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Exciting News for Our Local Business Community

We are thrilled to announce an opportunity for local businesses to unite and collaborate. Join us for the inaugural meeting of the Local Business Association—a powerful initiative designed to support and empower businesses just like yours.

 

đź“… Date: Friday, 23rd May
đź•’ Time: 12:45 PM
đź“Ť Location: Bridge Enterprise Centres, Nutgrove Way, Rathfarnham, Dublin 14, D14 T8W2

 

This gathering is more than just a meeting— by coming together, we can:

âś… Establish a practical network for local businesses.
âś… Unlock collective marketing and promotional opportunities.
âś… Share valuable resources, knowledge, and expertise.
âś… Advocate for our collective interests with local authorities.

 

Take this opportunity to be part of this game-changing initiative. Confirm your attendance by Wednesday, 21st May at ciaran@bridgeec.ie.

Have questions or ideas? Feel free to reach out directly!

Let’s build a stronger, more connected business community—together.

 

End of VAT Fixed Direct Debit Scheme

Revenue is currently in the process of modernising its Direct Debit facility, and important changes are on the horizon for businesses and tax agents who manage VAT payments through the Fixed Direct Debit (FDD) scheme.

Previously Revenue introduced the Variable Direct Debit facility in January 2019 for payments related to Employer Income Tax, PRSI, USC, and LPT as part of the PAYE Modernisation project. Since then, the majority of employers have successfully adopted this payment method. Now, the same approach is being extended to VAT.

What’s Changing?

Revenue will introduce a new Variable Direct Debit (VDD) facility in June 2025, to align with standard industry practices and enhance the efficiency of VAT payments. Once the VDD is in place, the Fixed Direct Debit option will no longer be offered and will be phased out gradually as customers transition to the new system.

Key Differences Between Fixed and Variable Direct Debit

Here are the main changes of which VAT-registered businesses should be aware:

 

  1. Return Filing Frequency
    • VAT return filing will shift from an annual return to a bi-monthly return schedule.

 

  1. Payment Structure
    • Under the VDD facility, Revenue will debit the exact value of the VAT due from a customer’s bank account on the due date, rather than a fixed monthly amount.
    • This ensures customers pay the correct tax amount on time, reducing the risk of late payment interest charges.

 

Revenue will only debit amounts authorised through the creation of a new Variable Direct Debit mandate.

 

What Action Is Required Now?

No immediate action is required by you at this stage. Businesses should continue making their fixed monthly VAT payments under the current scheme until otherwise advised.

Revenue will be in touch with businesses on a phased basis ahead of their VAT period-end to provide instructions on transitioning to the new VDD facility.

 

In Summary

  • The Fixed Direct Debit scheme for VAT will cease in June 2025.
  • A new Variable Direct Debit system will replace it, offering more accurate, timely tax payments.
  • No changes are needed right now, but communication from Revenue will follow in due course.

This change represents another step toward a more streamlined, modern tax system in Ireland.

Make sure that you contact your accountant/tax adviser to help understand the new VDD system or prepare for the transition.

MF 01/05/25.

Be sure to check out our news and updates page where we post regular updates and supports for businesses. In addition, if you would like to speak with one of our business advisers about a business idea you have, or an issue you’re currently experiencing in running your business, contact admin@bridgeec.ie to book a complimentary 45min advice session.

 

Angel Investing Masterclass – May 6th, 10am

Are you curious about angel investing but not sure where to start? You’re not alone—and we’ve got just the thing to help you take that first step with confidence.

We’ve teamed up with AwakenHub to deliver a 90-minute Angel Investing Masterclass, specially designed for women who are new to the world of investing in start-ups.

Why Attend?

Angel investing can be an exciting and rewarding way to support innovative businesses while building your own wealth. But like any investment strategy, it helps to know what you’re doing before diving in.

This masterclass breaks it all down. You’ll learn:

  • What angel investing actually is—and why it matters

  • How to assess start-up pitches like a pro

  • The key components of a winning investment portfolio

  • Common pitfalls (and how to avoid them)

Learn from the Experts

The session is led by seasoned professionals who know the angel investing landscape inside and out. They’ll share insights, real-world examples, and practical tips to help you start strong.

READ MORE AND REGISTER HERE!

