There is a large array of supports for starting a business including advice, information, training, mentoring, social welfare allowances and reliefs, and sometimes direct grant aid assistance for researching a business idea, employing people or investing in equipment.
Businesses that receive grant aid are those that have been identified as having potential for providing long-term viable jobs. Therefore, the support agencies are interested in the areas of business that are innovative, fill new market niches, replace imported products or services, demonstrate good management skills and have the financial viability necessary to succeed. Although most start-up businesses do not receive cash grant aid, all can avail of information and advice.
Grant aid assistance is targeted only at very specific sectors, regions or activities that have been identified as most likely to provide opportunities for economic and employment growth in Ireland.
Extensive research has been carried out to identify the reasons for business failures. For example, some activities have too many people in them already and cannot support more. Other activities may only be viable if the company is of a certain size or can fulfil a specific product need.
Areas such as retail trade must compete in the open market to operate successfully and, as such, are never grant aid assisted as it would give that company an unfair advantage over others. Training in good management skills or technical improvements is often more valuable to businesses in the long term.
You need to do some basic market research to establish that a market exists, its size and how you can access it, before contacting your local Enterprise Board or Area Partnership (or Enterprise Ireland, Shannon Development or Udaras na Gaeltachta, if you expect to employ more than 10 people soon after start-up). Next you need to do more market research and write a business plan.
Yes, you do. Of course, you can start a business without a business plan. But you will have difficulties in raising finance or accessing support from banks or Enterprise Boards.
Even if you don't need finance, a business plan provides an invaluable framework for planning how your business will proceed and later as a benchmark for assessing the health of your business. It ensures that you know what is going on in all aspects of the business and have a method for seeing how the activities interact.
Successful entrepreneurs will tell you that planning is 90% of the effort required.
Your local Enterprise Board may be able to help (it will not provide grant support in excess of €75,000). If this is not sufficient for your needs, you should inquire from the State body responsible for promoting industry in your sector (for example, Bord Bia or Bord Iascaigh Mhara) whether your business qualifies for one of their schemes.
The main banks all have specialist units to support small businesses, which offer special terms (including borrowing at low rates) to start-ups. Each of the Enterprise Boards has access to an Enterprise Fund to support attractive projects. First Step may be a source of finance for the entrepreneur who has unsuccessfully exhausted conventional funding sources.
Childcare is a major issue for parents and employers alike nowadays. To encourage additional childcare places, the Department of Justice, Equality and Law Reform's Equal opportunities Childcare Section is making available grants for buildings, renovating, upgrading and/or equipping childcare facilities to cr�che operators with more than 20 children under their care.
The Department also administers funds for Community Creche facilities and provide employment grants.
Grants for B&B's may be available from Regional Tourism Office or LEADER Groups. However, they are unlikely to be given in areas where B&B's are already plentiful. Check first before building a grant into your plans.
Generally, you need to apply to the owner of the centre (for example, Enterprise Boards or local enterprise development groups). You may be offered premises if your business fits within the kind of activity the owners are promoting for the Centre. Kerry County Enterprise Board does not own centres in the county but has part funded a number of initiatives. Give us a call and Martin can advise you as to what is available.
The use of a private residence for business purposes is usually subject to planning permission. In most cases, local authorities will not require planning permission (or deny it, if it is applied for) where there is no impact on neighbouring properties. For example, a financial consultant who does his/her paperwork at home but meets clients on their own premises would expect little difficulty in relation to planning permission. But opening a garage to tune performance cars might bring complaints form your neighbours - and a refusal of the necessary planning permission. Conditions vary around the country. Check with you local authority's planning department before making any decision. You should also check with your mortgage provider or landlord, in case they have any objections, before you start to work from home.
Generally speaking, yes. All the enterprise support agencies subscribe to the idea that it's better to spend a little money to see whether an idea will work than to waste a lot of money only to see it fail because something was overlooked. Enterprise Boards are the main source of feasibility grants. You should check with your local Enterprise Board for availability and conditions, as these may vary.
You can register both with the Companies Registration Office. The CRO website (www.cro.ie) provides information on the process.
Only if your turnover is in excess of (or you expect it to be in excess of) �25,395 for services businesses or �50,790 for businesses selling physical goods. Below these amounts, you may choose to register but you should first obtain professional advice from your accountant. The Revenue Commissioners publish a "Starting a Business" guide and other leaflets, which may be obtained from any tax office, the Revenue Forms and Leaflets Service at (01) 878 0100, or the Revenue's website (www.revenue.ie)
EU nationals may work in any member State. Non-EU nationals require a work permit (except for certain categories of workers who qualify under the "Fastrack" scheme). FAS may be able to help you with recruitment, through its overseas jobs fairs, "Overseas Recruitment", a booklet published by Enterprise Ireland, is essential reading.
A non-EU resident who plans to establish a business in Ireland must apply to the Department of Justice, Equality and Law Reform with:
In addition, the proposed business must employ at least two non-family members, who must be Irish or EU nationals. Work permits are not required for non-EU nationals who establish a business, though they may be required for any staff who move with the business.