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Irish Trade Mission to Moscow

Ulster Bank often works with Enterprise Ireland in their efforts to assist Irish companies in the SME sector develop their export business. We do this in many ways, some recent examples involved speaking at their Funding for Growth seminars, joint hosting of events on doing business is a variety of markets and travelling on Trade Missions with Enterprise Ireland and their clients to key business markets. Recently Gerry Ennis, Head of Trade […]

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CPA Ireland launches the Business Tracker App

CPA Ireland has launched a new finance app for business owners, enabling them to track the performance of their company through a series of financial ratios. The CPA Ireland Business Tracker App, developed in association with CPA Ireland Skillnet, calculates financial ratios to give the user a clear overview of the position of their business in relation to profitability, liquidity, asset utilisation, gearing and market value. Financial ratios are one […]

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‘Love Money’ need not be unrequited

The recent report from DCU’s Ryan Academy on Love Money (i.e. informal investment in small businesses by family and friends) garnered much attention from the media. According to the report, a whopping €275 million was invested in this way in 2011. For every €1 formally invested by venture capital funds, €5 was informally invested by friends and family. One point which may have been missed is that the love need […]

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Excellence in credit management

Ulster Bank Invoice Finance has sponsored The Trade Credit Manager of the Year Award at the Irish Institute of Credit Management Annual Awards which took place in the Conrad Hotel, Dublin on 23rd November 2012. Having reviewed an exceptionally large number of high quality nominations, The IICM Fellows Committee selected Louise Farrell, Company Credit Controller at Atlas Copco (Ireland) Limited as The Trade Credit Manager of the Year. Eddie Brown, […]

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Enterprise Ireland launches €500,000 fund for female entrepreneurs

A new €500,000 start-up fund for female entrepreneurs has been launched by Enterprise Ireland. Details of the Competitive Start Fund for Female Entrepreneurs, which is aimed at stimulating high potential female-led business start-ups, were announced today by Minister for Jobs, Enterprise and Innovation, Mr Richard Bruton TD. The initiative is part of a drive by Enterprise Ireland to boost the number of innovative, export-oriented businesses being set up and led […]

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Silicon Valley Bank to invest in Irish start-ups

Silicon Valley Bank specialises in finance banking for IT, life sciences and so-called clean technology.  The bank has branches worldwide in Israel, India, China and now in the UK for whom they have been doing business with since 2004 through an affiliate. Ireland has now crept within their radar, SVB sighting Ireland as ‘clean and green’ has proposed future investment in the Small Enterprise Market, with the development of companies […]

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Getting paid on time

For any business these days, it’s a familiar scenario: You win the business, submit the invoice, wait 30 days and then – nothing. Your staff and creditors expect to get paid on time, so is there anything you can do?  Here’s a methodology that may help you speed up delivery of payment of your invoices, and avoid hassle with your clients. Define Your Terms Define your terms and conditions It’s […]

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Downloadable Excel Financial Spreadsheets

  Here’s 8 pretty fundamental financial spreadsheets that every small business needs to have. All are in excel. All are templates and all are downloadable.   This spreadsheet will help you to prepare a projected profit and loss account as part of your Operating Budget, in a format suitable for inclusion in your Business Plan. Download the Operating Budget Profit and Loss spreadsheet. This spreadsheet will help you to record and […]

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Business grants: The 10 Commandments

To be forewarned is to be forearmed. When it comes to the whole business of applying for a grant with one of the agencies such as County Enterprise Board, Enterprise Ireland, LEADER companies, there are few ‘rules’  that generally apply. I talk about them here: 1. Not all Grants have been Created Equal When you are lucky enough to be the type of business that qualifies for a grant under […]

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Assessment of the proposition

Writing business plans, persuasion documents, loan submissions, tenders…are a hard slog. Hours of blood, sweat and tears. When you finally get your work of art finished and before you submit, do yourself a favour – ask an outsider, an expert, a potential client to review what you have created. Urge them to rip it apart and tear it to shreds. All with the intent of making the plan as good […]

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90 Million available?

Over €90million in additional lending to 5,500 micro-enterprises will be made available under a Government scheme which is expected to create 7,700 jobs over 10 years, the Minister for Jobs, Enterprise and Innovation Richard Bruton TD announced  last week. Minister Bruton was speaking as the Microenterprise Loan Fund Bill was published following Government decision last Tuesday The Microenterprise Loan Fund Scheme, which is expected to be operational from early autumn, […]

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Managing your cash flow

Controlling debt is a key part of income control. Customers should be sent reminders in advance of the due date of payment. Payment by direct debit and credit card will also help cash flow. Do however check the creditworthiness of new customers and review the credit limit and terms of late payers. If you are unsure of any new customers, take the money up front. Cash flow forecasting Cash outflow […]

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Accountants on cashflow

Managing your cash flow is the single most important factor in surviving in business. It is one of the major challenges to arise out of the current economic climate for almost every business owner. Assets need to be evaluated, liabilities assessed and all income and expenditure items should be critiqued line by line. Businesses need to focus activities in those areas where they are competitive and ensure that they ‘sweat […]

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Looking to Raise Money for your Company?

With bank finance still exceptionally hard to secure, two of the most common queries we are hearing at the moment are how to raise finance and how to make investing in your own business tax efficient. One area that deserves more attention is the tax incentives available to investors. Until recently, it was very difficult for a company to qualify under the various schemes available. In order to encourage investment […]

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Difference between vanity and sanity

When times are tough the need for accurate information on profitability, margins & cash flow is vital. Owners/managers need to know how the overall business and each section is performing, which products are making money and need to identify any inefficiencies and poorly performing activities/products/services. Traditional accounting measures are insufficient to track how a company is moving towards its strategic objectives and towards survival in these extremely turbulent times. This […]

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