Business Advisory Services for Start-Ups
At o’donnell+co, we offer a wide range of business advisory services to companies operating in Ireland and overseas. Our clients include start-ups, medium-sized enterprises, owner-managed businesses, private clients and international companies.
Our startup advisory services go beyond the numbers. Our approach centres on two key steps: firstly, we listen to your ideas to understand your business. Secondly, we then craft business advisory solutions that are specific to your needs. As a result, we deliver industry-specific business advice and planning that adds real value because we understand your strategy and aspirations. Consequently, this facilitates the development of a profitable business model going forward, which will contribute to the sustained growth of the business.
I couldn’t recommend Bryan and the team at O’Donnell’s highly enough. They have helped me navigate the tax and financial world in a way that I can understand, no small order for someone with a creative mind… read full testimonial
Our Business Advisory Start-Up Services
Our startup advisory services include some or all of the areas of activity listed below, depending on your requirements:
Navigating Legal Requirements
Understanding the legal landscape is crucial for any start-up. We provide insights into the necessary legal frameworks, including compliance with local regulations, intellectual property rights, and employment law. This guidance helps protect your business from potential legal pitfalls.
- Selection of corporate structure and company formation
- Registration as a Foreign Employer in Ireland
- Registration of business name
- Provision of a registered office address
- Start-up support: provision of a range of day-to-day business operations (including but not limited to payroll bureau, outsourced accounting and bookkeeping)
- Contract negotiation for all services required e.g. logistics, legal, telecommunications
- Planning revenue, financial projections and cash flow forecasting
- Annual accounting review services in consultation with parent company auditors/accountants (if required)
- Preparation and filing of audit-exempt accounts and all relevant compliance matters
- Provision of information on corporate tax rate (12.5%)
- Guidance on government grants for starting a business
Setting up a company in Ireland is by turns exhilarating and demanding. Moreover, every decision has far-reaching consequences. But whether your company is an established multinational or whether you are a local entrepreneur trying to decide which company type is best for your idea, our business planning process is designed to help you overcome the many obstacles you may encounter along the way. Most importantly, our track record in the provision of international business services stretches back to 1997. In addition, our expertise ranges from working with Irish companies expanding into overseas markets to international companies starting a business in Ireland.
In short, success or failure depends on the business planning process. Similarly, lack of business planning is often cited as one of the principal reasons that start-ups fail.
At o’donnell+co, Chartered Accountants, planning is at the core of everything we do for clients. Our team possess the in-depth experience and knowledge required to facilitate a fast, seamless market entry for your company. From initial concept stage through to development of a viable enterprise, our business advisory services will help you make informed decisions.
Studies show that approximately 50% of startup business ideas fail in their first 5 years of operation. This statistic surely demonstrates the importance of the business planning process. Business planning is a multifunctional tool which can help identify internal weaknesses in financing and cashflow. Above all, our financial reviews (which involve a full analysis of your accounts) play a key role in determining the health of your business. They act as an early warning system to improve performance and guard against risk. In addition, they also build credibility in the eyes of key external stakeholders.
From start-up through to growth phase, here are a few of the ways our business planning service can help you:
- Financial reviews
- Preparing and implementing the Business Plan
- Preparing cashflow and financial projections
- Assessing finance needs
- Setting benchmarks based on key performance indicators
- Monitoring and review
- Management accounts
- Annual accounts
In conclusion, our unique blend of accountancy and tax planning expertise are a key element of our business advisory services. Our unique approach has been helping companies to develop and grow for over 20 years. Every business’ needs are different – you can rest assured that our business advisory service will focus on what’s important to you.
The Role of Technology in Start-Ups
Leveraging technology is essential for efficiency and competitiveness in today’s digital age. We guide start-ups in selecting appropriate software solutions for project management, customer relationship management (CRM), and accounting, which can streamline operations and reduce overhead costs.
Long-term Strategy and Advisory
As your business grows, our advisory services evolve. We provide ongoing consultancy to adapt your strategies in response to market changes, ensuring sustainable growth. This includes revisiting your business plan regularly and making necessary adjustments based on performance metrics and market conditions.