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  • Small Business Finance - Information and guidance on how to finance your business.
    your business overview Grow Your Business All businesses need financing to maintain and grow The type of financing needed depends on how business plans to use it Overview Established businesses need financing to maintain the business supporting day to day activities as well as to support growth This section looks at the financing options available for day to day needs for expanding the business s capacity assets or workforce and

    Original URL path: http://www.smallbusinessfinance.ie/grow-your-business/category/overview/ (2016-02-16)
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  • Small Business Finance - Information and guidance on how to finance your business.
    stated purpose Facility the facility requested be it an overdraft loan or asset finance should reflect the stated purpose and the amount needed Repayment capacity any lender needs evidence that the borrower will be able to repay the debt both in terms of its current ability to make the regular payments required and its ability to repay the credit in full in the long term Security a bank may require the borrower to provide security in the event of failure to repay the loan This security may include property or assets Market as part of its assessment of an application for credit the bank will review the market in which a business operates to identify any positive or negative impacts it may have on the business Interest rate type different interest rate types are available for this types of financing and the choice of rate type may depend on a number of factors including how the credit will be used and the risk appetite of the customer The Banking Payments Federation Ireland BPFI has developed Standard Small Business Credit Application Guidance This is available on the BPFI website with specific guidance for credit applicants in the hotels leisure and farm business sectors The Credit Review Office which reports to the Minister for Finance has published guidance for small businesses applying for credit and has outlined the key steps in the application process These publications are available here Regulation Banks must follow a code set out by the Central Bank of Ireland in relation to lending called the Code of Conduct for Business Lending to Small and Medium Enterprises SME Code The Code addresses a range of issues related to bank lending including applications for credit A bank must inform an applicant how long the process is likely to take The

    Original URL path: http://www.smallbusinessfinance.ie/managing-your-finances/category/applying-for-credit (2016-02-16)
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  • Small Business Finance - Information and guidance on how to finance your business.
    cookies To find out more about cookies and how we use them please read our privacy policy here Small Business Finance About Us Contact Us FAQs Tools Downloads Business Start Ups Day to Day Needs Invest Grow Innovate Grow International Business Managing Finances Home start your own business government Overview Setting Up a Bank Account Business Finance Options Overview Equity Credit Overview Credit Options Government Supports Overview EU Funding Managing

    Original URL path: http://www.smallbusinessfinance.ie/start-your-own-business/category/government (2016-02-16)
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  • Small Business Finance - Information and guidance on how to finance your business.
    Incentive Schemes The Employment and Investment Incentive EII and the Seed Capital Scheme SCS are tax incentive schemes designed to encourage investment in businesses The EII which replaced the Business Expansion Scheme BES in 2012 provides tax relief for investors in companies involved in certain corporate trades while the SCS provides for a refund of income tax already paid by an individual when that individual sets up and takes employment in a new qualifying business Both schemes qualify as State aid and are subject to certain restrictions The SCS is intended for those who are or were in PAYE type employment To be eligible the entrepreneur must enter into a full time employment contract for at least one year with the company as an employee or a director and he or she must acquire at least 15 of the issued share capital of the company The EII allows a qualifying individual who makes a qualifying investment up to a maximum 150 000 for any one year in a qualifying company to avail of income tax relief The investor can initially avail of income tax relief of 30 on the cost of the investment from their total income in the year of the investment If after a three year holding period the company has increased either its number of employees or its expenditure on research and development a further relief of 11 of the cost of the investment will be allowed taking the total relief to 41 The relief may be carried forward to future years if the investor cannot take the full deduction to which they are entitled in any one year The relief is currently scheduled to end in 2013 Both schemes apply only to certain qualifying trading operations and some of these must be certified by relevant development agencies or government departments Full details relating to the investment the company and the qualifying activities of the company are available on Revenue s website here Business Angels Business angels are private individuals who invest relatively small amounts of money in new businesses in return for a share in a start up or early stage business and also contribute their expertise in business management and their personal network of contacts They may invest on an individual basis or as part of business angel syndicates Individual business angels typically invest between 20 000 and 250 000 according to the EBAN the European trade association for business angels seed funds and other early stage investors Two organisations in Ireland seek to match business angels with businesses needing investment the Halo Business Angel Partnership is a joint initiative between Enterprise Ireland InterTradeIreland and the Irish Business and Innovation Centres which is managed by Dublin Business Innovation Centre Limited the Halo Business Angel Network HBAN is joint initiative of Enterprise Ireland and InterTradeIreland which is aimed at developing angel investor syndicates across the island of Ireland Venture Capital Venture capital is private equity provided by professional investment firms Venture capital firms generally look for

