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Business Start-Up Support In Ireland

Business Start-Up Services at TJ Briody & Co. Chartered Certified Accountants

Starting any business venture carries an element of risk.  There are a number of things to consider when starting up in business, such as:

  • A business plan

  • Choosing the best legal structure

  • Registering with the tax authorities

  • Finance

  • Keeping books and records

  • Tax Planning

  • Employing people

At Thomas J. Briody & Co. we are able to help you with this and more. If you would like to have a discussion about your new business please telephone us on 042 9357033.

Looking For Startup Grants? Here's An Overview Of the Programmes On Offer In Ireland.

Looking for funding? Do you have a business idea that you want to make a reality? Or are you an established SME with plans to grow?

Ireland is one of the top 10 ‘best countries to set up a business in’. Dublin ranks 8 out of 60 major hubs in the latest European Digital City Index.

With so many new business projects there has been a massive increase in the demand for startup grants and startup funding.

If you have a feasible business idea but need some help in getting started, read below to find out more about the funding programmes available.

Government/Public Startup Grants & Support

There are over 170 different Government supports for Irish startups and small businesses. This guide aims to help Irish startups and small businesses navigate the range of Government supports to identify the ones most relevant to you.

Local Enterprise Office

Your local Enterprise Office in Ireland can give you advice, information and support on your startup or growing business. Support from your local Enterprise Office includes:

  • Start-your-own-business training courses.

  • Market research information.

  • Business planning advice and templates.

  • Access to experienced business mentors.

  • Feasibility grants and co-investment for your plans.

Enterprise Ireland

Enterprise Ireland has a range of supports and grants that are available to startups and small businesses in Ireland. Their funding programmes are open to anyone including entrepreneurs with a business idea that have the potential for a startup to large companies that want to expand their business activities, improve efficiency and grow sales.

High Potential Start-up (HPSU)

Enterprise Ireland’s HPSU support and investment is aimed at startup businesses that are headquartered and controlled in Ireland. Your business should have the potential to become an innovative product or service for the international market and have the potential to create 10 jobs and €1m in export sales within 3 to 4 years of starting up.

Your nearest Enterprise Ireland office has a specialist startup team that can advise you on your application and give you support for moving your business forward.

New Frontiers

New Frontiers is concerned with progressing more early-stage ideas (0-6 Months) from a business concept to an investable business. It is by far the best way to get money if you are a startup in the early stages. Funded and managed by Enterprise Ireland, New Frontiers is a national programme. Currently, it’s based in 14 incubation centers across the country.

However, if you’re worried because you have already received Enterprise Ireland funding in the past two years don’t be. You can still participate in the programme but will not be eligible for the €15,000 startup grants.

For applicants to be successful, New Frontiers states that participants are selected based on:

  • Track record

  • Business experience or acumen

  • Capability – having the necessary management and technical skills. A suitable background that will enable the development of a business with sustainable competitive advantage

  • Credibility

  • Commitment, drive & determination

  • Quality of the business idea

Overall, startup grants aim to boost the growth of startups in Ireland. Thus, enabling your business to reach full potential.

InterTrade Ireland

InterTrade Ireland are a cross-border body, covering the Republic of Ireland and Northern Ireland, who offers a guide to become ‘investor ready’. Additionally, they specialise in early-stage startups and provide a range of services and advice.

Advice For The Application Process

If you plan on applying for any funding or support, it is common that they will ask you to submit in-depth details about your business. Whether that is in a video, written, poster or face-to-face interviews, here’s how we recommend you prepare:

  • Use facts and be specific. Back statements with relevant evidence of business activities, i.e statistics or examples.

  • Know your business model thoroughly. It will make explaining it an easier task.

  • Make relevant content such as product specifications, business plans and so on available to the judges. Consider including links to your website.

  • As soon as the application opens, you should begin producing your video pitch – it may take longer than you think.

  • Study the marking scheme. This can give you insight into how to divide your time.

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