Date: 25.03.2022
Author: Saoirse Bonnar
Category: Giving Back

Opening a business in Limerick? Here’s what you need to know

Are you a budding entrepreneur wanting to open a business in Limerick? The Irish city is bustling with businesses in various sectors, from coffee shops and hotels to technology stores and financial institutions. 

While doing your research on starting a business in Limerick, it’s important to consider the following details.

Market research

Before you open up your dream bakery or start offering financial advice, it’s important to research the opportunities in the market. For example, consider that Limerick is one of Ireland’s oldest cities and has a rich tradition of literature, culture, arts and music. 

Taking the time to familiarise yourself with the local market will reveal business opportunities and possible challenges to overcome.

Company registration processes

Decide whether you want to register your business as a sole trader, partnership or company. Each option comes with its own pros and cons, and the legal structure of the business will have an impact on how it grows. 

You’ll also need to decide on the business name and register the organisation for paying tax. A qualified accountant who is familiar with Irish tax requirements can be a huge help in this regard. Finalising all legal details is also part of the registration process, ensuring that your business can operate legally in Limerick.

Finances

Carve out time to plan your budget and financial goals. Perhaps you have money saved to put forward as capital to start your business, or maybe you need to get a loan from the local bank. 

It’s also worth investigating possible investment options. For example, Limerick is investing over €1 billion in enterprise and investment infrastructure as part of the Limerick 2030 Vision: An Economic and Spatial Plan for Limerick.

Staff and team 

Depending on the nature of your business, you may need a few extra hands to help streamline production and processes. For example, if you plan to open a gardening service, then you may want to hire someone to help mow the lawn and tend to the flower beds. 

Consider the amount of experience needed for the job, what qualities and traits you’re looking for, and how you will register your staff for tax and legal protection. 

Office space

Whether you plan to open an online, physical or mobile business, it’s always important to have an operational base. Your office space should be productive and convenient, helping to keep daily operations smooth and consistent. 

At StorageWise, we’re committed to helping local businesses grow. That’s why we offer business storage solutions to meet a range of needs. Our clean and secure space can be used as a workshop, a warehouse or even an office.

Our units are available in a wide range of different sizes to best suit your needs. Our lease agreements are flexible, meaning that you only pay for the amount of space that you need for as long as you need it.

Are you ready to grow your business in Limerick? Contact us at 1800 94 6666 to find out more, or book your unit today!

Get in touch

Interested in booking this service, chat to our team today.

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