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Great Business ideas are frequent but converting great ideas into successful businesses is a much more difficult. Most of us look at successful businesses and wonder how their simple idea hadn't been thought of before or we see businesses closing and wonder why those business ideas didn't take off.

Evaluating your business idea is a vital first step for any business and there are some important questions which will challenge your idea:

1. Is there a market for your idea?

 

Market research will allow you to determine the size of your market, the competitors in the market, the prices on offer and how the product or service is delivered to customers.

The announcement of the new Credit Guarantee Bill was warmly welcomed last week as it will provide much needed credit to an expected 1800 Irish businesses. The scheme will facilitate up to €150 million a year of additional lending to SMEs and will provide State guarantee for up to 75% to banks against losses on loans to firms with growth potential.

Industry experts and trade agencies are still questioning some aspects of the scheme including the issue that the duration of the Credit Guarantee Bill of 3 years may be too short of a loan time for many businesses. The scheme launch date is still unclear but it is thought to come into play at the end of the Summer.

What Business can and Cannot avail of the Credit Guarantee Scheme?

  1. Overdrafts, property related activities and agriculture are all excluded from the scheme.
  2. Food and drink sectors will be able to apply for the scheme.
  3. Business must be able to demonstrate that they have a good company record and have the ability to grow but just lack enough funding to reach their potential.
  4. In the case of start-ups, they will need to demonstrate the potential of the business to achieve sales should they be funded in order to receive funding under the scheme.
  5. To qualify, a firm must not employ more than 250 employees.

According to the business group ISME, small businesses are in danger of closing due to delayed and late payments from large firms and State agencies. ISME’s quarterly Credit Watch survey showed that the average payment period in Ireland for small and medium sized enterprises is 71days.

  • 40% of companies are waiting 3 months or more
  • 12% of companies are waiting over 120 days


The Credit Watch survey has shown that Ulster businesses are suffering most and are waiting 79 days while Dublin businesses are waiting 68 days. With regard to business sectors, construction firms are waiting on average 77 days to be paid while services are waiting 67 days.


Cashflow management is essential for the health of all businesses and it should never be ignored.

Bord Bia, Enterprise Ireland and Teagasc have teamed up to find and foster a new group of food entrepreneurs with a new initiative called Food Works. These three agencies are pooling their resources to support new enterprises to become successful food businesses with the aim of trading internationally.

How Food Works can help your business idea

1. Lend Practical Support by challenging your idea to ensure it is commercially viable.

Survival and failure of any business comes down to a huge number of reasons from financial restrictions right through to the viability of the business idea itself.

One reason that some businesses fail is that entrepreneurs and business owners think that they can be all things to all people. Many feel that no one else will carry out the work to the same standard and find it difficult to release control of the business in order for it to grow.

In a start up situation this is understandable and manageable as the needs of the business are limited but there are two main issues:

1. Holding on to control of all areas of the business restrict its growth as the business owner can be consumed by the business and they end up working “in” the business the entire time and forget to work “on” the business to develop it.

2.

Enterprise Ireland have launched a new programme called New Frontiers today. The programme aims to recruit entrepreneurs and deliver 100 new companies every year at a cost of €4.25million to implement. The New Frontiers Programme is part of the government's Action Plan for Jobs with the aim of stimulating new businesses and employment.

The national programme will be coordinated by Enterprise Ireland and will enable Institutes of Technology to deliver the programme at a local level with a six month intensive programme.

Microfinance for Start-ups

By John Kieran Monday, 9th January 2012 | 0 comments
Filed under: Amatino Partners, Business Start-up, Accounting.

First-Step Microfinance provides loans of up to €25,000 to start up or expanding new businesses. First-Step is an not for profit organisation which gives more people a chance to realise their dreams as entrepreneurs. Starting a new business can be even more difficult due to the lack of finance given out by the banks as a result of the recession.

Labour Market Activation
In addition to this, First-Step has received additional funds from the Labour Market Activation campaign.

Innovation Vouchers from Enterprise Ireland

By Patrick Cunningham Tuesday, 3rd January 2012 | 0 comments
Filed under: Business Advisory - Amatino Partners, Business Start-up.

The Innovative Vouchers scheme builds links between Ireland's public Knowledge Providers and small businesses. The scheme will be closing for applications on the 16th of January 2012 so all businesses interested in availing of the scheme should prepare their applications as a matter of urgency.

 

The programme's objective is to strengthen relationships between Ireland's education institutions and businesses to create a cultural shift in the small business community's approach to innovation.

Each Innovation Voucher is worth €5,000. The vouchers can be used for any kind of innovation such as:

  • new product/process development;
  • new business model development;
  • new service delivery and customer interface;
  • new service development;
  • tailored training in innovation management; and
  • innovation/technology audit.

All small enterprises that are registered companies in Ireland are eligible to apply. A small enterprise is defined as a company with fewer than 50 employees and with either an annual turnover and/or annual balance sheet total not exceeding €10 million.

The application deadline for individual companies is 16 January 2012.

Each year, the number of festivals are growing throughout the country. These events can help attract tourists to your local town or community and Fáilte Ireland is offering financial support to festival and event organisers hosting activities during 2012.

Failte Ireland's Festivals and Events Initiative aims to assistfestivals and participative events that attract significant numbers ofovernight visitors to the host locality, animate key destinations withinIreland, and provide quality visitor experiences of the country'sculture, heritage and landscape.

Financial assistance is available through two main programmes:

  • The National Festivals and Participative Events Programme supports events that attract international visitors to Ireland.
  • The Regional Festivals and Participative Events Programme supports events that drive domestic tourism and help to improve the visitor experience by animating key destinations in the country.

In awarding funding Fáilte Ireland will prioritise events thatdemonstrate a track record in bringing tourism benefits to a locality,attract overnight visitors to Fáilte Ireland-approved accommodation, andraise awareness or bring media coverage to attractions in the locality.


