1. Business Advice Briefing
First Stop Shop
Local Enterprise Office Dublin City
The Innovative City

2. O V E R V I E W
Setting up the business
Sole Trader, Partnership
or Limited Company
3. Business Plan & Funding
4. MFI and other sources finance
5. Dept. of Social Protection
6. Supports for Business
Training for owner managers
Mentoring

3. 1. Setting up the business
DECIDE ON BUSINESS STRUCTURE
SOLE TRADER or PARTNERSHIP or LIMITED COMPANY

4. 2. Sole trader / Partnership / Limited Company
Most appropriate route when setting up
No audit required
Taxed as individual make returns as self employed can deduct expenses from profits
Easy to wind up and turn business into limited company at later date
But
Liable for losses of the business
Creditors entitled to personal possessions
How ?
Register with Companies registration office cro.ie

5. Obligations of a sole trader
Legally obliged to register the name IF
trading name is not carried on under his/her own name.
Legally obliged to register as a Sole Trader for tax purposes with the Revenue Commissioners
Obligated to maintain proper bookkeeping and accounts records.
Must register for VAT where annual sales turnover exceeds €37,500 in the supply of services and €75,000 in the supply of goods.
Must Register as an employer if employees are hired and operate a payroll for such employees.
Sole trader operating business with full and total personal liability and responsibility for any an all outstanding debts of the business

6. Partnership It can exist as a limited
“Whenever two or more people carry on any form of business together with a view to profit without incorporating as a limited company they form a partnership
It can exist as a limited
partnership
With separate legal entity
or general partnership
Which is unlimited
Partnership is legally obliged to register the business name if
it varies from partners names
Advised to have a Partnership agreement drafted between the parties to the partnership setting out each partners responsibilities, duties, profit divisions etc. 　

7. Limited Company
Business is seen as separate legal entity from the people who run it
Ltd means your liability to pay the company’s debts is limited
Ltd co. must have more than 2 directors & company secretary
Must be registered with Companies registration office

8. Limited companies qualify for 12.5 % corporation tax
Need to submit the following along with the registration fee, to the companies registration office:
Memorandum of Association
Articles of Association
Form A 1
To set up company download the forms above from the companies registration office website at CRO.ie.

9. 3. Funding What will it cost to start a business? Start up costs
Overheads
Licences
Rent/Rates
Salaries/Wages
What will you charge?
Price
Fees

10. 3. Business Plan

11. 3. Business Plan – Route Map
Template
Executive Summary
Introduction
Market
Market Strategy
Organisation & Management
Production & Operations
Costings & Finance
Financial Statements

12. 3. LEO - Funding supports
LEO Dublin City
Financial support for microenterprises with:
1 – 10 employees that are Dublin City Council area based not getting financial support anywhere else
Must be Manufacturing or International traded services or Services with overseas customers (not retail, trade or professional service)
Types of grants: All grants cover 50 % of 3rd party costs excluding Vat based on 100% proof of payment
Feasibility for product development or market research
Goes to 50 % 3rd party costs of patent, prototype or
Consultancy, market research
Innovation Voucher from Enterprise Ireland for Ltd companies might be an alternative
Business Expansion

13. LEO FINANCIAL SUPPORTS
Priming Grant
for businesses < 18 months
Must include 1 new F.T. job
Eligible costs Salary €10k
3rd party consultancy
Capital Items
Business Expansion Grant
> 18 months
Must include 1new F.T. job
Eligible Costs
Salary
Capital Consultancy
Need 3 quotes for each item
Export
Grant
For exhibiting overseas trade fairs, travel, accommodation & for marketing material
Max. €3,500
50% costs
Online trading voucher
For est. businesses trading over 12 months
To promote online sales
Max €2,500

