Author Archives: Brendanlawlor

Key Steps in Starting a Business

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The Irish economy is performing very well with strong growth in the past few years. There are many government supports in place to assist start up companies, in particular companies, which have the potential to grow quickly, and companies which plan to export.

Here are the key steps involved in taking your business idea from a dream to a reality, with sales and profits!

1) Ask yourself if you have the temperament and patience to be your own boss – setting up a successful business involves taking risks, working really hard and being lucky. It is not for everybody.

2) Find a business idea. This can be something you have thought about for a while or some recent gap you have spotted in the market. The internet has many resources, which can guide you in looking at various new business ideas

3) Do some market research. This will involve finding out about the market for your business idea, and will involve asking the following important questions

– who will be your customers ?

– who will be your competition ?

– how will you make or deliver your product or service ?

– how much can you charge your customers ?

– where will your business be located ?

– how will you market and sell to your customers ?

– what staff will you need ?

– what online resources will you need ? (Website, Social media etc)

4) Start to prepare a Business Plan- this will pull together all the research work you are doing, identifying any gaps and force you to explain you business in plain words.

Many entrepreneurs use the Business Model Canvas to develop a 1 page business plan summary.

Writing a good business plan can be difficult and you may need to get some help with preparing it. You will need it for any discussions with banks, investors or business partners.

5) Find the money needed to get started. Your business plan should have identified how much money the business needs to get started. If you don’t have this money you will have to try get funding from a bank or from outside investors

6) Identify and access sources of assistance for business start ups – the Local Enterprise Offices are the main source of assistance to start up companies.  (https://www.localenterprise.ie/ )They run regular ‘ Start Your Own Business’ courses and provide access to some grants which start up companies can apply for (The Trading Online Voucher scheme for example). Some of the banks in Ireland will also provide some business start up advice. ‘Stripe’ the online payments company also provide business start up tips to new online businesses

 

7) Get started – now it is time to implement your business plan, open your door and start selling to your customers !

If you are interested in starting a business in Ireland and you need some help or advice please get in contact brendan@innovation21.ie or fill the form


271,000 businesses in Ireland at end of 2017

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There were more than 271,000 businesses operating in Ireland in 2017, the highest number on record, according to figures released recently from the Central Statistics Office.

A few other interesting statistics :

  • this figure was up 8.5% on the 2016 figure of 250,033 companies
  • these companies employed around 1.55 million people
  • the services sector accounted for 51 % of these companies, the construction sector accounted for 21.1 %
  • construction had the biggest jump in people employed between 2013-2017 at 50%
  • services employment grew by 24.5% and industry by 21% in the same period
Small and Medium Enterprises accounted for 99.8% of the total of Irish businesses
It has never been a better time to set up a business in Ireland. Please get in contact if you want more information about setting up a business or growing your business.
Brendan Lawlor
Brendan Lawlor is a Business Consultant who specialises in helping start up companies, University spin outs and companies looking to grow through innovation and exporting.

Eastern European Market Research

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We have been doing some market research recently and have discovered a few interesting things .. every day is a school day as they say.. here are a few nuggets…

– there are around 80,000 people in Ireland who can speak Russian

– Some Moldovan citizens can avail of Romanian passports, allowing them access to the EU

– Linkedin is blocked in Russia

– Estonia is a hotbed of Fintech start up companies

– The Baltic States have a thriving and growing Life Sciences sector

– The Ukraine hopes to join the EU by 2030

– Many of the hundreds of businesses which have been set up in Ireland by Eastern European migrants to Ireland have language skills capability which will enable them to export into the future, with some support and encouragement

– The issues of business bureaucracy , language barrier and access to finance are key issues discouraging some entrepreneurial migrants setting up a business. Please get in touch if you need any further information or help

exporting  startups  eastwestbusiness


New Services

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We will be adding some interesting New Services soon- We will keep you posted


APC Ltd open a US Office

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Congratulations to APC who have announced the opening of new office space in Cambridge, Massachusetts as part of their ongoing global expansion. To coincide with this development, the company are organising a Complimentary Workshop titled ‘Particle Engineering, Crystallization and Process Scale-Up’ on March 7th in Kendall Square, Cambridge, MA.

Spaces are limited so for more information and to register your attendance, click here: https://lnkd.in/ep6Zzeu

Onwards and upwards for this great Irish success story !


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