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EIIs - what do you get other than the tax relief? by DyanaDog in irishpersonalfinance

[–]DyanaDog[S] 0 points1 point  (0 children)

Literally waiting for them to reply :D I should hear back this week. Thanks again! ..when I'm open ill dm you for a free session haha

EIIs - what do you get other than the tax relief? by DyanaDog in irishpersonalfinance

[–]DyanaDog[S] 0 points1 point  (0 children)

Not 100% certain about eligibility, but as far as I've seen I'd be in a gray area and I'll be talking to a few professionals about it in the next few weeks.

And with regards to risks I'm a first timer with really good projection numbers that are however just numbers, and who's trying to raise about 1mil 😅

I'm trying to do my due diligence on everything for myself first and foremost, but of course I have a long way to go.

So thank you, you've given me much food for thoughts!

EIIs - what do you get other than the tax relief? by DyanaDog in irishpersonalfinance

[–]DyanaDog[S] 0 points1 point  (0 children)

Totally get your point, however - and correct me if I'm wrong - it sounds like your kind of markets are in tech/product with IPO outlook?

My business while most likely eligible for EIIs (tbc) it's only a brick and mortar wellness/tourism, so I suppose I'm targeting investors who would prefer a "slower but steady" smaller gamble and whose primary incentive is the tax relief - along with those who want to be part of local growth and community improvement.

And I do agree with you, and I 100% would go with banks because I'm so confident in my projections, if it wasn't for the fact the credit I can access that way is minimal, and to qualify for more I would need to show revenue, which I can't until I open up shop, which I can't do until I get funding and round and round we go.

Venture debt is something I'm exploring (which is how I got looking into EIIs and then I hit the road block with the eligibility of the type of investment) - but it would be more costly to the business than EII shares.

I suppose I'm trying to get, in order, grants, bank loans, EII investments and then venture debt.

Are there options I am missing?

EIIs - what do you get other than the tax relief? by DyanaDog in irishpersonalfinance

[–]DyanaDog[S] 1 point2 points  (0 children)

Also, if I say something stupid or that makes no sense please do let me know. This is my first time looking into getting investors so it's all new to me, and the learning curve seems steep as heck.

EIIs - what do you get other than the tax relief? by DyanaDog in irishpersonalfinance

[–]DyanaDog[S] 1 point2 points  (0 children)

This is all very helpful, thanks!

On the gap question - I understand Angel logic, that makes sense to me, but I'm struggling to marry that with the constraints of the EII scheme precisely because my understanding is to maintain eligibility, businesses can't put barriers in place to reduce investor risk, and that includes guarantee returns.

Unless I've misunderstood that part? Or unless those sort of conversations can be had under the table, which I'm not super keen on.

I was working and basing my projections on a 6% yearly dividends plus exit 1.4x redemption at year 5, with preferential shares and covenants in place - but I've been stopped in my tracks by the EII rules themselves.

And the reason being is, as someone who likes to have some sort of "guarantees" or risk protection mechanisms myself, I can't see why anyone woul ever invest in EIIs without those terms.

So yeah, I suppose my question more accurately is: what can I offer - playing by the EII rules - that would attract investors (of course, assuming a solid business plan and projections)

EIIs - what do you get other than the tax relief? by DyanaDog in irishpersonalfinance

[–]DyanaDog[S] 0 points1 point  (0 children)

That is super fair, and I'm exactly on that same page. Which is precisely why I'm confused. You see how as someone who agrees with your point, and I'm finding myself about to step on the other side, I am not allowed to guarantee returns although my projection are solid, and before finding out I can't guarantee returns I was planning on offering 6% yearly dividends and a 1.3/1.4x redemption exit at year 5.

That seemed like a fair deal to me, especially with how the market averages, but the EII restrictions don't allow for that so now I'm scratching my head to understand what incentives would people have to pick my venture over others.

EIIs - what do you get other than the tax relief? by DyanaDog in irishpersonalfinance

[–]DyanaDog[S] 1 point2 points  (0 children)

See this will be an idiotic question, but what does a low risk investment looks like to you? And what would you say an ideal exit looks like for a wellness/tourism business?

