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- 1. Thomas St John LLPWebActivate PROGRAMMEStart Your Own BusinessSt
- 2. Thomas St John Business ManagementAGENDAEntrepreneurship
- 4. Budgeting
- 5. Finance
- 6. Business PlanningThomas St John LLPENTREPRENEURSHIP
- 7. Thomas St John Business ManagementWebActivate ProgrammeEntrepreneurship¡°The best time to plant a tree was 20 years ago. The second best time is now.¡±- Chinese Proverb
- 8. Thomas St John Business ManagementWebActivate ProgrammeEntrepreneurshipIs becoming Self-employed for me?
- 9. What are the traits of an entrepreneur?
- 10. Do I share any of these traits?Thomas St John Business ManagementWebActivate ProgrammeEntrepreneurial TraitsAn All-rounder
- 11. Big picture focused / Unfazed by detail
- 12. Resilience or ¡°Bounce-Back-Ability¡± Ian Dowie Former Northern Ireland Footbal payer / Crystal Palace Manager
- 13. Innovative
- 14. Courage to take risks
- 15. OptimisticThomas St John LLPBUSINESS START-UP
- 16. Thomas St John Business ManagementWebActivate ProgrammeBusiness Start-Up¡°The beginning is the most important part of the work.¡±- Plato
- 17. Thomas St John Business ManagementWebActivate ProgrammeBusiness Start-UpWhich business structure?Sole trader
- 18. Partnership
- 19. Limited companyThomas St John Business ManagementWebaActivate ProgrammeBusiness Start-UpWhich business structure?Sole traderThomas St John Business ManagementWebActivate ProgrammeBusiness Start-UpWhich business structure?PartnershipThomas St John Business ManagementWebActivate ProgrammeBusiness Start-UpWhich business structure?Limited companyThomas St John Business ManagementWebActivate ProgrammeBusiness Start-UpOpening a business bank accountThe bank will want to see:A Certificate of Registration of Business NameORA Certificate of Incorporation
- 20. Thomas St John Business ManagementWebActivate ProgrammeBusiness Start-UpRegistering for TaxesWhich taxes?Income Tax
- 21. Value Added TaxThomas St John Business ManagementWebActivate ProgrammeBusiness Start-UpRegistering for TaxesWhen do I register?Income taxAs soon as you go into businessThomas St John Business ManagementWebActivate ProgrammeBusiness Start-UpRegistering for TaxesWhen do I register?VATIn the year that you think your fee income from the business will exceed €37,500Thomas St John Business ManagementWebActivate ProgrammeBusiness Start-UpRegistering for TaxesHow do I register?VAT and Income TaxUse form TR1 (TR2 for Limited companies)
- 22. Download from revenue.ieThomas St John Business ManagementWebaActivate ProgrammeBusiness Start-UpPaying TaxHow do I pay tax?VAT
- 23. Income TaxThomas St John Business ManagementWebActivate ProgrammeBusiness Start-UpPaying TaxHow do I pay tax?VAT
- 24. Pay and file
- 25. Usually every 2 monthsThomas St John Business ManagementWebActivate ProgrammeBusiness Start-UpPaying TaxHow do I pay tax?Income Tax
- 26. Pay and file
- 27. 31 October in the year following the year of assessment
- 28. Extension to mid November if filing online through ROSThomas St John Business ManagementWebActivate ProgrammeBusiness Start-UpAccounting / Book-keepingEssential records
- 29. Level of detail
- 30. Basic financial statementsThomas St John Business ManagementWebActivate ProgrammeBusiness Start-UpAccounting / Book-keepingEssential recordsSales
- 31. Receipts
- 32. Purchases
- 33. Payments
- 34. Time-recordsThomas St John Business ManagementWebActivate ProgrammeBusiness Start-UpAccounting / Book-keepingLevel of detailDate
- 36. Party involved
- 37. Amount
- 38. Net
- 39. VAT
- 40. GrossThomas St John Business ManagementWebActivate ProgrammeBusiness Start-UpAccounting / Book-keepingBasic financial statementsProfit and Loss Account
- 41. Balance SheetThomas St John Business ManagementWebActivate ProgrammeBusiness Start-UpCASH!!!!!
- 42. Thomas St John Business ManagementWebActivate ProgrammeBusiness Start-UpAccounting / Book-keepingInformation you should always know:How much is in the bank.
- 43. What you are owed by customers.
