{"id":6737,"date":"2020-07-15T17:11:56","date_gmt":"2020-07-15T16:11:56","guid":{"rendered":"https:\/\/www.sage.com\/en-ie\/blog\/?p=6737"},"modified":"2026-01-09T15:03:11","modified_gmt":"2026-01-09T15:03:11","slug":"how-to-start-a-small-business","status":"publish","type":"post","link":"https:\/\/www.sage.com\/en-ie\/blog\/how-to-start-a-small-business\/","title":{"rendered":"How to start a small business in Ireland in 2020"},"content":{"rendered":"<header class=\"entry-header has-dark-background-color entry-header--has-illustration entry-header--has-illustration--generic\">\n\t<div class=\"container\">\n\t\t<div class=\"entry-header__row row align-center\">\n\t\t\t<div class=\"col col-lg-7 col-xlg-6 entry-header__content\">\n\t\t\t\t\t\t\t<div class=\"component component-single-header\">\n\t\t\t\t\t\t\t\t\t\t<div class=\"entry-header__misc text--subtitle text--uppercase text--small\">\n\t\t\t\t\t\t\t<a href=\"https:\/\/www.sage.com\/en-ie\/blog\/category\/strategy-legal-operations\/\" class=\"entry-header__link\">Strategy, Legal &amp; Operations<\/a>\t\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t<div class=\"entry-title-wrapper\">\n\t\t\t\t\t<h1 class=\"entry-title\">\n\t\t\t\t\t\tHow to start a small business in Ireland in 2020\t\t\t\t\t<\/h1>\n\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t\t<p class=\"entry-header__description\">\n\t\t\t\t\t\t\t\t\t\t\t<\/p>\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t<\/div>\n\n\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t<\/div>\n\t<div class=\"single-post-details container\">\n\t\t<div class=\"col\">\n\t\t\t<span class=\"posted-on \"><time class=\"entry-date published\" datetime=\"2020-07-15T17:11:56+01:00\">15 July, 2020<\/time><\/span><span class=\"reading-time\"> min read<\/span>\n\t\t<button\n\t\t\ttype=\"button\"\n\t\t\tclass=\"social-share-button button button--icon button--secondary js-social-share-button\"\n\t\t\tdata-share-title=\"How to start a small business in Ireland in 2020\"\n\t\t\tdata-share-url=\"https:\/\/www.sage.com\/en-ie\/blog\/how-to-start-a-small-business\/\"\n\t\t\tdata-share-text=\"Please read this interesting article\"\n\t\t>\n\t\t\t<span class=\"social-share-button__share-label\">Share<\/span>\n\t\t\t<span class=\"social-share-button__copy-label\" hidden>Copy Link<\/span>\n\t\t\t<span class=\"social-share-button__copy-tooltip\" aria-hidden=\"true\" hidden>Copied<\/span>\n\t\t<\/button>\n\n\t\t\t\t<\/div>\n\t<\/div>\n<\/header>\n\n\n\n<div class=\"wp-block-post-author has-dark-background-color alignfull\">\n\t<div class=\"container\">\n\t\t<div class=\"col\">\n\t\t\t\t\t\t\t<div class=\"co-authors\">\n\t\t\t\t\t\n\t\t<div class=\"entry-author-wrapper\">\n\t\t\t<a class=\"entry-author\" href=\"https:\/\/www.sage.com\/en-ie\/blog\/author\/keirthomasbryant\/\">\n\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"40\" height=\"40\" src=\"https:\/\/www.sage.com\/en-ie\/blog\/wp-content\/uploads\/sites\/13\/2025\/04\/Keir-350x350.jpg\" class=\"entry-author__image\" alt=\"Keir Thomas-Bryant\" srcset=\"https:\/\/www.sage.com\/en-ie\/blog\/wp-content\/uploads\/sites\/13\/2025\/04\/Keir-350x350.jpg 350w, https:\/\/www.sage.com\/en-ie\/blog\/wp-content\/uploads\/sites\/13\/2025\/04\/Keir.jpg 600w\" sizes=\"auto, (max-width: 40px) 100vw, 40px\" \/>\t\t\t\t<span class=\"entry-author__name\">Keir Thomas-Bryant<\/span>\n\t\t\t<\/a>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t<\/div>\n<\/div>\n\n\n\n\n\n<p>There are always opportunities for new businesses. If nothing else, the coronavirus (COVID-19) disruption has given people the time and space they need to be creative and to think of new business ideas.<\/p>\n\n\n\n<p>Additionally, the unreliable employment situation is acting as inspiration for people to make the leap and go it alone.<\/p>\n\n\n\n<p>However, if you\u2019re serious about creating a business, you\u2019ll need a business plan \u2013 and lots of advice.<\/p>\n\n\n\n<p>For most people, creating a business plan is one of the hardest tasks they undertake in the early days of their business.<\/p>\n\n\n\n<p>But help is available.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"#gate-73c0a131-e4f3-485b-a6c6-62c451003a2f\">Download your free small business toolkit: a guide, business plan template and cash flow forecast template<\/a><\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-business-plan-example\">Business plan example<\/h2>\n\n\n\n<p>There are lots of business plan examples and templates online, including <a href=\"https:\/\/www.sage.com\/en-ie\/blog\/write-a-business-plan\/\">some here at Sage Advice<\/a>.