According to a recent CSO study, SMEs generate almost half of all revenues in Ireland and account for 99 per cent of local enterprises.
These figures should give new entrepreneurs confidence — but formulating a solid plan is the first step towards creating a profitable firm.
If you’re an amiable sort and remain calm when dealing with lots of excitable children, a kids’ party business could be just the ticket.
Don’t start bending those balloon animals into shape just yet though — here are three simple ingredients to get you started.
Sturdy bouncy castles and other inflatables are a wise investment if you want to keep a wide age range of children happy with minimum effort, bar some supervision.
The first inflatables created specifically for fun were invented by NASA mechanical engineer John Scurlock and were appropriately christened Space Walks.
But nowadays you can buy or hire anything from huge slides to climbing walls and obstacle courses — and the temporary feeling of airlessness is perpetually popular.
So see if you can source a deal on a reliable inflatable — but be sensible by barring tiny tots from challenging objects and try to avoid anything branded with TV shows or music stars that might date quickly.
A sunny day is perfect for a youngster’s party — they can run around until they’re burned out while parents get the chance to relax a little.
But rain showers can spoil the most promising events — so investing in weatherproof marquees with heaters to keep guests warm means that your precisely planned party will never be rained off.
These terrific temporary structures can be used in any weather — they add extra capacity and an alternative outdoor ambiance to bricks and mortar venues even when the sun’s shining.
And having one handy also allows you to sub-contract at events like wedding by providing an exclusive entertainment area for child guests.
Clowns are the traditional choice for children’s party entertainment — but some kids are terrified of them, and movies like It have done nothing to redeem the reputation of these asinine acrobats.
So hiring a few realistic celebrity lookalikes is probably a safer bet — young guests will love snapping selfies with a fake David Beckham or counterfeit Miley Cyrus.
And you might even offer a grumpy Gordon Ramsay clone to critique the party food and amuse accompanying adult guests.
Another excellent option is a tribute band — hiring a Drake or Dua Lipa sound-alike should go down a treat and impress guests no end.
Having diverse entertainment contacts at hand is an excellent plan — you can switch up your offering to suit any demands.
Entertaining children and keeping parents happy simultaneously isn’t easy — but it can be fulfilling and profitable.
So get these three simple ingredients for a successful kids party business sorted and use your networking skills and social media to get your name known — you’ll soon be bursting with bookings.
Do you run a children’s party business? Share your advice in the comments section.