The deadline for the submission of applications for both programmes is 13 January 2012. For more information on this grant, click here.
The Small Firms Association recently surveyed their members with regard to tendering for goods and services to the Irish public sector, local government and state agencies. In the last 3 years, 65% of the 649 companies who responded to the survey have not tendered for any work with these sectors. In light of this lost opportunity for companies, the SFA Director, Patricia Callan has called on the government to over hall the public procurement procedures to make it easier for Irish businesses to win these valuable contracts.

Many Irish businesses who have taken part in tendering know that it can be a time consuming and confusing process but with the market worth €14bn especially for exporters.
The Health & Safety Authority have just launched a new assessment tool online called Taking Care of Business. This handy tool is targeted at small business owners with the aim on making them aware of the health and safety legislation which they must comply with.

Small businesses can log on and use the service for free. Simply, register and input the sector you operate in and follow the step by step process. This allows the tool to tailor the hazards and survey to your specific sector, for example a takeaway will have food safety hazards which an engineering business will not have.

This weekend, our Managing Partner, Barry Kieran will be featured in the Sunday Business Post newspaper for a feature in the Out on Your Own section of paper. The topic of the article is about Buying a Business and gives advice to those thinking of starting up a business or growing their existing business through acquiring an existing business.

Check out the article this Sunday and let us know what you think by leaving comments on our blog. If you are interested in more information on this topic or would like some advice on another business issue, contact Barry Kieran by emailing barry@amatino.ie or calling 047 84955.

Enterprise Ireland's aim is to increase Irish exports across the world. The success of Irish exports will greatly effect the recovery of the Irish economy and employment rates. Enterprise Ireland are supporting businesses by upskilling business owners to help them face the challenges of the exporting market and have developed a series of workshops to help.

The workshops are aimed at rapidly embedding the proven tools of best international selling practice into Irish companies across all industry sectors who are looking to upskill for export growth and who want access to selling skills development in a readily accessible and user-friendly format.

Enterprise Ireland are tapping into the experience of their team of international market advisers, past and present, and have developed the Excel at Export Selling Workshop Series to deliberately focus on the three fundamental building blocks of successful international selling:

  1. Developing a compelling Customer Value Proposition.
  2. Following a systematic repeatable Sales Process.
  3. Executing a well-defined Route-to-Market strategy.

These workshops are designed to equip Irish companies with the skills to truly make an impact on international markets and master the fundamentals of export selling. For more information on the workshops click here http://www.enterprise-ireland.com/en/Events/OurEvents/Excel-at-Export-Selling-Series-/

Marketing by Direct Mail

By Grainne Brady Thursday, 13th October 2011 | 0 comments
Filed under: Marketing, Amatino Partners, Business Start-up.

Marketing is all about communication and it is vital to stay as close to your customers as possible through regular communication. The age of social media has made communication even stronger as we can communicate through Linkedin, Facebook and Twitter within seconds. The old reliable traditional method of direct mail may seem out of date but its potential impact should not be overlooked.

For your direct marketing campaign to work, the most important thing is to make sure that customers don't mistake your communication with Junk Mail.

Tips for Direct Marketing


1.Your customer list is key to the success of your campaign and it is essential that it is up to date and accurate.

  • 7th of October

Mandatory Reporting - where applicable, quarterly return of client lists for period to 30th September 2011.

  • 14th of October

- P30 monthly return and payment for September 2011. (ROS extension to 23rd of October 2011)

- P30 quarterly return and payment for the calendar quarter ended 30th of September 2011. (ROS extension to 23rd of October 2011)

- RCT30 monthly return and payment for September 2011. (ROS extension to 23rd of October 2011).

- Professional Services Withholding Tax - F30 monthly return and payment for September 2011. (ROS extension to 23rd of October 2011.

- Companies - Divided Withholding Tax Return and payment of DWT for distributions in September 2011.

  • 21st of October

- Corporation Tax - return and final payment for accounting periods ended 31st of January 2011. (ROS extension to 23rd of October)

- Preliminary tax for accounting periods ending 30th of November 2011. (ROS extension to 23rd of October)

- First instalment of preliminary tax for 'large' companies for accounting periods ending 30th of April 2012. (ROS extension to 23rd of October).

  • 31st of October

- Form 46G - Return of Third Party Information - Form 46G for accounting periods ended 31st of January 2011.

- Income Tax - Return and payment of income tax for 2010. (ROS extension to 15th of November 2011.

- Income Tax - Preliminary Tax (inclusive of universal social charge) for tax year 2011. (ROS extension to 15th of November 2011.)

- Capital Gains Tax - Return for the tax year 2010. (ROS extension to 15th of November 2011.)

- Domicile Levy - Return and payment of €200,000 Domicile Levy for 2010.

If you have any queries on any of these deadlines, contact our Monaghan office on 047 84955 or our Cavan office on 0494371211. www.amatino.ie

Enterprise Ireland - International Markets Week

By Patrick Cunningham Thursday, 29th September 2011 | 0 comments
Filed under: Amatino Partners, Business Start-up.

Enterprise Ireland's International Markets Week 26th-29th of September, is the highlight of the year for many Irish companies thinking of entering a new market. The support and mentoring that Enterprise Ireland gives Irish export businesses runs throughout the year but during International Markets Week, over 100 EI advisers from offices all over the world come back to Ireland to work intensively with Irish businesses.

For Irish businesses the advise that they receive this week will strongly shape the direction their business may take in the short and medium term. Entering each new market is different when it comes to route of entry, cultural differences, taxes and the development stage of the market.

Amatino Partners are bringing their business roadshow to the Headfort Arms Hotel, Kells on Wednesday the 5th of October.

We are offering local business owners a free, private consultation to discuss any issues regarding accounts, taxation, grants, marketing or other business issues.