<\/p>\n\n\n\n<p>These are an excellent starting point because they ask questions that simply need to be answered if you hope to attract interest in your business \u2013 and therefore get investment.<\/p>\n\n\n\n<p>What are those questions that you should answer in a <a href=\"https:\/\/www.sage.com\/en-ie\/blog\/write-a-business-plan\/\">business plan<\/a>? At a minimum, you should include the following information:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Description of your business and objectives.<\/li>\n\n\n\n<li>Your products or services and their pricing.<\/li>\n\n\n\n<li>Who you anticipate your customers to be.<\/li>\n\n\n\n<li>Who you consider your competitors.<\/li>\n\n\n\n<li>What people will be involved, in terms of staffing, existing investors, or even mentors.<\/li>\n\n\n\n<li>How you intend to make your business a success.<\/li>\n\n\n\n<li>Any key financial figures.<\/li>\n\n\n\n<li>The volume of sales you expect.<\/li>\n\n\n\n<li>Profit or loss statement projected for the first three years.<\/li>\n\n\n\n<li>The level of investment required.<\/li>\n<\/ul>\n\n\n\n<div class=\"single-cta\">\n\t<div class=\"single-cta__positioner\">\n\t\t<div class=\"single-cta__wrapper has-dark-background-color\">\n\t\t\t<div class=\"single-cta__content\">\n\t\t\t\t\t\t\t\t<h2 class=\"single-cta__title h3\">Discover the new Sage Accounting<\/h2>\n\n\t\t\t\t\t\t\t\t\t<div class=\"single-cta__description\">\n\t\t\t\t\t\t<p>Try our award-winning accounting software for small businesses and sole traders. Get paid faster, track cash flow and automate admin to free up time to focus on the work that matters most.<\/p>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a\n\t\t\t\t\t\thref=\"https:\/\/www.sage.com\/en-ie\/cp\/newtomorrows\/\"\n\t\t\t\t\t\tclass=\"single-cta__button button button--primary\"\n\t\t\t\t\t\t\t\t\t\t\t\t\tid=\"cta-id-6746\"\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tdata-button-location=\"cta_box\"\n\t\t\t\t\t\t\t\t\t\t\t>Find out more<\/a>\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<img decoding=\"async\" width=\"1215\" height=\"810\" src=\"https:\/\/www.sage.com\/en-ie\/blog\/wp-content\/uploads\/sites\/13\/2020\/07\/hero_architect-CTA-1215x810.jpg\" class=\"single-cta__image\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-ie\/blog\/wp-content\/uploads\/sites\/13\/2020\/07\/hero_architect-CTA-1215x810.jpg 1215w\" sizes=\"auto, (min-width: 48em) 33vw, 100vw\" \/>\t\t\t<\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-how-to-run-a-business\">How to run a business<\/h2>\n\n\n\n<p>You\u2019ll need to decide what kind of business you\u2019re going to create.<\/p>\n\n\n\n<p>You might want to become self-employed. Or you may want to create a limited company \u2013 something known as incorporation.<\/p>\n\n\n\n<p>There\u2019s also the possibility of a partnership, which is somewhere between the two, but is much less common because self-employment or a limited company tick most peoples\u2019 boxes.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-sole-trader\">Sole trader<\/h3>\n\n\n\n<p>This is the simplest kind of business entity, and legally it comprises just one person: yourself. Accounting is therefore equally simple. After you\u2019ve deducted tax, pay related social insurance (PRSI) and expenses, whatever\u2019s left is yours.<\/p>\n\n\n\n<p>However, as a sole trader, you\u2019re also personally liable for debts your business might create. And because it\u2019s not an incorporated business, it can\u2019t own things such as vehicles or property. You must use your own.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-limited-company\">Limited company<\/h2>\n\n\n\n<p>The benefit of a Ltd, as they\u2019re known, is immediate. It\u2019s a legal entity in itself, so can take on debts and can own things such as cars, equipment and properties.<\/p>\n\n\n\n<p>The limited company will pay you a salary and, if it\u2019s just you in the company, you\u2019ll be considered the director as well as the shareholder \u2013 so you can claim dividends (whatever the company makes after tax and outgoings) too.<\/p>\n\n\n\n<p>The downside of a limited company is increased complexity \u2013 the company will have to pay Corporation Tax, and the paperwork for a limited company can be difficult to understand, although a good accountant can help.