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7 ways for Irish SMEs to raise funds -without banksThe Sunday Business Post

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The Sunday Business Post offers 7 options for raising capital without the help of a bank manager.

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Doing business in Ireland
Doing business in Ireland - news from Celtar business consultants, business advisers Dublin and Ireland, curated by Billy Linehan
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» The One Hour Business Plan – practical planning for your business, from Thoughts and ideas on growing a business

» The One Hour Business Plan – practical planning for your business, from Thoughts and ideas on growing a business | Doing business in Ireland | Scoop.it

Writing a business plan can be painful: I don’t know anybody who likes writing their business plan, it is a task most people avoid till the last moment. The One Hour approach limits this pain, takes away the stress and gives you a worthwhile outcome.

 

Our Experience: There are a lot of benefits in writing a short business plan using the One Hour Business Plan model, and then expanding on it later. Achieving a quality result in a short time is great for those who have huffed and puffed about starting to write a plan, and find it a daunting prospect.

 

Business plan content should always be challenged and assumptions cast aside. So it  is beneficial to invite a friendly business adviser with an external perspective to participate in the planning with you. 

 

 Steps to create a one hour business plan:

Prepare by thinking about answers to the questionsGrab a whiteboard / flipchart / large piece of paperAsk an independent business adviser to work with you, and facilitate the exerciseStart writing!

CELTAR Adviser's insight:

Click heading above for full content of plan.

 

Special offer for Scoopit readers, just ask?

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Dublin-London is now second 
busiest air route in the world - Independent.ie

Dublin-London is now second 
busiest air route in the world - Independent.ie | Doing business in Ireland | Scoop.it
THE Dublin-London air route is the second busiest international corridor in the world as 3.6 million passengers jetted between the capital cities last year.
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Pricing experiments you might not know, but can learn from - conversionaXL.com

Pricing experiments you might not know, but can learn from - conversionaXL.com | Doing business in Ireland | Scoop.it
Lots of entrepreneurs struggle with pricing. How much to charge? It's clear that the right price can make all the difference - too low and you lose profits..
CELTAR Adviser's insight:

Very useful review of pricing strategies.

My favourite blog on pricing is the US based Wiglaf Journal, see www.WiglafJournal.com  

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The tech business week: Microsoft to build huge Dublin HQ, Eircom shifts ... - Siliconrepublic.com

The tech business week: Microsoft to build huge Dublin HQ, Eircom shifts ... - Siliconrepublic.com | Doing business in Ireland | Scoop.it
Siliconrepublic.com The tech business week: Microsoft to build huge Dublin HQ, Eircom shifts ...
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How Apps could improve the Business performance for your SME

How Apps could improve the Business performance for your SME | Doing business in Ireland | Scoop.it
Tech experts and entrepreneurs tell Sabuhi Gard about the mobile apps that can help to streamline your business

Via TechinBiz
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Figures show highest number of Irish start-ups in July since pre-recession

Figures show highest number of Irish start-ups in July since pre-recession | Doing business in Ireland | Scoop.it
The number of start-up companies in Ireland reached its highest level in July since before the recession in 2007, new figures from credit and business risk analysis company Vision-net.ie suggest.
CELTAR Adviser's insight:

With all the focus on tech startups in Ireland, I wonder how many of these  are tech and non-tech?

Defining a tech business now is difficult as all businesses are tech enabled to some extent

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West Cork Garlic - Ireland's only specialist garlic grower

West Cork Garlic - Ireland's only specialist garlic grower | Doing business in Ireland | Scoop.it
Welcome to West Cork Garlic!

West Cork Garlic - your source of the widest variety of fresh and dried garlic - all carefully grown in West Cork, Ireland

 

Since the start of the business in 2011, West Cork Garlic has been grown on land near Ballynacarriga, Enniskeane which has proven to produce great tasting garlic. This is the combination of the rich fertile soil near to the Bandon river along with planting premium quality Irish grown seed as well as reputable imported seed.

After the success of selling through local Farmers/Country Markets, supermarkets and wholefood shops the name “The Garlic People!” was soon an adopted title ! 

CELTAR Adviser's insight:

Like this website, I do.

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Dogs in the street know that if the banks were lending there would be less need for funding from more diverse sources.

Dogs in the street know that if the banks were lending  there would be less  need for funding from more diverse sources. | Doing business in Ireland | Scoop.it

A greater diversity of funding sources is required for credit-starved small and medium enterprises, according to a new report.

 

The ‘Access to Finance for SMEs’ report, compiled by the Joint Oireachtas Committee on Jobs, Enterprise and Innovation, found an over-reliance on the banking sector as a source of finance for Irish SMEs and recommended the development of non-banking sector funding initiatives to fund growth in the sector.

CELTAR Adviser's insight:

Dogs in the street

 

1. The dogs in the street know that if the banks were lending  there would be less  need for funding from more diverse sources.