14. Application Process
Identify what type of grant & eligible business expenses you are applying for and get 3 quotes for each item, identify possible candidates for the new job(s) You will need to have the finance to pay for the items above since the grant covers 50% excluding VAT based on the proof of the 100% payment. No retrospective payments Submit; Application Form, C.V., Feasibility proposal and quotes Submit; Application Form, C.V., Business Plans (LEO Framework) and quotes for Priming & Business Development Grant 12 month projected cash flow, 3 year projected Profit & Loss A/c, plus most recent Management Accounts (Audited A/cs for larger loans)

15. 4. Microfinance Ireland
Set up by the Government to provide loans up to €25k to newly established or growing microenterprises, with commercially viable proposals that do not meet the conventional risk criteria applied by commercial banks
MFI is ‘additional’ lending which would not otherwise be provided by banks. Co funded loans with banks also available
Loans to top up bank credit may be available where it is clear that the business would not go ahead without MFI
Eligibility
<than 10 staff
Turnover / or balance sheet less than 2m
May be a start up OR an existing business

16. MFI Loan Assessment based on
Adverse credit history / absence of credit history will not preclude a loan provided there if full disclosure and evidence that debts have been dealt with honourably
A realistic business plan including cash flow projections
Proven business models with prospect of near term cash flow
The number of new jobs and social impact taken into account
An interview (may be by phone) to assess skills, character, viability of the plan and commitment to the business

17. How to apply for a Microfinance Loan
LEOs (Local Enterprise Offices)
D I R E C T
Send completed applications with supporting documentation direct by post to
Microfinance Ireland
Jefferson House
Eglinton Road
Donnybrook
Dublin 4.
To avail of the 1% discount on interest rate or
to get assistance with the application process
Drop in to Dublin City LOCAL ENTERPRISE OFFICE

18. Other Sources of Finance
Working Capital, Long term finance
Sources of Funds
Yourself
Family & Friends
Grants/Loans
Banks/Credit Unions/VCs
Investment
Crowdfunding – Grid Finance, Linked Finance, Fund It
Business Angels

19. CREDIT REVIEW OFFICE www.creditreview.ie
To help SME borrowers who have had an application for credit of up to €3m declined or reduced, and who feel that they have a viable business proposition. Where borrowers feel that the terms and conditions of their existing loan, or a new loan offer, are unfairly onerous or have been unreasonably changed to their detriment. This is a strictly confidential process between business, the Credit Review Office and bank. On reviewing application, the Credit Review Office will provide the bank with an opinion on whether it agrees with the lending decision or not. Bank responds to this opinion and confirms next steps in response to the recommendations set out by the Credit Review Office. ttingbacktowork.ie

20. 5. DEPARTMENT OF SOCIAL PROTECTION
Back to work enterprise allowance
When setting up a business you can keep % of social welfare allowance for up to 2 years
Short-Term Enterprise Allowance (STEA) gives support to people who have lost their job and want to start their own business.
To qualify you must be getting Jobseeker’s Benefit.
No qualifying period.
Will not qualify if you are getting Jobseeker’s Benefit and working part-time
Enterprise Support Grant if approved for above financial support for costs of setting up business max 950 over 9 month period
Apply with social welfare local office.
More information on

21. Jobsplus www.jobsplus.ie
Incentive from the Department of Social Protection to encourage
& reward employers who offer employment opportunities to the
long term unemployed. Grants of €7,500 and €10,000 available. 
Value set at two levels biased in favour of the more long term unemployed -
recruits unemployed for more than 12 months but less than 24 months: €7,500
recruits unemployed for more than 24 months: €10,000
Payable monthly in arrears, over a two year period – while employee retained.
Jobs must be ‘full-time’ at least 30 hours p/w spanning at least four days p/w
Employers must be compliant with Irish tax and employment laws
Recruits must have been unemployed for a period of at least 12 continuous months

22. Jobbridge www.jobbridge.ie
Internships for 6/9 months duration Keep those on the live register at all skill levels close to the Labour Market Provide an opportunity to gain quality work experience Give employers opportunity to assess potential employees €50 top-up internship allowance and customer maintains their current SW entitlement Paid by Department of Social Protection by EFT to Interns