We offer a full range of competitively priced services to our clients including:

• Preparation of Accounts & Taxation Returns
• Tax Planning & Consultancy
• Outsourced bookkeeping & payroll
• Assistance with bank and grant applications
• Marketing Consultancy
• Business Advisory services including debtor & cashflow management programmes, cost reduction programmes, ISO quality assurance and assistance with public sector tendering.


To Book a place, call Grainne Brady on 047 84955 or email grainne@amatino.ie

Amatino Partners are bringing their business roadshow to the Headfort Arms Hotel, Kells on Wednesday the 5th of October.

We are offering local business owners a free, private consultation to discuss any issues regarding accounts, taxation, grants, marketing or other business issues.

We offer a full range of competitively priced services to our clients including:

• Preparation of Accounts & Taxation Returns
• Tax Planning & Consultancy
• Outsourced bookkeeping & payroll
• Assistance with bank and grant applications
• Marketing Consultancy
• Business Advisory services including debtor & cashflow management programmes, cost reduction programmes, ISO quality assurance and assistance with public sector tendering.


To Book a place, call Grainne Brady on 047 84955 or email grainne@amatino.ie

The Start & Grow Enterprise Expo is taking place in Tullamore on Friday the 18th of November. This exhibition is tailored for start up businesses or businesses interested in expanding or developing. There will be one-to-one mentoring opportunities, guest speakers, exhibitors from grant and support agencies as well as opportunities to network with the mentors and other business owners.

The speakers include: 

  • Denis O Brien - Entrepreneur
  • Terry Clune, Group CEO, Taxback.Com,
  • Senator Mary Ann O’Brien, MD, Lily O’Brien’s Chocolates
  • Declan Lenahan, CEO, Europharma Concepts
  • Colm MacFhionnlaoich, Manager Potential Exporters, Enterprise Ireland
To register a place contact, Margaret Hennessy on 090 648 7100 or email margaret.hennessy@enterprise-ireland.com
Its vital to remember the difference between Linkedin and Facebook. Facebook is a social way of communicating with your friends and if you have a Facebook Business this will be more professional but on Linkedin, remember this is the showcase for your business so remember to be professional.

Setting up a Linked in Profile

1. Register your details on www.linkedin.com
2.
Linkedin is like the professional version of Facebook, it allows you to add a profile of yourself, detailing your experience, qualifications and the business that you work in.

Linkedin - who should use it?

1. Small Businesses & Startup Businesses - Linkedin allows these businesses to create a profile for the business and the managers/employees. It gives prospective clients and customers a great understanding of who you are, your experience and your offering.

2.
The All-Island Seedcorn Business competition gives entrepreneur, early-stage, high-growth companies the opportunity to compete and win a share of the prize of €280,000 investment in your business. The deadline is next Friday the 16th

To apply you need to submit your business plan which is assessed and if shortlisted, you would be invited to deliver an investment pitch in front of the judging panel comprising venture capitalists, business angels and some of the island’s leading industry experts. The judges are looking for the same elements as a potential investor including high growth projections, the optimum risk/reward profile, a strong management team and the ability to exit.

Your company will also automatically become part of the Seedcorn Network – an extensive business community which will help boost your company’s profile, contacts and investment opportunities.
By taking part, previous Seedcorn finalists have attracted in excess of €140 million in new equity funding.

High-growth, start-up businesses across the region must win:
  • Best High Growth Company – €100,000
  • Best Emerging Company – €50,000
  • 6 Regional Winners – €20,000
  • Special Award University Spin-out/Platform Programme– €10,000

Deadline for entries is 1pm, Friday 16th September 2011.

For further information on how to enter the All-Island Seedcorn Business Competition 2011:
Visit www.intertradeireland.com/seedcorn

At Amatino Partners we offer our clients a wide range of outsourced administration and bookkeeping services. Our experienced, qualified staff provide excellent service and significant cost savings over employing equivalent full-time employees.

These services can be carried out on-site at your premises or alternatively from our offices in Cavan or Monaghan.

The Services


  • Secretarial Services – letters / typing / filing / appointment scheduling
  • Bookkeeping & Accounts:
    • Sales & Purchases Invoicing / Processing;
    • Bank reconciliations;
    • Supplier payments;
    • VAT Returns;
    • Payroll and Employee Expenses.
    • PAYE / PRSI Returns
    • Subcontractor payments & RCT Returns

  • Credit Control – fully managed debtors / credit control function including issuing debtor statements, phonecalls & letters to debtors, regular reporting and meeting with business owners.

The Benefits

  • Experienced Staff who will use the most efficient and up to date methods available
  • All bookkeeping work is supervised by qualified accountancy staff
  • Free up business owner’s time to concentrate on other parts of the business
  • Ensures quality & accuracy of internal accounts reports
  • Provide the business owners with regular reports – sales / bank / debtors / profitability / suppliers.
  • Significant Cost Savings over full-time Employees:
    • Lower annual cost
    • No Employer’s PRSI
    • No Holiday Pay
    • No Redundancy Entitlements
    • No training costs
    • No / Reduced software costs

For a free consultation and quotation in respect of our outsourced services contact Geoff Foster geoff@amatino.ie or Barry Kieran barry@amatino.ie 

The latest figures from the Central Statistics Office have shown that they annual rate of inflation has remained unchanged at 2.7% for July. IBEC believe that this inflation rate and the predicted fall in inflation over the next year may be a silver lining of the current market turmoil. The recent oil price drops and interest rates are lower than expected which is a real boost to Irish consumers.

Enterprise Ireland's High Potential Start-up Programme aimed to help support and develop start-up businesses and today's news has shown the programme has been a success. The 443 jobs are to be created this year and further jobs are due to be created over the next 2-3 years. The jobs are in indigenous businesses in the following sectors: clean technology, life sciences, financial services and information and communications technology.

 

With over 300 new jobs announced in the first quarter of this year, this programme has been a success.

This good news comes after this week's good news that Paypal are to recruit 200 more employees in Ireland to support their online payment system.

