The COVID-19 pandemic has caused uncertainty for many large and small businesses alike. While that may discourage some people from starting a new business during this unsteady time, those who embrace this moment as a unique opportunity for innovation and change may find incredible success.[continue reading…]
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.
When starting a small business, one of the first things to be decided is the legal structure used for the business. It can either be a sole trader or limited company or a partnership. Setting up as a sole trader is the most popular legal structure in the UK, with approximately 3.5 million sole proprietorships in 2020. Sole traders accounted for 59% of small businesses in the UK. There were also 2 million limited companies, making it the second most popular legal structure.
There are several different kinds of limited companies available to set up in the UK. Limited companies are the second most popular business structure in the UK, only coming second to sole traders. The type of limited company structure chosen for a business will depend on various factors such as the number of shareholders, the responsibility that the shareholders have and the level of involvement by the public. Each has their own benefits, so each business will need to decide what is the most suitable structure for them.
The word “startup” conveys the notion of conceiving an idea and growing it to higher levels. Achieving these higher levels will require having the correct technology to get started, and further scalability will be dependent on a proper toolkit. Starting a new business presents many different challenges and expenses for entrepreneurs, but choosing tech equipment doesn’t have to be one of those challenges.[continue reading…]
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…]
As an entrepreneur, starting a new business and hiring employees to join your team can often be a daunting first move to make as your business expands. It can be difficult to create the right environment and culture as a start-up business whilst also developing your brand.[continue reading…]
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.
Working from home is an ideal situation for many, however, in some cases, it is simply not possible, for example, if you are a heart surgeon you can of course only really work at the hospital! Whether you are a home-based small business owner full time, or you balance your time between working from home and at the office, you will know there are many pros and cons of both.[continue reading…]
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…]
Are you hoping to launch your start-up business overseas? If so, you may want to contemplate locating your business in one of these super start-up friendly nations. To learn more about the best start-up destinations in the world, check out the below infographic guide which comes courtesy of the team at Hansen and Company.[continue reading…]
Doing business on an international scale has almost become the new norm. Today, it’s not only long-standing conglomerates that travel abroad to make business deals or sell products to other countries. Thanks to the internet, even the smallest businesses are obtaining international clients. Stay on top of this shift by learning a little about business etiquette around the world.
Established retailers have a habit of keeping their cards close to their chest, claiming that their success is down to simply having a “good eye” for products that will sell. But business can’t be all about guesswork, because you’re inevitably going to get it wrong at some point.
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.
Managing your own business, especially if it is a new venture for you, could be a very daunting task to undertake. There are many things to think about, to prepare, and to manage day in and day out. But if you have nailed down all the basics of business management, it will be a whole lot easier for you to get your new business going.
I started out in the organic products business when there were hardly any organic products! Now it is possible to get every food imaginable in organic format, and in ever increasing quantities. When we first had organic brown rice the world beat a path to our door. Now it’s a commodity and you can get many different kinds; short grain, long grain, basmati, red, black – all organic.
More often than not, the idea of starting a business seems way too complex and frightening. Most believe they wouldn’t be able to handle the challenges or have no idea what awaits them. And so, they decide not to pursue an idea or a dream and quit before they even start.
When setting up a new business there are many things to think about but probably the first key thing to decide on is what kind of business do you want to set up – which business entity will work best for what you want to achieve?
“Don’t start a company unless it’s an obsession and something you love. If you have an exit strategy, it’s not an obsession” – said Marc Cuban, a well-known American entrepreneur. Running a startup is much harder than many aspiring entrepreneurs could have imagined. You might have difficulties in different spheres including communication, project management, marketing, and sales. Thus, it is important to ensure that you are well prepared and equipped with reliable tools to handle such activities.
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.