    Original URL path: http://www.smallbusinessfinance.ie/grow-your-business/category/equity (2016-02-16)
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  • Small Business Finance - Information and guidance on how to finance your business.
    Innovate Grow International Business Managing Finances Home grow your business credit overview Credit Overview To help minimise their exposure to potential credit losses businesses should have clear credit management policies in place Credit Overview Credit Policy Management Much of the focus in terms of business cashflow is on getting paid by customers and dealing with late payments or non payment To help minimise their exposure to potential credit losses businesses should have clear credit management policies in place with the necessary systems and documentation and put them into practice A good credit management policy has six foundations Knowing your customer Clear payment terms and credit limits Invoicing for payment Working capital finance Addressing non payment and bad debts Treating customers fairly For more information on managing your credit policy please visit the Managing Credit Policy section here Working Capital Finance Working capital finance options include overdrafts and invoice discounting Some lenders also provide financing options that enable businesses to spread major payments over a longer period For more information on working capital finance options please click here Financing International Trade There are a range of trade financing and payment options available to businesses For more information please visit the International

    Original URL path: http://www.smallbusinessfinance.ie/grow-your-business/category/credit-overview (2016-02-16)
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  • Small Business Finance - Information and guidance on how to finance your business.
    can only survive in the long run if the money it gets in is greater than the money it pays out Managing Cash A business can only survive in the long run if the money it gets in is greater than the money it pays out Businesses need to make profits to stay in business but many businesses can cope with short periods during which their expenses are greater than their income No business can survive without cash Businesses should focus on four key areas to ensure that they have enough money to meet their current and future needs debtors suppliers stocks and costs Debtor management encourage payments up front by accepting cards or offering discounts set credit limits use internet banking to monitor payments into your account Supplier management shop around for suppliers check supplier terms and conditions thoroughly e g return policy credit terms use electronic payments such as electronic funds transfers and internet banking rather than cheques Stock management measure and track the cost of carrying stock e g insurance and premises track supplies production and sales to maintain the right amount of stock sell off slow moving or outdated stock Cost management identify the key costs

    Original URL path: http://www.smallbusinessfinance.ie/managing-your-finances/category/managing-cash (2016-02-16)
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  • Small Business Finance - Information and guidance on how to finance your business.
    about cookies and how we use them please read our privacy policy here Small Business Finance About Us Contact Us FAQs Tools Downloads Business Start Ups Day to Day Needs Invest Grow Innovate Grow International Business Managing Finances Home managing your finances financial management Overview Managing Cash Managing Payments Managing Credit Overview Bank Credit Applying for Credit Government Credit Initiatives Agri Finance Social Finance Managing Credit Policy Financial Planning Dealing

    Original URL path: http://www.smallbusinessfinance.ie/managing-your-finances/category/financial-management (2016-02-16)
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  • Small Business Finance - Information and guidance on how to finance your business.
    blog government publishes action plan for jobs 2015 Government publishes Action Plan for Jobs 2015 The government s latest Actions Plan for Jobs includes a number of actions relating to business finance including Implementation of the Strategic Banking Corporation of Ireland SBCI Business Plan for SME lending over the course of 2015 including first lending to SMEs and roll out of products in Q1 2015 bringing new non bank lenders to the market in Q2 Q3 2015 and bringing a pipeline of other banks and non bank lenders on board by Q4 2015 and beyond The Department of Finance and the Department of Jobs Enterprise and Innovation will roll out an integrated export finance strategy in 2015 with financing products and platforms being developed by the SBCI and the Ireland Strategic Investment Fund ISIF in conjunction with Enterprise Ireland Following the passing of the appropriate primary legislation implement and promote the new Credit Guarantee Scheme Implement the recommendations of the review of the Microenterprise Loan Fund Scheme Visit the Department of Jobs Enterprise Innovations s website here for more details Contact Us Frequently Asked Questions Tools Downloads Privacy Disclaimer Terms Conditions Latest Updates Sponsors Useful Links BASIS http www basis

    Original URL path: http://www.smallbusinessfinance.ie/blog/government-publishes-action-plan-for-jobs-2015 (2016-02-16)
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