2. Crowd funding of any type should be regulated (it is not currently regulated so there is no protection for investors)


3. MicroFinance Ireland is not as successful as planned, and has a relaxed view on credit application refusals already.



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Ireland is Outpacing US on Commercial Drones - Drone Definition

Ireland is Outpacing US on Commercial Drones - Drone Definition | Doing business in Ireland | Scoop.it
Ireland is moving faster than the United States on allowing drones to be used for commercial purposes.
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Why Most Startups Fail

Building a better mousetrap is a waste of time if nobody knows it exists.

 

Why do some startups succeed while similar startups with similar products languish and die? The difference is in the quality of their sales and marketing, according to Gerhard Gschwandtner, publisher of Selling Power magazine.

 

He observes that many entrepreneurs--especially those with an engineering background--lack much understanding of the basic skills required to bring a product to successfully to market.

 

For example, one of the biggest challenges that startups encounter is how to become visible to potential customers. What's needed are crisp, short sales messages that can break through the noise. All too often, though, startups have messages like this:

 

We are a cloud-based intelligent sales automation software company whose products are designed to automatically prioritize sales leads thereby empowering sales representatives to reach their true potential and avoid the many pitfalls associated with multitasking.

(Translation: "Our software reveals which sales leads are most likely to buy.")

 

Another challenge startups face is hiring salespeople who have the background and experience to sell their product. Instead, they tend to hire whoever comes along, put him or her on straight commission and see if he or she will sink or swim. "While entrepreneurs often expend vast efforts to recruit and retain the best engineers, they seldom put much thought or energy into hiring the best salespeople," says Gschwandtner.

 

As an example of the importance of sales and marketing, he cites Salesforce.com: "When they launched, there were already two 'cloud-based' CRM solutions available. Salesforce won because [CEO] Benioff marketed the benefits of moving your sales data online, while his competitors were marketing features and functions." Benioff also did an "excellent job" of building a sales team that could articulate that benefit to potential customers.

 

Why do so many entrepreneurs stumble when it comes to sales and marketing? In their heart of hearts, they simply don't feel that sales and marketing are all that important. Despite all evidence to the contrary, they believe the myth that, "If you build a better mousetrap, the world will beat a path to your door."

 

If entrepreneurs truly want to succeed, they should be spending more time on sales and marketing and correspondingly less on product development. After all, what's the use of having a terrific product if nobody knows about it or can figure out how to buy it?

Like this post?  Sign up for my free weekly newsletter.

 

 

 

GEOFFREY JAMES | Columnist

Geoffrey James 

Read more: http://www.inc.com/geoffrey-james/why-most-start-ups-fail.html#ixzz37eLFvMKY

CELTAR Adviser's insight:

What's the use of having a terrific product if nobody knows about it or can figure out how to buy it?

 

Exactly!

 

Billy Linehan

Business advice Dublin Ireland

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Why Ireland is becoming a major destination for European startup founders - The Next Web

Why Ireland is becoming a major destination for European startup founders - The Next Web | Doing business in Ireland | Scoop.it
Why Ireland is becoming a major destination for European startup founders The Next Web “I don't think there's any difference between being a foreigner or being Irish in terms of starting a company here and getting the support to do so,” says Alex...
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Irish indigenous tradeable exports at 9% of total headline exports in 2013

Irish indigenous tradeable exports at 9% of total headline exports in 2013 | Doing business in Ireland | Scoop.it

Irish indigenous tradeable exports at 9% of total headline exports in 2013
By Michael Hennigan, Finfacts founder and editor

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Europe Entrepreneurship: Micro firms up 370,000 in 2008-2013; No growth in other firm numbers

Europe Entrepreneurship: Micro firms up 370,000 in 2008-2013; No growth in other firm numbers | Doing business in Ireland | Scoop.it
Europe Entrepreneurship: Micro firms up 370,000 in 2008-2013; No growth in other firm numbers
By Michael Hennigan, Finfacts founder and editor
Jun 27, 2014 - 4:13 AM

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Europe Entrepreneurship: While the number of micro companies (less than 10 employees) in the European Union increased by 370,000 (2%) between  2008 and 2013, the number of small, medium and large companies registered no net growth, showing that SMEs face difficulties in scaling up and making a significant difference to growth and employment across Europe according to a new report.

Politicians in Ireland and elsewhere like to present the growth in micro firms which may have no employees as evidence of growing entrepreneurship when it is more likely a reflection of poor job prospects.

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Tennis4Kids, bringing the fun of tennis to primary school children in Dublin

Tennis4Kids, bringing the fun of tennis to primary school children in Dublin | Doing business in Ireland | Scoop.it

Tennis4kids® is an inspiring mini tennis programme for children aged between 5 and 12. Easy and fun for young children. Tennis classes in Dublin, Louth and Meath.

 

Schools programmes & after-schools programmes available

 

Enquiries from elsewhere in Leinster are welcome.

Contact

info@tennis4kids.ie

telephone  +353 1 8334 335

www.tennis4kids.ie

 

CELTAR Adviser's insight:

Tennis 4kids is an inspiring mini tennis programme for children aged between 5 and 12. It’s been specially designed by former Irish international tennis player and professional coach Annette Smith to bring quality tennis to children of all abilities, through primary school tennis programmes, after school clubs and tennis camps.

 

Tennis4kids is the ideal introduction to sport where every child experiences success at their own level and it’s great fun.

