Author: cmanning

How to incorporate a company in Ireland

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How to incorporate a company in Ireland

To start the process of incorporation of company you should understand how to incorporate a company in Ireland. One of the best and fastest ways to incorporate is to use an agent who will go through the process with you and ensure that you are incorporated within three to five working days.

Firstly choose a name
Your name must be unique to be registered on the company registrations office registrar. The name cannot be the same and sometimes not similar to another name on the register. If a company’s name sounds fanatically similar to another company is can also be rejected. The goal here is to find a unique word if there are other similar words to a limited company name already on the register. He will also have the option of registering a trading name so that you can trade with whatever name you wish. You can cheque the availability of names on the Irish Formation’s website and this will give you a good idea as to whether a name is already registered or not.

Officers of the company.
Every company is required to have a minimum of one director and a separate person or entity to act as company secretary. You could have two directors and one of those people could be secretary. You could also engage anomaly secretary if you were on your own and did not want to involve anybody else on the company.

Shares
Under a private limited company with shares you can have one 100 issued shares valued at €1 each. You can also have authorised shares. Issued shares are taken from authorised shares so if you were to allow more than 100 shares in the future the administrative process would be simplified.

Registered Office
Every company is required to have a register to office within the state and many agencies offer the facility of a registered office which should include post handling and scanning if required. The registered office cannot be a P.O. Box.

A company formations agency will tell you the entire process of how to incorporate a company in Ireland and take you through all the costs involved.

TIPS FOR BUYING OUT A COMPETITOR

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TIPS FOR BUYING OUT A COMPETITOR.

As the economy begins to recover, many businesses are finding themselves in a rather enviable position: large cash reserves in the bank and weaker competitors just waiting to be snapped up (for a bargain price!). So you know you want to expand by acquiring another firm, but where to start? comp

Analyse Your Business

Start with a good old-fashioned SWOT analysis. Get a flip chart and a marker and, with your management team, write up the Strengths, Weaknesses, Opportunities and Threats of your business. Now identify the gaps; if for example, a weakness is that you have only 3 large clients, you could fill that gap by buying a competitor who has a further 4 large clients, thereby giving you 7 large clients. Repeat this process for the other areas.

Search for a Business

Now that you have your criteria from SWOT analysis, make sure you know how to look for a business. Don’t just go to one source; really check multiple (and reliable) sources to find the business that is right for you. Talk to your team and establish a list of competitors who are considered to have a good client base, good products or services, a good reputation etc. Get the right team of advisors in place (accountants, lawyers, etc.) and draw up a plan.

Value the Business Properly

Your accountant can help you with this, but you should read up and understand the basic financial techniques to value a business; it’s cash flow and other assets. Know how to prepare a basic business plan in order to make projections into the future. You should conduct research in order to understand how the business is getting its customers. Know how it delivers goods and services. You should try to gain an understanding of the cash flow and think about how you can maintain this flow before thinking about increased profitability.

Structure and Finance

Your advisors should be able to give you a basic understanding of how the business valuation and related cash flow tie together. Make sure you examine a number of possible ways to put a transaction together in order to overcome different risks. Your legal team and accountant should provide guidance on the best way to structure the deal and finance it in order to complete the acquisition.