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"#gate-73c0a131-e4f3-485b-a6c6-62c451003a2f\">Download your free small business toolkit: a guide, business plan template and cash flow forecast template<\/a><\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-getting-started-in-business\">Getting started in business<\/h2>\n\n\n\n<p>So, where you do you get started if you want to create a business?<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-step-1\">Step 1<\/h3>\n\n\n\n<p>It\u2019s wise to speak to an accountant about your plans. They can register you as self-employed, or create a company for you.<\/p>\n\n\n\n<p>Accountants have bags of experience that they\u2019re always happy to share. They can point you in the direction of free funding (and you can read our free guide too \u2013 see below).<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-step-2\">Step 2<\/h3>\n\n\n\n<p>Speak to a bank to create an account specifically for your business \u2013 even if you\u2019re planning to be a sole trader.<\/p>\n\n\n\n<p>The taxman has the legal right to examine your business accounts and if you use your own bank account it can become intrusive.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-step-3\">Step 3<\/h3>\n\n\n\n<p>Get the tools. Use <a href=\"https:\/\/www.sage.com\/en-ie\/sage-business-cloud\/accounting\/\">accounting software<\/a>. Get a good cash flow forecasting spreadsheet (see below for our free example).<\/p>\n\n\n\n<p>Using the right tools from day one will significantly reduce the amount of admin work you have to do \u2013&nbsp;and leave more time to pursue your dreams and goals.<\/p>\n\n\n\n<p>Good accounting software will issue and send invoices for you, for example \u2013 and even chase them up.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-step-4\">Step 4<\/h3>\n\n\n\n<p>Figure out where, or how, you\u2019re going to operate the business.<\/p>\n\n\n\n<p>Will you need a dedicated space, such as an office? Will you need a vehicle? What equipment and supplies will you need?<\/p>\n\n\n\n<p>Really dig down into details and be as pragmatic as possible.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-step-5\">Step 5<\/h3>\n\n\n\n<p>Set a date. When will you start your business? Well, there\u2019s no time like the present \u2013 and you should be careful not to fall into the trap of forever delaying.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-download-your-small-business-toolkit-today\">Download your small business toolkit today<\/h2>\n\n\n\n<p>Our business survival toolkit is all you need to get a business started, and to survive for the first two years. It comprises three free downloads:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Guide:<\/strong> This information-packed guide is designed to help you achieve success by addressing typical challenges encountered by small businesses in the first few years. It includes potential funding sources that all businesses need to know about.<\/li>\n\n\n\n<li><strong>Business plan template:<\/strong> This lets you update or complete your strategy for success, as outlined above. All you have to do is follow the instructions in each section, entering your own information.<\/li>\n\n\n\n<li><strong>Cash flow forecast template:<\/strong> This can be used to predict funds flowing in and out of your business over the next 12 months. This is vital, and you can use it along with the advice in our guide to address any cash shortfalls.<\/li>\n<\/ul>\n\n\n\n<div class=\"single-cta gated-content\">\n\t<div class=\"single-cta__positioner\">\n\t\t<div class=\"single-cta__wrapper has-dark-background-color\">\n\t\t\t<div class=\"single-cta__content\">\n\t\t\t\t\t\t\t\t<h2 class=\"single-cta__title h3\">Small business toolkit<\/h2>\n\n\t\t\t\t\t\t\t\t\t<div class=\"single-cta__description\">\n\t\t\t\t\t\t<p>Get your free guide, business plan template and cash flow forecast template to help you manage your business and achieve your goals.