Over 672,890 start-up businesses were launched in the UK in the tax year 2018/19 – that’s equivalent to 1,844 new businesses per day. However it is a sad, but the inevitable, fact that not all of these will succeed in the long term. So what can you do to try and tip the scales in your favour? One of the most important things is making sure that you get off to a good start, so here are some tips for starting a small business, given by Jeff Barber, Partner at Selling My Business.
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business plan
As an entrepreneur who is considering opening a small restaurant, you have to think about whether you are to invest time, money, and hard work into making it a proper business.
[continue reading…]Starting a part-time small business is ideal if you want the security of employment whilst investing in a side business. Starting a business can come with great risks, and one of the main reasons that potential entrepreneurs are held back is for fear of their business failing. However with a combination of business skills and the right product, you can make your business a success. When running a part-time small business you also don’t have the life changing risk of failing hanging over your head, as you still have a steady income through your day job.
Starting your own business and taking the plunge can be daunting, but help is here. With this setup plan, you will feel equipped and ready to take your idea to the next level. From market research to financing your business, this guide contains six key points to help you start your own business.
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Online use and shopping are getting increasingly popular, with consumers flocking to the internet rather than the high street. As the popularity of online shopping grows, businesses need to get online. You can either create an e-commerce website to be an addition to your existing business, helping to increase revenue, or you can start an online business from scratch. We have created this guide for those looking to start an online business in the UK.
[continue reading…]Strategic planning is a crucial process that often gets overlooked in small businesses, due to a lack of understanding about the process, and a lack of resources available to dedicate to planning. However, a strategic plan can be the difference between staying afloat and being a true success.
There are many reasons why people want to get into the street food industry. For most people, it’s the fact that they can cook their own delicious food, be their own boss, change location whenever they want, and it’s not too expensive to start up. You can work cooking your own food, watch peoples’ faces when they take a bite out of your culinary speciality and make a living from your own talent.
Starting a business has never been easier; the Internet in particular and the march of technology means researching a market is within reach for start-ups (even at a global scale), and much of this can be achieved with relatively little money.
For a lot of people, starting their own business requires a huge leap of faith. The reason behind this is simple – it is most often a step into an unfamiliar world, where you cannot be sure whether any of it is going to work out, even if you have a brilliant business idea. However, the very fact that you are seriously thinking about it is already enough for a good start. You are aware of the risks, and you have already heard all the intimidating statistics on startup failure.
Sharing your IT expertise could pave the way to a profitable IT consultancy. However, to compete with larger companies, you will have to progress past the constraints of a start-up in its first year. There are a few methods of doing this that will help you to build up your IT company and attract more potential clients.
If you love food, and you are a people person, starting up a catering business may be a good idea. You can do what you love and make a living from it. It’s true that the catering market is a crowded one, but you can make a business work if you are prepared to do the hard work that is required.
If you have a passion for making music, starting a recording studio business may seem like a dream enterprise, especially if you already have experience of recording in your own home studio. Helping unknown artists on the path to success is an exciting prospect. However, starting up a professional recording studio is not easy. You need to be aware of what is involved and make sure that you are fully invested.
If you enjoy photography and have a good eye for architectural details, you may be a good candidate to start your own business as a real estate photographer. Photography has never been more important to selling real estate than it is today. High-quality images on websites, apps, and virtual tours are the primary way that people decide which houses to include in their search.
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Dr. Mona Alyedreessy has set up a small business called Azara Beautique. Based on her experience of setting up this business she has given Company Bug her tips for other women setting up a business, in order to help and inspire women who too have great business ideas.
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With a £250, 000 prize money for business investment up for grabs, as well as partnership with Lord Sugar, the Apprentice is a huge business opportunity for the candidates. With only one week left of the battle to win Lord Sugar over, the show is coming to a close. The two finalists have been revealed, James White and Sarah Lynn, despite one of them being fired from their previous job.
The coffee shop business industry in the UK is expanding, and it is expected to be worth around £15 billion by 2020. This will see the rise of about 10,000 outlets in the upcoming three years. With room for you to thrive, opening a coffee shop now could be ideal for you. Coffee shops are well in demand with sleep-deprived Brits inclined to purchase a cup of coffee or two throughout the day. There is, however, the stellar competition that coffee shops owners will face from large chains such as Costa and Starbucks as well as the many independent coffee shops who are offering a unique experience to stand out.
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As a small business owner you will always be pitching. From pitching to investors to get funding to pitching at networking events to seek out potential partners, pitching will be an essential part of your role as a small business owner. Therefore, you need to take time to how to perfect your pitch. Not being able to communicate your ideas and plans because you haven’t learnt how to deliver a good pitch can be detrimental.
It may seem extremely difficult and hard to run a seasonal business, however if managed carefully then it can be a success. Seasonal fluctuations can create a problem for all businesses, however seasonal businesses embrace these fluctuations and develop skills and strategies in order to thrive.
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You will need to raise finances to fund your franchise business. It might be possible that you have to deal with hefty start-up costs that will cover the initial franchise fee as well as buying and/or renting the premises. You will also have to deal with ongoing costs that you need to cover, especially at the beginning where you will not be making a great amount of money.
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Once you have successfully started up your business, you will need to focus on actually running it. Although getting started and setting up is the initial big challenge you have to face and overcome, after getting into a routine of running your business, you will need to make sure that you are progressing and moving forwards and upwards rather than being stuck in a stagnant state.
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