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Blog - Page 7 of 7 - Starting a Business in Ireland | Help for Ireland's Entrepreneurs | Start Up Your Own Business

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It is often said that a recession is the best time to start a business. Well-known companies such as General Electric, Hewlett Packard, CNN, FedEx, Burger King and Hyatt Hotels all began in times of recession and all of have gone on to become multi-billion dollar corporations. There are some obvious advantages to starting a business during a recession. For example, office rents are cheaper, it is easier to recruit qualified people at more competitive salaries and other items such as equipment and advertising can be easily obtained at comparatively low prices. There may also be good PR in showing that you are going against the trend. Despite the current

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Getting your business structure right from the start is important, In this post we look at the basic structures of a limited liability company.. What is a company? A limited liability company is a legal entity registered with the Government. It is widely accepted as the preferred structure for conducting business under. A company carries many advantages with it as well as some legal obligations that company Directors must adhere to. Limited companies exist in their own right, distinct from the shareholders who own them. This means their finances are clearly separated from the personal finances of their owners. Shareholders may be individuals or other companies. They are not responsible

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In the majority of cases, start-up success or failure is all about knowing the both the how and the why of taking action, and always being clear about which steps to take next. To help this process, here are 10 essential things you need to know about running a successful business. Use it as a checklist to make sure your thinking and your business plan are on the right track, or if you need to get more information, strategic education or clarity for yourself on your overall vision, your market, or your product or service. 1. Offer what people want to buy, not just what you want to sell. Too

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Start-up businesses can fail for a large number of reasons. It goes without saying that the fewer mistakes made the less likely failure will occur. People provide many tips on how to start businesses successfully but perhaps it would be easier to actually look at what not to do. By overcoming the below common mistakes you will give yourself every possibility to launch a successful business. 1) Capital: Lack of funds can be a major obstacle in starting your own business. It is hugely important to launch your business with the right amount of money. Starting with too little cash is not advised and can be a big mistake. If

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We can wait for that moment of epiphany when the most amazing business idea will suddenly enter our heads, out of the blue. But let’s face it – business ideas don’t grow on trees and sometimes you simply have to go looking for them. So where do you start? Before you start generating ideas, a certain amount of preparatory work is advised: Define the Problem: You may have already established a problem that needs solving but if not, you only have to open your eyes and easy to spot them. Listen to your friends, your colleagues and your customers in your last workplace, read the paper, watch the news –

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We all know the general consensus that people dread visiting their accountant like they dread visiting the dentist.. but it doesn’t have to be all pain and no gain…Here are some tips to take the sting out of a necessary business function, and using your accountant as a service provider to its maximum potential. Gone are the days when you only heard from your accountant when they were chasing cheques or an audit was due. In today’s difficult climate your accountant can play a pivotal role in your company’s success. So for those of you starting up a business, here is a checklist of what you should expect, and if

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The question of whether a person should be classified as an employee or self employed is an important one, David from www.irishaccounts.ie explains the difference.. In a lot of cases, the business owner will want the employee to be treated as a self employed individual because: 1) There will be no liability to Employers PRSI. In some cases employer’s PRSI can be as much as 10.75% of the gross salary of the employee. 2) There is no exposure to unfair dismissal which means that the individual can be hired and fired without any issues arising. There is no obligation to pay a wage every month as it will be linked

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In Ireland, a company is deemed to be audit exempt if it fulfills all the criteria set out below in both the current and previous year; * The company must be a Private Limited Company; * The amount of turnover of the company must not exceed €7.3 million; * The total assets of the company are less than €3.65 million at the end of its financial year; * The average number of employees must not exceed 50; * The company must not be a parent company or a subsidiary company; * The company must not come within one of 19 classes of companies listed in the Second Schedule to the

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