- 44. How much you owe your suppliers.Thomas St John LLPBUDGETING
- 45. Thomas St John Business ManagementWebActivate ProgrammeBudgeting¡°Success always comes when preparation meets opportunity.¡± - Henry Hartman
- 46. Thomas St John Business ManagementWebActivate ProgrammeBudgetingApproaches to budgeting:Revenue Focused Budgeting - How much will I make if I sell this amount?Cost Focused Budgeting- What are my fixed costs?- What revenue do I need to earn to cover these?
- 47. Thomas St John Business ManagementWebActivate ProgrammeBudgetingKey terms:- Turnover = Sales / Fees- Direct costs = Costs directly related to the sales you make- Gross profit = Sales ¨C Direct costs- Fixed overheads = Costs that will be incurred regardless of sales levels (e.g. Support staff, Rent, Legal costs, Accountants costs, Utilities)
- 48. Thomas St John Business ManagementWebActivate ProgrammeBudgetingUsing a budget:- Regularly compare actual costs to budgeted costs - Measure variance from budget - Take corrective action
- 49. Thomas St John LLPFINANCE
- 50. Thomas St John Business ManagementWebActivate ProgrammeFinance¡°A banker is a fellow who lends you his umbrella when the sun is shining, but wants it back the minute it begins to rain.¡± - Mark Twain
- 51. Thomas St John Business ManagementWebActivate ProgrammeFinanceTwo (maybe three) types: - Equity- Debt(- Government Support)
- 52. Thomas St John Business ManagementWebaActivate ProgrammeFinanceEquity: - Generally relies on receiving a return from business profits, and takes the risk that a business may make a loss.
- 53. Thomas St John Business ManagementWebActivate ProgrammeFinanceTypes of Equity Investments: - Seed capital (< €100,000)- Venture capital (> €100,000) - Development capital / Private equity (> €500,000)
- 54. Thomas St John Business ManagementWebActivate ProgrammeFinanceSources of Equity Investment:First round of funders: - Family and friends - Business contacts - Business angels- Government bodies: - Enterprise Ireland - County Enterprise Board
- 55. Thomas St John Business ManagementWebActivate ProgrammeFinanceSources of Equity Investment:Second Round of Funders: - All of the previous funders- Venture Capital Funds
- 56. Thomas St John Business ManagementWebActivate ProgrammeFinanceDebt: - Generally seeks a guaranteed fixed interest return at some given time in the future.
- 57. Thomas St John Business ManagementWebActivate ProgrammeFinanceTypes of Debt Finance: - Bank overdraft- Bank loan- Mortgage over personal property- Leasing- Invoice discounting
- 58. Thomas St John Business ManagementWebActivate ProgrammeFinanceSources of Debt Finances: - Family and friends- Business contacts- Bank- Credit Union
- 59. Thomas St John Business ManagementWebActivate ProgrammeFinanceTypes of Government Support:Back to Work Enterprise Allowance
- 61. PRSI holidays for employersThomas St John Business ManagementWebActivate ProgrammeFinanceTypes of Government Support:Back to Work Enterprise Allowance
- 62. Local Social Welfare Office
- 63. File out and submit form BTW 2
- 66. PRSI holidays for employersThomas St John Business ManagementWebActivate ProgrammeFinanceYOU WILL NOT RAISE A CENT UNLESS:- YOU ARE SEEN TO INVEST EQUITY YOURSELF - YOU PREPARE A REALISTIC AND COMPREHENSIVE BUSINESS PLAN
- 67. Thomas St John LLPBUSINESS PLANNING
- 68. Thomas St John Business ManagementWebActivate ProgrammeBusiness Planning¡°Victorious warriors win first then go to war. Defeated warriors go to war first then seek to win.¡±- Sun Tzu
- 69. Thomas St John Business ManagementWebActivate ProgrammeBusiness PlanningExecutive SummaryIntroduction and BackgroundOwnership, Management and EmployeesMarket and Marketing StrategyOperationsFinancialsFunding ProposalDetailed Projections
- 70. Thomas St John LLPCONTACT DETAILS
- 71. Thomas St John Business ManagementCONTACT DETAILSJim Gilmartin FCADIRECTORTHOMAS ST JOHN BUSINESS MANAGEMENT LTD60 Lower Baggot StreetDublin 2THOMAS ST JOHN LLP85 Crawford StreetLondonW1H 2HBTHOMAS ST JOHN LLC10866 Wilshire Blvd, Suite 400Los AngelesT: 01 602 4772M: 087 9484716E: jim@thomasstjohn.ie