Significance of SEM for Ireland

1.Sell products
No barriers
More customers
500 million
Greater sales&profits

Challenges of SEM for Ireland

1. Competition

2. Government Contracts

Foreign businesses
Boots, Lidl, ALDI
Force closure
2. Shortage of Workers
" brain drain"
Free to move
Skills deficit
3. Gov. Contracts
No longer rely
Advertised to all EU businesses
Contracts awarded to cheapest

Single European Market

World's largest free trade area
Free movement of
goods,labour,capital

Invite tenders
Irish businesses bid
No favouritism
Aer Lingus flying UK gov employees
3. No Border Controls
No border controls, custom checks
No physical inspection
Faster, more efficient
4. Transnationals
Attract transnationals
Help modernise economy
5. Free Movement of Capital
EU citizens can invest anywhere
Easier to raise capital
Borrow from EU bank
Buy shares on EU stock market