Innovatin Enterprise Network logo

Two-thirds of tech firms planning to hire in 2011

Some 66pc of technology firms in Ireland are seeking to hire new staff members in 2011, but companies may not be taking full advantage of R&D tax credit incentives that may be used to hire new people, a new survey by Mazars R&D Tax Group suggests.

The forecasts for 2012 were even better, with the Mazars R&D Tax Group Job Creation Survey 2011 revealing that 77pc of companies intend to take on more employees in that year.

More than half (55pc) of Irish technology firms would hire more staff if R&D tax credit incentives could be used to finance the cost of taking on new employees, the survey shows.

However, a significant proportion (42pc) of technology companies are not aware that R&D tax credit incentives can assist in hiring key new staff.

College qualifications continue to be important in the sector, with 41pc of companies who are hiring additional staff looking for employees with post-graduate qualifications.

Speaking at the Mazars/Irish Software Innovation Network R&D Tax Credit Conference, Mark Byrne, head of R&D Tax Group in Mazars, said these results confirm the outlook was "exceptionally positive" for the Irish technology sector.

“This confirms that continued investment in higher education and the knowledge economy is essential. Our survey confirms that the reward for greater and focused investment in education is greater employability,” he said.

Sorcha Corcoran