How to Start a small business in Ireland?

First Step of starting a new business.

1. Register your Business Name or company with CRO. www.CRO.ie.

You have two choices you either operate as a sole trader or a company limited by Shares. If you operate as a sole trader, your business is identified by your PPS Number. (More info how to apply and get PPS number is https://www.welfare.ie/en/Pages/Personal-Public-Service-Number-How-to-Apply.aspx

Other option is to become a director in a company limited by shares. You can set up your company by registering with CRO.

2. Open a bank account.

There 4 Main banks on the main street
AIB (www.aib.ie)
Bank of Ireland (www.boi.ie)
Permanent TSB (www.ptsb.ie)
Ulster Bank (www.ulsterbank.ie
which opens start up business account. Their requirement is to have business registered with CRO.

3. Write a business plan.

Write yourself or Get help from professionals to craft a business plan. Irish business plan helps in this area.

4. Work on your business idea.

Talk to people in your industry and test your product or services desirability.

5. Consider buying a business.

Why? Starting a business from scratch needs lot of effort and time to have the name established. Whereas buying business from some one already running would save you time and effort. Some times buying a business could be costly. You can evaluate it by checking their financials and see what returns it offers.

6. Get your Book Keeping right

Unless you are starting an accountancy business hire some one an accountant.