15 Findings on What Matters Most to Businesses By Seamus Parfrey
The American Guardian Life Small Business Research Institute in June 2010 indicated, based on a survey of over 1100 small businesses, that what matters the most to small business owners are the following:
It would be a useful exercise to decide on what matters most to you and share it with your staff.
- Customers who appreciate what we do
- Keeping the customers we have from leaving
- My employees
- Keeping customers happy
- Whatever matters most to our customers is what matters most to us
- Being able to make my own decisions
- Finding some way to be noticeably different from competitors
- Quality of my staff
- Setting my business apart from our competitors
- Figuring out ways to take advantage of any economic condition
- Creating a positive working environment for all
- Giving our employees reasons to feel better about being part of our team
- Being able to have the satisfaction of creating something of value
- Doing something for a living that I love to do
Feel free to call Seamus Parfrey on 021-4310266 to discuss what matters most to your business.
10 Ways to Increase Your Profit by Noel Murphy
For all those in business "profit" is the reward for the endeavours put into the operation. However, many businesses have suffered during difficult times and businesses which had previously been producing good profits have run into difficulties and sustained losses. How, therefore, may profit be increased?
Ensure that you know your market and are technically able in all aspects of the business.
Ensure that your product knowledge is complete and your service of high quality.
Ensure that sales are maximised, taking advantage of cost-effective means to increase sales - advertising, recommendations, promotions, leaflets.
Be wary of reducing prices to obtain increased sales or an increase in work. The danger is that gross profit is reduced and this reduction in gross profit is not matched by an increase in the gross profit arising as a result of the increased volume of work or sales.
5. Direct costs
Ensure that your direct costs are kept to an absolute minimum. This may well involve looking carefully at the rate charged by your suppliers, compared with those from your competitors.
Before changing your supplier, consider the service that you are receiving and whether or not this will deteriorate if the supplier is changed.
The objective of the above is to expand sales income while controlling and, if possible, reducing direct costs so as to produce an overall increase in gross profit.
Residence, Ordinary Residence and Domicile by Una Beecher
The extent of an individual’s liability to Irish income tax depends on:
- whether he/she is tax resident in Ireland;
- whether he/she is ordinarily tax resident in Ireland; and
- whether he/she is domiciled in Ireland.
It is important to note that these are specific tax concepts.
An individual is regarded as resident in Ireland if he is present in the State for 183 days in that income tax year, i.e. from 1st January to the following 31st December. This is known as the ‘183 day rule’.
Alternatively, an individual is regarded as resident here if he spends 280 days or more in Ireland in aggregate in that income tax year and the preceding income tax year. This is known as the ‘280 day rule’.
An individual will not be regarded as resident in an income tax year in which he spends a period in the whole amounting to 30 days or less in the State and no account shall be taken of such a period for the purpose of the 280 day test.
In determining days present in Ireland, an individual is deemed to be present if he is in the country at any time during the day.
An individual becomes ordinarily resident in Ireland if she has been tax resident here for each of the three immediately preceding tax years.
Once a person becomes ordinarily resident, she will continue to be ordinarily resident here until she has been non-resident for three consecutive income tax years.
Deadlines and reminders by Sinead Herlihy
Tax Deadlines - October
1 - 21 October
- Preliminary Tax for acccounting periods ending between 1 - 30 November 2012
- First instalment of preliminary tax for "Large Companies" with a financial year ending between 1 - 30 April 2013
- Returns for accounting periods ending between 1 - 31 January 2012
- Pay balance of tax due on accounting periods ending between 1 - 31 January 2012
- Returns of third party information for accounting periods ending between 1 - 31 January 2012
- PAYE / PRSI - P30 monthly return and payment for September 2012
- Dividend witholding tax return and payment for September 2012
- RCT - Return and payment for September 2012
Note: Where returns and payments are made electronically, the return and payment deadlines are the 23rd day of the month.
- Income Tax return and payment for 1 January 2011 to 31 December 2011
- Capital Gains Tax return of capital gains for 2011