<\/p>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a\n\t\t\t\t\t\thref=\"#gate-73c0a131-e4f3-485b-a6c6-62c451003a2f\"\n\t\t\t\t\t\tclass=\"single-cta__button button button--primary\"\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t>Download your free toolkit<\/a>\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<img decoding=\"async\" width=\"1215\" height=\"810\" src=\"https:\/\/www.sage.com\/en-ie\/blog\/wp-content\/uploads\/sites\/13\/2021\/08\/YBCA_FY19_Intacct_V3_0338-1-1215x810.jpg\" class=\"single-cta__image\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-ie\/blog\/wp-content\/uploads\/sites\/13\/2021\/08\/YBCA_FY19_Intacct_V3_0338-1-1215x810.jpg 1215w\" sizes=\"auto, (min-width: 48em) 33vw, 100vw\" \/>\t\t\t<\/div>\n<\/div>\n\n\n<div class=\"single-cta\">\n\t<div class=\"single-cta__positioner\">\n\t\t<div class=\"single-cta__wrapper has-dark-background-color\">\n\t\t\t<div class=\"single-cta__content\">\n\t\t\t\t\t\t\t\t<h2 class=\"single-cta__title h3\">Subscribe to the Sage Advice newsletter<\/h2>\n\n\t\t\t\t\t\t\t\t\t<div class=\"single-cta__description\">\n\t\t\t\t\t\t<p>Join 1.5 million subscribers and get the best business admin strategies and tactics, as well as actionable advice to help your company thrive, in your inbox every month.<\/p>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a\n\t\t\t\t\t\thref=\"#gate-53abbdcc-410c-4c8c-bf97-ca5c6982eebd\"\n\t\t\t\t\t\tclass=\"single-cta__button button button--primary\"\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t>Subscribe now<\/a>\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<img decoding=\"async\" width=\"999\" height=\"666\" src=\"https:\/\/www.sage.com\/en-ie\/blog\/wp-content\/uploads\/sites\/13\/2021\/04\/z.5E3A0481_All-Uses.jpg\" class=\"single-cta__image\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-ie\/blog\/wp-content\/uploads\/sites\/13\/2021\/04\/z.5E3A0481_All-Uses.jpg 999w\" sizes=\"auto, (min-width: 48em) 33vw, 100vw\" \/>\t\t\t<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Starting a business requires research, dedication and confidence. Got a great idea but unsure where to start? Use our free small business toolkit today.<\/p>\n","protected":false},"author":280,"featured_media":6673,"menu_order":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_sage_video":false,"post_featured_image_hide":false,"footnotes":""},"categories":[161,165],"tags":[260,110,112,132],"business_type":[5],"lilypad":[],"context":[],"industry":[],"persona":[232],"imagine_tag":[178,230],"coauthors":[393],"class_list":["post-6737","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-free-guides-templates","category-strategy-legal-operations","tag-business-planning","tag-cash-flow","tag-create-business-plan","tag-start-business","business_type-small-business"],"sage_meta":{"region":"en-ie","author_name":"Keir Thomas-Bryant","featured_image":"https:\/\/www.sage.com\/en-ie\/blog\/wp-content\/uploads\/sites\/13\/2020\/04\/GettyImages-802944760_super.jpg","imagine_tags":{"178":"Accounting software","230":"Small business"}},"distributor_meta":false,"distributor_terms":false,"distributor_media":false,"distributor_original_site_name":"Sage Advice Ireland","distributor_original_site_url":"https:\/\/www.sage.com\/en-ie\/blog","push-errors":false,"_links":{"self":[{"href":"https:\/\/www.sage.com\/en-ie\/blog\/api\/wp\/v2\/posts\/6737","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.sage.com\/en-ie\/blog\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.sage.com\/en-ie\/blog\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.sage.com\/en-ie\/blog\/api\/wp\/v2\/users\/280"}],"replies":[{"embeddable":true,"href":"https:\/\/www.sage.com\/en-ie\/blog\/api\/wp\/v2\/comments?post=6737"}],"version-history":[{"count":0,"href":"https:\/\/www.sage.com\/en-ie\/blog\/api\/wp\/v2\/posts\/6737\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.sage.com\/en-ie\/blog\/api\/wp\/v2\/media\/6673"}],"wp:attachment":[{"href":"https:\/\/www.sage.com\/en-ie\/blog\/api\/wp\/v2\/media?parent=6737"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.sage.com\/en-ie\/blog\/api\/wp\/v2\/categories?post=6737"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.sage.com\/en-ie\/blog\/api\/wp\/v2\/tags?post=6737"},{"taxonomy":"business_type","embeddable":true,"href":"https:\/\/www.sage.com\/en-ie\/blog\/api\/wp\/v2\/business_type?post=6737"},{"taxonomy":"lilypad","embeddable":true,"href":"https:\/\/www.sage.com\/en-ie\/blog\/api\/wp\/v2\/lilypad?post=6737"},{"taxonomy":"context","embeddable":true,"href":"https:\/\/www.sage.com\/en-ie\/blog\/api\/wp\/v2\/context?post=6737"},{"taxonomy":"industry","embeddable":true,"href":"https:\/\/www.sage.com\/en-ie\/blog\/api\/wp\/v2\/industry?post=6737"},{"taxonomy":"persona","embeddable":true,"href":"https:\/\/www.sage.com\/en-ie\/blog\/api\/wp\/v2\/persona?post=6737"},{"taxonomy":"imagine_tag","embeddable":true,"href":"https:\/\/www.sage.com\/en-ie\/blog\/api\/wp\/v2\/imagine_tag?post=6737"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/www.sage.com\/en-ie\/blog\/api\/wp\/v2\/coauthors?post=6737"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}