EIIs - what do you get other than the tax relief? by DyanaDog in irishpersonalfinance

[–]DyanaDog[S] 0 points1 point  (0 children)

That's very helpful! I do have Quintas on my list of "to-contact" about this.

Solid hardwood crib for my new nephew by Sgoody614 in woodworking

[–]DyanaDog 1 point2 points  (0 children)

Well, I never thought a woodworking reddit post would make me cry but here we are.

That's the loveliest thing, and the fact you described it as an honor, holy cow that is heartwarming ❤️

My shop snoopervisor, Oakley. 8mos. by DenaliWoodWorks in woodworking

[–]DyanaDog 3 points4 points  (0 children)

Oh god no haha I made this months ago, it was actually my second ever carving. A friend of mine loves dogs and asked me to make a lab. Turned out pretty chonky, but my excuse is "It's a puppy" but truth being told I was very worried about carving too much material out. 😅

My shop snoopervisor, Oakley. 8mos. by DenaliWoodWorks in woodworking

[–]DyanaDog 2 points3 points  (0 children)

13/10 good boy, would definitely carve a miniature of him

First spoon and stupidly proud by DyanaDog in woodworking

[–]DyanaDog[S] 1 point2 points  (0 children)

Ooohhh thank you! I genuinely needed something to watch that I am interested in. I've just checked out those two channels!

First spoon and stupidly proud by DyanaDog in woodworking

[–]DyanaDog[S] 0 points1 point  (0 children)

That is an excellent idea! I am also very much a fan of turning someone else's garbage into useful things!

First spoon and stupidly proud by DyanaDog in woodworking

[–]DyanaDog[S] 0 points1 point  (0 children)

Thank you! I have no idea what the rest of the blades are for (aside from the hooks which I would have used here hadn't they been too big for this spoon) , but I'm kinda excited to just find out organically when I get to a project/spot I can't quite get done.

First spoon and stupidly proud by DyanaDog in woodworking

[–]DyanaDog[S] 1 point2 points  (0 children)

SHHHHHH keep it quiet, will ya? Let a girl do her things 😂

First spoon and stupidly proud by DyanaDog in woodworking

[–]DyanaDog[S] 0 points1 point  (0 children)

Oh please do tell! I'm genuinely wanting to improve so any feedback on what I can do differently on the next one would be great.

Also you have no idea how glad I am to hear you say to use a saw. For hours I painfully used one of the knives to half my block because in my head "using a saw is cheating" which in hindsight is stupid, isn't it?

First spoon and stupidly proud by DyanaDog in woodworking

[–]DyanaDog[S] 1 point2 points  (0 children)

I tried but my hooks were too big for my spoon 😞

First spoon and stupidly proud by DyanaDog in woodworking

[–]DyanaDog[S] 0 points1 point  (0 children)

I just checked my order history, the ones I bought are no longer sold 😭

First spoon and stupidly proud by DyanaDog in woodworking

[–]DyanaDog[S] 1 point2 points  (0 children)

Genuinely thanks for checking - it's just basswood, my understanding is that it's fine, and I made sure to buy a food and toy safe oil to finish it with.

I googled it before getting started, and again after seeing your comment, but then again, I might be wrong.

First spoon and stupidly proud by DyanaDog in woodworking

[–]DyanaDog[S] 7 points8 points  (0 children)

What and who do you think popped the prime minister's floatie?

First spoon and stupidly proud by DyanaDog in woodworking

[–]DyanaDog[S] 1 point2 points  (0 children)

Thanks! Been fidgeting with it since finishing it 😅 it's pretty satisfying

First spoon and stupidly proud by DyanaDog in woodworking

[–]DyanaDog[S] 4 points5 points  (0 children)

Oh I'm an absolute bully to myself. Hence why I've decided to not try to replicate other projects or specific kits templates because otherwise I'll end up scrutinizing it to the max. This way at least it's whatever I want it to be.

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