Private Business

Business owners face many challenges, from strategy and growth to succession planning. As a result, defining your business strategy along with creating a tax-efficient structure have become important considerations for Irish private businesses as they compete in today’s evolving business landscape. We understand that your decisions aren’t always just about business—they’re personal. That’s why we provide tailored solutions to help business leaders manage their ownership and growth strategy at every stage in a way that works for them, particularly during times of change and uncertainty.

Private Business services

When your work is personal, you need people you can trust and solutions you can count on. Everything we do is built around you and your business.

Manage ownership

Growing a business can be demanding, exhilarating, and intensely personal. That’s why we are here to help you manage your ownership and stimulate growth at every stage of your business’s life cycle—and in a way that is tailored to meet your specific needs. Managing ownership of a private business is a unique and complex challenge. From legacy building and protection to exit strategies and professional wealth management, it encompasses the biggest challenges for ensuring long-term success.

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Manage business

We get that managing change and continuing to unlock value can be complex and challenging issues. For a private business owner, building a long-term strategy to drive and manage growth involves many considerations and decisions. From digital transformation to risk and regulation, we guide you through complexity and provide business solutions built around you.

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Family office

We understand that decisions around your family's wealth are important and intensely personal. As you look to the future, you will need to protect your assets, maximise their value and ensure a smooth transition to the next generation. This can be a complex challenge, depending on your family's circumstances. That's why we have built an expert team of private business and private client professionals to help you manage your ownership today, as well as protecting your legacy into the future. For many, that begins with building or re-imagining your family office.

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Emerging business owners often have inspiring ideas with the potential to expand but like many other companies, they may face a number of hurdles that act as stumbling blocks to growth and success in their industry. Our specialist team can provide tailored advice and solutions to emerging businesses for every stage of their growth journey, from start-up to scale-up. Whether you need help managing your tax affairs and cash flow or financing your growth plans, we are with you every step of the way.

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Design your business’s management incentive plan

In today’s competitive environment, your management team must be committed to delivering results, growing the business and making it a success. Whether your business is a start-up looking to recruit a new executive or an established company seeking to retain its key people, an effective incentive plan can be a cost-effective and tax-efficient means of meeting these objectives.

There are several types of equity incentive plans, from growth share schemes to share options and restricted shares. But how do you know which one is right for your business? Every business has unique needs when it comes to incentivising its employees. Various factors such as company structure, available finance and market position can influence the type of incentive scheme that will be most suitable. Private businesses typically shy away from Revenue-approved schemes as they can be onerous to implement, whereas non-approved schemes can offer more flexibility.

Businesses can encounter many pitfalls when establishing even the most straightforward incentive schemes, and mistakes can prove costly. Once a business has decided on the terms of its management incentive plan, the legal documents must reflect the desired outcome. Likewise, the various company secretarial items must be completed in addition to payroll requirements. Nuances within Irish tax legislation can disqualify a company from the scheme if it is not drafted or recorded correctly. It is therefore increasingly important for private businesses to ensure that their scheme administration is fit for purpose.

Businesses at all stages of maturity are looking for ways to incentivise and retain key management. A vital element of any incentivisation plan is the tax cost the employer might face—whether on implementation, on an ongoing basis, or even on the sale of the business. In addition, management incentivisation is constantly evolving as new legislation and reporting requirements are rolled out. It is essential to ensure that your business complies with all aspects of your chosen plan, and tax will be a critical consideration in this respect.

A critical factor in implementing management incentive schemes is ensuring that your business and the underlying shares are valued correctly. The value of the business will influence the underlying value of the equity given to management as part of an incentivisation package. As such, having an accurate valuation for the underlying shares is imperative to avoid unnecessary tax costs for your business.

The administrative and compliance aspects of incentive schemes can become very complex. The main goal is to attract and retain key talent and as such, businesses must ensure that their employees understand the extent to which they are being incentivised. Doing so will allow you to maximise the impact of your incentive scheme and achieve the desired outcome.

Contact us

Colm O'Callaghan

Partner, PwC Ireland (Republic of)

Tel: +353 87 776 1711

John Dillon

Partner, PwC Ireland (Republic of)

Tel: +353 86 810 6415

Ronan Furlong

Partner, PwC Ireland (Republic of)

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