Location
Local Enterprise Office, Donegal
Date
9 May 2015, two evenings a week for six weeks (Mondays and Wednesdays)
Of Interest to:
Business owners
Cost
€100
Information
This programme is aimed at people thinking of starting their own business or in the early stages of start-up who can demonstrate that they have a well researched business idea that they are capable of commercialising.
Objectives:
On successful completion of the programme participants should have a sound knowledge of the rudiments of business start-up, have developed a business plan and be in a position to go about their start-up in an effective way.
Content:
Small Business
The opening section of the training programme will introduce the participants to the idea of starting a small business. It will explore the characteristics of small businesses and will discuss the principal skills needed to start‐up and run a business. Real‐life case studies of small businesses will be presented to the participants.
Business Skills for Small Business
This will incorporate a questionnaire, designed to explore many of the issues and technical skills required for setting‐up a business, e.g. financial skills, personnel management, marketing and time management.
Business Planning
This introduces the role of Business Planning, an issue which will form an integral part of the overall course. A template for a business plan will be provided to each participant and this will be discussed during the opening section of the module. Each participant will have developed the tools and understanding to prepare a Business Plan by the end of the course. This section will also discuss methods of assessing the feasibility of new ideas through initial market research, developing import and export markets, financial projections, breakeven analysis and possible sources of finance. The topics discussed in this section will be reviewed throughout the programme.
Marketing
The aim of this topic is to introduce the participants to the principles of marketing for small businesses. Examples of some of the items to be addressed include the following:
- Understanding what marketing means and market research entails
- How to identify and analyse my target market and customers
- Customer service skills
- Identify the benefits of my product or service
- Using ICT, social media and networking techniques
This is a very practical session, at the end of which, the participants will have the roots of a marketing plan, which will be re‐visited at various times during the remainder of the training programme.
Legal Structure and Insurance
This section will explain the process of establishing a small business and project. It will include a review of the different legal structures available and the advantages and disadvantages of each. The participants will be brought through an exercise showing how to establish a sole trader and limited company and decide on the most appropriate structure to their needs.
This section will also discuss business insurance requirements and costs, including a description of the various types of insurance, e.g. public liability, property, professional indemnity, employer’s liability, etc.
Registering Your Business
This section will provide practical working examples on topics such as:
- Registering trademarks, designs and copyright
- Registering a business name
- Opening a bank account
- Notifying relevant agencies and networks on a
- local and regional basis
- Registering with revenue.
Financial Management
The first part of this section will discuss the capital and operating costs, identified during the Business Planning session. The operating costs will be used to develop costing policies and break‐even points for the proposed enterprise.
Personal and Time Management
This topic provides an open discussion on how to manage the personal issues arising from running a small business ‐ ensuring the most efficient use of time and establishing a healthy balance between working and personal life. The items to be discussed will include the following, e.g., reviewing your enterprise and personal schedule, prioritising, delegating, eliminating the urgent, prioritising roles, setting and sticking to boundaries.
Sources of Finance
This section will describe the various sources of finance available to small businesss and projects. This will include a practical example of completing funding application forms for a community project. It will include the following topics:
- Introduction to funding for small business
- Other sources of enterprise finance
- Introduction to the funding application process, including a description of the criteria applicable to each of the main funding agencies.
- Importance of fundraising and own funds
- Sources of finance, e.g. banks and equity
- Approaching and talking to your bank
- Matching capital and operational costs with the right source of finance
Employing People
This section will discuss the steps involved in employing people, including the following topics:
- Registration as an employer
- Employers’ PRSI
- Income Tax
- Employment schemes and their benefit to businesses
- Employment rights and responsibilities
More Information
For more information on this event and your Local Enterprise Office, click here.