I have recently started a new small business here in Ireland and have being going through the official processes to get it up and running in the proper fashion.
According to the ‘Ease of Doing Business Index‘ which is compiled by the World Bank (2012), Ireland places as the 10th highest country in the world in terms of how easy it is to do business. This ranking takes into consideration factors such as the actual start-up of the business, employing workers, paying taxes, enforcing contracts, property rights, getting credit, various issues with regards to registration / official documentation, and so on.
From my own point of view, this index ranking seems fairly accurate because so far it has been plain sailing for me in completing the various steps necessary, notwithstanding the fact that there have been delays of my own making due to me being busy with college and personal matters.
I was originally running the business (which is concerned with the rental of equipment) on a ‘cash in hand’ basis. A lot of small businesses begin using such methods and this is perfectly acceptable in the very short term. However, the clients I was dealing with did not want this situation to continue: they preferred to do business with a registered enterprise and so it was time to legitimize the situation.