Startups.ie

[paddy]

Hi,
I was just wondering if anybody can tell me how long it takes to set up a small business in Ireland. Is there much red tape or is it a relatively straight forward process?

Thanks
Paddy

[Stephen]

Hi Paddy,

In my opinion it is fairly straight forward but at every step expect a little annoying red tape. For example, you want to register a .ie domain for your business, fairly easy but you will need to prove that you have a business relevant to the name being registered....shuffle shuffle

Want to open a business bank account again lots of fiddly annoying little bits to be done (no chance of getting it done in one or even two visits to bank!).. all sorts of certs etc. required

Registering for Tax- no problem here but now you are on the radar and the VAT/PRSI return forms come in pretty fast and furious followed by the warning letters...

Insurance easy as you are spending money, these forms will be filled out v quickly...

I have always said that in business things cost twice as expected and take three times longer, I am yet to be proved wrong on this...

Setting up a business is however about all of this, you plod and struggle and fight and keep going no matter what and that is what counts...

The more businesses you set up the quicker and less annnoying all of the above becomes...on a practical note I always use a company formation service a little lazier and a bit more expensive but a lot easier...

Hope this helps,

S

[Barry]

Hi Paddy,

I am at the tail end of setting up a company and here is my experience:

.ie domain registration: I used someone who already had a business set-up to register this for us

then...

Got the company registered using http://www.companysetup.ie. This costs a couple hundred, but I would not have been able to do this myself and they are really helpful and have great post purchase support.

then...

Used AIB to set up a business ban account. This was/is a pain in the neck. Admittedly, one of our directors is London-based so this added slight complications, but even still this was a bit of a nightmare.

then...

I am yet to register for VAT/PRSI, but we're going to do that when we need it because of the point Stephen raised, i.e., you're then on the VAT radar. For this there are desktop applications available via http://www.ros.ie/AIR/RevenueDesktop.html that will give you reminders when forms are due and allow you to submit electronically. In general, Revenue really want the process to be easy so they tend to be incredibly helpful.

So, simple enough, but be patient. Don't be afraid to ask the bank, CRO, or Revenue what you need to get set-up. All these tasks are associated with the start of a business so, unless you've done it before, you have no way of knowing the process.

Good luck. I hope you've made the plunge.

Barry