Irish Company Setup - Is it Viable in This period of Economic Downturn?

For most, now would not seem the time, taking into account the current economic climate, for new companies to be presenting themselves for business. Thousands of people are losing their jobs from long established enterprises, many of which have been forced to let employees go due to lower business rates, and in some cases such establishments have been forced to shut down completely. End of story. Another formidable thought is the fact that even the majority of Irish banks have had to seek bail outs from the government in order to keep afloat.

Just over two weeks ago the government made measures to protect workers at companies that have gone bust by unveiling the Pensions Insolvency Payment Scheme, which is designed to support workers should their employment be terminated. The doom and gloom that resonates from this measure is evident. So, should those seeking to set up new enterprises be dismayed? Is it viable to formulate and register a brand new company when so many old ones have shut up shop for good? The question is surely this one, will your company provide a service that is needed and not expendable, in this changing economic environment?

At a meeting in Prague recently, European governments agreed on a 10 point program that urged the E. U's 27 countries to fight against long-term joblessness by providing training and job search opportunities in the first weeks and months after an employee loses work. Perhaps this kind of measure marks training and education as the new markets to enter into. More hopeful news comes in the form of the European Commission's declaration on Monday that the end of Europe's recession is within our grasp.

Joaquin Almunia, the European Union's economic affairs commissioner stated that the action taken by governments and central banks should "put a floor under the fall in economic activity this year and enable a recovery next year". So you might just breath a sigh of relief, it is possible that the worst will be behind us within the next two years.

Kathleen  is associated with Companies Made Simple, The Ireland based Company providing Company formation and irish company setup services, offers invaluable online company formations process to register Ireland Company, buy and set up a company very easily.