 

Webinar: Cyber Security Fundamentals for SMEs

View below our webinar on Cyber Security Fundamentals for SMEs.

In this webinar, Paul Delahunty, Information Security Officer for Stryve, will bring you through his top 10 recommendations to help protect your data and maintain secure operations. 

Click here to read further details on Enterprise Ireland’s Cyber Security Grant, and see if your business is eligible.

 

Contact Details:

Website: https://stryvesecure.com/

Tel: (01) 531 4130

 

Name: Paul Delahunty (Information Security Officer)

Email: paul.delahunty@stryvesecure.com

 

Name: Jason Popplewell (Group Commercial Director)

Email: jason.popplewell@stryvesecure.com

 

See more news & updates here.

5 Common Startup Mistakes & How to Avoid Them

Starting a business is an exciting and rewarding journey, but it’s also fraught with challenges. Many startups fail not because of a lack of passion or hard work, but due to avoidable mistakes. If you’re an aspiring entrepreneur in Ireland, understanding these pitfalls can save you time, money, and stress. Here are five common startup mistakes and how you can avoid them.

1. Failing to Validate Your Idea

One of the biggest mistakes new entrepreneurs make is assuming that their idea is automatically viable. Many invest time and resources into a business concept without properly testing if there’s a real demand for it.

How to Avoid It:

  • Conduct market research before launching. Speak to potential customers, run surveys, and analyse industry trends.
  • Start small with a Minimum Viable Product (MVP) and gather feedback before making significant investments.
  • Check out support organisations like Local Enterprise Offices (LEOs) in Ireland, which offer market validation grants and advice.

2. Neglecting Financial Planning

Poor financial management is a leading cause of startup failure. Many entrepreneurs underestimate costs, overestimate profits, or fail to track cash flow properly.

How to Avoid It:

  • Create a detailed business plan with projected income, expenses, and cash flow forecasts.
  • Keep track of your finances from day one using accounting software like Xero or QuickBooks.
  • Seek financial advice from professionals or avail of mentoring schemes through Enterprise Ireland or the LEO network.
  • Ensure you have enough funding to sustain the business in its early stages, whether through savings, grants, or investment.

3. Trying to Do Everything Alone

Many startup founders try to manage every aspect of the business themselves, leading to burnout and inefficiency. While passion and determination are vital, it’s unrealistic to be an expert in every area, from marketing to legal compliance.

How to Avoid It:

  • Build a strong support network, including mentors, advisors, and fellow entrepreneurs.
  • Outsource tasks that aren’t in your area of expertise, such as bookkeeping, legal matters, or digital marketing.
  • Consider joining coworking spaces or enterprise centres like Bridge Enterprise Centres to connect with other entrepreneurs and access professional support.

4. Ignoring Marketing and Sales

Many startups focus on product development but neglect marketing and sales strategies. Without customers, even the best products or services will fail.

How to Avoid It:

  • Develop a marketing strategy early on, including social media, content marketing, SEO, and paid advertising.
  • Utilise free and low-cost marketing methods such as networking events, LinkedIn outreach, and collaborations with other businesses.
  • Focus on building relationships with customers and offering exceptional service to generate word-of-mouth referrals.

5. Not Understanding Legal and Tax Obligations

Irish startups often overlook legal and tax requirements, leading to fines or unexpected liabilities. From business registration to VAT and employment laws, compliance is essential.

How to Avoid It:

  • Register your business correctly, whether as a sole trader, partnership, or limited company.
  • Familiarise yourself with Irish tax obligations, including VAT, Corporation Tax, and PAYE for employees.
  • Seek professional advice from accountants or organisations like Revenue.ie to ensure compliance.
  • Consider legal structures, contracts, and intellectual property protection from the outset.

Final Thoughts

Starting a business in Ireland is an exciting venture, but avoiding these common mistakes will increase your chances of success. Validate your idea, plan your finances carefully, seek support, prioritise marketing, and stay legally compliant. With the right preparation and mindset, you can build a thriving startup.

Be sure to check out our news and updates page where we post regular updates and supports for businesses. In addition, if you would like to speak with one of our business advisers around a business idea you have, or an issue you’re currently experiencing in running your business, contact admin@bridgeec.ie to book a complimentary 45min advice session.

See more news & updates here.