It is acknowledged that businesses are the major drivers of a city’s or country’s economy, this therefore makes them an essential part of a society. Through their activities, goods and other essential services are made available to members of the society.
Setting Up a Limited Company in Ireland
Setting Up a Limited Company in Ireland
On the other hand, setting up a business is one of the ways for individuals to make money, provide for themselves and their loved ones and make meaningful contributions to society. However, it is important that when about to set up a business, proper counsel (especially legal counsel) be sought so that the individual setting up the business will not run afoul of the law. One option to consider when about to do this is the option of setting up a limited liability company.
Companies In General
These are legal entities formed by an individual or a group of individuals with common interests and goals. The aim of the establishment of this legal entity is to use the company to advance those agendas that they have that can range from business interests to charitable endeavors. They are called legal entities because, upon incorporation, the law vests personhood to the organization (it becomes an artificial person) therefore, it can sue and be sued in its legal name. You can read more about this here.
Types Of Companies
Setting Up a Limited Company in Ireland
Setting Up a Limited Company in Ireland
In Ireland in particular and in the UK in general, there are basically four (4) types of company, they are:
Public Limited Company (PLC)
Private Company Limited By Guarantee
Private Company Limited By Shares
Private Unlimited Company
Public Limited Company
Mostly called a PLC for short, is simply one that can be publicly traded to the public on the stock exchange. To become a PLC, the organization must have a share capital of at least fifty thousand Pounds of which twenty-five percent of it has to be paid up before the company can begin trading. Also PLCs by provision of the law must have at least two directors and a secretary.
Private Company Limited By Guarantee
Here, the liabilities of the guarantors are limited to an amount agreed to be paid by the guarantors in the event that the company closes down. Organizations that fall under this category include charities, churches, unions and clubs.
Private Unlimited Company
This is the most unpopular of the types of companies around as it is only set up where there is little to no risk of ever going insolvent. The reason for this is because, in the event of its folding up, there is no limit to what the members would be required to pay so it is mostly avoided. However, they do not have to submit accounts annually to Companies House.
Private Company Limited By Shares
This is by far the most popular type of company run in the UK as there are over two million of such companies registered at the Companies House. It is generally referred to as a private limited company and must have Limited or its abbreviation Ltd, at the end of the name. Summarily, it suffices to say that setting up and running this type of company has many advantages for small and medium scale businesses, this is why it is the most prominent.
How to Start Your Limited Liability Company In Ireland
Setting Up a Limited Company in Ireland
Setting Up a Limited Company in Ireland
As can be seen from the above, most companies in the country are limited liability companies and this is so because it offers the best benefits for startups and small and medium scale businesses. You going through this write-up are probably doing so because you want to have your own startup and are wondering how to go about it. Well, this is how:
Start From The Name
The name you give to your company matters a lot and it is the place to start your preparations for the incorporation of your organization. This is because the name shouldn’t be similar to that of any other incorporated organization nor should it suggest any affiliation with any other existing incorporated organization. Thus, it is better that you conduct a search for available and reserved names just to ensure that you are not stepping on any toes here.
Take A Decision On What The Ownership And Share Structure Will Be
So here, you have to decide on the type of shares that you will be issuing of which the most popularly issued type is the ordinary shares. This however, doesn’t mean that you should use it, consider your peculiar circumstance and seek professional advice in making a decision.
The other decision to make is the number of shares that you will have to issue, what they will be worth and the number that you will be purchasing (subscribing to). The only other thing to note here is that you should ensure to authorize a good number of shares, so as not to reach the limit of your share capital should you choose to sell more at a later date.
Get Yourself An Office Location
This office location is what is known as your registered office and it has to be a physical office (as virtual offices are not allowed neither are PO boxes). This is the address that will be present on your complimentary card, where your letters are delivered and the daily affairs of your company is done.
Get A Company Secretary
Every company must have a company secretary and if you have only one director, then the secretary has to be a different person from the director. However, if there is more than one director in your office, then the other can be appointed as the secretary.
The secretary is the person who handles and files the yearly annual returns, such a person also has to prepare the minutes of meetings. Note that you should not just hire anyone to act in the office of the secretary for you as the person hired should have the relevant qualifications and experience to function in that capacity.
Register Online
Registering a company in Ireland is done online and you have to make some payments to register. To do this, you have to completely fill in the online form A1 and this is done through the CORE system. Again, you have to ensure that all your required documents are ready and intact and that you have drafted your constitution among other things. Also be careful not to make any mistake as such a mistake will cause you to have to start afresh again and of course, it will cost you financially.
