Avid Partners has a number of E-Commerce clients that we assist in a number of ways from accounting and bookkeeping services to funding and marketing supports. At Avid Partners we recognise the potential for innovative E-Commerce businesses and work closely with clients in this area to help them drive their business forward. E-Commerce businesses have the potential to grow very quickly, much faster than most traditional business models, but also have a high burn rate as many start-up companies never progress past their early development stage.  Avid Partners Accountants Ireland can help you develop your technology business.

 

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E-Commerce Sector

The E-Commerce market is Ireland is an interesting mix of a large number of very small micro businesses (less than 10 employees) and a small number of very large global players who have a high presence in Ireland (Zynga, Facebook, E Bay, Google). Many small indigenous E-Commerce businesses are niche operators focused on extracting revenues from one or a small number of key areas. Many of the smaller companies have moved away from the sole focus of advertising revenue and instead are concentrating on recurring revenue streams such as fee based models and sales. In the retail sector for example many of the tradition bricks and mortar operators use online as a supplemental sales channel. “Online has become increasingly important for The Kilkenny Group, we will continue to invest in growing our online presence in the Irish market.  However, we do see online as complimentary to our 13 stores nationwide and not as a replacement” Greg O Gorman, Marketing Manager, The Kilkenny Group. 

 

Sector Issues

There are a number of challenges facing the E-Commerce sector including:

  • Scalability of their businesses
  • Raising participation of SME’s in the  E-Commerce section of the domestic economy
  • Security of online sales and transactions
  • Governmental support to the digital sector
  • Continued infrastructure development
  • Suitability of certain products and services categories for optimal online sales
  • Internet Marketing and online customer fatigue

  

Contact Us

 Contact Avid Partners today to see how we can assist you with your technology business. Download our article on your area, book a place on our next industry seminar and make an appointment today to chat about your business with one of our expert Avid Partner staff. Call us on 01 4286900 or email us at info@avidpartners.ie.

Solutions Include:

Scenarios:

Absolutely. Too many companies rush into new ventures without taking the time to request advise, see what the available options are and how best to structure the business to give it the best possible chances of success. We can assist you in drafting a plan of attack so that you have a road map for the first 6 months of the businesses life. We can also work with you on practical aspects of the business such as website development, Search Engine Optimisation and Online Best Practice. We can meet regularly with the business owners and through our strategy sessions will get to the crux of the best way forward for the company.
Inevitably as your company expands you will need to be aware of the regulations of the countries you are operating in. In general a company resident in Ireland is liable for taxes in Ireland on its worldwide income. However this is based on the principle of Permanent Establishment (PE) and the assumption that a server for an e commerce company based in Irish is by definition Irish and taxed accordingly on that basis. However there are growing calls for a review of that assumption based on the movement of revenues worldwide solely for the purpose of tax avoidance (Google, Amazon & Apple being high profile examples in the news recently and all using Ireland as their European hubs).
At Avid Partners we work with a number of small scale E Commerce companies all at various stages of the growth cycle. E Commerce companies that are designed to fulfil a need in the local or national community are often ideas driven and get a great response from local audiences if they see a community and/or financial benefit to the website. The issue arises when it comes time to monetise the business and upscale to a financial model that is revenue generating and not completely dependent on the originators time and input.
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