Abacus Accounting can help guide you through the process of setting up a business and you can benefit from our experience. When you are setting up a business for the first time you need to address a number of issues such as viability, funding and trading format. To establish if your business is viable Abacus Accounting will conduct two tests on the your proposed business.
Test #1 Reasonableness Test
This test will identify if there is a market for your product or service and also if the overall plan makes sense.
Test #2 Economic Test
This test will establish if the finances of the business are credible, identify the break even position and consider the best and worst case scenarios.
The next issue to consider is the funding for your new business. Abacus Accounting can assist you identifying the level of funding requirement and also explore the sources of funding available to you. One of the main contributing factors for business failure is under funding of a business at the set up stage, we can help you avoid this pitfall.
The final issue to review is the trading format of your business. You need to decide which is the most beneficial trading format to adopt, sole trader, partnership or limited company. Each trading format has advantages and disadvantages. It is important for the entrepreneur to give careful consideration to issues concerning the trading format of their new business. We can help you in this decision making process.
Abacus Accounting deals with many business sectors and you can benefit from our extensive experience. We will deal with the red tape of setting up your business so you can start your business with minimum fuss.
To discuss your new business further, please contact us at your earliest convenience:
Email: info@abacusaccountingservices.ie | Phone: 01 – 811 95 04 | Mobile: 087 – 638 76 43
Address: Abacus House, Blanchardstown Village , Dublin 15