Get A Company Seal
Once you are done with the registration of your company, the next very important step you have to take is to order for a company seal. This company seal becomes a mark that distinguishes your establishment from all the others. With it, you stamp your documents, deeds and contracts thereby establishing them to be authentic. Note that if for any reason changes the name of your company, then your company seal has to be changed.
Issue Share Certificates
Once the seal is obtained you can now be able to issue shares and share certificates to founder investors. There is no particular formula or way of doing this, companies set their own ways of handling this however, it has to be signed by two directors and sealed with the company’s seal. Also, you have to make sure that these share certificates get to the shareholders within a two-month time frame from the time of incorporation.
Registration With The Revenue
Registering with The Revenue is a compulsory step that you must take after all aspects of incorporation have been taken care of. And this is done for tax purposes; failure of which you might just be running afoul of the law.
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It is important to stress again that before you embark on this incorporation journey, you seek proper legal advice. You can also read up informative materials on this issue or visit https://www.fusionformations.ie/11-steps-for-setting-up-a-limited-company-in-ireland/ to find out more.
Conclusion
It is a good thing to want to have your own establishment, or to further improve on an already existing business. However, it is even better to seek proper advice, especially legal advice when about to get started.
The first thing this helps you to avoid is making mistakes that can set you back with your plans. For this reason, you have to be smart to avoid any mistakes when setting up a Limited Company in Ireland.
Natural Ways To Build Strong Joints And Get Healthy Muscles Effectively
Lifestyle plays a great role in promoting joint health and muscle health. What are the natural ways to build strong joints? This query is quite common from people. As per studies, inclusion of certain food sources in diet is found to be very beneficial to get healthy muscles. Cherry is one among the best food sources to improve the strength of joints and muscles. Anthocyanins in cherry can naturally promote the health of joints. It blocks inflammations and reduces the risk of pain naturally. In order to achieve effective result, it is advised to consume a handful of cherries daily.
Similar to cherry, you can also make use of ginger to reduce the troubles due to arthritis. Today, you can easily avail tea powders with ginger extracts from market. If possible, make it as a habit to drink a cup of ginger tea every day. Apart from promoting joint health, regular consumption of ginger tea can also promote the production of digestive enzymes. For the best health advantage, it is recommended to drink a cup of lemon juice added with mint extract and ginger extract as the key ingredients.
Cranberry juice is one among the best food sources to improve joint health. Preventing stomach ulcer is a key advantage of using cranberry juice extract. To get effective heath advantage, feel free to make use of cranberry juice every day. Eating foods enriched with omega 3 fatty acids is found to be very effective to treat joint pain problems. As per studies, fish oil is found to be equipped with a good amount of omega 3 fatty acids. You can definitely make use of this natural cure to improve joint health. Sardines, salmons and mackerel are some among the best food sources to improve joint health.
At present, you can also get cod liver oil in the form of capsules from market. If you are planning to buy a reliable product from store, feel free to buy the right product by checking the feedback from customers. Improving joint flexibility is a key benefit of including omega 3 fatty acids in diet. Similar to fish oil capsules, you can also make use of flaxseed oil to improve joint health. Today, many ayurvedic treatments are making use of flaxseed oil to massage the affected body parts. In order to get effective result, it is advised to massage with flaxseed oil thirty minutes prior to body bath. You can also make use of flaxseed oil while preparing food items to consume.
Including turmeric in food items that needed to be consumed is another natural way to alleviate the risk of joint problems. Curcumin present in turmeric naturally prevents the risk of inflammatory diseases. As per studies, curcumin in turmeric is found to be very useful to fight against the free radical mechanism in body. Hence feel free to make use of this remedy as per the need. Freeflex capsule is one among the best sold products to improve joint flexibility. You can make utilize of this herbal cure twice or thrice per day. 100% herbal composition is another key feature of Freeflex.
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SaaS Application Development Lifecycle, Challenges, and Recommendations
The technological advancement has propelled the growth of software development. The advent of new technologies have disrupted many industries and therefore digital transformation is the need of the hour, but not every business can afford the software development costs. To democratize access to technology, software subscription models have taken place. They are called SaaS Application Development Lifecycle (Software as a Service).
Typically, the SaaS application development services providers charge subscription fees for their software products. The products are delivered and stored in a cloud-based environment which means that the customers don’t have to download the software product on their system. They can access it through a web browser or a mobile app. Hubspot, Mail-chimp, Google Drive, Shopify, Zoho, Twillio, etc. are examples of successful SaaS products.
The SaaS application development services have become the trend as more and more businesses are leveraging the subscription-based software service model. Since, we’ve developed and scaled multiple SaaS products over time, here we’re sharing the development life-cycle, challenges, and recommendations for SaaS Application Development Lifecycle.
