Five reasons why you should set up business in Cork City
Traditionally Cork may have been overlooked as an innovative place to do business as many would have favoured Dublin as their first choice due to the large talent pool and location. However, with the evolution of the city and the growth of the workforce, Cork City is quickly becoming the newest hotspot for start-ups and business expansion.
Cork City has a distinguished reputation for being forward thinking and innovative and there are several reasons why investors and companies choose to set up businesses here. We have researched the top five reasons why you should choose Cork as your new business location.
Cork City is the country’s second largest city and is often called the capital of the south. It is a hive of industrial and economic expansion and is conveniently located just two and a half hours from Dublin city centre via rail and is a short one hour and 25-minute flight from London, making it a key gateway to Europe and the US.
The region has grown from strength to strength over the past number of years, attracting multinational companies like Apple, Facebook and Eventbrite among many other market leaders who now call Cork their home. Michael Kelly, Managing Director of Glandore mentions that “There are over 32,000 people working at over 150 multinational companies across a range of sectors in Cork”. The location has continued to capture the attention and interest of businesses who are expanding or just starting up due to its reputation for innovation and its supportive, vibrant start-up environment “with 50.4% of space in 2017 taken by overseas companies”.
Cork has a highly skilled work force and companies who choose Cork City as their location for business will have access to a large pool of talent. This talent stems largely from graduates of both University College Cork and Cork Institute of Technology. UCC was named Sunday Times University of the year for 2017 and is internationally known for its scientific research excellence. CIT was named ninth best college in the country this year and the Institute is best known worldwide for its support and development of innovation in business. The city is currently home to around 40,000 motivated young minds and it is no wonder businesses are making their way to Cork to expand and gain access to some of the most skilled graduates the country has to offer.
Public transport services in Cork City are both accessible and affordable. A typical intercity bus journey will cost you €2.20 and Irish rail services extend throughout the Munster region with links to the rest of Ireland providing residents and visitors easy access to and from Cork City from almost anywhere on the island.
If you have ever lived or worked in Cork City you will already be aware of its compact city centre. This allows residents to travel to and from work on foot, making the city a little less congested. The region also has an international airport located just outside the city with routes to all major European cities and connections to the USA, making it ideal for business development opportunities and easy access to the wider market.
Cork was named best small city in Europe for business friendliness in 2018; with organisations like the CORE partnership which bring together Cork City Council, Cork Chamber, and Cork Business Association, and several others who offer support to small, medium enterprises, it’s easy to see why. These organisations have helped and continue to help create and develop new business opportunities.
Michael Kelly, Managing Director of Glandore explains that “There is great energy, passion and collaboration in Cork at present which is evident by the recent launch of the “We are Cork” initiative. This collaborative and can-do approach to business is very much consistent with Glandore’s values and we look forward to working with the local business community to showcase Cork as a great place to live, work, invest, study and visit”.
Glandore hopes to add to an already great business support network in the region by providing space for business to grow and expand, offering flexible workspace options for members and remote workers in Cork.
The Population Expansion – Project 2040
Ireland’s population is set to increase by 1 million over the next 20 years, and Project Ireland 2040 expects that Cork will take 20% of this growth. This projected growth in population makes Cork a more attractive business destination as more people means more choice. The city is expanding rapidly and with offices like Glandore currently under development in the city centre, it creates spaces and support for future business, while also providing a place where start-ups can flourish, all while promoting remote working with the same benefits you would get working with a large company.
Companies who believe Cork is the future
Apple is one of the biggest tech giants in the world, is the largest privately-owned employer in Cork, and has been based there for over 35 years. It currently employs 6,000 people throughout Ireland supporting all aspects of the business; Apple’s Irish team has doubled in size over the last five years and includes over 80 different nationalities.
Facebook has opened an office in Cork City for Oculus which creates and develops virtual reality headsets in low-power display, this is fast becoming the future of the tech industry. This expansion to Cork has created jobs and research positions, while also making Cork an attractive place for business as a key player like Facebook is now calling it home.
Eventbrite was founded in 2006 and since then has processed $10 million in ticket sales. The global ticketing and event technology company opened its Irish headquarters in Cork City earlier this year. The company saw Cork as an attractive location to set up their newest offices and are actively recruiting new hires in the region.
Glandore has been providing flexible workspace in Ireland for 18 years. Our new Cork offices are located on Lapps Quay, just a five-minute walk from the Cork Docklands which at present is the city’s developing CBD.
If you would like to find out how Glandore can help you set up your business in Cork City, get in touch with us for a tour of our new building on Lapp’s Quay or call us to discuss your flexible workspace requirements.