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Fitch upgrades Irish credit rating to A-

Fitch upgrades Irish credit rating to A- | Doing business in Ireland | Scoop.it
Agency cites improved trends in the economy

Rating agency Fitch has restored an A- ratings agency to Irish sovereign debt, citing an improved trend in the economy.

In a significant pre-Budget boost to the Government, the agency this evening raised Ireland’s credit rating by one notch to an A- from BBB+. Fitch said the Republic had retained “many of its structural strengths” throughout the economic crisis.

“It is a wealthy, flexible economy,” Fitch said, also noting that “vulnerabilities” in the banking sector had declined.

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Innovation Vouchers - Enterprise Ireland

Innovation Vouchers worth €5,000 are available to assist a company or companies to explore a business opportunity or problem with a registered knowledge provider.
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Diane Mulcahy of the Kauffman Foundation- the six myths of Venture Capital

Diane Mulcahy of the Kauffman Foundation-  the six myths of Venture Capital | Doing business in Ireland | Scoop.it

:Venture capital is exception as funding source for tech startups


Myth 1: Venture Capital is the Primary Source of Startup Funding
VC financing is the exception, not the norm, for startups. Historically, less than 1 percent of U.S. companies have raised capital from VCs, and the VC industry is contracting. But less venture capital does not mean less startup capital since non-VC sources of funding, such as angel funding.



CELTAR Adviser's insight:

The Six Myths of Venture Capital as described by Diane Mulcahy of the Kauffman Foundation.

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Battle for competitiveness being lost - Isme - Small Business - Small ...

Battle for competitiveness being lost - Isme - Small Business - Small ... | Doing business in Ireland | Scoop.it
The July inflation figure was -0.2pc, with annual inflation at 0.3pc, according to the latest CSO figures, however Isme said this does not accurately show the steadily increasing business costs being borne by SMEs, as they are masked in the overall...
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Free Companies House data to boost UK economy - available to Irish Co's too?

Free Companies House data to boost UK economy - available to Irish Co's too? | Doing business in Ireland | Scoop.it

UK's Companies House is to make all of its digital data available free of charge by June 2015.

 

Companies House is to make all of its digital data available free of charge. This will make the UK the first country to establish a truly open register of business information.

 

As a result, it will be easier for businesses and members of the public to research and scrutinise the activities and ownership of companies and connected individuals. Last year (2013/14), customers searching the Companies House website spent £8.7 million accessing company information on the register.

 

This is a considerable step forward in improving corporate transparency; a key strand of the G8 declaration at the Lough Erne summit in 2013.

 

It will also open up opportunities for entrepreneurs to come up with innovative ways of using the information.

This change will come into effect from the second quarter of 2015 (April – June) 

 

 

CELTAR Adviser's insight:

Great idea for CRO to follow

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HairWeavon Men's Hair Replacement Studio Dublin

HairWeavon Men's Hair Replacement Studio Dublin | Doing business in Ireland | Scoop.it
HairWeavon provides non surgical hair replacement solution for men with male pattern baldness or...

http://www.hairweavon.com/hair-replacement-ireland.html

 

 

 

 

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Bono Geldof-Led Debt Relief No Cure as Ghana, Zambia Consider IMF Aid

Bono Geldof-Led Debt Relief No Cure as Ghana, Zambia Consider IMF Aid | Doing business in Ireland | Scoop.it
Less than a decade after Ghana and Zambia had most of their debt written off, the two nations are struggling to finance their budgets and are under pressure to seek emergency loans from the International Monetary Fund.
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‘I loved what I did. Everything you see in the world my industry built’

‘I loved what I did. Everything you see in the world my industry built’ | Doing business in Ireland | Scoop.it
Developer Joe Tiernan is proud of what he achieved but happy he had just enough sense to avoid getting carried away
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Enterprise Ireland admits to losing €9m on investment - Independent.ie

Enterprise Ireland admits to losing €9m on investment - Independent.ie | Doing business in Ireland | Scoop.it
ENTERPRISE Ireland lost €9m through its investment in Dublin-based TVC Holdings, it has emerged.
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Enterprise Ireland doesn't know how many active client firms it supports

Enterprise Ireland doesn't know how many active client firms it supports | Doing business in Ireland | Scoop.it

Enterprise Ireland, the state agency "responsible for the development and growth of Irish enterprises in world markets" doesn't know how many active client firms it supports.


Sometime past I had a look through annual reports and other publications and on Tuesday I called the press office for the information as it would be a proxy for data on exporters, and later an email suggested that I should contact the Central Statistics Office (CSO) - - a link to a CSO report did not help.

The specific data I was seeking was on the number of active Irish indigenous exporting firms and what prompted my query was an AIB Bank 'Exports Outlook Report' [pdf], that coincided with its announcement a €200m SME Export Finance Fund.    

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Tweet from @IrishAfricanKid

Tweet from @IrishAfricanKid | Doing business in Ireland | Scoop.it
just made my video pitch for enterprise Ireland competition, lets drive the Irish economy #startup #entrepreneur pic.twitter.com/knoeSKBBxb
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