We want to provide a quick update on a recent communication from the Revenue Commissioners which offers guidance on how interest from peer-to-peer lending should be treated for tax purposes.
People make many important choices when starting a business, such as where to locate and how much to invest. However, arguably the most important decision of all, and the one with the most sweeping consequences, is their choice of business structure.
The structure of a business affects such far-reaching issues as who will make critical decisions in the future, how much tax the business will pay, how profits and losses will be distributed among key stakeholders, and the nature of the liabilities faced by the business owners.
Whatever your sector, you have probably come across the term ‘big data’. Big data is used by a growing number of businesses to improve customer service, modify a product or service, and generally forge ahead. As an SME, you may well be wondering if it is something that’s best left to the big boys. The good news is that you needn’t hang about on the sidelines. Whatever your company size, you can use big data insights to get a better understanding of your customers - and the way they interact with your business.
It’s not always easy to make big things happen as a smaller business or start-up. Budgets are tight, resources are limited and there’s the constant challenge of trying to do more with less. This is especially true when it comes to marketing your business and achieving the kind of sustainable growth you need to compete with the big names in your industry.
The EU General Data Protection Regulation (GDPR) is set to become law on the 25th of May 2018, and will essentially replace the numerous laws on data protection with one overlying protocol. The GDPR relates to businesses of all sizes, and small to medium enterprises can benefit from preparing themselves for the changes ahead.
Owning and running your own business is one of the most fulfilling things you’ll ever do – but it comes with challenges you’d never encounter if you worked for someone else. Among the most daunting of these is that, in many cases, you’ll need to be the Managing Director, the Finance Director, the HR Director, and the Marketing Director – all rolled into one.
Digital technology is everywhere we look. The simplest of tasks, such as shopping, involves interacting with computers from start to finish. We’re all used to computer-based checkouts, digital displays and computerised car parking. Even the traffic lights on the way to the shops are controlled by computers. Little surprise so, that in the world of business, areas once managed by people have been taken over by technology.
In the business sector, it can sometimes seem as if only the corporate giants are able to take full advantage of the benefits that globalisation and technology have delivered. But in reality, there’s plenty of opportunity for SMEs that are willing to innovate.