Hey folks,
I am currently a sole trader, but I have discovered a niche in the market locally for a new business completely different to what I do now (it's proved very successful in other countries), as I've been a sole trader for so long I understand the basics of self employment, but I have only ever looked after myself (not currently vat registered, pay income tax, no employees, not a Ltd company etc).
I am very much good at what I do so have never been without work (just being honest not bragging), I take my business very seriously and I also have learned a lot over these last 8-10 years especially about marketing, getting new customers, advertising etc and understand how this all works but also not afraid to try new things and a lot of the times have proved successful so I have the right confidence going into new business.
However, my new business would be bigger than what I am now, it will require a medium to large premises, expensive equipment and set up costs (€130-160k) and require around 6-8 staff full and part time so would be creating local employment also... A lot bigger than what I am now but I have full confidence in that it would be a success, my problem is setting it up, where to next.
I have a solicitor who is willing to talk to me along with an accountant (these guys work together) they both specialise in start ups and making business plans, seeking funding/grants etc.
I do not know any business people personally whom I can 'pick their brains' but I am also worried that this solicitor and accountant for all I know could steal my idea and off they go to set up or fund it themselves or somebody they know.
Is there anything I can do to protect myself going into meeting with these guys on a confidentiality basis ? Or am I open to the lions den on this one.. Should I set up a company before hand with the cro or get domain names set up, should I make them sign something or am I just being over cautious and untrusting etc,
Any advice of any shape and form will be greatly appreciated.
I am currently a sole trader, but I have discovered a niche in the market locally for a new business completely different to what I do now (it's proved very successful in other countries), as I've been a sole trader for so long I understand the basics of self employment, but I have only ever looked after myself (not currently vat registered, pay income tax, no employees, not a Ltd company etc).
I am very much good at what I do so have never been without work (just being honest not bragging), I take my business very seriously and I also have learned a lot over these last 8-10 years especially about marketing, getting new customers, advertising etc and understand how this all works but also not afraid to try new things and a lot of the times have proved successful so I have the right confidence going into new business.
However, my new business would be bigger than what I am now, it will require a medium to large premises, expensive equipment and set up costs (€130-160k) and require around 6-8 staff full and part time so would be creating local employment also... A lot bigger than what I am now but I have full confidence in that it would be a success, my problem is setting it up, where to next.
I have a solicitor who is willing to talk to me along with an accountant (these guys work together) they both specialise in start ups and making business plans, seeking funding/grants etc.
I do not know any business people personally whom I can 'pick their brains' but I am also worried that this solicitor and accountant for all I know could steal my idea and off they go to set up or fund it themselves or somebody they know.
Is there anything I can do to protect myself going into meeting with these guys on a confidentiality basis ? Or am I open to the lions den on this one.. Should I set up a company before hand with the cro or get domain names set up, should I make them sign something or am I just being over cautious and untrusting etc,
Any advice of any shape and form will be greatly appreciated.