Business Startups

We advise our Clients on a range of fund raising options including Investor Finance / Equity, Tax based Investment, Leasing, Acquisition Finance and Working Capital Finance. We have built up key relationships and have substantial experience in applying for and negotiating different financing arrangements. We also assist in the preparation of both grant and loan applications.

Businesses should give themselves the best chance of success by obtaining professional advice. We have considerable experience in this area and we base our advice on sound projections and specific analysis. We establish both how, and over what period funds will be utilised and where specialist advice is necessary, such as obtaining grants or venture capital.

The preparation of business plans and projections for your business are vitally important when sourcing finance. We have significant experience in working with clients in the drafting of business plans to be used to source finance both commercial and private. The following is a draft of a suggested structure and considerations for a competent business plan:

• Introduction to Your Business Plan; who are the promoters & what is their previous experience;
• Executive Summary; what is the proposal, who are the personnel, when is the proposal launch timed for, what finance does the proposal require;
• The Management of the Business; who will be the directors/owners, staffing requirements, Payment of personnel, skills and experience of personnel;
• Business Details; describe your product or service, what differentiates from competitors, pricing structure
• Marketing; details of any market research for the business, target markets, analysis of the competition, how it will be promoted on the market, considered the use of patents etc.
• Customers & Suppliers; who will be your main customers/suppliers, the trade terms, reliability of Suppliers, internet business, quality considerations;
• Advisors, Finance & Loans; who are the advisors, what is your capacity to raise finance, who are the potential investors in the business, what assets/activities will the finance be used for, business bankers, analysis of costs, calculation of break even, details of any grant aid, taxation structure and considerations, professional and Industry Standards, insurance requirements;
• Conclusions; business strengths and weaknesses, business opportunities and threats, what contingencies have been provided for, put forward the case for investment;
• Appendices; list of main assumptions, financials and cash flow projections, capital expenditure projections, staffing projections, management structure, schedule of finance.

It is our belief that the setting up and maintaining of a good accounting system is the starting point for any successful business. Our firm place great importance on deciding on a suitable accounting

system that meets the needs of both our clients own requirements and will produce accurate information for management and tax compliance purposes. Our firm would typically assist our clients with the following:

As part of the company formation process, we’ll provide you with the following documentation:

• Understand the basics of bookkeeping;
• Maintain financial records suitable for your Business needs and requirements;
• Set up and operate a computerised
• Accounting Systems such as TAS, Sage or Thesaurus;
• Administer and reconcile Accounts Payable and Receivable;
• Prepare and complete Bank Reconciliations;
• Registering For Revenue Online Services;
• Prepare VAT returns.

Accounting software is computer software that records and processes accounting transactions within various functional modules such as Purchases, Sales, payments and receipts. It functions as an accounting information system. It would usually be purchased from a third party such as Sage, and can vary greatly in its complexity and cost. As we have a detailed and comprehensive knowledge of all the main accounting software providers, we are well placed to advise clients of the software package that we feel is best suited to their business.

We offer a free tax registration service and can assist you with other statutory business requirements whether you are setting up as a Sole Trader, Partnership or Limited Company at no cost for all new clients and prospective clients.

In order to set up as a sole trader or a partnership, you must register as self-employed for income tax with the Revenue Commissioners. To do this, you must complete the tax registration form TR1. This form can be also be used for VAT registration should your business need to be registered. We will complete this form with you and advice you on all areas of these taxes and their implications for you and your business

You may also like to register a trading name for your new business. We will guide you as to suitable names and complete the paperwork to be filed with the Companies Registration Office in order to have a name registered.

If you are operating as a limited company then as soon as the company is incorporated you are required to use form TR2 to register for taxes with your local Revenue office. It can take a number of weeks for the company to be registered for taxes.

Depending on the nature of your business, you may also have to register as an employer if you intend to employ staff, and for other taxes such as Relevant Contracts Tax. Again, we will gladly advise and assist all new clients free of charge on these areas.

We will assist in completing and submitting all the required tax registration paper work to your local tax office.