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Setting up on your own?

 

business woman

Before you think about setting up your own business, make sure that it’s the right choice for you.

Check out your idea with family and friends – listen to their views and opinions – if it’s a good idea they’ll tell you.  Do your research thoroughly – know your competition and think about your USP (Unique selling point).  Consider the impact it will have on your life and those around you as being your own boss takes incredible flexibility and stamina (normally seven days a week initially) so ensure you have a good support system available. 

Once you have decided that it’s definitely for you, check out the advice available from Business Link (www.businesslink.gov.uk).  You’ll find loads of information on there – from people already  running their own business successfully, to those who are thinking of launching one. 

Read the section ‘Starting a business during a recession’ this provides information on what you need to do before launching yourself into the business world and details what problems you may come across as you start.  ‘Finding and managing money’ explains the basics of cash flow management, what to consider when choosing the right finance open for you, how to find grants and much more.
Great starting point.

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