Colm O’Callaghan and Teresa McColgan, Tax Partners at PwC recently addressed students in Dr Eric Clinton’s New Enterprise Development (NED) class. The topic of their discussion was “Growing and Maximising your Business” and gave students practical advice on facing the ‘Dragons’ – ahead of Dragon’s Den on April 16th – 18th.
The PwC experts advised students to consider who their competitors are, to identify their market and USP, pay attention to key financials, projection and valuation and consider the longevity of the product/brand.
They then advised students on the fundamental elements of creating a start up along including:
- How to structure a start-up and how it may evolve
- The advantages of starting and growing a business in the Irish context
- Sourcing financing and seed capital and securing additional funding as the business evolves
- The need to consider governance, regulation and factors such as the incoming GDPR regulation
- The new factors that emerge through growth, acquisition and expansion, particularly overseas expansion
- Planning early for an exit strategy
New Enterprise Development students, who are about the face the Dragons with their own start-up projects from April 16th – 18th 2018 benefited hugely from the talk, commenting:
“The timing of this talk from Colm and Teresa of PwC could not have been better. We are facing a Dragons Den pitch in 2 weeks and the topics covered today provided us with such rich insight on tackling investor concerns, including international markets, exit strategies, tax incentives, shareholder agreements, and working with friends and family”.
Thanks to Colm and Teresa for their time and great advice to our students.