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1. Classified telephone directories can give you a rough idea of how many potential competitors, business customers and suppliers are in your marketplace. Their listing might include a website address, which you can visit to get more information.

2. Trade directories will highlight the main issues in the industry. By going through a few back issues, you might even uncover some industry research that is useful for your business.

3. Use the internet to gather details of competitors at home or abroad, or possible sources for the supply of raw materials or goods. Some websites are more detailed than others, but you could find information on your competitors’ products/services, prices, your competitors’ distribution channels, etc. Most libraries also have internet access, which is useful if you do not have access from home.

4. Visit either your local business library or the business section of your local library. There you can read trade directories and publications and search their database of Irish newspapers/business publications for information on specific businesses or recent developments relevant to the sector that you plan to operate in.

5. Government agencies often have useful specialist information. Enterprise Ireland’s website profiles some business sectors. Visit the Economic and Social Research Institute’s (ESRI) website (www.esri.ie) for general economic information. Amárach Consulting’s website has some predictive reports on the future of the Irish economy.

6. FÁS has information and library services. Resources include a variety of Government publications including some from the Central Statistics Office, the ESRI and FÁS reports. It also has a reference collection of business directories, abstracts, etc. Various national newspapers are also available. The library and technical information service subscribes to a number of commercial databases and searches can be carried out on databases to get bibliographical references or the full text of journal articles.

7. Your local Chamber of Commerce, City/County Enterprise Board or Area Partnership may have conducted local research that could be useful.

8. College or university students produce hundreds of theses on business issues every year. A copy is kept in the college/university library. Ring the librarian and ask if you can read those in stock in your local third-level educational institution. Also, some colleges produce research papers that you may be able to access, especially if you are a past pupil of that institution.

9. Read the national newspapers every day, your provincial newspaper(s) every week and regularly tune into your local radio station. Local media will flag new residential, commercial or industrial developments in your area. The people in these developments could be part of your target market.

This article appears courtesy of AIB

This article © copyright Allied Irish Banks, p.l.c. 2010. The information does not constitute tax, legal, investment or any other advice by AIB. No representations or warranties are made as to the reliability, accuracy or completeness of the information.