Start Ups

Start Ups

Why Should You Save Money?

Saving money can be difficult to do but like any other skill saving gets easier with practice. It’s always a good idea to save so that you have cash on hand for emergencies, sudden loss of income, major purchases or irregular spending. Savings will also be required to buy a property (20% deposit). A good…

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What Does My Audit Report Mean?

Depending on the findings at the time an audit is carried out, there are different opinion paragraphs used in a company’s audit report. These are summarised below. Unqualified (“clean”) report The auditor has concluded that the accounts are free from errors which would render the accounts not to show a true and fair view. This…

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6 Pitfalls Of Not Having Good Bookkeeping Records

We all know that for the vast majority of people that when they hear their accountants talk about the merit of good bookkeeping their eyes will glaze over with disinterest, in some cases they may even lose the will to live. Whilst, bookkeeping may be for some a boring, and for others the most arduous…

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7 Top Tips For Selling Your Business

The most popular exit strategy is the sale of a business. 1. Prepare for a sale years in advance – Maintain a file of your audited / reviewed accounts going back as far as possible. – Maintain a file of legal documents and keep this updated. – Exit at a time of strength, plan your…

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Loan Conditions: What Is Subordinated Debt?

Subordinated Debt Banks often request that a liability be “subordinated” as a pre-condition to making new finance available to a borrower. In practice, the condition to “subordinate” debt often comes into focus with respect to shareholder’s loans in SME businesses. What does it mean? If a liability is subordinated to bank debt, the hierarchy of…

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Microfinance Ireland – Change in Lending Terms

As of the 1st of April 2015, businesses seeking loans from Microfinance Ireland (MFI) will no longer require commercial bank refusal before they can apply for lending from the government backed fund. This fund was establish in 2012 by the Irish government to help start-up, new or growing enterprises across all sectors. The Microenterprise Loan…

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One-Stop-Shop For Tracking Your Money

Cooney Carey developed a free App called “Bank Balances” which is available on the Apple App store.  There has been over 12,000 downloads of the App and we are getting great feedback from the users. Have you ever wanted to know:- – how much is in my current a/c – how much is my mortgage…

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Want A Thriving Business? Top 10 Communications Tips For Start Ups

We know how busy you are with running your business, so we gathered our top tips in one place for your convenience. Tuesday Tip on Communication #10: Monitor What People Are Saying Tuesday Tip on Communication #9: Make Your Website Engaging Thursday Legal Tidings #8: Get Your IT And Your Communications Platform Ready…

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Thursday Legal Tidings #10: Keep Your Team Motivated

Incentivise your staff. Keep them motivated. Consider an Employee Share Option Scheme and/or a performance based bonus arrangement. Make them part of the team and make them feel part of your success. THURSDAY LEGAL TIDINGS #9 In case you missed our previous Thursday Legal Tidings,

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Wednesday Financial Wisdom #10: Focus On Constant And Consistent Communication

It’s easy to sell one product or service, but it takes good communication to build a brand, retain customers and keep them coming back. Constant and consistent communication helps a)   turn prospects into customers, b)   increase the value of each sale, and c)    increase the buying frequency from existing customers. WEDNESDAY FINANCIAL WISDOM  In case…

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