SaaS Development Life-cycle
For SaaS development life cycle, the cloud service provider is a critical success factor, and therefore the cloud service deployments require a different approach than ordinary software development. The SaaS Application Development Lifecycle approach is typically focused on the assessment of the cloud provider in terms of platform capabilities and operational enablement.
This SaaS development life cycle illustration assumes that there were no cloud service provider preferences prior to the project initiation. However, if it is not the first SaaS-based product the enterprise is going to have, the Platform Evaluation, Subscribing, and Operations phases of the SaaS development life-cycle will be less detailed. It is because the SaaS developers can leverage the work that has already been done during the recent SaaS development.
Following steps are the best way for a SaaS Application Development Lifecycle:
1. Envisioning
Envisioning is the first phase of SaaS Application Development Lifecycle and includes identifying new business opportunities, where the company leadership identifies the gaps in the market, or how to upsell to existing customers. SaaS solutions envisioning is no different than a traditional software envisioning. However, the SaaS products open up new opportunities as the business leaders will have fewer constraints due to reachability, discoverability, and scalability of the solutions. The activities required at this stage are as follows:
Activities
Identify existing business requirements
Visualize business opportunities and market trends
Decide whether to buy or build
Assess sales, marketing, and licensing models
Identify the SaaS solution needs
Decisions made during Envisioning
Executive sponsorship
The market research and trend analysis will guide the company executives to decide on the sponsorship of the SaaS application development.
Economic Justification
SaaS product development cost will be weighed against the total investment and the ROI period will be calculated.
Buy vs Build
Decisions will be made on whether to buy or build the services. In the case of building the service, either the existing IT department or a system development company will build the SaaS solution. Alternatively, the solutions can be bought from independent software vendors (ISVs).
Cloud Platform Assessment
Based on the platform characteristics and support, the organization will shortlist the cloud service providers.
POC Plan
The management team will move forward with the decision of creating a proof of concept (POC) for the solution.
2. Platform Evaluation
The performance of cloud service providers is very critical for the success of a SaaS product. The SaaS product development strategy will require activities that focus on selecting the best cloud service for the product. The ISVs or the company building the product will need to pick the cloud service that helps them realise the product strategy planned during the envisioning phase.
In arriving at a decision that is fit for purpose, the SaaS software architecture proof points are intersected with the cloud’s platform features and capabilities. There are cases where the existing relationships of the product owner or the ISV with the cloud service provider play a vital role in moulding the architecture to fit the cloud’s requirements.
Activities
Design the technical architecture
Define the functional and non-functional proof points
PaaS solution economies assessment
Weight the cloud platform features and capabilities with respect to the SaaS product architecture
Plan for POC with a small list of PaaS vendors
Try to acquire the trial subscription to PaaS solutions
Plan the product development phases (waterfall or agile)
Decisions
Selecting the fit for purpose cloud PaaS
After the completion of the cloud platform and POC evaluation, the ISVs will be able to pick the best cloud platform for the SaaS solution.
3. Planning
When the cloud platform selection, feasibility analysis, and fit to purpose analysis has been completed, the planning phase can begin in order to plot the course of action for a project delivery prediction. The complexity of the planning activity largely depends on the project size. The activities carried out in this phase of SaaS development life cycle is quite similar to the traditional software development lifecycle.
Activities
Aggregate the required product features
Streamline product architecture and design specifications
Create a project plan and schedule
Create a resource and communication plan
Create a risk management strategy
Deliverables
Project plant for the current iteration
Development plan
Current iteration feature requirements
Resource plan for the current iteration
The technical architecture for the solution
Design specifications
Operation monitoring plan
4. Subscribing
Subscribing third-party services such as cloud platforms and payment services is a vital phase of a SaaS development lifecycle. The purchasing decisions are made based on trial subscriptions. The decision of picking a cloud service provider is subject to careful examination of the deployment models, business continuity, subsequent upgrading schemes, support processes, and disaster recovery. The procurement team will inspect the pricing models and support costs to identify the suitable subscription (IaaS or PaaS).
Activities
Negotiate SLAs (Service Level Agreements) with the managed service providers.
Analyse feasibility of the polished solution architecture and see if it is possible with the selected cloud service provider.
Validate and intersect the polished disaster recovery plan with the cloud service provider’s recovery practices.
Validate compliance, auditing, and data privacy.
Plan for residual risk mitigation.
Acquire a cloud subscription for product deployment.
5. Developing
In this phase, the SaaS product architecture and design specification are converted into code artefacts and support documentation. The product development phase includes a series of iterations as per the technical architecture and design specifications. However, the design and architecture may change a little bit based on the discovery of the state of the art functionalities and refinement of functional requirements. The granularity and number of iterations depend on the scope of the project and resource allocation. The developers will work hand in hand with the solution architects throughout the service delivery process.
