How to Start a Successful Business
Starting a business can be a pretty daunting and challenging experience whilst at the same time a most rewarding one if it’s done right. Discipline, rigor, and hard work are most definitely required. There are ways of greatly increasing your chances of success, some of which I will touch on in this article.
Firstly, make sure you have the full support of your nearest and dearest. Decide how you intend to manage your personal commitments and put the necessary arrangements in place.
You need to complete a business plan. Look at different types
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SME funding available from the National Pension Reserve Fund
National Pension Reserve Fund (NPRF) announces details of funding for SME’s of three new long-term funds which will provide equity, credit and restructuring / recovery investment for Irish small and medium-sized businesses (SMEs) and mid-sized corporates. These funds were referenced by the Minister for Finance in his Budget 2013 speech. SME business experts O’KellySutton are already in discussions with the fund operators on behalf of SME’s. O’KellySutton will represent SME’s in dealing with the fund operators on drawing down funding.
The NPRF has played a significant role in the development of the three funds and will be a cornerstone investor in each
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Pension Payments for Company Directors
Company Directors with 31 December company year ends you should be looking at 2011 draft figures for the year and taking whatever actions are necessary from a tax planning and financial management point of view. For example those wishing to make additional pension payments for the year must do so before 31 December. Pension payments cannot be accrued after year end. Remember stocks takes must be carried out on 31 December which is Monday this year.
For sole traders there may be a benefit to moving year ends away from 31 December year ends in order to give more flexibility for effective tax planning. This is something sole traders with 31 December year ends should explore.
For more information contact Pat Sutton, Managing Partner, O’KellySutton, Sutton@okellysutton.ie, 086 2523637
Patrick Sutton appointed a director of Sensational Kids Charity
Patrick Sutton partner in O’KellySutton Chartered Accountants, and Business Advisors has been appointed as a director to Kildare based Charity Sensational Kids. Pat an experienced financial business advisor
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Budget 2013 – Ten point plan could spur on small businesses
An article by Patrick Sutton, Partner of Okellysutton in the Sunday Business Post on the 9th December, 2012,
In his Budget, Minister Noonan announced a ten point tax reform plan to help small businesses. Of particular interest in the ten point plan are the following elements:
