Starting a business in 2021? Here's our starting business checklist to help you hit the ground running

1. Find a good business idea and USP

You need a unique selling point (USP). It’s important that you define what makes your business different to the competition. Try to sum it up in two sentences – and memorise it. You'll use it every time you pitch to investors and potential customers

2. Find a business mentor

Whether it's a business advisor or a financial guru, find someone who will give you honest feedback about your business.  If you would like to discuss your ideas why not book a free call with me. 

3. Create a business plan

When you create a business plan, you’ll need to summarise your business as it is now and map your vision for how it will be in the future.

4. Register web domains and trademarks

You'll need a website, so check for suitable domain names and register them.

5. Set up your business structure

Choose a legal structure that works best for you. RDA can help with this, give George Skelton a call on 053 9170507

6. Office space

Owning or renting office space is not a necessity when you are starting off, but if you’re looking to move from the kitchen table or leave the solitude of a home office, this is possible to do at a relatively low cost. Have you thought about Coworking space?

You can register your business to your home address and avail of the many floating desks or hot desks that have been set up by business communities around the country. 

7. Set up a business bank account

Don't use your personal account, even if you're just starting out. It’s always wise to keep your business finances separate. A credit card and PayPal account could be useful too.

8. Arrange business insurance

Even the smallest companies need insurance. RDA can set up a meeting for you to talk to a Broker.

9. Register for taxes

Organise tax IDs and register with the tax office. It’s best to get this paperwork done right at the start.

10. List the items that can be tax deductible expenses

Office rent, equipment costs, internet costs – all of these may be offset against tax so make sure you talk to your accountant.

11. Set up a website

Get your website up and running as soon as possible. Today, it’s necessary for credibility. Even if your product is not yet built, you can start with company information.

12. Create social media profiles

Different businesses have different social media needs. You might need a Facebook page and a LinkedIn profile – or you may only need a Twitter account. Do some research on competitors or ask your mentor to see what will work for your business. Look at companies that you aspire to be like for inspiration.

13. Find the right employees

Hiring the right employees is important. While you may only be able to hire one or two employees to start with, it’s still vital that you hire well and choose the right ones.

14. Think about how you'll use technology

Nearly all companies use technology. Think about whether you need laptops, tablets, smartphones – or all of these.

15. Keep your data safe

Companies that lose data also lose business. Use cloud-based software for peace of mind.

It’s a big commitment to set up your own business and it is also a major achievement. You will be your own boss you’ll be creating jobs which will help the Irish economy and you’ll be generating your own income. Although it may take a lot of time, energy and hard work in the beginning, starting a business is a very exiting time in your life.

But do you have what it takes to get started? Lets talk ….