Returning to Ireland and Starting a Business

Ompl

So I'm just looking for some advice or tips people might have with regards moving home and starting your own company.

I'm excited about moving home and even more excited about jumping in and giving it my best shot at building a successful company.
But I worry alot about the initial start-up phase.
I don't expect to start making a livable wage until I get established and gather a few customers, which I expect could take the first 8 to 12 months.
As I plan on using my savings (keeping an emergency fund ofcourse) to start the company and to acquire things such as a company van, tools and create a website, I wonder if there is any funding I can avail of to help with these start-up costs?

I have looked at the Enterprise Ireland website, but my understanding is they do not offer funding to a sole proprietorship. I'm also guessing claiming social welfare such as JSA isn't an option in this case.

I would really appreciate any help or advice you may have with how to overcome the initial costs of starting a business as a returning emigrant.

antoinolachtnai

What you need to look up is the 'Local Enterprise Office'. The type of business you have in mind (non export) is not really what Enterprise Ireland has in mind.

I'd be worried that you don't have any contacts in Ireland to lead to work. This is the most important thing. If you work in something allied to the building trade, you will probably get work to start with, but you have to be careful that you don't make yourself vulnerable to any economic downturn.

There is so much else to consider, for example, costs and pricing. Very hard to do without being here.

If there is a 'start your own business' course you could do in the country you live in now, that might be a good idea.

I would seriously consider contracting or subcontracting when you get here first, rather than starting out on your own, day one.

ironclaw

I'd agree with antoinolachtnai's points and further note that Ireland is expensive to both live and run a business in. You will need good financial reserves to keep your runway long enough. Ireland also has unique market trends so depending on where you are returning from and what your aim is (B2B or B2C) you may find yourself on a winner or completely incompatible with the market.

Can you talk more about what your idea/business is? You'll get more tailored advice that way.

enricoh

If you are on the dole you get to keep your dole on a sliding scale for a few years if you go self employed. No tax to pay for a couple of years and a grant towards equipment.
It's a serious leg up when starting out. A mate of mine got it a few years ago n I couldn't believe the financial assistance.
I'll get slated for saying it but I'd be coming home, signing on n fixing up the parents house til u qualify.

ednwireland

Ompl wrote: »

I have looked at the Enterprise Ireland website, but my understanding is they do not offer funding to a sole proprietorship. I'm also guessing claiming social welfare such as JSA isn't an option in this case.

I would really appreciate any help or advice you may have with how to overcome the initial costs of starting a business as a returning emigrant.

try the local enterprise office https://www.localenterprise.ie/ they are more in line with sole traders or small businesses.

if nothing esle you may be able to avail of some of there courses