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Nick Simons, 18/05/2023

Launching a small business from home: How to get started 

Starting a small business from home in Ireland can be an exciting and rewarding endeavour. It offers flexibility, convenience, and the opportunity to turn your passions and skills into a profitable venture. Whether you’re looking to supplement your main income, pursue a lifelong ambition, or enjoy the freedom of being your own boss, starting a home-based business can be a fulfilling path to explore.
Setting up a small business from home follows a similar process to starting a small business in general, with a few additional considerations. Here are some steps to help you get started:

Identify your business idea:

Determine the type of business you want to start and consider your skills, interests, and market demand. Research the feasibility and potential profitability of your idea.

Write a business plan:

A business plan outlines your goals, target market, competition, marketing strategies, financial projections, and other important aspects of your business. It serves as a roadmap for your venture and can help secure funding if needed.

Conduct market research:

Identify your target market and understand their needs, preferences, and purchasing behaviour. Research your competition to identify your unique selling points and positioning in the market

Register your business:

Choose a business name and check its availability with the Companies Registration Office (CRO) in Ireland. Register your business structure, whether it’s as a sole trader, partnership, or limited company. Obtain any necessary permits or licenses for your specific industry. 

You can register your business at your home address or another address if you’d prefer to keep your home address private. Read Should you use a home address for your business for further information.

Set up your home office space:

Designate a workspace in your home that is conducive to productivity and meets any legal requirements. Consider factors like equipment, internet connectivity, storage, and privacy. 

Should you need an occasional desk in Dublin, a Workhub Dedicated Desk is an ideal solution.

Arrange your finances:

Open a separate business bank account to keep your personal and business finances separate. Set up a bookkeeping system to track your income, expenses, and taxes. Consider consulting with an accountant to ensure compliance with Irish tax regulations.

Create an online presence:

Build a professional website to showcase your products or services. Establish social media profiles and utilise digital marketing strategies to reach your target audience.

Develop a marketing strategy:

Identify effective marketing channels to promote your business. Use social media, content marketing, search engine optimisation (SEO), and other strategies to increase visibility and attract customers.

Remember to consult with relevant authorities and seek professional advice specific to your industry to ensure compliance with legal and regulatory requirements in Ireland. Good luck with your new home-based business!
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