Setting up in business is one of the biggest decisions you'll take in life.
It will be accompanied by mixed emotions; the euphoria of going alone, being your own boss and given the chance to steer your own destiny mingled with the moments of doubt and fear; the prospect of failure, the long hours and the loss of job security
Feelings of isolation and a lack of support structures can heighten the negative aspects of starting a new business. If you have any concerns contact us, we will attempt to help you. In the meantime our 'starting a business' web pages have been put together to take you through the journey of setting up a business.
If you're not sure what business to start or if you have a definite idea but wish to find out more about it, try our 'What business should I start?' section. To go directly to this section click here
We take you through the nuts and bolts of researching your market and developing a business plan. A separate section has been devoted to managing finances in respect of the fact that the biggest reason for start-up failure is poor cashflow rather than lack of demand for a product/service.
Similarly, having a good product or service is one thing but advertising, finding and selling to customers are also vital to your new business, so we've added a 'marketing your business' section to help you with these.
Laws and regulations to do with starting a business are covered in our 'tax & legal' section while deciding on a location for your business will depend on a number of factors. Our 'premises' section is designed to guide you through the process of choosing a suitable site.
If you'd rather buy an existing business than start one of your own, see our 'buying an existing business' section. Purchase an existing is not going to be cheap and require careful assessment on the balance sheet. All smart business owner will bound to "Window Dress" their account and it takes an experienced financial advisor to spot the right revenue driver of the business and value it accordingly. After the valuation of the business, it is on you as the purchaser to finance the transaction. There are multiples options and suitability will depend very much on each individual. The possible options include but not limited to a personal loan, share options, bank loan, business loan, crowdfunding.
Finally, although it's not essential to have a computer to start a business, you may decide (particularly if you already have one) to use IT from the outset. This will certainly make things easier especially as your business grows. Setting up your first IT system will take you gently through the steps required to do just that.
Our only other advice is to enjoy your new business. It may be a bumpy ride at times but in the long run it should prove to be a rewarding adventure. Good luck!