If you are in business or thinking of starting a business and need support and advice, call Patrick Cunningham on 04784955 or email patrick@amatino.ie

More small firms are planning to recruit than make lay-offs for the first time in two years, according to the Small Firms Association. The association carried out a survey which showed that 23% of companies plan to take on temporary workers over the summer with 15% intending to hire permanent staff.

 

On a positive note, just 3% said they planned to make compulsory redundancies, compared with 22% in 2009. The Small Firms Association have put this increase down to the incentives such as the Jobs Initiative launched in recent weeks and more significantly in the halving of the lower rate of employers's PRSI which has created real job creation.

 

 

 

The survey was conducted last month among 592 companies from the manufacturing, retail and services sectors employing 12,750 people. Some 3% of companies surveyed said they were in the process of laying off staff, while 8% said they were carrying out short-time working arrangements.

 

A separate survey carried out by business body Ibec found the number of companies planning to hire within the next three months almost doubled to more than 20% from the same period last year.

 

Enterprise Ireland's Seed and Venture Capital Programme was set up to boost the development of start up businesses and this type of investment is strongly needed to help these businesses make an impact in the export market. Last year alone, Enterprise Ireland invested €42m in 74 companies and €52m was invested in 64 companies in 2009.

This critical funding is a life line to businesses struggling to enter export markets and provides support and employment to businesses.

During the year, there was an increase of €18 million in seed capital funding available to Irish companies:

  • €17 million Bank of Ireland Start-up and Emerging Sectors Equity Fund 2010.
  • €1 million investment by Galway University Foundation in the original Bank of Ireland Seed and Early Stage Equity.
  • €75 million Atlantic Bridge II Limited Partnership Fund, which will build upon the strong performance of the previous Atlantic Bridge Fund.

So if you are thinking of starting a business suitable for the export market, contact Barry Kieran for advice on funding, grants and business planning, 047 84955.

If you employ any staff, you must be compliant with the National Employment Rights Authority (NERA) guidelines. These guidelines apply to all employers including the farming sector. The farming sector have had 31 inspections in the first 5 months of this year and over half of those inspected were found to be non-compliant and are now liable for an extra €87,726 in underpayment of wages.

 

Employers must provide all employees with written terms and conditions of employment within 2 months of starting work. These terms and conditions should outline the breaks and working hours the employee is entitled to.

Are you a business or thinking of starting a business? We are holding our next Business Roadshow in the Bailie Hotel in Bailieborough, Co Cavan next Wednesday, the 20th July from 2-7pm.

If you are interested in a FREE meeting with an Accountant, Business Advisor, Tax or Marketing Consultant to answer any queries you may have about your business, call now to reserve a one-to-one meeting. Call 047 84955 or email grainne@amatino.ie

We will be holding our next Business Roadshow in the Bailie Hotel in Bailieborough, Co Cavan on Wednesday the 20th of July from 2-7pm. On the day, we will have accountants, business advisors, tax and marketing consultants available to all businesses, farmers and individuals who are interested in a FREE one hour meeting.

So if you have any business queries about costing, debt management, marketing your business or any other queries, book your place now by calling Grainne Brady on 047 84955. Limited Places Available.

Marketing for Small Businesses

By Grainne Brady Tuesday, 5th July 2011 | 0 comments
Filed under: Marketing, Amatino Partners, Business Start-up.

Most businesses are tightening their belts rather than spending and when you suggest marketing, many business owners take a sharp intake of breath. In reality, tightening up on spending can only save so much, if you cut back or remove your marketing budget entirely, you could be cutting more than just your costs.

Marketing is not some fluffy idea and neither does it have to cost a fortune. Simple, effective marketing is within your business reach.

Internship Scheme - How can you apply?

By John Kieran Friday, 1st July 2011 | 0 comments
Filed under: Amatino Partners, Business Start-up.

 

What is an internship?

JobBridge is a new National Internship Scheme that will provide work experience placements for interns for a 6 month or 9 month period.

The aim of the National Internship Scheme is to assist in breaking the cycle where jobseekers are unable to get a job without experience, either as new entrants to the labour market after education or training or as unemployed workers wishing to learn new skills. The scheme will also give young people a real opportunity to gain valuable experience to bridge the gap between study and the beginning of their working lives.

Interns will receive an allowance of €50 per week on top of their social welfare entitlement. This will be payable for the period of the internship.

 

What are the benefits of taking on an intern?


By taking part in the JobBridge scheme, your organisation will:
  • Give an unemployed person the opportunity to gain relevant work experience
  • Access potential future employees
  • Enhance the performance of your organisation by offering an internship to motivated individuals with enthusiasm and a passion for developing their careers
  • Bring in fresh talent, fresh ideas and new thinking
  • Access newly trained interns with recent skills sets or skilled workers that add real value to your organisation.

 

Is your organisation eligible?

 

  • This programme is open to host organisations in the private, public (including commercial semi-state) or community and voluntary sectors.

  • In order to qualify for an internship an organisation, or a local branch, must have a minimum of 1 full time employee who is employed for 30 hours or more per week (i.e. on payroll and subject to tax and PRSI).

  • The host organisation must be a legal entity.

  • The host organisation may not be a Sole Trader.

  • The host organisation currently may not have vacancies in the area of activity in which the internship is offered.

  • The internship will not be provided to displace an employee.
If you are in business or thinking of starting a business, call in to the Glencarn Hotel in Castleblaney on Wednesday the 29th of June. Amatino Partners will be hosting their next Business Roadshow on Wednesday from 2-7pm.

We will be offering a FREE 1 hour one-to-one meeting with our Accountants, Business Advisors, Taxation and Marketing Consultants. All businesses are welcome to the event, just simply ring to book your FREE appointment, call 047 84955.

If you are in business or thinking of starting a business then join us in the Riverfront Hotel in Virginia on Wednesday the 15th of June for our Business Road show from 2-8pm. We will have accountants, business advisors, tax and marketing consultants there on the day to give you advice and answer any queries you may have.

So if you are interested in debt management, product costing, how to best market your business or pass your business on to the next generation, then call and book a place now.

Appointments are private and will last about an hour so book you place in advance by calling 047 84955 or 049 4371211.

Ireland's tourist industry has been brought to its knees since the recession hit in 2008  but recent state visits from Barack Obama and Queen Elizabeth may have given the industry the boost it badly needed. The number of tourists flocking to our visitor attractions plummeted between early 2008 and late 2010 -- but many of these attractions have seen visitor numbers jump by at least 10 per cent so far this year.

Unprecedented, positive press coverage during the state visits have show that Ireland is still a viable and very attractive holiday destination for all visitors but in particular UK and US visitors. This year's unseasonally sunny April must have played its part as did the absence of the ash cloud, which prevented many tourists from flying into Ireland in April 2010.

Already the attractions have seen an uplift in visitors with Wax Museum visits are up 10%, Rock of Cashel visits are up 16%, Dublin Zoo visits are up 31%, Cliffs of Moher up 18%.

Recent press coverage has shown that hard work can help bring life back to the tourism sector which will not only benefit the sector itself but all businesses.

If you are interested in intensively addressing the marketing needs of your business or would be interested in outsourcing your marketing, click here.

The FÁS Work Placement Programme provides 9 months’ work experience for graduates and other unemployed people. The eligibility criteria for this programme were revised in December 2009. The Programme provides 7,500 places in the private, public, community and voluntary sectors.

A new National Internship Scheme has been announced. It will provide 5,000 internship placements, also in the private, public, community and voluntary sectors.

Due to the success of our Amatino Partners Roadshow in Carrickmacross last week and the interest from businesses in our FREE one-to-one consultation, we are opening up the offer to all businesses.

At Amatino Partners we have all the professional services under the same roof so we can assist you with everything from your account, tax and business advice right through to your marketing.If you are in business or interested in starting a business, then call me today to make an appointment with your chosen consultant. 047 84955 or 0876171957.

We are offering a FREE one-to-one business workshop on the 17th of May in the Shirley Arms Hotel from 2-7pm. We will provide practical and relevant advice on how to deal with the following business challenges:

Debt Management – Create workable solutions to collect cash quicker.
Stock Management – Holding stock costs you dearly if not properly managed, we can help you manage your stock effectively.
Product Margins – Do you know your best/worst performing products with regard to cashflow?
Cost Management – In these challenging times, the businesses which are surviving best are getting more for less from their available sources. We can help you introduce workable strategies to ensure your business costs are managed efficiently.
Marketing – Practical Marketing activities can help you retain your customer base and attract new customers to your business.

At Amatino Partners, we work with businesses in a wide variety of sectors and we can advise you on the current best practices for your sector.

If you are in business in the Monaghan area and would be interested in increasing your sales through referrals from fellow business people, then BNI may be for you. This well known networking model has been successful all over the world and now it has come to Monaghan.

How can it help my business?

With 20-40 members in each group, it is an ideal place to promote your business, increase awareness of what you do and generate work from other businesses.

There is only one business place for each category available so that means there is no direct competition within the group or conflict on your category.

What types of businesses can join?

The Monaghan BNI group has members in a wide variety of categories from a building contractor and cleaning company right through to a photographer, florist, accountant and investment advisor. So really any business can join the group as long as their category has not yet been filled.

Can I visit the group to see it in action?

Yes, we meet on a weekly basis in the Westenra Hotel in Monaghan town for a breakfast meeting that starts at 7am sharp and the meeting finishes at 8.30am.

Writing a business plan is a crucial first step when setting up a business. A business plan is the blueprints for your business it can help you navigate and manage your company while also helping potential investors, partners, and lenders understand your business strategy and your chances at success. It can help you describe your product or service, detail your marketing strategy, and lay out your sales and operational forecasts, including the ever important cash-flow projection so as to keep your business on track for profits.

You may be surprised to hear that businesses are still recruiting, even in the middle of a recession. Employing the right person for the job can make or break a business. There are many ways of going about looking for new employees.


• Recruitment agencies:
Using a recruitment agency could save you money and time, looking through CVs, checking references, and testing that skills are up to scratch.

It's proposed that the Government are planning to force the banks to loan €400 million to small and medium sized businesses. Thousands of businesses could soon benefit from this scheme.

The Government will effectively go guarantor on the loans from the banks and promise to cover a large portion of the debt if the business fails. The banks will still loan the money, but under tight supervision from the Government to ensure the guarantee is not being abused.

The Irish County Enterprise Board has a grant available for new micro enterprises in the first 18 months of start up. This grant will be available to:


• Community groups,
• Sole traders,
• Limited companies,
• Partnerships.

For this grant to be available to you, you must fulfill the following criteria…
• A domestically traded services business with the potential to trade globally,
• A business which will recruit up to 10 employees,
• A business situated within the CEB’s geographic region,
• A business which on growth may or may not fit the Enterprise Ireland portfolio,
• Unemployed persons where the potential for deadweight and displacement does not exist,
• A manufacturing or globally traded services business,
• A domestically traded services business being established by a female returning to the workforce.

There is a maximum grant of €15,000 per full time employment created this shall apply in respect of any employment support grant aided. In all other cases, the maximum grant shall be 50% of the investment or €80,000 whichever is smaller amount.


Grants which are €80,000 and up to €150,000 shall be the exception and will only apply in the case of businesses that clearly display a potential to graduate to Enterprise Ireland and/or to export globally.

Marketing - How to create a Marketing Plan

By Grainne Brady Thursday, 7th April 2011 | 0 comments
Filed under: Marketing, Amatino Partners, Business Start-up.
1. Be strategic and accurately define your target market. This can be much more difficult than it sounds. Define your ideal customer and list their needs.

The importance of Marketing for SMEs

By Grainne Brady on Northern Sound Friday, 25th March 2011 | 0 comments
Filed under: Marketing, Amatino Partners, Business Start-up.

If you missed our weekly slot on Northern Sound radio, you can listen again now by clicking on this link http://www.northernsound.ie/podcasts.php

Grainne Brady spoke about Marketing for small businesses and how it can be achieved with a limited budget.

Patrick Cunningham discussed some key issues around the importance of controlling cash flow within businesses while on the Joe Finnegan radio show on Northern Sound this morning. Here is a summary of the tips he mentioned:

• Poor cash flow management can ruin a business.
A business with plenty of work on hand can face ruin due to insufficient cash.
A full order book does not necessarily equate to healthy bank balance.

• You won’t have a business if you don’t have basic control in place to safeguard your hard earned monies.

• Cash does not flow on its own accord any more – it must be planned and implemented

• Don’t rely on bank overdraft going forward
- Expensive – 12% +
- If turnover is dropping the overdraft will also be curtailed by bank
- No guarantee that overdraft facilities will be renewed

• Two sides to proper cash flow management

Customer receipts

Implement and enforce firm but fair policies and procedures



1. Customer Receipts

 Check them out.

Irish Language Grants for Businesses

By Grainne Brady Friday, 25th February 2011 | 0 comments
Filed under: Marketing, Amatino Partners, Business Start-up.
Foras na Gaeilge is committed to supporting the Business Community in exploring and developing the practical business application of the Irish language and to this end financial assistance of €3,000 / £1,750 is provided through their ‘Bilingual Signage Scheme’ and their ‘Bilingual Materials Scheme’. Development grants with a value of up to €12,000 / £8,000 are also available through our support fund ‘Innovation in the Business Sector’ to facilitate and normalize the use of Irish within the relevant field.

Foras na Gaeilge has developed a wide range of custome-designed business support aids, all of which are available free of charge through the self-ordering system at ‘Reources to Order’, and there is an extensive collection of relevant bilingual templates which can be downloaded free from ‘Downloadable Resources’. ‘Gnó Means Business’ also provides information on other relevant business-support sources as at ‘Sources of Funding’ and ‘Business Support Resources’, in which there is a valuable information database of opportunities for the use of Irish within a business context. 

Provisional figures show that the value of exports in December rose by 21% compared with a year earlier to just over €7.2 billion. This would suggest that exports for the full year rose by almost 7% compared with 2009.

The Central Statistics Office said imports in December were up 9% from a year earlier to just over €4 billion.

Compared with November, seasonally adjusted figures show that exports were little changed, but imports rose by 12%.

Detailed figures for the first 11 months of 2009 show that exports rose by 6% from the same period a year earlier to €82.8 billion, with exports of medical and pharmaceutical products rising by 14%. Exports to the US were up 11% from a year earlier, while exports to Germany grew by 15%.

Imports for the 11 months were almost unchanged from the same period in 2009 at €41.3 billion, with petrol imports up 28% and imports of road vehicles jumping by 76%. Imports from the US fell 18%, but imports from Britain rose by 6%.

BNI Monaghan - A great way of generating new business

By Grainne Brady Tuesday, 15th February 2011 | 0 comments
Filed under: Amatino Partners, Business Start-up.

While the downturn in the economy has dampened the enthusiasm of many local businesses, the BNI Diamond Chapter, is fighting back and stimulating new business opportunities by working together. Each meeting starts with a round of “elevator speeches”, in which members get 60 seconds to explain their business to the group. No two businesses in a BNI chapter are allowed to be in the same category, so members come from all walks of life.

The meat of the meeting, however, is the swapping of client leads.

Enterprise Ireland Workshop 15th March in Dundalk

By John Kieran Friday, 11th February 2011 | 0 comments
Filed under: Amatino Partners, Grants, Business Start-up.

Enterprise Ireland will hold an evening workshop – ‘EnterpriseSTART’ on Tuesday 15th March from 4pm – 9pm in the Enterprise Ireland Boardroom, Dundalk.

They are seeking entrepreneurs with a new business idea in either manufacturing or International Traded service sector, and who can demonstrate that their idea is innovative and with the potential to export.

Places are limited to 10 participants and the Workshop is free.

The workshop will concentrate on all aspects of setting up and running a business. It will cover Market Validation, Market Proposition, Unique Selling point etc. There will be a speaker from Enterprise Ireland to speak about what Enterprise Ireland can do for new start up businesses.

1. Good Reasons to Start a Business in Recessionary Times

• Lower Costs
• Labour is cheaper
• Rents Cheaper
• Using the latest technologies in your business – cost advantage
• People are shopping around looking for better value – this creates opportunities for the starters.
• Cost base will be lower – therefore better able to compete with more established business.
• SME are corner stone of employment in local economy
• SME are flexible and adaptable.
• Think like a large business from the start

2. Financials - Know your numbers

• Enough Cash to get started and keep your business financed until it starts making profits – usually after year 1
• Big failure of start up business – insufficient cash
• Work out the set up costs + running costs
• Project your sales figures
• Tendency to under estimate the costs and over estimate the sales income = ,Leads to early problems
• Sources of finance
Own Savings – be prepared to put your money on the line
Bank Finance = Straight Loans, Leasing (Motors certain Plant) bank Overdraft
Relative Costs of Finances
• Essential to have a well tested business plan.

Tips for Creating a Good Marketing Plan

By Grainne Brady Tuesday, 1st February 2011 | 0 comments
Filed under: Marketing, Amatino Partners, Business Start-up.

Its the perfect time of year to start planning for the year ahead so whether you are in business 1 month or 10 years, start today.


1. Be strategic and accurately define your target market. This can be much more difficult than it sounds. Define your ideal customer and list their needs.

What is marketing & how can it help small Businesses?

By Grainne Brady & Northern Sound Thursday, 27th January 2011 | 0 comments
Filed under: Marketing, Amatino Partners, Business Start-up.

