BUSINESS NEWSLETTER - APRIL 2014 Did you Know that Commercial Rates were reduced by 4.8% over the past 5 years? This reflects my input to Dublin City Council budget consultative meetings in the past 5 years.
Commercial rates Commercial rates are a big cost for your business. Have you checked what space you are paying for? Is the rateable value in line with the market? If you occupy business premises, generally you have to pay rates. Commercial rates are a tax based on the rateable value of the property, reflecting its rental value. The rateable value can be challenged. It may change if the premises are altered. The Valuation Office assesses the rateable value of all relevant properties in Ireland and publishes a rating list for each council. The rating list can be seen at the office of the Valuation Office at Irish Life Mall, Abbey Street Lower, Dublin 1 or online at www.valoff.ie. You can get a copy from Dublin City Council. Most business premises are assessed for rates and have a rateable value. However the following are exempt from commercial rates: u Living accommodation u Premises occupied by the State and charities. 2 factors make up your commercial rates: Rateable Value of your property X Annual Rates Multiplier (ARV) = Rates
Timing You get a rate demand from Dublin City Council around February each year. Dublin City Council accepts 2 half payments, one in February and one in July, equal direct debit monthly payments or standing orders. Rating legislation is very complex and the best advice is to consult the professional - your chartered surveyor - at the earliest possible stage in the process. To appeal a valuation, you can make 2 appeals to the Valuation Office and one to the Valuation Tribunal, an independent body. There is also a further appeal to the Courts but only on a point of law. If a property is empty then you get a 50% refund. To qualify, premises must be vacant for one of the following reasons. Appropriate proof of Vacancy must be submitted before any claim can be considered.
/Ruairi McGinley E: firstname.lastname@example.org
(a) (b) (c)
Vacant for letting - evidence must be produced showing efforts to let Vacant for repairs or alterations-a certificate from Contractors / Architect Held vacant pending demolition/re-development-a certificate from a Contractor/Architect
Cut your energy bill by 20% SEAI (Sustainable Energy Authority of Ireland) provides free services to businesses to cut their energy use and save money. 1.) Assessment, Mentoring and Advice service: SEAI provides a consultant from a panel to do a structured review for a company 2 to 2. 5 days over the course of three months. 2.) Training courses on energy management 3.) Financial Assistance - tax incentives available through Accelerated 4.) Capital Allowance (ACA) scheme - visit www. seai/aca, grants available to put in alternative heat technologies. Visit www.seai.ie/ reheat Contact SEAI business Phone 01 808 2087 Email: email@example.com Web www.seai.ie/business
Start & Grow Your Own Business Free lecture series April - May & September - October 2014 Business Information Centre, Central Library, ILAC Centre April 24th 6.30pm Ethic Minority Entrepreneurship what supports are available May 1st 6.30pm Digital Marketing Strategy Learn the tips and tricks May 8th 6.30pm Financing Your Business what you can expect from the bank May 15th 6.30pm Writing the Winning Business Plan Reserve a place: Phone 01 873 3996 Email firstname.lastname@example.org
T: 086 830 11 11
Business Support Unit The City Council’s Economic Development Unit through the implementation of a series of measures aims to facilitate economic activity in the City. The development of a Business Support Unit is one such initiative being undertaken. The Council recognises the importance of the role that business plays in the economy and is committed to it. The City Council through the delivery of its many key activities assists businesses on a daily basis and is now establishing a Business Support Unit (BSU) that will further enhance this service. The unit which is an is an initiative of the Economic Development Department will provide information on, and co-ordinate access to the range of Dublin City Council services that are required for setting up or growing a business.
Dublin City Council Services u u u u u u u u u u u
Apply for Planning Permission Development Contributions Commercial Rates Water Rates Building and Fire Safety Regulations Petroleum Licencing Fat, Oil & Grease (FOG) Licence Street Table and Chairs Licence Events Licence Casual Trading Licence Conference Venue
Dublin City 4 Business Dublin City 4 Business is a free online search tool provided by Dublin City Council aimed at local businesses and commercial organisations. The service allows you to quickly find information on relevant sources of funding, grants and loans available to help your business’s growth and development. Dublin City 4 business allows you to search for: u Grants u Loans u Tax Relief u Venture Capital u Awards for ICT u Business Development u Tourism & Heritage u Training to name only a few!
This directory contains full details of over 300 sources of funding including; European, National, Local, Government, Lottery and Trust Funding as well as funding and support available exclusively to businesses in the Dublin City Area provided by Dublin City Council.
Guide To Enterprise in Dublin City A Guide to Starting your Business. The unit also provides a referral service to other business support agencies and to this end the Economic Development Department in cooperation with the City Enterprise Board, has launched a ‘Guide To Enterprise in Dublin City’. The Guide is a comprehensive compilation of advice and information, including a directory of services and is accessible online .
Microfinance Ireland Microfinance Ireland (MFI) was set up to deliver the Government’s Microenterprise loan fund. MFI provides funding for startup, newly established or growing small businesses whose commercially viable funding proposals don’t meet conventional risk criteria applied by commercial banks. It has provided over €3 million in loans to 200 small owner managed businesses. The average loan size is €16,000 which is repaid over 3 or 5 years. The application process is simpler than the norm and may involve a meeting with a MFI lender or a Dublin City Enterprise Board official. Over 60% of applications in 2014 are getting approved. All proposals are considered regardless of the fact that the business owner may have had credit issues. Microfinance Ireland, Jefferson House, Eglinton Road, Donnybrook, Dublin 4 Phone 01 2601007 Email email@example.com Web www.microfinanceireland.ie
E: firstname.lastname@example.org W: www.ruairimcginley.ie T: 086 830 11 11
McGinley for Business