At the end of March 2023, the OGP (Office of Government Procurement) published Circular 05/2023 : Initiatives to assist SMEs in Public Procurement. The Circular, designed to foster SMEs participation in public procurement contracts, increases the thresholds for advertising on eTenders to €50,000 for Goods & Services and to €200,000 for Works – both thresholds…
The UK left the EU on 31st January 2020 with a 12 month withdrawal agreement which concluded on 1st January 2021. From October to December 2020, on behalf of LEO Mayo I engaged with 40 owner-managers about the potential impact of Brexit on their business and how they are preparing for the UK’s exit from…
If you have ever wondered what supports that you and your startup business could and should apply for, read on:
This blogpost and the accompanying presentation will categorise the supports depending on the stage of development of your startup company: pre-enterprise; early stage; and established startup
Peer to peer (P2P) lending, also known as crowdlending, involves applying to a platform for a loan which then offers it out to its members who collectively fund the loan. It would not be unusual for €200,000 to be funded by up to 800 bidders. Online Peer to peer finance providers like Flender and Linked…
Enterprise Ireland launched the Pre-Seed Start Fund in October 2022 effectively replacing the highly successful Competitive Start Fund (CSF). The Pre Seed Fund provides funding of €100,000 – former recipients of CSF can apply for €50,000. Over the years, CSF has been tweaked and this latest change resulted in a new name along with increased…
I am delighted to published my 7th online training programme. This will be my second one focusing on Financial Projections. It is called ‘Creating Financial Projections for your SaaS business‘. It is aimed at owners and senior team members who are bringing a SaaS product to market. The Excel template will facilitate you to create…
I have said for years that the best investor ready business plan preparation guide is the Business Cube Methodology published by InterTrade Ireland the organisors of the SeedCorn Investor Readiness Competition. So I was delighted to see that a modernised edition, now referred to as Business Cube, has been published in 2019. It is a…
I am delighted to announce that I have published an online training programme called ‘Creating Financial Projections for a Local Business‘. One year access is €50 including VAT. This ONE HOUR online programme is for you if: You a startup promoter or small business owner who needs to create financial projections for your business to…
I am not an accountant but I do my own accounts. I also work with clients on financial projections for their business plans. Finance is at the core of business and marketing. Cashflow is the core of finances. I have published an online course ‘Creating Financial Projections for a Local Business‘. A bonus module was…
I recently wrote two blog post articles for InspiredStartups.com with advice for startup promoters in terms of completing their application for Enterprise Ireland’s CSF. This short article outlines the key themes addressed by each post. What is the Competitive Start Fund? The Competitive Start Fund (CSF) is undoubtedly a significant component of Enterprise Ireland’s suite…
In March 2015, I volunteered to become a joint Co-ordinator along with Conor O’Donovan of the Galway Startup Businesses Meetup which is now a subgroup of Startup Galway and rebranded as Startup Galway Pitches Meetup. The idea of the group is to provide a forum for early stage startups to network with their peers, with…
As you may know, I am a member of the SCCUL Mentors programme. This provides pro bono mentoring for small business in the greater Galway area. Managed by Ballybane Enterprise Centre, the SCCUL Awards is the undoubted highlight event of the year, while the Centre also hosts regular seminars on topics of interest to local…
Managing a startup business is NOT easy. Startup entrepreneurs have lots of balls in the air. Lean Startup books, theory and practice are brilliant but the question is which model or framework do you follow and when – and are they all relevant to an Irish startup situation? To address this dilemma Donncha devised the…
I am often asked by startup entrepreneurs what makes a High Potential Startup Company or HPSU? as defined by Enterprise Ireland. While answering this question, I am struck by the fact that I am never asked the follow up question which I have often pondered myself: So how do the companies who are selected as…
I am often asked what text should be included in an investor-ready business plan under the section ‘Exit Strategy’. This is to answer the question for the investor, ‘How will we get our money back’. My general view on Exit Strategy is that it is a very difficult issue to answer properly because it is…
2019 update: I have written two blog posts on Crowdfunding. This one was written in early 2014 following a feature on Today FM on The Sunday Business Show. The original article is presented below. I wrote a separate blogpost in 2019 for the New Frontiers blog which featured a YouTube video interview with Derek O’Sullivan…
Today, I made a modest financial contribution as part of a Crowdfunding campaign to MediStori and I would ask everyone who reads this to seriously consider supporting this campaign – by making a contribution directly or telling someone else who would benefit from the product. The promoter is looking to raise €50,000 in the next…
In my most recent post I stated that I firmly believe that knowledge of finance is a fundamental requirement for every small business promoter. This is part two of two blogposts on Finance for Startups. The first post detailed my ten top finance related tips for startups while this post will now look at financing…
I believe that knowledge of finance to include: an ability to understand and communicate your financial model; cost structure; revenue streams and route to markets; is a fundamental requirement for every small business promoter. This is a two part blogpost on Finance for Startups. The first post will detail ten things I have learned about…
Six factors critical in formulating your approach to tendering in Ireland are discussed in this blogpost. It is critical to select your tenders carefully, read the tender invitation carefully and structure your submission to demonstrate that you meet all the requirements of the tender.