due to be launched to
foreign nationals by Bank of Ireland.”
Over the last six months BOI has carried out research on foreign national
customer needs and found that access to translated information and a lack
of understanding of Irish banking terminology were the main concerns articulated.
As part of the new BOI initiatives a Polish Business Start Up brochure
has been developed which includes a range of free banking services for
two years.
BOI also has 80 Polish branch staff members located around the country
as well as a Polish information section on the BOI Business Banking website.
Tadeusz Szumowski, the Polish Ambassador to Ireland, said: “I am
delighted to be involved in this milestone announcement for the Polish
community. Bank of Ireland is proactively improving its service for new
customers and this new initiative will be of immense assistance to Polish
people interested in starting a business in Ireland.”
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