The Importance of Marketing
There are a couple of key misconceptions about marketing.
1. Many business owners believe that they are too small for marketing. This is completely untrue, small business need to market themselves so that customers know who they are.
2.Others think they cannot afford marketing.

Starting up a new business in the New Year

By Grainne Brady Wednesday, 5th January 2011 | 0 comments
Filed under: Amatino Partners, Business Start-up, Budget 2011.

New Year is an ideal time to wipe the slate clean and start something new. While we all make resolutions that we may not necessarily keep, starting a new business is one venture which must be followed through on.

The success of your new business will depend on many different elements but strong foundations can certainly get you off to the right start. A well thought through business plan, will ensure that you know your competition, your target market, the growth required to sustain the business and the finance you require.

Tune in to Northern Sound today for Coverage of Budget 2011  at 3.30pm with Des Lowry. Click here to listen live.

               Desmond Lowry       

Des Lowry amatino 34  2

Many businesses face exhausting their domestic market and the next step is to introduce their products to foreign markets. However it is imperative to understand the market you wish to enter as well as the financial aspects of this method of expansion.

Benefits of Exporting


• Sales growth
• Increased profitability
• Providing economies of scale
• Raise the company profile


Considerations when evaluating decisions to export


• Is there a demand in the export market?
• Which countries have the best opportunities?
• What are the best sales channels for any product in that market?
• Will my product need technical or design modifications?
• Can it be packaged suitably for international transport?
• Is an export license required?
• Assess and profile the competition:
• Who is my competition?
• What channels of distribution do competitors use?
• Is there any government funding available for exporting my product?


FOREARMED IS FOREWARNED.


There are many more considerations to be assessed and if you feel that this is the next step for your business, please contact Amatino Partners www.amatino.ie or alternatively Patrick Cunningham on 047 84955 and we will guide you all the way.

Modern Ireland has recently seen a significant rise in the number of people setting up their own business. Innovation and creation are being hailed as the main drivers for many of these entrepreneurs. However, an idea without sound business advice and resources is like swimming against the tide.

Many new and existing businesses are availing of grants from their Local Enterprise Boards to establish their products or services in the marketplace.

For advice and guidance on setting up your own business, contact Amatino Partners. www.amatino.ie

We are hosting a seminar for businesses to help drive their performance and improve efficiencies. We will be joined by Marianne Mc Eneaney from Cavan Monaghan Leader who will discuss the grant opportunities for start up and existing businesses. Niall Thornton from Key Financials will be on hand to give tips on dealing with your bank and preparing information for bank meetings.

Our own, Patrick Cunningham will give a presentation on the practical ways to improve efficiencies, maximise grants and increase your business performance.

Forget the doom and gloom, its time to sit up and take action. We are hosting a Business Seminar to help Drive Your Business Performance. The last 24 months have hit all businesses hard and now the time has come to start rebuilding and growing your business.

Our seminar will give you the tools and motivation to maximise your growth with the help of grants, investments, business advisory and marketing advice.

The economy has effected all business sectors including retail. Most retailers have experienced a dip in sales while their costs have remained high and urgently need to take a closer look at their cash flow in order to survive.

There are 3 principles that companies should follow if they are to seriously examine their cashflow:

1. Increase cash awareness throughout the business

Everyone in the business must be cash focused, from the sales staff right through to support. There is no point in pushing the sales staff to win sales with customers who will not pay or who already have outstanding invoices.

The scheme is open currently for the Public Sector. It is very close to approval for the Private Sector. In the meantime, you can review the scheme and prepare for an application when fully approved.

Any submission in advance of the release will be treated as an Intent to Apply only, rather than an official application.

The timing of project window will be quite tight, this advance notice is intended to initially inform you of the scheme but also to maximise project time window should you intend to proceed with a grant application.

Please see link below for Guideline document and scheme description.

Energy Efficiency Retrofit Fund link:  http://www.seai.ie/Grants/Retrofit/

Here are the key points

•             Open to Public and Private sectors

•             Support is available for buildings, services and facilities upgrades

•             Projects to focus mainly on thermal and electrical energy use in buildings (but facilities, processes and transport are eligible)

•             Grant 35% funding available to private sector, with a grant range greater than €20K and less than €500K, e.g. €100K granted projects are encouraged

•             Usual qualifying costs, external labour, materials, hardware etc, however no internal staff costs included, or costs incurred prior to grant approval

•             The project must be completed and final documentation submitted by 1/12/10

•             An assessment by SEAI to qualify should take 4 weeks

•             Projects must include a effective system of savings verification

•             Generally SEAI are looking for exemplar,  innovative and projects that can be replicated

•             Speak with the programme contacts before submitting an application

•             Applications cannot be taken just yet, but the strong advice is to get them prepared

 

Applications should be made, in electronic format, using the EERF Application Form. They should be sent to: eerf@seai.ie, and a hard copy (with all relevant signatures) should be posted to: The Grants Administrator, SEAI, Wilton Park House, Wilton Place, Dublin 2.

Bank of Ireland have launched the Show your Business Campaign in all branches between the 24th and 28th of May. It is a great opportunities for businesses to showcase their services within the bank environment to potential new customers.

Amatino Partners will be participating in the event in the Cavan town branch this Friday from 10am until 4pm so why not call in and see what we can offer you and your business.

Show your Business Week, is a business initiative organised by Bank of Ireland.Its aim is to bring local businesses together in Bank of Ireland branches across Ireland, to show and sell their products and services. All Bank of Ireland branches will host the Show your Business Week from the 24th-28th of May so if you are interested in showcasing your business, contact your local branch today!

Amatino Partners  will be taking part on:

  • 14th of May 10-4pm in Bank of Ireland Monaghan
  • 28th of May 10-4pm in Bank of Ireland Cavan

Feedback received from the last Show your Business Week in December confirmed that many of the businesses achieved new sales leads, and it provided them with a platform for greater exposure to the local business community along with the prospect of reaching a new audience/marketplace.

Having achieved and maintained the cost cutting measures introduced to your business here are some key pointers towards ensuring future growth & profitability:


1. Product / Service Profitability
• Proper consideration of the true costs & profits associated with each product/service will show the optimal sales mix from a profitability perspective.
• Review your purchasing policy for potential savings and consider outsourcing as a means to reduce certain overheads.

2. Customer Profitability
• As above consider the true costs including the cost of delivery & credit terms in assessing this measure.

3.

We send out a monthly newsletter to our clients and those who have signed up to our newsletter. The topics we cover vary but we try to keep them as relevant as possible to you and your business.

It is a great source of information for new budget changes, taxation, marketing and business news. Sign up today by clicking here.

For any business these days, it's a familiar scenario: You win the business submit the invoice, wait 30 days and then - nothing. Your staff and creditors expect to get paid on time, so is there anything you can do? Here's a methodology that may help you speed up delivery of payment of your invoices, and avoid hassle with your clients.

 

Define Your Terms

Define your terms and conditions It’s really important to define your terms and conditions for payment on your invoice.

We are all tired of the doom and gloom which prevails over the business sector in the last 12 months. With a New Year comes new opportunities and the option to look at your business in a new way.

Recession...even the word sounds depressing but use this time of change to your advantage by reviewing your business, your systems, your staff and your products. Taking stock allows you to look objectively at your business and see where it needs to be changed to compete in the new market of 2010.

Review your business under the following topics:

  • Operational Excellence – this is one way of protecting the core of your business
  • Operations – can you improve on the way you make decisions, use your time, run your production etc
  • The marketplace – are you competitive in the current marketplace
  • Value – review the value in your product or service, add extra value only if it is required by the customer
  • Customer – are you communicating to your customer?

The Budget is the key talking point for everyone at the minute, even the flooding hasn't dampened the speculation. If you want to be the first to know about how the budget will effect you and your business, we can help.

At Amatino Partners, we will be holding two Budget Review sessions on the 10th of December, the day after the budget. Our first session will take place in the Shirley Arms Hotel in Carrickmacross at 7.30am, to book your place call 047 84955 or email grainne@amatino.ie

Our second Budget Review session will take place on the 10th of December at 6.30pm in the Cavan Crystal Hotel, to book a place call 049 437 1211 or email alison@amatino.ie

Booking is essential and is free of charge, so reserve your place now!

The Tánaiste and Minister for Enterprise, Trade and Employment, Ms. Mary Coughlan, T.D., together with the Minister for Social and Family Affairs, Ms. Mary Hanafin, T.D., today (Friday 13th November 2009) announced details to relax the eligibility criteria of the Work Placement Programme.

What is LEADER? Leader is a rural development grant established by the European Commission in 1991. The aim of the grant is to aid the development of sustainable rural communities.


How do I qualify for the Leader Grant?
The following are priority areas for action 2007-2013:
• Farm Diversification into non-agricultural activities
• Support for the creation and development of micro-enterprises
• Encouragement and development of tourism activities
• Provision of basic services for the economy and rural population
• Village renewal and development
• Conservation and upgrading of the rural heritage
• Relevant training, research, animation and information initiatives
• Co-operation projects at national and transnational level


If you are interested in finding out more about the funding, contact Patrick or Grainne on 047 84955.

Monaghan Enterprise Day

By Patrick Cunningham Monday, 16th November 2009 | 0 comments
Filed under: Business Advisory - Amatino Partners, Amatino Partners, Grants, Business Start-up.
Monaghan County Enterprise Board are organising an Enterprise Day in the Hilgrove Hotel in Monaghan tomorrow. The session opens at 3pm and runs until 9pm. For more information on the event, click here.

Taxman to Target Black Economy

By John Kieran Wednesday, 11th November 2009 | 0 comments
Filed under: Taxation, Amatino Partners, Business Start-up.

With tax revenue continuing to fall every month, the Revenue Commissioners are looking at new ways to increase revenue. During the Celtic Tiger, the black economy was overlooked to a certain extent due to sufficient legitimate taxes being submitted by businesses.

Now, with the downturn in the economy reducing tax revenue for the first 10 months of this year by 20%, the black or shadow economy, is now being targeted for taxes. In the past 10 days, Revenue have contacted 7,000 people who sold properties in the last year, strongly reminding them about the law in relation to Capital Gains Tax.

Up until 2008, taxes were generally filed on time but this has changed with the economic slowdown.

Golden Rules for Finance

By Sunday Business Post Monday, 9th November 2009 | 0 comments
Filed under: Business Advisory - Amatino Partners, Amatino Partners, Business Start-up.

When making an application to a lender for business finance, take heed of the following golden rules:

  1. If your business is still only a concept, consider using other means of finance to develop it further before you approach a bank. For example, angel investors or equity investments will give the injection of capital required to turn a concept into a reality.
  2. Having orders and a definite inflow of cash before you approach a bank makes your proposition stronger.
  3. Stress test any projections you have about future cashflows. Don't be overly ambitious and be realistic. " One of the biggest mistakes that people make is that they tend to be pretty ambitious with sales and profit projections", says John Kelly, a senior manager in AIB's SME division. "If you break even in year two or three, that is still a very good result."
  4. Don't underestimate the importance of a strong business plan.
  5. Businesses are only as good as the people who run them so stress your business expertise, industry contacts and other useful skills in your loan application and business plan.

Cavan Office
  • Aeta Place, 
    Gortnakesh, Cavan
  • Tel: 049-4371211,
  • Fax: 049-4332631
  • Email: info@amatino.ie
Monaghan Office
  • 42 Dublin Street,
    Monaghan Town, Monaghan
  • Tel.: 047-84955, Fax: 047-84957
  • Email: info@amatino.ie
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