Advice for start-ups from AIB
David Roberts of AIB provides advice for start-ups.
AIB is the leading business bank in Ireland according to TMS MRBI research October 2009. Over the years, by listening to its customers, it has gained practical insights into how to help businesses from start-up stage right through to expansion. Allied Irish Banks, p.l.c. is regulated by the Financial Regulator.
The first step you will need to take is to research your business idea thoroughly. What should you research? The following is a comprehensive list of core areas that you need to cover as part of your feasibility study, from researching your product/service offering, identifying your customer base and ascertaining your competitors to sourcing suppliers and deciding on your pricing strategy.
Libraries and Government agencies are useful ports of call when carrying out research before starting your business, as are directories, while the internet is also a valuable source of information.
When you start your own business, you must choose the business structure you will operate as, be it as a sole trader, a partnership or as a company. The following article covers the requirements when setting up each type of business structure.
Preparing a business plan is one of the most important tasks when starting a new business. A business plan is a written document that describes a business, its objectives, strategies, the market it operates in and realistic financial forecasts.
The business plan is intended to generate discussion and considerations of the more important issues to be taken into account when starting and running a business. The business plan is designed to give you a framework to develop your business ideas.

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