Start Your Own Business FAQs

Start Your Own Business FAQ

Start Your Own Business FAQs

Longford LEO aims to help as many budding entrepreneurs get their business off the ground. Here are a selection of the questions we frequently asked, as well as links to further information if you need it. 

Where Can I Get Help With My Business Idea? 

Longford LEO is here to discuss your idea and as a First Stop Shop for anyone needing support on starting business in Ireland, we will give you all the information you need, or put you in the right direction of one of our partner organisations who can help. Click here to get our contact information.

How Do I Register My Business Name? 

Visit the Companies Registration Office (CRO) who are responsible for the incorporation of new companies and the registration of business names in the Republic of Ireland.

How Do I Decide My Business Structure? 

There are four main types of business structures: Sole Trader, Partnership, Limited Liability Company or a Co-operative.

To decide how to structure your business, you need to consider the following:
  • what type of business you are starting and what structure would work well with this
  • the expectations of those with whom you are going into business with (if there are others)
  • your attitude to risk (for example, Limited Liability Companies limits the risk of losing capital if your business fails)
  • how you wish to organise your tax affairs (for example, Limited Liability Companies are subject to more favourable tax rates)
  • practical matters in setting up your business
  • legal matters which relate to the different business structures and for which it is recommended you seek professional advice

How Do I Register My Business for Tax, including VAT? 

New businesses must notify the Revenue Commissioners through their Local Tax Office and provide Revenue with the information required to register the new business for the relevant taxes. Click here for the Revenue website where you will find further information.

New businesses also register for VAT (Value Added Tax) on the Revenue website. VAT must be registered for when a new business's annual projected turnover exceeds or is likely to exceed a specific threshold. Click here for up-to-date information on this threshold. 

Does My Business Need To Have Insurance?

It is advisable to have business insurance, with the main types of insurance available to businesses including Employers Liability Insurance, Product Liability Insurance, Fire, Burglary and Theft, Public Liability and Motor Insurance. For further information, contact a suitably qualified person for specific advice related to your business, as well as contacting the various insurance providers and shopping around for the best cover and price. 

Do I Need Planning Permission for My Business? 

Commercial or Business Planning Permission is required when operating a business. The use of a private residence for business is usually subject to planning permission and is known as Change of Use Planning Permission. In most cases, Local Authorities will not deny planning permission where there is no impact on neighbouring properties. Conditions for planning permission vary from case-to-case and you should contact the Planning Section of Longford County Council to discuss your situation further.

How Do I Register a Patent of My Product or Design?

Intellectual Property Office of Ireland is the national intellectual property agency in Ireland. Online applications can be made to register a patent, trademarks or design. 

How Do I Write A Business Plan And Do I Need One? 

Business plans are important should you wish to secure outside funding for your business, including any business loans from financial institutions. In short, business plans outline where you see your business going into the future (usually over between 3 to 5 years) and the steps on how to get there. Longford LEO have templates available to help you on your way to writing your own business plan. Click here to learn more and for these sample business plans.

Are There Any Practical Courses That Can Help Start My Business? 

Longford LEO run Start Your Own Business Courses throughout the year. Click here to see if there are any of these courses available now.

We also run other courses on the different aspects of business which would be helpful to start-ups, including courses on online marketing and websites, finances, remote working and management development, click here to see what courses are currently available.

You can also contact our offices should you wish to enquire as to what courses are in the pipeline but that we do not currently have on our website. Click here for our contact information.

Will Longford LEO Help Grow My Business into the Future? 

Longford LEO not only help start-ups, but also established business to scale-up and grow. Click here for further information on how we can help grow your business in the future.

Where Can I Get More Information on Starting My Own Business? 

Longford LEO has plenty of more information throughout our website for entrepreneurs and start-ups. Click here for starting your business information, click here for more info on the financial supports available to you, click here for all our training, mentoring and business networking on offer to you and click here for opportunities of enterprise development, including the National Enterprise Awards and the Ireland's Best Young Entrepreneur Programme. 

If you can any further questions contact us directly

 

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