Employment - Setting Up Your Own Business
There are many incentives for people to set up their own business. We have have included links below to organisations which can assist a person set up their own business. There are several aspects to setting up a business and making it a success
- Identifying a market for the product / service. Who they are, where they are, their purchasing power, the availability of credit for customers, the potential for growth in the short, medium term and long-term, how you plan to make contact with customers, etc.
- Financing. Investment required. Investors, banks, venture capitalists, shareholders, etc. The different types of loans and equity financing. The cashflow for each week, month, quarter.
- Mentors with detailed knowledge and long experience of running businesses
- Marketing online and offline, e-commerce, salesperson skills, customer relationship management, customer loyalty, managing employees and project teams, increasing value added every week, month, quarter, year, doing tax, payroll and accounting, innovating product / service / operations, etc.
Many different areas of expertise are required to successfully run a business. The following bodies can provide useful advice and support for those people wishing to start up a business.
- Companies Registration Office
- Galway County and City Enterprise Board
.- Government financial incentives - Back to Work Enterprise Allowance
- Irish Venture Capital Association
- The main Irish banks such as Bank of Ireland, AIB, Permanent TSB, Ulster Bank, NIB have special sections for assisting people start up their own businesses.