Healy O'Connor

Starting a new Business in Ireland in a Recession

The Australians refer to it as the GFC or Global Financial Crisis. Of course, they are currently immune from the ravages of the aforementioned. But that’s the thing.

It’s a global problem with local effects for us here in Ireland. If you have lost your job or think this is the time to start a new business then I can honestly say the best money you will spend is one hour talking to a legal professional who has been around the block.

I am passionate about entrepreneurs starting their new venture but it can never be at the expense of being fully informed. Too often the excitement of breathing life into your new baby clouds your judgment. It seems boring to talk about lease terms, employment rights and pitfalls when all you want to do is get back to the graphic designer to check out the world’s newest global brand.

It’s not about raining on your parade. It’s about stacking the cards in your favour. I have been involved from inception to winding down. I have been appointed liquidator to many firms and it’s always sad to see someone’s endeavours come to nothing.

In my experience you don’t often get a second chance in business. Get advice, take your time and research, take a breath, research some more, and if you are still up for it, give me a call!

Shane Healy, Head of Commercial, Employment and Insolvency.

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