Activities
Development environment setup
Deployment and testing frequently throughout the iteration
Application security integration
Cloud and on-premise systems integration
Streamlining the data extraction, uploading, and synchronization
Support and helpdesk processes integration
Testing support and helpdesk processes
6. Operations
Both the deployment and the operations process are a vital part of the traditional software development lifecycle (SDLC). Due to the clear requirements of support contracts, SLAs, compliances, shared infrastructure, and security; the activities during this phase are very crucial for the success of the SaaS product.
Activities
Assess the capacity required
Load testing
Deployment plan
Disaster recovery and business continuity process setup and testing
Finalizing the support plan
Backup and recover process assessment
Service discovery collateral creation
Creating user and support manuals
Production deployment, monitoring, and performance evaluation.
SaaS Application Development Challenges 1. GDPR compliant Database access
As the GDPR regulations are being made mandatory throughout the world, secure databases have become a necessity for the SaaS software development process. Not just GDPR compliance, but depending on the industry, there are other compliances that the software will operate in. Some of the other compliances are Sarbanes-Oxley (SOX), Payment Card Industry Data Security Standard (PCI DSS), Health Insurance Portability and Accountability Act (HIPAA).
Depending on the requirement, the compliances should be made clear and be implemented while building up the software architecture. At the stage of system creation, the unit and integration tests shall be applied to ensure sufficient data security.
In our SaaS deployments, we’ve used MongoDB and Neo4j for database management, MySQL, PostgreSQL, and Elastic Search for data analysis and visualization, and Redis was used as the database, message broker and cache.
2. SaaS subscription Lifecycle Management
Third-party payment services are a feasible way to integrate plans and subscriptions functionality while developing SaaS software. Third-party subscription management services have a straightforward approach to take care of product plans and subscriptions. The SaaS software developers can leverage such payment systems by using their APIs. One such example is Stripe. Stripe provides well-documented plans and subscription features that are easy to integrate.
If the product owner doesn’t want to be dependent on any third-party subscription management service provider, the SaaS software developers can build the native functionality too. The advantage of having it all in one place is that the product owner won’t have to pay monthly or yearly fees to the payment service providers for the management of plans and subscriptions.
3. Third-party Payment Integration
Almost every SaaS product comes with payment functionality. Normally, it is perceived by third-party payment service integration. There are two ways to integrate the payment services, with one of these methods being a lot easier than the other.
The easier one is to go with the payment service provider which provides great support for integration. The more demanding one is where the SaaS developers have to analyse the technical aspect and challenges that can occur while integrating with the payment services. This method may be necessary if your payment system needs to have specific custom features which existing payment providers cannot provide. This focuses on creating appropriate application parts which also includes creating services and functionalities that facilitate seamless integration with external payment services.
However, most of the payment solution providers already expose their APIs and other necessary libraries to make the integration smooth. Throughout time, we’ve integrated payment services like Secure Trading, PayPal, QuickPay, Braintree, Skrill and many others on our diverse portfolios. The most crucial factor we’ve found which many other developers don’t pay much attention to is to test the integration with the set of automatic as well as manual tests.
4. A Zero-Downtime Deployment
As the SaaS products can be accessed anywhere in the world by potentially a huge number of users, the availability of the solution becomes significantly important. During these years of SaaS product deployment, we’ve seen that sometimes when a new version is released, the system might not be fully accessible to the user.
We recommend using a zero-downtime deployment strategy that makes your process of deployment fully responsive. To achieve this, the developer can make sure that the webserver doesn’t start serving the changed code until the complete deployment process is executed. Unlike the traditional deployment systems where the application would notify the users about scheduled downtimes, the blue-green zero-downtime deployment strategy ensures that the SaaS solution is available all the time.
5. Future-Proof Customization
A good SaaS system is supposed to be fully customizable, beginning from the user-interface up to the underlying system layers. However, the customization level is always dependent on the product requirements. We’ve deployed SaaS solutions where the customization of layout, subdomain, user-based information access levels, layouts, templates were required. Handling such requirements can increase the development costs a little bit, but if the customization functionality is achieved in a lean and agile manner, it adds a lot of value to the SaaS solution.
Wrapping Up
SaaS product development has an advantage of customizability and integration with other enterprise systems and software. The SaaS development company should build APIs that are safe to be exposed to third-party developers who might want to expand your SaaS product’s capabilities by integrating their cloud-based software applications.
Whether you are developing a new SaaS product or converting an existing one to SaaS, the Nimble AppGenie team can help you with the development. Our experienced team of architects and developers are experts in developing cloud-based applications. Contact us now for SaaS application development services.