23. A G E N C I E S

24. Agencies ctd.
1. Bord Bia Irish Food Board. Dedicated website for start ups in food productionwww.bordbiavantage.ie
Food Academy
Food Academy initiative from LEOs, Bord Bia & SuperValu to provide integrated supports and training to start up and existing food companies
Bord Bia Market Information Department: a library of research and leading-edge marketing literature which is available to all food businesses
2. Failte Ireland :National Tourism Development Authority of Ireland
Supports tourism enterprises in 4 ways
Tourism Marketing
Training Services
Product Development
Market Research
ttingbacktowork.ie

25. Agencies
3. Arts Council National agency for funding , promoting and developing the arts in Ireland 4.Irish Film Board Development agency of the Irish industry 5. Enterprise Ireland r Responsible for supporting Irish businesses in the manufacturing and internationally traded service sectors. Over 10 employees 6. New Frontiers Docklands Innovation Centre 7. National Digital Research Centre – for digital start ups

26. Enterprise Ireland work with…
Entrepreneurs starting companies with an ability to compete in world markets
Ambitious co’s with the ability to scale & achieve significant success
Manufacturing & Internationally Traded services companies
employing ten or more
Irish-based
food and natural resource companies that are overseas owned or controlled
High Potential Start-up’s
Scaling
Established SME’s
Multinationals
Potential Exporters
Established SME’s currently focussed on the domestic market who have the ambition to export
Developing links with Irish enterprise, MNCs to support research collaboration, commercialisation of publicly funded research, and access to FP7, ESA
Research Community

27. Patents, Trademarks & Copyright www.patentsoffice.ie
Patents Contract between society & inventor
New useful & not obvious
Trademark
Distinctive sign to id products and services of a business
Copyright exclusive right given to creators of artistic or literary works
Patent can cover Ireland , EU , Single Country or international.
Annual renewal fees must be paid
Application Fee 70 Renewal fee 250
1 application covers 28 countries
Lasts for lifetime & 70 years Copyright takes effect as soon as the work is put on paper, film, or other fixed medium

28. 6. Supports for Start ups : Networks
Networking puts you in contact with like minded people can help in helping you solve the day-to-day problems of business Within networks, there are shared experiences and opportunities to develop your business, make sales or find new suppliers. In LEO Dublin City: Business Network for Start Ups (part of Start up LEO package) Dublin City Enterprise Network for Women LEO Dublin City Business Network Dublin Food Chain an initiative between the four Dublin LEOs, all types of food producers, hospitality Other networks PLATO Dublin employees Dublin Chamber Food Academy:

29. Supports for start ups: Incubation Centres
Incubation centres offer start up business the chance to avail of small units at affordable rates, with access to shared knowledge, resources and equipment. Give Flexible rental agreements -no long leases ; Networking opportunities; Access to business consultancy and mentoring support; Guinness Enterprise Centre Spade Enterprise Centre Docklands Innovation Park Terenure Enterprise Centre Digital Hub Development Agency Ballymun Enterprise Centre Liffey Trust Full list on ttingbacktowork.ie

30. 7. Training Supports LEO Training
Ideas Generation Workshop – explore if idea is feasible
Start Your Own Business (training, network & mentoring)
Helps to get your business started and develop a Business Plan
Upskill Workshops; Social media, Taxation , Marketing , Book keeping
Management Development – Accelerate & Hi Start
Skillnets
Subsidised training for employees
Management Works
Solas  Further Education and Training Authority

31. 8. Mentoring
LEO Mentoring One hour one-to-one session €20 6 hours one-to-one Mentor programme €100 Starts with an extra one hour business needs analysis

32. Q & A Twitter @LEODublinCity
Facebook: Local Enterprise Office Dublin City
Web:
Q & A